NATION ENERGY INC. (OTCMKTS:NEGY) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities.
Nation SLP LLC, a Delaware limited liability (“Nation SLP”) is a majority-owned subsidiary of the registrant, Nation Energy Inc. (the “Company”). to certain Membership Interest Purchase Agreements by and between Nation SLP and various investors (collectively, the “Purchase Agreements”), Nation SLP sold, in exchange for cash and/or promissory notes, limited liability company membership interests (the “LLC Interests”), comprising over the course of the offering 9.25% of the total membership interest of Nation SLP, for a total amount of $5 Million USD (the “Offering”). The Purchase Agreements offered each investor 3.70 basis points (0.0370% of Nation SLP membership interest) at a price of $20,000 USD.