OROPLATA RESOURCES, INC. (OTCMKTS:ORRP) Files An 8-K Unregistered Sales of Equity Securities
ITEM 3.02 Unregistered Sales of Equity Securities.
On February 16, 2017, Oroplata Resources, Inc. (the
Company) issued a 10% fixed convertible
promissory note in the principal amount of $250,000 (the
Note) to Tangiers Investment Group, LLC, a
Delaware limited liability company (Tangiers)
for initial cash consideration of $29,480 and an original issue
discount of $2,948 retained by Tangiers for due diligence and
legal fees related to the Note, resulting in an initial principal
sum due under the Note in the amount of $32,428 on February 16,
2018 (the Initial Maturity Date). Tangiers may
pay additional consideration to the Company in such amounts and
at such dates as Tangiers may in its sole discretion choose. Each
subsequent payment made under the Note shall be due one year from
the date each payment is made.
The foregoing description of the Note does not purport to be
complete and is subject to, and qualified in its entirety by
reference to the Note, a copy of which is filed as Exhibit 4.1 to
this report and incorporated herein by reference.
ITEM 5.02 Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
On February 20, 2017, the Board of Directors of the Company
appointed Douglas Cole to serve as a director of the Board,
effective February 28, 2017.
Mr. Cole, age 61, has been a Partner overseeing all ongoing deal
activities with Objective Equity LLC since 2005, a boutique
investment bank focused on the high technology, data analytics
and the mining sector. Mr. Cole currently serves on the Board of
Directors of eWellness Healthcare Corporation. From 2002 to 2005
Mr. Cole has held various executive roles, including Chairman,
Executive Vice Chairman, Chief Executive Officer and President of
multiple public corporations. From May 2000 to September 2005, he
was also the Director of Lair of the Bear, The University of
California Family Camp located in Pinecrest, California. During
the period between 1991 and 1998 he was the CEO of HealthSoft and
he also founded and operated Great Bear Technology, which
acquired Sony Image Soft and Starpress, then went public and
eventually sold to Graphix Zone. In 1995 Mr. Cole was honored by
NEA, a leading venture capital firm, as CEO of the year for his
work in the Starpress integration. Since 1982 he has been very
active with the University of California, Berkeley mentoring
early-stage technology companies. Mr. Cole has extensive
experience in global MA and global distributions. He obtained his
BA in Social Sciences from UC Berkeley in 1978.
The Board of Directors has concluded that Mr. Cole is qualified
to serve as a director of the Company because of his financial
expertise and extensive management experience as the Company
completes its aggressive exploration program and progresses
toward development of its primary project.
There have been no transactions since the beginning of the
Company’s last fiscal year, and there are no currently proposed
transactions, in which the Company was or is to be a participant
and in which Mr. Cole (or any member of his immediate family) had
or will have any interest, that are required to be reported under
Item 404(a) of Regulation S-K. The appointment of Mr. Cole was
not to any arrangement or understanding between him and any
person, other than a director or executive officer of the Company
acting in his or her official capacity.
ITEM 9.01 Financial Statements and Exhibits.
(d)Exhibits
|
Exhibit Number |
Description |
|
|
4.1 |
Original Issue 10% Fixed Convertible Promissory Note dated |
About OROPLATA RESOURCES, INC. (OTCMKTS:ORRP)
Oroplata Resources Inc, located in Puerto Plata, Dominican Republic, is an exploration stage company engaged in mineral properties mining. It was founded in 2011. OROPLATA RESOURCES, INC. (OTCMKTS:ORRP) Recent Trading Information
OROPLATA RESOURCES, INC. (OTCMKTS:ORRP) closed its last trading session up +0.008 at 0.198 with 194,434 shares trading hands.