ANTI-BAGHOLDER
2 years ago
All connected $FRTM $EVTN $NILE $ZEST
Ault Energy to partner with White River Holdings Corp on drilling projects across 30,000 acres in Texas, Louisiana and Mississippi
LAS VEGASโ(BUSINESS WIRE) โ July 11, 2022 โ BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (โBitNileโ or the โCompanyโ) today announced the formation of Ault Energy, LLC (โAult Energyโ), a subsidiary of Ault Alliance, Inc., itself a subsidiary of BitNile.
Background on Ault Energyโs Oil and Gas Drilling Rights
The Company recently completed its previously announced transaction with Ecoark Holdings, Inc. (โEcoarkโ) (NASDAQ: ZEST) by funding the purchase of $12,000,000 of Series A Convertible Redeemable Preferred Stock of Ecoark pursuant to the previously announced securities purchase agreement (the โAgreementโ) between its wholly owned subsidiary Digital Power Lending, LLC (โDPLโ) and Ecoark;
The Agreement provides Ault Energy, as a designee of DPL, the right to purchase up to 25% in various drilling projects of White River Holdings Corp (โWhite Riverโ), a wholly owned subsidiary of Ecoark, commencing in July 2022;
White River may, in its sole discretion, allocate a greater percentage to DPL or its designee than 25%; and Ault Energyโs right to purchase a greater percentage than 25% is subject to reaching a mutual agreement with White River.
https://aultenergyllc.com
ANTI-BAGHOLDER
2 years ago
$FRTM
-On March 4, 2022, Banner successfully completed the drilling of an oil project on its 9,615 acre oil and gas mineral lease in the Blackhawk oil field in Concordia Parish, Louisiana on March 4, 2022. White River led the drilling effort in close partnership with a local energy services provider. The completed well was logged March 5, 2022 and had significant shows in the 3 different zones in the Frio sand formation.
-White River purchased an MD Cowan Super Single drilling rig for $351,813 to add to its three workover rigs it owns. This purchase is expected to enable White River to drill its own vertical wells at both shallow and deep levels. This purchase, together with the recent financing described below, will facilitate the expansion of the Companyโs drilling program.
-We have acquired numerous oil and gas leases and oil and working interests in leases therein, as well as related personal property and equipment, beginning with our acquisition of Banner in March 2020. We also entered into a Participation Agreement with BlackBrush Oil & Gas, L.P. and GeoTerre, LLC, unrelated third parties, to conduct the drilling of wells in the Austin Chalk formation pursuant to which we have agreed to provide the capital investment of $5,746,941 (of which approximately $3,387,000 was expensed in fiscal year ended March 31, 2021 (โFY 2021โ)) in the project in exchange for a majority working interest in and net revenue from the energy resources produced by the wells. Using proceeds from the recent preferred stock financing, Ecoark is commencing an extensive drilling plan which will include drilling projects at both shallow and deep levels across these oil and gas mineral leases.
https://www.otcmarkets.com/filing/html?id=15937719&guid=eA1-kpTaeC7fJth
adijas
3 years ago
News out
Fortium Holdings Announces Purchase of Two California Cannabis Licenses
Fortiumโs cannabis subsidiary Elysian acquires two commercial licenses in California
FAYETTEVILLE, Ark.--(BUSINESS WIRE)-- Fortium Holdings Corp (โFortiumโ or the โCompanyโ) (OTC: FRTM), today announced that its wholly-owned cannabis subsidiary, Elysian Premium Corp. (โElysianโ), has entered into an agreement to acquire 80% of the issued and outstanding capital stock of Treehouse Company Inc. (โTreehouseโ) for $200,000. In connection with the agreement the Company and Elysian entered into a memorandum of understanding which contemplates Elysianโs purchase of the remaining 20% of Treehouse capital stock for an additional $200,000 following the required regulatory approval. Specific terms of these agreements, which remains subject to compliance with applicable state and local laws and regulations, will be provided at a future date. Treehouseโs key assets include two licenses for commercial cannabis dispensaries in the State of California, license numbers C11-0000999 and C9-0000379. The agreements have been drafted and the transactions have been structured to comply with the California Department of Cannabis Control (โDCCโ) license transfer rules and regulations. Elysian is performing a market analysis to identify optimal locations to go-to-market with each license.
โTodayโs announcement marks a critical step in executing on our seed-to-store strategy and plan to establish Elysian as a best-in-market luxury cannabis brand,โ stated Richard Horgan, Chief Executive Officer of Fortium. โOur team remains active in pursuing additional near-term opportunities to develop and implement vertically integrated operations of Elysian, while accelerating and expanding our growth objectives.โ
About Fortium Holdings Corp
Founded in 2021, Fortium is a diversified holding company. The company has two wholly-owned subsidiaries: Elysian Premium Corp. (โElysianโ) and Norr LLC (โNorrโ). Elysianโs strategy is to establish a premium luxury cannabis brand with the intention of running a fully vertically integrated model from seed-to-store as a multi-state operator. Norr is a direct-to-consumer focused action sports company that will provide quality core level equipment through platforms like Amazon. Norrโs goal is to break the barrier of entry to action sports for the general consumer market.