Current Report Filing (8-k)
April 10 2014 - 12:48PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 4, 2014
PETROHUNTER ENERGY CORPORATION
(Exact name of registrant as specified in
its charter)
Maryland
(State or other jurisdiction of
incorporation) |
000-51152
(Commission
File Number) |
98-0431245
(IRS Employer
Identification No.) |
910 16th Street, Suite 208,
Denver, Colorado 80202
(Address of principal executive offices)
(Zip Code)
(303) 572-8900
Registrant’s telephone number, including
area code
Not applicable
(Former name or former
address, if changed since last report)
Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
¨ Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
| Item 5.02 | Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On April 4, 2014, the registrant increased the number of directors
from three to six and elected Daniel Bloch, Nicolas Mathys and Christian Russenberger to fill the vacancies created by the increase.
There are no arrangements or understandings between any of the new directors and any other persons, pursuant to which such directors
were selected as directors.
Mr. Russenberger is the director of Global Project Finance AG
(“Global”), which entered into two Credit and Security Agreements with the registrant in 2007, pursuant to which $39,800,000
was advanced to the registrant. A portion of these loans is collateralized by shares of the registrant’s wholly-owned subsidiary,
Sweetpea Petroleum Pty Ltd. (“Sweetpea”). The registrant agreed to pay Global advance fees in connection with these
loans. In addition, the registrant borrowed $850,000 from Global in 2007.
The registrant entered into an amendment agreement with Global
with respect to the Credit and Security Agreements and the $850,000 loan, in which all defaults under the Agreements and the loan
were waived through December 31, 2014. In addition, the terms of the amendment agreement allow for conversion of $6,500,000 of
principal amount owed under the existing credit facilities into shares of the registrant’s common stock at $0.10 per share
through December 31, 2014.
As of September 30, 2013, approximately $55.4 million was owed
to Global under the Credit and Security Agreements, the $850,000 loan and for unpaid advance fees.
Mr. Russenberger has also served as a director of Sweetpea since
July 2011.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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PETROHUNTER ENERGY CORPORATION |
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April 10, 2014 |
By: |
/s/ Martin B. Oring |
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Martin B. Oring Chief Executive Officer |