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 VEGAS–(BUSINESS WIRE) – July 11, 2022 — BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or the “Company”) today announced the formation of Ault Energy, LLC (“Ault Energy”), a subsidiary of Ault Alliance, Inc., itself a subsidiary of BitNile.
Background on Ault Energy’s Oil and Gas Drilling Rights
The Company recently completed its previously announced transaction with Ecoark Holdings, Inc. (“Ecoark”) (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 “Agreement”) between its wholly owned subsidiary Digital Power Lending, LLC (“DPL”) 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 (“White River”), 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 Energy’s 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 Company’s 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 (“FY 2021”)) 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
Fortium’s cannabis subsidiary Elysian acquires two commercial licenses in California
FAYETTEVILLE, Ark.--(BUSINESS WIRE)-- Fortium Holdings Corp (“Fortium” or the “Company”) (OTC: FRTM), today announced that its wholly-owned cannabis subsidiary, Elysian Premium Corp. (“Elysian”), has entered into an agreement to acquire 80% of the issued and outstanding capital stock of Treehouse Company Inc. (“Treehouse”) for $200,000. In connection with the agreement the Company and Elysian entered into a memorandum of understanding which contemplates Elysian’s 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. Treehouse’s 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 (“DCC”) license transfer rules and regulations. Elysian is performing a market analysis to identify optimal locations to go-to-market with each license.
“Today’s 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,” stated Richard Horgan, Chief Executive Officer of Fortium. “Our 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.”
About Fortium Holdings Corp
Founded in 2021, Fortium is a diversified holding company. The company has two wholly-owned subsidiaries: Elysian Premium Corp. (“Elysian”) and Norr LLC (“Norr”). Elysian’s 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. Norr’s goal is to break the barrier of entry to action sports for the general consumer market.