Current Report Filing (8-k)
02 July 2015 - 5:19AM
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: June 25, 2015
(Date of earliest event reported)
U.S. PRECIOUS METALS, INC.
(Exact name of registrant as specified
in its charter)
Delaware |
000-50703 |
14-1839426 |
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer I.D. No.) |
242A West Valley Brook Road
Califon, New Jersey 07830
(Address of Principal Executive Offices)
(732) 851-7707
(Registrant's telephone number, including
area code)
N/A
(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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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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))
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Item 5.02. Departure of Directors
or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 25, 2015, the Board of Directors of the Company appointed
John Gildea as the Company’s Chief Executive Officer and on that same date, Mr. Gildea resigned as the Company’s Chief
Operating Officer.
The Company and Mr. Gildea have
entered into an oral arrangement pursuant to which Mr. Gildea will receive a monthly compensation of $8,000 for acting in such
capacity. In addition, Mr. Gildea will receive an initial grant of common stock in the amount of 500,000 shares, and he will receive
a quarterly common stock grant of 200,000 shares, subject to Board of Directors approval.
As of the date of this Report, except as stated herein, the
Company has no written or oral agreements with the above officer regarding compensation or any other form of remuneration. There
are no family relationships between the above named officer and any other officer and/or director. Except as stated herein, there
have been no transactions since the beginning of our last fiscal year, or any currently proposed transaction, in which we were
or are to be a participant, exceeding $120,000 and in which our new officer had or will have a direct or indirect material interest.
There is no material plan, contract or arrangement (whether or not written) to which the above named officer is a party or in which
each party participates that is entered into or a material amendment in connection with the triggering event or any grant or award
to any such covered person or modification thereto, under any such plan, contract or arrangement in connection with any such event.
SIGNATURE
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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U.S. PRECIOUS METALS, INC. |
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By: |
/s/ John Gildea |
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Name: John Gildea |
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Title: Chief Executive Officer |
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Date: July 1, 2015 |
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