Hiru Corp. Reports Change in Control and Officer Departures
Ticker: HIRU · Form: 8-K · Filed: Sep 5, 2024 · CIK: 925779
| Field | Detail |
|---|---|
| Company | Hiru Corp (HIRU) |
| Form Type | 8-K |
| Filed Date | Sep 5, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $191.5 million, $446.7 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: change-of-control, management-change, corporate-governance
TL;DR
Hiru Corp. is undergoing a change in control, with new directors and departing officers.
AI Summary
Hiru Corp. announced on September 3, 2024, a change in control event. The company also reported the departure of certain officers and the election of new directors. The filing includes financial statements and exhibits related to these changes.
Why It Matters
This filing indicates significant corporate restructuring at Hiru Corp., which could impact its operational strategy and shareholder value.
Risk Assessment
Risk Level: medium — Changes in control and executive departures often signal uncertainty and potential shifts in company strategy, which can introduce risk.
Key Players & Entities
- Hiru Corp. (company) — Registrant
- September 3, 2024 (date) — Date of earliest event reported
- Georgia (jurisdiction) — State of Incorporation
- 20 Bay Street 11th Floor, Toronto, M5J 2N8 (address) — Address of Principal Executive Offices
- PHOENIX RESTAURANT GROUP INC (company) — Former Company Name
- DENAMERICA CORP (company) — Former Company Name
- AMERICAN FAMILY RESTAURANTS INC (company) — Former Company Name
FAQ
What specific event triggered the 'Change in Control of Registrant' disclosure?
The filing does not specify the exact event that triggered the change in control, only that it occurred on or before September 3, 2024.
Who are the departing officers and the newly elected directors of Hiru Corp.?
The filing indicates the departure of certain officers and the election of directors but does not name the individuals involved in this section.
What are the key financial statements and exhibits included with this 8-K filing?
The filing states that financial statements and exhibits are included, but the specific details of these documents are not provided in the provided text.
When did Hiru Corporation previously change its name?
Hiru Corporation was formerly known as PHOENIX RESTAURANT GROUP INC (name change date: 19991112), DENAMERICA CORP (name change date: 19960110), and AMERICAN FAMILY RESTAURANTS INC (name change date: 19940622).
What is Hiru Corp.'s Standard Industrial Classification (SIC) code?
Hiru Corp.'s SIC code is 5812, which corresponds to RETAIL-EATING PLACES.
Filing Stats: 737 words · 3 min read · ~2 pages · Grade level 11.3 · Accepted 2024-09-05 06:05:03
Key Financial Figures
- $191.5 million — s, with an estimated in-situ value of Au$191.5 million to Au$446.7 million. The agreement is
- $446.7 million — in-situ value of Au$191.5 million to Au$446.7 million. The agreement is governed by Tasmania
Filing Documents
- hiru_8k.htm (8-K) — 21KB
- hiru_ex9901.htm (EX-99.1) — 1KB
- image_003.jpg (GRAPHIC) — 44KB
- 0001683168-24-006199.txt ( ) — 85KB
01
Item 5.01 Changes in Control of Registrant. Holding company with interests in mining in Australia and other mining projects. Hiru Corporation (HIRU) is engaged in an active partnership mining concession arrangement with concession rights for the Balfour Project in Western Tasmania. Hiru has exclusive rights to explore, develop, and exploit the mineral resources, with an estimated in-situ value of Au$191.5 million to Au$446.7 million. The agreement is governed by Tasmanian laws and aims to balance resource extraction with environmental sustainability and community well-being.
02 Departure
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. The new independent advisor has been appointed on August 28, 2024 - Geoffrey Summers. Mr Geoffrey Summers, Australian by birth, has operated as a business entrepreneur since leaving college in 1982, as well as taking on many rolls in a diverse range of businesses. He has owned and operated hotels, an IT business, medical clinic and been involved in Agriculture, Construction & Education businesses. He first worked in mining over 30 years ago in Tasmania and WA as an operator. After the GFC he saw the opportunity to heavily invest in the mining industry becoming a major shareholder, CEO and Chair of a series of Tasmanian based mining enterprises, controlling more than 2000 square kilometers of mineral tenements, including; 1. The Rogetta Iron ore project (biggest new mining project in Tasmania for 50 years.) He developed this project and sold out in 2020. 2. The Avebury Nickel project, selling out in 2020. 3. The Balfour Copper Field (over 760 square kilometres of copper, gold, silver, cobalt, tin, tungsten deposits,) with current Ni43-101, JORC, ITAR, VALMIN reports, owned by D&B Mining as subsidiary of Zebs Minerals Pty Ltd. 4. Moina Gold Pty Ltd (including Mount Charter & other tenements & 3 JORC resources.) Currently Geoffrey remains the CEO / Sole director of Moina Gold Pty Ltd and Zebs Minerals Pty Ltd. He has an interest in Avebury Nickel Mine having the rights to about 30 million shares also supplying IP, IT, Geological services and Heavy Equipment to this project. Geoffrey also has investments in a hotel, commercial & residential property & equities. SECTION 9 — FINANCIAL STATEMENTS AND EXHIBITS
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Board Resolution redacted 2
SIGNATURES
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. Hiru Corporation By /s/ Khalid Nasser Name: Khalid Nasser Title: Chief Executive Officer Date: September 5, 2024. 3