Laredo Oil Files 8-K for Material Agreement
Ticker: LRDC · Form: 8-K · Filed: Mar 12, 2024 · CIK: 1442492
| Field | Detail |
|---|---|
| Company | Laredo Oil, INC. (LRDC) |
| Form Type | 8-K |
| Filed Date | Mar 12, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, corporate-disclosure
TL;DR
Laredo Oil (LDRC) filed an 8-K for a material agreement - check for details.
AI Summary
Laredo Oil, Inc. filed an 8-K on March 11, 2024, reporting the entry into a material definitive agreement and the filing of financial statements and exhibits. The company, formerly known as Laredo Mining, Inc., is incorporated in Delaware and headquartered in Austin, Texas.
Why It Matters
This filing indicates a significant business development for Laredo Oil, Inc., potentially impacting its operations and financial standing.
Risk Assessment
Risk Level: low — The filing is a standard corporate disclosure and does not inherently present immediate financial risk.
Key Players & Entities
- Laredo Oil, Inc. (company) — Registrant
- Laredo Mining, Inc. (company) — Former company name
- March 11, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- Austin, Texas (location) — Principal Executive Offices
FAQ
What is the nature of the material definitive agreement?
The filing does not specify the details of the material definitive agreement, only that one was entered into.
When was the report filed?
The report was filed on March 12, 2024, with the earliest event reported on March 11, 2024.
What was Laredo Oil, Inc. formerly known as?
Laredo Oil, Inc. was formerly known as Laredo Mining, Inc.
Where is Laredo Oil, Inc. headquartered?
Laredo Oil, Inc. is headquartered at 2021 Guadalupe Street, Ste. 260, Austin, Texas 78705.
What is Laredo Oil, Inc.'s fiscal year end?
Laredo Oil, Inc.'s fiscal year ends on May 31.
Filing Stats: 531 words · 2 min read · ~2 pages · Grade level 11.8 · Accepted 2024-03-12 15:58:13
Filing Documents
- ldrc_form-8k.htm (8-K) — 26KB
- ldrc_ex99-1.htm (EX-99.1) — 6KB
- lo001_v1.jpg (GRAPHIC) — 3KB
- 0001199835-24-000107.txt ( ) — 210KB
- lrdc-20240311.xsd (EX-101.SCH) — 3KB
- lrdc-20240311_lab.xml (EX-101.LAB) — 34KB
- lrdc-20240311_pre.xml (EX-101.PRE) — 22KB
- ldrc_form-8k_htm.xml (XML) — 3KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On March 11, 2024, Laredo Oil, Inc. (the "Company") announced that Lustre Oil Company, LLC, a wholly owned subsidiary of the Company ("Lustre"), entered into a confidential Settlement Agreement (the "Settlement Agreement") with Erewhon Oil & Gas, LLC ("Erewhon") and A&S Mineral Development Company, LLC ("ASMD"). The Settlement Agreement provides for the settlement of the litigation among all parties in Valley County Montana, addresses the validity of the oil and gas leases subject to that litigation, the payment of an undisclosed cash payment and settled the quiet title dispute among the parties. The Settlement Agreement also provides for each party to the Settlement Agreement, together with its "Released Entities," as defined in the Settlement Agreement, to release and discharge each other party and the other party's Released Entities from any claims arising from the Settlement Agreement and the related litigation. 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. LAREDO OIL, INC. Date: March 12, 2024 By: /s/ Bradley E. Sparks Bradley E. Sparks Chief Financial Officer and Treasurer 3 EXHIBIT INDEX Exhibit No. Description Exhibit 99.1 Press Release dated March 11, 2024 relating to Settlement Agreement with A&S Minerals Development Company, LLC. Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 4