Tego Cyber Enters Material Definitive Agreement
Ticker: TGCB · Form: 8-K · Filed: Dec 26, 2024 · CIK: 1815632
| Field | Detail |
|---|---|
| Company | Tego Cyber, INC. (TGCB) |
| Form Type | 8-K |
| Filed Date | Dec 26, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $5.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement
TL;DR
Tego Cyber signed a big deal, details TBD.
AI Summary
Tego Cyber, Inc. announced on December 20, 2024, that it entered into a material definitive agreement. The filing does not provide specific details about the agreement or any associated dollar amounts or parties involved.
Why It Matters
This filing indicates a significant business development for Tego Cyber, Inc., though the lack of detail leaves investors uncertain about the nature and impact of the agreement.
Risk Assessment
Risk Level: medium — The lack of specific details regarding the material definitive agreement introduces uncertainty and potential risk for investors.
Key Players & Entities
- Tego Cyber, Inc. (company) — Registrant
- December 20, 2024 (date) — Date of earliest event reported
- December 26, 2024 (date) — Date of report
FAQ
What is the nature of the material definitive agreement entered into by Tego Cyber, Inc.?
The filing does not specify the nature of the material definitive agreement.
Who are the parties involved in this material definitive agreement?
The filing does not disclose the names of the parties involved in the agreement.
Are there any financial terms or dollar amounts associated with this agreement?
The filing does not provide any specific dollar amounts or financial terms related to the agreement.
When was the material definitive agreement entered into?
The earliest event reported, which is the entry into the material definitive agreement, occurred on December 20, 2024.
What is the purpose of this 8-K filing?
This 8-K filing is to report the entry into a material definitive agreement and to include financial statements and exhibits.
Filing Stats: 591 words · 2 min read · ~2 pages · Grade level 11.3 · Accepted 2024-12-26 09:02:35
Key Financial Figures
- $5.00 — B Preferred Stock with a face value of $5.00 Per Share in exchange for the Assigned
Filing Documents
- tego_8k.htm (8-K) — 22KB
- tego_ex101.htm (EX-10.1) — 193KB
- tego_ex101img9.jpg (GRAPHIC) — 2KB
- tego_ex101img18.jpg (GRAPHIC) — 2KB
- tego_ex101img17.jpg (GRAPHIC) — 2KB
- tego_ex101img14.jpg (GRAPHIC) — 4KB
- tego_ex101img13.jpg (GRAPHIC) — 4KB
- tego_ex101img10.jpg (GRAPHIC) — 4KB
- 0001654954-24-015882.txt ( ) — 394KB
- tego-20241220.xsd (EX-101.SCH) — 6KB
- tego-20241220_lab.xml (EX-101.LAB) — 13KB
- tego-20241220_cal.xml (EX-101.CAL) — 1KB
- tego-20241220_pre.xml (EX-101.PRE) — 8KB
- tego-20241220_def.xml (EX-101.DEF) — 2KB
- tego_8k_htm.xml (XML) — 4KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement On December 20, 2024, Tego Cyber Inc. (the "Buyer") entered into an Asset Purchase Agreement (the "Asset Purchase Agreement") with CloudCover, Ltd. (Minnesota), CloudCover, Ltd. (South Dakota) and CloudCover IP, LLC, (collectively the "Seller"), pursuant to which the Buyer purchased certain assets of the Seller. The consummation of the transaction covered by the Asset Purchase Agreement was subject to certain specified closing conditions, including subject to certain materiality exceptions, the accuracy of each party's representations and warranties and each party's compliance with its obligations and covenants under the Asset Purchase Agreement. The Transaction did not require the approval of the Buyer's shareholders. The transaction closed on December 20, 2024. The Buyer shall pay to Seller the following consideration: 11,000,000 shares of restricted common stock and 3,000,000 shares of Series B Preferred Stock with a face value of $5.00 Per Share in exchange for the Assigned Assets. The Asset Purchase Agreement includes representations, warranties, and covenants of both the Buyer and the Sellers customary for a transaction of this type. The description of the Asset Purchase Agreement set forth herein is qualified in its entirety by reference to the full text of the Asset Purchase Agreement, a copy of which is attached as Exhibit 10.1 hereto and incorporated by reference herein.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits . 10.1 Asset Purchase Agreement, dated December 20, 2024 between Tego Cyber Inc. and CloudCover, Ltd. (Minnesota), CloudCover, Ltd. (South Dakota) and CloudCover IP, LLC 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 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. TEGO CYBER INC. Date: December 26, 2024 By: /s/ Robert Mikkelsen Robert Mikkelsen Chief Executive Officer 3