Denver-based real estate investor Home Treasure Finders Inc. entered into a stock purchase agreement with certain shareholders of Dallas-based oil and gas company Energy Hunter Resources Inc. in a deal set to close within the next 30 to 60 days.
Under the agreement, the Energy Hunter shareholders, which represent 91% of the company's ownership, will own about 88% of Home Treasure's post-closing outstanding shares on a fully diluted basis.
Energy Hunter shareholders will receive a share of Home Treasure convertible preferred series A stock for each common stock they own, convertible into 16 shares of the latter's common stock.
Energy Hunter is expected to exit all of its oil and gas assets as a subsidiary of Home Treasure, which will then change its name to Generation Hemp Inc. and become a pure-play hemp company.
Energy Hunter Founder, Chairman and CEO Gary Evans said the company is in the process of listing its securities to the OTCQB Venture Market and is also planning to list on the Nasdaq Capital Market Exchange.
