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Freestone Resources and Dynamis Energy Announce Merger Agreement

Nov 06, 2017

Freestone Resources, Inc. (“Freestone”) (OTCQB: FSNR) and Dynamis Energy, LLC (“Dynamis”) today announced the signing of a merger agreement under which Freestone and Dynamis will combine their businesses in an all-stock transaction.

Upon completion of the transaction, Dynamis shareholders are expected to own 75 percent of the new combined entity (not including its existing shares) and Freestone current shareholders will own 25 percent, based on an implied value of $0.195 per share for Freestone’s stock. The combined entity will have offices in Idaho and Texas, and a joint management team to be announced. The transaction is expected to be non-taxable to Freestone’s and Dynamis’ shareholders.

Michael McGhan, CEO of Freestone Resources said, “We believe that this merger is in the best interest of our company and its shareholders and creates an exceptional opportunity for growth and expansion for our oil & gas technology products and other markets. Dynamis’ mission and objective complements ours in that we are both committed to making beneficial use of products and energy developed from waste products.”

Kevin McNulty, CEO of Dynamis said, “We are pleased to announce the proposed transaction with Freestone Resources. We believe that this merger will create a great opportunity for our company to enlarge its portfolio of green technology offerings. Having worked closely with Freestone through our existing joint venture, we believe the combination of the two companies should enhance our ability to develop and expand our product offerings into new markets.”

Dynamis previously teamed with Freestone to further develop the production and marketing of Petrozene and related products. Freestone is the developer of its proprietary Petrozene technology. This product has displayed unparalleled results in solving several key oilfield and refinery problems. Petrozene is designed to prevent and eliminate the build up of paraffins and asphaltenes from crude oil products, as well as improving the viscosity of such crude. Paraffin and asphaltene buildup is an industry-wide, multi-billion dollar problem that occurs when paraffin crystals within the oil base combine into a waxy buildup. Petrozene has been shown to be effective in tank bottom cleanup, clean up of rail cars and tanker trucks while in operation, as well as for use downhole in the improvement of yields of operating oil wells.

It should be noted that the closing of the merger is subject to numerous conditions and there can be no assurance that these conditions will be met or that the merger will close.

About Freestone Resources, Inc.:

Freestone Resources is a Dallas, Texas based oil and gas technology development company. The continuing goal of the Company is to develop new technologies that allow for the utilization of our vast resources in an environmentally responsible and cost effective way. http://www.freestoneresources.com/.

About Dynamis Energy, LLC:

Dynamis is an Eagle, Idaho based technology development company focused on waste management and energy production from solid wastes to provide sustainable economic and environmental benefits, while turning such waste into usable products. As such, Dynamis provides technology to recycle municipal and other solid wastes to produce sustainable economic and environmental benefits, in the form of fixed and mobile waste-to-energy plants. Dynamis has a network of agents worldwide to support the sale of its technology and products. Currently Dynamis has projects in various stages of development in Europe, Asia, South America, the Caribbean, and the US.

http://www.dynamisenergy.com

The 8K filed with the SEC regarding the Merger:
https://ih.advfn.com/p.php?pid=nmona&article=76026787

Link to Freestone Resources (FSNR) Home web site and news:

http://freestoneresourcesinc.com/blog/

     
FSNR shares held by the Officers, Directors, and the JV Dynamis to a total of 38,616,442, the increase is per the recently released 10-K:

None of the officers, directors, or the JV have sold a single share - not one share.

Below is a breakdown of shares owned in desending order of share size held:

Gerald Johnston, Advisory Board ... 12,904,167  *** (The major shareholder, and is the retired CFO of Tyson Foods, a multi billion dollar company) 

http://www.sec.gov/Archives/edgar/data/1019049/000112178116000385/xslF345X03/gmjfm421016.xml

Clayton Carter, Vice President of Opperations ... 7,605,000

http://www.sec.gov/Archives/edgar/data/1089319/000112178115000267/xslF345X03/ccarterfm492415.xml

Don Edwards, Investment Officer ... 6,500,000

http://www.sec.gov/Archives/edgar/data/1089319/000112178115000269/xslF345X03/gdefm492415.xml

Michael McGhan, CEO, Chairman, President ... 6,000,000 *** (Former CEO of both billion dollar companies Hanover Compressor- now Exterran, and Valerous Compression Services)

http://www.sec.gov/Archives/edgar/data/1089319/000112178116000374/xslF345X03/mmcghanfm411116.xml

JV Dynamis ... 5,000,000

http://ih.advfn.com/p.php?pid=nmona&article=72661986
 
Paul E. Babb, Chief Financial Officer and Director ... 607,275

NOTE: None of the above have ever sold a single share
     
           


Below is an aerial photo of the CTR facility wholly owned by Freestone Resources:


Link To Freestone Resource's CEO blog:
http://freestoneresourcesinc.com/blog/ceo-blog/


About PETROZENE:

PETROZENE is a solvent that breaks down paraffin, disperses oil tank sludge, and has other unique industrial-use qualities. PETROZENE is made from a byproduct of recycled petroleum-based products, so it will not contaminate the oil reserve to which it is being applied. Furthermore, the process that creates PETROZENE helps reduce the worldwide problem that petroleum waste products pose to our environment every year.

History:

The discovery of PETROZENE began with a desire to solve the environmental hazards that various petroleum waste products pose to the environment. Freestone Resources, Inc. has worked with numerous industry partners to recycle these post-consumer materials, and utilize their byproducts in a proprietary way for the oil and gas industry.

PETROZENE has many uses within the oil industry. Below are the applications that are currently available:

Oil Tanker & Oil Tank Solutions:

PETROZENE has been shown to be an effective dispersant of oil sludge buildup. The research efforts of Freestone Resources, Inc. and industry partners have shown it to be especially effective in large, long range oil tankers. With the proper amount of PETROZENE applied to each shipment of oil, they have produced results that show a dramatic reduction in oil sludge buildup on the bottom of the tanks. These same results have been shown in oil storage tanks as well. With the proper application of PETROZENE, costs and operational downtime due to cleaning can be cut dramatically for each.

Oil Well Enhancement:

Freestone Resources, Inc. has also done thorough research concerning oil well enhancement with the application of PETROZENE. Freestone has discovered that a minimal amount of PETROZENE utilized down the wellbore will dissolve and further inhibit Paraffin and asphaltene buildup in the well casing. This buildup of paraffin causes other problems such as clogging up lines, pump failures, pressure bursts, and seal failures which can all be dramatically reduced with the proper application of PETROZENE.

Pipeline Solutions:

Numerous independent studies have shown that a minimal amount of PETROZENE decreases the viscosity of heavy oil. These tests indicate that PETROZENE can be utilized in pipelines that transport heavy oil in order to increases their efficiency and flow rate.

We are currently researching many other uses and applications. If you or your company feel there may be a unique application within your business or would like to work with us to create a specific solution, feel free to contact us. 

Petrozene Web Site;
http://www.freestoneresources.com/petrozene/

 

 

 

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FSNR News: Amended Quarterly Report (10-q/a) 12/04/2017 10:30:18 AM
FSNR News: Quarterly Report (10-q) 11/21/2017 06:03:05 AM
FSNR News: Notification That Quarterly Report Will Be Submitted Late (nt 10-q) 11/13/2017 11:38:42 AM
FSNR News: Current Report Filing (8-k) 11/06/2017 04:35:32 PM
FSNR News: Annual Report (10-k) 10/05/2017 11:43:48 AM
PostSubject
#38706  Sticky Note Do you know when the new formula was Sax 11/14/17 01:51:34 PM
#34850  Sticky Note Officers, Directors, and JV own 38,009,167 shares collectively. RedShoulder 02/10/16 11:39:04 PM
#33064  Sticky Note A personal perspective on Freestone Resources, Inc. falconer66a 08/13/15 03:58:44 PM
#38796   I agree Red. It is all about RJ Trotts 12/13/17 10:09:20 PM
#38795   What does Dynamis bring to the table RJ? RedShoulder 12/13/17 06:22:59 PM
#38794   Nice to see that 14k accumulated for sure. RJ Trotts 12/13/17 05:20:44 PM
#38793   .000001 DD 12/13/17 12:35:34 PM
#38792   Fsnr down over 26% early today. How much welloff 12/13/17 10:47:39 AM
#38791   FSNR * 0.068 * Up 0.017 * +33.33% gain RedShoulder 12/12/17 04:16:15 PM
#38790   Getting close to the "Dump your Losses" time.....tick, tock DD 12/12/17 03:22:54 PM
#38789   It's close! Ubertino 12/06/17 03:15:22 PM
#38788   Down again. Boy, for such great news Fsnr welloff 12/06/17 12:42:10 PM
#38787   How long before another drop in the pps welloff 12/03/17 09:45:36 PM
#38786   Quote how long before delisting ????? how many Dad4487 12/03/17 05:05:17 PM
#38785   5¢! I guarantee it!! Ubertino 12/03/17 10:51:32 AM
#38784   how long before delisting ????? DD 12/03/17 12:59:30 AM
#38783   I like the last part.... “may have an welloff 12/01/17 01:07:05 PM
#38782   Read this: NOTE 10 – GOING CONCERN There Dad4487 12/01/17 01:03:59 PM
#38781   Manipulation Only to drop it to buy lower. Dad4487 12/01/17 12:23:54 PM
#38780   Timber.......! Fsnr back down welloff 12/01/17 11:00:17 AM
#38779   Just because one made an investment and found Sax 11/30/17 10:30:00 AM
#38778   The comparison of plant to human is really Dad4487 11/30/17 08:42:47 AM
#38777   Quote “Blaming a penny stock for promoting the welloff 11/30/17 08:30:28 AM
#38776   Snip On the plus side, consider yourself educated Dad4487 11/29/17 05:45:37 PM
#38775   Every uneducated investor makes this mistake in penny land. leemalone2k3 11/29/17 05:31:25 PM
#38774   Snip Blaming a penny stock for promoting the Dad4487 11/29/17 05:23:20 PM
#38773   Lol. I’m sure you would sir. Hope you welloff 11/29/17 05:18:56 PM
#38772   I'll tell you, if it did run, I'd leemalone2k3 11/29/17 05:12:17 PM
#38771   Yet no one could buy their product on leemalone2k3 11/29/17 05:09:44 PM
#38770   Quote “In that case, would you consider it welloff 11/29/17 04:52:55 PM
#38769   Snip It ran once to almost a Dad4487 11/29/17 04:52:19 PM
#38768   Never say never. It ran once to almost leemalone2k3 11/29/17 04:38:40 PM
#38767   Morality is always relevant or one has no welloff 11/29/17 04:33:45 PM
#38766   For the seller its a win, impossible to leemalone2k3 11/29/17 04:29:18 PM
#38765   If the stock “hypothetically” went to $3.00 a welloff 11/29/17 04:23:55 PM
#38764   Quote Unsuspecting Person? The Market Makers will be Dad4487 11/29/17 04:19:16 PM
#38763   Just because one made an investment and found leemalone2k3 11/29/17 03:45:52 PM
#38762   Quote I don't denigrate my own investments. That Dad4487 11/29/17 11:10:17 AM
#38761   Quote I was asking about the advice you Dad4487 11/29/17 08:51:00 AM
#38760   What answer is required to a historical statement? Steady_T 11/29/17 12:11:52 AM
#38759   Quote So, no answer to the question about Dad4487 11/28/17 11:09:04 PM
#38758  Restored So, no answer to the question about the Steady_T 11/28/17 02:34:00 PM
#38757   Quote Dynamis will now have control over Petrozene Dad4487 11/28/17 12:02:09 PM
#38756  Restored Is that what you plan to do?If it Steady_T 11/28/17 10:55:21 AM
#38755   Getting closer to pr, probably the last stand Dad4487 11/28/17 10:16:27 AM
#38754   getting closer to selling stock loss tax time........ DD 11/27/17 04:24:15 PM
#38753   It’s getting close to the deadline for the welloff 11/27/17 11:34:54 AM
#38752   There’s the small buy Dad4487 11/27/17 09:47:27 AM
#38747   Back down to pre PR levels. Just as welloff 11/22/17 11:40:48 AM
#38746   Small sale not sure a buy will come. Yeah Dad4487 11/22/17 11:31:24 AM
#38745   Nice post Sax, and very truthful. The RJ Trotts 11/22/17 10:04:53 AM
#38744   FSNR is a "TURKEY" DD 11/22/17 09:19:43 AM
#38743   Left it that way? leemalone2k3 11/21/17 05:37:23 PM
PostSubject