Item 1.01 Entry into a Material Definitive Agreement.
On November 25, 2014, Siga Resources, Inc. (the “Company”) entered into a Letter of Intent (the “LOI”) with Gold Lakes Corp. (“Gold Lakes”). The LOI sets forth basic terms and conditions whereby the Company would acquire all of the issued and outstanding shares of Gold Lakes pursuant to a Share Exchange, which would result in Gold Lakes becoming a wholly owned subsidiary of the Company. The Company would issue 25 million shares of common stock to the current holders of Gold Lakes in exchange for 100% of the issued and outstanding shares of Gold Lakes. The Company would also effect a name change to Gold Lakes Corp. (http://www.goldlakes.com), a ticker change, a 200:1 reverse split, and commit to $1 million in financing over the next three years. The Company is currently conducting its due diligence and the parties have agreed to enter into a Definitive Agreement by December 31, 2014.
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