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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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SureTrader
FSNR News: Quarterly Report (10-q) 02/09/2018 02:11:41 PM
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
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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
#38869   Some lucky shareholder got a free chicken dinner pseeker 02/16/18 05:15:52 PM
#38868   FSNR closed at 0.06 up +49.63% on v-350 RedShoulder 02/16/18 04:20:33 PM
#38867   Should’ve waited for the .03’s. IMO. Best of luck! welloff 02/06/18 10:34:08 AM
#38866   Added a few here at 059. Still RJ Trotts 02/05/18 10:15:30 AM
#38865   Was Fsnr ever really “living”?? welloff 01/30/18 04:34:33 PM
#38864   fsnr is dead, dead, dead.....where's the merger???? DD 01/30/18 01:02:58 PM
#38863   I’ve talked to him years ago Dad4487 01/28/18 08:46:45 PM
#38862   Upon completion of the transaction, Dynamis shareholders are DD 01/26/18 07:53:32 PM
#38861   Freestone Resources, Inc. DD 01/26/18 07:51:19 PM
#38860   Thanks RJ Trotts for the information regarding the RedShoulder 01/26/18 12:20:49 PM
#38859   I just visited the Freestone Company website for RJ Trotts 01/25/18 10:28:39 PM
#38858   Remember a post that stated it would never Dad4487 01/23/18 03:30:22 PM
#38857   Another typical Fsnr ploy falling into oblivion! welloff 01/23/18 10:59:50 AM
#38856   Like I posted, Freestone has been a big Dad4487 01/17/18 09:57:51 AM
#38855  Restored I wonder if the FSNR CEO will follow pseeker 01/16/18 06:51:07 PM
#38854   Quote So why did he do such a Dad4487 01/16/18 03:34:17 PM
#38853   So why did he do such a poor Steady_T 01/16/18 02:56:55 PM
#38852  Restored "I see Clayton has found a new company DD 01/16/18 02:00:58 PM
#38851   Isn't Carter still holding millions of shares here? Sax 01/15/18 09:51:46 AM
#38849   Isn't Carter still holding millions of shares here? pseeker 01/12/18 02:12:36 PM
#38845   but with little or no support from anyone! DD 01/09/18 04:23:45 PM
#38844   I agree sir! The shell will remain welloff 01/08/18 05:11:19 PM
#38843   I don't believe this is make or break. leemalone2k3 01/08/18 05:07:57 PM
#38842   Lol. Unfortunately I don’t see Fsnr in the welloff 01/08/18 04:36:49 PM
#38841   I see you discovered the next product to leemalone2k3 01/08/18 04:30:41 PM
#38840   Well, if left as is... eventually kills the welloff 01/08/18 04:25:52 PM
#38839   Should be interesting considering they are fact! welloff 01/08/18 04:24:30 PM
#38838   A tapeworm prevents you from getting fat, so leemalone2k3 01/08/18 04:24:29 PM
#38837   An interesting perspective. Always welcome. Steady_T 01/08/18 04:22:50 PM
#38836   Quote”Contrary to some opinions on the board, I welloff 01/08/18 10:26:27 AM
#38835   Quote FSNR is required to put out a Dad4487 01/06/18 08:15:51 AM
#38834   Given the rate at which Dynamis moves I Steady_T 01/05/18 09:05:03 PM
#38833   Thanks Steady T, for the update. Lets RJ Trotts 01/05/18 09:00:17 PM
#38832   three blind mice, see how they run........... DD 01/05/18 07:53:39 PM
#38831   Lol. The three members, of course... who are welloff 01/05/18 07:21:07 PM
#38830   Thanks Steady T for the FSNR News on RedShoulder 01/05/18 06:13:30 PM
#38829   FSNR is required to put out a 8K.....duh! DD 01/05/18 04:54:46 PM
#38828   I don’t see any filings As of now Dad4487 01/05/18 04:50:38 PM
#38827   Where's the 8K filing? This should be a DD 01/05/18 04:43:08 PM
#38826   Lol. I know.! Same old junk with welloff 01/05/18 04:21:52 PM
#38825   I just posted the PR. Steady_T 01/05/18 04:14:34 PM
#38824   How did you like the latest update On welloff 01/05/18 04:09:40 PM
#38823   Lol. What.. are you serious. It’s the same welloff 01/05/18 04:07:07 PM
#38822   Update on merger. Steady_T 01/05/18 03:56:07 PM
#38821   Happy new year Are we rich yet? leemalone2k3 01/04/18 07:27:51 AM
#38820   Freestone has been a big family centered orchestration Dad4487 01/03/18 02:44:11 PM
#38819   Like the latest update? Lol I think Fsnr welloff 01/03/18 02:00:56 PM
#38818   Of course it’s Fsnr! welloff 01/02/18 07:41:15 PM
#38817   No Merger!!!!!! surprize surprize! DD 01/02/18 07:38:11 PM
#38816   There is no merger! How’s that for an update? welloff 01/02/18 12:24:40 PM
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