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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: Quarterly Report (10-q) 06:03 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
FSNR News: Notification That Annual Report Will Be Submitted Late (nt 10-k) 09/28/2017 02:41:44 PM
News News Alert: Quarterly Report (10-q) 11/21/2017 06:03:05 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
#38743   Left it that way? leemalone2k3 11/21/17 05:37:23 PM
#38742   Quote GOOD NITE! THE FNSR PARTY IS OVER!!!!! Unquote Dad4487 11/21/17 01:45:25 PM
#38741   I can't believe the shambles Clayton left this Sax 11/21/17 10:46:28 AM
#38740   GOOD NITE! THE FNSR PARTY IS OVER!!!!! DD 11/20/17 06:30:56 PM
#38739   I’m more inclined to believe this announcement was welloff 11/17/17 06:32:10 PM
#38738   I see three ways: 1. If they agree on the Dad4487 11/17/17 05:49:56 PM
#38737   Is the Merger Bad? No. Sax 11/17/17 04:10:37 PM
#38736   It’s more honesty, the truth with Fsnr is welloff 11/17/17 01:11:25 PM
#38735   Now wait a minute, isn’t that denigrating freestone? Or Dad4487 11/17/17 01:02:33 PM
#38734   I think the whole merger talk is just welloff 11/17/17 12:06:03 PM
#38733   200 shares wow! Old mm trick Dad4487 11/17/17 12:01:54 PM
#38732   I'd rather sell stock when people are buying. leemalone2k3 11/16/17 08:13:39 PM
#38731   Quote Tough to sell shares without tanking the Dad4487 11/16/17 08:03:52 PM
#38730   Tough to sell shares without tanking the leemalone2k3 11/16/17 07:27:02 PM
#38729   Typical penny stock day here at Fsnr. welloff 11/16/17 04:40:45 PM
#38728   What’s sad is some are so deep in Dad4487 11/16/17 10:15:41 AM
#38727   Looks like another day of the normal nothingness, welloff 11/16/17 09:59:27 AM
#38726   I really don't see much prospects for FSNR Ubertino 11/15/17 07:34:06 PM
#38725   It looks like Dynamis has complete control over pseeker 11/15/17 04:11:50 PM
#38724   FSNR DILUTION! True Administration first Dad4487 11/15/17 04:08:49 PM
#38723   FSNR DILUTION! DD 11/15/17 03:58:04 PM
#38722   Quote The merger will create a company with Dad4487 11/15/17 03:24:22 PM
#38720   Whoa, that changes everything... same product that cannot welloff 11/15/17 02:35:56 PM
#38719   Believe what you wish. Steady_T 11/15/17 02:23:56 PM
#38718   Wow! Impressive, same companies just different percentage ownership welloff 11/15/17 02:05:24 PM
#38717   Freestone and Dynamis created a join venture together. Steady_T 11/15/17 01:55:59 PM
#38716  Restored I really don't see much prospects for any Ubertino 11/15/17 11:30:43 AM
#38715   Do you see a merger? I thought Freestone and Dad4487 11/15/17 10:22:22 AM
#38714   I doubt that FSNR will ever see 8¢. Ubertino 11/15/17 09:22:05 AM
#38713   I agree, the reformulated petrozene has supposedly welloff 11/14/17 09:14:55 PM
#38712   Seems around 2015 that freestone supposedly improved the Dad4487 11/14/17 08:50:10 PM
#38711   Dynamis does not report its financial information. R&D Sax 11/14/17 05:58:17 PM
#38710   Quote: Agreed. Just because something's a dud, you don't pseeker 11/14/17 05:48:14 PM
#38709   I have explained all those things in previous Steady_T 11/14/17 03:39:31 PM
#38708   and that is... ? Sax 11/14/17 03:16:25 PM
#38707   Yes, there is...... Steady_T 11/14/17 02:02:22 PM
#38706   Do you know when the new formula was Sax 11/14/17 01:51:34 PM
#38705   I’d have to agree, it’s probably like the welloff 11/13/17 02:23:26 PM
#38704   I say the merger will be 99% no go. Dad4487 11/13/17 01:42:06 PM
#38703   I know, for such over embellished news, the welloff 11/13/17 01:24:20 PM
#38702   WOW! LOOK AT THAT VOLUME! NOT! Dad4487 11/13/17 12:23:50 PM
#38700   Quote “I'm good with my investment in Freestone. welloff 11/12/17 03:52:34 PM
#38699   Really. Do you know when the new formula Steady_T 11/12/17 03:46:25 PM
#38698   Quote: “Really, when was the last time you welloff 11/12/17 03:36:53 PM
#38697   Have any of these "informed sources" actually tested Steady_T 11/12/17 03:30:07 PM
#38696   Quote “Couldn't ask for a more informed source....... welloff 11/12/17 03:21:25 PM
#38695   Wow! I guess I should sell everything Steady_T 11/12/17 03:17:31 PM
#38694   Quote “, when was the last time you welloff 11/12/17 02:56:10 PM
#38693   Really, when was the last time you actually Steady_T 11/12/17 02:50:13 PM
#38692   I have my sources! Besides the obvious! welloff 11/12/17 02:01:57 PM
PostSubject