BrewBilt Brewing Co (BRBL)

[LeGoose]

8K just filed. Blackridge agreed to take 200mil shares instead of 730mil.

0.0001s are close to falling!

http://www.sec.gov/Archives/edgar/data/1399306/000139930616000018/siml8k042616.htm



GRID PETROLEUM CORP and BLACKBRIDGE CAPITAL, LLC
SETTLEMENT AND RELEASE AGREEMENT


THIS SETTLEMENT AND RELEASE AGREEMENT (“Agreement”), is entered into this 25th day of April 2016, by and between Grid Petroleum Corp., (“GRPR”, “Company”), and Blackbridge Capital, LLC (“Blackbridge”).

WHEREAS, GRPR currently owes 729,955,556 Shares of GRPR Common Stock to Blackbridge Capital pursuant to a Convertible Note (“Convertible Note”) dated September 30, 2015, and subsequent conversion notices presented by Blackbridge.

WHEREAS, on March 9, 2016, GRPR entered into an Asset Purchase Agreement and a subsequent change of management took place.

WHEREAS, the Company is in the early stages of restructuring, changing the direction of the business the Company is engaged in, and moving the Company forward in a positive manner.

WHEREAS, the Board of Directors of the Company feels it to be in the best interest of the Company and the Shareholders to reduce the outstanding debt of the Company incurred by the previous management.

WHEREAS, on April 22, 2016, Blackbridge Capital agreed to settle the Convertible Note with a reduction of outstanding Shares owed to Blackbridge and to release any remaining obligation the Company may have to Blackbridge pursuant to the Convertible Note.

THEREFORE, it is agreed by both the Company and Blackbridge, that the outstanding 729,955,556 Shares of GRPR Common Stock owed to Blackbridge, by the Company, shall be reduced to a total amount of 200,000,000 Shares of Common Stock as full and final settlement of both current and contemplated future conversion notices of the September 30, 2015 Convertible Note.

FURTHER, it is agreed by both the Company and Blackbridge that Blackbridge shall release all future claims to subsequent conversions of the Note, the Company will have no further obligation to Blackbridge under that Convertible Note and Blackbridge shall be forever barred from seeking further conversions or claiming obligations of the Company under the Convertible Note.

FURTHER, 200,000,000 Shares of GRPR Common Stock shall be issued and delivered to Blackbridge in increments not to exceed more than 9.99% of the issued and outstanding stock of the Company.