Wolverine Resources Corp (WOLV)

[tonyo524]

Be real careful with this one. Looks like there will be a definite a/s increase of at least 700 million.

Wolverine entered into a Share Purchase Agreement with our Director, David Chalk, pursuant to which we have agreed to issue in a private placement 400,000,000 shares of our common stock of the in consideration for one-third of the net proceeds that Mr. Chalk may realize from the sale of Mr. Chalk’s 15% equity interest in Decision-Zone Inc.

The Agreement is subject to our Company increasing its authorized capital to allow for the issuance of the consideration shares. At April 21, 2017, the agreement has not yet closed.

On April 14, 2015 Wolverine entered into a Share Exchange and Royalty Agreement with Enigma. and Dr. David Chalk pursuant to which Wolverine is seeking to acquire from Dr. Chalk 25% of the issued and outstanding securities of Enigma for the purchase price of USD $3,000,000, to be paid by the issuance of 300,000,000 common shares of Wolverine at a deemed price of USD$0.01 per share. Dr. Chalk is a Director of Enigma.

In addition, the app isn't even in current operating status. All I can see at this point is lower pps ahead.

The Enigma™ SECURE application is not yet commercially available and remains in development. The application is built using proprietary, patent protected fifth generation programming language (5GL) and is compatible with Apple iOS, Android and Blackberry operating systems. As of the date of this 10-Q, third party testing of the application has been completed and Wolverine anticipates that the application will be available for commercial download within 10 months following completion of the USD$2,500,000 private placement contemplated by the Share Exchange and Royalty Agreement.

Tread carefully. Enjoy the weekend!