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Re: ABBAZABBA post# 3833

Monday, 08/28/2017 7:52:49 PM

Monday, August 28, 2017 7:52:49 PM

Post# of 3850
Sister still on vacay, found this elewhere, did not yet read, just copied and pasted for now.. Will read later.

Victory and Amacor went ino an agreement where Victory will be able use AMacor's intellectual property for no fee and Amacor will contribute 5 Million to Victory to help them grow.
and then Victory will have a reverse split of their common stock and then thy will have more authourized common stock that will allow a conversion of theirpreferred stock.
Victory and Navitus Energy Group (“Navitus”) entered into a divestiture agreement pursuant to which, upon obtaining Shareholder Approval, Victory will divest its 50% ownership interest in Aurora Energy Partners (“Aurora”) through the sale of such interest to Navitus;
Each of the AVV insiders and Victory insiders entered into a lock-up and resale restriction agreement imposing transfer restrictions on the VYEY stock received in connection with the transactions contemplated by the Transaction Agreement and related agreements; and
Victory and Kenneth Hill, the Chief Executive Officer of Victory, entered into an amended and restated employment agreement.
• Upon obtaining Shareholder Approval:
AVV will fund the remaining $5 million in cash to Victory (less amounts contributed during the period prior to the Shareholders Meeting);
The Board of Directors of Victory will be expanded to seven members and AVV will appoint the additional member, giving AVV control of Victory;
The Series B Preferred Stock received by AVV will convert into common stock constituting 90% of the issued and outstanding common stock of Victory on a fully-diluted basis, after giving effect to the issuances of all securities of Victory contemplated by Transaction Agreement and related agreements; and
Victory will transfer its interest in Aurora to Navitus and no longer engage in the upstream oil and gas exploration and production business.
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