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Re: maverick one post# 5273

Thursday, 03/24/2022 5:49:00 PM

Thursday, March 24, 2022 5:49:00 PM

Post# of 5439
Tell me this isn't smoke and mirrors!! LOL

The purpose of the transaction was to convert $1,065,086 in certain debt owed to Mr. Westmoreland into 2,366,859 shares of the Company’s common stock as per a certain Equity Exchange Agreement (as amended, the “Exchange Agreement”) by and between Daybreak, Reabold California LLC, a California limited liability company (“Reabold”), and Gaelic Resources Ltd., a private company incorporated in the Isle of Man and the 100% owner of Reabold (“Gaelic”), pursuant to which the parties propose for a plan of share exchange whereby (i) Gaelic will irrevocably assign and transfer all of its ownership interests in Reabold to Daybreak, and (ii) Daybreak will issue 160,964,489 shares of its common stock to Gaelic (the “Exchange Shares”), which will result in Reabold becoming a wholly-owned subsidiary of Daybreak named “Daybreak, LLC” and Gaelic becoming the owner of Exchange Shares (the foregoing transaction, the “Equity Exchange”), on the terms and subject to the conditions set forth in the Exchange Agreement
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