could see a pr monday a.m., sometime tuesday, or maybe today, from sec filing:
TERAX ENERGY, INC.: SC 14F1, Sub-Doc 1, Page 1
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TERAX ENERGY, INC.
One Galleria Tower
13355 Noel Road, Suite 1370
Dallas, TX 75240
Tel: (972) 503-0900
INFORMATION STATEMENT PURSUANT TO
SECTION 14(f) OF THE SECURITIES EXCHANGE ACT OF 1934
AND RULE 14f-1 THEREUNDER
This Information Statement is being mailed on or about May 1, 2007, by Terax Energy, Inc. (the "Company") to the holders of record of shares of its common stock, $0.001 par value per share as of the close of business on April 27, 2007. This information statement is provided to you for information purposes only. We are not soliciting proxies in connection with the items described in this Information Statement. You are urged to read this Information Statement carefully. You are not, however, required to take any action.
You are receiving this Information Statement in connection with the appointment of one new member to the Company’s Board of Directors, in connection with the Company’s entry into a Purchase and Sale Agreement with Westar Oil, Inc. (“Westar”) pursuant to which the Company agreed to sell 55% of the issued and outstanding shares of common stock of the Company. At the initial closing the Company sold 9% of its issued and outstanding common stock at a price of $0.21 per share for a consideration of $129,780. Pursuant to the terms of the Purchase and Sale Agreement a second closing will be held, provided that as of July 15, 2007, there shall not be any bankruptcy or insolvency proceeding against the Company, pursuant to which the Company will sell to Westar 46% of its issued and outstanding common stock at a price of $0.21 per share.
This Information Statement is being mailed to stockholders of the Company pursuant to Section 14(f) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Rule 14f-1 thereunder.
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hopefully, we will see this start to up tick in anticipation of the news & symbol change.
