Kodiak Energy, Inc. (KDKN)

[Mr B]

Form 8-K for KODIAK ENERGY, INC.

http://biz.yahoo.com/e/100305/kdkn.ob8-k.html

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5-Mar-2010

Entry into a Material Definitive Agreement, Completion of Acquisition or Disp



Item 1.01 Entry into a Material Definitive Agreement
On March 1, 2010, Kodiak Energy, Inc. ("Kodiak") closed all transactions related to a loan guarantee enabling Cougar Energy, Inc. ("Cougar Energy"), a private company, to secure financing with a Canadian bank. The closing of Cougar Energy's formal financing agreement (the "Agreement") with a Canadian bank was announced through a press release by its publicly traded parent, Cougar Oil and Gas Canada, Inc. ("Cougar"), on March 2, 2010 and subsequent 6-K. Kodiak provided guarantee to the Agreement between Cougar Energy and the Canadian bank consisting of two credit facilities. The first credit facility is a revolving demand loan in the amount of Cdn$1,000,000 at a per annum rate of prime interest plus 3.5%. The second credit facility is a non-revolving acquisition/development demand loan bearing an annual per annum interest rate of prime plus 3.0%. The loan was drawn down by Cougar Energy on March 1, 2010. All documentation related to the Agreement was concluded prior to the draw down, to be effective at the funding.

Kodiak will continue to function as a parent company with respect to the Cougar assets, now through its shareholder position in Cougar Oil and Gas Canada, Inc. as previously press released on January 26, 2010 and subsequent 6-K filing. Cougar Energy's performance will be reflected on Kodiak's consolidated financial reporting.





Item 2.01 Completion of Acquisition or Disposition of Assets
On March 1, 2010, Kodiak completed the acquisition of 64.6% of the common stock ownership of Cougar Oil and Gas Canada, Inc. The description of the acquisition and the related acquisition agreement are incorporated by reference from the filing made by Cougar Oil and Gas Canada, Inc. on Form 6-K, filed with the SEC on January 26, 2010, including the form of agreement filed therewith as Exhibit 4.2.





Item 9.01 Financial Statements and Exhibits
(a) Financial Statements

The financial statements of the acquired business will be filed within 71 days after the date of this report, in accordance with Item 9.01 (a)(4).

(b) Pro Forma Financial Information

The pro forma financial statements of the acquired business will be filed within 71 days after the date of this report, in accordance with Item 9.01 (b)(2).

(c) Exhibits

The form of acquisition agreement is incorporated by reference from Exhibit 4.2 of the Form 6-K of Cougar Oil and Gas Canada Inc. filed on January 26, 2010.