Section 1 – Registrant’s Business and Operations
Item 1.01. Entry Into A Material Definitive Agreement.
On November 21 2008, Westmont Resources, Inc., a Nevada corporation (the “ Company ”) entered into the Share Purchase Agreement (the “ Purchase Agreement ”), by and among the Company, Dr. Bruce E. Fischer, an individual, (“ Fischer ”) and Glenn McQuiston, an individual, (“ McQuiston ”), whereby the Company agreed to acquire all of the issued and outstanding capital stock of Avalon International, Inc, a Washington corporation (“ Avalon ”) in exchange for an aggregate of Twenty-two Million Five Hundred Thousand (22,500,000) shares of common stock of the Company, par value $0.001 per share (the “ Company’s Common Stock ”), which shall be issued in the name of F&M, Ltd., a Nevada corporation, (“F&M”). Mr. McQuiston has a Five percent (5%) ownership interest in F&M and Dr. Fischer is the Managing Director of both F&M and The Avalon Group, Ltd., a Nevis corporation, which has a Ninety-five percent (95%) ownership interest in F&M.
Section 2 – Financial Information
Item 2.01 Completion of Acquisition or Disposition of Assets.
The transaction described in Item 1.01, herein above, was completed on November 21, 2008.
Section 3 – Securities and Trading Markets
Item 3.02 Unregistered Sales of Equity Securities.
(a) See Item 1.01 herein above.
(b) On November 21, 2008, the Board of Directors of the Company adopted resolutions which caused shares of the Company’s Common Stock to be issued to its officers as compensation for services rendered, as follows: Peter Lindhout, President and Chief Executive Officer, - Five Million Six Hundred Sixty-six Thousand Six Hundred Sixty-six (5,666,666) shares; Javan King, Chief Operating Officer and Secretary, - Five Million Six Hundred Sixty-six Thousand Six Hundred Sixty-seven (5,666,667) shares; and Andrew Jarvis, Chief Financial Officer and Treasurer, - Five Million Six Hundred Sixty-six Thousand Six Hundred Sixty-seven (5,666,667) shares.
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