Company: NMEX
Filing Date: 2025-05-12
Form Type: 8-K
Source: 0001437749-25-016085
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Company: NORTHERN MINERALS & EXPLORATION LTD.
Filing Date: 2025-05-12
Form: 8-K
Item: Item 2.01
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Item 2.01 Completion of Acquisition or Disposition of Assets

On April 21, 2025 the Company purchased from Lost Creek Acquisitions LLC (Seller) various percentages of working interest in 14 natural gas producing wells on 9 different oil and gas leases. These oil and gas leases are located in Le Flore, McClain, Kingfisher and Pittsburg Counties of Oklahoma. The effective date of this acquisition is March 1, 2025. The acquisition price of these income producing wells is $293,000. The consideration paid by the Company for the working interest in these 14 wells on 9 oil and gas leases is $25,000 in cash and 4,000,000 restricted shares of the Company’s common stock.

The Seller, Lost Creek Acquisitions LLC, has agreed to a Post-Closing Performance Measurement. The six-month period spanning from March 1, 2025 through August 31, 2025 shall serve as the performance measurement period for these wells. These wells must meet the threshold of $2,900 net profit per month during this six-month performance period. If the threshold of the performance period is not met the Company has the right to unwind the transaction.

The Company also has the right but not the obligation to repurchase the shares from the Seller within 60 days following the end of the performance period. The repurchase price will be the lesser of 1) $0.10 per share or 2) the market price of the Company’s common stock at the average trading price for 10 trading days following the notice of intent to repurchase shares from Seller.

Northern Minerals & Exploration Ltd.

SEC Form 8K

Page 2

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of CertainOfficers; Compensatory Arrangements of Certain Officers.