# EDGAR Filing Document

**Accession Number:** 0001589361
**File Stem:** 0001493152-23-001624
**Filing Date:** 2023-1
**Character Count:** 15279
**Document Hash:** 2a5c78c7930825b44816ab800a872278
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-001624.hdr.sgml**: 20230117

**ACCESSION NUMBER**: 0001493152-23-001624

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230110

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230117

**DATE AS OF CHANGE**: 20230117

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** White River Energy Corp.
- **CENTRAL INDEX KEY:** 0001589361
- **STANDARD INDUSTRIAL CLASSIFICATION:** TRANSPORTATION SERVICES [4700]
- **IRS NUMBER:** 453797537
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-192060
- **FILM NUMBER:** 23531776

**BUSINESS ADDRESS:**
- **STREET 1:** 609 W/ DICKSON ST., SUITE 102 G
- **CITY:** FAYETTEVILLE
- **STATE:** AR
- **ZIP:** 72701
- **BUSINESS PHONE:** (800) 203-5610

**MAIL ADDRESS:**
- **STREET 1:** 609 W/ DICKSON ST., SUITE 102 G
- **CITY:** FAYETTEVILLE
- **STATE:** AR
- **ZIP:** 72701

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Fortium Holdings Corp.
- **DATE OF NAME CHANGE:** 20210519

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Banner Energy Services Corp.
- **DATE OF NAME CHANGE:** 20200218

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MTB Corp.
- **DATE OF NAME CHANGE:** 20191205

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): January 10, 2023**

**<u>White River Energy Corp</u>**

(Exact name of registrant as specified in its charter)

<u>Nevada</u> <u>333-192060</u> <u>45-3797537</u> <br> (State or other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)

<u>609 W/ Dickson St., Suite 102 G Fayetteville, AR</u> <u>72701</u> <br> (Address of principal executive offices) (Zip Code)

<u>(800) 203-5610</u> <br> (Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act: None

**Item 3.02 Unregistered Sale of Equity Securities.**

On January 10, 2023, White River Operating LLC (the "Operator") and White River Energy Corp (the "Company") entered into three separate Participation Agreements (the "Agreements") with three investors (the "Investors"), pursuant to which, the parties agreed to the following: (i) each Investor agreed to pay the Company an initial amount of $50,000 for drilling one or more wells on the Company's mineral lease located in Rankin County, Mississippi in exchange for (A) a 1.0412490% working interest and (B) a 0.7809370% net revenue interest in such wells.

Under the Agreement, each Investor also agreed to participate in the drilling of the initial test well, and each party may also drill a substitute well if the test well is abandoned prior to reaching the agreed upon depth. Further, for any well drilled after the initial test well and substitute well referenced in the preceding sentence, the Investors agreed to the same cost sharing arrangements as provided for the initial test well.

The foregoing description of the terms of the Agreements and the transactions contemplated thereby does not purport to be complete and is qualified in its entirety by reference to the copy of the Form of Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

**Item 9.01 Financial Statements and Exhibits**

(d) Exhibits.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** |
| <br>**Exhibit #** | <br>**Exhibit Description** | **Form** | **Date** | **Number** |
| 10.1 | [Form of Participation Agreement\*](ex10-1.htm) |  |  | Filed |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |  |  | Filed |

---

\* Certain schedules and other attachments have been omitted. The Company undertakes to furnish the omitted schedules and attachments to the Securities and Exchange Commission upon request.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **White River Energy Corp** | **White River Energy Corp** |
| Date: January 17, 2023 | By: | */s/ Jay Puchir* |
|  | Name: | Jay Puchir |
|  | Title: | Chief Executive Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

---

| | |
|:---|:---|
| ![](ex10-1_001.jpg) |  |
| ![](ex10-1_001.jpg) |  |
| ![](ex10-1_001.jpg) | **White River Operating LLC** |
| ![](ex10-1_001.jpg) | 27073 HWY 15, Ferriday LA 71334 |
| ![](ex10-1_001.jpg) |  |
| ![](ex10-1_001.jpg) |  |

---

January 10, 2023

**Participation Agreement for DENMISS LLC NO 1 Well c/o the *White River Drilling Club*.**

When executed by you in the manner provided below, this Participation Agreement ("**Agreement**") will evidence an agreement between **WHITE RIVER ENERGY CORP.** (hereinafter referred to as "**Assignor**") and ____________________ (hereinafter referred to as "**PARTICIPANT**") covering your participation in a well drilled on that certain 160 <u>+</u> mineral acres; Section 14, SE/4 of SW/4, Section 23, NW/4 of SE/4 and SE/4 of NW/4 and SW/4 of NE/4, T7N-R4E, Pisgah Oil Field, Rankin County, Mississippi (the "**Pisgah Prospect**") under that certain Lease Agreement dated as of July 1, 2022 by and between White River E&P LLC c/o Sky3D LLC and Pearl River Interior, L.L.C (the "**Lease**"). **White River Operating LLC** shall be designated as "Operator" of the well(s) Drilled therein. The terms of this Agreement are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;I. **EXHIBITS** 

The following exhibits are attached hereto and made a part of this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. <u>Exhibit A: Well Location Plat</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. <u>Exhibit B: Authority for Expenditure ("AFE")</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. <u>Exhibit C: Wiring Instructions</u> 

&nbsp;&nbsp;&nbsp;&nbsp;II. **AGREEMENT TO CONVEY INTEREST IN LEASES** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. **PARTICIPANT** shall fund an initial amount of $50,000.00 for 1.0 **UNIT(s)** at a cost of $50,000.00 **per UNIT** to Assignor (the "**Payment** "), which Assignor will in turn
 use to drill the well or wells described in further detail herein (beginning with the "**Test Well**" described in Section III hereunder). The Payment is due by **January 15<sup>th</sup>, 2023**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. In
 exchange for the Payment set forth above, the **PARTICIPANT** is receiving: (i) a 1.0412490%
 working interest **per UNIT** in the **Test Well** resulting from the Pigsah Prospect;
 and (ii) a 0.7809370% net revenue interest **per UNIT** in the **Test Well** resulting
 from the Pigsah Prospect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. It
 is understood and agreed that Assignor (or one of its affiliates) is retaining a twenty five
 percent (25%) working interest in the Test Well as a "promote". As such, the **PARTICIPANT** is only receiving a 1.0412490% working interest **per UNIT** in such
 well, despite having the Payments total 1.3883320% **per UNIT** of the total cost of the
 AFE.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. The
 Assignor shall be responsible for all costs associated with the Test Well in excess of the
 Payments.

&nbsp;&nbsp;&nbsp;&nbsp;III. **TEST WELL(S)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. **PARTICIPANT** agrees to participate in the drilling of the initial test well, which shall be designated
 as the DENMISS LLC No. 1, "TEST WELL" means the well that is proposed and drilled
 in the Prospect. The Well shall be drilled to a depth sufficient to evaluate the prospective
 multiple zones being the Rodessa Sand and Hosston Formations to a depth of 11,500'
 (the "**Contact Depths** "). See AFE #1, <u>Exhibit B.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The
 initial drilling well shall be performed by **White River Operating, LLC** for an agreed
 price. A copy of the drilling contract will be furnished to **PARTICIPANT** upon request.

&nbsp;&nbsp;&nbsp;&nbsp;IV. **SUBSTITUTE TEST WELL** 

If the initial drilling is abandoned prior to reaching contract depths due to heaving shale, saltwater flow, rock salt, dome formation, lost circulation, impenetrable formation, mechanical difficulty, or other conditions rendering further drilling impractical, any party who participated in drilling the Well shall have the option, but not the obligation, to propose and drill a substitute well (hereinafter referred to a "**Substitute Test Well**"). The parties who participate drilling the Well shall have the right to participate in other zones of said Well and/or drilling the Substitute Test Well by following the same procedure and the same elections set forth in Section III of this Agreement for the initial Well.

&nbsp;&nbsp;&nbsp;&nbsp;V. **COST OF SUBSEQUENT/DEVELOPMENT WELLS** 

For any well(s) drilled after the drilling of the Test Well and any Substitute Test Well within a unit area in which **PARTICIPANT** participates, **PARTICIPANT** share of costs shall be the same as a "TEST WELL".

&nbsp;&nbsp;&nbsp;&nbsp;VI. **OPERATING AGREEMENT** 

Upon drilling of the initial well, Operator shall forward a standard AAPL-610 Joint Operating Agreement (the "**JOA"**) **PARTICIPANT** applicable to all operations hereunder for your review and execution. **White River Operating LLC** shall be designated as Operator in said JOA. In the event of a conflict between the terms and provisions of this Agreement and the JOA, this Agreement shall prevail.

&nbsp;&nbsp;&nbsp;&nbsp;VII. **INFORMATION TO BE FURNISHED** 

**White River Operating LLC** shall notify **PARTICIPANT** when actual drilling of a well is commenced and shall, upon request, furnish **PARTICIPANT** with copies of all regulatory permits for the Mississippi Office of Conservation or a status of the drilling progress of the well via the ***White River Drilling Club*** website.

&nbsp;&nbsp;&nbsp;&nbsp;VIII. **INSURANCE** 

At all times while conducting operations under this Agreement, Assignor or Operator, as applicable, shall carry or cause to be carried adequate insurance coverage for the benefit of the **PARTICIPANT**, and shall ensure **PARTICIPANT** is covered under the limits of the **White River Operating LLC** insurance policy.

&nbsp;&nbsp;&nbsp;&nbsp;IX. **PROVISION CONCERNING TAXATION** 

Nothing in this agreement or in any of the exhibits attached hereto is intended to create or shall it be deemed to create a joint venture or a mining or other partnership of any kind, or to provide for or create any joint liability.

White River Operating LLC will not be responsible for providing a tax opinion to the **PARTICIPANT** regarding any potential **Intangible Drilling Cost** (**"IDC"**) deductions realized by the **PARTICIPANT**. **White River Operating LLC**, will furnish documentation to the **PARTICIPANT** or the **PARTICIPANT'S** tax counsel upon request to allow them to determine if the PARTICIPANT is eligible for IDC deductions.

&nbsp;&nbsp;&nbsp;&nbsp;**X.** **NOTICES** 

All notices, proposals, reports and other communication given under this Agreement shall be sent to the parties at the following addresses (please complete your contact information):

---

| |
|:---|
| **PARTICIPANT** |
| ___________________________________ |
| **White River Operating LLC** |
| 27073 HWY 15, Ferriday LA 71334 |

---

And to such other addressees as the parties may designate in writing, notices, etc. may be sent by mail, fax or expedited delivery service. Any notice, etc. shall be deemed to be received by the addressee on the day after it is actually sent.

&nbsp;&nbsp;&nbsp;&nbsp;XI. **ASSIGNMENTS** 

The form of assignment(s) shall be mutually agreed upon, and **White River Energy LLC** consents to the assignment(s).

&nbsp;&nbsp;&nbsp;&nbsp;XII. **HEIRS, SUCCESSORS, AND ASSIGNS** 

Any assignment or transfer of an interest under this Agreement shall be expressly made subject to this Agreement and the JOA contemplated in Article VIII of this Participation Agreement. In any such assignment, the assigning party shall furnish its **PARTICIPANT** with a copy of this Agreement and all exhibits attached thereto, and the **PARTICIPANT**(s) shall agree to assume and be bound by the terms and provisions hereof.

&nbsp;&nbsp;&nbsp;&nbsp;XIII. **CONTROLLING LAW** 

This Agreement and the parties' rights and obligations under it shall be governed by the Laws of the State of Mississippi.

&nbsp;&nbsp;&nbsp;&nbsp;XIV. **EFFECT OF PARAGRAPH HEADINGS** 

The headings of the paragraphs herein have been used for convenience only and shall not be used in construing the provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;XV. **EFFECTIVE DATE** 

This Agreement shall be effective for all purposes as of January 10, 2023, regardless of the date of its actual execution.

&nbsp;&nbsp;&nbsp;&nbsp;XVI. **ACCEPTANCE** 

This Agreement may be executed in multiple counterparts, all of which taken together shall constitute one (1) Agreement.

---

| |
|:---|
| Sincerely, |
| **WHITE RIVER ENERGY CORP, PARENT COMPANY** |
| **WHITE RIVER E&P LLC, SUBSIDIARY** |
| **WHITE RIVER OPERATING LLC, SUBSIDIARY** |
| **SKY3D LLC, AFFILIATE** |
| By: |

---

Randy May, Executive Chairman, on behalf of all of the above listed entities

---

| |
|:---|
| **<u>PARTICIPANT</u>** |
| By: |
| Name: |

---

AGREED TO AND ACCEPTED THIS 10<sup>TH</sup> DAY OF January, 2023.