Document:

EXHIBIT 4.1

 

Okmin Resources, Inc.

Certificate of Designation

Series A Convertible Preferred
Stock

 

WHEREAS, the
Board of Directors of the Corporation desires to designate a series of the Corporation’s preferred stock, par value $0.0001 per
share, as Series A Convertible Preferred Stock and desires to fix and determine the number, voting rights, designations, preferences,
qualifications, privileges, limitations, restrictions, options, conversion rights and other special or relative rights of such Series
A Convertible Preferred Stock;

 

WHEREAS, the
Board of Directors of the Corporation desires that such designation of the Series A Convertible Preferred Stock be deemed effective as
of the date upon the filing of a certificate of designation with the Secretary of State of the State of Nevada;

 

WHEREAS, it is
deemed to be in the best interests of the Corporation and its shareholders that the Corporation take the following actions.

 

NOW, THEREFORE, BE IT:

 

RESOLVED, that
pursuant to the authority vested in the Board of Directors of the Corporation, the Board of Directors of the Corporation hereby fixes
and determines the number, voting rights, designations, preferences, qualifications, privileges, limitations, restrictions, options, conversion
rights and other special or relative rights of the first series of the preferred stock, par value $0.0001 per share, of the Corporation
which shall consist of 5,000,000 shares and shall be designated as Series A Convertible Preferred Stock as follows:

 

Section 1. Designation;
Number of Shares; Rank.

 

		(a)	There shall be created from the 50,000,000 shares of Preferred Stock authorized to be issued by the Articles
of Incorporation, a series of Preferred Stock designated as “Series A Convertible Preferred Stock” (the “Convertible
Preferred Stock”), and the authorized number of shares constituting the Series A Convertible Preferred Stock shall be 50,000,000.
Such number of shares may be decreased by resolution of the Board of Directors and by the filing of a certificate of decrease with the
Secretary of State of the State of Nevada; provided that no such decrease shall reduce the number of authorized shares of Convertible
Preferred Stock to a number less than the number of shares then outstanding.

 

		(b)	The Convertible Preferred Stock, upon liquidation, winding-up or dissolution of the Corporation, ranks
on a parity, in all respects, with all the Common Stock.

 

Section 2. Definitions.

 

As used herein, the following
terms have the following meanings:

 

“Articles of Incorporation”
shall mean the Articles of Incorporation of the Corporation.

 

“Board of Directors”
shall mean the Board of Directors of the Corporation or, with respect to any action to be taken by the Board of Directors, any committee
of the Board of Directors duly authorized to take such action.

 

“Business Day”
shall mean any day other than a Saturday, Sunday or other day on which commercial banks in the City of New York are authorized or required
by law or executive order to close.

 

“Common Stock”
shall mean the common stock, par value $0.0001 per share, of the Corporation or any other capital stock of the Corporation into which
such Common Stock shall be reclassified or changed.

 

    	 

    	 

    

 

“Common Stock Equivalents”
means any securities of the Corporation or its subsidiaries which would entitle the holder thereof to acquire at any time Common Stock,
including, without limitation, any debt, preferred stock, rights, options, warrants or other instrument that is at any time convertible
into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

 

“Corporation”
shall mean Okmin Resources, Inc., a corporation organized and existing under the laws of the State of Nevada.

 

“Conversion Agent”
shall have the meaning assigned to such term in Section 10.

 

“Conversion Date”
shall any date, after the effectiveness of a registration for the Corporation’s common shares underlying the Holder’s shares
of Series A Preferred Stock, on which a Holder effects a conversion in accordance with Section 5(b)(i).

 

“Conversion Price”
shall mean $0.01 for each share of Series A Convertible Preferred Stock.

 

“Conversion Rate”
shall mean ten (10) shares of Common Stock per share of Series A Convertible Preferred Stock.

 

“Convertible Preferred
Stock” shall have the meaning assigned to such term in Section 1.

 

“Fundamental Transaction”
shall mean any (i) acquisition of the capital stock or other ownership interest of any other Person or the merger or consolidation of
the Corporation with or into another Person, (ii) sale of all or substantially all of the Corporation’s assets or purchase of all
or substantially all of the assets of any other Person in one or a series of related transactions, (iii) tender offer or exchange offer
(whether by the Corporation or another Person) is completed pursuant to which holders of Common Stock are permitted to tender or exchange
their shares for other securities, cash or property, or (iv) reclassification of the Common Stock or any share exchange pursuant to which
the Common Stock is effectively converted into or exchanged for other securities, cash or property.

 

“Holder” or “holder”
shall mean a holder of record of the Convertible Preferred Stock.

 

“Issue Date”
shall mean date of issuance of the Convertible Preferred Stock.

 

“Liquidation Preference”
shall have the meaning assigned to such term in Section 4(a).

 

“Paying Agent”
shall have the meaning assigned to such term in Section 10.

 

“Person” shall
mean any individual, corporation, general partnership, limited partnership, limited liability partnership, joint venture, association,
joint-stock Corporation, trust, limited liability Corporation, unincorporated organization or government or any agency or political subdivision
thereof.

 

“Preferred Stock”
shall mean the preferred stock, par value $0.0001 per share, of the Corporation.

 

“Transfer Agent”
shall have the meaning assigned to such term in Section 10.

 

Section 3. Dividends.  

 

		(a)	Holders shall not be entitled to receive dividends on shares of Series A Convertible Preferred Stock.

 

Section 4. Liquidation
Preference.  

 

		(a)	Series A Convertible Preferred Stock will rank on a parity, in all respects, with all the Common Stock.
In the event of the voluntary or involuntary liquidation, winding-up or dissolution of the Corporation, each holder of Convertible Preferred
Stock will be entitled to receive and to be paid out of the assets of the Corporation available for distribution to the stockholders of
the Corporation, on a pro-rata basis as is made to holders of the Common Stock, in respect of each share of Convertible Preferred Stock.

 

    	 

    	 

    

 

 

Section 5. Conversion.

 

		(a)	At the Option of the Holder.  For so long as any shares of Convertible Preferred Stock are outstanding,
holders of Convertible Preferred Stock may elect to convert, on any Conversion Date, all or any portion of their respective Eligible Conversion
Shares into fully paid and nonassessable shares of Common Stock, subject to the terms and provisions of this Section 5.  Each Eligible
Conversion Share shall be convertible into a number of fully paid and nonassessable shares of Common Stock (calculated as to each conversion
to the nearest 1/1000th of a share) equal to the Conversion Rate in effect at the close of business on the applicable Conversion Date.

 

(b)       Mechanics
of Conversion.

 

		(i)	The Holder shall effect conversions by delivering to the Corporation the following on the Conversion Date:
(A) the certificate(s) representing the shares to be converted, (B) written notice to the Corporation that the Holder elects to convert
such Holder’s Eligible Conversion Shares represented by such certificate(s) pursuant to Section 5 and specifying the name or names
(with address) in which a certificate or certificates for shares of Common Stock are to be issued; (C) the payment amount due from the
Holder to the Company upon conversion of the Preferred Stock on the basis of the Conversion Price of $0.01 multiplied by the number of
shares of Series A Convertible Preferred Stock elected to be converted; and (D) (if so required by the Corporation or the Transfer Agent)
by a written instrument or instruments of transfer in form reasonably satisfactory to the Corporation duly executed by the holder or its
duly authorized legal representative and transfer tax stamps or funds therefor, if required.

 

		(ii)	If fewer than all the shares of Convertible Preferred Stock evidenced by any such surrendered certificate
or certificates, if any, are converted, the Corporation shall, as soon as practicable, issue and deliver to the holder of the Convertible
Preferred Stock a new certificate evidencing the shares of Convertible Preferred Stock that are not subject to such conversion. On and
after the close of business on the Conversion Date, the holder converting such shares shall be deemed to be the holder of record of the
Common Stock issuable upon such conversion, such shares of Convertible Preferred Stock shall cease to be outstanding and all rights whatsoever
with respect to such shares (except the right to receive the Common Stock and any cash in lieu of fractional shares of Common Stock due
in connection with such conversion) shall terminate.

 

		(iii)	The Corporation shall not be required to pay any tax which may be payable in respect of any transfer involved
in the issue and delivery of Common Stock or other securities or property upon conversion, whether optional or mandatory, of the Convertible
Preferred Stock in a name other than that of the Holder of the shares of Convertible Preferred Stock being converted, nor shall the Corporation
be required to issue or deliver any such shares or other securities or property unless and until the person or persons requesting the
issuance thereof shall have paid to the Corporation the amount of any such tax or shall have established to the satisfaction of the Corporation
that such tax has been paid.

 

		(iv)	Each conversion exercised in accordance with this Section 5 shall be deemed to have been effected immediately
prior to the close of business on the Conversion Date.

 

Section 6. Fractional
Shares.

 

		(a)	If, upon conversion of the Convertible Preferred Stock, a holder would be entitled to receive a fractional
interest in a share of the Common Stock or Convertible Preferred Stock, as the case may be, the number of shares issuable to such Holder
shall be rounded upwards to the nearest whole number.

 

    	 

    	 

    

 

Section 7. Voting Rights.

 

		(a)	Except as otherwise required by applicable law or as set forth herein, the shares of Convertible Preferred
Stock shall be voted equally with the shares of Common Stock as a single class with respect to all matters submitted to the holders of
Common Stock at any annual or special meeting of stockholders of the Corporation.  Each holder of one or more shares of Convertible
Preferred Stock shall be entitled to notice of any stockholders’ meeting in accordance with the Bylaws of the Corporation and to
such number of votes for the shares of Convertible Preferred Stock held by such holder immediately after the close of business on the
record date fixed for such meeting.  Each share of Convertible Preferred Stock shall be entitled to ten (10) votes.  Fractional
votes shall not, however, be permitted and any fractional voting rights respect to any holder of Convertible Preferred Stock shall be
rounded to the nearest whole number (with one-half rounded upward to one).

 

Section 8. Status of Convertible
Preferred Stock Upon Retirement. 

 

		(a)	Shares of Convertible Preferred Stock that are converted pursuant to Section 5 shall be retired and thereupon
shall return to the status of authorized and unissued shares of Preferred Stock of the Corporation without designation as to series. Upon
the conversion pursuant to Section 5 of all outstanding shares of Convertible Preferred Stock, all provisions of Convertible Preferred
Stock shall cease to be of further effect. Upon the occurrence of such event, the Board of Directors shall have the power, without stockholder
action, to cause the certificate of designation filed with the Secretary of State of the State of Nevada designating the Convertible Preferred
Stock to be eliminated from the Articles of Incorporation.

 

Section 9. Certificates.

 

		(a)	Ownership of shares of Convertible Preferred Stock shall be evidenced by certificates issued by the Corporation
to each Holder.

 

Section 10. Transfer,
Payment and Conversion.

 

		(a)	The Convertible Preferred Stock may be presented to the Corporation at its principal place of business
for transfer, payment or conversion. The Corporation also shall maintain or cause to be maintained a register in which, subject to such
reasonable regulations as it may prescribe, the Corporation shall provide for the registration of shares of Convertible Preferred Stock
and of transfers of shares of Convertible Preferred Stock for the purpose of registering shares of Convertible Preferred Stock and of
transfers of shares of Convertible Preferred Stock as herein provided. The initial registrar for the Convertible Preferred Stock shall
be the Corporation.

 

		(b)	The Corporation may appoint one or more additional transfer agents, paying agents and/or conversion agents
in such other locations as it shall determine. The term “Transfer Agent” includes any additional transfer agent, the term
“Paying Agent” includes any additional paying agent, and the term “Conversion Agent” includes any additional conversion
agent. The Corporation may change any Transfer Agent, Paying Agent or Conversion Agent without prior notice to any holder.

 

Section 11. Notices to
Holders.

 

		(a)	Adjustment to Conversion Rate. Whenever the Conversion Rate is adjusted, the Corporation shall promptly
mail to each Holder a notice setting forth the Conversion Rate after such adjustment and setting forth a brief statement of the facts
requiring such adjustment.

 

    	 

    	 

    

 

		(b)	Notices of Other Events. If (A) the Corporation shall declare a dividend (or any other distribution) on
the Common Stock; (B) the Corporation shall declare a redemption of the Common Stock; (C) the Corporation shall authorize the granting
to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any
rights; (D) the approval of any stockholders of the Corporation shall be required in connection with any reclassification of the Common
Stock or any Fundamental Transaction, (E) the Corporation shall authorize the voluntary or involuntary dissolution, liquidation or winding
up of the affairs of the Corporation; then in each case, the Corporation shall cause to be filed at each office or agency maintained for
the purpose of conversion of the Convertible Preferred Stock, and shall cause to be mailed to the Holders at their last addresses as they
shall appear upon the stock books of the Corporation, at least  ten (10) calendar days prior to the applicable record or effective
date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution,
redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be
entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification
is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be
entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification or
Fundamental Transaction; provided, that the failure to mail such notice or any defect therein or in the mailing thereof shall not
affect the validity of the corporate action required to be specified in such notice.

 

		(c)	All notice periods referred to herein shall commence on the date of the mailing of the applicable notice.
Notice to any holder of the Convertible Preferred Stock shall be given to the registered address set forth in the Corporation’s
records for such holder.

 

		(d)	With respect to any notice to a Holder of shares of Convertible Preferred Stock required to be provided
hereunder, neither failure to mail such notice, nor any defect therein or in the mailing thereof, to any particular Holder shall affect
the sufficiency of the notice or the validity of the proceedings referred to in such notice with respect to the other Holders or affect
the legality or validity of any distribution, rights, warrant, reclassification, consolidation, merger, conveyance, transfer, dissolution,
liquidation or winding-up, or the vote upon any such action. Any notice which was mailed in the manner herein provided shall be conclusively
presumed to have been duly given whether or not the holder receives the notice.

 

Section 12. Miscellaneous.

 

		(a)	Any payments required to be made hereunder on any day that is not a Business Day shall be made on the
next succeeding Business Day without interest or additional payment for such delay. Unless otherwise stated herein, any actions required
to be made hereunder on any day that is not a Business Day shall be taken on the next succeeding Business Day.

 

		(b)	Holders of Convertible Preferred Stock shall not be entitled to any preemptive rights to acquire additional
capital stock of the Corporation.

 

		(c)	The headings of the various subdivisions hereof are for convenience of reference only and shall not affect
the interpretation of any of the provisions hereof.

 

		(d)	Upon receipt by the Corporation of evidence satisfactory to the Corporation of the loss, theft, destruction
or mutilation of any preferred stock certificates representing the shares of Convertible Preferred Stock, and, in the case of loss, theft
or destruction, of any indemnification undertaking by the holder to the Corporation and, in the case of mutilation, upon surrender and
cancellation of the preferred stock certificate(s), the Corporation shall execute and deliver new preferred stock certificate(s) of like
tenor and date; provided, however, that the Corporation shall not be obligated to re-issue preferred stock certificates if the holder
contemporaneously requests the Corporation to convert such shares of Convertible Preferred Stock into Common Stock.

 

    	 

    	 

    

 

FURTHER RESOLVED, that
the statements contained in the foregoing resolutions creating and designating the said Convertible Preferred Stock and fixing the number,
powers, preferences and relative, optional, participating, and other special rights and the qualifications, limitations, restrictions,
and other distinguishing characteristics thereof shall, upon the effective date of said series, be deemed to be included in and be a part
of the Articles of Incorporation pursuant to the provisions of Section 1955 of Chapter 78 of the Nevada Revised Statutes; and it is further

 

FURTHER RESOLVED, that
the officers of the Corporation be, and each of them hereby is, alone or together, authorized to execute and deliver for and on behalf
of the Corporation, all such instruments, reports, notices, consents, waivers, certificates and other documents, to make all arrangements,
to pay all such fees and expenses, and to do and perform all such acts and things and to execute and deliver or file, in the name and
on behalf of the Corporation, all such instruments, reports, notices, consents, waivers, certificates and other documents, as they may
deem necessary or appropriate to effectuate the foregoing resolutions or otherwise in connection with the transactions described in or
contemplated herein (such determination to be conclusively, but not exclusively, evidenced by the taking of such actions or by the execution
of such instruments, reports and documents); and it is further  

 

FURTHER RESOLVED, that
any actions by any director, officer, employee or agent of the Corporation on or prior to the date hereof in furtherance of any of the
foregoing matters be, and each such action hereby is, approved, ratified and confirmed in all respects as the action and deed of the Corporation;
and it is further

 

FURTHER RESOLVED, that
this Action by Unanimous Written Consent may be executed in any number of counterparts and when each director has executed at least one
counterpart, the foregoing resolutions shall be deemed adopted and in full force and effect as of the date hereof.

 

FURTHER RESOLVED, that
this Action by Unanimous Written Consent shall be filed with the minutes of meetings of the Board of Directors of the Corporation and
shall be treated for all purposes as action taken at a meeting.

 

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left blank]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 

    	 

    

 

RESOLVED FURTHER, that any and all acts taken
by any officer or representative of the Corporation, in furtherance of the transactions contemplated by the foregoing resolutions taken
prior to or after the adoption for these resolutions, are hereby ratified and approved.

 

Dated as of this 18th day of December
2020.

 

 

	 	/s/ Thomas Lapinski
	 	 Thomas Lapinski 
	 	 
	 	 
	 	 
	 	/s/ Jonathan Herzog 
	 	   Jonathan HerzogEXHIBIT 10.1

 

 

JOINT VENTURE AGREEMENT

BETWEEN BLACKROCK ENERGY, LLC and OKMIN RESOURCES,
INC.

– BLACKROCK LEASES

 

Blackrock Energy, LLC (Blackrock) has entered into
an agreement to purchase the following oil/gas leases in Okmulgee County and Muskogee County, Oklahoma:

 

Chain Lease (100%)

Burke Lease (100%)

Preston Lease (100%)

Hollingsworth Lease (50%)

Goldner Lease (100%)

Peevler Lease (100%)

Anthony Lease (100%)

Calley Lease (100%)

Abbey Lease (100%)

Duffy Lease (100%)

 

Okmin Resources, Inc. (Okmin) desires to joint-venture
with Blackrock in the purchase and development of these Blackrock leases (the “Project”). An outline of the deal structure
is as follows:

 

		1.	Okmin will make a payment of $50,000 to Blackrock upon the signing of this
Joint Venture Agreement (“JV”) in exchange for 50% working interest in the leases (except for the Hollingsworth lease). Okmin
and Blackrock will hold 25% working interest each in Hollingsworth. Okmin is entitled to its pro rata share of the profit from oil/gas
sales.

		2.	Okmin commits to provide up to $50,000 of additional funding (the “Additional
Funding”) as the rehabilitation and development of the Project reasonably requires to be utilized for legal fees, electric meter
fees, repairs, insurance policies, rig time and other work to enhance production from the leases in Phase I. When workflow and cash needs
allow, Okmin can pay part of the Additional Funding out of its pro rata share of net profits from oil/gas sales. 

		3.	Blackrock will operate the leases as operator of record and will diligently
manage every aspect of the leases to increase production, revenues, profits, and value. Blackrock will not charge an operator’s
fee for these services but will be paid its pro rata share of net profits.

		4.	Blackrock will maintain a bank account for these leases, manage the finances
and will provide quarterly accounting summaries to Okmin, or possibly more frequently as reasonably requested to assist Okmin in its own
reporting requirements. 

		5.	Blackrock will have its accounting firm generate the annual tax returns
for the joint venture. Cost of the tax returns will be paid out of cash flows. 

		6.	Blackrock will utilize its best efforts to negotiate and obtain best pricing
on all parts, labor, repairs, enhancement work and other associated costs. Blackrock will bill these expenses to Okmin within the framework
of the Additional Funding “at cost” with no markup. 

		7.	Blackrock will have its oil/gas law firm draft a suitable Joint Operating
Agreement and assignments of working interest on behalf of both Blackrock and Okmin, and the cost of this legal work will be paid by Okmin
within the framework of the Additional Funding. Okmin may also have its law firm review such agreements.

		8.	Both Blackrock and Okmin understand that the Additional Funding by Okmin
is for Phase I work. If the venture is successful and subject to the mutual agreement of both parties, there could be a desire by both
parties to continue with a Phase II round of the Project to be outlined in a future agreement. Phase II work could include additional
enhancements such as water flooding, recompletions to tap “behind pipe” reserves, drilling new wells or other options.

		9.	Both Blackrock and Okmin understand that oil/gas ventures can be risky and
there is no guarantee of results, cash flows, or profits.

 

    	 

    	 

    

 

 

		10.	Okmin and Blackrock agree to form a strategic alliance to seek out additional
joint venture opportunities together beyond the Project leases.

 

 

 

 

/s/Steve Kirkpatrick 2/18/21

Steve Kirkpatrick for Blackrock Energy, LLC

 

 

 

/s/Jonathan Herzog 2/18/21

Jonathan Herzog for Okmin Resources, Inc.

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