Sky Quarry, Inc. and LendSpark Corporation have entered into a settlement agreement and stipulation dated December 1, 2025, to resolve outstanding liabilities amounting to $491,384.00.
The agreement includes provisions for the issuance of Settlement Shares to settle the liabilities.
The parties have agreed to expedite the submission of the agreement terms to the Court for a fairness hearing.
Claim Amount
$491,384.00 outstanding liabilities to be settled.
Settlement Shares Issuance
Sky Quarry, Inc. will issue Common Stock to LendSpark Corporation to satisfy the Claim amount.
Fairness Hearing
The agreement will be subject to a fairness hearing by the Court in accordance with the Securities Act of 1933.
- The settlement agreement provides a structured approach to settle outstanding debts, ensuring a defined process for resolving financial obligations.
- The issuance of Settlement Shares allows Sky Quarry, Inc. to settle its liabilities with LendSpark Corporation through stock equity transactions, potentially impacting shareholder ownership.
With the agreement in place, Sky Quarry, Inc. takes a step towards resolving its financial obligations and maintaining compliance with the terms set forth in the settlement agreement.