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): July 11, 2016
VGRAB COMMUNICATIONS INC.
(Exact name of registrant as specified in its charter)
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BRITISH COLUMBIA, CANADA | 000-54800 | 99-0364150 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
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#810 - 789 West Pender Street Vancouver, BC | | V6C 1H2 |
(Address of principal executive offices) | | (Zip Code) |
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Registrant's telephone number, including area code | (604) 722-0041 |
N/A
(Former name or former address, if changed since last report)
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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On July 11, 2016, VGrab Communications Inc. (the “Company”) entered into debt settlement agreements (the “Agreements”) with Hampshire Infotech Sdn (“Hampshire”), a company that is a member of the Hampshire Group, the Company’s significant shareholder, and Mr. Lim Chin Yang whereby the Company agreed to convert USD$359,394.22 owed to Hampshire and USD$49,467.20 owed to Mr. Lim into 3,407,177 restricted common shares (“the Shares”) of the Company at $0.12 per share.
The shares were issued pursuant to the provisions of Regulation S of the United States Securities Act of 1933, as amended (the “Act”). The subscribers represented that they were not “U.S. Persons” as that term is defined in Rule 902(k) of Regulation S promulgated under the Act, as amended, and that they were “accredited investors” as that term is defined under National Instrument 45-106 -Prospectus and Registration Exemptions.
The above does not constitute an offer to sell or a solicitation of an offer to buy any of the Company’s securities in the United States. The securities have not been registered under the Act and may not be offered or sold within the United States or to U.S. persons unless an exemption from such registration is available.
ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURITIES.
As more fully described under Item 1.01 of this Form 8-K, on July 11, 2016, pursuant to the debt settlement agreements with Hampshire and Mr. Lim, the Company issued to Hampshire and to Mr. Lim 2,994,951 and 412,226 common shares of the Company, respectively. The shares were issued pursuant to the provisions of Regulation S of the United States Securities Act of 1933, as amended (the “Act”). Hampshire and Mr. Lim represented that they were not residents of the United States and were otherwise not “U.S. Persons” as that term is defined in Rule 902(k) of Regulation S of the Act.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
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Exhibit Number | Description of Exhibit |
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10.1 | Debt Settlement Agreement between Hampshire Infotech SDN. and VGrab Communications Inc. dated July 11, 2016. |
10.2 | Debt Settlement Agreement between Lim Chin Yang and VGrab Communications Inc. dated July 11, 2016. |
99.1 | News Release dated July 14, 2016. |
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SIGNATURE
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.
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| VGRAB COMMUNICATIONS INC. |
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Date: July 14, 2016 | |
| By: /s/ Jacek P. Skurtys |
| Jacek (Jack) P. Skurtys |
| Chief Executive Officer, Chief Financial Officer |
| and President |
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