Explanatory Note: This Amendment No. 1 on Form 8-K/A is being filed by Advanced Environmental Petroleum Producers, Inc. (the “Company”) to correct the name listed on Form 8-K filed with the Securities and Exchange Commission on February 12, 2016 (the “Original Form 8-K”).
For the convenience of the reader, this Amendment No. 1 on Form 8-K/A sets forth the text of the Original Form 8-K in its entirety. However, this Form 8-K/A only corrects the name on the Original Form 8-K, and no other information in the Original Form 8-K is amended hereby.
Section 1 - Registrant’s Business and Operations
Item 1.01 . Entry into a Material Definitive Agreement
On October 24, 2015, the Company announced that it had entered into an agreement to acquire 100% of the issued and outstanding shares of 1923285 Alberta Ltd. ("Alberta") for 65,600,000 shares of the Company’s common stock. Both the Company's 65,600,000 and 100% of the issued and outstanding Alberta Shares will be held in escrow until Alberta provides the Company with firstly, required audited financial statements, secondly, a certificate that the leases held by Alberta from Peru Petro (an entity owned by the Government of Peru) are unencumbered and are in good standing. It is anticipated that the audited financial statements and the report confirming the reserves and the potential reserves will be completed before December 31, 2015.
On February 11, 2016, through agreement of all parties, the Company has extended the December 31, 2015 date, to March 1, 2016.
SECTION 5. CORPORATE GOVERNANCE AND MANAGEMENT
ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS
On February 11, 2016, the Board of Directors of Advanced Environmental Petroleum Products, Inc., a Florida corporation (the "Company"), accepted the consent from and approved the appointment of Loong Yip Juy as the President of the Company.
There is no family relationship between Mr. Juy and any of the Company’s other officers and directors. There are no understandings or arrangements between Mr. Juy and any other person pursuant to which Mr. Juy was appointed as President.
Mr. Juy has been issued 29,930,000 restricted common shares that have not been delivered and are being held in escrow pending the closure of the agreement as filed with the Securities Exchange Commission dated October 29, 2015. Upon closure of the agreement, Mr. Juy will be the owner of 29,930,000 shares of restricted common stock which will represent 41% of the issued and outstanding shares of the Company’s common stock. There is no employment agreement with Mr. Juy.
Loong Yip Juy
Loong Yip Juy, Age 66, was born in Guanzhou China and is a resident of Peru. Mr. Juy is a graduate of the National Engineering University in Peru. Mr. Juy has been in business management all of his adult working career and has specifically been involved in the mining industry with Brehm International S.A. since 1999 currently serving as President and member of the Board of Directors for over the last 5 years.
Mr. Juy has the mining and management experience that the company Board of Directors feel that he will be an added asset to the company as it moves forward.
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.
| |
|
|
| Advanced Environmental Petroleum Producers, Inc. |
| |
| |
|
|
Dated: April 29, 2016 | /s/ Andrew Mynheer |
| Andrew Mynheer |
| Chief Executive Officer |
2
