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) May 22, 2013
WESTERN STANDARD ENERGY CORP.
(Exact name of registrant as specified in its charter)
Nevada 000-51736 20-5854735
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
302-1912 Enterprise Way, Kelowna, BC V1Y 9S9
(Address of principal executive offices and Zip Code)
(778) 478.7780
(Registrant's telephone number, including area code)
980 Skeena Drive, Kelowna, BC V1V 2K7
(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:
[ ] 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))
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On October 15, 2012, Western Standard Energy Corp. (the "Company") entered into
a securities purchase agreement with BRL Consulting Inc. and Gladys Jenks
(collectively, the "Purchasers") pursuant to which the Company had agreed to
issue 2,500,000 common shares for a total proceeds of USD$3,125.00 and the
Company, on October 29, 2012, issued to two Purchasers an amended convertible
debenture (the "Debenture") in the aggregate principal amount of US $250,000.
The Debenture was convertible, upon a Default into shares of the Company's
common stock equal in number to 50% of the total issued and outstanding Common
Stock of the Company at the time of conversion. The Company also agreed to
register the shares that may be convertible under the Debenture. The Debenture
matured on April 1, 2013 but the Purchasers elected not to convert the
Debenture.
On May 22, 2013 Western Standard Energy Corp. (the "Company") entered into an
amended securities purchase agreement with BRL Consulting Inc. and Gladys Jenks
(collectively, the "Purchasers") pursuant to which the Company and the
Purchasers agreed to cancel the Debenture dated October 12, 2012 and the Company
agreed to issue a new convertible debenture (the "New Convertible Debenture") in
the aggregate principal amount of CDN $140,000. The New Convertible Debenture is
convertible, upon a Default into shares of the Company's common stock equal in
number to 50% of the total issued and outstanding Common Stock of the Company at
the time of conversion. The Company also agreed to register the shares that may
be convertible under the Debenture. The Debenture matures on May 15, 2014. The
Debenture shall bear no interest.
EXHIBIT 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
10.1 Securities Purchase Agreement dated May 22, 2013 with BRL Consulting
Inc. and Gladys Jenks (attached as an exhibit to our current report on
Form 8-K filed on June 3, 2013 and incorporated by reference)
10.2 Convertible Debenture dated May 22, 2013, in the amount of CDN$140,000
(attached as an exhibit to our current report on Form 8-K filed on June
3, 2013 and incorporated by reference).
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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.
WESTERN STANDARD ENERGY CORP.
By: /s/ Dallas Gray
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Dallas Gray
President, Treasurer and Director
June 3, 2013
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