Attached files
| file | filename |
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| EX-10.89 - SETTLEMENT AGREEMENT - Surge Global Energy, Inc. | surge_8k-ex1089.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 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)
|
February
8, 2010 (February 2,
2010)
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|
| SURGE GLOBAL ENERGY, INC. |
|
(Exact
name of registrant as specified in its
charter)
|
|
Delaware
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000-24269
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34-1454529
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||
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(State
or other jurisdiction
of
incorporation
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
|
| 990 Highland Drive, Suite 206 Solana Beach, CA | 92075 | |
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(Address
of principal executive offices)
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(Zip
Code)
|
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Registrant's
telephone number, including area code
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(858)
720-9900
|
|||||||||||||
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(Former
name or former address, if changed since last
report)
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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 (see General Instruction A.2. below):
|
o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
|
o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
o
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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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|
o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
1.01 Material
Agreements
Pursuant to a Settlement Agreement
dated February 2, 2010, by and among Surge Global Energy, Inc. ("Surge"),
1350826 Alberta Ltd. (formerly known as Surge Global Energy (Canada) Ltd. and
Signet Energy, Inc. ("Alberta") and Andora Energy Corporation ("Andora"), Surge
agreed to pay Andora's indemnified expenses in connection with two prior legal
actions arising from litigation with Dynamo Energy Corporation (both of which
had previously been dismissed in the United States and Canada) in an
amount equal to Canadian $600,000 (approximately
US$561,000). Pursuant to this Settlement Agreement, in lieu of a cash
payment, the Escrow Agent has been instructed to release 375,000 of Andora
escrow shares to Andora, and release and deliver to Surge the remainder of
shares held in escrow.
After this agreement, Surge will own
3,231,499 shares of Andora (approximately 5% on a fully diluted basis). The
Settlement Amount had previously been accrued in its entirety on Surge’s prior
period financial statements.
Item
9.01 Financial
Statements and Exhibits.
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(d)
|
Exhibits
|
|
10.89
–
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Settlement
Agreement dated February 2, 2010, by and among Surge Global Energy, Inc.
("Surge"), 1350826 Alberta LTD. (formerly known as Surge Global Energy
(Canada) Ltd. and Signet Energy, Inc. ("Alberta") and Andora Energy
Corporation ("Andora").
*
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____________
*
Filed herewith.
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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SURGE
GLOBAL ENERGY, INC.,
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|
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a
Delaware corporation
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|
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Date: February
8, 2010
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By: /s/ E.
Jamie
Schloss
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|
E.
Jamie Schloss, Chief Executive
Officer
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