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) – December 14, 2010 (December 10,
2010)
NORTH AMERICAN ENERGY
RESOURCES, INC.
(Exact
name of registrant as specified in its charter)
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Nevada
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0-52522
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98-0550352
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(State
or other jurisdiction
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(Commission
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(IRS
Employer
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of
incorporation)
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file
number)
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Identification
No.)
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6914 So Yorktown Ave, Suite
130, Tulsa, OK 74136
(Address
of principal executive offices) (Zip Code)
(918)
712-7774
Registrant’s
telephone number
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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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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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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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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SECTION
5 - CORPORATE GOVERNANCE AND
MANAGEMENT
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ITEM 5.02:
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DEPARTURE OF DIRECTORS OR CERTAIN
OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS;
COMPENSATORY ARRANGEMENTS OF CERTAIN
OFFICERS
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On
December 10, 2010, the Company, through a consent by majority of the Board of
Directors appointed Michael D. Pruitt to replace Ross E. Silvey as Interim Chief
Executive Officer of the Company. Dr. Silvey will remain on the Board
of Directors. The Company is planning to expand its operations into
other areas and felt it needed the special expertise afforded by Mr. Pruitt's
background.
Michael Pruitt, 50, is a long-time entrepreneur with a proven
track record, possesses the expertise to evaluate potential investments, form
key relationships and recognize a strong management team. Mr. Pruitt
founded Avenel Financial Group, a boutique financial services firm concentrating
on emerging technology company investments. The business succeeded
immediately, and in order to grow Avenel Financial Group to its full potential
and better represent the company's ongoing business model, he formed Avenel
Ventures, an innovative technology investment and business development
company. In the late 1980s, Mr. Pruitt owned Southern Cartridge, Inc.,
which he eventually sold to MicroMagnetic, Inc., where he continued working as
Executive Vice President and a Board member until Southern Cartridge was sold to Carolina Ribbon in
1992. From 1992 to 1996, Mr. Pruitt worked in a trucking firm where he was
instrumental in increasing revenues from $6 million to $30 million. The
firm was sold in 1996 to Priority Freight Systems. Between 1997 and 2000,
Mr. Pruitt assisted several public and private companies in raising capital,
recruiting management and preparing companies to go public or be
sold. He was the CEO, President and Chairman of the Board of
Onetravel Holdings,
Inc. (formerly RCG
Companies), a publicly traded holding company formerly listed on the AMEX. Mr. Pruitt received a
Bachelor of Arts degree from Coastal Carolina University in Conway, South
Carolina, where he sits on the Board of Visitors of the Wall School of
Business. Mr. Pruitt is currently Chief Executive Officer and
a director of Chanticleer Holdings, Inc. and Efftec International, Inc., a
director of Green St. Energy, Inc and a director of North American Energy
Resources, Inc. Mr. Pruitt has no family relationship with any other
member of the Board of Directors or any other officer of the
Company.
As of
December 10, 2010, there were 21,554,945 shares of Company common stock issued
and outstanding. On that date, to the knowledge of the Company, Mr.
Pruitt was the only shareholder who owned beneficially more than 5% of the
Company's common stock. The table below contains information, as of
that date, regarding the beneficial ownership of Mr. Pruitt.
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Number of
shares
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|||
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Name and address of beneficial
owner
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beneficially
owned
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Percent of
class
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Michael D. Pruitt
(a)
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2,842,641
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13.19%
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11220 Elm Lane, Suite
203
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Charlotte,
NC 28277
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(a) The shares beneficially owned by Mr.
Pruitt include 1,992,461 shares owned by Avenel Financial Group, Inc. (includes
the newly issued 107,201 shares discussed above), which is wholly owned by Mr.
Pruitt; 700,000 shares owned by Chanticleer Holdings, Inc. of which Mr. Pruitt
is Chief Executive Officer, a director and approximately 17% owner; and 150,000
shares owned by Avenel Ventures, LLC, which is wholly owned by Chanticleer
Holdings, Inc.
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.
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NORTH
AMERICAN ENERGY RESOURCES, INC.
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By:
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/s/ Michael D. Pruitt | |
| Michael D. Pruitt, Interim Chief Executive Officer | |||
Date: December
14, 2010
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