SEC Form 4 · accession 0001580695-18-000466
Petrolia Energy Corp · BBLS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joel Martin Oppenheim
Director
Period of report
Mar 31, 2018
Accepted (ET)
Oct 15, 2018 · 4:31 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001368637
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WarrantsF1,F2 | $0.10 | Mar 31, 2018 | A | 250,000 | A | Jan 1, 2019 | Jan 1, 2021 | Common | 250,000 | 3,161,667 | D |
| WarrantsF2,F3 | $0.14 | Mar 31, 2018 | A | 250,000 | A | Mar 31, 2018 | Mar 31, 2021 | Common | 250,000 | 3,411,667 | D |
| WarrantsF1,F2 | $0.10 | Jun 30, 2018 | A | 250,000 | A | Jan 1, 2019 | Jan 1, 2021 | Common | 250,000 | 3,661,667 | D |
| WarrantsF2,F3 | $0.14 | Jun 30, 2018 | A | 250,000 | A | Jun 30, 2018 | Jun 30, 2021 | Common | 250,000 | 3,911,667 | D |
Explanation of responses
- F1Mr. Oppenheim receives a 250,000-warrant issuance quarterly as part of his compensation 2018 compensation package for his service on the Board; exercisable for a 24 months period as of January 1, 2019.
- F2Each Warrant unit represents a contingent right to receive one share of Petrolia's common stock.
- F3The Transactions reported were part of a LOC agreement, where by the reporting person was to receive 250,000 warrants quarterly, exercisable for 3 years. The exercise price of the additional warrants will be based on the average common stock market price over the previous 90 days.