ASPA Gold announces business developments
The appointment of Mr. Ronald Y. Lowenthal as a Director following his appointment as the Company’s President and Chief Executive Officer and the entry of a Service and Employment Agreement with Mr. Lowenthal;
The facilitation of an initial US$1,000,000 Line of Credit Agreement to the Company from North American Gold & Minerals Fund prior to a planned US$5,000,000 Fund Raising by the Company;
The amendment of all of the Company’s outstanding Promissory Notes totaling US$141,816 removing the existing conversion price of US$0.02 per share of the Company’s Common Stock thereby eliminating all “toxic” existing Promissory and conversion notes;
The cancellation of all outstanding deferred compensation due to current and former Officers and Directors totaling US$277,371;
The approval by FINRA changing the Company’s name from Renaissance BioEnergy Inc. to ASPA Gold Corp. effective December 1, 2010 with the Company’s Symbol remaining as “RENS”;
The initial purchases of 84,000,000 shares of the Company’s Common Stock, representing 24.49% of the Company’s shares of Common Stock by North American Gold & Minerals Fund and the extensive stock sale restrictions agreed upon by North American Gold & Minerals Fund.
The Agreement by the Company to acquire the Mineral and Mining Leases of 7 patented Mining Claims included in the “Oatman Gold Project”.
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