09/02/2025 | Press release | Distributed by Public on 09/02/2025 14:17
Item 1.02 - Termination of a Material Definitive Agreement
On April 14, 2025, DLT Resolution Inc. ("DLT" or the "Company") entered into a Termination and Rescission Agreement (the "Termination Agreement") with Global Motor Trade International LLC, WEC International LLC, SJ Auto Trade LLC, Global Motor Trade LLC (collectively, the "LLCs"), and Charles Bronfman and Abdul Matin Moosa (collectively, the "Sellers"), to terminate and rescind the Share Purchase Agreement by and between DLT and the Sellers dated March 11, 2024 ("SPA").
Pursuant to the Termination Agreement, the LLCs remain under the Sellers' ownership, and no interest is deemed to have transferred to DLT. The Sellers agreed to return all 6,013,000 shares of DLT Common Stock issued under the SPA. DLT and the Seller have mutually released each other from all claims, liabilities, or obligations related to the SPA, (Share Purchase Agreement).
The foregoing description of the Termination Agreement is a summary and is qualified in its entirety by reference to the full text of the agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.