Events Occurring at Closing. At Closing, the following shall be accomplished:
Events Occurring at Closing. (1) WII shall have authorized 50,000,000 shares of $.001 par value common stock and 5,000,000 shares of $.001 par value preferred stock. The preferred stock shall be subject to issuance in such series and with such rights, preferences and designations as determined in the sole discretion of the board of directors. WII shall file a Certificate of Designation with the State of Nevada, designating 5,000 shares of its authorized preferred stock as Series A Senior Convertible Preferred Stock with rights and preferences as set forth in Exhibit "E".
Events Occurring at Closing. Immediately after the time that the Merger becomes effective under Delaware law, and on the day of such effectiveness, Bud shall (i) close a private offering under Regulation D, Rule 506, as promulgated by the Securities and Exchange Commission ("SEC") under the Securities Act of 1933, as amended, of 5,000,000 shares of its common stock (the "Bud Common Stock") at $1.00 per share pursuant to a Private Placement Memorandum and (ii) cause the release of the gross proceeds of this offering (the "Bud Financing"), less agreed upon costs of $50,000, to the control of new management of Bud in good funds. The Bud Financing shall have been completed in compliance with all applicable laws, including without limitation, all applicable state and federal securities laws, and the securities sold shall be delivered as part of the Closing to the investors in the Bud Financing.
Events Occurring at Closing
