PREFERRED STOCK AND WARRANT CANCELLATION AGREEMENTPreferred Stock and Warrant • July 20th, 2017 • Dala Petroleum Corp. • Crude petroleum & natural gas • Minnesota
Debt Cancellation Agreement/ Pay-Off LetterDebt Cancellation Agreement • July 20th, 2017 • Dala Petroleum Corp. • Crude petroleum & natural gas • Minnesota
Reference is made to that certain Common Stock Purchase Agreement made as of June __, 2017 (the “SPA”) by and among Dala Petroleum Corp., a Minnesota corporation, whose principal executive offices are located at 328 Barry Ave. S #210, Wayzata, MN 55391 (the “Company”), M2 Equity Partners LLC, a Minnesota limited liability company, the “Purchaser”). Pursuant to the SPA and as a condition to the closing of the SPA (the “Closing”), the Company shall have no indebtedness and/or liabilities immediately after the Closing.
COMMON STOCK CANCELLATION AGREEMENTCommon Stock • July 20th, 2017 • Dala Petroleum Corp. • Crude petroleum & natural gas • Minnesota
COMMON STOCK PURCHASE AGREEMENT by and among M2 EQUITY PARTNERS, LLC (Purchaser) DALA PETROLEUM CORP. (Company) As of July 19, 2017Common Stock Purchase Agreement • July 20th, 2017 • Dala Petroleum Corp. • Crude petroleum & natural gas • Delaware
THIS COMMON STOCK PURCHASE AGREEMENT, (together with all exhibits, schedules, supplements, amendments and modifications, collectively, this “Agreement”) is made as of July 19, 2017, by and between DALA PETROLEUM CORP., a Delaware corporation whose principal executive offices are located at 328 Barry Ave. S. #210, Wayzata, MN 55391 (the “Company”); and M2 EQUITY PARTNERS LLC, a Minnesota limited liability company (the “Purchaser”). The Company and the Purchaser shall sometimes be referred to herein each as a “Party” and collectively as the “Parties.” All capitalized terms not defined elsewhere herein, shall have the meanings set forth in Section 1.1.
