Item 1.01 Entry into a Material Definitive Agreement.
On February 2, 2021, the registrant ("Altair International") issued to EROP
Enterprises LLC a secured promissory note (the "Note") in the principal amount
of $100,000 bearing annual interest at 6% and due in two years. The Note is
secured by the Walker Ridge claims and project that Altair International
purchased under a Mining Lease dated August 14, 2020 between Altair
International and Oliver Geoservices LLC involving Altair International's right
to mine certain property in Nevada for a period of five years that can be
extended for an additional twenty years if a certain extension payment are made
within the term of the lease as more fully described in the Form 8-K filed
August 18, 2020 by Altair International. The foregoing description of the Note
and Security Agreement does not purport to be complete and is qualified in its
entirety by reference to the Note and Security Agreement which are filed as
Exhibits 10.1 and 10.2, respectively, to this Current Report on Form 8-K.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On February 8, 2021, the Board of Directors of the registrant appointed Ramzi
Khoury, age 64, as a member of the Board of Directors of the Company to fill a
vacancy on its Board of Directors. Since 2011, Ramzi Khoury has served as CEO of
Forinstrats Limited, a company formed under the laws of the United Kingdom.
Prior to this Mr. Khoury has been employed with a number of multinational
companies, including Hampton International in London; Gillette International in
Boston, and MBM-Kellogg Brown & Root, Oil & Gas Division, in Abu Dhabi. Mr.
Khoury graduated from American University of Beirut with a BBA in Business
Administration. In connection with his being appointed as a member of the Board
of Directors of the registrant, Mr. Khoury is receiving 3,000,000 shares of the
registrant's common stock to vest 2,000,000 upon appointment to the Board of
Directors and 1,000,000 upon Altair International acquiring a company with a
value in excess of $500,000 and $2,500 each month for which he serves as a
member of the Board of Directors. Altair International believes that Mr.
Khoury's international business experience makes him qualified to be a member of
its Board of Directors.
Item 9.01 Financial Statements and Exhibits.
10.1 Secured Promissory Note dated February 2, 2021 Issued by Altair
International Corp. to EROP Enterprises LLC
10.2 Security Agreement dated February 2, 2021 between Altair International
Corp. and EROP Enterprises LLC
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