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ALTAIR INTERNATIONAL CORP.

(ATAO)
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ALTAIR INTERNATIONAL CORP. : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)

03/31/2021 | 08:32am EDT

Item 1.01 Entry into a Material Definitive Agreement.

On March 19, 2021, the registrant ("Altair International"), through its newly formed Nevada subsidiary, EV Lithium Solutions, Inc., entered into an Asset Purchase Agreement with CryptoSolar LTD, a company formed under the laws of the United Kingdom, that has energy storage technology for a variety of industries, including electric vehicles, to be used in place of traditional batteries that rely upon chemical reactions rather than an electric field for higher energy output and a longer life than traditional batteries. Under the terms of the Asset Purchase Agreement, CryptoSolar received 2,500,000 shares of Altair International's common stock at the closing of the transaction and will receive up to 900,000 additional shares of Altair International common stock in connection with the successful commercial development of the scaled-up EV battery prototype and 20% of the net profits from all products sold by Altair International incorporating or based upon the assets acquired from CryptoSolar. In addition, Altair International entered into a five year Consulting Agreement with the sole stockholder of CryptoSolar LTD, Andreas Tapakoudes, under which he will receive a consulting fee of $4,000 per month to develop a commercial lithium battery and a manufacturing facility for its commercial production.

The foregoing description of the Asset Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the Agreement which is filed as Exhibit 10.1 to this Current Report on Form 8-K.

Altair International will be issuing a press release concurrent with the filing of this Current Report on Form 8-K to announce the acquisition of CryptoSolar assets. A copy of the press release is filed as Exhibit 99.1.

On March 8, 2021, 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 10.2 and 10.3, respectively, to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.



Exhibits


10.1 Asset Purchase Agreement dated March 19, 2021 between Altair International Corp. and CryuptoSolar LTD.

10.2 Secured Promissory Note dated March 8, 2021 Issued by Altair International Corp. to EROP Enterprises LLC

10.3 Security Agreement dated March 8, 2021 between Altair International Corp. and EROP Enterprises LLC



  99.1 Press Release dated March 31, 2021



                                      -1-

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2021 - - -
Net income 2021 -12,0 M - -
Net Debt 2021 0,27 M - -
P/E ratio 2021 -6,80x
Yield 2021 -
Capitalization 35,6 M 35,6 M -
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 32,1%
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Leonard Lovallo President, CEO, CFO, Secretary & Treasurer
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