UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 1.01. Entry Into A Material Agreement.
On December 5, 2024, Chial Mountain Ltd. (“Chial Mountain”), an affiliate of Michael Singh, entered into an Agreement (the “Agreement”), by and between Chial Mountain and Ewigi Liaebi Ltd. (the “Seller”). Pursuant to the terms of the Agreement, the Seller agreed to sell to Chial Mountain certain real property comprising approximately 157 acres of undeveloped property in the Cayo District of Belize (the “Property”), for an aggregate purchase price of approximately $408,000.00 (the “Purchase Price”). The Agreement contains limited representations and warranties, as are more fully set forth therein. The Property is adjacent to the Company’s recently acquired Chial Reserve property being developed in the Cayo District, Belize.
On January 30, 2025, Chial Mountain, pursuant to an Assignment of Land Purchase Contract (the Assignment”), assigned the Agreement to Awaysis Belize Ltd. (“Awaysis Belize”), a wholly owned subsidiary of Awaysis Capital, Inc. (the “Company”), granting Awaysis Belize the right to purchase the Property for the Purchase Price on or before May 28, 2025 (the “Completion Date”).
Pursuant to the terms of the Agreement, approximately $81,500.00 of the Purchase Price was deposited into escrow (the “Initial Deposit”), with the remainder of the Purchase Price due on or before the Completion Date. The parties have agreed that half of the Initial Deposit, totaling approximately $40,750.00, will become non-refundable on February 20, 2025 and the remainder of the Initial Deposit will become non-refundable on the Completion Date, irrespective of whether the transaction is completed.
The foregoing descriptions of the Agreement and the Assignment are qualified in their entirety by reference to the terms of such agreements, copies of which are filed hereto as Exhibits 10.1 and 10.2, respectively, and are incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
Exhibit | Description | |
10.1 | Agreement, dated December 5, 2024, between Ewigi Liabi Ltd. and Chial Mountain Ltd. | |
10.2 | Assignment of Land Purchase Contract, dated January 30, 2025 | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: February 5, 2025 | ||
AWAYSIS CAPITAL, INC. | ||
By: | /s/ Andrew Trumbach | |
Name: | Andrew Trumbach | |
Title: | Co-CEO and CFO |