Item 2.01 Completion of Acquisition or Disposition of Assets
On June 28, 2022, World Health Energy Holdings, Inc., (the "Company" or "WHEN")
disclosed in a Current Report on Form 8-K that the Company completed the
acquisition of a 26% equity interest in CrossMobile Sp. z o.o,, a company formed
under the laws of Poland ("CrossMobile"). As previously disclosed, on March 22,
2022 the Company, CrossMobile and the shareholders of CrossMobile entered into
an Investment Agreement (the "Agreement") pursuant to which the Company is to
purchase 26% of the outstanding common share capital of CrossMobile on a fully
diluted basis, in consideration of the issuance by the Company to CrossMobile of
10,000,000,000 restricted shares of Company common stock.
As required under Polish law, the application to increase the share capital of
CrossMobile so that CrossMobile is authorized to issue to WHEN the ordinary
shares representing the 26% equity stake in CrossMobile, which increase is a
pre-requisite under local law to the issuance to WHEN of the CrossMobile equity
interest, was filed with the Polish Companies Registrar on June 22, 2022.
Following the issuance of the Original 8-K Report, the Company was advised that
share capital increase and the issuance to WHEN of the ordinary shares
representing 26% equity in CrossMobile may take several weeks. In fact, the
share capital increase and the issuance to WHEN of the ordinary shares
representing 26% equity in CrossMobile was finally approved by the Polish
Companies Registrar on July 22, 2022 and published on August 1, 2022.
Accordingly, the closing conditions to the Investment Agreement were completed
on July 22, 2022.
Exhibit No. Description
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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