Item 1.03 Bankruptcy or Receivership.
As previously disclosed via Form 8-K filed, on April 9, 2020, with the
Securities and Exchange Commission (the "8-K"), on April 6, 2020 Amazing Energy
Oil & Gas, Co. (the "Company") filed Chapter 11 Bankruptcy petitions, in the
Southern District of Mississippi, for three (3) of its wholly owned
subsidiaries. Those three subsidiaries placed into Bankruptcy are: Amazing
Energy, LLC ("AE"), Amazing Energy Holdings, LLC ("AEH") and Amazing Energy MS,
LLC ("AEMS"). AE, AEH and AEMS are the entities that own and operate the
Company's holdings in Texas, New Mexico and Mississippi. The Company itself has
not filed for Bankruptcy protection in any jurisdiction.
The Company is filing this amendment to the 8-K for the purposes of disclosing
that on January 10, 2022 the United States Bankruptcy Court for the Eastern
District of Texas, Sherman Division (the "Court"), entered the Order
Establishing Bidding Procedures in Connection with Sale of Certain Debtor Assets
(the "Order"). The Order establishes the bidding procedures for the assets of
Company subsidiaries AE, AEMS and AEH, in conjunction with the liquidation of
those subsidiaries, under the jointly administered Case No. 20-41558 (the
"Case").
Any interested person, who is qualified by the Court may bid for some, or all,
of the assets, which are subject to the Order, in accordance with the procedures
established by the Court. Interested parties should refer to the Court records
of the Case for more information regarding the bankruptcies, the assets involved
and the procedure for bidding.
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