Future Fuel Corporation (OTCPK:EVOG.F) signed a letter of intent to acquire Cibola Resources LLC from Neutron Energy, Inc. for CAD 0.88 million in June 2021. Future Fuel Corporation (OTCPK:EVOG.F) entered into a share purchase agreement to acquire Cibola Resources LLC from Neutron Energy, Inc. on August 27, 2021. In consideration for the Cibola shares, the Company has agreed to pay and issue to Encore: CAD 250,000 cash, and Common shares of the Company representing twenty percent (20%) of the outstanding share capital of the Company immediately prior to the completion of a Going Public Transaction to list on a qualifying exchange. In October 2021, the Company paid CAD 250,000) to Encore for consideration owed pursuant to the SPA and recognized this amount on the balance sheet. On May 24, 2022, in connection with the closing of the Going Public Transaction (described below), the Company issued 11,308,250 common shares to Encore Energy Corp. to acquire an 100% interest in Cibola Resources LLC and issued 1,500,000 finders' fees to third-parties who assisted in the transaction. The closing of the transaction is subject to the Company completing a transaction involving the acquisition of all of the outstanding share capital of the Company by an entity already listed on a qualifying stock exchange (the “Going Public Transaction”).

Future Fuel Corporation (OTCPK:EVOG.F) completed the acquisition of Cibola Resources LLC from Neutron Energy, Inc. on May 20, 2022.