FutureWorld Energy, Inc. (OTCPK:FWDG) entered into a letter of intent to acquire Torchlight Energy Inc. from Torchlight Energy Resources, Inc. (NasdaqCM:TRCH) for $1.4 million in stock on January 6, 2014. FutureWorld Energy will pay consideration of $1.4 million in its common stock, one share of Series A preferred stock and 25 million shares in warrants at the exercise price of the closing date of the agreement, exercisable for three years. Environmental consideration in managing these assets will be outmost obligation. The transaction is expected to close shortly.

FutureWorld Energy, Inc. (OTCPK:FWDG) cancelled the acquisition of Torchlight Energy Inc. from Torchlight Energy Resources, Inc. (NasdaqCM:TRCH) on January 6, 2015.