Trailblazer Resources, Inc. (OTCPK:TBLZ) signed a letter agreement to acquire substantially all assets of Solus Industries, LLC for $8.4 million in stock on September 9, 2013. Under the terms of the agreement, Trailblazer Resources agreed to issue 20 million shares of newly-issued common stock, representing 41.4% of Trailblazer outstanding shares and Trailblazer will change its name to Solus Corporation at or shortly after the closing of transaction. The agreement also contemplates that upon closing, the Trailblazer Board of Directors will consist of five members, two of which will be designated by Solus, with to be designated the remaining three members by Trailblazer. The Board of Directors shall appoint a Chief Executive Officer and Chief Financial Officer for TBLZ. The transaction is subject to approval by the Solus' shareholders and requires such approval by September 10, 2013, satisfactory completion of due diligence by Trailblazer and provides for completion of due diligence by September 27, 2013, regulatory approvals, approval from lenders, third parties, necessary consents and final approval by TBLZ's Board of Directors following completion of due diligence. The transaction has been approved by shareholders of Solus Industries. The asset acquisition is expected to close on or before November 15, 2013.

Fay M. Matsukage of Dill, Dill, Carr, Stonbraker & Hutchings acted as legal advisor and Mark Leitner of BDO, LLC acted as auditor for Trailblazer Resources.

Trailblazer Resources, Inc. (OTCPK:TBLZ) cancelled the acquisition of substantially all assets of Solus Industries, LLC on October 25, 2013. Termination was due to unsatisfactory results of due diligence investigation of Solus. Trailblazer Resources, Inc.'s Board voted not to proceed with the proposed transaction.