Current Report Filing (8-k)
16 August 2016 - 11:04AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported)
August 9, 2016
Portlogic
Systems Inc.
(Exact
name of registrant as specified in its charter)
Nevada
|
|
333-151434
|
|
20-2000407
|
(State
or other jurisdiction
|
|
(Commission
|
|
(IRS
Employer
|
of
incorporation)
|
|
File
Number)
|
|
Identification
No.)
|
2
Toronto Street, Suite 209, Toronto, Ontario, Canada
|
|
M5C
2B5
|
(Address
of principal executive offices)
|
|
(Zip
Code)
|
Registrant’s
telephone number, including area code
(647) 847-8350
________________________________________________
(Former
name or former address, if changed since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
☐
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
|
☐
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
|
☐
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
|
☐
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Item
1.01 Entry into a Material Definitive Agreement
On
August 9, 2016, we entered into a Director Service Agreement with our current Chief Executive Officer, Jueane Thiessen. The Agreement
provides that Ms. Thiessen will continue to perform services as a Director pursuant to the directives of our Board of Directors.
The services include setting overall objectives and strategies, overseeing the services performed by our other officers, representing
us to the public and capital markets, and attending meetings of our Board of Directors. Unless the Agreement is terminated early,
the services shall be performed from August 9, 2016 through August 8, 2017. This agreement permits early termination by either
party upon delivery of 30 days advance written notice. There are no early termination penalties.
The
Director Service Agreement between Jueane Thiessen and Portlogic Systems Inc. is filed as Exhibit 10.1 to this report, incorporated
herewith.
On
August 9, 2016, we entered into a Debt Conversion Agreement with our Chief Executive Officer, Jueane Thiessen, whereby $36,072.00
of Accounts Payable owed by the Company to Jueane Thiessen was converted to 7,214,400 restricted common stock of the Company.
The
Debt Conversion Agreement is filed as Exhibit 10.2 to this report, incorporated herewith.
Item 9.01
Financial Statements and Exhibits.
Exhibit
No.
|
|
Description
|
|
|
|
10.1
|
|
Director
Service Agreement between Jueane Thiessen and Portlogic Systems Inc. dated August 9, 2016
|
|
|
|
10.2
|
|
Debt
Conversion Agreement between Portlogic Systems Inc. and Jueane Thiessen dated August 9, 2016
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
|
Portlogic Systems Inc.
|
|
(Registrant)
|
|
|
|
Date:
August 15, 2016
|
/s/ Jueane Thiessen
|
|
(Signature)
|
|
|
|
|
Name:
|
Jueane
Thiessen
|
|
Title:
|
Chief
Financial Officer
|
3