Nu-Med Plus (NUMD) adds Avid Gold, new control holder and Canadian gold assets
Rhea-AI Filing Summary
Nu-Med Plus, Inc. completed the acquisition of Avid Gold Ltd, making Avid Gold and its subsidiary Maritimes Gold wholly owned in exchange for 4,500,000 shares of Series A Preferred Stock and the assumption of a $100,000 Avid Gold promissory note. Each Series A share is convertible into 20 common shares, subject to a beneficial ownership cap initially at 4.999% of outstanding common stock (electable up to 9.999%).
The company issued additional preferred equity: 225,000 Series A shares each to the Hayde Family Revocable Trust and CFO Keith Merrell, and 50,000 Series A shares to Hanover International as compensation, plus 1,000,000 Series X Super Voting Preferred shares to director and Sr. Vice President/Chief Geologist Fred Tejada. The Series X shares carry 100 votes per share.
Through the Series X issuance and a Voting Agreement with key insiders, Mr. Tejada controls voting power over 102,411,474 voting shares, or about 44.5% of the company’s approximately 230,220,035 voting shares, resulting in a change in control. The company plans to seek stockholder approval for a 1‑for‑27 reverse stock split, an increase in authorized common stock from 90,000,000 to 500,000,000, and a redomicile from Utah to Nevada. Registration rights were granted to register resales of common stock issuable from the preferred shares, and consulting agreements were entered with Mr. Hayde and Mr. Merrell. Separately, Nu‑Med and subsidiaries signed a Mineral Property Purchase Agreement to acquire six Canadian gold properties totaling over 30,900 acres, subject to closing conditions.
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Insights
Nu‑Med shifts into gold exploration via Avid Gold deal and new control holder.
Nu‑Med Plus has acquired Avid Gold Ltd, adding a gold exploration platform and signing a separate Mineral Property Purchase Agreement covering more than 30,900 acres of Canadian gold claims, subject to conditions. Consideration includes $100,000 debt assumption and 4,500,000 Series A Preferred shares, each convertible into 20 common shares, creating substantial potential equity overhang.
Governance shifts materially: issuance of 1,000,000 Series X Super Voting Preferred shares with 100 votes each, plus a Voting Agreement, gives Fred Tejada control over about 44.5% of roughly 230,220,035 voting shares. This is a concentrated voting block, while existing common shareholders retain economic interest but less influence.
Planned shareholder actions include a 1‑for‑27 reverse split, increasing authorized common shares from 90,000,000 to 500,000,000, and a move to Nevada, all subject to a proxy process and a Required Shareholder Vote. A beneficial ownership limitation of 4.999%, adjustable up to 9.999% on Series A conversions, aims to cap individual holders’ effective common ownership at any time, constraining immediate conversion but not long‑term dilution.
8-K Event Classification
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Key Terms
Registration Rights Agreement financial
Voting Agreement financial
Series X Super Voting Preferred Stock financial
beneficial ownership limitation financial
reverse stock split financial
piggyback registration rights financial
FAQ
What transaction did Nu-Med Plus (NUMD) complete with Avid Gold Ltd?
What change in control occurred at Nu-Med Plus (NUMD) on July 8, 2026?
What corporate actions will Nu-Med Plus (NUMD) seek stockholder approval for?
What are the key terms of the Nu-Med Plus (NUMD) Registration Rights Agreement?
What Canadian gold assets is Nu-Med Plus (NUMD) seeking to acquire?
AI-generated analysis. How Rhea-AI works. Not financial advice.