Okmin Resources, Inc. has entered into an agreement to merge its wholly-owned subsidiary, BPCAP Merger Sub, Inc., with BevPoint Capital LP, the owner and operator of American Icon Brewery. Following the merger, the surviving entity will be renamed BEVPT Operations Inc. BevPoint is focused on operating and acquiring brewpub and brewery businesses, with American Icon Brewery currently producing more than a dozen craft beers. As part of the transaction, new management changes will take place, with Chris Sellers being appointed as CEO and joining the board alongside John F. Giarrante. Most current officers and directors will resign, except Jonathan Herzog, who will stay on as non-executive chairman with a compensation arrangement. Herzog will also convert preferred stock into common stock and receive a convertible promissory note as part of his compensation. The agreement includes performance-based equity awards, with up to 225 million shares of Okmin Common Stock to be issued to stakeholders upon reaching specific financial milestones. Additionally, BevPoint is required to have $730,000 in cash at closing and will purchase 20 million shares of Okmin Common Stock from affiliates in a separate transaction. Chris Sellers and Jonathan Herzog will each receive convertible promissory notes as part of their compensation packages.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Okmin Resources Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001079973-26-000165), on February 04, 2026, and is solely responsible for the information contained therein.
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