8-K 1 westcanyon8k043008.htm WEST CANYON ENERGY CORP. FORM 8-K APRIL 30, 2008 westcanyon8k043008.htm


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)
April 30, 2008
 
 
 WEST CANYON ENERGY CORP.
 (Exact name of registrant as specified in its charter)
 
 
Nevada
333-130673
20-8756823
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
 
 
20333 State Highway 249, Suite 200 – 11, Houston, TX
77070-26133
(Address of principal executive offices)
(Zip Code)
 
 
Registrant’s telephone number, including area code
(281) 378-1563
 
 
 N/A
 (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 :
 
 o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 


 
 

 
 
Item 3.02
Unregistered Sales of Equity Securities
 
On April 30, 2008, we entered into a convertible promissory note, dated for reference February 5, 2008, with Stealth Energy Ventures AG in the amount of $750,000.  The Note is payable on February 5, 2010 and will accrue interest at the rate of 9%, which is paid semi-annually starting 180 days from the issuance of the Note.
 
The outstanding principal amount of the Note is convertible by Stealth into common shares at a conversion rate based upon 100% of the average closing prices for the 10 trading days immediately preceding the conversion date.   We are able to replay the convertible promissory note at any time without penalty.
 
We issued the Note to a non-U.S. person (as that term is defined in Regulation S of the Securities Act of 1933) in an offshore transaction relying on Regulation S and/or Section 4(2) of the Securities Act of 1933.


 
Item 9.01
Financial Statements and Exhibits.
 
10.1
Convertible Promissory Note dated February 5, 2008 and entered into on April 30, 2008
 

 

 
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 hereunto duly authorized.

WEST CANYON ENERGY CORP.



/s/   Fred Zaziski                  
Fred Zaziski
President

Date:  May 2, 2008