0001004878-11-000209.txt : 20110613 0001004878-11-000209.hdr.sgml : 20110613 20110613142246 ACCESSION NUMBER: 0001004878-11-000209 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110608 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20110613 DATE AS OF CHANGE: 20110613 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SYNERGY RESOURCES CORP CENTRAL INDEX KEY: 0001413507 STANDARD INDUSTRIAL CLASSIFICATION: OIL AND GAS FIELD EXPLORATION SERVICES [1382] IRS NUMBER: 202835920 STATE OF INCORPORATION: CO FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-146561 FILM NUMBER: 11907944 BUSINESS ADDRESS: STREET 1: 20203 HIGHWAY 60 CITY: PLATTEVILLE STATE: CO ZIP: 80651 BUSINESS PHONE: 303-591-7413 MAIL ADDRESS: STREET 1: 20203 HIGHWAY 60 CITY: PLATTEVILLE STATE: CO ZIP: 80651 FORMER COMPANY: FORMER CONFORMED NAME: Brishlin Resources, Inc. DATE OF NAME CHANGE: 20071217 FORMER COMPANY: FORMER CONFORMED NAME: Blue Star Energy Inc DATE OF NAME CHANGE: 20070926 8-K 1 form8kitem101june-11.txt JUNE 8, 2011 8-K RE ITEM 1.01 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): June 8, 2011 SYNERGY RESOURCES CORPORATION ----------------------------- (Exact name of Registrant as specified in its charter) Colorado None 20-2835920 ---------------------------- -------------------- ------------------ (State or other jurisdiction (Commission File No.) (IRS Employer of incorporation) Identification No.) 20203 Highway 60 Platteville, Colorado 80651 --------------------------------------------------- (Address of principal executive offices, including Zip Code) Registrant's telephone number, including area code: (970) 737-1073 -------------- N/A ------------------------------- (Former name or former address if changed since last report) Check 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 (see General Instruction A.2. below) [ ] 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-14(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 1.01 Entry into a Material Definitive Agreement On June 8, 2011 Synergy Resources Corporation entered into a revolving line of credit agreement with Bank of Choice, located in Greeley, Colorado. The revolving line of credit allows Synergy to borrow up to $7,000,000. Amounts borrowed from the bank will be used to develop oil and gas properties, acquire new oil and gas properties, as well as for working capital and other general corporate purposes. Any amounts borrowed from the bank: o will bear interest, payable monthly, at the prime lending rate plus 2%, subject to a minimum interest rate of 5.5%, o will be due and payable on June 3, 2012, and o are secured by Synergy's accounts receivable, equipment, inventory, and fixtures, as well as 64 oil and gas wells in which Synergy has a working interest varying from 37.5% to 100%. The wells which serve as security for the bank loan include the wells drilled under Synergy's 2010 and 2011 drilling programs. 2 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. Date: June 9, 2011 SYNERGY RESOURCES CORPORATION By: /s/ Ed Holloway ------------------------------------- Ed Holloway, President 3