Current Report · Items 8.01, 9.01 · 8-K
BioForce Nanosciences Holdings, Inc.
BFNHOTCEQUITYCurrent
Other Events
ITEM 8.01 – VOLUNTARY DISCLOSURE OF OTHER EVENTS On June 5, 2026 Bioforce Nanoscience, Inc. ( “Bioforce” or “BFNH”) received an assignment of federal oil and gas leases covering approximately 19,957 acres of land located in the White River Valley, Nye County, Nevada (collectively, the "Nevada Leases") from Natural Minerals Trust, LLC, a Delaware limited liability company, which is controlled by Ne…
Disclosure sections
Item 8.01Item 8.01 - Other Events
ITEM 8.01 – VOLUNTARY DISCLOSURE OF OTHER EVENTS
On June 5, 2026 Bioforce Nanoscience, Inc. ( “Bioforce” or
“BFNH”) received an assignment of federal oil and gas leases covering approximately 19,957 acres of land located in the White
River Valley, Nye County, Nevada (collectively, the "Nevada Leases") from Natural Minerals Trust, LLC, a Delaware limited liability
company, which is controlled by Nexus Capital Investments, Inc., the Company's majority shareholder ("Nexus"). The assignment
is pending approval by the United States Bureau of Land Management ("BLM"). There is no assurance that this approval will
be granted.
The Nevada Leases consist of eleven (11) federal oil and gas leases located
in the Great Basin and Range in Nye County, Nevada. The Great Basin is a foreland basin, and its producing formations are mostly from
the Devonian and Mississippian Ages. Chainman Shale Formation is the main source rock (up to 9% TOC - Total Organic Carbon) and
has good thermal generation windows following depositional episodes that filled the White River Valley with multiple structural traps.
The leases target prospective hydrocarbon-bearing formations, including but not limited to the Chainman Shale Formation, Pilot Shale,
Ely Limestone Formation, Guilmete Dolomite Formation, Simonson Dolomite Formation and Joana Limestone Formation. These formations have
demonstrated commercial oil and gas production in analogous wells operated by third parties in the immediate vicinity of the Nevada Leases.
The Nevada Leases have primary terms ranging from 10 years, with automatic
extensions (“held by production”) for as long as oil or gas is produced in paying quantities. If the transfer of the leases
is granted, the Company will be obligated to pay the United States federal government a royalty of 12.5% of gross production revenues,
in accordance with standard BLM lease terms. However, no proven reserves have been established, and no pilot wells have been drilled.
Accordingly, there is no assurance that we will be able to develop productive oil and gas operations from the land covered by these Nevada
Leases.
If the assignment of the Nevada leases is approved, the Company intends
to commence development activities on the Nevada Leases, which may include:
- Additional geological and geophysical studies, including 3D seismic surveys;
- Drilling of initial exploratory and development wells;
- Completion and production testing of wells;
- Construction of gathering systems and production infrastructure;
- Evaluation of strategic partnerships, joint ventures, or farm-out arrangements to accelerate development and share capital costs and
technical risk.
On July 01, 2026, Bioforce engaged Ryder Scott, a leading independent petroleum
engineering firm, to provide expert advice on the potential development of our lease claims. BFNH anticipates that, with these engineers'
assistance, the Company could develop reserve evaluations to guide BFNH’s exploration efforts, reinforcing the Company’s dedication
to transparency regarding the overall potential of these claims.
The Company previously announced a strategic pivot from vitamin supplement
operations to oil and gas exploration and production. Ownership of the Nevada Leases and the Company’s plan to explore and produce
oil and gas are our first steps in this transformation.
Certain statements contained in this Current Report on Form 8-K are forward-looking
statements and are based on future expectations, plans and prospects for BFNH’s business and operations that involve a number of
risks and uncertainties. BFNH’s forward-looking statements in this report are made as of the date hereof, and the Corporation
disclaims any duty to supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments,
changed expectations or otherwise. In connection with the “safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995, the Corporation is identifying certain forward-looking information regarding the Company 's business. Actual events
or results may differ materially from those contained in these forward-looking statements. Important factors that could cause future
events or results to vary from those addressed in the forward-looking statement include, without limitation, risks and uncertainties arising
from the ability of BFNH to successfully implement its business plan; uncertainties relating to the ability to realize the expected benefits
of the business; unanticipated or unfavorable regulatory matters; general economic conditions in the region and industry in which BFNH
operates, and other risk factors as discussed in the BFNH’s other filings made by the Corporation from time to time with the United
States Securities and Exchange Commission.
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