Sky Quarry Inc. 8-K

What Happened

• Sky Quarry Inc. announced it terminated the equity purchase agreement with Varie Asset Management LLC on January 7, 2026 and filed an 8-K on January 8, 2026. The agreement had allowed Varie to buy up to $8,125,000 of Sky Quarry common stock over time.

Key Details

• The agreement was terminated without cause pursuant to Section 11(c) of the Agreement.
• In connection with the deal, Varie was issued 366,260 shares of Sky Quarry common stock as consideration for its commitment.
• Prior to termination, Varie had not purchased any shares under the agreement.
• Sky Quarry said the termination will not trigger any penalties and stated it is exploring alternative financing plans.

Why It Matters

• The termination removes a potential source of up to $8.125 million in equity financing that Sky Quarry had committed access to under the agreement. Investors should note the company issued 366,260 shares to Varie as part of that commitment but received no cash purchases from Varie under the agreement. Sky Quarry’s statement that it is pursuing other financing options is material for assessing near-term capital plans and dilution risk.