Eugene Chaban, Sergey Panchuk and others entered into a letter agreement to acquire Tysagaz LLC from Cub Energy Inc. (TSXV:KUB) for $1 on July 8, 2022. As per the terms of the deal, the buyers assumes all of 3P's and Tysagaz' liabilities including the Ukraine bank debt that is guaranteed by Cub and all provisions for reclamation costs. The deal is subject to several conditions which include entering into a definitive agreement, regulatory approval, Cub is to be fully released from all Tysagaz liabilities, including Cub's guarantee of Tysagaz' repayment of the Ukraine bank loan and shareholder approval. Cub Energy intends to satisfy the shareholder approval by written consent. The transaction is expected to close in the next month. As of July 29, 2022, Eugene Chaban, Sergey Panchuk and others signed a definitive Share Sale and Purchase Agreement to acquire 100% interest in 3P International Energy Ltd and its wholly-owned Ukraine subsidiary, Tysagaz LLC from Cub Energy. Cub Energy received conditional approval from the TSX Venture Exchange and the Company obtained written shareholder consents representing approval of approximately 54% of the currently issued shares.

Eugene Chaban, Sergey Panchuk and others completed the acquisition of Tysagaz LLC from Cub Energy Inc. (TSXV:KUB) on August 17, 2022. In conjunction with the closing, Sergey Panchuk has resigned as Chief Operating Officer of the Cub Energy.