UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
The Company’s subsidiary, Cal Care Grp Inc acquired the Commercial-Microbusiness Cannabis License(s) C12-0000334 pursuant the attached License Purchase Agreement with Chad Enterprises, LLC, doing business as Foundation Delivery. Both the Seller and the License(s) are active and in Good Standing in the State of California. The new property lease is located at 75080 St. Charles Place, Palm Desert, California 92211.
As total consideration for the purchase and sale of the License, and Buyer’s assumption of the assumed obligations and all other liabilities provided for in this Agreement, the Buyer shall pay to the Seller the sum of $600,000.00, and such total consideration to be referred to as the “Purchase Price.”
The Buyer is a wholly owned subsidiary of CuraScientific Corporation. The Buyer will cause to issue $600,000 in Preferred Series-A Shares of CuraScientific Corporation in the name as mandated by the Seller. Said shares shall be irrevocably issued upon execution of this agreement in Preferred Series-A stock of Curascientific Corporation in the name of Buyer. Pursuant with the Preferred Series-A Designation, this Preferred Series-A has a value of $10.00 per share. The Company agrees to issue 60,000 Preferred Series-A Shares in value of $600,000.
Item 9.01. Exhibits.
(d) Exhibits.
| Exhibit 2.1 | Board Resolution and License Purchase Agreement |
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.
| CuraScientific Corp. | ||
| Date: May 26, 2023 | ||
| By: | /s/ William J. Reed | |
| Name: William J. Reed | ||
| Title: Chief Executive Officer | ||