Sunshine Biopharma Inc (SBFM)

[vinc1712]

8-k!!

On January 1, 2018, we entered into a Share Purchase Agreement with Mohamed Belhaj and Atlas Pharma Inc. (the “Atlas Agreement”), wherein we acquired all of the issued and outstanding shares (the “Shares”) of Atlas Pharma Inc., (“Atlas”) from Mr. Belhaj. The purchase price for the Shares was Eight Hundred Forty Eight Thousand Dollars ($848,000). All references to dollar amounts in this report refer to Canadian dollars, unless otherwise indicated. The purchase price included a cash payment of $100,500, plus issuance of 20,000,000 shares of our Common Stock, plus a promissory note in the principal amount of $450,000, with interest payable at the rate of 3% per annum. We are required to make payments of $10,000 per calendar quarter, due and payable on or before the end of each such calendar quarter through December 31, 2023.

Atlas is a certified company dedicated to chemical analysis of pharmaceutical and other industrial samples. Atlas Pharma has 9 full-time employees and generated revenues of approximately $500,000 in 2017. Housed in a 5,250 square foot facility, Atlas’s operations are authorized by a Drug Establishment License (DEL) issued by Health Canada and are fully compliant with the requirements of Good Manufacturing Practices (GMP).

We intend to expand Atlas’ business operations by purchasing additional equipment and hiring more technical and sales personnel. There are no assurances that this will occur.