Item 1.01 Entry into a Material Definitive Agreement.
On August 23, 2018, the Company entered into a stock purchase agreement (the “Agreement”) with Peppermint Jim, LLC (“Peppermint Jim”) whereby the Company shall acquire 51 units (representing 51% of Peppermint Jim) in exchange for the issuance of $250,000 worth of Series B preferred stock of the Company (the “Series B Preferred Shares”). Under the terms of the Agreement the closing of the transaction shall occur on or before August 31, 2018, where the Series B Preferred Shares shall be issued in exchange for the 51 units of Peppermint Jim.
The foregoing information is a summary of the Agreement involved in the transaction described above, is not complete, and is qualified in its entirety by reference to the full text of the Agreement, which is attached as Exhibit 99.1 to this Current Report on Form 8-K. Readers should review the Agreement for a complete understanding of the terms and conditions of the transaction described above.
Item 9.01 Financial Statement and Exhibits.
