Thursday, October 18, 2018 5:33:03 PM
Item 7.01 Regulation FD Disclosure.
On October 16, 2018, Cruzani, Inc. f/k/a U.S. Highland, Inc. (the “Company”) issued a press release entitled “CRUZANI to Acquire Vitamin Infused Water Beverage Company as First Step to Entering New Infused Products Market,” describing its recent entry into a letter of intent (the “LOI”) concerning the Company’s potential acquisition of intellectual property assets pertaining to “VitaminFIZZ.” A copy of the press release is hereby furnished as Exhibit 99.1 and incorporated herein by reference.
Item 8.01 Other Events.
Pursuant to the terms of the LOI, the closing of such transaction is expected to occur no later than November 30, 2018, and the purchase price will be $60,000. Additionally, in connection with such closing, the seller of such assets will enter into a confidentiality, non-competition and non-solicitation agreement having a term of five years. Pursuant to the LOI, the definitive agreement is to contain customary representations, warranties and conditions to closing.
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