Rocky Mountain High Brands Inc (RMHB)

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On June 24, 2019, we entered into an Operating and Management Agreement (the “Agreement”) with Sweet Ally, Inc. (“Sweet Ally”) for the management of a new jointly-owned limited liability company named Sweet Rock, LLC (“Sweet Rock”). Sweet Rock, a Michigan limited liability company, is owned 51% by Rocky Mountain High Brands and 49% by Sweet Ally. The new company has been organized to establish new brands and manufacture new products consisting primarily of edible products to be distributed nationally and internationally.

Under the Agreement, the sole Manager of Sweet Rock will at all times be our President and CEO, Michael Welch. Although our CEO will have general management authority over Sweet Rock, certain actions will require the consent of 60% of the membership (or, effectively, both Sweet Ally and Rocky Mountain High Brands), including:

·Hiring personnel;·Borrowing money, executing a guaranty or long term lease, or granting a security interest in Sweet Rock’s assets;·Issuing or selling additional membership units in Sweet Rock;·Entering into, amending, or terminating a related party agreement;·Selling any material assets of Sweet Rock; or·Dissolving, winding-up, or initiating bankruptcy for Sweet Rock.

Any transfer or sale of membership interests in Sweet Rock is subject to a right of first refusal by the existing members. Profits and losses from Sweet Rock will be allocated equally between Sweet Ally and Rocky Mountain High Brands