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Monday, October 05, 2020 3:21:29 PM
"November 19, 2019, the Nipton township property, held by the Company’s wholly-owned subsidiary, Nipton, Inc. (“Nipton”), was foreclosed upon in a trustee’s sale due to defaults in the payments provided for in the property’s purchase agreement payment schedule for the balance of the purchase price for the property. Accordingly, Nipton no longer has title to the Nipton township property. On April 6, 2018, American Green, Inc. had transferred ownership of Nipton, holding title to the Nipton township property (subject to the original owner’s mortgage), to the Company, in exchange for issuance to American Green , Inc. of 160,000 shares of the Company’s Series A Convertible Preferred Stock.
Discussions are continuing with the original seller of the property.
SIGNATURE
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.
Dated: December 16, 2019 CANNAWAKE CORPORATION
By:
/s/ Scott Stoegbauer
President"
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