Indoor Harvest Corp (INQD)

[BahamaPete]

Entry into a Material Definitive Agreement.

Indoor Harvest Corp, a Texas corporation (the “Company”), entered into a material definitive agreement with Fincann Corp., a New York corporation (the “Fincann”). The Company will hold 51% owner of a Joint Venture, Finacann being the other 49% owner. As part of the establishment of the Venture, the Company will contribute a percentage of its issued common stock and Fincann will do the same, such shares to be held by the Joint Venture. It is anticipated the percentage will be 4.9 percent, up to 9.9 percent. The Joint Venture will issue the Company a total of 51 percent of its common stock and issue Fincann 49 percent of its common stock. The Parties will jointly own the Joint Venture and establish a formal business plan and operational protocols to jointly market and pursue business. While the Company documented the terms early March, in light of the Novel COVID-19 and changes in management, formal confirmation of the arrangement was delayed till May 11, 2020. Fincann, not a bank, advises it is focused on providing banking related strategies or solutions for the canabis related industry through a growing consortium of financial institutions, to help marijuana-related businesses (MRBs) to access essential banking services without complicated workarounds. Further due diligence, efforts, are underway. https://www.otcmarkets.com/filing/html?id=14163143&guid=lpiqUeIQNu9Bhth

GOT FINCANN?