Panacea Life Sciences Holdings Inc (PLSH)

[tigerpac]

During January 2021, Mr. Kesner negotiated termination of agreements with Ceed2Med, LLC and resolution of litigation, which was authorized by the Board of Directors, the Issuer’s offers to voluntarily exchange the Issuer’s Series A, B-1, B-2, D and E Preferred Stock for the Issuer’s Common Stock and the authorization of the Board of Directors to undertake a 40:1 to 50:1 reverse split of Common Stock. Mr. Kesner has solicited proposals to enter into discussions for acquisition of one or more companies engaged in the electric vehicle (EV) industry which are ongoing and to expand the Issuer’s CBD business into contract manufacturing services. Mr Kesner has also engaged in negotiations to restructure the Issuer’s debt and for new capital.

Additionally, on January 22, 2021 the Board of Directors of the Issuer adopted resolutions authorizing conversion of $213,239 of indebtedness owed to the Reporting Persons into Common Stock. Based on information provided by the Issuer as of February 8, 2021 there were 81,408,546 shares of Common Stock that are authorized to be issued and outstanding, after giving effect to all exchanges of Preferred Stock and debt conversion by the Reporting Persons and others, including 56,213,244 shares of Common Stock outstanding as of November 17, 2020 as reported on the Issuers Quarterly Report on Form 10-Q for the period ended September 30, 2020 as filed with the SEC.