Item 1.01 Entry into a Material Definitive Agreement

On May 25, 2020, Cerberus Cyber Sentinel Corporation (the "Company") entered into an Stock Purchase Agreement (the "SPA") with Technologyville, Inc., an Illinois corporation ("Techville"), and its sole shareholder, Brian Yelm ("Yelm"). Pursuant to the SPA, all of Techville's outstanding common shares that are owned by Yelm will be exchanged for the issuance of 3,392,271 shares of common stock, par value $0.00001, of the Company.

Techville is an information technology consulting firm specializing in automated managed services for businesses through various product and service offerings including Tech Connect Pro, Tech Connect Cloud Services, Tech Connect Drive and Tech Connect Security. Techville operates from three offices located in Algonquin, IL, Mesa, AZ and New Braunfels, TX. Techville's staff of 12 people consists of a multi-disciplinary group with expertise in engineering, operations and sales. Techville's client-base of over 50 companies spans a range of industries from behavioral health, manufacturing, communications and financial services.

The shares of the Company's common stock to be issued to Yelm upon closing of the SPA will not be registered under the Securities Act of 1933, as amended (the "Securities Act") in reliance upon an exemption from registration under Section 4(a)(2) of the Securities Act.

The foregoing descriptions do not purport to describe all of the terms and provisions of the Merger Agreement, and are qualified in their entirety by reference to the Merger Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

© Edgar Online, source Glimpses