American Cannabis Company, Inc. (OTCPK:AMMJ) entered into a letter of intent to acquire assets of Naturaleaf on December 10, 2020. American Cannabis Company, Inc. entered into an asset purchase agreement to acquire assets of Naturaleaf for $2.4 million on March 11, 2021. Assets include three retail dispensaries located throughout the city and one 10,000 square foot cultivation operation with non-volatile extraction capabilities. The purchase price for the acquisition is $2.2 million and the issuance of 3 million shares of American Cannabis Company's restricted common stock. Payment terms required a $20,000 non-refundable payment upon signing, a cash payment of $1,080,000 after the receipt of the Contingent Approval Letters of the Change of Ownership applications from the Marijuana Enforcement Division (“MED”) and the corresponding City of Colorado Springs (“City”), and the balance of $1,100,000 paid pursuant to a promissory note executed by American Cannabis Company effective upon receipt of the Contingent Approval Letters. The maturity date of the Promissory Note is 365 days from the closing date, includes 10% simple interest accruing annually, and is not subject to a pre-payment penalty. If American Cannabis Company terminates this Agreement during the Due Diligence Period, the initial payment of twenty-thousand $20,000 will be deemed a termination fee. The staff will to transition to American Cannabis Company. The closing of the transaction is contingent upon American Cannabis Company completing due diligence, including obtaining the audited financial statements of Medihemp, SLAM and Medical Cannabis, and the receipt of the Contingent Approval Letters from MED and City approving the transfer of the licenses to American Cannabis Company. The transaction is expected to close in Q1 of 2021. As of March 12, 2021, American Cannabis Company expects to have completed this process in 60 days. As of March 16, 2021, American Cannabis Company anticipate closing the transaction after final regulatory approval, which is expected in the second quarter. Tad Mailander of Mailander Law Office, Inc. acted as legal advisor to American Cannabis Company. Clifton Black of Law Offices of Clifton Black PC acted as legal advisor to Slam Enterprises. American Cannabis Company, Inc. (OTCPK:AMMJ) completed the acquisition of Assets of Naturaleaf on April 30, 2021. On April 29, 2021, as partial consideration American Cannabis Company, Inc. issued 3 million shares of restricted unregistered common stock to Roger Scott Saunders, the sole affiliate and control person of Medical Cannabis, Medihemp and SLAMM. On April 30, 2021, Marijuana Enforcement Division and the City of Colorado Springs granted approval for the change of ownership.