Item 1.01 Entry Into a Material Definitive Agreement.
On
? submitting an Individual Procurement Quota on or beforeApril 1 of each year utilizing DEA Form 250; ? submitting an Individual Manufacturing Quota on or beforeMay 1 of each year utilizing DEA Form 189; ? collecting samples of cannabis and distributing them to DEA-registered analytical laboratories for chemical analysis during the pendency of cultivation and prior to theDEA's taking possession of the cannabis grown; ? providing the DEA with 15-day advance written notification, via email, of its intent to harvest cannabis; ? following theDEA's packaging, labeling, storage and transportation requirements; ? distributingDEA's stocks of cannabis to buyers who entered into bona fide supply agreements with the Company; ? providing the DEA with 15-day advance written notification of its intent to distribute cannabis; and ? invoicing the DEA for harvested cannabis that it intends to sell to the DEA.
Finally, the Company's MOA with the DEA contains an Addendum ("MOA Addendum") stating certain conditions for the Company's hemp activities, and specifying that the Company's hemp activities are not subject to the terms or requirements of the MOA since hemp is not a controlled substance and was made legal by the Agriculture Improvement Act of 2018 (the "2018 Farm Bill"), which has been codified in 21 C.F.R. § 1308.11(d)(31)(ii)), 21 U.S.C. § 802(16)(B)(i), and 7 U.S.C. § 1639o.
Copies of the MOA and the MOA Addendum are filed as Exhibit 10.1 and Exhibit 10.2 to this Current Report on Form 8-K, respectively, and are incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits Exhibits. Exhibit Number Description 10.1 Memorandum of Agreement, datedApril 27, 2023 10.2 Addendum to Memorandum of Agreement, datedApril 27, 2023 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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