Item 1.02 Termination of a Material Definitive Agreement.

As previously reported in the Current Report on Form 8-K filed by cbdMD, Inc. (the "Company") with the U.S. Securities and Exchange Commission on April 30, 2020, on April 27, 2020, the Company entered into a promissory note evidencing an unsecured loan (the "PPP Loan") in the amount of $1,456,100 made to the Company through Truist Bank, a North Carolina banking corporation (the "Lender"), under the Paycheck Protection Program (the "PPP"). The PPP was established under the Coronavirus Aid, Relief, and Economic Security Act and is administered by the U.S. Small Business Administration ("SBA").

On May 17, 2021, the Company received a notification from the Lender that the SBA approved the Company's PPP Loan forgiveness application for the entire PPP Loan balance of $1,456,100 and that the remaining PPP Loan balance is zero.

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