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    CENBF   CA15130L1040

CEN BIOTECH, INC.

(CENBF)
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CEN BIOTECH INC : Entry into a Material Definitive Agreement, Unregistered Sale of Equity Securities, Financial Statements and Exhibits (form 8-K)

04/08/2021 | 05:02pm EDT

Item 1.01 Entry into a Material Definitive Agreement.

On April 2, 2021, CEN Biotech, Inc., an Ontario, Canada corporation (the "Company") entered into a business coaching contract (the "Agreement") with CONFIEN SAS ("CS"). Pursuant to the Agreement, CS agreed to provide the Company with business coaching services to address overall goals as well as specific projects of the Company. Services under the Agreement, may include setting priorities, establishing goals, identifying resources, brainstorming, creating action plans, asking clarifying questions, and providing models, examples, and in-the- moment skills training. Pursuant to the Agreement, the Company agreed to compensate CS by issuing CS 650,000 restricted shares of the Company's common stock (the "Shares") pursuant to a Restricted Stock Agreement under the Company's 2021 Equity Compensation Plan. The term of the Agreement is for twelve (12) months, after which time the Agreement shall be on a month-to-month basis, and the Company or CS, must give the other party two (2) weeks' notice if they desire to terminate the Agreement. The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by the full text of the Agreement, a copy of which is filed as Exhibit 10.1 hereto and is incorporated by reference herein.

On April 2, 2021, in order to issue the Shares under the Agreement, the Company entered into a Restricted Stock Agreement under the Company's 2021 Equity Compensation Plan (the "RSA") pursuant to which the Company issued the Shares to CS. The foregoing description of the RSA does not purport to be complete and is qualified in its entirety by the full text of the RSA, a copy of which is filed as Exhibit 10.2 hereto and is incorporated by reference herein.

Item 3.02 Unregistered Sales of Equity Securities.

The disclosures in Item 1.01 of this Current Report on Form 8-K are incorporated by reference into this Item 3.02. The Shares issued as described in Item 1.01 are exempt from registration under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act"), in reliance upon exemptions from the registration requirements of the Act in transactions not involving a public offering.

Item 9.01 Financial Statements and Exhibits.




(d) Exhibits.



Exhibit   Description
No.

10.1        Business Coaching Contract between
10.2      CEN Biotech, Inc. and CONFIEN SAS
          dated April 2, 2021.
            Restricted Stock Agreement between
          CEN Biotech, Inc. and CONFIEN SAS
          dated April 2, 2021.

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2020 - - -
Net income 2020 14,2 M - -
Net Debt 2020 11,3 M - -
P/E ratio 2020 4,52x
Yield 2020 -
Capitalization 42,4 M 42,4 M -
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees 4
Free-Float -
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Managers and Directors
NameTitle
William Chaaban Chairman, President & Chief Executive Officer
Alex Tarrabain Chief Financial Officer, Director & Vice President
Michael P. Levesque Chief Technology Officer
Ameen Ferris Independent Director & Vice President
Harold Aubrey de Lavenu Independent Director & Vice President