Item 1.01 Entry into a Material Definitive Agreement.
On April 15, 2022, CFN Real Estate II LLC, a Delaware limited liability company,
and wholly-owned subsidiary of CFN Enterprises Inc. (the "Company"), entered
into a Purchase and Sale Agreement (the "Agreement") with Kind Roots Botanicals,
LLC, a Colorado limited liability company, for the purchase of property in Wray,
Colorado, consisting of a 26,330 square foot retail and commercial building
located on a 2.85-acre site (the "Property"), and all fixtures and personal
property used in or related to the ownership or development of the Property for
the purpose of extraction and the manufacturing of cannabidiol (CBD) crude oil,
distillate and isolate, including a certification of compliance with respect to
the "Good Manufacturing Practice" regulations promulgated by the U.S. Food and
Drug administration, in exchange for an aggregate of one million restricted
shares of Company common stock. The Company will use the Property in connection
with its CNP Operating cannabidiol (CBD) manufacturing business and expects that
this acquisition should increase the overall production of the Company's CNP
Operating business by over 50%. The closing occurred on April 29, 2022.
The foregoing description of the Agreement does not purport to be complete and
is qualified in its entirety by reference to the full text of the Agreement, a
copy of which will be filed as an exhibit to the Company's next periodic report
filed with the Securities and Exchange Commission and will be incorporated by
reference herein.
Item 3.02 Unregistered Sales of Equity Securities.
On April 29, 2022, the Company issued one million restricted shares of common
stock in connection with the closing of the purchase of the Property. The shares
were issued pursuant to an exemption under Section 4(a)(2) of the Securities Act
of 1933, as amended.
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