Item 1.01 Entry into a Material Definitive Agreement
On February 1, 2021, Chee Corp., a Nevada corporation (the "Company"), advanced
the amount of $500,000 to Klusman Family Holdings, LLC ("KFH"). On February 3,
2021, the Company advanced the amount of $135,000 to KFH. Each of the advances
was evidenced by a Promissory Note (the "Notes") payable by KFH to the Company.
The Notes mature on June 30, 2021, are unsecured, bear interest at a rate of 10%
per annum, and the unpaid principal and interest may be accelerated upon an
event of default as defined thereunder. The proceeds of the advances are to be
used by KFH toward the purchase of real property located in Phoenix, Arizona.
Aaron Klusman is the sole member of KFH. Mr. Klusman is also Chief Executive
Officer and Chairman of the Board of the Company.
The descriptions of the Notes are only summaries of the material terms of the
Notes, do not purport to be complete descriptions of the Notes, and are
qualified in their entirety by reference to the Notes, the form of which is
filed as Exhibit 10.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
10.1 Form of Promissory Note payable by Klusman Family Holdings, LLC.
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