Item 1.01 Entry into a Material Definitive Agreement
On March 8, 2021, Chee Corp., a Nevada corporation (the "Company"), advanced the
amount of $25,000 to Klusman Family Holdings, LLC ("KFH"). The obligation to
repay the advance was evidenced by a Promissory Note (the "Note") payable by KFH
to the Company. The Note matures on June 30, 2021, is unsecured, bears 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
advance are to be used by KFH toward the purchase of real property located in
Gilbert, 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 description of the Note is only a summary of the material terms of the Note,
does not purport to be a complete description of the Note, and is qualified in
its entirety by reference to the Note, which is filed as Exhibit 10.1 and
incorporated herein by reference.
© Edgar Online, source Glimpses