Item 1.01 Entry into a Material Definitive Agreement.
On
iBOT is a botanical nutritional supplements' company developing and
manufacturing botanical formulas and nutritional supplements for custom &
contract manufacturing for leading botanical companies. iBOT's manufacturing
facility is approved by the
The principal shareholders and control persons of iBOT are the Company's Chief Executive Officer and a Company director.
Cannovation developed the "Green Botanicals" nutritional supplements product
line, which includes dozens of unique botanical formulas, and is planning to run
clinical trials on several products. Cannovation targets to market the Green
Botanicals product line in pharmacies and distribution channels in the medical
cannabis field in
Under the Manufacturing Agreement, the parties will agree on the compensation terms for each manufacturing order that Cannovation submits to iBOT It is intended that the price payable to iBOT will be based on the cost of manufacture plus a specified premium to be fixed at the time of each order.
Item 2.01 Completion of Acquisition or Disposition of Assets
Between
The Company's decision to sell the Intelicanna shares was taken, in part, to avoid being subject to the terms of the Investment Company Act of 1940.
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