JACKSAM CORPORATION Item 1.01 Entry into a Material Definitive Agreement.
On
The proceeds to the Company will be used to accelerate the market penetration of the Company's market leading workflow automation solutions in the cannabis and CBD industry.
Under the terms of the Agreements, the Company shall sell to the Investor, and
the Investor shall purchase from the Company, (i) up to an aggregate value of
The proceeds for the purchase of Common Stock are expected to be made to the
Company in tranches up to
The Warrants entitle the Investor, at any time during the two-year period
following issuance, to purchase up to an aggregate of 909,091 shares of the
Company's common stock at an exercise price of
The Company paid
Item 2.03 Creation of a Direct Financial Obligation.
The information set forth in Item 1.01 of this report is incorporated herein by reference.
Item 3.02 Unregistered Sales of
The information set forth in Item 1.01 of this report is incorporated herein by reference.
The offer and sale of the Shares by the Company was exempt from registration pursuant to section 4(a)(2) of the Securities Act of 1933, as amended, as a transaction by an issuer not involving any public offering. The Company did not engage in any general solicitation or advertising in connection with the offering or sale of the Shares. Each Purchaser represented that such Purchaser was an accredited investor as defined in SEC Rule 501(a), has enough knowledge and experience in finance and business matters to be a sophisticated investor who is able to evaluate the risks and merits of the investment, and is able to bear the economic risk of an investment in the Shares. Each Purchaser further represented that such Purchaser was purchasing the Shares for their own account and not with a view to distribution or resale.
2
© Edgar Online, source
