Item 1.01 Entry into a Material Definitive Agreement.
On October 16, 2020 Splash Beverage Group, Inc. (formerly known as Canfield
Medical Supply, Inc." and referred to herein as the "Company") executed a
Subscription Agreement with one accredited investor (the "Subscription
Agreement"), pursuant to which the Company received gross proceeds of $675,000
pursuant to which the Company will issue the investor 613,636 shares of the
Company's common stock and warrant (the "Warrant") to purchase 306,818 shares of
the Company's common stock. If after six months form the issuance of the
Warrant, there is no effective registration statement registering the shares of
common stock issuable upon exercise of the Warrant the warrant may be exercised
on a cashless basis as set forth in the Warrant.
In connection with the foregoing, the Company relied upon the exemption from
registration provided by Section 4(a)(2) under the Securities Act of 1933, as
amended, for transactions not involving a public offering.
The foregoing descriptions of the Subscription Agreement and Warrant are
qualified by reference to the full text of such documents which are filed as
exhibits to this report.
Item 9.01 Financial Statements and Exhibits.
10.1 Form of Subscription Agreement (incorporated by reference to the
current Report on Form 8-K filed on August 18, 2020)
10.2 Form of Warrant (incorporated by reference to the current Report on
Form 8-K filed on August 18, 2020)
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