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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

 

Form 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): September 20, 2024

 

HALLMARK VENTURE GROUP, INC.

(Exact name of registrant as specified in its charter)

 

Commission file number 000-56477

 

florida   34-2001531
(State or other jurisdiction of   (I.R.S. Employer
incorporation or organization)   Identification No.)

 

5112 West Taft Road, Suite M, Liverpool, NY

  13088
(Address of principal executive offices)   (Zip Code)

 

877-646-4833

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each Class   Trading Symbol(s)   Name of each exchange on which registered
Common Shares   HLLK   OTC Markets

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 
 

 

ITEM 1.01 ENTRY INTO MATERIAL DEFINITIVE AGREEMENT

 

On September 20, 2024, Hallmark Venture Group, Inc. entered into a Debt Cancellation Agreement with Archer & Greiner, P.C., and a total of $243,000 of legacy legal debts were canceled.

 

On September 26, 2024, Hallmark Venture Group, Inc. (the “Company”) and its Board of Directors of the Company approved the following; i) Agreement and Plan of Reorganization; ii) Change of Control Agreement; iii) Escrow Agreement, iv) Anti-Dilution Agreement; v) Cancellation of the 10/06/2022 Selkirk Global Holdings, LLC Note; vi) Cancellation of the 04/06/2023 Selkirk Global Holdings, LLC Note, vii) Cancellation of the 12/12/2023 Strickland Convertible Exchange Note; viii); ix); xi) the Company authorized its Secretary to open a bank account in the name of the Company.

 

A copy of the aforementioned documents which are filed as Exhibits hereto and incorporated by reference in this Current Report on Form 8-K.

 

ITEM 2.01 COMPLETION OF ACQUISITION.

 

On September 26, 2024, the Company and Jubilee Intel, LLC (“Jubilee”) entered into that certain Agreement and Plan of Reorganization (the “Merger”) whereby the Company acquired 100% membership interests in and to Jubilee in exchange for 100,000 shares of Series A Preferred Stock. As a result of the Merger, Jubilee has become a wholly owned and operating subsidiary of the Company.

 

Prior to the Merger, we ceased being an operating company and became a “shell company”. Pursuant to the Merger, we acquired the business of Jubilee to engage in the business of search engine marketing (“SEM”).

 

2
 

 

Form 10 Information

 

About Jubilee

 

Executive Summary

 

Our company’s proprietary SEM platform automates the creation, optimization, and scaling of digital advertising campaigns across key platforms like Facebook, GDN, and Taboola. By leveraging a direct feed from Yahoo’s partner network, we access real-time data that significantly enhances campaign performance. Through the integration of machine learning and AI, our platform optimizes ad spend, scales profitable campaigns, and pauses or restructures underperforming ones in real time.

 

In addition to our technological advancements, we are pursuing a strategic reverse merger into a fully reporting public shell company. This move will enable us to expand rapidly, gain access to capital markets, and position ourselves for a future acquisition. Our reverse merger, combined with a potential acquisition, provides a pathway for sustained growth and increased market presence.

 

SEM Automation and Machine Learning

 

Our platform integrates machine learning and AI to automate the entire SEM process, from keyword research to campaign generation and optimization. This system eliminates the need for manual intervention, drastically reducing the time and resources required for effective SEM management.

 

Keyword Research: Our platform analyzes massive datasets of search queries, user behaviors, and historical performance metrics to identify high-intent keywords that are most likely to convert. Unlike traditional methods of keyword selection, our machine learning algorithms continuously refine keyword targeting by learning from the performance of active campaigns, adjusting in real time. This enables us to stay ahead of changing trends and user behaviors, ensuring that our campaigns are always aligned with current search demand.
   
Campaign Generation: The platform generates thousands of ad variations tailored to specific audience segments. Using advanced data analytics, our system determines the best combination of ad copy, visuals, and keywords to maximize engagement. We analyze historical performance across similar campaigns and identify which variables contribute most to conversions, allowing us to create highly personalized and optimized ads at scale.
   
Optimization Algorithms: Our AI-driven optimization algorithms constantly analyze live data to adjust bids, placements, and budgets in real time. This ensures that ad spend is directed toward the most profitable opportunities while minimizing waste. Through predictive modeling, the platform anticipates shifts in user behavior patterns, adjusting the campaign strategy preemptively to maintain performance.
   
Scalability: One of the key strengths of our platform is its ability to automatically scale profitable campaigns. Once the system identifies a campaign that is delivering strong results, it rapidly increases the budget and bid amounts to capitalize on the momentum. Conversely, underperforming campaigns are paused or restructured, ensuring that ad spend is allocated efficiently.
   
Yahoo Partner Network Feed – Our access to a direct feed from Yahoo’s partner network gives us a competitive edge by providing access to first-party data, allowing us to target high-quality traffic that many other advertisers cannot reach. The integration enables us to refine our targeting strategies and optimize campaigns in real time, resulting in higher engagement and conversion rates. Additionally, this data allows us to build detailed audience profiles that help improve the precision of our keyword targeting, leading to better overall campaign performance.

 

3
 

 

Technical Overview

 

Predictive Keyword Research Using Random Forest Regressor

 

We utilize a random forest regressor to process and analyze vast amounts of keyword data, often encompassing hundreds of thousands of data points. A random forest regressor is a machine learning algorithm used for predicting continuous values. It builds multiple decision trees during training, each using different subsets of the data, and averages the results to make predictions. This approach improves accuracy and reduces overfitting by leveraging the collective decision-making of several trees, which helps handle the complexity of large datasets.

 

The random forest model is particularly effective for our use case because it excels at handling large, complex datasets and can account for non-linear relationships between variables. Our model factors in key metrics such as search volume, bid cost, competition level, and historical performance to make accurate keyword predictions.

 

Feature Engineering: Our model utilizes a wide array of features, including search intent, seasonality, and location-specific factors, to improve the precision of its predictions. By incorporating dynamic features that adapt to user behavior in real time, our system is able to consistently identify the highest-performing keywords for each campaign. This continuous learning process ensures that our campaigns are always aligned with the most current trends and opportunities.
   
Scalability: The random forest model can handle extremely large datasets, making it ideal for processing the vast amounts of data generated by SEM campaigns. This scalability allows us to quickly adapt to new data inputs, ensuring that our keyword targeting remains sharp even as market conditions change.

 

Timeseries Prediction Using Support Vector Regressor (SVR)

 

For predicting profitability based on time-series data, we utilize the Support Vector Regressor (SVR). SVR is a powerful machine learning model that excels at capturing non-linear relationships in the data. By using a kernel trick, SVR can map input data into higher-dimensional spaces, allowing it to capture complex patterns and trends in campaign profitability over time.

 

Time-of-Day Optimization: By using SVR to identify non-linear trends in profitability, we can predict the optimal time windows for launching campaigns, ensuring that ad spend is allocated during periods with the highest likelihood of conversions. This model helps us capture profitability dynamics more accurately than linear models, which may miss crucial non-linear relationships.

 

Traffic Quality Improvement Using Support Vector Machine (SVM) Classifier

 

To improve traffic quality and block underperforming sites, we use a Support Vector Machine (SVM) Classifier. SVM is a supervised learning model that finds the optimal boundary between different classes of data points. It is particularly effective in high dimensional spaces and works well when there’s a clear margin of separation between classes. We use SVM to classify traffic sources as “good” or “bad” based on various engagement and performance metrics.

 

Traffic Quality (TQ) Scores: The SVM classifier evaluates traffic sources based on factors such as engagement rates, conversion potential, and historical performance. It assigns a quality score to each site, allowing us to block low-quality traffic while directing ad spend to high-quality sources. This classification process ensures that our advertisers receive the best possible traffic for their campaigns.

 

4
 

 

Real-Time Centralized Reporting

 

All our reporting is centralized into a unified dashboard that provides real-time insights into campaign performance, keyword effectiveness, and traffic quality.

 

Unified Dashboard: Clients have full access to the dashboard, which allows them to monitor the progress of their campaigns, view performance metrics, and make data-driven decisions. This level of transparency fosters trust and allows for quick adjustments based on live data.
   
Insights at Scale: Our platform is capable of processing and displaying insights from vast datasets, providing a comprehensive view of campaign performance that helps clients optimize their strategies in real time.

 

Competitive Advantage

 

Our platform stands apart because it seamlessly integrates real-time data, machine learning models, and direct feeds from top-tier search engines. Unlike many platforms that require manual adjustments, our system automates every aspect of campaign creation, optimization, and scaling, resulting in significant efficiency gains and performance improvements for our clients.

 

Unique Data Integration: Our direct feed from partner search engine networks allows us access to exclusive, high-quality data streams that significantly enhance our ability to target audiences with precision.
   
AI-Driven Insights: Our machine learning models are continuously learning and optimizing, which means that campaigns are consistently running at peak performance.

 

Conclusion

 

Our proprietary SEM platform offers a cutting-edge solution for managing and scaling SEM campaigns through automation, AI, and machine learning. With access to a direct feed from Yahoo’s partner network and the ability to seamlessly integrate across platforms like Facebook, GDN, and Taboola, our system is optimized for profitability. Our partnership with a fully integrated credit firm, along with our strategic reverse merger, presents a significant growth and acquisition opportunity, underscoring the value of our platform.

 

Contact Information

 

More information on our SEM automation platform can be found at: https://jubileeintel.com

 

ITEM 5.01 CHANGES IN CONTROL OF REGISTRANT.

 

Pursuant to the Change of Control Agreement referenced in Item 1.01, Evan Bloomberg was assigned 100,000 shares of Series A Preferred Stock. By virtue of this stock assignment, Mr. Bloomberg assumed full voting control of the Company.

 

5
 

 

ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS.

 

On September 26, 2024, John D. Murphy, Jr resigned as Director and CEO of the Company.

 

On September 26, 2024, Evan Bloomberg was nominated as Director of the Company and appointed CEO of the Company.

 

Evan Bloomberg (33) has over 13 years of experience in the SEM industry and has been a driving force behind integrating machine learning and AI into marketing strategies. One of the early innovators in this space, Evan’s technical vision has reshaped how the company approaches automation and data-driven decision-making. A Georgetown University graduate with a degree in Computer Science, Evan combined his technical knowledge with strategic marketing to push the boundaries of what’s possible in SEM. His leadership has been a cornerstone of the company’s growth, driving both technological advancements and market expansion.

 

Outside of work, Evan’s competitive nature shines through his background as a Division 1 track athlete and his dedication to Mixed Martial Arts, where he holds an undefeated amateur record. His focus, discipline, and technical expertise have been key to the company’s continued innovation and success in the fast-evolving SEM and AI landscape.

 

ITEM 5.06 CHANGE IN SHELL COMPANY STATUS.

 

Prior to the Merger, we were a “shell company” (as such term is defined in Rule 12b-2 under the Exchange Act). As a result of the Merger, we have ceased to be a shell company. The information contained in this Current Report constitutes the current “Form 10 Information” necessary to satisfy the conditions contained in Rule 144(i)(2) of the Securities Act.

 

The information included in Item 1.01, Item 2.01, Item 5.01, Item 5.02 of this Current Report on Form 8-K is also incorporated by reference into this Item 2.03 of this Current Report on Form 8-K

 

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

 

EXHIBIT INDEX

 

Exhibit Number   Description
10.01   Debt Cancellation Agreement with Archer & Greiner, P.C.
10.02   Board Resolution
10.03   Agreement and Plan of Reorganization
10.04   Change of Control Agreement
10.05   Escrow Agreement
10.06   Anti-Dilution Agreement
10.07   Cancellation of the 10/06/2022 Selkirk Global Holdings, LLC Note
10.08   Cancellation of the 12/12/2023 Strickland Convertible Exchange Note
10.09   Cancellation of the 04/06/2023 Selkirk Global Holdings, LLC Note
10.10   John D. Murphy, Jr resigned as Director and CEO of the Company
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

6
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated: October 1, 2024

 

Hallmark Venture Group, Inc.  
     
By: /s/ Evan Bloomberg  
Name: Evan Bloomberg  
Title: Chief Executive Officer  

 

7

 

 

Exhibit 10.01

 

FORM OF DEBT CANCELLATION AGREEMENT

 

Debt Cancellation Agreement

 

Hallmark Venture Group, Inc.

5112 West Taft Road, Suite M,

Liverpool, NY 13088

Telephone: 877-646-4833

Email: jmurphy@hallmarkre.com

 

Re: Debt Cancellation Agreement (this “Letter”).

 

Reference is made to that certain Account Receiveable Balance (the “A/R”) by and among Hallmark Venture Group Inc., a Florida corporation, whose principal executive offices are located at 5112 West Taft Road, Suite M, Liverpool, NY 13088 (the “Company”), and Archer & Greiner, P.C. (the “Holder”), with an office located at 1025 Laurel Oak Road, Voorhees, NJ 08043. As of the date last written below, the remaining A/R balance is or was $__________ of principal and accrued interest (“Remaining A/R Balance”).

 

The undersigned Holder and the Company hereby agree as follows:

 

1.As of the date last written below, the Holder shall consider the A/R satisfied and will forego payment of the Remaining A/R Balance.
   
2.No additional payments pursuant to the A/R shall be due by Company to Holder.
   
3.Release. The undersigned, jointly and severally, for themselves and each of their present and former, direct and/or indirect, parents, subsidiaries, Affilates, attorneys, agents, representatives, employees, consultants, brokers, officers, directors, equity and/or debt holders, managers, members, successors, predecessors, heirs and assigns (collectively the “Releasors”), hereby expressly and irrevocably release, waive and forever discharge and hold harmless each of the Company, the Holder, each of the undersigned and each of all of their respective present and former, direct and/or indirect, parents, subsidiaries, affiliates, attorneys, agents, representatives, shareholders, employees, consultants, brokers, officers, directors, equity and/or debt holders, managers, members, successors, predecessors, and assigns (collectively, the “Released Parties”) from any and all actions, causes of action, suits, losses, liabilities, rights, debts, dues, sums of money, accounts, reckonings, obligations, costs, expenses, liens, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, and demands, of every kind and nature whatsoever, whether now known or unknown, suspected or unsuspected, foreseen or unforeseen, matured or unmatured, suspected or unsuspected, in law, admiralty or equity, which any of the Releasors ever had, now have, or hereafter can, shall, or may have against any of the Released Parties from the beginning of time through and including the date hereof, respecting the matters covered hereby or in any way related to the A/R as well as the work arising out of or otherwise provided in connection with the A/R.
   
4.Counterparts. This Letter may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and shall become effective when such counterparts have been signed by each party and delivered to the other parties; provided that a facsimile signature shall be considered due execution and shall be binding upon the signatory thereto with the same force and effect as if the signature were an original, not a facsimile, signature.

 

 
 

 

Agreed and Acknowledged:

 

COMPANY:   HOLDER:
     
Hallmark Venture Group, Inc.   Archer & Greiner, P.C.
     
By:     By:  
Name: John D. Murphy, Jr.   Name: Edward J. Kelleher
Title: CEO   Title: V.P.
Date: 9/__/2024   Date: 9/__/2024

 

 

 

 

Exhibit 10.02

 

Hallmark Venture Group, Inc.

5112 West Taft Road, Suite M,

Liverpool, NY 13088

 

 

 

Consent Minutes in Lieu of Meeting of the Board of Directors:

 

Pursuant to Section 607.0205(2) of the Florida Business Corporation Act, the undersigned, being all the directors of Hallmark Venture Group, Inc., a Florida corporation (the “Corporation”), named in the Articles of Incorporation of the Corporation that were filed with the Department of State of the State of Florida (the “Department”), do hereby waive all formal requirements, including the necessity of holding a formal or informal meeting and any requirements that notice of such meeting be given, and agree that the resolutions set forth below are adopted to the same extent and have the same force and effect that they would have if adopted at an organizational meeting of the Board of Directors of the Corporation (the “Board”) duly called and held in accordance with Sections 607.0205 and 607.0206 of the Florida Business Corporation Act (the “Act”) for the purpose of acting upon proposals to adopt such resolutions:

 

WHEREAS, the Directors have been presented with the following agreements pursuant to a contemplated change of control transaction; i) Agreement and Plan of Reorganization; ii) CHANGE OF CONTROL AGREEMENT, iii) Escrow Agreement, iv) Anti Dilution Agreement:

 

WHEREAS, the Directors have been presented with the resignation of John D. Murphy, Jr, as Director and CEO of the Company;

 

WHEREAS, the Directors have been presented with a proposal to nominate Evan Bloomberg as Director of the Company and appoint Evan Bloomberg as CEO of the Company;

 

WHEREAS, the Directors have been presented with a proposal to open a bank account in the name of the Company at US Bank in Olympia, WA; Paul Strickland, Signatory.

 

WHEREAS, the Directors have been presented with a three Debt Cancellation Agreements; i) Cancellation of the 10/06/2022 Selkirk Global Holdings, LLC Note; ii) Cancellation of the 04/06/2023 Selkirk Global Holdings, LLC Note, iii) Cancellation of the 12/12/2023 Strickland Convertible Exchange Note.

 

NOW, THEREFORE, the undersigned hereby adopt the following resolutions, which shall have the same force and effect as if adopted at a duly called meeting of the Directors.

 

NOW, THEREFORE, BE IT RESOLVED, that the Company hereby approves the foregoing resolutions;

 

NOW, THEREFORE, BE IT RESOLVED, that the Company will seek shareholder consent for the foregoing Board Actions.

 

1

 

 

Hallmark Venture Group, Inc.

5112 West Taft Road, Suite M,

Liverpool, NY 13088

 

GENERAL AUTHORIZATION

 

RESOLVED, that the officers and directors of the Company be, and each of them hereby is, authorized, empowered and directed, for and on behalf of the Company, to execute, file and deliver any and all certificates and documents and take any and all actions as they may deem necessary or advisable in order to carry out the purposes of the foregoing resolutions; and further

 

RESOLVED, that any actions taken by such officers prior to the date of the foregoing resolutions adopted hereby that are within the authority conferred thereby are hereby ratified, confirmed and approved as the acts and deeds of the Company.

 

This Action by Written Consent shall be filed in the Minute Book of the Company and become a part of the records of this Company.

 

[signature page follows]

 

2

 

 

Hallmark Venture Group, Inc.

5112 West Taft Road, Suite M,

Liverpool, NY 13088

 

[signature page to Board Minutes]

 

Dated as of: September 27, 2024  
   
ON BEHALF OF THE BOARD DIRECTORS  
HALLMARK VENTURE GROUP, INC.  
   
/s/John D. Murphy, Jr.  
Name: John D. Murphy, Jr.  
Position: CEO & Director  
   
/s/Paul Strickland  
Name: Paul Strickland  
Position: Secretary & Director  
   
Attachments:  

 

3

 

 

Exhibit 10.03

 

AGREEMENT AND PLAN OF REORGANIZATION

 

By and Between

 

Jubilee Intel, LLC

 

And

 

HALLMARK VENTURE GROUP, INC.

 

Dated as of

 

September 26, 2024

 

AGREEMENT AND PLAN OF REORGANIZATION

 

 
 

 

THIS AGREEMENT AND PLAN OF REORGANIZATION (this “Agreement”) is made and entered into and is effective September 26, 2024, by and between Hallmark Venture Group, Inc., (“HLLK”), a Florida corporation, JMJ Associates, LLC (“JMJ”), Beartooth Asset Holdings, LLC (“BAH”), and Jubilee Intel, LLC, (“Jubilee”), a Nevada limited liability company. HLLK, JMJ, BAH, and Jubilee are sometimes referred to herein each as a “Party” and collectively as the “Parties”.

 

WHEREAS, JMJ is wholly owned and controlled by John D. Murphy, Jr., Director and CEO of HLLK and JMJ holds 75,000 shares of HLLK Series A Preferred Stock;

 

WHEREAS, BAH is wholly owned and controlled by Paul Strickland, Director and Secretary of HLLK and BAH holds 98,259,679 shares of HLLK common stock and 25,000 shares of Series A Preferred Stock;

 

WHEREAS, Together, on a fully diluted basis, JMJ and BAH hold 53.65% of HLLK’s common stock and control 10,098,259,679 votes, or 95.07% of total possible votes for the Company;

 

WHEREAS, Jubilee is controlled by Evan Bloomberg its Manager (“OWNERSHIP GROUP”);

 

WHEREAS, OWNERSHIP GROUP desires to transfer all of the outstanding membership interest units of Jubilee owned by OWNERSHIP GROUP to HLLK in exchange for 100,000 shares of Series A Preferred Stock held by BAH and JMJ, respectively;

 

WHEREAS, BAH desires to return all of the 98,259,679 shares of HLLK common stock it holds to the Company Treasury;

 

WHEREAS, the Parties intend for the transactions described herein to qualify as a tax-free reorganization under Section 368(a)(1)(B) of the Internal Revenue Code of 1986, as amended (the “Code”) and agree to indemnify the members of Jubilee in the event it is determined not to qualify under Section 368(a)(1)(B); and

 

WHEREAS, the Board of Directors of HLLK and the Manager of Jubilee have determined that the transaction described herein are in the best interest of both HLLK and Jubilee and their respective shareholders and members;

 

NOW THEREFORE, in consideration of the above and the mutual warranties, representations, covenants, and agreements set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the Parties, intending to be legally bound, hereby agree as follows:

 

 
 

 

ARTICLE I

 

SHARE EXCHANGE

 

1.1 Terms of the Share exchange.

 

(a)Upon the terms and subject to the conditions of this Agreement, OWNERSHIP GROUP does hereby transfer, assign and deliver to HLLK, as of the Effective Time, and HLLK does hereby accept from OWNERSHIP GROUP, all of the issued and outstanding membership interest of Jubilee in exchange for the issuance of and delivery to OWNERSHIP GROUP of a certificate for 100,000 shares of Series A Preferred stock (the “Share Exchange”);
   
(b)OWNERSHIP GROUP, as of the Effective Time, hereby conveys to HLLK, good, valid and marketable title to the Jubilee Membership Interest free and clear of any and all liens, encumbrances, liabilities, obligations, restrictions (other than applicable securities laws or other regulatory restrictions or requirements) or rights of others of any character whatsoever, other than existing obligations as outlined on the Balance Sheet of the Jubilee. On the date specified in Section 1.2 below, OWNERSHIP GROUP shall deliver to HLLK certificates evidencing the Jubilee Membership Interest in the name of Jubilee, duly endorsed to HLLK on the reverse thereof or accompanied by a duly executed stock power.
   
(c)JMJ, as of the Effective time, does hereby convey to OWNERSHIP GROUP, good, valid and marketable title to 75,000 HLLK Series A Preferred Shares, free and clear of any and all liens, encumbrances, liabilities, obligations, restrictions (other than applicable securities laws restrictions) or rights of others of any character whatsoever.
   
(d)BAH, as of the Effective time, does hereby convey to OWNERSHIP GROUP, good, valid and marketable title to 25,000 HLLK Series A Preferred Shares, free and clear of any and all liens, encumbrances, liabilities, obligations, restrictions (other than applicable securities laws restrictions) or rights of others of any character whatsoever. On the date specified in Section 1.2 below, BAH shall deliver to Jubilee stock certificates evidencing the cancellation of 98,259,679 shares of HLLK Common Stock.

 

1.2 Effective Time; Time and place of Closing.

 

(a)The Share Exchange shall become effective on September 23, 2024 (the “Effective Time”). The delivery of certificates contemplated by this Agreement will take place on the day immediately following the Effective Time at a location as may be mutually agreed upon by the Parties.

 

1.3 Charters, Other Governing Documents and Directors and Officers.

 

(a)The charters and other governing documents of each of HLLK and Jubilee in effect immediately prior to the Effective Time are not amended hereby and shall remain in effect after the Effective Time until duly amended or repealed.

 

 
 

 

(b)The officers and directors of HLLK, and Jubilee in Office immediately prior to the Effective Time, together with such additional persons as may thereafter be elected, shall continue to serve as the directors and officers of such entities from and after the Effective Time, until new directors and officers can be elected.

 

ARTICLE 2

 

REPRESENTATIONS AND WARRANTIES OF Jubilee

 

OWNERSHIP GROUP hereby represents and warrants to HLLK as follows:

 

2.1 Organization, Standing and Power.

 

(a) Jubilee is a limited liability company duly organized, validly existing, and in good standing under the laws of the State of Nevada and has power and authority to carry on its business as now conducted and to own, lease and operate its assets. Jubilee is duly qualified or licensed to transact business and is in good standing in the states of the United States where the character of its assets or the nature or conduct of its business requires it to be so qualified or licensed.

 

2.2 Authority of Jubilee; No Breach By Agreement.

 

(a) Jubilee has the power and authority necessary to execute and deliver this Agreement and to perform its obligations under this Agreement and to consummate the transactions contemplated hereby. The execution, delivery, and performance of this Agreement and the consummation of the transactions contemplated herein, including the Share exchange, have been duly and validly authorized by all necessary LLC action in respect thereof on the part of Jubilee. This Agreement represents a legal, valid and binding obligation of Jubilee, enforceable against Jubilee in accordance with its terms.

 

(b) Neither the execution and delivery of this Agreement by Jubilee, nor the consummation by Jubilee of the transactions contemplated hereby, will (i) conflict with or result in a breach of any provision of Formation or Company Agreement or the Certificate of Incorporation or Bylaws of Jubilee or (ii) constitute or result in a default under or require any consent pursuant to, any law, rule, regulation or order applicable to Jubilee or OWNERSHIP GROUP or any of their respective material assets.

 

2.3 Capital Stock.

 

OWNERSHIP GROUP is the record and beneficial owner of all right, title and interest (legal and beneficial) in and to all issued and outstanding Jubilee Membership Interest, free and clear of all liens and encumbrances, except for restrictions on resale pursuant to applicable state and federal securities laws. Upon the Effective Time, good, valid and marketable title to all issued and outstanding Jubilee Membership Interest, free and clear of all liens, encumbrances, equities or claims, will be transferred to and held by HLLK.

 

 
 

 

ARTICLE 3

 

REPRESENTATIONS AND WARRANTIES OF HLLK

 

HLLK hereby represents and warrants to Jubilee as follows:

 

3.1 Organization, Standing, and Power.

 

HLLK is a corporation duly organized, validly existing and in good standing under the laws of the State of Florida, and has the corporate power and authority to carry on its business as now conducted and to own, lease and operate it assets. HLLK is duly qualified or licensed to transact business as a foreign corporation in good standing in the states of the United States where the character of its assets or nature or conduct of its business requires it to be so qualified or licensed.

 

3.2 Authority of HLLK; No Breach By Agreement.

 

(a) HLLK has the corporate power and authority necessary to execute and deliver this Agreement and to perform its obligations under this Agreement and to consummate the transaction contemplated hereby. The execution, delivery, and performance of this Agreement and the consummation of the transaction contemplated herein, including the Share Exchange, have been duly and validly authorized by all necessary corporate action in respect thereof on the part of HLLK. This Agreement represents a legal, valid and binding obligation of HLLK enforceable against HLLK in accordance with its terms.

 

(b) Neither the execution and delivery of this Agreement by HLLK, nor the consummation by HLLK of the transactions contemplated hereby, will (1) conflict with or result in a breach of any provision of the Articles of Incorporation or Bylaws of HLLK or (ii) constitute or result in a default under, or require any consent pursuant to, any law, rule, regulation or order applicable to HLLK or any of its material assets.

 

ARTICLE 4

 

UNITED STATES INCOME TAX TREATMENT

 

4.1 United States Income tax Treatment.

 

For all United States income tax purposes, the Parties intend for the Share Exchange to qualify as a tax-free reorganization under Section 368(a)(1)(B) of the Code. The Parties shall report the Share Exchange for all United States income tax purposes consistent therewith, and shall not take any position inconsistent with this Section 4.1 in the course of any tax audit, tax review or tax litigation matter relating hereto.

 

ARTICLE 5

 

TERMINATION

 

5.1 Termination.

 

Notwithstanding any of the provision of this Agreement, this Agreement may be terminated and the Share Exchange abandoned at any time prior to the Effective Time: (a) by the mutual written agreement of Jubilee and HLLK; or (b) by either Party (provided that the terminating Party is not then in material breach of any representation, warranty, covenant, or other agreement contained in this Agreement) if the other Party is in material breach of a representation, warranty or covenant contained herein that cannot be cured prior to the Effective Time. In the event of the termination and abandonment of this Agreement pursuant to this Section 5.1, this Agreement shall become void in its entirety and have no effect and neither party shall have any liability to any other Party hereunder.

 

 
 

 

ARTICLE 6

 

MISCELLANEOUS

 

6.1 Entire Agreement.

 

This Agreement constitutes the entire agreement between the Parties with respect to the Share Exchange and the transaction contemplated hereunder and supersedes all prior arrangements or understanding with respect thereto, written or oral. Nothing in this Agreement expressed or implied, is intended to confer upon any person or entity, whether as third party beneficiaries or otherwise, other than the Parties or their respective successors, any rights, remedies, obligations, or liabilities under or by reason of this Agreement.

 

6.2 Amendments and Waivers.

 

(a) to the extent permitted by applicable law, this Agreement may be amended by a subsequent writing signed by each of the Parties. Prior to or at the Effective Time, each Party (which may act through its chief executive officer or other authorized officer except with respect to modifying Section 1.1) shall have the right to amend this Agreement or to waive any provision hereof and any default or breach in the performance of any term or condition of this Agreement by the other Party. No waiver in one or more instances shall be deemed to be or construed as a waiver of any other condition or of the breach of any other term of this Agreement or a waiver for any period, except as expressly stated in such waiver.

 

6.3 Assignment.

 

Except as expressly contemplated hereby, neither this Agreement nor any of the rights, interest or obligations hereunder shall be assigned by any Party hereto without the prior written consent of the other Party. Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of and be enforceable by the Parties and their respective successors and assigns.

 

6.4 Governing Law.

 

Regardless of any conflict of law or choice of law principles that might otherwise apply, the Parties agree that this Agreement shall be governed by and construed in all respects in accordance with the laws of the State of Nevada.

 

6.5 Payment of Expenses.

 

Each Party will pay its own expenses, if any, incurred in connection with the Share Exchange.

 

 
 

 

6.6 Counterparts.

 

This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument.

 

6.7 Captions; Articles and Sections.

 

The captions, headings and section reference contained in this Agreement are for convenience of reference only and are not to be considered in interpreting the provisions of this Agreement. Unless otherwise indicated, all references to particular Articles or Section shall mean and refer to the referenced Articles and Sections of this Agreement.

 

6.8 Severability.

 

Any term or provision of this Agreement which is invalid or unenforceable, shall be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable this Agreement or any of its remaining terms and provisions of this Agreement or affecting the validity or enforceability of any of the terms or provisions of this Agreement.

 

IN WITNESS WHEREOF, each of the Parties has caused this Agreement to be executed on its behalf by its duly authorized officers as of the day and year first above written.

 

  Jubilee Intel, LLC
     
  By:  
  Evan Bloomberg, Manager
     
  HALLMARK VENTURE GROUP, INC.
     
  By:             
  John D. Murphy, Jr., CEO & Director
     
  BEARTOOTH ASSET HOLDINGS, LLC
     
  By:  
  Paul Strickland, Manager
     
  JMJ Associates, LLC
     
  By:  
  John D. Murphy, Jr., Manager

 

 

 

 

Exhibit 10.04

 

CHANGE OF CONTROL AGREEMENT

 

THIS CHANGE OF CONTROL AGREEMENT (this Agreement) made and entered to on the date last written below, by and between Hallmark Venture Group, Inc. (the “Company” or “HLLK”) and John D. Murphy, Jr. and JMJ Associates, LLC (collectively, “Murphy”), Paul Strickland and Beartooth Asset Holdings, LLC, (collectively, “Strickland” and together with Murphy, the “Transferors”), Jubilee Intel, LLC (“Jubilee” or “Transferee”) and concerns the change of control of the Company from Murphy and Strickland to Jubilee, and each shall be referred to individually as a Party and collectively the Parties.

 

WITNESSETH:

 

WHEREAS, Transferors jointly control the Company through the holding of securities as outlined in Schedule “A” (the Murphy and Strickland securities, respectively) and;

 

WHEREAS, Transferors desire to transfer control of the Company to Jubilee or its designee, and;

 

WHEREAS, Transferors are creditors of the Company through the holding of certain debt obligations and;

 

WHEREAS, Jubilee desires to take control of the Company in exchange for the consideration as outlined in this Agreement;

 

NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the Parties agree as follows:

 

RECITALS.

 

The above recitals are true and correct and are incorporated by reference herein.

 

DESCRIPTION OF TRANSACTION/CONSIDERATION.

 

Asset Exchange For Stock and other promises. Upon the terms and subject to the conditions set forth in this Agreement and that certain Agreement and Plan of Reorganization (see Attachment A), on the “Transfer Date” as defined herein, all of the outstanding equity securities held by Transferors shall be delivered to the Escrow Agent and be subject to the provisions of the Escrow Agreement by and between the Parties to this Agreement (see Attachment B).

 

Closing. Subject to the conditions set forth herein, the Closing of this transaction shall occur when; a) Preferred shares held by Transferors are transferred to Jubilee (see Schedule “A”), b) restricted common shares held by Strickland are canceled (see Schedule “A”), c) Transferors are issued the Stock Consideration as defined herein.

 

 

 

 

Issuance of Stock Consideration. Subject to any adjustments provided for herein, the aggregate consideration to be delivered, or caused to be delivered, by Jubilee to Transferors, in full consideration for the transfer of control of the Company (the “Stock Consideration”) shall be 15% of HLLK common stock (the “Adjusted Common Stock Percentage”) after such time that Jubilee restructures the Company through one or more of the following, to include, but not be limited to: merger, acquisition, reverse stock split, or other such transaction, and include an anti-dilution agreement (the “Anti-Dilution Agreement”) (Attachment C) to run concurrent with issuance date of the Stock Consideration pursuant to the issuance guidelines set forth in Schedule B attached.

 

Transfer Date. The Transfer Date shall be the date of Closing as defined in the Agreement and Plan of Reorganization.

 

APPROVAL BY BOARD OF DIRECTORS AND SHAREHOLDERS OF THE COMPANY.

 

The Company and Transferors represent and warrant that this Agreement has been unanimously approved and adopted by the Board of Directors of the Company at a meeting called for the purpose of acting upon the approval and to adopt the provisions of this Agreement and the schedules and attachments herein that require such meeting to be held, including, but not limited to; a) approve the resignations of Murphy as director and officer of the Company, b) nominate and appoint Evan Bloomberg as Director and Officer, c) approve all the other agreements subject to this Agreement, d) seek shareholder approval for the foregoing board actions.

 

REPRESENTATIONS AND WARRANTIES OF THE COMPANY AND TRANSFERORS.

 

The Company and Transferors, for the purpose of inducing Jubilee to enter into and consummate this Agreement, represent and warrant to Jubilee as follows:

 

Organization and Standing of the Company and Transferors. The Company and each Transferor, as applicable, is and will be on the Closing Date duly organized, validly existing and in good standing under its respective jurisdiction. Further, The Company and each Transferor has full power to own its assets and properties and to conduct its business under the laws of its respective jurisdictions, except as set forth herein. The Company and each Transferor is not licensed or qualified as a foreign corporation in any jurisdiction and neither the nature of its properties nor the conduct of its business requires it to be so qualified. The Company and each Transferor hereby warrants that should any of the proceeding be defective, the Parties desire that this Agreement shall serve as a written authorization and obligation to cure all defects and effect the desired transfer.

 

Power and Authority. The Company and Transferors have the power and authority to execute, deliver and perform this Agreement and to execute, deliver and perform the change of control of the Company.

 

Authorization. The execution and delivery by the Company and Transferors of this Agreement and the execution and delivery of it on the Closing Date of the change of control of the Company and the performance by the Company and Transferors of their respective obligations hereunder and thereunder have been or will be prior to closing, duly and validly authorized by all requisite action of the Company and Transferors.

 

 

 

 

Binding Agreement. This Agreement has been duly executed and delivered by the Company and Transferors. This Agreement is, and when executed and delivered by it on the Closing Date, the change of control of the Company, will be the legal, valid and binding obligations of the Company and Transferors enforceable against it in accordance with their respective terms, subject to the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditor’s rights generally and to general principles of equity.

 

Consent. No license, consent or approval of any person is required in order to operate any assets herein, or is required for the Company or Transferors’ execution and delivery of this Agreement, or, that change of control of the Company or for the consummation by the Company and Transferors of the transactions contemplated hereby or thereby.

 

Business Regulatory Bodies. Except as disclosed herein, attached hereto and incorporated by reference herein, there are no disputes, claims, proceedings, arbitrations or investigations, by any Business Regulatory Bodies which regulate or accredit the Company or Transferors’ business or whose accreditation of the Company or Transferors materially affects the Company or Transferors’ business, pending or to the knowledge of the Company or Transferors, threatened or contemplated against or affecting the Company or Transferors’ business or assets. Except as disclosed in this Agreement. the Company and Transferors are not aware of any state of facts or occurrence of any event that might reasonably form the basis of any such dispute, claim, action, proceeding, arbitration, or investigation which might materially adversely affect Jubilee’s business, assets, properties or prospects or the consummation of the transaction contemplated by this Agreement.

 

Legal Proceedings. The Company and Transferors warrant that there are no disputes, claims, actions, suits or proceedings, arbitrations or investigations, either administrative or judicial, pending or, to the knowledge of the Company or Transferors, threatened or contemplated against or affecting the Company or Transferors’ business or assets that would have a material adverse effect, at law, in equity, or otherwise before or by any court of government agency or body, domestic or foreign, or before an arbitrator of any kind. Except as disclosed in this Agreement, the Company and Transferors are not aware of any state of facts or occurrence of any event that might reasonably form the basis of any dispute, claim, action, suit or proceeding, arbitration or investigation against the Company or Transferors which might have a materially adverse effect on the operations, assets, properties or prospects of the Company or Transferors’ business or the consummation of the transactions contemplated by this Agreement.

 

Title to Property. The Company and Transferors warrant that it has good and marketable title to their respective property and assets, be they tangible and intangible personal property and good and marketable title of record to any real property, all of which are reflected in the preliminary unaudited Financial Reports for period end June 30, 2024 or acquired since the date thereof and have not been disposed of in the ordinary course of its business, free and clear of any encumbrances whatsoever, save and except for the same as described herein, which property and assets will be free and clear of all encumbrances on the Closing Date.

 

Schedule of Assets, Properties, Leases and Contracts. (Please see the schedules and attachments included herein).

 

 

 

 

Absence of Certain Events. The Company and Transferors have not: Sold, assigned, or transferred any of its assets or properties, except in the ordinary course of business consistent with past practice; Suffered any damage, destruction or loss, whether or not covered by insurance or suffered any repeated, recurring or prolonged shortage, cessation or interruption in the delivery of supplies, products, or utility service required to conduct their businesses or suffered any change in its financial condition or in the nature of its business or operations which had or might have an adverse effect on the operations, assets, properties or prospects of their businesses; Increased the salaries or other compensation of, or made any advances (excluding advances for ordinary or necessary business expenses) or loaned to, any or its shareholders, directors, officers or employees, or made any increase in, or any additions to, other benefits to which any of its shareholders, directors, officers or employees may be entitled other than salary increases to non-management level employees made in the ordinary course of business. Changed any of the accounting principles followed by them or the methods of applying such principles; Entered into any transactions other than in the ordinary course of business consistent with past practice;

 

Documentation. Neither the Company nor the Transferors nor their respective shareholders, directors, officers, or employees have made duplicate copies or removed any of the files or other records, active or inactive, relating to the Company or Transferors’ business or assets except copies of records (i) required or necessitated by law to be maintained or which will be used solely for the purposes of or as evidence of compliance with governmental laws or regulations; or, (ii) which are integral or useful to the record keeping and operations of them.

 

No Other Contracts to Sell. Neither the Company nor Transferors have entered into a contract to sell, mortgage, or otherwise convey or encumber the Series A Preferred or any part thereof.

 

Non-encumbrance. Neither the Company nor Transferors have, as of the date of this Agreement, and shall not hereafter, transfer or further encumber the Series A Preferred through the Closing Date, including the granting of any deeds, contracts encumbrances, easements or other right in the assets; no structures shall have been placed by the Company or Transferors on the real property portion of the assets from and after the date hereof through closing; and the title to the assets shall remain unchanged from and after the date hereof through the date and time of closing; excepting the transfer of title to assets in the Company or Transferors’ ordinary course of business.

 

JUBILEE’S REPRESENTATIONS AND WARRANTIES.

 

Jubilee for the purpose of inducing Transferors to enter into and consummate this Agreement, hereby represents and warrants to Transferors, as follows:

 

Power and Authority. Jubilee has the ability and authority to execute, deliver and perform under the provisions of this Agreement, to deliver the consideration required at Closing in exchange for the change of control of the Company.

 

Consents. No license, consent or approval of any person is required in connection with the execution and delivery by Jubilee of this Agreement or the change of control of the Company for the consummation by Jubilee of the transactions contemplated hereby or thereby.

 

Litigation. There is no pending, or, to the knowledge of Jubilee, threatened suit, action or litigation, or administrative, arbitration, or other proceeding or governmental inquiry or investigation questioning the validity of this Agreement or the transactions contemplated hereby.

 

 

 

 

Disclosure. No representation or warranty by Jubilee contained in this Agreement nor any information in any statement, certificate, exhibit, schedule or other document furnished or to be furnished to Transferors, or in connection with the transactions contemplated hereby, contains or will contain any untrue statement of a material fact, or omissions or will omit to state a material fact necessary to make the statements contained herein or therein not misleading.

 

INFORMATION AND RECORDS CONCERNING THE COMPANY AND TRANSFERORS’ BUSINESS.

 

Access to Information and Records before Closing Date. Jubilee and its authorized representatives, prior to the Closing Date, may make, or cause to be made, such reasonable investigation and physical inspections of the assets of the Company or Transferors’ business and their respective financial and legal condition as it deems necessary and advisable. The Company and Transferors shall permit Jubilee and its authorized representatives (including legal counsel and independent accountants) upon reasonable notice, to have full access to the assets and relevant books and records of its business at reasonable business hours and it shall furnish Jubilee with such financial and operating data and other information and copies of documents with respect to the products, services, operations and properties of its business at Jubilee shall from time to time reasonable request.

 

Confidentiality of Transferors’ Financial Information. In the event of the termination of this Agreement prior to the Closing Date, Jubilee will deliver to Transferors all documents, work papers and other materials obtained from Transferors relating to it or the transaction contemplated hereby, whether obtained before or after the execution hereof, and Jubilee will use its best efforts to keep confidential all such information, except that such restrictions shall not apply to any information (i) which is in or comes into the public domain other than through Transferors, (ii) which was in the possession of Jubilee before the commencement of negotiations contemplated hereby, (iii) which at any time lawfully comes into the possession of Jubilee from third parties who have a right to disclose such information otherwise that in connection with this Agreement.

 

 

 

 

OBLIGATIONS OF THE PARTIES PENDING CLOSING DATE

 

Conduct of the Company and Transferors’ Business Pending Closing Date. Between the date of the Agreement and the Closing Date, the Company and Transferors will conduct their respective businesses solely in the ordinary course of business consistent with past practices, maintain its inventory and supplies at normal levels by replenishing them as they are consumed, maintain its existence as a corporation, and agree to take no action outside the purview of conducting the day to day business in its ordinary course. By way of example and not limitation, the Company and Transferors shall not, without Jubilee’s prior written consent, do any of the following relating to their businesses: (I) waive or commit to waive any right of substantial value; (ii) sell, lease, transfer, dispose of or encumber or commit to sell, lease, transfer, dispose of or encumber any of its business and assets; (iii) take any actions that impair the existing relationships between it and its employees and other persons and entitles having business relationships with them; (iv) take any action in the conduct of its business which would be contrary to, or in breach of, any term or representation or warranty contained in this Agreement; (v) declare or pay any dividend, or repurchase or redeem any of its equity securities or establish a sinking fund or other reserve for such purpose; (vi) issue, sell, or grant equity or debt securities including common or preferred stock, notes, debentures, bonds, options, warrants or rights; (vii) acquire an interest in any other business enterprise; (viii) amend or permit the adoption of any amendments to the Company or Transferors Articles of Incorporation or ByLaws of effect or permit the Company or Transferors to become a party to any acquisition transaction, recapitalization, reclassification of shares, stock split, reverse stock split or similar transaction; (ix) form a subsidiary or acquire any equity interest in any other person; (x) other then in the ordinary course of business consistent with part practice acquire, lease or license any right or other asset to any Person or sell or otherwise dispose of, or lease or license, any right or other asset to any person; (xi) lend money to any person, or incur or guarantee any indebtedness, except that Transferors may make routine borrowings in the ordinary course of business under its respective existing line of credit; (xii) establish, adopt or amend any fringe benefit or retirement plan, pay any bonus or make any profit-sharing or similar payment to, or increase the amount of wages, salary, commissions, fringe benefits or other compensation or remuneration payable to, any of its directors, officers, employees, or hire any new employee whose aggregate annual compensations is expected to exceed $15,000.00; (xiii) change any of its methods of accounting or accounting practices in any respect; (xiv) commence or settle, whether or not commenced by the Company or Transferees, any legal proceeding; (xv) enter into any material transaction or take any other material outside the ordinary course of business or inconsistent with its past practices; (xvi) agree or commit to take any of the actions described in this paragraph, (xvii) incur any indebtedness for borrowed monies; or, (xviii) make any capital expenditures.

 

Affirmative Covenants. Between the date hereof and the closing date, the Company and Transferors will: Maintain the assets in the same repair, order and condition as they were at the time of execution of this agreement, ordinary wear and tear excepted; Maintain if full force and effect all tangible personal and real property; Maintain in full force and effect the insurance policies and binders and bonds currently in effect relating to their real and tangible properties, businesses and assets; Use its best efforts to preserve intact its present business, assets, real and tangible properties, keep available the services of its present employees and agents (but this shall not require them to make any salary increases between the date hereof and the Closing Date), and maintain its relations and goodwill with its suppliers, customers, distributors, and any others having business relations with them; Maintain all the books and records in accordance with its past practices; Comply with all provisions of the contracts and agreements relating to or effecting its business and assets and comply with the provisions of all laws, rules and regulations applicable thereto;

 

No Negotiation. Prior to the Closing Date, the Company and Transferors shall not directly or indirectly: Solicit or encourage the initiation of any inquiry, proposal or offer from a Person (other than Jubilee) relating to a possible Acquisition Transaction; Participate in any discussions or negotiations or enter into any agreement with, or provide any non-public information to any person (other than Jubilee) relating to or in connection with a possible Acquisition Transaction; or, Consider, entertain or accept any proposal or offer from any person (other than Jubilee) relating to a possible Acquisition Transaction. The Company and Transferors shall promptly notify Jubilee in writing of any inquiry, proposal or offer relating to a possible Acquisition Transaction that is received by the Company or Transferors prior to the Closing Date.

 

 

 

 

Contingencies/Guarantees. Transferors each warrant that it will execute strict non-compete and non- disclosure agreements in favor of Jubilee on or about the date of Closing. Transferors warrant that it maintains all proper documentation evidencing its right title and ownership to the assets listed in Exhibit A.

 

CONDITIONS PRECEDENT TO JUBILEE’S OBLIGATIONS

 

Representations and Warranties. The representation and warranties of the Company and Transferors contained in this Agreement or on any exhibit, schedule, list, certificate or document or in the documents delivered pursuant to the provisions hereof shall be true in all material respects at and as of the Closing Date as though such representations and warranties were made at an as of such time, except to the extent affected by the transactions contemplated hereby.

 

Performance of Covenants. The Company and Transferors shall have performed or complied in all material respects with each of their agreements and covenants required by this Agreement to be performed or complied with by then prior to or after the Closing Date.

 

Transfer of Shares. On the Transfer Date, Transferors shall instruct the Company’s Transfer Agent and cause to transfer the securities as outlined in Schedule “A” attached. The Company hereby warrants that its Transfer Agent is properly licensed by FINRA and the SEC.

 

Legal Matters. No suit, action, investigation, or legal or administrative proceeding shall have been brought or shall have been threatened by any person which questions the validity or the legality of the transactions contemplated hereby or seeks to prohibit or limit the exercise by the Company or Transferors of any material right pertaining to the ownership of the Company’s assets after the Closing.

 

No Material Adverse Change. The Company’s general business and the operations or prospects thereof shall not be materially adversely affected in any way by any regulatory agency actions, whether federal, state or local, or as a result of disaster, accident, labor, dispute, claim, stoppage, cessation or interruption in business, or utility services, flood, fire or other casualty, drought, embargo, civil disturbance, uprising, activity of armed forces or act of God or pubic enemy.

 

CONDITIONS PRECEDENT TO THE COMPANY AND TRANSFERORS’ OBLIGATIONS

 

Unless waived by Transferors, Jubilee’s obligation to consummate the transactions contemplated by this Agreement is subject to the fulfillment prior to or at the Closing Date, of each of the following conditions:

 

Performance of Covenants. Jubilee has performed or complied in all material respects with each of its agreement and covenants required by this Agreement to be performed or complied with by it prior to or at the Closing Date.

 

 

 

 

No Restraints. No temporary restraining order, preliminary or permanent injunction or other order preventing the consummation of this Agreement by Jubilee shall have been issued by any court of competent jurisdiction and remain in effect, and there shall not be any legal requirement enacted or deemed applicable to this Agreement that makes consummation of this Agreement by the Parties illegal.

 

CONDITIONS SUBSEQUENT

 

Transferors acknowledges that Jubilee is exchanging Transferors’ selected assets, properties and liabilities as defined herein only. Accordingly, Jubilee is entitled to enjoy the following Covenants of Non-Disclosure and Restrictions on Competition by Transferors:

 

NON-DISCLOSURE:

 

Transferors have acquired and developed certain trade secrets, methods of operations and proprietary information during the course of its operation of the Company. In consideration of this Agreement, Jubilee shall not divulge, sell, lend, gift, lease reveal, relay, transfer, convey, nor hypothecate any of these proprietary secrets or methods to any party whatsoever, related or unrelated to the Company, for any reason whatsoever. Jubilee acknowledges that to disclose said information to any party would negatively impact Transferors business. This non-disclosure shall remain in effect for (3) three years from the date of execution of this Agreement. Transferors further acknowledge and agree that during the period of transition, Transferors will acquire certain additional proprietary information, methods and trade secrets from Transferors’ interaction with Jubilee and their businesses. Similarly, the non-disclosure restrictions and covenants contained in this section shall apply and restrict Transferors from any disclosure of any such information acquired from Jubilee for the identical (3) three-year period.

 

NON-COMPETE/ RESTRICTION ON TRADE

 

Transferors agree that it owes a reasonable duty to not interfere with Jubilee’s success or business operations. The removal of competition from Transferors shall be considered reasonable assistance on the part of Transferors. Specifically, Transferors agree to not; compete against Jubilee, nor engage in, operate, purchase or assist with the operation, production, marketing or sales of any business, company, proprietorship, partnership, personal entity or association whatsoever, that engages Jubilee’s business for a period of (3) three years from the date of execution of this Agreement. Transferors agree that breach of this restriction on trade will immediately cause Jubilee direct financial harm and damages and therefore, Jubilee shall be entitled to immediate injunctive relief to cease any activities in conflict or competition with Transferors, prior and in addition to monetary damages.

 

 

 

 

INDEMNIFICATION.

 

Each Party hereto shall indemnify and hold harmless (such party is hereinafter referred to the “Indemnifying Party”), each other party against any and all losses, costs, expenses, claims, damages or other liabilities, including the amount of any settlement approved by such Indemnifying Party, expenses of enforcing this Agreement, which such other party (the “Indemnified Party”) may suffer, incur or become subject to, and to reimburse the Indemnified Party for any legal, audit or other expenses incurred by it in connection with investigating any claims and defending any actions, in so far as such losses, costs, expenses, claims, damages, liabilities or actions arise out of or are based upon (i) false, misleading or untrue representations or a breach of any warranty made by the Indemnifying Party herein, or in any exhibit, schedule, written statement, list, certificate, or other instrument attached to this Agreement or delivered to the indemnified party pursuant hereto; or (ii) any breach or default in any performance by the Indemnifying Party of any of its covenants or agreements with the Indemnified Party; or, (iii) in cases where Transferors are the Indemnified Party and Shareholders are the Indemnifying Party, any liability or obligation of them which is not assumed by Jubilee at the Closing Date pursuant to the provisions of this Agreement.

 

An Indemnified Party seeking indemnification hereunder shall promptly notify the Indemnifying Party of the assertion of any claim or the discovery of any facts upon which the Indemnified Party intends to base a claim for indemnification hereunder. With respect to any claim made by a third party against which an Indemnifying Party is seeking indemnification hereunder, the Indemnifying Party shall have the right, at its own expense, to participate in or assume control of the defense of such claim, and the Indemnified Party shall fully cooperate with the Indemnifying Party subject to reimbursement for actual out of pocket expenses incurred as a result of such request by the Indemnifying Party. If the Indemnifying Party either does not elect to assume control or otherwise participate in the defense of any third party claim, the Indemnifying Party shall be bound by the results.

 

TERMINATION.

 

This Agreement may be terminated at any time prior to Closing Date by: a) Jubilee, should Transferors fail to produce evidence of the transfer of Schedule “A” assets to Jubilee; b) The reorganization of the Company fails to be completed.

 

MISCELLANEOUS.

 

Survival of Representations and Warranties. All representations, warranties, covenants, indemnifications and agreements made by any Party in this Agreement, or in any Exhibit, schedule, certificate, the Documents, document or list delivered by any such Party pursuant hereto shall survive the Closing Date. Notwithstanding any investigation conducted before, on, or after the Closing Date, or the decision of any Party to complete the transactions contemplated by this Agreement, each party hereto shall be entitled to rely upon the representations and warranties of the other Party or Parties.

 

Best Efforts. The Parties shall use their respective best efforts with respect to matters within their control to cause the transactions contemplated by this Agreement to be consummated.

 

Further Assurances. Each party hereto shall execute and cause to be delivered to each other party hereto such instruments and other documents, and shall take such other actions, as such other party may reasonably request (prior to, at or after the Closing) for the purposes of carrying out or evidencing any of the transactions contemplated by this Agreement.

 

Costs and Expenses. Except as expressly otherwise provided in this Agreement, each party hereto shall bear its own costs and expenses in connection with this Agreement and the transaction contemplated hereby.

 

 

 

 

Performance. Should any party default in the performance of the terms and conditions of this Agreement or any other agreement referred to herein which results in the filing of a lawsuit for damages, specific performance or other remedy, the substantially prevailing party in such lawsuit shall be entitled to recover his, her or its reasonable attorney’s fees and court costs from the losing party or parties, including the same on appeal.

 

Benefit and Assignment. This Agreement shall be binding upon: the Company and successors and assigns (if any); the Transferors and their respective personal representatives, executors, administrators, estate, heirs, successors and assigns (if any); and Jubilee and its successors and assigns. This Agreement shall inure to the benefit of: the Company, the Transferors, Jubilee and the respective heirs, personal representatives, successors and assigns (if any) of the foregoing.

 

Effect and Construction of this Agreement. This Agreement and the exhibits and schedules hereto embody the entire Agreement and understanding between the parties and supersedes any and all prior agreements, arrangements, and understandings relating to matters provided for herein, The captions are for convenience only and will not control or affect the meaning or construction of the provisions of the Agreement. This Agreement may be executed in one or more counterparts and all such counterparts shall constitute one and the same instrument. The singular shall include the plural, the plural shall include the singular and one gender shall include all genders. The parties hereto agree that any rule of construction to the effect that ambiguities are to be resolved against the drafting party shall not be applied in the construction of interpretation of this Agreement. As used in this Agreement, the words “include” and “including,” and variations thereof, shall not be deemed to be terms of limitation, but rather shall be deemed to be followed by the words “without limitation”. Except as otherwise indicated, all referenced in this Agreement to “Sections”, “Paragraphs”, Subparagraphs, “Exhibits”, and “Schedules” are intended to refer to Sections, Paragraphs, Subparagraphs, Exhibits and Schedules to this Agreement. All Schedules and Exhibits are integral parts of this Agreement and are incorporated into this Agreement by reference. Bold Faced headings in this Agreement are for convenience of reference only, shall not be deemed to be a part of this Agreement and shall not be deemed to be a part of this Agreement and shall not be referred to in connection with the construction or interpretation of this Agreement.

 

Notices. All notices required of permitted hereunder shall be in writing and shall be deemed to be properly given when (i) personally delivered to the party entitled to receive the notice, or (ii) when sent by certified or registered mail, postage prepaid and properly addressed to the party entitled to receive such notice, or (iii) when delivered (and receipted for) by an overnight delivery service, or (iv) when first sent by facsimile transmission, e-mail, or other means of instantaneous communication, provided such communication is promptly confirmed by personal delivery, mail or an overnight delivery service as provided for herein, addressed in each case as follows:

 

If to Jubilee:

701 S Carson St, STE 200

Carson City, NV 89701

 

 

 

 

If to Murphy:

5112 West Taft Road, Suite M,

Liverpool, NY 13088

 

If to Strickland:

120 State Ave NE, Suite 1014,

Olympia, WA 98501

 

If to Company:

5112 West Taft Road, Suite M,

Liverpool, NY 13088

 

Amendments, Waiver, Discharge, Etc. This Agreement may not be released, discharged, abandoned, changed or modified in any manner, except by an instrument in writing signed on behalf of each of the Parties hereto by their duly authorized officers or representatives. The failure of any party hereto to enforce at any time any of the provisions of this Agreement shall in no way be construed to be a waiver of any such provision, not in any way to affect the validity of this Agreement or any part thereof of the right of any Party thereafter to enforce each and every such provision. No waiver of any breach of this Agreement shall be held to be a waiver of any other or subsequent breach.

 

Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada without reference to that state’s conflict of laws provision. Venue shall be Clark County, Nevada, only.

 

Time of the Essence. Time is of the essence of this Agreement.

 

Severability. In the event that provision of this Agreement, or the application of any such provision to any person or set of circumstances, shall be determined to be invalid, unlawful, void or unenforceable to any extent, the remainder of this Agreement, and the application of such provision to persons or circumstances other than those as to which it is determined to be invalid, unlawful, void or unenforceable shall not be impaired or otherwise affected and shall continue to be valid and enforceable to the fullest extent permitted by law.

 

Effect of Transaction. The parties acknowledge that this Agreement pertains to a sale transaction and nothing herein shall be construed to create any partnership, joint venture, agency or any other type of relationship whatsoever.

 

[signatures of following page]

 

 

 

 

[Signature Page to Change of Control Agreement]

 

 

 

 

IN WITNESS WHEREFORE, each of the parties hereto have duly executed this Agreement as of the day and year below written.

 

Hallmark Venture Group, Inc.   Paul Strickland
    (individually)
       
John D. Murphy, Jr.      
Title: CEO   Title:  
Date     Date:  
         
John D. Murphy, Jr.   Beartooth Asset Holdings, LLC
(individually)      
       
    Paul Strickland
Title:     Title: Manager
Date:     Date:  
         
      Jubilee Intel, LLC
JMJ Associates, LLC      
       
    Evan Bloomberg
John D. Murphy, Jr   Title: Manager
Title: Manager   Date:  
Date:        

 

 

 

 

SCHEDULE “A”

 

Securities Held to be Transferred or Canceled Pursuant to this Agreement

 

● 75,000 Series A preferred shares held by JMJ Associates, LLC (controlled by John D. Murphy, Jr.), to be transferred to Evan Bloomberg.

 

● 25,000 Series A preferred shares held by Beartooth Asset Holdings, LLC (controlled by Paul Strickland) to be transferred to Evan Bloomberg.

 

● 98,259,679 restricted common shares held by Beartooth Asset Holdings, LLC (controlled by Paul Strickland) to be canceled / returned to Treasury.

 

Schedule “B”

 

John D. Murphy, Jr., TIN: 5112 West Taft Road, Suite M, Liverpool, NY 13088 : 5%

 

Selkirk Global Holdings, LLC EIN:, 120 State Ave NE, STE 1014, Olympia, WA 98501: 10%

 

Attachment A

Agreement and Plan of Reorganization

 

Attachment B

Escrow Agreement

 

Attachment C

Anti-Dilution Agreement

 

 

 

 

Exhibit 10.05

 

ESCROW AGREEMENT

 

THIS AGREEMENT is made as of the date last indicated below, by and between Hallmark Venture Group, Inc. (the “Company” or “HLLK”) and John D. Murphy, Jr. and JMJ Associates, LLC (collectively, “Murphy”), Paul Strickland, Selkirk Global Holdings, LLC, and (collectively, “Strickland”), and Jubilee, LLC and Evan Bloomberg (collectively, “Purchaser”) and Liberty Stock Transfer, Inc., (the “Escrow Agent”), and each shall be referred to individually as a Party and collectively the Parties, and concerns the change of control of the Company from Murphy and Strickland to Purchaser.

 

W I T N E S S E T H:

 

WHEREAS, Purchaser proposes to execute certain definitive agreements (the “Change of Control Agreement”) with Murphy and Strickland (collectively, “Seller”) to assume control of Hallmark Venture Group, Inc., a publicly-traded corporation trading under the ticker symbol “HLLK”, which requires that Purchaser place certain Membership Interest Units into an escrow account with Escrow Agent. In exchange, Seller will deliver the Series A Preferred stock, as defined in Exhibit A below, (the “CoC Shares) into an escrow account with Agent; and;

 

WHEREAS, pursuant to the terms of this Agreement, the Parties agree that Liberty Stock Transfer, Inc., shall serve as Escrow Agent for the deposit as well as depository for the CoC Shares to be delivered by Seller to Purchaser or its designee(s).

 

NOW, THEREFORE, in consideration of the covenants and mutual promises contained herein and other good and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged and intending to be legally bound hereby, the Parties agree as follows:

 

1. Purchaser shall deposit (####) Membership Interest Units into Escrow Agent’s escrow account within 3 days of the execution of this Agreement (the “Units”);

 

2. Within 3 days of signing this Agreement, Seller shall deliver to Escrow Agent original, endorsed stock certificates with executed and notarized stock powers evidencing the CoC Shares to be transferred to Purchaser;

 

3. The Units deposited with the Escrow Agent by the Purchaser will not be disbursed to Company until the CoC Shares have been transferred into Purchaser’s name at Liberty Stock Transfer.

 

4. Should the exchange described herein not be completed by August 30, 2024, unless all Parties agree to extend this Agreement, Escrow Agent shall return all property to be exchanged as described in this Agreement to the original Party, without further notice, and administrative control of the Company shall revert to Seller. The Escrow Agent may act in reliance upon any writing or instrument or signature which it, in good faith, believes to be genuine, may assume the validity and accuracy of any statements or assertion contained in such writing or instrument; and may assume that any person purporting to give any writing, notice, advice or instruction in connection with the provisions hereof has been duly authorized to do so. The Escrow Agent shall not be liable in any manner for the sufficiency or correctness as to form, manner of execution, or validity of any written instructions delivered to it, nor as to the identity, authority or rights of any person executing the same. The Escrow Agent shall not be liable for any mistakes of fact or error of judgment, or for any act or omissions of any kind unless caused by its willful misconduct or gross negligence.

 

 

 

 

5. Escrow Agent’s Fee. The Escrow fee for this agreement shall be $500.00. The Escrow Agent shall be entitled to reimbursement for any fees it incurs, including reasonable attorney’s fees, in the performance of its duties and obligations contained in this Agreement. All such costs and expenses shall be borne and divided equally between Purchaser and Seller.

 

6. This Escrow Agreement will terminate upon the transfer and delivery of the CoC shares to the Purchaser or its designee(s), the transfer of the Units to the Company.

 

7. The Escrow Agent shall have no duties or obligations other than those specifically set forth herein. The acceptance by the Escrow Agent of their duties under this Escrow Agreement is subject to the terms and conditions hereof, which shall govern and control with respect to its rights, duties, liabilities and immunities.

 

8. Purchaser and Seller understand and agree that the Escrow Agent is not a principal, participant, or beneficiary of the underlying transactions which necessitate this Escrow Agreement. The Escrow Agent shall be obligated only for the performance of such duties as are specifically set forth herein and may rely and shall be protected in acting or refraining from acting on any instrument believed by it to be genuine and to have been signed or presented by the proper party or parties, their officers, representatives or agents. So long as the Escrow Agent has acted in good faith or on the advice of counsel or has not been guilty of willful misconduct or gross negligence, the Escrow Agent shall have no liability under, or duty to inquire beyond the terms and provisions of this Escrow Agreement, and it is agreed that its duties are purely ministerial in nature.

 

9. The Escrow Agent shall not be obligated to take any legal actions hereunder which might, in the Escrow Agent’s judgment, involve any expense or liability, unless the Escrow Agent shall have been furnished with reasonable indemnity.

 

10. The Escrow Agent is not bound in any way by any other contract or agreement between the parties hereto whether or not the Escrow Agent has knowledge thereof of its terms and conditions and the Escrow Agent’s only duty, liability and responsibility shall be to hold and deal with the Escrowed Assets as herein directed.

 

11. The Escrow Agent shall not be bound by any modification, amendment, termination, cancellation, rescission or supersession of this Escrow Agreement unless the same shall be in writing and signed by all of the other parties hereto and, if its duties as Escrow Agent hereunder are affected thereby, unless it shall have given prior written consent thereto.

 

12. The parties hereto each jointly and severally agree to indemnify the Escrow Agent against, and hold the Escrow Agent harmless from anything which the Escrow Agent may do or refrain from doing in connection with his performance or non-performance as Escrow Agent under this Agreement and any and all losses, costs, damages, expenses, claims and attorneys’ fees suffered or incurred by the Escrow Agent as a result of, in connection with or arising from or out of the acts of omissions of the Escrow Agent in performance of or pursuant to this Agreement, except such acts or omissions as may result from the Escrow Agent’s willful misconduct or gross negligence.

 

 

 

 

13. Should Escrow Agent become involved in litigation or arbitration in any manner whatsoever on account of this agreement or the escrowed property, the parties hereto (other than Escrow Agent), hereby bind and obligate themselves, their successors, assigns to pay Escrow Agent, in addition to any charge made hereunder for acting as Escrow Agent, reasonable attorneys’ fees incurred by Escrow Agent, and any other disbursements, expenses, losses, costs and damages in connection with or resulting from such actions. In the event that the Escrow Agent becomes involved in litigation in connection with this Agreement, it shall have the right to retain counsel, and shall have a lien on the Escrowed Property for all reasonable and necessary costs, attorneys’ fees, charges, disbursements and expenses in connection with such litigation, and shall be entitled to reimburse itself for such expenses out of the Escrowed Property.

 

14. The Escrow Agent may resign as Escrow Agent in respect of the Escrowed Property by giving written notice to all Parties. The resignation of the Escrow Agent shall be effective, and the Escrow Agent shall cease to be bound by this Escrow Agreement, thirty (30) days following the date that notice of resignation was given.

 

15. Any notices or other communications required or permitted hereunder shall be sufficiently given if personally delivered to or sent by registered mail or certified mail, postage prepaid, or by prepaid telegram addressed as follows:

 

If to Purchaser, to:

 

701 S Carson St, STE 200

Carson City, NV 89701

Attn: Evan Bloomberg

Phone:

Email:

 

If to Murphy, to:

 

5112 West Taft Road, STE M

Liverpool, NY 13088

Phone:

Email:

     

If to Strickland, to:

 

120 State Ave NE, STE 1014

Olympia, WA 98501

Phone:

Email:

 

If to Escrow Agent, to:

 

788 Shrewsbury Ave., STE 2163

Tinton Falls, NJ 07724

Attn: Jeff English

Phone: (732) 372-0707

Email: jeff@libertystocktransfer.com

 

or such other address as shall be furnished in writing by any party in the manner for giving notices hereunder, and any such notice or communication shall be deemed to have been given as of the date so delivered or mailed.

 

16. This Escrow Agreement shall be construed according to the laws of New Jersey and the parties submit themselves to the exclusive jurisdiction of the Courts of New Jersey in the event of any dispute.

 

17. This Escrow Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, and all of which taken together shall be deemed to constitute one and the same. Facsimile copies may act as originals.

 

This Escrow Agreement is executed as of September 26, 2024.

 

[signatures on following page]

 

 

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and delivered as of the date set forth herein.

 

Hallmark Venture Group, Inc.   Selkirk Global Holdings, LLC
         
     
John D. Murphy, Jr.   Paul Strickland
Title: CEO   Title: Manager
Date     Date:  
         
John D. Murphy, Jr.   Jubilee Intel, LLC
(individually)      
       
    Evan Bloomberg
Date:     Title: Manager
      Date:  
JMJ Associates, LLC      
      Evan Bloomberg
    (individually)
John D. Murphy, Jr      
Title: Manager    
Date:     Date:  
         
Paul Strickland   Escrow Agent
(individually)   Liberty Stock Transfer, Inc.
         
     
Date:     Jeff English
      Title: President
      Date:  

 

 

 

 

Exhibit A

 

Change of Control Shares

 

Exhibit B

 

Anti-Dilution Agreement

 

 

 

 

Exhibit 10.06

 

ANTI-DILUTION AGREEMENT

 

THIS ANTI-DILUTION AGREEMENT (the “Agreement”) is dated as of September 26, 2024, and is by and among HALLMARK VENTURE GROUP, Inc., a Florida corporation (the “Company” or “HLLK”) and _________, a __________ (“HOLDER”), and Jubilee Intel, LLC, a Nevada limited liability company (“Jubilee”), each a Party and collectively the Parties.

 

WHEREAS, Pursuant to the terms and conditions of that certain Change of Control Agreement (Exhibit A herein) by and between the Company, HOLDER, and Jubilee, Jubilee intends to take control of HLLK and restructure the Company;

 

WHEREAS, as a result of Jubilee’s intended restructuring, the capitalization structure of the Company will be materially changed, and Jubilee shall then cause to issue to HOLDER 5% of the issued and outstanding common shares of the Company after the restructuring is completed (the “Stock Consideration” as defined by the Change of Control Agreement);

 

NOW, THEREFORE, in consideration of the premises and the representations, warranties, covenants and agreements contained in this Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto hereby agree as follows:

 

SECTION 1. Additional Issuances.

 

(a) At any time after the date of this Agreement, and running for a period of 18 months (“Term”), if the Company shall issue or propose to issue any additional shares of the Company’s common stock, par value, $0.001 per share (“Common Stock”), or warrants, options (excluding any options granted to employees of the Company in accordance with any employee plans, now or hereinafter in effect) or other rights or instruments of any kind convertible into or exercisable or exchangeable for shares of Common Stock (the “Additional Securities”), HOLDER shall be issued that number of additional shares of Common Stock necessary to maintain Holder’s 5% equity stake in the Company’s issued and outstanding Common Stock. Any issuance of Additional Securities made to HOLDER under this Section 1 shall be made by notice in writing (the “Issuance Notice”) at least 20 Business Days prior to the issuance of such Additional Securities. The Issuance Notice shall set forth (i) the number of Additional Securities proposed to be issued to any Person other than HOLDER and the terms of such Additional Securities, (ii) the consideration (or manner of determining the consideration), if any, for which such Additional Securities are proposed to be issued and the terms of payment, (iii) the number of Additional Securities to be issued to HOLDER in compliance with the provisions of this Section 1 and (iv) the proposed date of issuance of such Additional Securities. Not later than 5 Business Days after delivery of a Issuance Notice in accordance with the notice provisions hereof, HOLDER shall deliver a notification to the Company in writing whether it elects to accept all or any portion of the Additional Securities to be issued to HOLDER, pursuant to the Issuance Notice; provided however, that the failure of HOLDER to respond in writing within 5 Business Days shall be deemed a waiver and negative election by HOLDER to receive any of the Additional Securities offered by such Issuance Notice. If HOLDER elects to receive any such Additional Securities, the Additional Securities that it shall have elected to be issued shall be issued to HOLDER by the Company at the same time and on the same terms and conditions as the Additional Securities that are issued and sold to third parties. If, for any reason, the issuance of Additional Securities to third parties is not consummated, HOLDER’s right to its share of such issuance shall lapse, subject to HOLDER’s ongoing issuance rights with respect to issuances of Additional Securities at later dates or times.

 

 
 

 

(b) The Company represents and covenants to HOLDER that (i) upon issuance, all the shares of Additional Securities issued to HOLDER pursuant to this Section 1 shall be duly authorized, validly issued, fully paid and nonassessable and will be approved (if outstanding securities of the Company of the same type are at the time already approved) for quotation or listing on the principal trading market for the securities of the Company at the time of issuance, (ii) upon delivery of such shares, they shall be free and clear of all liens, claims and encumbrances (other than any restrictions imposed by applicable federal and state securities laws of any nature and shall not be subject to any preemptive right of any stockholder of the Company and (iii) this Section 1 does not and upon the issuance of such Additional Securities will not (a) violate or conflict with any provision of the Certificate of Incorporation or Bylaws of HLLK, each as amended then to date (b) conflict with or constitute a violation by HLLK of any applicable law (including the Florida Business Corporation Act), judgment, order, injunction, decree, rule, regulation or ruling of any governmental authority applicable to HLLK the enforcement of which would have a material adverse effect on HLLK or on HLLK’s ability to perform its obligations hereunder or the ability of HLLK to consummate issuance of the Additional Securities and (c) either alone or with the giving of notice or the passage of time, or both, modify, violate, conflict with, constitute grounds for termination of, or accelerate the performance required by, or result in a breach or default of the terms, conditions or provisions of, or constitute a default under any contract, agreement, note bond, mortgage, indenture, deed of trust, license, franchise, permit, commitment, waiver, exemption, order, obligation, lease, sublease, undertaking, agreement, offer or other instrument, which violation, conflict, termination, acceleration, breach or default would have a material adverse effect on HLLK or on the ability of HLLK to perform its obligations hereunder or the ability of HLLK to issue such shares.

 

(c) As used herein, the term “Business Day” shall mean any day other than a Saturday, Sunday, U.S. national legal holiday, or a legal holiday under the laws of the State of New York, and the term “Person” shall mean an individual, corporation, partnership, joint venture, joint stock company, association, trust, business trust, unincorporated organization, government authority, or any other entity of whatever nature.

 

(d) as used herein, the term “restructuring” and “restructure” shall mean any of the following, including, but not limited to; merger, acquisition, recapitalization, private offering, public offering, private placement, reverse split, forward split.

 

(e) If the Company, at any time while this Agreement is in force and effect, by reclassification of securities or otherwise (including, but not limited to, a “reincorporation,” merger with or into a wholly owned subsidiary of the Company, an exchange or stock swap or another type of reorganization or recapitalization), shall change or exchange its Common Stock into (or for) different securities of another class or classes or ceases to have common stock, then HOLDER’s rights hereunder shall thereafter represent the right to acquire such number and kind of securities as would have been issuable as the result of such change with respect to the securities that were subject to the Agreement immediately prior to such reclassification or other change. All such adjustments shall be made so as to equitably adjust HOLDER’s rights hereunder.

 

 
 

 

SECTION 2. Clawback Provision for Anti-Dilution Shares.

 

(a) Clawback of Anti-Dilution Shares. In the event the Company does not raise gross proceeds of at least $6,000,000 from the sale of its securities through a Tier 2 Regulation A+ offering (the “Offering”) within the twelve-month period commencing on date said offering is qualified by the Securities and Exchange Commission (“SEC”) (the “Target Capital Raise Period”), the Company shall have the right to claw back a portion or all of the shares issued to Holder under this Agreement (the “Anti-Dilution Shares”).

 

(b) Clawback Trigger and Scope. If, by the end of the Target Capital Raise Period, the Company has not raised a minimum of $1,500,000 in gross proceeds from the Offering, Section 1 of this Agreement shall be deemed null and void and the Company shall have the right to claw back 100% of the Anti-Dilution Shares that have been issued to the Holder.

 

(c) Return of Clawed Back Shares. Upon the Company’s determination that the clawback has been triggered, the Holder agrees to return to the Company the applicable number of Anti-Dilution Shares, without consideration, immediately upon written notice from the Company of the clawback determination.

 

(d) Adjustment to Share Register. Upon receipt of the clawed back Anti-Dilution Shares, the Company shall make any necessary adjustments to its share register and cancel the returned shares. In the event the Holder fails to return the shares as required, the Company may take any action reasonably necessary to effect the cancellation of the clawed back shares, including without limitation, adjusting the share ledger directly.

 

(e) No Waiver of Other Remedies. This clawback provision does not limit or waive any other remedies that the Company may have in the event of a failure by the Investor to comply with the return of shares, including legal or equitable remedies.

 

SECTION 3. Further Assurances. Each of the parties hereto agrees that, at any time and from time to time after the date hereof, it shall, upon written request from the other party hereto, and without further consideration, perform such other and further acts, and execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, such further instruments, documents and assurances as such other party reasonably may request for the purpose of carrying out this Agreement.

 

SECTION 4. Binding Agreement; Assignment. This Agreement is binding upon, will inure to the benefit of, and be enforceable by, the parties hereto and their respective heirs, successors and permitted assigns. Neither this Agreement nor any of the rights, interests or obligations under this Agreement shall be assigned, in whole or in part, by operation of law or otherwise by any of the parties hereto, without the prior written consent of the other party hereto.

 

 
 

 

SECTION 5. Entire Agreement; No Third-Party Beneficiaries. This Agreement constitutes the entire agreement and understanding of the parties hereto with respect to the subject matters hereof and thereof and supersedes any and all prior negotiations, agreements, arrangements and understandings between the parties, written or oral, relating to the matters provided for herein or therein. Except as expressly provided in this Agreement, nothing contained in this Agreement, express or implied, is intended to or shall confer on any Person other than the parties hereto and their heirs, successors and permitted assigns, any rights, benefits, remedies or claims under or by reason of this Agreement.

 

SECTION 6. Amendment; Modification. This Agreement may not be amended or modified except by an instrument in writing signed by a duly authorized officer of each of the Company and HOLDER.

 

SECTION 7. Extensions; Waivers; Remedies Cumulative.

 

(a) The conditions to each of the parties’ obligations to consummate this Agreement are for the sole benefit of such party and may be waived by such party in whole or in part to the extent permitted by applicable law. With regard to this Agreement, any party may (i) extend the time for the performance of any of the obligations or other acts of any other party with such first party, or (ii) waive compliance with any of the agreements of any party with such first party or with any conditions to its own obligations. Any agreement on the part of a party hereto to any such extension or waiver of any provision of this Agreement shall be valid and effective only if set forth in an instrument in writing signed on behalf of such party against whom enforcement of any waiver or consent is sought by such first party or a duly authorized officer thereof, if applicable.

 

(b) No failure or delay on the part of any party in exercising any right, privilege, power, or remedy under this Agreement, and no course of dealing among the parties, shall operate as a waiver of such right, privilege, power, or remedy, nor shall any single or partial exercise of any right, privilege, power, or remedy under this Agreement preclude any other or further exercise of such right, privilege, power, or remedy, or the exercise of any other right, privilege, power, or remedy. No notice to or demand on any party in any case shall entitle such party to any other or further notice or demand in any similar or other circumstances or constitute a waiver of the right of the party giving such notice or making such demand to take any other or further action in any circumstances without notice or demand.

 

SECTION 8. Section Headings; Interpretation. Reference in this Agreement to a Section unless otherwise indicated, shall constitute references to a Section or an Article of this Agreement. The section headings contained in this Agreement are for convenience of reference only and do not form a part thereof and shall not affect in any way the meaning or interpretation of this Agreement. The parties hereto agree that this Agreement is the product of negotiations among sophisticated parties, all of whom were represented by counsel, and each of whom had an opportunity to participate in, and did participate in the drafting of each provision hereto. Accordingly, ambiguities in this Agreement, if any, shall not be construed strictly against any party hereto but rather shall be given a fair and reasonable construction without regard to the rule of contra proferentem.

 

 
 

 

SECTION 9. Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Nevada applicable to agreements made and to be performed entirely within the State of Nevada without giving effect to the laws that might otherwise govern under applicable principles of conflict of laws thereof.

 

SECTION 10. Notices. Any notice, demand, claim, request, waiver or consent or other communication required or permitted to be given under the provisions of this Agreement shall be in writing and shall be deemed to have been duly delivered if delivered by any of the following means of delivery, and shall be deemed to have been duly delivered and received on the date (or the next Business Day if delivery is not made on a Business Day) of personal delivery or facsimile transmission or on the date (or the next Business Day if delivery is not made on a Business Day) of receipt, if mailed by registered or certified mail, postage prepaid and return receipt requested, or on the date (or the next Business Day if delivery is not made on a Business Day) of a stamped receipt, if sent by an overnight delivery service, and sent to the following addresses (or to such other address as any party may request, in the case of the Company, by notifying HOLDER, and in the case of HOLDER, by notifying the Company in each case in accordance with this Section):

 

  (a)

If to the Company:

Hallmark Venture Group, Inc.

5112 West Taft Road, Suite M

Liverpool, NY 13088

 
    Attn:    
    Email:    

 

  (b) If to HOLDER:  
       
       
    Attn:    
    Email:    

 

SECTION 11. Consent to Jurisdiction. Each of the parties agrees to submit itself to the jurisdiction of any state or federal court sitting in the State of Nevada. In addition, each of the parties hereto agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court, and that it will not bring any action relating to this Agreement or any of the transactions contemplated by this Agreement in any court other than such court.

 

SECTION 12. Severability. The parties agree that (i) the provisions of this Agreement shall be severable in the event that any of the provisions hereof are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable, (ii) they shall negotiate in good faith to replace any provisions that are finally determined to be invalid, void or otherwise unenforceable with other provisions that are as similar as possible in terms to such invalid, void or otherwise unenforceable provisions but are valid and enforceable, and (iii) the balance of this Agreement shall not be affected and shall remain enforceable to the fullest extent permitted by law. Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be valid and shall be enforced to the fullest extent permitted by law.

 

SECTION 13. Counterparts. This Agreement may be executed in one or more counterparts, each of which when executed and delivered shall be deemed an original, and all of which when taken together shall be considered one and the same instrument, and this Agreement shall become effective when such counterparts have been signed by each of the parties hereto and delivered to the other parties. The parties hereto agree that signatures of the parties and their duly authorized officers may be exchanged by facsimile transmission, and that such signatures shall be binding to the same extent, and have the same force and effect, as the exchange of original written signatures. The originals of such signatures shall be sent to the other parties hereto by overnight courier.

 

[Remainder of this page intentionally left blank]

 

 
 

 

This Agreement has been duly executed by an authorized officer by each of the following parties as of the date first set forth above.

 

Sincerely,  
   
HALLMARK VENTURE GROUP, INC.  
BOARD OF DIRECTORS  
     
By:    
Name:    
Title:    

 

Accepted and agreed to

this 26th day of September 2024

 

HOLDER  
     
By:    
Name:    
Title:    

 

Jubilee Intel, LLC  
   
By:    
Name: Evan Bloomberg  
Title: Manger  

 

 
 

 

Exhibit A: Change of Control Agreement

 

 

 

 

Exhibit 10.07

FORM OF DEBT CANCELLATION AGREEMENT

 

Debt Cancellation Agreement

Hallmark Venture Group, Inc.

5112 West Taft Road, Suite M,

Liverpool, NY 13088

Telephone: 877-646-4833

Email: jmurphy@hallmarkre.com

 

Re: Debt Cancellation Agreement (this “Letter”).

 

Reference is made to that certain 10% Convertible Promissory Note Issued by the Company on October 6, 2022 (the “NOTE”) by and among Hallmark Venture Group Inc., a Florida corporation, whose principal executive offices are located at 5112 West Taft Road, Suite M, Liverpool, NY 13088 (the “Company”), Selkirk Global Holdings, LLC (the “Holder”), with an office located at 120 State Ave. NE, Ste 1014, Olympia, WA 98501. As of the date last written below, the remaining NOTE balance is $46,993.60 of principal and accrued interest (“Remaining Note Balance”).

 

The undersigned Assignee and the Company hereby agree as follows:

 

  1. As of the date last written below, the Assignee shall consider the NOTE paid in full and forego payment of the Remaining Note Balance.
     
  2. No additional payments pursuant to the NOTE shall be due by Company to Assignee.
     
  3. Release. The undersigned, jointly and severally, for themselves and each of their present and former, direct and/or indirect, parents, subsidiaries, Affilates, attorneys, agents, representatives, employees, consultants, brokers, officers, directors, equity and/or debt holders, managers, members, successors, predecessors, heirs and assigns (collectively the “Releasors”), hereby expressly and irrevocably release, waive and forever discharge and hold harmless each of the Company, the Assignee, each of the undersigned and each of all of their respective present and former, direct and/or indirect, parents, subsidiaries, affiliates, attorneys, agents, representatives, employees, consultants, brokers, officers, directors, equity and/or debt holders, managers, members, successors, predecessors, and assigns (collectively, the “Released Parties”) from any and all actions, causes of action, suits, losses, liabilities, rights, debts, dues, sums of money, accounts, reckonings, obligations, costs, expenses, liens, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, and demands, of every kind and nature whatsoever, whether now known or unknown, suspected or unsuspected, foreseen or unforeseen, matured or unmatured, suspected or unsuspected, in law, admiralty or equity, which any of the Holder Releasors ever had, now have, or hereafter can, shall, or may have against any of the Holder Released Parties from the beginning of time through and including the date hereof, respecting the matters covered hereby or in any way related to the NOTE assuming the closing of this Agreement.

 

 
 

 

  4. Governing Law. This Agreement and the terms and conditions set forth herein, shall be governed by and construed solely and exclusively in accordance with the internal laws of the State of NEVADA without regard to the conflicts of laws principles thereof. The parties hereto hereby expressly and irrevocably agree that any suit or proceeding arising directly and/or indirectly pursuant to or under this Agreement shall be brought solely in a federal or state court located in CLARK County, Nevada. By its execution hereof, the parties hereto covenant and irrevocably submit to the in personam jurisdiction of the federal and state courts located in Clark County and the State of Nevada and agree that any process in any such action may be served upon any of them personally, or by certified mail or registered mail upon them or their agent, return receipt requested, with the same full force and effect as if personally served upon them in Nevada. The parties hereto expressly and irrevocably waive any claim that any such jurisdiction is not a convenient forum for any such suit or proceeding and any defense or lack of in personam jurisdiction with respect thereto. In the event of any such action or proceeding, the party prevailing therein shall be entitled to payment from the other parties hereto of all of its reasonable counsel fees and disbursements.
     
  5. Counterparts. This Letter may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and shall become effective when such counterparts have been signed by each party and delivered to the other parties; provided that a facsimile signature shall be considered due execution and shall be binding upon the signatory thereto with the same force and effect as if the signature were an original, not a facsimile, signature.

 

[ACKNOWLEDGMENT SIGNATURE PAGES TO FOLLOW]

 

 
 

 

[ACKNOWLEDGMENT SIGNATURE PAGE TO

 

DEBT CANCELLATION AGREEMENT/ PAY-OFF LETTER]

 

Agreed and Acknowledged:

 

COMPANY:   HOLDER:
         
Hallmark Venture Group, Inc.   SELKIRK GLOBAL HOLDINGS, LLC
         
By:     By:  
Name: John D. Murphy, Jr.   Name: Paul Strickland
Title: CEO   Title: Manager
Date: 9/  /2024   Date: 9/  /2024

 

 

 

 

Exhibit 10.08

 

FORM OF DEBT CANCELLATION AGREEMENT

 

Debt Cancellation Agreement

 

Hallmark Venture Group, Inc.

5112 West Taft Road, Suite M,

Liverpool, NY 13088

Telephone: 877-646-4833

Email: jmurphy@hallmarkre.com

 

Re: Debt Cancellation Agreement (this “Letter”).

 

Reference is made to that certain 10% Convertible Promissory Note Issued by the Company on April 6, 2023 (the “NOTE”) by and among Hallmark Venture Group Inc., a Florida corporation, whose principal executive offices are located at 5112 West Taft Road, Suite M, Liverpool, NY 13088 (the “Company”), Selkirk Global Holdings, LLC (the “Holder”), with an office located at 120 State Ave. NE, Ste 1014, Olympia, WA 98501. As of the date last written below, the remaining NOTE balance is $31,602.73 of principal and accrued interest (“Remaining Note Balance”).

 

The undersigned Assignee and the Company hereby agree as follows:

 

1.As of the date last written below, the Assignee shall consider the NOTE paid in full and forego payment of the Remaining Note Balance.
   
2.No additional payments pursuant to the NOTE shall be due by Company to Assignee.
   
3.Release. The undersigned, jointly and severally, for themselves and each of their present and former, direct and/or indirect, parents, subsidiaries, Affilates, attorneys, agents, representatives, employees, consultants, brokers, officers, directors, equity and/or debt holders, managers, members, successors, predecessors, heirs and assigns (collectively the “Releasors”), hereby expressly and irrevocably release, waive and forever discharge and hold harmless each of the Company, the Assignee, each of the undersigned and each of all of their respective present and former, direct and/or indirect, parents, subsidiaries, affiliates, attorneys, agents, representatives, employees, consultants, brokers, officers, directors, equity and/or debt holders, managers, members, successors, predecessors, and assigns (collectively, the “Released Parties”) from any and all actions, causes of action, suits, losses, liabilities, rights, debts, dues, sums of money, accounts, reckonings, obligations, costs, expenses, liens, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, and demands, of every kind and nature whatsoever, whether now known or unknown, suspected or unsuspected, foreseen or unforeseen, matured or unmatured, suspected or unsuspected, in law, admiralty or equity, which any of the Holder Releasors ever had, now have, or hereafter can, shall, or may have against any of the Holder Released Parties from the beginning of time through and including the date hereof, respecting the matters covered hereby or in any way related to the NOTE assuming the closing of this Agreement.
   
4.Governing Law. This Agreement and the terms and conditions set forth herein, shall be governed by and construed solely and exclusively in accordance with the internal laws of the State of NEVADA without regard to the conflicts of laws principles thereof. The parties hereto hereby expressly and irrevocably agree that any suit or proceeding arising directly and/or indirectly pursuant to or under this Agreement shall be brought solely in a federal or state court located in CLARK County, Nevada. By its execution hereof, the parties hereto covenant and irrevocably submit to the in personam jurisdiction of the federal and state courts located in Clark County and the State of Nevada and agree that any process in any such action may be served upon any of them personally, or by certified mail or registered mail upon them or their agent, return receipt requested, with the same full force and effect as if personally served upon them in Nevada. The parties hereto expressly and irrevocably waive any claim that any such jurisdiction is not a convenient forum for any such suit or proceeding and any defense or lack of in personam jurisdiction with respect thereto. In the event of any such action or proceeding, the party prevailing therein shall be entitled to payment from the other parties hereto of all of its reasonable counsel fees and disbursements.
   
5.Counterparts. This Letter may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and shall become effective when such counterparts have been signed by each party and delivered to the other parties; provided that a facsimile signature shall be considered due execution and shall be binding upon the signatory thereto with the same force and effect as if the signature were an original, not a facsimile, signature.

 

[ACKNOWLEDGMENT SIGNATURE PAGES TO FOLLOW]

 

 
 

 

[ACKNOWLEDGMENT SIGNATURE PAGE TO

 

DEBT CANCELLATION AGREEMENT/ PAY-OFF LETTER]

 

Agreed and Acknowledged:

 

COMPANY:   HOLDER:
     
Hallmark Venture Group, Inc.   SELKIRK GLOBAL HOLDINGS, LLC
     
By:     By:  
Name: John D. Murphy, Jr.   Name: Paul Strickland
Title: CEO   Title: Manager
Date: 9/ /2024   Date: 9/ /2024

 

 

 

 

Exhibit 10.09

 

FORM OF DEBT CANCELLATION AGREEMENT

 

Debt Cancellation Agreement

 

Hallmark Venture Group, Inc.

5112 West Taft Road, Suite M,

Liverpool, NY 13088

Telephone: 877-646-4833

Email: jmurphy@hallmarkre.com

 

Re: Debt Cancellation Agreement (this “Letter”).

 

Reference is made to that certain 0% Convertible Exchange Note Issued by the Company on December 12, 2023 (the “NOTE”) by and among Hallmark Venture Group Inc., a Florida corporation, whose principal executive offices are located at 5112 West Taft Road, Suite M, Liverpool, NY 13088 (the “Company”), and Paul Strickland (the “Holder”), with an office located at 120 State Ave. NE, Ste 1014, Olympia, WA 98501. As of the date last written below, the remaining NOTE balance is $7,119.00 of principal and accrued interest (“Remaining Note Balance”).

 

The undersigned Assignee and the Company hereby agree as follows:

 

1.As of the date last written below, the Assignee shall consider the NOTE paid in full and forego payment of the Remaining Note Balance.
   
2.No additional payments pursuant to the NOTE shall be due by Company to Assignee.
   
3.Release. The undersigned, jointly and severally, for themselves and each of their present and former, direct and/or indirect, parents, subsidiaries, Affilates, attorneys, agents, representatives, employees, consultants, brokers, officers, directors, equity and/or debt holders, managers, members, successors, predecessors, heirs and assigns (collectively the “Releasors”), hereby expressly and irrevocably release, waive and forever discharge and hold harmless each of the Company, the Assignee, each of the undersigned and each of all of their respective present and former, direct and/or indirect, parents, subsidiaries, affiliates, attorneys, agents, representatives, employees, consultants, brokers, officers, directors, equity and/or debt holders, managers, members, successors, predecessors, and assigns (collectively, the “Released Parties”) from any and all actions, causes of action, suits, losses, liabilities, rights, debts, dues, sums of money, accounts, reckonings, obligations, costs, expenses, liens, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, and demands, of every kind and nature whatsoever, whether now known or unknown, suspected or unsuspected, foreseen or unforeseen, matured or unmatured, suspected or unsuspected, in law, admiralty or equity, which any of the Holder Releasors ever had, now have, or hereafter can, shall, or may have against any of the Holder Released Parties from the beginning of time through and including the date hereof, respecting the matters covered hereby or in any way related to the NOTE assuming the closing of this Agreement.

 

 

 

 

4.Governing Law. This Agreement and the terms and conditions set forth herein, shall be governed by and construed solely and exclusively in accordance with the internal laws of the State of NEVADA without regard to the conflicts of laws principles thereof. The parties hereto hereby expressly and irrevocably agree that any suit or proceeding arising directly and/or indirectly pursuant to or under this Agreement shall be brought solely in a federal or state court located in CLARK County, Nevada. By its execution hereof, the parties hereto covenant and irrevocably submit to the in personam jurisdiction of the federal and state courts located in Clark County and the State of Nevada and agree that any process in any such action may be served upon any of them personally, or by certified mail or registered mail upon them or their agent, return receipt requested, with the same full force and effect as if personally served upon them in Nevada. The parties hereto expressly and irrevocably waive any claim that any such jurisdiction is not a convenient forum for any such suit or proceeding and any defense or lack of in personam jurisdiction with respect thereto. In the event of any such action or proceeding, the party prevailing therein shall be entitled to payment from the other parties hereto of all of its reasonable counsel fees and disbursements.
   
5.Counterparts. This Letter may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and shall become effective when such counterparts have been signed by each party and delivered to the other parties; provided that a facsimile signature shall be considered due execution and shall be binding upon the signatory thereto with the same force and effect as if the signature were an original, not a facsimile, signature.

 

[ACKNOWLEDGMENT SIGNATURE PAGES TO FOLLOW]

 

 

 

 

[ACKNOWLEDGMENT SIGNATURE PAGE TO

 

DEBT CANCELLATION AGREEMENT/ PAY-OFF LETTER]

 

Agreed and Acknowledged:

 

COMPANY:   HOLDER:
         
Hallmark Venture Group, Inc.   Paul Strickland
         

By:

   

By:

 
Name: John D. Murphy, Jr.   Name: Paul Strickland
Title:

CEO

  Title:  
Date:     Date:  

 

 

 

 

Exhibit 10.10

 

RESIGNATION AS DIRECTOR

 

September 27, 2024

 

[Via Email]

 

Hallmark Venture Group, Inc.

5112 West Taft Rd.

Suite M

Liverpool, NY 13088

 

To the Board of Directors:

 

RE: Resignation serving as Director & CEO

 

I hereby submit my resignation serving as a Director and CEO of Hallmark Venture Group, Inc. effective immediately.

 

/s/ John D. Murphy, Jr.  
John D. Murphy, Jr.  

 

Notary Area:

 

State of ___________ County of ___________

 

Subscribed and Sworn to before me this ___ day of _______ 2024 by;___________________

 

   
   
Notary Signature  
   
Notary Stamp (seal)