UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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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) October 15, 2018 (October 4, 2018)
MJ BIOTECH, INC.
(Exact name of registrant as specified in its charter)
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Wyoming |
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000-54616 |
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45-2282672 |
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(State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
109 East 17 th Street, Suite 80
Cheyenne, Wyoming 82001
(Address of principal executive offices, including zip code)
(561) 523-3830
(Registrant ’ s telephone number, including area code)
(Former name or former address, if changed since last report)
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 (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
The Company executed a non-binding Letter of Intent to acquire an operating Cannabis Farm located in Oregon. The Letter of Intent was accepted by the current owners of the Cannabis Farm.
Closing as proposed in the Letter of Intent is subject to due diligence and regulatory approval.
Purchase Price: $130,000.00
Anticipated closing: 90 days or sooner.
Purchase Price includes the following:
All Licenses issued by the State of Oregon which is currently a 5,000+ SQ FT license ready for upgrade to 20,000/40,000 SQFT, (subject to approval by the regulating authorities of MJB or its nominee).
Item 9.01 Exhibits.
99.01 Letter of Intent (redacted)
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.
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MJ BIOTECH, INC |
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Dated October 15, 2018 |
By: |
/s/ Maxine Pierson |
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Maxine Pierson |
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Chief Executive Officer |
Exhibit 99.01
Letter of Intent
THIS LETTER OF INTENT (the “Letter”) made as of this 4th day of October 2018 (the “Execution Date”),
BETWEEN:
_________________________________Oregon, _____________(“CF”) and
MJ Biotech, Inc of 109 East 17 th Street, Suite 80, Cheyenne, WY (“MJB”)
(individually the “Party” and collectively the “Parties”)
BACKGROUND:
This non-binding Letter of Intent outlines MJBs intent of purchasing the operating business referred to as CF.
Purchase Price $130,000
Term of Escrow 90 days or sooner.
Purchase Price includes the following:
All Licenses issued by the State of Oregon which is currently a 5,000+ SQFT license ready for upgrade to 20,000/40,000 SQFT, (subject to approval by the regulating authorities of MJB or its nominee),
1. Current Harvest (if any) at the close of Escrow
2. All Equipment required to operate the grow business
3. 2,000 SQFT light deprivation greenhouse which allows a harvest 3 to 4 times a year
4. 600 plants which have rare genetics that produce heavy yields
5. 2 acres of fenced off licensed growing area ready for expansion
6. 15-acre tax lot bordered by a river with a creek that flows all year
7. Rent on property includes the use of 4 BDRM 2 BTH house
8. 320 SQFT drying room
9. 64 SQFT Security room which contains state of the art security system which includes camera, alarm, and internet systems
10. Irrigation system including a 2500-gallon water tank
11. 1989 Ford F-150 farm truck.
Subject to:
Confirmation that current lease 10-year lease can be assigned to MJB and or its nominee.
That MJB and or its nominee is approved for the State License which is required to grow cannabis in the state of Oregon.
NON-BINDING
This Letter does not create a binding agreement between the Parties and will not be enforceable. Only the future Escrow agreement, duly executed by the Parties, will be enforceable as defined in such by the terms of the Escrow agreement.
Read and agree to as of this date
Date October 4, 2018 Date__________________2018
By; /s/ Maxine Pierson By; ______________________________
Maxine Pierson CEO of MJ Biotech, Inc. Title: Owner
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