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

 

April 19, 2023

Date of Report (Date of earliest event reported)

 

000-52952

Commission File Number

 

Freedom Holdings, Inc. aka Freedom Acquisition Corp.

(Exact name of registrant as specified in its charter)

 

Florida

 

56-2560951

(State or other jurisdiction of incorporation or organization)

 

(IRS Employer Identification No.)

 

 

 

10524 Independence Ave. Chatsworth, CA

 

91311

(Address of principal executive offices)

 

(Zip Code)

 

813-699-4098

(Registrant's telephone number, including area code)

 

N/A

 (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):

 

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: None

 

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

 

 

 

 

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 a Material Definitive Agreement

 

On April 19, 2023 the Company entered into a Definitive Agreement with Villa Flora, Inc. The Agreement calls for

 

 

a.

Freedom to purchase 100% of Village Flora, Inc. with the issuance Freedom 200,000 common shares @ $2.00 per share for a total value of $400,000.00.

 

b.

Village Flora shall become a wholly owned subsidiary of Freedom.

 

c.

Village Flora holds two fully up to date Cannabis Licenses, with an estimated worth of $1.5 Million. As a wholly owned subsidiary of Freedom the Licenses will become an asset of the company

 

 

1)  

License #1 – License Number: CDPH-10003635 License Type: Provisional Type 6: Non-Volatile Solvent Extraction

 

2)  

License #2 – License Number: C11-0000438-LIC License Type: Provisional Distributor

 

Item 8.01. Other Events

 

On April 20, 2023 a press release was issued to announce the acquisition of Villa Flora

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits. The following exhibit is filed with this Current Report on Form 8-K:

 

Exhibit No.

 

Description

10.1

 

Definitive Agreement dated April 19, 2023

99.1

 

Press Release dated April 20, 2023

104

 

Cover Page Interactive Date File (embedded within the Inline XBRL Document)

 

 

2

 

    

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: April 25, 2023

By:

/s/ John Vivian

 

 

 

John Vivian

 

 

 

CEO

 

                                                                                                                                                                                                                    

 

3

 

EXHIBIT 10.1

  

FREEDOM HOLDINGS, INC. aka

Freedom Acquisition Corp,

Mr. John Vivian, CEO

21605 Independence Ave.

Chatsworth, CA 91311

 

March 28, 2023

 

Jennifer Moon

 

Re: Binding Definitive Stock Exchange Agreement

 

This Binding Definitive Stock Exchange Agreement (“Agreement”) memorializes the principal terms upon which Freedom Holdings, Inc aka Freedom Acquisition Corp, a Florida corporation (the “Buyer or FHLD”), agrees to purchase 100% of the stock of VILLAGE FLORA, INC. a California corporation (the Company or VFI) from Jennifer Moon (the “Seller”) in exchange for 200,000 (Two Hundred Thousand) shares of Freedom Holdings, Inc. (“FHLD”) common stock as of the date of this agreement at the closing of the Transaction (the “Closing”), and on the terms and subject to all the conditions of this Agreement VILLAGE FLORA, INC. shall become a wholly owned subsidiary of Buyer (the “Acquisition”).

 

Upon execution of this Agreement, the Parties shall work in good faith to complete the Acquisition, including by meeting the following interim goals:

 

(1) the Company shall promptly make its information and personnel available for Buyer’s due diligence review.

 

(2) The Parties shall seek approval for the Acquisition, based on this Agreement and the final forms of the other transaction documents, from their respective boards or other governing bodies or persons, no later than April 15, 2023.

 

(5) Subject to the satisfaction of the closing conditions in the Agreement, the Parties shall close the Acquisition.

 

Principal Terms of Acquisition

 

Buyer

 

Freedom Holdings, Inc. aka Freedom Acquisition Corp a Florida Corporation (“FHLD or the Buyer”).

 

Seller/Company

 

Jennifer Moon (“Seller”)

owner of 100% of VILLAGE FLORA, INC. a California corporation (the “Company or VFI”)

 

 
Page 1 of 4

 

 

Acquisition

 

Buyer shall acquire 100% of common stock of the Company (the “Acquisition Shares”) for 200,000 (Two Hundred Thousand) shares of Freedom Holdings, Inc. (“FHLD”) common stock (the “Purchase Price”) @ $2.00 per share.

 

 

 

 

1.

Upon the consummation of the Acquisition, the Company will become a majority owned subsidiary of Buyer.

 

2.

Upon the Closing, 100% of the Shares of the Company shall be owned by the Buyer or its assigns free and clear of any and all liens or debt.

 

3.

Immediately and simultaneously with the Closing, the Company shall appoint Richard Volpe as Chairman of the Board of Directors of VFI and accept the immediate resignation of Jennifer Moon as CEO and Director of the Company

 

4.

The parties acknowledge that the Acquisition Shares will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws and will be subject to significant restrictions on transfer. The Seller acknowledges and agrees that it and the beneficial owners of the Shares will have no right to sell, assign, pledge, hypothecate, distribute (as a dividend or otherwise), transfer or otherwise dispose of or encumber the Shares (except by will or by the laws of descent and distribution), unless Buyer shall first have been provided with an opinion of counsel satisfactory to Buyer that such sale is exempt from such registration under the Securities Act and any applicable federal and state securities laws. The Shares will be subject for a six (6) months lock-up period starting on the effective date of the definitive agreement.

 

 

5.

Seller acknowledges that VFI is the rightful owner of the licenses as further described herein attached as Exhibits A and B issued by the California Department of Cannabis Control and that Seller is the rightful owner of and has the right to exchange the shares of VFI.

 

Good Faith Efforts

 

The Seller agrees to make available all information that Buyer requires to complete its Due Diligence of VFI’s representations regarding the licenses as further described herein attached as Exhibits A, B and C.

 

Confidentiality

 

The existence of this Agreement and the contents hereof, as well as all mutually discussed, projections, forecasts, technology, processes, management, related entities, shareholders, members, and other materials relating to any of the parties, or their subsidiaries and other affiliates shall all be treated as confidential information by the parties and shall not be disclosed or used by any party without the written consent of the other party. The parties shall cause their affiliates to observe the confidentiality provided for in this Agreement. For the avoidance of doubt, the parties may disclose such information (a) to such party’s bankers and other financing sources, employees and professional advisors, in each case under a confidential relationship, in connection with the Acquisition, and (b) if required pursuant to any court order, investigation by a governmental or regulatory entity, and any applicable law or regulation (including applicable securities laws and regulations and rules promulgated thereunder), and if such disclosure is required, the party from whom such disclosure is sought will, if practicable, (i) request that the subject matter to be disclosed be kept confidential and not used for any purpose, (ii) to the extent permitted by law, give reasonable advance notice in writing to the other party that such disclosure has been required, (iii) to the extent permitted by law, make such disclosure as late as legally permissible (as determined by the party making such disclosure upon the advice of its counsel), and (iv) limit the information to be disclosed to that which is required to be disclosed.

 

 
Page 2 of 4

 

 

Miscellaneous (Binding Terms)

 

This Agreement supersedes and replaces in its entirety any oral or written agreement between the Company, Seller and Buyer relating to the subject matter hereof.  No binding agreement providing for the Acquisition has been deemed to exist unless and until a Definitive Agreement between Buyer and the Company is executed and delivered, and unless and until a Definitive Agreement is executed and delivered, none of the Parties will have any legal obligation to any other party of any kind with respect to the Acquisition or otherwise; except that the terms herein in the sections entitled Due Diligence, Exclusivity and Operations during the Exclusivity Period, Confidentiality, Expense Reimbursement, Termination and Miscellaneous shall be legally binding upon the Parties.

 

If any of the foregoing binding terms of this Agreement, as applied in any circumstance, shall be adjudged by a court to be invalid or unenforceable, the same shall in no way affect any other provision of this Agreement, the application of such provision in any other circumstance, or the validity or enforceability of the remaining binding terms of this Agreement.

 

This Agreement shall be governed by Florida law, without reference to conflicts of law’s provisions thereof.

 

{The Remainder of Page Intentionally Left Blank. Signature Page Follows}

 

 
Page 3 of 4

 

 

We look forward to consummating this transaction as soon as possible. If the foregoing terms and conditions are acceptable, please sign below and return to us.

 

This agreement shall be declared effective on the date fully executed below.

 

 

Sincerely,

 

 

 

 

 

FREEDOM HOLDINGS, INC. aka

 

 

Freedom Acquisition Corp

 

 

 

 

 

/s/ John Vivian

 

 

Chief Executive Officer

 

 

Date: 4-19-2023

 

   

Acknowledged and agreed to be

Legally binding the on the Seller as set forth herein:

 

/s/ Jennifer Moon

Date: 4-19-2023

 

 
Page 4 of 4

 

EXHIBIT 99.1

  

Freedom Holdings Embarks on New Business Focus

 

Chatsworth, CA – April 20, 2023 – Freedom Holdings, Inc. aka Freedom Acquisition Corp ("FHLD" the "Company," OTC: FHLD) is pleased to announce new management has completed its first purchase agreement evidencing the Company’s commitment to the new business focus in the Cannabis industry.

 

The Company has entered into a Binding Stock Exchange Agreement with Village Flora, Inc., a California Corporation. The Agreement calls for:

 

 

a.

Freedom to purchase 100% of Village Flora, Inc. with the issuance Freedom 200,000 common shares @ $2.00 per share for a total of $400,000.00 in value.

 

b.

Villa Flora shall become a wholly owned subsidiary of Freedom.

 

c.

Village Flora holds two fully up to date Cannabis Licenses, with an estimated worth of $1.5 Million. As a wholly owned subsidiary of Freedom the Licenses will become an asset of the company.

 

d.

License #1 – Delivery Service

 

e.

License #2 – Supports the oil extraction process that will be used to promote the Company’s medical research.

 

The Company is also happy to further announce that it has entered negotiations with additional cannabis related companies to acquire and merge under the freedom umbrella. We look forward to continuing to grow the business plan and building shareholder value.

 

Press Release Contact:

John Vivian

CEO

Freedom Holdings, Inc.

813-699-4098

 

Safe Harbor Statement

This press release contains statements which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief, or current expectations of the Company, members of its management, and assumptions on which such statements are based. We caution prospective investors that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements.