Cannapharmarx, Inc 8-K, filed Jul 16, 2021
Cannapharmarx, Inc. (CPMD)
About this 8-K
Cannapharmarx, Inc filed this 8-K on July 16, 2021, reporting on events of July 13, 2021.
Items reported
- Item 1.01: Entered into a material agreement
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
U.S. 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):
July 13, 2021
Cannapharmarx, Inc.
(Exact name of small business issuer as specified in its charter)
| Delaware | 333-256123 | 24-4635140 |
|
(State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer ID No.) |
3600
888-3rd Street SW
Calgary, Alberta, Canada T2P5C5
(Address of principal executive offices)
(949) 652-6838
(Issuer’s Telephone Number)
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:
None
Securities registered pursuant to Section 12(g) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock | CPMD | OTC Pink Sheets |
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 12b2 of the Securities Exchange Act of 1934 (§240.12b2 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 |
CannaPharmaRx, Inc. (the “Company”) consummated the sale of its Hanover, Ontario facility for Two Million Canadian Dollars ($2,000,000 CAD). The Hanover facility includes ten acres of land and 48,800 square feet of growing space.
| Item 7.01 | Regulation FD Disclosure |
Attached is a copy of a press release being issued by the Company relating to the Purchase and Sale Agreement, a copy of which is attached as Exhibit 99.6 and is hereby incorporated.
| Item 9.01. | Financial Statements and Exhibits. |
(c) Exhibits.
| Number | Exhibit |
| 99.1 | Press Release |
| 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: July 16, 2021 |
CANNAPHARMARX, INC. | |
| By: /s/ Dominic Colvin | ||
| Chief Executive Officer |
| 3 |
Exhibit 99.1
CannaPharmaRX, Inc. Closes Sale of Hanover Facility for $2,000,000 CAD
CALGARY, AB / ACCESSWIRE / July 13, 2021 / CannapharmaRx, Inc. (OTC PINK:CPMD), a future leader in ultramodern, highly efficient cannabis production facilities in Canada, announced today the sale of its Hanover, Ontario facility for $2,000,000 CAD. The Hanover facility includes ten acres of land and 48,800 square feet of growing space. The decision to sell the Hanover facility was made because of the more technologically advanced facilities being considered for purchase. This sale was unanimously agreed upon by senior management as being best for the company and its stakeholders.
'Eliminating debt and liabilities through the sale of this facility will vastly improve the bottom line of our balance sheet," said Nick Colvin, CEO of CannapharmaRx.
About CannapharmaRx, Inc.
CannapharmaRx is focused on the acquisition and development of state-of-the-art cannabis grow facilities in Canada. CPMD is in discussion
with other companies regarding potential acquisitions. CannapharmaRx's business strategy is to become a leader in high quality and low-cost
production of cannabis through the development, acquisition, and enhancement of existing facilities. CannapharmaRx is committed to operating
high-quality facilities utilizing the latest technology in combined heat and power generation to ensure being a low-cost producer of cannabis.
Safe Harbor Statement
Cautionary Note Regarding Forward-Looking Information
or Statements
This press release contains forward-looking information or statements. All statements that are or information which is not historical
facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions,
expectations, or beliefs of future performance, are 'forward-looking information or statements.' Forward-looking information or statements
can be identified by the use of words such as 'plans,' 'expects,' or 'does not expect,' 'is expected,' 'estimates,' 'intends,' 'anticipates,'
or 'does not anticipate,' or 'believes,' or variations of such words and phrases or statements that certain actions, events or results
'may,' 'could,' 'would,' 'might' or 'will' be taken, occur or be achieved. With respect to forward-looking information and statements
contained herein, Management of CannapharmaRx has made numerous assumptions, including, among other things, assumptions about general
business and economic conditions. Such forward-looking statements are based on assumptions and involve known and unknown risks, uncertainties,
and other factors that may cause actual results, events, or developments to be materially different from any future results, events, or
developments expressed or implied by such forward-looking information or statements. Readers are cautioned not to place undue reliance
on such forward-looking information or statements. There can be no assurance that forward-looking statements will prove to be accurate,
as actual results and future events could differ materially from those anticipated in forward-looking information or statements. CannapharmaRx
assumes no obligation to update any forward-looking information or statements, even if new information becomes available as a result of
future events, new information, or for any other reason except as required by law.
Contact Information:
CannaPharmaRx Contact
Attention:
Ness Capital & Consulting
nesscapconsult@gmail.com
(857) 226-3917
Brokers and Analysts:
Chesapeake Group
(410) 825-3930
SOURCE: CannapharmaRX