Zeo ScientifiX, Inc 8-K, filed Aug 9, 2023
Zeo ScientifiX, Inc. (ZEOX)
About this 8-K
Zeo ScientifiX, Inc filed this 8-K on August 9, 2023, reporting on events of August 7, 2023.
Items reported
- Item 2.01: Completed an acquisition or sale of assets
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
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As used in this Current Report on Form 8-K (this “Report”), and unless otherwise indicated, the terms “the Company,” “Organicell,” “we,” “us” and “our” refer to Organicell Regenerative Medicine, Inc. and its subsidiaries.
Item 2.01 Completion of Acquisition or Disposition of Assets.
Effective, August 7, 2023, the Company sold its Basalt, Colorado laboratory facility (the “Laboratory”) to a non-affiliated third party purchaser (“Purchaser”). The transaction included the assignment of the leases for the Laboratory premises and certain laboratory equipment and the sale of leasehold improvements and inventory. The purchase price paid was $1,250,000 plus the assumption by Purchaser of all remaining financial and other obligations under the leases for the Laboratory premises and certain laboratory equipment. In addition, Organicell and Purchaser entered into a distribution agreement, pursuant to which Purchaser will become a non-exclusive distributor of Organicell’s products and a commission agreement, pursuant to which Organicell may become entitled to certain payments from Purchaser in connection with transactions by it with specified third parties.
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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: August 9, 2023 | ORGANICELL REGENERATIVE MEDICINE, INC. | |
| By: | /s/ Harry Leider | |
| Harry Leider, M.D. | ||
| Chief Executive Officer | ||
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