Current Report Filing (8-k)
June 03 2021 - 6:16AM
Edgar (US Regulatory)
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): May 28, 2021
One
World Pharma, Inc.
(Exact
name of registrant as specified in charter)
Nevada
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000-56151
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61-1744826
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(State
or other Jurisdiction
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(Commission
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(IRS
Employer
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of
Incorporation)
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File
Number)
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Identification
No.)
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3471
West Oquendo Road, Suite 301 Las Vegas, NV
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89118
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(Address
of principal executive offices)
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(zip
code)
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Registrant’s
telephone number, including area code: (800) 605-3201
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any
of the following provisions:
[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol(s)
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Name
of each exchange on which registered
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N/A
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N/A
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N/A
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405)
or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
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
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
On
May 28, 2021, Vahé Gabriel was appointed to serve as the Chief Financial Officer and Chief Operating Officer of One World Pharma,
Inc. (the “Company”) pursuant to a letter agreement with the Company (the “Employment Agreement”).
Mr.
Gabriel, 63, has been the Chief Operating Officer of ISIAH International, LLC, a holding company with interests in a diversified portfolio
of businesses, since November 2020, and has more than 20 years of experience in senior-level leadership focused on operations and finance
for start-up and early-stage growth companies. From January 2020 until joining ISIAH International, Mr. Gabriel was the Chief Executive
Officer of Atthis LLC, a start-up formed to provide construction, drilling and maintenance services. Previously, from July 2015 until
February 2019, Mr. Gabriel served as President and Chief Operating Officer of CGL Companies, a Hunt Development Company, providing planning
and design, project management and facility management services. Additionally, Mr. Gabriel was involved in the waste and recycling industry
for number of years, starting with Waste Management (formerly USA Waste) and with Waste Services of Florida, as well as the cellular
phone industry working for McCaw Cellular which was acquired by AT&T. Mr. Gabriel started his career in public accounting in the
Pittsburgh office of Deloitte and Touche where he became a registered CPA, and was a supervisor/manager in the audit group for several
years. Mr. Gabriel holds a BS in Accounting from Duquesne University and an MBA from the University of Washington’s Executive MBA
Program.
Pursuant
to the Employment Agreement:
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Mr.
Gabriel will be employed by the Company on at-will basis and will be entitled to be paid a base salary of $200,000 commencing October
1, 2021.
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●
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If
mutually agreed by the Company and Mr. Gabriel, Mr. Gabriel’s salary may be paid from time to time with a number of shares
of the Company’s Common Stock equal to (a) 1.25 times the cash payment to which he would have been otherwise entitled, divided
by (b) the closing price of the Common Stock on the day such cash payment was due.
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The
Company has awarded Mr. Gabriel an option (the “Option”) to purchase 1,000,000 shares of the Company’s Common
Stock at an exercise price equal to $0.1728 per share. The Option vests immediately as to 500,000 shares, as to 250,000
shares three months after the issuance of the Option, and as to the remaining 250,000 shares six months after the issuance
of the Option.
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The
foregoing description of the Employment Agreement is qualified in its entirety by reference to the actual terms of the Employment Agreement,
which has been filed as Exhibit 10.1 to this Current Report on Form 8-K, and which is incorporated herein by reference.
As
a result of Mr. Gabriel’s appointment as Chief Financial Officer, Bruce Raben no longer serves as the Company’s Interim Chief
Financial Officer, and has been appointed to serve as an Executive Vice President of the Company.
Item
9.01. Financial Statements and Exhibits.
(d) Exhibits.
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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One
World Pharma, Inc.
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Date:
June 3, 2021
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By:
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/s/
Dr. Kenneth Perego
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Name:
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Dr.
Kenneth Perego
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Title:
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Chairman
of the Board
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