Current Report Filing (8-k)
March 04 2022 - 12:53PM
Edgar (US Regulatory)
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2022-01-12 iso4217:USD xbrli:shares iso4217:USD xbrli:shares
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
January 12, 2022
Date
of Report (Date of earliest event reported)
Can B̅ Corp.
(Exact
name of registrant as specified in its charter)
|
Florida |
|
000-55753 |
|
20-3624118 |
|
(State
or other jurisdiction
of
incorporation)
|
|
(Commission
File
Number)
|
|
(IRS
Employer
Identification
No.)
|
|
960 South Broadway,
Suite 120
Hicksville,
NY
|
|
11801 |
|
(Address
of principal executive offices) |
|
(Zip
Code) |
Registrant’s
telephone number, including area code
516-595-9544
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 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:
|
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
|
None |
|
CANB |
|
N/A |
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
January 12 2022, Can B Corp., a Florida corporation (the “Company”)
entered into a definitive agreement with PrimeX LLC for the
distribution of certain of the Company’s products in Brazil and
other potential international markets (the “Agreement”). Pursuant
to the Agreement, the Company will supply PrimeX with its CBD and
non-CBD products for distribution in Brazil at a 50/50 net revenue
share, with all expenses relating to such product to be reimbursed
to the Company before the revenue split. In addition, the Company
has agreed to white label products for PrimeX at a price of the
Company’s cost plus 25%. PrimeX will be the exclusive provider of
Company products in Brazil and will have the option to enter
additional international markets. The Company has agreed to provide
requested samples to PrimeX at cost. The Company will assist PrimeX
with marketing and USA compliance relating to the products. The
Company has agreed to extend PrimeX 60 day payment terms with a
line of credit up to $200,000.
The
term of the Agreement is two years with one-year automatic
extensions unless either party terminates before extension. The
Agreement contains indemnification, confidentiality,
non-disparagement and non-solicitation obligations for both
parties.
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.
| |
Can
B̅ Corp. |
| |
|
|
Date:
March 4, 2022 |
By: |
/s/
Marco Alfonsi |
| |
|
Marco
Alfonsi, CEO |
CAN B (QB) (USOTC:CANB)
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CAN B (QB) (USOTC:CANB)
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