UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 1.01 Entry into a Material Definitive Agreement.
On December 9, 2021, CFN Real Estate LLC, a Delaware limited liability company (“CFN”) and wholly-owned subsidiary of CFN Enterprises Inc. (the “Company”), entered into a Lease Agreement (with Option to Purchase) (the “Lease”) with H2S2 LLC, a Colorado limited liability company, for property in Eaton, Colorado, consisting of 9.53 acres of agricultural land zoned with use for special review for hemp processing and storage, an 8,500 square foot C1D1 rated steel building, triple tunnel green houses with a total of 8,712 square feet, a shop building consisting of 3,825 square feet and a 2,280 square foot residence (the “Premises”). The Company will use the Premises in connection with its CNP Operating cannabidiol (CBD) manufacturing business.
The Lease has an eleven month term and contains an option to purchase the Premises (the “Option”), each terminating on November 30, 2022. The total monthly rent under the Lease during the term is an aggregate of $354,000, consisting of a $14,000 monthly lease payment, and an aggregate of $200,000 in non-refundable payments towards the Option. The total purchase price for the Premises under the Option is $1.2 million, inclusive of the $200,000 in payments made during the term of the Lease. If the Option is exercised, the Lease contains a 30-day automatic extension of the term at $14,000. All utility costs for the Premises are to be paid by CFN.
The foregoing description of the Lease does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease, a copy of which is filed as Exhibit 10.1 hereto and incorporated by reference herein.
Item 9.01. Financial statements and Exhibits
(d) Exhibits.
Exhibit Number |
| Description |
10.1 |
| Lease Agreement (with Option to Purchase), dated December 9, 2021. |
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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| CFN ENTERPRISES INC. |
| By: | /s/ Brian Ross |
| Name: | Brian Ross |
| Title: | President and Chief Executive Officer |
Date: December 13, 2021