CANNASYS, INC. (OTCMKTS:MJTK) Files An 8-K Entry into a Material Definitive Agreement

ITEM 1.01ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On May 15, 2017, we received proceeds of $46,950, net of
transaction costs, from an 8% Convertible Redeemable Promissory
Note under the terms of a Securities Purchase Agreement dated
December 16, 2016, with Adar Bays, LLC, a Florida limited
liability company. The note accrues interest at the rate of 8%
per annum and matures on December 12, 2017. The outstanding
amount due under the note is immediately convertible into
restricted shares of CannaSys common stock after 180 days from
the issue date, at Adar Bays sole discretion, at 50% of the
lowest trading price for the common stock for the 25 consecutive
prior trading days immediately preceding the conversion date,
with some exceptions.

The note was issued in reliance on the exemption from
registration provided in Section 4(a)(2) of the Securities Act of
1933, as amended, for transactions not involving any public
offering. Adar Bays is an accredited investor as defined in Rule
501(a) of Regulation D and confirmed the foregoing and
acknowledged, in writing, that the securities were acquired and
will be held for investment. No underwriter participated in the
offer and sale of these securities, and no commission or other
remuneration was paid or given directly or indirectly in
connection therewith.

ITEM 2.03CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN
OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A
REGISTRANT

The information set forth in Item 1.01 is incorporated by
reference in this Item 2.03.

ITEM 3.02UNREGISTERED SALES OF EQUITY SECURITIES

The information set forth in Item 1.01 is incorporated by
reference in this Item 3.02.

EXPLANATORY NOTE

The information in this report, including exhibit 99.01, is being
furnished to Item 7.01 and Item 9.01 of Form 8-K and General
Instruction B.2 thereunder. Such information shall not be deemed
filed for purposes of Section 18 of the Securities Exchange Act
of 1934, as amended, or otherwise subject to the liabilities of
that section, nor shall it be deemed incorporated by reference in
any filing under the Securities Act of 1933, as amended.

ITEM 7.01REGULATION FD DISCLOSURE

On May 24, 2017, CannaSys, Inc. issued a press release, a copy of
which is attached as Exhibit 99.01.

ITEM 9.01FINANCIAL STATEMENTS AND EXHIBITS

The following is filed as an exhibit to this report:

______________________________________

*All exhibits are numbered with the number preceding the
decimal indicating the applicable SEC reference number in Item
601 and the number following the decimal indicating the sequence
of the particular document.

About CANNASYS, INC. (OTCMKTS:MJTK)

CannaSys, Inc., formerly Thermal Tennis Inc., is a technology company. The Company provides technology services in the ancillary space of the cannabis industry. The Company creates, develops and commercializes solutions to solve customer service and provider problems; creates producer and retailer opportunities, and streamlines the connections among the producer, seller and consumer/patient segments for the medical and recreational cannabis community. Its products serve both medical and recreational growers, dispensers and customers. Its products include BumpUp Rewards, BumpUp Rewards White-Label Applications, CannaLIMS and MHB, Inc. Branded Products. Its BumpUp Rewards is an affiliate-based membership rewards loyalty program designed for the cannabis industry. CannaLIMS is a laboratory management information system product focused on the cannabis marketplace. It has interest in MHB, Inc., doing business as Mile High Brands.

CANNASYS, INC. (OTCMKTS:MJTK) Recent Trading Information

CANNASYS, INC. (OTCMKTS:MJTK) closed its last trading session up +0.00070 at 0.00340 with shares trading hands.