CANNASYS, INC. (OTCMKTS:MJTK) Files An 8-K Entry into a Material Definitive AgreementITEM 1.01—ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On August 18, 2017, we received proceeds of $47,250, net of transaction costs, from an 8% Convertible Promissory Note and Securities Purchase Agreement dated August 16, 2017, with BNA Investment Capital, LLC, a Wyoming limited liability company. The Securities Purchase Agreement provides for a promissory convertible note in the aggregate principal amount up to $275,000, in tranches of $50,000 each, with additional tranches in the sole discretion of the accredited investor. The note accrues interest at the rate of 8% per annum, and the maturity date for each tranche funded is 12 months from the effective date of its payment. The outstanding amounts funded under the promissory note are convertible into shares of CannaSys, Inc. common stock in accordance with its terms. These securities were 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. BNA Investment Capital, LLC, 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 2.03—CREATION 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 3.02—UNREGISTERED SALES OF EQUITY SECURITIES
The information set forth in Item 1.01 is incorporated by reference in this Item 2.03.
ITEM 9.01—FINANCIAL STATEMENTS AND EXHIBITS
The following are filed as exhibits to this report:
|
Exhibit Number* |
Title of Document |
Location |
|
Item 10 |
Material Contracts |
|
|
10.78 |
Securities Purchase Agreement between CannaSys, Inc., and BNA Investment Capital, LLC |
Attached |
|
10.79 |
Convertible Promissory Note up to $275,000 issued to BNA Investment Capital, LLC |
Attached |
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*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. Omitted numbers in the sequence refer to documents previously filed as an exhibit.
CANNASYS INC ExhibitEX-10.78 2 mjtk_ex10z78.htm EXHIBIT 10.78 Ex 10.78 BNA Securities Purchase Agreement (00461905.DOCX;2) SECURITIES PURCHASE AGREEMENT This SECURITIES PURCHASE AGREEMENT (the “Agreement”),…To view the full exhibit click here
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.