NORTHSIGHT CAPITAL, INC. (OTCMKTS:NCAP) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry into a Material Definitive Agreement.
Since January 1, 2017, John Lemak, a significant shareholder, and Sandor Capital Master Fund (an affiliate of John Lemak) (together, “Lemak”) have advanced the Registrant an aggregate of $439,000, including an aggregate of $219,000 since June 30, 2017. Lemak has been the Registrant’s primary funding source during 2017.
On September 14, 2017, in connection with an additional $30,000 advance, the Registrant agreed with Lemak to (i) issue warrants to purchase an aggregate of 5 million shares of common stock at an exercise price of $.05 per share for a term of three years (these warrants are in replacement of recently expired warrants for the same number of shares at the same exercise price), (ii) extend until September 2021 the expiration date of warrants to purchase an aggregate 4 million shares of common stock at the existing exercise price of $.05 per share, and (iii) extend until September 2021 the expiration date of warrants to purchase an aggregate 1,130,285 shares of common stock and reduce the exercise price thereof from $.25 per share to $.10 per share.
The transactions contemplated by the Agreement with Lemak are subject to Lemak notifying the Company in writing that he is satisfied, after appropriate legal review, that he can enter into these transactions in a manner acceptable to him.
About NORTHSIGHT CAPITAL, INC. (OTCMKTS:NCAP)
Northsight Capital, Inc. is engaged in the provision of online directories for a range of businesses engaged in the lawful sale and distribution of cannabis and hemp related products. The Company’s Websites include WeedDepot.com; RateMyStrain.com; 420Careers.com; MJBizWire.com; MarijuanaRecipes.com; MarijuanaSelfies.com; Wiki-Weed.com; MarijuanaMD.com, and TheMarijuanaCompanies.com. Weed Depot is a smart phone and Internet platform directory with geo-mapping for dispensaries, doctors and clinics, head shops, tattoo parlors and vape lounges. RateMyStrain.com is a site on which individuals or dispensaries can rate or insert new strains commenting on their use and effect. 420Careers.com is a Website for anyone looking to hire or seeking a job in the cannabis space. MJBizWire.com is involved in the distribution of new events for companies in the cannabis space. MarijuanaSelfies.com is a Web community for the freedom of expression and legalization of marijuana.