STWC Holdings, Inc. (OTCMKTS: STWC) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On November 15, 2018, STWC Holdings, Inc., a Colorado corporation dba Strainwise ("STWC" and the "Company") and co-defendants Shawn Philips and Erin Phillips entered into a Confidential Settlement Agreement and release of Claims (the "Settlement Agreement") with Headgate II, LLC, William A. Shopneck, and Christopher Shopneck (collectively, "Headgate). to the Settlement Agreement, the settling defendants collectively agreed to pay Headgate a total of $85,000, to be paid in monthly installments beginning on November 15, 2018 and ending July 15, 2019, and execute a Confession of Judgment to be held by Headgate guaranteeing the defendants' settlement obligations for the same. In consideration for the foregoing, Headgate agreed to dismiss its lawsuit against the Company filed in the District Court of the City and County of Denver (the "Court"), Case No. 2018CV30778 (the "Lawsuit") and to release, waive, and forever discharge the Company from any and all claims and actions that could have been brought in the Lawsuit. The Company also agreed to release, waive, and forever discharge the Headgate from any and all claims and actions.
Item 8.01 Other Events
On November 26, 2018 the Company and Headgate filed a Stipulation of Dismissal with Prejudice (the "Dismissal") with the Court. to the Dismissal, each party formally dismissed all claims it had against the other party and the trial between Headgate and the Company was vacated.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed herewith.
Settlement Agreement with Headgate
Stipulation of Dismissal with Prejudice
STWC. Holdings, Inc. Exhibit
EX-99.1 2 stwcexh99_1.htm STWC HOLDINGS,…
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