WEED, INC. (OTCMKTS:BUDZ) Files An 8-K Regulation FD Disclosure
Item 7.01
WEED, INC. (OTCMKTS:BUDZ) Files An 8-K Regulation FD Disclosure
Regulation FD Disclosure.
On July 9, 2019, we issued a press release announcing the fact we had the winning bid for Greg DiPaolo’s Pro Am Golf, LLC property located in Westfield, New York. A copy of the press release is furnished with this Current Report as Exhibit 99.1.
The information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liability under such section, nor shall it be deemed incorporated by reference in any of our filings under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.
Section 8 – Other Events
Item 8.01
Other Events
As announced previously in our filings with the Securities and Exchange Commission, the Greg DiPaolo’s Pro Am Golf, LLC (“DiPaolo”) property located in Westfield, New York was put into foreclosure by the first position mortgage holder on the property. Under an agreement with DiPaolo, and in accordance with the process for the auction, we had a $120,000 non-refundable deposit down to acquire the property. Since the property was in foreclosure it was put up for auction, which occurred on July 1, 2019. At the auction, WEED, Inc. was the winning bidder with a bid of $597,000. Our prior deposit payment of $120,000 is being credited towards the purchase price, with the remaining $477,000, due on July 31, 2019. We currently need to raise additional funds to pay the remaining purchase price by July 31, 2019.
The property is approximately 43 acres and has unlimited water extraction rights from the State of New York. We plan to use this property as our inroads to the New York hemp and infused beverage markets in the future. There are no current plans or budget to proceed with operations in New York if we are successful in acquiring the property, and there will not be until proper funding is secured after acquiring this property.
Item 9.01
Financial Statements and Exhibits
(c)
Exhibits
WEED, INC. Exhibit
EX-99.1 2 exhibit_99-1.htm PRESS RELEASE DATED JULY 9,…
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EX-99.1 2 exhibit_99-1.htm PRESS RELEASE DATED JULY 9,…
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About WEED, INC. (OTCMKTS:BUDZ)
WEED, Inc. is focused on purchasing land and building commercial grade Cultivation Centers to consult, assist, manage and lease to licensed dispensary owners and organic grow operators on a contract basis, with a concentration on the legal and medical marijuana (Cannabis) sector. The Company intends to become a seed-to-sale company providing infrastructure, financial solutions and real estate options in the medical marijuana market. The Company plans to incorporate approximately eight subsidiaries to focus on various segments, such as Mining; Marijuana Farms; Security Services; Legal, licensing, consulting and management; Land acquisition; Financial solutions; Wholesale and retail sales, and International operations. The Company is in the process to form approximately eight divisions and two non-profits.