Each one in plain English, with the numbers worked through for a shareholder.
31 July 2017material agreement▼ BadMajor
Rewrote the Affordable Green licence again, raising the total to $2.3 million with a new schedule to 26 October 2017. Only $60,000 in four payments was marked paid, and the licensor was also to receive 100,000 restricted shares.
Renamed itself Cannabis Leaf Incorporated by merging a shell subsidiary of that name into itself - a paperwork device that needed no shareholder vote - and at the same time multiplied its shares six-for-one and raised its authorised capital. The mineral-exploration identity was formally dropped for a cannabis one.
On 1 June 2017 the company (still named Pacificorp Holdings) amended its Washington State licence with Affordable Green Washington LLC, raising the total fee to $2,200,000 and replacing the earlier schedule with a new one. Payments of $25,000, $9,800 were acknowledged as received, with $15,200 and $10,000 due in early June and the rest in stages from $75,000 on 30 June up to a final $815,000 on 30 October 2017. This continues the May licence deal on a larger and more spread-out payment plan.
Converted the March letter of intent into a definitive exclusive licence with Affordable Green Washington, due $25,000 on signing, $100,000 by end of May and $2 million by 30 September 2017. Director Wan Soo Lee resigned the same day.
Pacificorp Holdings - a Nevada shell incorporated in 2014 to explore mineral properties, with no mining ever done - signed a letter of intent to license Affordable Green Washington's marijuana products and marketing model for Washington State, promising $2.1 million in stages. The first move in a three-year hunt for a business to be in.