Quarterly report pursuant to Section 13 or 15(d)

NOTE 18: SUBSEQUENT EVENTS

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NOTE 18: SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2019
Notes  
NOTE 18: SUBSEQUENT EVENTS

NOTE 18: SUBSEQUENT EVENTS

 

On July 2, 2019, AXIM Biotechnologies, Inc. (“AXIM”) entered into a multi-term, non-exclusive license and distribution agreement (“Agreement”) with Colorado based gum developer, KISS Industries, LLC (“KISS Industries”). Under the terms of the Agreement, AXIM grants KISS Industries a non-exclusive license to formulate and sell products that fall within AXIM’s cannabinoid chewing gum patent in exchange for royalties to be paid to AXIM based upon KISS Industries sales in the United States and Mexico. The Agreement also grants AXIM the right to: (i) acquire 10 percent of KISS Industries under certain conditions; and (ii) match any outside future offer to acquire KISS Industries as a whole. Further, AXIM’s CEO John W. Huemoeller II will also join the Board of Directors of KISS Industries.

 

On July 11, 2019 the Company has issued 687,285 shares of its restricted common stock to Kettner Investment LLC valued at $500,000 pursuant to the stock purchase agreement.

 

On August 1, 2019 the Company has issued 6,055 shares of its restricted stock to Advisory Board at book value of $7,500.