Company: LIFD
Filing Date: 2025-02-24
Form Type: 8-K
Source: 0001096906-25-000193
Chunk: 7

Company: LFTD PARTNERS INC.
Filing Date: 2025-02-24
Form: 8-K
Item: Item 8.01
Chunk 7
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 in order for the SP Closing to occur cannot reasonably be met on or before March 15, 2025,

provided, however,

(4) Letter of Intent to Acquire Hemp and Retail Companies

LIFD, Lifted, GMJ, NSW, WCJ, Sustainable Growers, LLC, an Illinois limited liability company (“ SG”), Sustainable Innovations Development Company, LLC, an Illinois limited liability company (“ SIDC”), Buckbee Seed Co., LLC, an Illinois limited liability company (“ BSC”), Buckbee Seed Company, LLC, SEED II, an Illinois limited liability company (“ Mrs. Buckbee’s”), Downtown Rockford Restaurant, LLC, an Illinois limited liability company (“ District”), Northtown Restaurant, LLC, an Illinois limited liability company (“ Half Baked”), JM, EC and Billy Ni (“ Ni”), entered into a Letter of Intent - Hemp and Retail dated as of February 19, 2025 (the “ LOI - Hemp and Retail”) pursuant to which, at a closing (the “ SG Closing”), a wholly-owned subsidiary of LIFD will acquire, in a merger, all of the ownership interests in SG, for merger consideration consisting of 2,290,777 unregistered LIFD Shares, pursuant to a mutually acceptable merger agreement which shall include a certified list of SG’s assets, liabilities and contracts acceptable to LIFD.

As of the SG Closing:

(a) SG will own 100% of the ownership interests in SIDC and BSC;

(b) BSC will own 100% of the ownership interests in Mrs. Buckbee’s, and 50% of the ownership interests in each of District and Half Baked;

(c) Mrs. Buckbee’s will own all rights, titles and interests in the brand names Mrs. Buckbee’s and Wake N Bakery, and in the lease (the “ Mrs. Buckbee’s Lease”) of 275 Deane Drive, Rockford, IL 61107, and the Mrs. Buckbee’s Lease shall be in full force and effect and legally binding, without any outstanding defaults by Mrs. Buckbee’s (as tenant) thereunder;

(d) District will own all rights, titles and interests in in the brand name District Bar & Grill, and in the lease (the “ District Lease”) of 205 W. State St., Rockford, IL 61101, and the District Lease shall be in full force and effect and legally binding, without any outstanding defaults by District (as tenant) thereunder; and

(e)