Company: ARTL
Filing Date: 2025-08-07
Form Type: DEF 14A
Source: 0001640334-25-001376
Chunk: 16

Company: ARTELO BIOSCIENCES, INC.
Filing Date: 2025-08-07
Form: DEF 14A
Chunk 16
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 Blank Check Preferred Amendment would increase the number of the currently authorized number of shares of Preferred Stock in our Articles from 69,444 to 10,000,000.

Our Articles currently have 69,444 shares of Preferred Stock authorized of which none are issued and outstanding. Our Board has determined that it is advisable to amend the Articles to increase the number of authorized shares of preferred stock from 69,444 to 10,000,000 and to allow the Board the right to determine the rights and preferences of the Preferred Stock in its discretion to provide flexibility with its capital raising efforts. The form of the proposed amendment to our Articles is attached to this Proxy Statement as . If approved by our stockholders, we intend to file the Blank Check Preferred Amendment, in substantially the form attached hereto as, with the Secretary of State of Nevada as soon as practicable following the Special Meeting, and such amendment will be effective upon filing. If this proposal is not approved by our stockholders, our Articles will continue as currently in effect.

Purpose of the Blank Check Preferred

We are requesting our stockholders to approve and adopt an amendment to Articles in order to authorize the issuance of 10,000,000 shares of Preferred Stock, with rights and preferences to be determined by the Board from time to time. The Board believes that the adoption the Blank Check Preferred Amendment will provide maximum financial and strategic flexibility with respect to future financing transactions. The Board believes that having blank check preferred stock will be attractive for investors and could be used as a means of raising capital, where the terms of those securities being negotiated and tailored to meet the needs of both investors and the company. If the Blank Check Preferred Amendment is approved, the Board could issue up to a total of 10,000,000 shares of preferred stock in one or more series. The Board would be able to establish the number of shares to be included in each such series and issue the additional shares of authorized Preferred Stock with such designations, preferences and relative, participating, optional, conversion or other special rights (if any) of such series and the qualifications, limitations or restrictions (if any) thereof, as the Board may in the future establish by resolution(s). No vote of the holders of our Common Stock or Preferred Stock would be required for the creation or issuance of a series of Preferred Stock, unless otherwise expressly required by the Articles, the Preferred Stock designation creating any series of Preferred Stock, or to the extent required by the Nevada Revised Statutes or Nasdaq (“Required Approval”). The Board could authorize the