Company: LIFD
Filing Date: 2025-02-24
Form Type: 8-K
Source: 0001096906-25-000193
Chunk: 5

Company: LFTD PARTNERS INC.
Filing Date: 2025-02-24
Form: 8-K
Item: Item 8.01
Chunk 5
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I - TMD and in the related merger agreement.

Either party shall have the unilateral right to terminate the LOI - TMD, without any payment by or penalty due from any party, if such party in good faith believes that the terms, conditions and requirements that must be met in order for the TMD Closing to occur cannot reasonably be met on or before March 15, 2025, provided, however, that if one or more of the conditions precedent cannot reasonably be met on or before March 15, 2025, then the parties shall meet and use good faith efforts in an attempt to fashion a mutually

acceptable interim arrangement that would accommodate a delay in the TMD Closing Date to a date after March 15, 2025.

(3) Letter of Intent to Acquire Real Estate Companies

LIFD, Lifted, GMJ, NSW, WCJ, Sustainable Properties, LLC, an Illinois limited liability company (“ SP”), 1221 Research Parkway, LLC, an Illinois limited liability company (“1221”), 2422 N. Main, LLC, an Illinois limited liability company (“2422”), JM, Joshua Gillan (“ JG”), and EC entered into a Letter of Intent - Real Estate Companies dated as of February 19, 2025 (the “ LOI - Real Estate Companies”), pursuant to which, at a closing (the “ SP Closing”), a wholly-owned subsidiary of LIFD will acquire, in a merger, all of the ownership interests in SP, for merger consideration consisting of763,593unregistered LIFD Shares, pursuant to a mutually acceptable merger agreement which shall include a certified list of SP’s assets, liabilities and contracts acceptable to LIFD.

SP owns 100% of the ownership interests in 1221 and 2422. 1221 owns all of the real estate, building, equipment, fixtures and other improvements located at 1221 Research Parkway, Rockford, IL 61109 (collectively the “1221 Property”). 2422 owns all of the real estate, building, equipment, fixtures and other improvements located at 2422 N. Main Street, Rockford, IL 61103 (the “2422 Property”).

SP, 1221 and 2422 have not engaged in any business, and as of the Closing Date they shall not have engaged in any business.

The SP Closing shall be subject to a number of conditions precedent being fulfilled on or prior to the date of the SP Closing (the “ SP Closing Date”