Company: LIFD
Filing Date: 2025-02-24
Form Type: 8-K
Source: 0001096906-25-000193
Chunk: 3

Company: LFTD PARTNERS INC.
Filing Date: 2025-02-24
Form: 8-K
Item: Item 8.01
Chunk 3
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 if SI or the SI Infuser License is transferred to a third party prior to or during the one year period after the $625,000 Loan is forgiven (the “ Standstill Period”). Immediately following the end of the Standstill Period (the “ SI Purchase Date”), the owners of SI shall sell to LIFD all of the capital stock of SI for an aggregate purchase consideration of $10.00.

SI has not yet engaged in any business, and, as of the SI Purchase Date, SI shall not yet have engaged in any business.

SI has already entered into discussions and negotiations with certain third parties related to certain potential marijuana product agreements and arrangements. Prior to the Marijuana Subsidiaries Closing, SI shall use good faith efforts to collaborate with LIFD regarding these discussions and negotiations, SI shall not shop SI or its subsidiaries to potential acquirors other than LIFD, and each of the parties agrees and covenants to use good faith efforts to cause the mergers to close as soon as practicable, subject to the fulfillment of all of the terms, conditions and requirements set forth in the LOI - SI and Merger Subsidiaries and in the related merger agreements.

Either party shall have the unilateral right to terminate the LOI - SI and Merger Subsidiaries, 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 Merger Subsidiaries Closing to occur cannot reasonably

be met on or before March 15, 2025, provided, however,

(2)Letter of Intent to Acquire TMD Ventures, LLC

LIFD, Lifted, GMJ, NSW, WCJ, SI, TMD, JM, Karim “ Joe” Murray (“ KM”), and EC entered into a Letter of Intent - TMD dated as of February 19, 2025 (the “ LOI - TMD”), pursuant to which, at a closing (the “ TMD Closing”), a wholly-owned subsidiary of LIFD will acquire, in a merger, all of the ownership interests in TMD, for merger consideration consisting of 2,000,000 unregistered LIFD Shares, pursuant to a mutually acceptable merger agreement which shall include a certified list of TMD’s licenses, assets, liabilities and contracts acceptable to LIFD.

TMD shall own the following asset as of the date of the TMD Closing (the “ TMD Closing Date”