Company: ARTL
Filing Date: 2025-07-28
Form Type: PRE 14A
Source: 0001640334-25-001329
Chunk: 16

Company: ARTELO BIOSCIENCES, INC.
Filing Date: 2025-07-28
Form: PRE 14A
Chunk 16
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 the rights and preferences of series of preferred stock would give us greater flexibility and allow us to issue such shares in most cases without the expense of delay of seeking stockholder approval. We are at all times investigating additional sources of financing which our Board believes will be in our best interests and in the best interests of our stockholders. The proposed 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 full text of the proposed amendment to our Articles is attached to this proxy statement as . However, the text of the proposed amendment is subject to revision to include such changes as may be required by the Secretary of State of the State of Nevada and as our Board deems necessary and advisable to effect the proposed Blank Check Preferred Amendment. If approved by our stockholders, we intend to file the Blank Check Preferred Amendment 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,