# EDGAR Filing Document

**Accession Number:** 0001533030
**File Stem:** 0001213900-23-003266
**Filing Date:** 2023-1
**Character Count:** 20876
**Document Hash:** baa5b98d3b0d24170f50856cdbe46221
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-23-003266.hdr.sgml**: 20230118

**ACCESSION NUMBER**: 0001213900-23-003266

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 18

**CONFORMED PERIOD OF REPORT**: 20230116

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230118

**DATE AS OF CHANGE**: 20230118

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cryomass Technologies, Inc.
- **CENTRAL INDEX KEY:** 0001533030
- **STANDARD INDUSTRIAL CLASSIFICATION:** CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56155
- **FILM NUMBER:** 23533568

**BUSINESS ADDRESS:**
- **STREET 1:** 1001 BANNOCK STREET
- **STREET 2:** SUITE 612
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80204
- **BUSINESS PHONE:** 303-222-8092

**MAIL ADDRESS:**
- **STREET 1:** 1001 BANNOCK STREET
- **STREET 2:** SUITE 612
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80204

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Andina Gold Corp.
- **DATE OF NAME CHANGE:** 20200903

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Redwood Green Corp.
- **DATE OF NAME CHANGE:** 20191018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First Colombia Development Corp.
- **DATE OF NAME CHANGE:** 20180502

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

**FORM 8-K** 

**CURRENT REPORT** 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) **<u>January 16, 2023</u>**

**<u>Cryomass Technologies Inc</u>**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Nevada** | **000-56155** | **82-5051728** |
| (State or other jurisdiction of | (Commission File Number) | (IRS Employer |
| in corporation) |  | Identification No.) |

---

---

| | |
|:---|:---|
| 1001 Bannock St Suite 612, Denver CO | **80204** |
| (Address of principal executive offices) | (Zip Code) |

---

Registrant's telephone number, including area code **<u>303-416-7208</u>**

(Andina Gold Corp.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of Each Class** | **Trading Symbol** | **Name of each Exchange on which Registered** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b -2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 1.01 Entry into a Material Definitive Agreement**

On January 16, 2023, Cryomass Technologies Inc (OTCQX: CRYM) (the "Company", also termed "Licensor") entered into a Patent License and Equipment Rental Agreement ("License Agreement") with RedTape Core Partners LLC and its affiliates (collectively, "Licensee") and Coastal Refinement Solutions Inc ("First Sublicensee"), effective on the same date ("Effective Date"). Pursuant to the License Agreement the Company granted Licensee (1) an exclusive commercial license partially revocable per the terms of the License Agreement to use the Licensed Patent, as such term is defined in the agreement, namely U.S. Patent Application No. 15/606672 entitled 'System and Method for Cryogenic Separation of Plant Material" which issued on December 15, 2020, as US. Patent 10,864,525; (2) to use the first deployed CryoMass Refinement System Unit, and (3) secure deployment and use of up to eleven additional Units in up to five Territories (namely, California, Pennsylvania, New Jersey, New York and Florida) provided that certain conditions are met. The Licensee has the right to grant Sublicense Agreements under certain conditions and subject to Company discretionary approval. Unless earlier terminated as provided in the License Agreement, the term of the License Agreement commences on the Effective Date and continues for a duration of five years. Partial termination by Licensor as to a Territory is also permissible if certain events occur.

Licensee shall pay Company an Upfront Fee of a total of US$10,200,000 (ten million and two hundred thousand United States dollars) in installments, with the last installment due on December 15, 2023. The Upfront Fee comprises of an Exclusivity Fee and an Equipment Fee, with the Exclusivity Fee being a prerequisite to secure exclusive rights to each of the Territories and payable no later than March 15, 2023, to secure exclusivity. In addition to the Upfront Fee, Licensor shall also receive 50% of Licensees Net Revenue in connection with Permitted Toll Processing Activity, both as defined in the License Agreement during the entire term of the License Agreement. All revenues generated by Licensee and any Sublicensee, including First Sublicensee, shall be included in revenue calculation for the purposes of Licensee Net Revenue, royalties calculation and reports.

Licensee and its Sublicensees are required to meet minimum revenue thresholds per Unit. Licensor has access to Licensee bank account information and provides administrative support for, among other, generating customer invoices.

The foregoing description of the License Agreement is qualified in its entirety by reference to the complete text of such License Agreement, which the Company intends to file with the SEC as an exhibit to the Company's Annual Report on Form 10-K for the year ended December 31, 2022.

**Item 7.01 Regulation FD Disclosure**

On January 18, 2023, the Company issued a press release, a copy of which is furnished as Exhibit 99.1 to this report and incorporated herein by reference.

The information in Item 7.01 of this Current Report and Exhibit 99.1 is being furnished, not filed, pursuant to Items 7.01 and 9.01 of Form 8-K. Accordingly, the information in Items 7.01 and 9.01 of this Current Report, including Exhibit 99.1, will not be subject to liability under Section 18 of the Securities and Exchange Act of 1934, as amended (the "Exchange Act"), and will not be incorporated by reference into any registration statement or other document filed by the Company under the Securities Act of 1933, as amended, or the Exchange Act, unless specifically identified therein as being incorporated by reference. The furnishing of information in this Current Report, including Exhibit 99.1, is not intended to, and does not, constitute a determination or admission by the Company that the information in this Current Report, including Exhibit 99.1, is material or complete, or that investors should consider this information before making an investment decision with respect to any security of the Company or any of its affiliates.

**Item 9.01 Financial Statements and Exhibits**

EXHIBIT 99.1 [Cryomass Technologies Inc Press Release January 18, 2023](ea171830ex99-1_cryomass.htm) <br> 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

NOTE REGARDING FORWARD LOOKING STATEMENTS

Any statements in this Current Report on Form 8-K or any exhibit hereto about future expectations, plans, and prospects for the Company, including statements about Company's future expectations, beliefs, goals, plans, or prospects, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. In some cases you can identify forward-looking statements because they contain words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "likely," "plan," "potential," "predict," "project," "seek," "should," "target," "will," "would," or similar expressions and the negatives of those terms.

These forward-looking statements involve risks, uncertainties, and assumptions that could cause actual performance or results to differ materially from those expressed or suggested by the forward-looking statements. If any of these risks or uncertainties materialize, or if any of Company's assumptions prove incorrect, its actual results could differ materially from the results expressed or implied by these forward-looking statements. These risks and uncertainties include risks associated with: Company's ability to achieve or maintain profitability, and to effectively manage its anticipated growth; and the risks described in the other filings Company makes with the Securities and Exchange Commission from time to time, including the risks described under the heading "Risk Factors" in Company's Annual Report on Form 10-K for the year ended December 31, 2021 and subsequent quarterly reports on Form 10-Q, and which should be read in conjunction with its financial results and forward-looking statements. All forward-looking statements in this Current Report on Form 8-K or any exhibit hereto are based on information available to Company as of the date hereof, and it does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Cryomass Technologies Inc

---

| |
|:---|
| /s/ Christian Noël |
| Christian Noël |
| CEO |
| Date: January 18, 2023&nbsp;&nbsp;&nbsp;&nbsp; |

---

## Exhibit 99.1

**Exhibit 99.1**

![](ex99-1_001.jpg)

**CryoMass Signs $10.2 Million Multi-State License Agreement**

**Company Poised for Tremendous Market Growth Throughout 2023 and Beyond**

January 18, 2023 07:10 ET \| Source: <u>Cr</u>y<u>omass Technologies</u>

DENVER, Jan. 18, 2023 (GLOBE NEWSWIRE) -- **CryoMass Technologies Inc.** (the "**Company**" or "**CryoMass**") (OTCQX: **CRYM**) is pleased to announce the signing of a multi-state license agreement with California-based RedTape Core Partners LLC ("RedTape") following the successful market launch of the Company's patented cryogenic Trichrome Separation system.

On December 12<sup>th</sup>, 2022, CryoMass delivered the Company's first Trichome Separation unit to RedTape's Coastal Refinement Solutions cannabis extraction and processing center in Monterrey, California, and continued intensive beta testing of its high-volume, continuous throughput, biomass processing system. The results of this testing have demonstrated that the patented CryoMass process is truly revolutionary.

![](ex99-1_002.jpg)

![](ex99-1_003.jpg)

![](ex99-1_004.jpg)

![](ex99-1_005.jpg)

CryoMass' Trichome Separation system installation in California.

CryoMass patented solventless liquid nitrogen processing system enables processors to substantially reduce the number of steps in the pre- and post-extraction processes, which translates into important efficiencies and cost savings of up to 30-40%. The process results in an output of superior purity that captures practically all the active compounds present in the biomass at the time of harvest.

Up to now, there has not been any viable process that have performed extraction directly from trichomes on a commercial scale because the technology to separate trichomes from biomass on a large scale simply did not exist. We are identifying post-processing methods of extraction from trichomes that have never been used or even been tested by the industry, that are much more efficient and less costly than existing extraction methods.

Teams at both RedTape and CryoMass have been busy focusing on identifying and testing the best post-processing procedures to get the separated trichomes to a final product more efficiently and the results we are seeing are extremely encouraging.

Under the terms of a multi-state license agreement, RedTape agreed on the terms to license the patented process and deploy 12 Trichome Separation systems for a total upfront investment of US$10.2 million payable in installments to CryoMass throughout 2023. CryoMass has agreed to deliver the units to RedTape according to a schedule that extends over 24 months. In addition to the installments, RedTape will pay CryoMass 50% of all net revenue generated by the units over the life of the agreement.

The license agreement grants RedTape the exclusive right, subject to agreed-upon distribution and licensing milestones, to distribute the Trichome Separation units and develop the hemp and cannabis processing and extraction markets with CryoMass in states where RedTape has extensive affiliate business operations and alliances. The five states covered by the agreement are California, New York, New Jersey, Florida and Pennsylvania.

CryoMass Director and CEO Christian Noël stated, "Over the course of the past several months, we have taken important steps to improve the operational efficiency of our technology. Although the decision caused delays in our initially forecasted product release timeline, we are now confident our long-term manufacturing capabilities will prove to be resistant to supply chain delays and disruptions. This should translate into a more controllable production environment that's scalable to market demand."

Noël added, "RedTape was selected for their detailed understanding of the CryoMass process and their ability to convey their understanding to other processing facilities in their vast network of business alliances within these key states. RedTape's Monterrey-based team at Coastal Refinement Solutions possesses tremendous processing and extraction expertise that should prove to be extremely valuable for us both in terms of advancing and fine-tuning our technology and in rapidly expanding our US market licensing network. We are extremely optimistic about what lies ahead for us in 2023 and beyond. We are now ready."

RedTape Director and CEO Michael Tanzer stated, "This technology is a prime example of invaluable intellectual property developed within the cannabis industry that stands to substantially benefit other consumers and markets. CryoMass' process accomplishes an extremely difficult feat of separating a tiny fragile trichome from a fresh wet flower at scale. We are honored to work alongside CryoMass' sophisticated executive and engineering teams to help further advance this revolutionary process by making this technology available to farmers and processors throughout the United States. We couldn't be more excited about this partnership because when a group of this many good people come together you know something great is about to happen!"

**About RedTape**

RedTape Core Partners LLC develops, accelerates and invests in startups in the US Cannabis industry. The company's vertically integrated portfolio consists of licensed manufacturing and retail operations, as well as proprietary software and hardware companies that work synergistically as a supply chain. The RedTape ecosystem utilizes WebJoint's ecommerce software to power its delivery service Lakeside Remedy's which is the largest retailer of its brand CaliStripe Concentrates that are stored in Curidor's climate-controlled systems to preserve terpene content. RedTape's ecosystem has an annual gross market value that is more than $100 million across 500 000+ consumers throughout California, New York, New Mexico, Michigan, Massachusetts and Utah.

**About CryoMass**

CryoMass Technologies Inc. designs, manufactures and licenses field-mobile equipment for the handling of harvested cannabis, hemp and other high-value plant material. The company owns patented technology that utilizes liquid nitrogen to fully separate, collect and protect the high-value compounds from the harvested plant. Building on that technology, the company has designed and built its first Trichome Separation unit. CryoMass' patented liquid nitrogen Trichome Separation system is optimized for the rapid capture of fully intact cannabis and hemp trichomes, as well as terpenes. The system empowers processors to operate more efficiently by reducing the number of steps in the pre- and post-extraction processes which translates into important cost savings. The process results in a purity processed end product that captures practically all the active compounds present in the biomass at the time of harvest. The resulting CryoSift (trichomes) can be warehoused for extended periods, or further processed into consumer products. The company believes that efficiencies delivered by the system will trigger industry-wide changes in the handling and processing of harvested cannabis and hemp. It also is exploring the application of the underlying technology to a broad range of industries that handle high-value materials that could benefit from precision capture methods.

The common stock of CryoMass Technologies Inc. trades on the OTC QX market under the symbol **CRYM**.

For further information, please contact the Company by email at investors@cryomass.com or by telephone at 303-222-8092.

*This press release is not an offer of securities, or a solicitation for purchase, subscription or sale of securities in the United States of America or in any other jurisdiction in which it would be unlawful to do so.*

**Forward-looking Statements**

This press release may contain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 that involve known and unknown risks, uncertainties and other factors, including risk factors identified in the Company's SEC filings, and which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Risks and uncertainties include, without limitation, changes in the regulatory environment affecting the sale and use of cannabis or hemp products and of other, potential lines of businesses that the Company will consider entering at a given time, demand for the Company's products, internal funding and the financial condition of the Company, product roll-out, competition, our dependence upon our commercial partners, variations in the global commodities markets and other commercial matters involving the Company, its products and the markets in which the Company operates or seeks to enter, as well as general economic conditions. The forward-looking statements in this press release are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

**Caution Regarding Cannabis Operations in the United States**

Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Marijuana, as defined in the U.S. Controlled Substances Act, remains a Schedule I drug under the respective act, making it illegal under federal law in the U.S. to, among other things, cultivate, distribute or possess cannabis. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the U.S. may form the basis for prosecution under applicable U.S. federal money laundering legislation. Please carefully review the Company's SEC filings with respect to related risk factor.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/2125aa9e-12ff-49b0-bbf7-153f99a4ef97

https://www.globenewswire.com/NewsRoom/AttachmentNg/c4c35eb6-d4b1-43d8-94fe-b8e4f14bba73

https://www.globenewswire.com/NewsRoom/AttachmentNg/37a28391-b756-453c-b4b4-38e90f7b7c10

https://www.globenewswire.com/NewsRoom/AttachmentNg/78342262-5e49-436d-83e5-38771049db1d