Document:

Exhibit 10.12

 

FIRST
AMENDMENT TO THE MINUTES OF SETTLEMENT

 

THIS
FIRST AMENDMENT TO THE MINUTES OF SETTLEMENT is dated as of the 23rd day of October, 2020 (the “Effective Date”),

 

BETWEEN:

 

HOLLYWEED
NORTH CANNABIS INC., a company incorporated under the Business Corporations Act (British Columbia) and having its registered
office at 201-2377 Bevan Avenue, Sidney, British Columbia V8L 4M9 (“Hollyweed”)

 

AND:

 

MARY
STIPANCIC, an individual having an address at 2057 Country Club Drive, Burlington, Ontario L7M 3Z2 (“Stipancic”)

 

AND:

 

RENEE
GAGNON, an individual having an address at 3974 Lexington Avenue, Victoria, British Columbia, V8N 3Z6 (“Gagnon”)

 

AND:

 

LIVIO
SUSIN, an individual having an address at 103 - 2197 West 2nd Avenue, Vancouver, British Columbia, V6K 1H7 (“Susin”)

 

AND:

 

HEATHER
JENNINGS, an individual having an address at 3974 Lexington Avenue, Victoria, British Columbia, V8N 3Z6 (“Jennings”)

 

(collectively,
the “Parties” and each, a “Party”).

 

WHEREAS:

 

	A.	The
                                            Parties entered into minutes of settlement dated April 20, 2020 (the “Original Agreement”);
	 	 

	B.	The
                                            Parties have agreed to extend the Semi-Anniversary date (as defined in the Original Agreement)
                                            (the “Extension”);
	 	 

	C.	The
                                            Parties have agreed to amend the Original Agreement to reflect the Extension; and
	 	 

	D.	The
                                            Parties wish to set out in writing the terms and conditions of such amendment of the Original
                                            Agreement.

 

NOW
THEREFORE in consideration of the mutual covenants and promises herein, and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Parties agree as follows:

 

		1.	Definitions. Capitalized
                                                                                                                                                                                                                                                                                                         terms used in this Agreement and not otherwise defined herein have the meanings given to such terms in the Original
                                                                                                                                                                                                                                                                                                         Agreement.

                                                                                 

	

     

     

    

	 	 	 

                                                                                

	2.	Amendments
                                            the Original Agreement. The following amendments shall be made to the Original Agreement:
	 	 

		a.	The
                                            last paragraph under subparagraph 2 on page 3 of the of the Original Agreement shall be amended
                                            in its entirety to read as follows:

 

“If
none of the events listed in this ’subparagraph 2 have occurred on or prior to April 20, 2021 (the “Deadline Date”).
HollyWeed shall pay the Base Amount to Stipancic on the Deadline Date. For the purposes hereof, the terms “associates” and
“affiliates” have the definitions ascribed thereto under the Ontario Business Corporations Act. Furthermore, if none
of the events listed in this subparagraph 2 have occurred on or prior to October 20, 2020, HollyWeed shall pay the Base Amount to Stipancic
in increments of a minimum of CDN$20,000 upon receiving each subsequent CDN$l million from financing or sales of HollyWeed shares or
assets until the Base Amount is paid in full on or prior to the Deadline Date.”

 

	3.	No
                                            Other Changes. Except as set forth in this Agreement, the Original Agreement shall
                                            remain in full force and effect without any further changes or modifications.
	 	 

	4.	Governing
                                            Law. This Agreement shall be governed by and construed in accordance with the laws
                                            of the Province of Ontario, and the federal laws of Canada applicable therein, and each party
                                            irrevocably attorns to the courts of the Province of Ontario, which jurisdiction shall be
                                            the sole and exclusive jurisdiction for any disputes or claims in relation to this Agreement
                                            and all matters related hereto.

 

[remainder
of page intentionally blank]

 

     

     

    

 

	5.	Counterparts. This
                                            Agreement may be executed in any number of counterparts. each of which shall be deemed to
                                            be an original and all of which taken together shall be deemed to constitute one and the
                                            same instrument. Delivery of an executed counterpart of this Agreement by electronic means
                                            shall be equally effective as delivery of a manually executed counterpart thereof.

 

IN
WITNESS WHEREOF the parties have duly executed this Agreement as of the date first written above.

 

 

	HOLLYWEED
    NORTH CANNABIS, INC.	 	 
	By: 	/s/ Renee Gagnon	 	 
	Name: 	Renee Gagnon	 	 
	Title:	President and Director	 	 
	/s/ Witness	 	/s/ Renee Gagnon
	Witness	 	RENEE GAGNON
	 	 	 	 
	/s/ Witness	 	/s/ Livio Susin
	Witness	 	LIVIO SUSIN
	 	 	 
	/s/ Witness	 	/s/ Heather Jennings
	Witness	 	HEATHER JENNINGS
	 	 	 
	/s/ Witness	 	/s/ Mary Stipancic
	Witness	 	MARY STIPANCICExhibit
10.13

 

SECOND
AMENDMENT TO THE MINUTES OF SETTLEMENT

 

THIS
SECOND AMENDMENT TO THE MINUTES OF SETTLEMENT is dated as of the 12 day of May, 2021 (the "Effective Date"),

 

BETWEEN:

 

HOLLYWEED
NORTH CANNABIS INC., a company incorporated under the Business Corporations Act (British Columbia) and having its registered office
at 201-2377 Bevan Avenue, Sidney, British Columbia V8L 4M9 (“Hollyweed")

 

AND:

 

MARY
STIPANCIC, an individual having an address at 2057 Country Club Drive, Burlington, Ontario L7M 3Z2 ("Stipancic")

 

AND:

 

RENEE
GAGNON, an individual having an address at 3974 Lexington Avenue, Victoria, British Columbia, V8N 3Z6 ("Gagnon")

 

AND:

 

LIVIO
SUSIN, an individual having an address at 103 - 2197 West 2nd Avenue, Vancouver, British Columbia, V6K 1H7 ("Susin")

 

(collectively,
the "Parties" and each, a "Party").

 

WHEREAS:

 

		A.	The
                                            Parties entered into minutes of settlement dated April 20, 2020 (the "Original Agreement");

 

		B.	The
                                            Parties have agreed to extend the Semi-Anniversary date (as defined in the Original Agreement)
                                            (the "Extension");

 

		C.	The
                                            Parties have agreed to amend the Original Agreement to reflect the Extension; and

 

		D.	The
                                            Parties wish to set out in writing the terms and conditions of such amendment of the Original
                                            Agreement

 

NOW
THEREFORE in consideration of the mutual covenants and promises herein, and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Parties agree as follows:

 

		1.	Definitions.
                                                                                                                                                                                                                                                                        Capitalized terms used in this Agreement and not otherwise defined herein have the meanings given to such terms in the Original
                                                                                                                                                                                                                                                                        Agreement.

 

     

     

    

 

		2.	Amendments
                                            to the Original Agreement. The following amendments shall be made to the Original Agreement:

 

		a.	The
last paragraph under subparagraph 2 on page 3 of the of the Original Agreement shall be amended in its entirety to read as follows:

 

"If
none of the events listed in this subparagraph 2 have occurred on or prior to May 31, 2021 (the "Deadline Date"), HollyWeed
shall pay the Base Amount to Stipancic on the Deadline Date. For the purposes hereof; the terms "associates" and "affiliates"
have the definitions ascribed thereto under the Ontario Business Corporations Act. Furthermore, if none of the events listed in
this subparagraph 2 have occurred on or prior to October 20, 2020, HollyWeed shall pay the Base Amount to Stipancic in increments of
a minimum of CDN$20,000 upon receiving each subsequent CDN$1 million from financing or sales of Hollyweed shares or assets until the
Base Amount is paid in full on or prior to the Deadline Date.”

 

		3.	No
                                            Other Changes.Except as set forth in this Agreement, the Original Agreement shall
                                            remain in full force and effect without any further changes or modifications.

 

		4.	Governing
                                            Law.This Agreement shall be governed by and construed in accordance with the laws
                                            of the Province of Ontario, and the federal laws of Canada applicable therein, and each party
                                            irrevocably attorns to the courts of the Province of Ontario, which jurisdiction shall be
                                            the sole and exclusive jurisdiction for any disputes or claims in relation to this Agreement
                                            and all matters related hereto.

 

[remainder
of page intentionally blank]

 

     

     

    

 

		5.	Counterparts.This
                                            Agreement may be executed in any number of counterparts, each of which shall be deemed to
                                            be an original and all of which taken together shall be deemed to constitute one and the
                                            same instrument Delivery of an executed counterpart of this Agreement by electronic means
                                            shall be equally effective as delivery of a manually executed counterpart thereof.

 

IN
WITNESS WHEREOF the parties have duly executed this Agreement as of the date first written above.

 

	HOLLYWEED
NORTH CANNABIS INC.
    	 
	 	 
	By: 	/s/ Renee Gagnon	 
	Name: 	Renee Gagnon	 
	Title: 	Director	 

 

	/s/
Heather Jennings
	 	/s/
Renee Gagnon
	Witness	 	RENEE
    GAGNON
	 	 	 
	/s/
Julie Bernard	 	/s/
Livio Susin
	Witness	 	LIVIO
    SUSIN
	 	 	 
	/s/
Witness	 	/s/
Mary Stipancic
	Witness	 	MARY
    STIPANCIC

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