SEC Contract Filing

Filing Date: 2021-12-17

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>vbhi_ex10z1.htm
<DESCRIPTION>PURCHASE AND SALE AGREEMENT
<TEXT>
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<DIV style=margin-left:72pt;width:468pt><P align=center style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:12pt'><A name=_Hlk505957001 /><B>SECURITIES PURCHASE AGREEMENT</B></P>
<P align=justify style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:12pt;text-indent:36pt'>This Securities Purchase Agreement (this &#8220;<FONT style='border-bottom:1px solid #000000'>Agreement</FONT>&#8221;) is dated as of December 3, 2021, between VERDE BIO HOLDINGS, Inc., a Nevada corporation (the &#8220;<FONT style='border-bottom:1px solid #000000'>Company</FONT>&#8221;), and the purchaser identified on the signature page hereto (including its successors and assigns, the &#8220;<FONT style='border-bottom:1px solid #000000'>Purchaser</FONT>&#8221;).</P>
<P align=justify style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:12pt;text-indent:36pt'>WHEREAS, subject to the terms and conditions set forth in this Agreement and pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the &#8220;<FONT style='border-bottom:1px solid #000000'>Securities Act</FONT>&#8221;), and Rule 506 promulgated thereunder, the Company desires to issue and sell to the Purchaser, and the Purchaser desires to purchase from the Company, securities of the Company as more fully described in this Agreement.</P>
<P align=justify style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:12pt;text-indent:36pt'>NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the Company and the Purchaser agrees as follows:</P>
<P align=center style='font:12pt Times New Roman;margin-top:6pt;margin-bottom:0pt'><B>ARTICLE I.</B></P>
<P align=center style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:12pt'><B>DEFINITIONS</B></P>
<P align=justify style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:12pt'><KBD style='position:absolute;font:12pt Times New Roman;margin-left:36pt'>1.1</KBD><KBD style=margin-left:72pt></KBD><FONT style='border-bottom:1px solid #000000'>Definitions</FONT>. &nbsp;In addition to the terms defined elsewhere in this Agreement: (a) capitalized terms that are not otherwise defined herein have the meanings given to such terms in the Certificate of Designation (as defined herein), and (b) the following terms have the meanings set forth in this Section 1.1:&nbsp;</P>
<P align=justify style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:12pt;text-indent:36pt;margin-left:36pt'>&#8220;<FONT style='border-bottom:1px solid #000000'>Acquiring Person</FONT>&#8221; shall have the meaning ascribed to such term in Section 4.5.</P>
<P align=justify style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:12pt;text-indent:36pt;margin-left:36pt'>&#8220;<FONT style='border-bottom:1px solid #000000'>Action</FONT>&#8221; shall have the meaning ascribed to such term in Section 3.1(j).</P>
<P align=justify style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:12pt;text-indent:36pt;margin-left:36pt'>&#8220;<FONT style='border-bottom:1px solid #000000'>Additional Closing</FONT>&#8221; means the closing of the purchase and sale of the Securities pursuant to Section 2.1(b), which shall occur on a Closing Date. The Additional Closing will be for the purchase of five hundred (500) shares of Preferred Stock at the aggregate purchase price of $500,000.</P>
<P align=justify style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:12pt;text-indent:36pt;margin-left:36pt'>&#8220;<FONT style='border-bottom:1px solid #000000'>Affiliate</FONT>&#8221; means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act. &nbsp;</P>
<P align=justify style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:12pt;margin-left:36pt'><KBD style='position:absolute;font:12pt Times New Roman;margin-left:36pt'>&#8220;<FONT style='border-bottom:1px solid #000000'>Board of Directors</FONT>&#8221;</KBD><KBD style=margin-left:180pt></KBD>means the board of directors of the Company.&nbsp;</P>
<P align=justify style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:12pt;text-indent:36pt;margin-left:36pt'>&#8220;<FONT style='border-bottom:1px solid #000000'>Business Day</FONT>&#8221; means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.</P>
<P align=justify style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:12pt;text-indent:36pt;margin-left:36pt'> &#8220;<FONT style='border-bottom:1px solid #000000'>Certificate of Designation</FONT>&#8221; means the Certificate of Designation to be filed prior to the Initial Closing by the Company with the Secretary of State of the State of Nevada, in the form of <FONT style='border-bottom:1px solid #000000'>Exhibit A</FONT> attached hereto.</P>
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<P align=justify style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:12pt;text-indent:36pt;margin-left:36pt'>&#8220;<FONT style='border-bottom:1px solid #000000'>Closing Date</FONT>&#8221; means the Trading Day on which all of the Transaction Documents have been executed and delivered by the applicable parties thereto in connection with the Initial Closing or Additional Closing, as ap