SEC Contract Filing

Filing Date: 2021-03-30

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ghmp_ex101.htm
<DESCRIPTION>SECURITIES PURCHASE AGREEMENT
<TEXT>
<html><head><title>ghmp_ex101.htm</title><!--Document created using EDGARMaster--></head><body style="TEXT-ALIGN: justify; FONT: 10pt times new roman; MARGIN-LEFT: 7%; MARGIN-RIGHT: 7%"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;"><strong>EXHIBIT 10.1</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>SECURITIES PURCHASE AGREEMENT</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">This SECURITIES PURCHASE AGREEMENT (the &#8220;<strong>Agreement</strong>&#8221;) is made as of March 25, 2021 by and among <strong>GOOD HEMP, INC., </strong>a Nevada corporation, (the &#8220;<strong>Company</strong>&#8221;), and <strong>LEONITE CAPITAL LLC</strong>, a Delaware limited liability company (the &#8220;<strong>Purchaser</strong>&#8221;).</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>RECITAL</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">A. The Company and the Purchaser are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the &#8220;<strong>Securities Act</strong>&#8221;), and Rule 506(b) promulgated by the United States Securities and Exchange Commission (the &#8220;<strong>SEC</strong>&#8221;) under the Securities Act;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">B. The Purchaser desires to purchase from the Company, and the Company desires to issue and sell to the Purchaser, upon the terms and conditions set forth in this Agreement, a Senior Secured Convertible Promissory Note of the Company, in the aggregate principal amount of up to one million seven hundred four thousand five hundred forty five and 45/100 Dollars ($1,704,545.45) or so much as has been advanced in one or more tranches (the &#8220;<strong>Principal Amount</strong>,&#8221;) and together with any note(s) issued in replacement thereof or as a dividend thereon or otherwise with respect thereto in accordance with the terms thereof, in the form attached hereto as Exhibit A (the &#8220;<strong>Note</strong>&#8221;), upon the terms and subject to the limitations and conditions set forth in such Note;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">C. The Note carries an original issue discount of two hundred four thousand five hundred forty five and 45/100 Dollars ($204,545.45) (the &#8220;<strong>OID</strong>&#8221;), to cover the Purchaser&#8217;s accounting fees, due diligence fees, monitoring, and/or other transactional costs incurred in connection with the purchase and sale of the Note, which is included in the principal balance of the Note. Thus, the purchase price of this Note shall be one million five hundred thousand Dollars ($1,500,000), computed by subtracting the OID from the Principal Amount.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;">D. Company wishes to issue to the Purchaser, as additional consideration for the purchase of the Note, (i) warrants in the form attached hereto as Exhibit B to purchase shares of the Company&#8217;s common stock at an exercise price of $0.75 per share (the &#8220;<strong>Warrants</strong>&#8221;); and (ii) shares of the Company&#8217;s common stock (the &#8220;<strong>Equity Interest</strong>&#8221;), both of which shall be issued to Purchaser upon Closing (defined below) as further provided herein.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>AGREEMENT</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;"><strong>NOW, THEREFORE</strong>, in consideration of the foregoing, and the representations, warranties, covenants and conditions set forth below, the Company and the Purchaser, intending to be legally bound, hereby agree as follows:</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>1. AMOUNT AND TERMS OF THE NOTE</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:justify;"><strong>1.1 Purchase of the Note</strong>. Subject to the terms of this Agreement, for consideration of up to one million five hundred thousand Dollars ($1,500,000) in cash (the &#8220;<strong>Consideration</strong>&#8221;) to be paid in one or more tranches (each, a &#8220;<strong>Tranche</stron