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EX-10.01 - EXHIBIT 10.01 - Mountain High Acquisitions Corp.myhi0709form8kexh10_01.htm

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): July 9, 2015 (June 30, 2015)

 

Mountain High Acquisitions Corp.

(Exact name of registrant as specified in its charter)

 

Colorado   333-175825   27-3515499
(State or other jurisdiction   (Commission File Number)   (IRS Employer
of Incorporation)       Identification Number)
         

 

1624 Market Street, Suite 202

Denver, Colorado 80202

(303) 544-2115

 (Address, including zip code, and telephone number, including area code,

of registrant's principal executive offices)

 

 

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))

 

 
 

MOUNTAIN HIGH ACQUISITIONS CORP.

Form 8-K

Current Report

 

1.02 Termination of a Material Definitive Agreement

 

On March 31, 2015, Mountain High Acquisitions Corp., a Colorado corporation (the “Company”) entered into a share exchange agreement (“Share Exchange Agreement”) with Freedom Seed & Feed, Inc., a Nevada corporation (“FSF”), the shareholders of FSF and various shareholders of MYHI. Pursuant to the terms of the agreement, the Company agreed to purchase all issued and outstanding shares of FSF (the “Transaction”).

 

On June 30, 2015, the Company and FSF agreed to rescind and terminate the Share Exchange Agreement. On July 6, 2015, the Company entered into a Rescission Agreement with the FSF. Pursuant to the terms of the Rescission Agreement, we mutually agreed to terminate the Share Exchange Agreement and to terminate and rescind in its entirety the Transaction.

 

ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

 

Resignation

 

Effective June 30, 2015, Ms. Teri Vries resigned as the current President and Chief Executive Officer of the Company. The resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Ms. Vries will remain as a member of the Company’s board of directors.

 

Appointment

 

On June 30, 2015, Mr. Alan Smith was appointed to serve as the Company’s interim President and Chief Executive Officer, Mr. Smith accepted such appointment.

 

The biography for Mr. Smith is set forth below:

 

Mr. Alan Smith – Mr. Smith the Company’s former CEO and President, currently serves as a member of the Company’s board of directors. Additionally, Mr. Smith was President and CEO of Avid Management Corporation, provided independent financial consulting services to a variety of startup and development stage companies in the technology, resource and consumer products sectors. These services have included corporate reorganizations and restructuring, the development of internal systems and controls and assistance with financing in both the private and public markets. He has also been an active investor in a number of startup ventures while managing his own personal equity portfolio. Mr. Smith is a Chartered Accountant and has provided audit, tax and financial consulting services to a wide variety of small to medium sized companies during his 35 year career. During this period, Mr. Smith became known for his proficiency in negotiating highly advantageous acquisitions, reorganizing operations, improving efficiencies, and establishing financial controls. The primary focus of Mr. Smith’s career however, has been the successful restructuring of companies in transition and leading the development of business plans to assist them in procurement of short to medium term financing, many through public offerings. Mr. Smith obtained his Chartered Accountant designation in 1978 from the Institute of Chartered Accountants of Ontario. He was also a member of the Institute of Chartered Accountants of British Columbia from 1980 until his retirement in 1999. Additionally, Mr. Smith earned a Master’s Degree in Business Administration in 1975 from Queen’s University at Kingston, Ontario and a Bachelor of Applied Science (Civil Engineering) in 1973, also from Queen’s University.

 

Family Relationships

 

Mr. Smith is not related to any Officer or Director of the Company.

 

Related Party Transactions

 

There are no related party transactions reportable under Item 5.02 of Form 8-K and Item 404(a) of Regulation S-K.

 

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

 

(a) Financial Statements.

 

(d)       Exhibits. The following exhibits are either filed as a part hereof or are incorporated by reference. Exhibit numbers correspond to the numbering system in Item 601 of Regulation S-K.

 

Exhibit  
Number Description of Exhibit
10.01 Rescission Agreement

 

 
 

SIGNATURE

 

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

 

         
 

MOUNTAIN HIGH ACQUISITIONS CORP.

  

Date: July 9, 2015 By:   /s/ Alan Smith                      
    Alan Smith
    Chief Executive Officer