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EX-10 - DigitalTown, Inc.rezservespav3clean.htm



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:  September 14, 2016
(Date of earliest event reported)

DigitalTown, Inc.
(Exact name of registrant as specified in its charter)

 

MN
(State or other jurisdiction
of incorporation)

000-27225
(Commission File Number)

411427445
(IRS Employer
Identification Number)

 

10655 NE 4th St.

Bellevue, WA

 

98004 (Zip Code)


(425) 318-3888
(Registrant's telephone number, including area code)

 


(Former Name or Former Address, if changed since last report)



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:

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

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

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

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






Section 1 – Registrant’s Business and Operations


Item 1.01 Entry into Definitive Agreement


On September 13, 2016, the Company entered into a Stock Purchase Agreement with Clint Skidmore and Kaiyaco Ventures Ltd (“Sellers”).  Sellers are the owners of 100% of the issued and outstanding stock of Rezserve Technologies, Ltd., a British Columbia company (“Rezserve”), in consideration of $1,600,000, payable in the form of the issuance of 3,000,000 shares of common stock and a convertible note for $400,000.  The convertible note does not earn interest and is payable one year from the date of issuance.  The holders of the note may convert the amount due into shares of the Company’s common stock.  The Agreement closed September 14, 2016.


Section 9 Exhibits and Financial Statements


Item 9.01 Exhibits


Exhibit 10.1

Stock Purchase Agreement


SIGNATURES


Dated: September 15, 2016

DIGITALTOWN, INC




By: /s/ Robert S. Monster
     Robert W. Monster, CEO