Attached files

file filename
EX-10.29 - MEMBERSHIP INTEREST PURCHASE AGREEMENT BETWEEN REGISTRANT AND AJE MANAGEMENT, LL - GB SCIENCES INCex_198533.htm
10-K - FORM 10-K - GB SCIENCES INCgblx20200331_10k.htm
EX-10.37 - 8% PROMISSORY NOTE PAYABLE TO AJE MANAGEMENT, LLC DATED DECEMBER 3, 2020 - GB SCIENCES INCex_198693.htm
EX-10.36 - LOAN AGREEMENT BETWEEN REGISTRANT AND AJE MANAGEMENT, LLC DATED DECEMBER 3, 2019 - GB SCIENCES INCex_198694.htm
EX-10.35 - SECOND AMENDED AND RESTATED PROMISSORY NOTE BETWEEN REGISTRANT AND CSW VENTURES, - GB SCIENCES INCex_198687.htm
EX-10.34 - SECOND AMENDMENT TO NOTE DOCUMENTS BETWEEN REGISTRANT AND CSW VENTURES, LP DATED - GB SCIENCES INCex_198685.htm
EX-10.33 - AMENDMENT TO PROMISSORY NOTE BETWEEN REGISTRANT AND CSW VENTURES, LP DATED OCTOB - GB SCIENCES INCex_198656.htm
EX-10.32 - FIRST AMENDED PROMISSORY NOTE BETWEEN REGISTRANT AND CSW VENTURES, LP - GB SCIENCES INCex_198595.htm
EX-10.31 - AMENDMENT TO NOTE DOCUMENTS BETWEEN REGISTRANT AND CSW VENTURES, LP DATED JULY 1 - GB SCIENCES INCex_198593.htm
EX-10.30 - MANAGEMENT SERVICES AGREEMENT BETWEEN REGISTRANT AND AJE MANAGEMENT, LLC DATED D - GB SCIENCES INCex_198548.htm
EX-32.2 - EXHIBIT 32.2 - GB SCIENCES INCex_187212.htm
EX-32.1 - EXHIBIT 32.1 - GB SCIENCES INCex_187211.htm
EX-31.2 - EXHIBIT 31.2 - GB SCIENCES INCex_187210.htm
EX-31.1 - EXHIBIT 31.1 - GB SCIENCES INCex_187209.htm
EX-21.1 - SUBSIDIARIES OF GB SCIENCES, INC. - GB SCIENCES INCex_187208.htm
EX-4.6 - EXHIBIT 4.6 DESCRIPTION OF REGISTRANT'S SECURITIES - GB SCIENCES INCex_199371.htm
EX-3.4 - EXHIBIT 3.4 AMENDMENT TO ARTICLES OF INCORPORATION - GB SCIENCES INCex_199385.htm
EX-3.3 - EXHIBIT 3.3 ARTICLES OF INCORPORATION - GB SCIENCES INCex_199384.htm

 

PROMISSORY NOTE

 

Borrower:    GB Sciences, Inc.

3550 W. Teco Ave.
Las Vegas, NV 89118

 

Lender:     John B. Davis

2644 Fairway Drive

Baton Rouge, LA 70809

 

Principal Amount:     $151,923.07

 

Effective Date:     November 15, 2019

 

 

1.

For value received, the Borrower promises to pay the Lender at the address identified above or as may be provided in writing to the Borrower, the principal sum of $151,923.07.

 

 

2.

This Note shall be repaid in installments as follows:

 

 

$51,923.07 on or before December 12, 2019; and

 

 

$100,000.00 on or before five business days after the first cash payment in excess of $100,000.00 that Borrower receives from Wellcana Plus, LLC, per the promissory note between Borrower and Wellcana Plus, LLC, dated on or about November 15, 2019. Borrower agrees to permit Wellcana Plus, LLC, or its designee, to deduct $100,000.00 from the first cash payment identified above and pay that amount directly to Lender.

 

 

3.

Should Borrower default on the December 12, 2019 installment, Borrower shall be liable to Lender either for ninety days wages at Lender’s daily rate of pay ($37,500.00), or else for full wages per day ($416.66) from December 12, 2019, until Borrower shall pay or tender the December 12, 2019 installment, whichever is the lesser amount of this penalty.

 

 

4.

Should Borrower default on full and final payment of the outstanding balance of $100,000.00, a 10% penalty shall be applied to the outstanding balance.

 

 

5.

All costs, expenses and expenditures including, and without limitation, the complete legal costs incurred by the Lender in enforcing this Note as a result of any default of the Borrower, will be added to the principal then outstanding and will immediately be paid by the Borrower.

 

 

 

 

 

 

6.

If any term, covenant, condition or provision of this Note is held by a court of competent jurisdiction to be invalid, void or unenforceable, it is the parties’ intent that such provision be reduced in scope by the court only to the extent deemed necessary by that court to render the provision reasonable and enforceable and the remainder of the provisions of this Note will in no way be affected, impaired or invalidated as a result.

 

 

7.

This Note will be construed in accordance with the laws of the State of Louisiana.

 

 

8.

This Note will inure to the benefit of and be binding upon the respective heirs, executors, administrators, successors and assigns of the Borrower and the Lender.

 

 

9.

Except for a suit to enforce the Borrower’s promises and obligations contained in this Note, in consideration of Borrower issuing this Note, Lender further agrees, promises and covenants that neither he, nor any person, organization, or any other entity acting on his behalf (the “Lender Parties”), will file, charge, claim, sue or cause or permit to be filed, charged or claimed, any action for damages or other relief (including injunctive, declaratory, monetary relief or other) against Borrower or any of its subsidiaries, contractors, advisors, officers, directors, employees or shareholders (the “Borrower Parties”), involving any matter, cause or thing whatsoever, occurring in the past up to the effective date of this Note or involving any continuing effects of actions or practices which arose prior to the effective date of this Note or the termination or resignation of the Lender’s employment (the “Prior Obligations”), and the Lender Parties hereby release and discharge the Borrower Parties from the Prior Obligations, if any.

 

 

0.

Lender and Borrower hereby waive the right to any jury trial in any action, proceeding, or counterclaim brought by either Lender or Borrower against the other.

 

IN WITNESS WHEREOF, this Note has been agreed upon, executed and delivered on the date specified above by the Lender and the duly authorized representative of the Borrower.

 

Borrower:

 

GB Sciences, Inc.

 

By: /s/ John Poss

 

CEO and Chairman

 

 

Lender:

 

John B. Davis

 

By: /s/ John B. Davis