Current Report Filing (8-k)
23 June 2023 - 8:03PM
Edgar (US Regulatory)
0001081938
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0001081938
2023-06-01
2023-06-01
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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 (Date of earliest event reported):
June 1, 2023
CannaPharmaRX, Inc.
(Exact name of registrant as specified
in its charter)
| Delaware |
333-251016 |
27-4635140 |
|
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer ID No.) |
Suite
3600, 888-3rd Street SW
Calgary,
Alberta, Canada
T2P5C5
(Address of principal executive offices,
including zip code)
(949) 652-6838
(Registrant’s Telephone Number,
including area code)
Not Applicable
(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:
☐
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))
Securities registered pursuant to Section 12(b)
of the Act: None
Securities registered pursuant to Section 12(g)
of the Act:
| Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
| Common Stock |
CPMD |
OTC Pink Sheets |
Indicate by check mark whether the registrant
is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b2 of the Securities Exchange Act of 1934 (§240.12b2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act.
| Item 5.02 |
Departure of Directors or Certain Officers;; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Appointment of Chief Executive Officer
Pursuant to notice provided on June 1, 2023, Dominic
Colvin stepped down as the Chief Executive Officer (“CEO”) of CannPharmaRX, Inc. (the “Company”) effective June
1, 2023. There was no disagreement between Mr. Colvin and the Company on any matter related to the Company’s operations, policies
or practices that led to Mr. Colvin’s resignation as CEO.
On June 1, 2023, the Company’s Board of
Directors appointed Dean Medwid as Chief Executive Officer. Mr. Medwid’s. Mr. Medwid is a dynamic senior operation executive with
more than 30 years of experience in both public and private markets with a focus on scalable process engineering, brand development and
strategic partnerships.
He has been recognized with numerous business
awards and accolades, including Profit 100’s Top 100 in Canada, five years in a row while a partner in Seattle’s Best Coffee,
additionally was a awarded the recognition of being one of Vancouvers Top 40 Under 40.
Mr. Medwid has a demonstrated history of increasing
corporate performance through the management of process design, customer relationships, strategic planning along with a focused initiative
of data-driven change management and utilized these skills as President of New Leaf Ventures, a publicly trade cannabis company with operations
in both Canada and the USA. He has been in the cannabis industry for several years focused on mergers and acquisitions and harnessing
the health and wellness benefits of plant material and distillates.
In connection with Mr. Medwid’s appointment
as CEO, the Company entered into an agreement with Mr. Medwid (the “Employment Agreement”), setting forth the terms of his
employment and compensation. Pursuant to the Employment Agreement, effective June 1, 2023, Mr. Medwid will receive a base salary of up
to CDN $17,325.00 per month. Further, Mr. Medwid is entitled to annual bonuses as recommended by the Board of Director’s Compensation
Committee and other reimbursement of certain expenses.
The description of the Employment Agreement does
not purport to be complete and is qualified in its entirety by reference to the Employment Agreement, a copy of which is filed as Exhibit
10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
There are no other arrangements or understandings
between Mr. Medwid and any other persons pursuant to which Mr. Medwid was appointed as the Company’s Chief Executive Officer. There
are no family relationships between Mr. Medwid and any director or executive officer of the Company, and he has no direct or indirect
material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
| Item 9.01. | Financial Statements and Exhibits. |
(c) Exhibits.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned, hereunto duly
authorized.
| |
CANNAPHARMARX, INC. |
| |
|
| June 23, 2023 |
By: |
/s/ John Cassels |
| |
|
John Cassels
Chief Financial Officer |
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