secwatch.observer — SEC 8-K summary
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Issuer:     CFN Enterprises Inc. (CNFN)
CIK:        0001352952
Form:       8-K
Filed at:   2021-08-31T23:59:59+00:00
Accession:  0001096906-21-002203
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.01, 3.02, 5.02, 5.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CFN Enterprises acquires CNP Operating for 354M shares; appoints new officers
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- Acquired 100% of CNP Operating, a rare cannabinoids manufacturer, for 354 million shares of common stock.
- Acquisition closed August 25, 2021; shares issued under Section 4(a)(2) with 12-month lock-up and further 12-month restrictions.
- Entered employment agreements with Brian Ross (CEO), Mario Marsillo (CIO), Vince Kandis (Pres of CNP Op), Spiro Kandis (CPO), and John Rand (EVP of Finance) through Dec 31, 2026.
- Base salaries: Ross, V. Kandis, S. Kandis $300k; Marsillo $265k; Rand $160k; plus annual raises and bonuses up to 100% (30% for Rand).
- Severance: if terminated w/o cause, greater of remaining payments or one year salary; confidentiality & assignment provisions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1352952/000109690621002203/0001096906-21-002203-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1352952/000109690621002203/cnfn-20210831.htm
  HTML page:      https://secwatch.observer/filing/0001096906-21-002203

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer