---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-040103"
form_type: "8-K/A"
ticker: "CBDY"
cik: "0001586554"
company_name: "Target Group Inc."
filed_at: "2023-03-31T23:59:59+00:00"
generated_at: "2026-06-17T07:52:28.578818+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Target Group receives additional CDN$500k loan from CEO's brother at 43.26% annual interest

## Summary
- Entered Eighth Amending Agreement; lender (brother of CEO) advanced additional CDN$500,000 under existing loan.
- Entire principal plus accrued interest due by September 28, 2023.
- Interest rate of 3.0416% per month (43.26% per annum).
- Lender's fee of CDN$50,000 deducted from advance.
- Loan is a related-party transaction; CEO Anthony Zarcone's brother is lender.

## SEC filing metadata
- accession: 0001104659-23-040103
- form_type: 8-K/A
- ticker: CBDY
- cik: 0001586554
- company_name: Target Group Inc.
- filed_at: 2023-03-31T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1586554/000110465923040103/0001104659-23-040103-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1586554/000110465923040103/tm2311193d1_8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-040103
- JSON: https://secwatch.observer/filing/0001104659-23-040103.json
- Plain text: https://secwatch.observer/filing/0001104659-23-040103.txt

## Key facts
- Debt Financings
  Target Group Inc. incurred loan of CDN$500,000.00 Advance with private individual who is the brother of the Company's Chief Executive Officer, Anthony Zarcone at 3.0416% per month (43.26% per annum) maturing September 28, 2023.
  - Instrument: loan
  - Principal: CDN$500,000.00 Advance
  - Counterparty: private individual who is the brother of the Company's Chief Executive Officer, Anthony Zarcone
  - Rate: 3.0416% per month (43.26% per annum)
  - Maturity: September 28, 2023
  - Event: incurrence
  source text: Effective March 28 2023, the Company and Lender entered into a Eighth Amending Agreement pursuant to which the Lender advanced the Company an additional CDN$500,000.00 (“Advance”) under the Original Loan.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1586554/000110465923040103/0001104659-23-040103-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.