other material
confidence high
sentiment neutral
materiality 0.30
Can B Corp subsidiary enters month-to-month lease for hemp processing facility at $22,250/mo
Can B Corp
- CO Botanicals, LLC (wholly-owned subsidiary of Can B Corp) leases two Fort Morgan, CO properties from Sunflower Bank, N.A.
- Lease effective Sept 1, 2021, month-to-month term, cancellable by either party with 30 days' notice.
- Base rent $22,250/month plus $22,250 security deposit; unpaid amounts accrue 18% interest.
- Tenant responsible for routine maintenance, utilities, personal property taxes, and insurance ($2M aggregate liability).
- Premises used exclusively for processing and storage of industrial hemp.