Panacea Life Sciences agrees to repay $385K convertible note via cash and equity conversion

PANACEA LIFE SCIENCES HOLDINGS, INC.

Company to pay $135,000 funded under CEO line of credit on Feb 13, 2023; $100,000 by June 30, 2023.
Conversion of 540,000 common shares at fixed price of $0.25 per share to satisfy remaining balance.
Note Payoff Agreement dated Feb 9, 2023 amends prior Share Exchange Agreement from March 2022.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

PANACEA LIFE SCIENCES HOLDINGS, INC. entered into Share Exchange Agreement with institutional investor valued at Exchange of 350 shares of Series A Preferred Stock for Senior Convertible Note of $385,000, subseque (effective 2022-03-03).

Action: entry
Counterparty: institutional investor
Value: Exchange of 350 shares of Series A Preferred Stock for Senior Convertible Note of $385,000, subseque
Effective: 2022-03-03

Exact text from the filing

On March 3, 2022, Panacea Life Sciences Holdings, Inc. (the “Company”) entered into a Share Exchange Agreement with an institutional investor (the “Investor”) pursuant to which the Investor exchanged 350 shares of the Company’s Series A Preferred Stock, par value $0.0001, for a Senior Convertible Note dated March 3, 2022 in the principal amount of $385,000, as amended (the “Note”).

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Source: SEC EDGAR

accession 0001493152-23-004634

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