Cann American Corp.: M&A transaction — Cann American completes acquisition of Prodigy Stem Cell; appoints founder as director

Cann American Corp.

Entered binding LOI on Jan 30, 2023 to acquire Prodigy Stem Cell, LLC as wholly owned subsidiary.
Acquisition completed on March 1, 2023; Prodigy becomes wholly owned subsidiary.
Prodigy Stem Cell focuses on sales, marketing, and consulting for regenerative medicines.
Peter Caruso, founder of Prodigy, appointed as director effective March 1, 2023.

item 1.01 item 2.01 item 5.02

Executive movements

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Appointed

Peter Caruso

Director

Cann American Corp.

Effective: 2023-03-01
Filed: March 16, 2023, 7:59 PM ET

On March 1, 2023, the Company appointed Peter Caruso as a Director of the Company.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Peter Caruso was appointed as Director at Cann American Corp..

Action: appointed
Role: Director

Exact text from the filing

On March 1, 2023, the Company appointed Peter Caruso as a Director of the Company.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Cann American Corp. completed an acquisition involving Prodigy Stem Cell, LLC (closed 2023-03-01).

Action: acquisition
Counterparty: Prodigy Stem Cell, LLC
Closing: 2023-03-01

Exact text from the filing

On March 1, 2023, the Company completed the acquisition of Prodigy Stem Cell, LLC as a wholly owned subsidiary.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cann American Corp. entered into Binding Letter of Intent with Prodigy Stem Cell, LLC (effective 2023-01-30).

Action: entry
Agreement: merger
Counterparty: Prodigy Stem Cell, LLC
Effective: 2023-01-30

Exact text from the filing

Item 1.01 Entry into a Material Definitive Agreement. On January 30, 2023, the Company entered into a Binding Letter of Intent to acquire Prodigy Stem Cell, LLC as a wholly owned subsidiary of the Company.

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Source: SEC EDGAR

accession 0001683168-23-001536

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