Clean Vision settles litigation with former executive Christopher Percy; issues shares and receives $150,000

Clean Vision Corp

Settlement agreement with Christopher Percy resolves lawsuit filed Sept 2022, no admission of fault.
Percy pays $150,000 to Clean Vision; CEO Daniel Bates pays $25,000 to Percy.
Company to issue 1.5M new shares, restore 3M cancelled shares, and lift stop-transfer on 4.2M shares.
Percy agrees not to sell more than 10% of daily trading volume per day.
Parties file stipulation to dismiss all claims with prejudice; mutual release.

Key facts

Extracted from this filing and checked against the source text.

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

Clean Vision Corp entered into Settlement Agreement and Mutual Release with Christopher Percy and Daniel Bates valued at $150,000 (effective 2023-07-03).

Action: entry
Agreement: settlement
Counterparty: Christopher Percy and Daniel Bates
Value: $150,000
Effective: 2023-07-03

Exact text from the filing

On July 3, 2023, Clean Vision Corporation (the “Company”) entered into a Settlement Agreement and Mutual Release (the “Settlement Agreement”) by and between the Company, Christopher Percy and Daniel Bates whereby the parties agreed to a global settlement to a lawsuit filed by the Company against Mr. Percy in September 2022 in Clark County, Nevada in the Eighth Judicial District Court (Case No: A-22-85843-B), with the case being subsequently removed to the United States District Court, District of Nevada (2:22-cv-01862-ART-NJK) and thereafter, Mr. Percy counterclaimed against Clean Vision and brought third-party claims against Mr. Bates (the “Litigation”).

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Source: SEC EDGAR

accession 0001903596-23-000529

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