American Cannabis enters binding LOI to acquire Credex Corp.; appoints Joseph Cleghorn CEO/interim CFO/Director

American Cannabis Company, Inc.

Binding LOI to acquire all assets and assume specified debts of Credex Corp.; purchase consideration to be determined post-due diligence.
Joseph Cleghorn appointed CEO, interim CFO, and Director effective Nov 11, 2024, formalized with a one-year employment contract.
Cleghorn's contract waives all cash and equity compensation; only health and life insurance premiums are reimbursed.
LOI includes 60-day due diligence period, binding exclusivity and confidentiality provisions; transaction not yet definitive.
Cleghorn signed LOI as Chairman of Credex, indicating both buyer and seller representation.

item 1.01 item 5.02 item 9.01

Executive movements

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Appointed

Joseph Cleghorn

Director

American Cannabis Company, Inc.

Effective: 2024-11-11
Filed: November 21, 2024, 6:59 PM ET

Effective November 11, 2024, the Company appointed Mr. Joseph Cleghorn as Chief Executive Officer, interim Chief Financial Officer, and Director.

Appointed (interim)

Joseph Cleghorn

interim Chief Financial Officer

American Cannabis Company, Inc.

Effective: 2024-11-11
Filed: November 21, 2024, 6:59 PM ET

Effective November 11, 2024, the Company appointed Mr. Joseph Cleghorn as Chief Executive Officer, interim Chief Financial Officer, and Director.

Appointed

Joseph Cleghorn

Chief Executive Officer

American Cannabis Company, Inc.

Effective: 2024-11-11
Filed: November 21, 2024, 6:59 PM ET

Effective November 11, 2024, the Company appointed Mr. Joseph Cleghorn as Chief Executive Officer, interim Chief Financial Officer, and Director.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Joseph Cleghorn was appointed as Director at American Cannabis Company, Inc..

Action: appointed
Role: Director

Exact text from the filing

Effective November 11, 2024, the Company appointed Mr. Joseph Cleghorn as Chief Executive Officer, interim Chief Financial Officer, and Director.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Joseph Cleghorn was appointed as interim Chief Financial Officer at American Cannabis Company, Inc..

Action: appointed
Role: interim Chief Financial Officer

Exact text from the filing

Effective November 11, 2024, the Company appointed Mr. Joseph Cleghorn as Chief Executive Officer, interim Chief Financial Officer, and Director.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Joseph Cleghorn was appointed as Chief Executive Officer at American Cannabis Company, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

Effective November 11, 2024, the Company appointed Mr. Joseph Cleghorn as Chief Executive Officer, interim Chief Financial Officer, and Director.

View on SEC.gov

Source: SEC EDGAR

accession 0001903596-24-000686

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