Each one in plain English, with the numbers worked through for a shareholder.
22 June 2017bylaws amendment● NeutralMajor
Renamed itself Cannabis Leaf Incorporated by merging a shell subsidiary of that name into itself - a paperwork device that needed no shareholder vote - and at the same time multiplied its shares six-for-one and raised its authorised capital. The mineral-exploration identity was formally dropped for a cannabis one.
Converted the March letter of intent into a definitive exclusive licence with Affordable Green Washington, due $25,000 on signing, $100,000 by end of May and $2 million by 30 September 2017. Director Wan Soo Lee resigned the same day.
Pacificorp Holdings - a Nevada shell incorporated in 2014 to explore mineral properties, with no mining ever done - signed a letter of intent to license Affordable Green Washington's marijuana products and marketing model for Washington State, promising $2.1 million in stages. The first move in a three-year hunt for a business to be in.