News Column

CLEAN ENVIRO TECH CORP FILES (8-K) Disclosing Other Events

May 30, 2014

Item 8.01 Other Events

On May 30, 2014, the registrant entered into a letter of intent pursuant to which it will acquire all of the issued and outstanding common shares of Red Apple Pharms Corp. (RAPCO) for 80,000,000 common shares of the registrant, subject to shareholders approval and a due diligence period of 60 days with closing on or before July 30, 2014. RAPCO currently operates an ISP for cannabis news, law changes, both state and federal strains and television productions through Cannabis planet TV. Additionally, RAPCO provides support services relating to banking, debit cards, insurance and licensing requirements of operating Colorado cannabis groups and dispensaries. Gordon F. Lee is an officer, director and majority shareholder of RAPCO. Also Subject to shareholder approval the Company will file to increase the authorized to 110,000,000 shares on or before closing.

Clean Enviro Tech Corp will compensate Gordon F. Lee$20,000 per month in advance.

The company has agreed with creditors owed approximately $400,000 to satisfy this debt by issuing shares at $0.05 per share

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Edgar Glimpses

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters