Notice of Termination of Definitive Share Purchase Agreement between Pure Harvest Corporate Group, Inc. and Kingpins International, Inc.
Pure Harvest Corporate Group, Inc. (PHCG) is notifying Kingpins International, Inc. that it is terminating their amended Definitive Share Purchase Agreement. Kingpins was required to purchase over 32 million shares of PHCG common stock for $15 million by October 7, 2021, with a 10-day grace period. Since PHCG did not receive the investment, this letter serves as formal notice of termination. PHCG reserves its rights regarding Kingpins’ breach but expresses willingness to resolve any future disputes amicably.
Pure Harvest Corporate Group, Inc.
7400 E. Crestline Cir.
Ste. 130
Greenwood Village, CO 80111
October 22, 2021
Kingpins International, Inc.
4530 East Ray Road
Ste. 172
Phoenix, AZ 85044
RE: Notice of Termination
Dear Mr. Holloway,
This letter is to notify you that Pure Harvest Corporate Group, Inc. (“PHCG”) is terminating the amended Definitive Share Purchase Agreement (the “Agreement”) between PHCG and Kingpins International, Inc.’s (“Kingpins”). Under the terms of the Agreement, Kingpins was to purchase thirty-two million nine hundred sixty-seven thousand and thirty-three (32,967,033) shares of PHCG common stock at a price of forty-five- and one-half cents ($0.455) per share for a total investment of fifteen million dollars ($15,000,000) on or before October 7, 2021 with a ten (10) day cure period.
As PHCG has not received the investment, this letter shall serve as written notice of PHCG’s termination of the Agreement pursuant to Section 11(a)(iii). PHCG expressly reserves all rights and remedies it may have in regard to Kingpins’ breach of the Agreement; however, I hope that we can reach an agreement to settle any future issues between our two companies.
Sincerely,
Matthew Gregarek, CEO
