Addendum to Agreement and Plan of Merger by and among Total Sports Media, Inc. (the Company), F Squared Hemp Inc. and FSH Merger Sub, LLC
EXHIBIT 2.2
ADDENDUM TO AGREEMENT AND PLAN OF MERGER
BY AND AMONG TOTAL SPORTS MEDIA, INC., FSH MERGER SUB, LLC. AND
F SQUARED HEMP, INC. DATED MARCH 8, 2019
This Addendum dated March 8, 2019 and executed contemporaneously with and incorporated by reference to the above referenced.
Upon execution of this Addendum Section 2.4(a)(iii)(i) shall read:
“Milestone 1- Achieving $10 million in sales prior to September 30, 2019 or a minimum gross profit of $500,000;”
And
Section 2.4(a)(iii)(ii) shall read:
“Milestone 2- Achieving $30 million in revenue prior to December 31, 2019 or a minimum gross profit of $1,500,000”
Section 2.4(a)(v) shall read:
F Squared Hemp shall facilitate $125,000 to fund the operations related to TSMI compliance and reporting. FSH shall facilitate this funding as quickly as possible on the following proposed schedule of a minimum of $75,000 within 10 days from the execution of this agreement and the remaining $50,000 within 30 days to fund TSMI’s compliance and reporting payables.
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date first above written.
TSMI: | TOTAL SPORTS MEDIA, INC. | ||
| By: | ||
Name: | Michael Hill | ||
Title: | Chief Executive Office |
MERGER SUB: | FSH MERGER SUB, LLC. | ||
| By: | ||
Name: | Michael Hill | ||
Title: | Chief Executive Office |
F SQUARED HEMP: | F SQUARED HEMP, INC. | ||
| By: | ||
Name: | John Flynn | ||
Title: | President and Chief Executive Officer |