CURE PHARMACEUTICAL HOLDING CORP. : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)

Item 1.01 Entry Into a Material Definitive Agreement.

As previously reported, on October 30, 2020, CURE Pharmaceutical Holding Corp. (the "Company") entered into a Securities Purchase Agreement, by and between the Company and an institutional investor (the "Investor"), pursuant to which, among other things, the Company sold, and the Investor, in its capacity as a buyer thereunder, purchased, among other things, a Series B Senior Secured Convertible Note, dated October 30, 2020, with an initial aggregate principal amount of $6,900,000 (the "Series B Note"). The maturity date of the Series B Note was October 30, 2021 (the "Maturity Date"), and the Company failed to repay the Series B Note when due. On November 3, 2021 the Company received an Event of Default Redemption Notice from the Investor citing non-payment of the maturity amount, and requesting payment of a default amount, including penalties (the "Event of Default Redemption Notice").

On January 5, 2022, the Company entered into a Forbearance Agreement (the "Forbearance Agreement") with the Investor pursuant to which the Investor has agreed not to exercise, with certain exclusions, any of its judicial or administrative enforcement actions to obtain cash or other assets (excluding Common Stock or other assets issuable upon conversion or exchange of the Series B Note in accordance with the terms thereof) from the Company on account of any payment obligations of the Company under the Series B Note or the Event of Default Redemption Notice that exist as of the date of the Forbearance Agreement or that may arise from the date of this Agreement through February 15, 2022.

The above description of the Forbearance Agreement is qualified in its entirety by reference to the Forbearance Agreement, a copy of which is filed as Exhibit 1.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.



Exhibit No.   Description
  10.1          Forbearance Agreement.
104           Cover Page Interactive Data File (embedded within the Inline XBRL
              document)





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