Item 1.01 Entry into a Material Definitive Agreement.

On May 18, 2022, GCAN and FirstFire Global Opportunities Fund, LLC ("FFG") entered into an amendment (the "Amendment"), effective May 1, 2022 , to that certain Amended Securities Purchase Agreement originally dated March 11, 2021 and amended June 7, 2021 (as amended, the "SPA") and other Transaction Documents (as hereinafter defined). Pursuant to the SPA, the Company issued to FFG (a) a Convertible Promissory Note dated March 11, 2021 in the original principal amount of $272,500 (the "First Note"); (b) a Convertible Promissory Note dated June 28, 2021 in the original principal amount of $272,500 (the "Second Note," and together with the First Note, collectively, the "Notes"); and (c) certain warrants to purchase the Company's common stock (the "Warrants," and together with the SPA, the Notes and all other related documents referenced therein, collectively, the "Transaction Documents").





Pursuant to the Amendment:



  ? The Maturity Date of each of the Notes was extended to April 30, 2023.

  ? FFG waives and Events of Default (as defined in the Notes) as of May 1, 2022
    (including any events as of the date hereof which would become Events of
    Default with only the passage of time) under the Notes and the other
    Transaction Documents, provided, however, that the waiver shall did not apply
    to FFG's ability to calculate a Default Conversion Rate (as defined and
    provided for in Section 1.2(a) of the Notes).

The above summary of the Amendment is qualified in its entirety by reference to the copy of the Amendment filed as Exhibit 10.1 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           Amendment No.1 to Transaction Documents, effective May 1, 2022
104          Cover Page Interactive Data File (embedded within the Inline XBRL
             document)

© Edgar Online, source Glimpses