10/02/2024 | Press release | Distributed by Public on 10/02/2024 04:40
ITEM 1.01ENTRY INTO MATERIAL DEFINITIVE AGREEMENT
On September 20, 2024, Hallmark Venture Group, Inc. entered into a Debt Cancellation Agreement with Archer & Greiner, P.C., and a total of $243,000 of legacy legal debts were canceled.
On September 26, 2024, Hallmark Venture Group, Inc. (the "Company") and its Board of Directors of the Company approved the following; i) Agreement and Plan of Reorganization; ii) Change of Control Agreement; iii) Escrow Agreement, iv) Anti-Dilution Agreement; v) Cancellation of the 10/06/2022 Selkirk Global Holdings, LLC Note; vi) Cancellation of the 04/06/2023 Selkirk Global Holdings, LLC Note, vii) Cancellation of the 12/12/2023 Strickland Convertible Exchange Note; viii); ix); xi) the Company authorized its Secretary to open a bank account in the name of the Company.
A copy of the aforementioned documents which are filed as Exhibits hereto and incorporated by reference in this Current Report on Form 8-K.