M&A: LUDWIG ENTERPRISES, INC.

Form Type: 8-K

Filing Date: 2025-01-07

Corporate Action: Merger

Type: New

Accession Number: 000121390025001275

Comments: Ludwig Enterprises, Inc. entered into a Stock Purchase Agreement (the 'Exousia SPA') with Marijuana, Inc. on December 31, 2024. Under this agreement, Marijuana, Inc. will acquire 100% ownership of Exousia Ai, Inc., a subsidiary of Ludwig Enterprises, for $500,000. The payment will be made through the delivery of 47,000,000 shares of common stock of Marijuana, Inc. and a promissory note of $100,000 that bears an interest of 8% annually, due by December 31, 2025. There is a lock-up provision for the shares until six months after the uplisting of Marijuana, Inc.'s stock to a specified market. The Board of Directors decided to divest Exousia in favor of focusing resources on the company's Revealia test kit products. The closing of the transaction under the Exousia SPA was completed on January 1, 2025.

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