Cerebain Biotech Corp. (OTCPK:CBBT) entered into a Letter of Intent to acquire Assets of PKG, Inc. on August 25, 2020. Pursuant to the Share Exchange Agreement, signed on February 12, the purchase price for PKG is approximately $2.34 Million payable in shares of Cerebain’s common stock at a price of $0.07 per share or an aggregate of approximately 33.47 Million shares. The Share Exchange Agreement requires Cerebain to pay off certain PKG liabilities in the amount of approximately $3.91 Million. Cerebain will have this amount paid on or before May 5, 2021. Approximately $1.61 Million in liabilities will remain on the books of PKG after the aforementioned payments are completed. During the term of the negotiation of the Share Exchange Agreement, Cerebain has paid an aggregate of $1,275,000 to PKG to pay certain liabilities.