Item 1.02 Termination of a Material De?nitive Agreement.






BCSF

As previously disclosed, on August 23, 2021, Puget Technologies, Inc. ("Puget" or the "Registrant") entered into an acquisition and option agreement with Ms. Yipsi Martin (the "BCSF Acquisition Agreement") pursuant to which it was anticipated that, subject to appropriate due diligence investigations, the Registrant would acquire a 50 percent interest in Behavioral Centers of South Florida LLC, a Florida limited liability company ("BCSF"), with an option to acquire the remaining 50 percent interest.

On December 2, 2021, the Registrant entered into a release agreement with BCSF under which the parties agreed to terminate the BCSF Acquisition Agreement effective December 4, 2021 (the "Release Agreement").

The foregoing description of the BCSF Acquisition Agreement and the Release Agreement are subject to, and qualified in their entirety by, the full text of the BCSF Acquisition Agreement, which was filed as Exhibit 10.01 to the Current Report on Form 8-K filed by the Registrant on August 27, 2021, and the full text of the Release Agreement, which is attached as Exhibit 99.01 hereto, and each of which is incorporated herein by reference.





Glades

As previously disclosed, on October 28, 2021, the Registrant entered into a merger agreement and plan of reorganization (the "Glades Agreement") with a joint venture formed by Primary Medical Physicians, LLC, a Florida limited liability, Personal Care Medical Group, LLC, a Florida limited liability company, and, Glades Medical Centers LLC, a Florida limited liability company using Glades Medical Centers of Florida, LLC, a Florida limited liability company as the joint venture vehicle all four entities being collectively referred to in this Current Report as "Glades." The Glades principals involved included Messrs. Carlos H. Arce, Esquire, Robbie Chamoun and Daniel Sierra, and, Ramon A. Berenguer, MD. Until his recent resignation described below, Mr. Arce also served as the general counsel, chief compliance officer, secretary and vice president of the Registrant.

The Registrant's president, Karen Lynn Fordham, and the chairman of its board of directors, Hermann Burckhardt, conducted diligence and subsequently the parties decided to terminate the Glades Agreement. On December 3, 2021, the Glades principals indicated their intent to end negotiations by way of a letter addressed to the Registrant. Ms. Fordham and Mr. Burckhardt then responded to the December 3 letter on December 8, 2021, indicating that the Registrant consented to the termination of the Glades Agreement in accordance with Paragraph 7.1(A) thereof.

Item 5.02 Departure of Directors or Certain O?cers; Election of Directors;


           Appointment of Certain O?cers; Compensatory Arrangements of Certain
           O?cers.




(b) Departure of Officer

The disclosure set forth above in Item 1.02 of this Current Report on Form 8-K under the caption "Glades" is incorporated by reference herein. On December 3, 2021, Carlos H. Arce, Esquire resigned from his positions with Puget as its general counsel, chief compliance officer, secretary and vice president. The Registrant is actively searching for legal counsel to represent it moving forward in a permanent fashion.

Thomas M. Jaspers, a member of the Registrant's board of directors, its treasurer and chief financial officer and its former secretary has been elected as the Registrant's interim secretary in replacement of Mr. Arce.

Section 9 - Financial Statements and Exhibits Item 9.01 Financial Statements and Exhibits.





                                  Exhibit Index

Exhibit  Description
Number
99.01      Release Agreement dated December 2, 2021 between the Registrant and
         Behavioral Centers of South Florida LLC  .

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