The Greater Cannabis Company, Inc. entered into a definitive asset acquisition agreement to acquire Bud Bank, LLC from Sylios Corp (OTCPK:UNGS) on April 21, 2017. Under the terms, Greater Cannabis Company is obligated to pay Sylios a royalty of 10% of net sales proceeds generated by Bud Bank through its operations up to a total of $0.05 million and thereafter for perpetuity pay a royalty of 3% of net sales proceeds generated by Bud Bank through its operations. The transaction is expected to be completed not later than May 10, 2017. The Greater Cannabis Company, Inc. completed the acquisition of Bud Bank, LLC from Sylios Corp (OTCPK:UNGS) on June 19, 2017.