*NEWS* !! Press Release out Link "Cerebain

Quote:

---

" Cerebain Biotech Provides Update on Share Exchange Agreement With PKG, Inc .

Cerebain Biotech Corp. (OTC: CBBT) (the “Company” or “Cerebain”) today provided an update pertaining to the Share Exchange Agreement with PKG, Inc., an Idaho Corporation (PKG) and the equity holders of PKG.

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. Cerebain has agreed to file a registration statement within 6 months of the closing to register the resale of the common stock issued to the PKG equity holders and to use its reasonable best efforts to have the registration statement declared effective, as soon thereafter as practicable.

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."

---