{"url_path":"/sec/gcan/8-k/2026-07-06/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 Entry into a Material Definitive Agreement**","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-06","source_url":"https://www.sec.gov/Archives/edgar/data/1695473/0001493152-26-032191-index.html","accession_number":"0001493152-26-032191","cik":"0001695473","ticker":"GCAN","issuer_name":"Greater Cannabis Company, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1695473/0001493152-26-032191-index.html","primary_entity_key":"0001695473","primary_entity_name":"Greater Cannabis Company, Inc."},"word_count":281,"has_tables":true,"body_markdown":"**Item\n1.01 Entry into a Material Definitive Agreement**\n\n** **\n\nOn\nJune 29, 2026, Trafalgar Asset Management, LLC, a Delaware limited liability company owned and controlled by Porfirio Sanchez Talavera\n(the “Controlling Shareholder”) purchased (i) 7,628,665 shares of Series A Preferred Stock constituting 100% of the issued\nand outstanding Series A Preferred Stock; and (ii) 1,000 shares of Series B Preferred Stock constituting 100% of the issued and outstanding\nSeries B Preferred Stock (collectively, the “Share Purchase”) from preferred shareholders of The Greater Cannabis\nCompany, Inc. (the “Company”). Through the Controlling Shareholder’s ownership of all outstanding shares\nof the Company’s Series A Preferred Stock and Series B Preferred Stock, Trafalgar Asset Management, LLC possesses approximately\n96.62% of the aggregate voting power of the Company’s outstanding voting securities as of June 29, 2026, based upon 994,379 shares\nof Common Stock outstanding, each share of Series A Preferred Stock being entitled to 1.76 votes per share, and the outstanding shares\nof Series B Preferred Stock collectively being entitled to 51% of all votes entitled to be cast. As a result, the Controlling Shareholder\npossesses voting control of the Company and may unilaterally determine the election of directors and substantially all matters requiring\nstockholder approval.\n\n \n\nContemporaneously\nwith the foregoing Share Purchase, certain indebtedness of the Company was compromised, settled, canceled, and extinguished pursuant\nto Debt Cancellation and Release Agreements entered into by the Company and the applicable creditors (the “Debt Cancellations”).\n\n \n\nThe\nShare Purchase and the Debt Cancellation Transactions were consummated pursuant to an Escrow Agreement among the parties thereto and\nJohn D. Thomas, P.C., as escrow agent, a copy of which is filed as Exhibit 10.5 to this Current Report and incorporated herein by reference."}