{"url_path":"/sec/gcan/8-k/2026-07-06/item-5-02","section_key":"item-5-02","section_title":"Item 5.02 ** **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers**","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":1237,"has_tables":true,"body_markdown":"**Item 5.02** **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers**\n\n \n\nOn\nJune 29, 2026, Porfirio Sanchez Talavera was appointed as Chief Executive Officer, Chairman of the Board, and a member of the Board of\nDirectors of the Company. Aitan Zacharin resigned from all officer positions effective immediately upon such appointment and agreed to\nremain as a member of the Board of Directors solely until the expiration of the ten (10) day period required under Rule 14f-1. Upon expiration\nof such period, Mr. Zacharin’s resignation as a director will become effective and Mr. Sanchez Talavera will remain as the sole\ndirector of the Company. Mr. Zacharin’s resignation was not the result of any disagreement with the Company regarding its operations,\npolicies, or practices. Mr. Zacharin will continue to serve as a member of the Board of Directors solely until the expiration of the\nten (10) day period required under Rule 14f-1 under the Securities Exchange Act of 1934. A summary of the background and business experience\nof each of Porfirio Sanchez Talavera and Aitan Zacharin is as follows:\n\n \n\n \n\n \n\n \n\n**Aitan\nZacharin, Former President, Chief Executive Officer, Treasurer and Director.** Mr. Zacharin is an experienced executive with broad\nknowledge in building and managing technology, biopharmaceutical, healthcare and consumer products businesses. Mr. Zacharin has founded\na number of companies, and has seen them through successful listings in the public markets, with collective valuations of over $1 billion.\nMr. Zacharin has been advising and investing in early to mid-stage startups, and assisting them with development, capitalization, accelerating\ngrowth, and turnaround strategies. He specializes in strategic acquisitions, structuring complex transactions, reverse mergers, and brings\ndomestic and international experience in operations, accounting, audit preparation, due diligence, capital raising and restructuring,\ndebt financing, and mergers and acquisitions. In 2012 he co-founded Fuse Science, an innovative biotechnology company and was responsible\nfor growth of the business from its conceptual stage to a publicly traded CPG and biotech business with multiple subsidiaries. He structured\npivotal deals with key partners, which led to the company successfully raising over $20 million to commercialize its products, including\nbrand ambassador agreements with 26 sports celebrities, including world renowned athlete Tiger Woods. He successfully exited from the\ncompany, which had reached a $110 million valuation. In 2014, Mr. Zacharin was appointed to the Board of Directors for Mediconecta, the\nlargest telehealth Company in Latin America serving millions of patients with on-demand, high quality healthcare. Within six months,\nMr. Zacharin facilitated and negotiated an eight figure buyout offer from Teladoc (NASDAQ: TDOC), the world’s largest telehealth\ncompany, just prior to its IPO. In 2015, Mr. Zacharin became the managing partner of Secure Hosting LLC, a blockchain mining company\nwith a co-location mining farm in North Carolina. After two years of scaling out the operations to nearly $15,000,000 in assets, he successfully\nstructured the sale of the company to a leading publicly traded blockchain mining company. In 2017, Mr. Zacharin founded GCANRx (OTC:\nGCAN), a publicly traded biopharmaceutical company focused on repurposing a highly bioavailable transmucosal drug delivery system that\nhad previously been commercialized in partnership with Novartis. Mr. Zacharin repurposed the platform technology for use in cannabinoid\ntherapeutics. He then negotiated a worldwide exclusive license from Shaare Zedek Scientific, the licensing arm of one of Israel’s\nlargest research hospitals, for a cannabinoid-based therapeutic used in treating neuropsychiatric disorders. The therapeutic was invented\nby world-renowned cannabis researcher, Dr. Adi Aran, M.D. The Company is currently in the final stages of regulatory approval for a 100\npatient Phase 2 clinical study for the treatment of autism related spectrum disorders. In 2018, Mr. Zacharin became a shareholder in\nsports technology company, Slinger (NASDAQ: CNXA). The company manufactures an innovative, patented sports product called the Slinger\nBag, which raised $1 million through a highly successful Kickstarter campaign. Mr. Zacharin was tasked by the founder to take the company\npublic. The Company was led by the past- CEO of global tennis company Prince. Within the first 18 months of operations the company grew\nto a global footprint of 65 countries, signed $250 million in distribution agreements, and achieved a market cap of over $400 million.\nThroughout the growth of the company, Mr. Zacharin served as the head of investor relations and was instrumental in raising the company\nover $27 million from leading Wall Street investors, and overseeing the IR strategy, which led to the stock rising over 1,700% from its\nlisting price. Mr. Zacharin was actively involved in Slinger’s acquisition of three companies, most notably a Softbank and Verizon\nVentures backed artificial intelligence sports company for $100 million. Mr. Zacharin led the effort of putting together a team, which\nsuccessfully uplisted the Company from the OTC Markets to the Nasdaq. In 2019, Mr. Zacharin joined an investor group who acquired Solstice\nSunglasses, the second largest sunglasses retailer in the US, to list the company’s shares on the public markets. Mr. Zacharin\nled the merger of Solstice with a public vehicle, which enabled a multi-million dollar round of financing for the retailer. In 2020,\nMr. Zacharin identified, structured and facilitated the acquisition of a luxury, multi-state substance abuse facility. Mr. Zacharin secured\nfinancing for the $18 million acquisition with a combination of investments from high net worth individuals and a loan facility from\na specialty banking lender. The company subsequently purchased two additional drug rehab portfolios, and grew to become a leading multi-state\noperator in the drug rehabilitation industry. In 2021, Mr. Zacharin became the co-founder and CEO of PlasmaCure, a groundbreaking medical\ndevice company focused on R&D and commercialization of an oncology treatment licensed from GW University. Mr. Zacharin holds dual\ndegrees from the University of South Florida. He serves in an executive capacity to two publicly listed companies, and maintains various\nboard non-profit board appointments.\n\n \n\n**Mr.\nPorfirio Sánchez Talavera, Chairman of the Board and Chief Executive Officer.** Mr. Sánchez-Talavera\nis a Managing Partner of Trafalgar Asset Management, a private merchant investment firm established in 1996 that builds, acquires, and\noperates companies across regulated financial services, telecommunications infrastructure, restructuring, and special situations. Under\nhis leadership, the firm has completed transactions in excess of US$2.5 billion in aggregate transaction value. Within the TAM platform,\nMr. Sánchez-Talavera is the founder and controlling shareholder of Grupo Trafalgar, the firm’s financial services holding company\nin Mexico, comprising regulated financial institutions engaged in electronic payments, deposit-taking, lending, and brokerage activities.\nSince January 2019, he has served as Chairman of the Board of Grupo Trafalgar, overseeing corporate strategy, capital allocation, regulatory\naffairs, and the expansion of the group’s licensed financial infrastructure. As part of that strategy, from 2021 to 2023 the firm founded\nand developed Trafalgar Digital, an electronic payment fund institution (Institución de Fondos de Pago Electrónico, or\n“IFPE”) authorized under Mexico’s Fintech Law. Trafalgar’s sale of Trafalgar Digital to Walmart de México y Centroamérica\nwas completed in April 2023 and represented one of the notable transactions in Mexico’s regulated fintech sector. The firm’s telecommunications\nvertical reflects a longstanding thesis in asset-light infrastructure serving underserved, high-cost markets. From June 2014 through\nDecember 2018, Mr. Sánchez-Talavera served as Chief Executive Officer of Cape Point Holdings, a telecommunications investment\nand infrastructure company headquartered in Los Angeles, California, focused on satellite communications and broadband infrastructure\nprojects in underserved markets. During his tenure, Cape Point Holdings managed in excess of US$25 million in capital and developed a\ntelecommunications rights portfolio with an estimated value exceeding US$1 billion."}