Item 1.01 Entry into a Material Definitive Agreement
On January 21, 2020 Pacific Ventures Group, Inc. (the "Corporation") entered
into a Consulting Agreement (the "Agreement") with Tysadco Partners (the
"Consultant"). Pursuant to the terms of the Agreement, the Consultant provided
consulting services to the Corporation related to the execution of the
Corporation's growth plans, capital requirements, and the evaluation of capital
markets for a period of 12 months. Pursuant to the terms of the Agreement, the
Consultant was entitled to a monthly cash fee and stock issuance for the term of
the Agreement.
The foregoing description of the Agreement is qualified in its entirety by
reference to the full text of the Agreement attached as an exhibit hereto.
Item 3.02 Unregistered Sales of Equity Securities
On January 5, 2021, the Corporation issued 83,928 restricted shares of common
stock of the Corporation pursuant to the Agreement described in Item 1.01 above.
In connection with the issuance, the Corporation relied upon the exemption from
securities registration provided by Section 4(a)(2) under the Securities Act of
1933, as amended, for transactions not involving a public offering.
Item 9.01 Exhibits.
Exhibit No. Description
99.1 Consulting Agreement between the Corporation and Tysadco
Partners
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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