0001511164-17-000355.txt : 20170620
20170620173001
S-1
S-1
S-1
000151116417000355
69
Greater Cannabis Company, Inc.
>0001511164-17-000355.hdr.sgml : 20170620
20170620
<SEC-HEADER>0001511164-17-000355.hdr.sgml : 20170620
<ACCEPTANCE-DATETIME>20170620173001
ACCESSION NUMBER:		0001511164-17-000355
CONFORMED SUBMISSION TYPE:	S-1
PUBLIC DOCUMENT COUNT:		69
FILED AS OF DATE:		20170620

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Greater Cannabis Company, Inc.
		CENTRAL INDEX KEY:			0001695473
		IRS NUMBER:				300842570
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-1
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-218854
		FILM NUMBER:		17921617

	BUSINESS ADDRESS:	
		STREET 1:		735 ARLINGTON AVE N.
		STREET 2:		SUITE 308
		CITY:			ST. PETERSBURG
		STATE:			FL
		ZIP:			33701
		BUSINESS PHONE:		7274821505

	MAIL ADDRESS:	
		STREET 1:		P.O. BOX 521
		CITY:			ST. PETERSBURG
		STATE:			FL
		ZIP:			33731
</SEC-HEADER>
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>13
<FILENAME>f105withcs.htm
<DESCRIPTION>COLLATERAL AGREEMENT WITH SLMI ENERGY HOLDINGS, LLC AND SYLIOS CORP DATED AS OF MARCH 22, 2017
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>JOINT VENTURE AGREEMENT</TITLE>
<META NAME="author" CONTENT="John Burley">
<META NAME="date" CONTENT="04/03/2017">
</HEAD>
<BODY style="margin-top:0;font-family:'Times New Roman'; font-size:10pt; color:#000000">
<DIV style="width:624px"><P style="margin:0px"><BR></P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:18pt" align=center><B>COLLATERAL AGREEMENT</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS AGREEMENT, entered into this 21st day of March, 2017, by and between <B>Sylios Corp</B>, a Florida corporation, whose address is 244 2<SUP>nd</SUP> Ave N, Suite 309, St. Petersburg, FL 33701 hereinafter referred to as &#147;BORROWER&#148;, <B>The Greater Cannabis Company, Inc</B>., a Florida corporation, whose address is 244 2<SUP>nd</SUP> Ave N., Suite 9, St. Petersburg, FL 33701 hereinafter referred to as &#147;GCC&#148; and <B>SLMI Energy Holdings, LLC, </B>a Georgia limited liability company, whose address is 1377 Old Riverside Road, Roswell GA 30076, hereinafter referred to as &#147;LENDER&#148;. As used herein, the term &#147;PARTIES&#148; shall be used to refer to the LENDER, GCC and the BORROWER jointly.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>This AGREEMENT is being made in an effort to facilitate the spin-off of GCC from BORROWER in a stock dividend transaction; and</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt">WHEREAS, the Parties desire to enter into this AGREEMENT so that upon an effect spin-off of GCC from BORROWER, LENDER will release GCC from any existing GCC guaranty for LENDER&#146;S debt and any existing UCC lien on GCC for LENDER&#146;S debt; and </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt">WHEREAS, BORROWER and GCC have entered into an Anti-Dilution Agreement dated February 28, 2017.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>IT IS, THEREFORE, agreed as follows:</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B><U>1. Term of Agreement:</U></B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>This AGREEMENT shall be enforce so long as LENDER is indebted to BORROWER or both parties mutually agree in writing to terminate this AGREEMENT.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B><U>2. BORROWER&#146;S duties:</U></B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>BORROWER agrees to the following:</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:'Garamond,Times New Roman'; font-size:12pt; float:left">1.</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Present and future GCC shares held by a) BORROWER and b) Wayne Anderson and affiliates controlled by him, will be turned over to LENDER to physically possess as collateral for outstanding debt owed to LENDER; LENDER is granted a security interest in these shares for debts owed to LENDER by BORROWER; &nbsp;and</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:'Garamond,Times New Roman'; font-size:12pt; clear:left; float:left">2.</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>BORROWER will use its best efforts to arrange sales of those shares in share amounts it deems appropriate.&nbsp; One half of the sale proceeds will be applied to the outstanding debt to LENDER; and</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:'Garamond,Times New Roman'; font-size:12pt; clear:left; float:left">3.</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>BORROWER will make a collateral assignment of its Anti-Dilution Agreement to LENDER, for each exercise opportunity, it will promptly notify SLMI of same and promptly exercise its rights to acquire more GCC shares thereunder -- unless LENDER consents in writing to decline a particular opportunity. &nbsp;GCC consents to this assignment.</P>
<P style="margin:0px; clear:left" align=justify><BR></P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B><U>3. &nbsp;LENDER&#146;S Duties:</U></B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>LENDER agrees to the following:</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:'Garamond,Times New Roman'; font-size:12pt; float:left">1.</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>LENDER will release GCC from any existing GCC guaranty for debt owed to LENDER by BORROWER and will release any existing UCC lien on GCC said debt.</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:'Garamond,Times New Roman'; font-size:12pt; clear:left; float:left">2.</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>The parties agree that in the event the debt owed by BORROWER to LENDER, or any part thereof, is declared in default, LENDER may exercise any and all rights attributable to the shares held as collateral and exercise all rights of BORROWER in said Anti-Dilutive Agreement dated Feb. 28, 2017 (including but not limited to rights to vote shares and to sell or otherwise transfer shares). &nbsp;BORROWER further agrees to supply such stock powers and such proxies as LENDER may reasonably request to fortify its rights in its collateral.</P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B><U>4. Encumbrances and Assignments:</U></B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Neither party shall sell, assign, transfer or encumber his interest in this AGREEMENT without the prior written consent of the other.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B><U>5. Notices:</U></B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Any and all notices and other communications required or permitted by this Agreement shall be served on or given to either party by the other party in writing and shall be deemed duly served and given when personally delivered to any of the parties to whom it is directed, or in lieu of such person service, when deposited in the United States Mail, First class, postage prepaid, addressed to following (with a duplicate sent via email, as indicated below)</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>BORROWER at:</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:336px; font-family:'Garamond,Times New Roman'; font-size:12pt; float:left">&nbsp;&nbsp;&nbsp;&nbsp;<B>Sylios Corp</B></P>
<P style="margin:0px; text-indent:-2px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B>wa@sylios.com</B></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt; clear:left" align=justify><B>&nbsp;&nbsp;&nbsp;&nbsp;Attn: Wayne Anderson</B></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;P.O. Box 521</P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;St. Petersburg, FL 33731</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>GCC at:</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:288px; font-family:'Garamond,Times New Roman'; font-size:12pt; float:left">&nbsp;&nbsp;&nbsp;&nbsp;<B>The Greater Cannabis Company, Inc. &nbsp;&nbsp;</B></P>
<P style="margin:0px; text-indent:-2px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B>info@greatercannabiscompany.com</B></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt; clear:left" align=justify><B>&nbsp;&nbsp;&nbsp;&nbsp;Attn: Wayne Anderson</B></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;P.O. Box 521</P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;St. Petersburg, FL 33731</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>LENDER at:</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:336px; font-family:'Garamond,Times New Roman'; font-size:12pt; float:left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>SLMI Energy Holdings, LLC</B></P>
<P style="margin:0px; text-indent:-2px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B>natalie177@hotmail.com</B><B>; </B></P>
<P style="margin-top:0px; margin-bottom:-2px; width:336px; font-family:'Garamond,Times New Roman'; font-size:12pt; clear:left; float:left"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Attn: N. Solano</B></P>
<P style="margin:0px; text-indent:-2px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B>groves1870@gmail.com</B></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt; clear:left" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1377 Old Riverside Road</P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Roswell GA 30076</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B><U>6. &nbsp;Arbitration:</U></B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>In the case of any controversy between the LENDER and BORROWER concerning, but not limited to, the validity, construction, or interpretation of this Agreement, or the validity of the appraisal, the parties shall refer such dispute in writing to an Arbitrator to be jointly agreed upon. &nbsp;Or failing an agreement, to the American Arbitration Association for referral to a single Arbitrator. &nbsp;Said Arbitrator shall promptly determine such dispute and deliver a written decision to each party by personal delivery or certified mail. &nbsp;The decision of the arbitrator shall be final and binding on both parties and shall by enforceable as any Arbitrator award.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Arbitrator may hold meetings, hearings, and take testimony of witnesses and receive evidence, but shall not be empowered to compel the attendance of any person or the production of any evidence. Arbitration shall be held in Atlanta, GA.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B><U>7. &nbsp;Binding:</U></B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>This agreement shall be binding upon the parties, their respective heirs, personal representatives or assigns as the case may be.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B><U>8. &nbsp;Attorneys' Fees:</U></B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>In the event it becomes necessary for either party to institute a lawsuit or arbitration proceedings to enforce any terms and conditions hereof, each party shall bear its own attorneys' fees and costs.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B><U>9. &nbsp;Severability:</U></B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Each covenant, condition and provision of this agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any covenant, condition or provision shall be held to be void or invalid, the same shall not affect the remainder hereof, which shall be effective as though the void or invalid covenant, condition or provision had not been contained herein.</P>
<P style="margin:0px" align=justify><BR></P>
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<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>This Agreement shall be construed in accordance with the laws of the State of Florida.</P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt">Dated March 21, 2017.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt">&nbsp;</P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B>SYLIOS CORP:</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Wayne Anderson</P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>By: ____________________________</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Name: <U>Wayne Anderson</U></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Title: <U>President</U></P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B>THE GREATER CANNABIS COMPANY, INC.:</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Wayne Anderson</P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>By: ____________________________</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Name: <U>Wayne Anderson</U></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Title: <U>President</U></P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B>SLMI ENERGY HOLDINGS, LLC:</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ A.R. Slack</P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>By: ____________________________</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Name: <U>A. R. Slack</U></P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Title: <U>LLC Manager &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
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EX-10.5
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f105withcs.htm
COLLATERAL AGREEMENT WITH SLMI ENERGY HOLDINGS, LLC AND SYLIOS CORP DATED AS OF MARCH 22, 2017
JOINT VENTURE AGREEMENT
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>13
<FILENAME>f105withcs.htm
<DESCRIPTION>COLLATERAL AGREEMENT WITH SLMI ENERGY HOLDINGS, LLC AND SYLIOS CORP DATED AS OF MARCH 22, 2017
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>JOINT VENTURE AGREEMENT</TITLE>
<META NAME="author" CONTENT="John Burley">
<META NAME="date" CONTENT="04/03/2017">
</HEAD>
<BODY style="margin-top:0;font-family:'Times New Roman'; font-size:10pt; color:#000000">
<DIV style="width:624px"><P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:18pt" align=center><B>COLLATERAL AGREEMENT</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS AGREEMENT, entered into this 21st day of March, 2017, by and between <B>Sylios Corp</B>, a Florida corporation, whose address is 244 2<SUP>nd</SUP> Ave N, Suite 309, St. Petersburg, FL 33701 hereinafter referred to as &#147;BORROWER&#148;, <B>The Greater Cannabis Company, Inc</B>., a Florida corporation, whose address is 244 2<SUP>nd</SUP> Ave N., Suite 9, St. Petersburg, FL 33701 hereinafter referred to as &#147;GCC&#148; and <B>SLMI Energy Holdings, LLC, </B>a Georgia limited liability company, whose address is 1377 Old Riverside Road, Roswell GA 30076, hereinafter referred to as &#147;LENDER&#148;. As used herein, the term &#147;PARTIES&#148; shall be used to refer to the LENDER, GCC and the BORROWER jointly.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>This AGREEMENT is being made in an effort to facilitate the spin-off of GCC from BORROWER in a stock dividend transaction; and</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt">WHEREAS, the Parties desire to enter into this AGREEMENT so that upon an effect spin-off of GCC from BORROWER, LENDER will release GCC from any existing GCC guaranty for LENDER&#146;S debt and any existing UCC lien on GCC for LENDER&#146;S debt; and </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt">WHEREAS, BORROWER and GCC have entered into an Anti-Dilution Agreement dated February 28, 2017.</P>
<P style="margin:0px" align=justify><BR></P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>IT IS, THEREFORE, agreed as follows:</P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B><U>1. Term of Agreement:</U></B></P>
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<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>This AGREEMENT shall be enforce so long as LENDER is indebted to BORROWER or both parties mutually agree in writing to terminate this AGREEMENT.</P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B><U>2. BORROWER&#146;S duties:</U></B></P>
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<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>BORROWER agrees to the following:</P>
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<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:'Garamond,Times New Roman'; font-size:12pt; float:left">1.</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Present and future GCC shares held by a) BORROWER and b) Wayne Anderson and affiliates controlled by him, will be turned over to LENDER to physically possess as collateral for outstanding debt owed to LENDER; LENDER is granted a security interest in these shares for debts owed to LENDER by BORROWER; &nbsp;and</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:'Garamond,Times New Roman'; font-size:12pt; clear:left; float:left">2.</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>BORROWER will use its best efforts to arrange sales of those shares in share amounts it deems appropriate.&nbsp; One half of the sale proceeds will be applied to the outstanding debt to LENDER; and</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:'Garamond,Times New Roman'; font-size:12pt; clear:left; float:left">3.</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>BORROWER will make a collateral assignment of its Anti-Dilution Agreement to LENDER, for each exercise opportunity, it will promptly notify SLMI of same and promptly exercise its rights to acquire more GCC shares thereunder -- unless LENDER consents in writing to decline a particular opportunity. &nbsp;GCC consents to this assignment.</P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B><U>3. &nbsp;LENDER&#146;S Duties:</U></B></P>
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<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>LENDER agrees to the following:</P>
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<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:'Garamond,Times New Roman'; font-size:12pt; float:left">1.</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>LENDER will release GCC from any existing GCC guaranty for debt owed to LENDER by BORROWER and will release any existing UCC lien on GCC said debt.</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:'Garamond,Times New Roman'; font-size:12pt; clear:left; float:left">2.</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>The parties agree that in the event the debt owed by BORROWER to LENDER, or any part thereof, is declared in default, LENDER may exercise any and all rights attributable to the shares held as collateral and exercise all rights of BORROWER in said Anti-Dilutive Agreement dated Feb. 28, 2017 (including but not limited to rights to vote shares and to sell or otherwise transfer shares). &nbsp;BORROWER further agrees to supply such stock powers and such proxies as LENDER may reasonably request to fortify its rights in its collateral.</P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B><U>4. Encumbrances and Assignments:</U></B></P>
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<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Neither party shall sell, assign, transfer or encumber his interest in this AGREEMENT without the prior written consent of the other.</P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B><U>5. Notices:</U></B></P>
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<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Any and all notices and other communications required or permitted by this Agreement shall be served on or given to either party by the other party in writing and shall be deemed duly served and given when personally delivered to any of the parties to whom it is directed, or in lieu of such person service, when deposited in the United States Mail, First class, postage prepaid, addressed to following (with a duplicate sent via email, as indicated below)</P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>BORROWER at:</P>
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<P style="margin-top:0px; margin-bottom:-2px; width:336px; font-family:'Garamond,Times New Roman'; font-size:12pt; float:left">&nbsp;&nbsp;&nbsp;&nbsp;<B>Sylios Corp</B></P>
<P style="margin:0px; text-indent:-2px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B>wa@sylios.com</B></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt; clear:left" align=justify><B>&nbsp;&nbsp;&nbsp;&nbsp;Attn: Wayne Anderson</B></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;P.O. Box 521</P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;St. Petersburg, FL 33731</P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>GCC at:</P>
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<P style="margin-top:0px; margin-bottom:-2px; width:288px; font-family:'Garamond,Times New Roman'; font-size:12pt; float:left">&nbsp;&nbsp;&nbsp;&nbsp;<B>The Greater Cannabis Company, Inc. &nbsp;&nbsp;</B></P>
<P style="margin:0px; text-indent:-2px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B>info@greatercannabiscompany.com</B></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt; clear:left" align=justify><B>&nbsp;&nbsp;&nbsp;&nbsp;Attn: Wayne Anderson</B></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;P.O. Box 521</P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;St. Petersburg, FL 33731</P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>LENDER at:</P>
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<P style="margin-top:0px; margin-bottom:-2px; width:336px; font-family:'Garamond,Times New Roman'; font-size:12pt; float:left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>SLMI Energy Holdings, LLC</B></P>
<P style="margin:0px; text-indent:-2px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B>natalie177@hotmail.com</B><B>; </B></P>
<P style="margin-top:0px; margin-bottom:-2px; width:336px; font-family:'Garamond,Times New Roman'; font-size:12pt; clear:left; float:left"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Attn: N. Solano</B></P>
<P style="margin:0px; text-indent:-2px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B>groves1870@gmail.com</B></P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt; clear:left" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1377 Old Riverside Road</P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Roswell GA 30076</P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B><U>6. &nbsp;Arbitration:</U></B></P>
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<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>In the case of any controversy between the LENDER and BORROWER concerning, but not limited to, the validity, construction, or interpretation of this Agreement, or the validity of the appraisal, the parties shall refer such dispute in writing to an Arbitrator to be jointly agreed upon. &nbsp;Or failing an agreement, to the American Arbitration Association for referral to a single Arbitrator. &nbsp;Said Arbitrator shall promptly determine such dispute and deliver a written decision to each party by personal delivery or certified mail. &nbsp;The decision of the arbitrator shall be final and binding on both parties and shall by enforceable as any Arbitrator award.</P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Arbitrator may hold meetings, hearings, and take testimony of witnesses and receive evidence, but shall not be empowered to compel the attendance of any person or the production of any evidence. Arbitration shall be held in Atlanta, GA.</P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B><U>7. &nbsp;Binding:</U></B></P>
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<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>This agreement shall be binding upon the parties, their respective heirs, personal representatives or assigns as the case may be.</P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B><U>8. &nbsp;Attorneys' Fees:</U></B></P>
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<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>In the event it becomes necessary for either party to institute a lawsuit or arbitration proceedings to enforce any terms and conditions hereof, each party shall bear its own attorneys' fees and costs.</P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B><U>9. &nbsp;Severability:</U></B></P>
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<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Each covenant, condition and provision of this agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any covenant, condition or provision shall be held to be void or invalid, the same shall not affect the remainder hereof, which shall be effective as though the void or invalid covenant, condition or provision had not been contained herein.</P>
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<P style="margin:0px; text-indent:48px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>This Agreement shall be construed in accordance with the laws of the State of Florida.</P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt">Dated March 21, 2017.</P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt">&nbsp;</P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B>SYLIOS CORP:</B></P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Wayne Anderson</P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>By: ____________________________</P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Name: <U>Wayne Anderson</U></P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Title: <U>President</U></P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B>THE GREATER CANNABIS COMPANY, INC.:</B></P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Wayne Anderson</P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>By: ____________________________</P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Name: <U>Wayne Anderson</U></P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Title: <U>President</U></P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify><B>SLMI ENERGY HOLDINGS, LLC:</B></P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ A.R. Slack</P>
<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>By: ____________________________</P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Name: <U>A. R. Slack</U></P>
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<P style="margin:0px; font-family:'Garamond,Times New Roman'; font-size:12pt" align=justify>Title: <U>LLC Manager &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
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