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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934
Date of Report (Date of earliest event reported) May
14, 2024
Cryomass Technologies Inc
(Exact name of registrant as specified in its charter)
Nevada |
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000-56155 |
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82-5051728 |
(State or other jurisdiction of |
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(Commission File Number) |
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(IRS Employer |
incorporation) |
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Identification No.) |
1001 Bannock St Suite
612, Denver CO |
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80204 |
(Address of principal executive offices) |
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(Zip Code) |
Registrant’s telephone number, including area
code 303-416-7208
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class |
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Trading Symbol |
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Name of each Exchange on which Registered |
None |
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Indicate by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
(§240.12b -2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark
if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosure.
On May 14, 2024, CryoMass Technologies Inc (‘Company”)
issued a press release (“Press Release”), which was also disseminated on the same day via email to certain shareholders who
provided contact information. A copy of the Press Release is furnished as Exhibit 99.1.
The information in Item 7.01 of this Current Report
and Exhibit 99.1 is being furnished, not filed, pursuant to Items 7.01 and 9.01 of Form 8-K. Accordingly, the information in Items 7.01
and 9.01 of this Current Report, including Exhibit 99.1, will not be subject to liability under Section 18 of the Securities and Exchange
Act of 1934, as amended (the “Exchange Act”), and will not be incorporated by reference into any registration statement or
other document filed by the Company under the Securities Act of 1933, as amended, or the Exchange Act, unless specifically identified
therein as being incorporated by reference. The furnishing of information in this Current Report, including Exhibit 99.1, is not intended
to, and does not, constitute a determination or admission by the Company that the information in this Current Report, including Exhibit
99.1, is material or complete, or that investors should consider this information before making an investment decision with respect to
any security of the Company or any of its affiliates.
Item 9.01. Financial Statements and Exhibits.
NOTE REGARDING FORWARD LOOKING STATEMENTS
Any statements in this Current Report on Form 8-K
or any exhibit hereto about future expectations, plans, and prospects for the Company, including statements about Company’s future
expectations, beliefs, goals, plans, or prospects, constitute “forward-looking statements” within the meaning of Section 27A
of the Securities Act and Section 21E of the Exchange Act. In some cases you can identify forward-looking statements because they contain
words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“intend,” “may,” “might,” “likely,” “plan,” “potential,” “predict,”
“project,” “seek,” “should,” “target,” “will,” “would,” or similar
expressions and the negatives of those terms.
These forward-looking statements involve risks, uncertainties,
and assumptions that could cause actual performance or results to differ materially from those expressed or suggested by the forward-looking
statements. If any of these risks or uncertainties materialize, or if any of Company’s assumptions prove incorrect, its actual results
could differ materially from the results expressed or implied by these forward-looking statements. These risks and uncertainties include
risks associated with: Company’s ability to achieve or maintain profitability, and to effectively manage its anticipated growth;
and the risks described in the other filings Company makes with the Securities and Exchange Commission from time to time, including the
risks described under the heading “Risk Factors” in Company’s Annual Report on Form 10-K for the year ended December
31, 2022 and subsequent quarterly reports on Form 10-Q, and which should be read in conjunction with its financial results and forward-looking
statements. All forward-looking statements in this Current Report on Form 8-K or any exhibit hereto are based on information available
to Company as of the date hereof, and it does not assume any obligation to update the forward-looking statements provided to reflect events
that occur or circumstances that exist after the date on which they were made, except as required by law.
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Cryomass Technologies Inc
/s/ Christian Noël |
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Christian Noël |
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CEO |
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Date: May 14, 2024 |
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Exhibit 99.1
Source: Cryomass Technologies May 14, 2024 07:10
ET
CryoMass Announces Sale of First Production Model to be deployed
in Canada
DENVER, May 14, 2024 (GLOBE NEWSWIRE)
-- CryoMass Technologies Inc. (the “Company”
or “CryoMass”) (OTCQB: CRYM), a pioneering
leader in cryogenic systems for refinement of trichome- rich crops, today announced the sale of its first production model. As previously
announced in January of this year, CryoMass entered into an agreement to sell up to five CryoSift Separators™ (“Units”).
The transaction we are announcing today is the first of such Unit sales for CAD$1.62 million, which will be deployed in Canada, marking
a significant milestone in the Company's growth trajectory.
Facilitated by a multi-year, multi-party
Equipment Lease and Non-Exclusive Patent License agreement between CryoMass, a Special Purpose Vehicle (the buyer) and a Canadian cannabis
and hemp operator (the lessee), this transaction enables CryoMass to actively introduce its patented biomass reduction and trichome refinement
method and unique benefits to an established market. In addition to the revenue received from the sale of the Unit, CryoMass will receive
a recurring revenue stream from processing fees for the life of the agreements. The buyer has 60 days to pay the amount due for the purchase
of the Unit.
"Our strategic expansion into
Canada's maturing cannabis ecosystem marks the launch of our innovative Equipment Leasing and Patent Licensing Program," said Christian
Noël, CEO of CryoMass. "We are thrilled to unveil our CryoSift Separator™ production model and showcase its remarkable
capabilities in driving cost savings, generating additional revenue, and delivering unparalleled operational efficiencies. This deployment
represents a pivotal opportunity to demonstrate the transformative impact of our disruptive technology to additional customers in Canada
who have eagerly awaited its integration into their businesses."
Building on eight years of extensive
research and development, and over two years of rigorous testing, CryoMass has engineered a modular production model that enhances performance
and versatility. Key enhancements include:
A sectional shaft configuration for the Cryo Auger as a standalone biomass freezing solution for cultivators, improving serviceability,
cleaning accessibility, and versatility. The innovative Cryo Auger combines freezing and milling capabilities into a single, efficient
step, dramatically reducing biomass volume by 65%. This cutting-edge solution offers immediate storage cost savings, a first-of-its-kind
advantage in the industry.
A Biomass Separation and Refinement System divided into two sub-modules, enhancing system ergonomics and achieving higher throughput rates
for end users.
Module #1 efficiently separates the biomass, preparing it for subsequent solvent-based extraction processes or further refinement in Module
#2.
Module #2 refines the output from Module #1 by isolating the desired trichomes for solventless extract production.
This modular approach offers unparalleled
flexibility, allowing cultivators and processors to tailor the system to their specific needs, from biomass reduction for storage and
transportation cost savings to comprehensive trichome refinement tailored to different extraction methods and end- product requirements.
"This transaction is the
first of many, as we continue to execute on our growth strategy and drive the widespread adoption of our cutting-edge refinement technology,"
added Noël.
The common stock of CryoMass
Technologies Inc. trades on the OTC QB market under the symbol CRYM.
For further information, please contact the Company by email at investors@cryomass.com or by telephone at 303-222-8092.
About CryoMass
CryoMass Technologies Inc.
develops and licenses cutting-edge equipment and processes to refine harvested cannabis, hemp, and other premium crops. The
company’s patented technology harnesses liquid nitrogen to reduce biomass and then efficiently isolate, collect and preserve
delicate resin glands (trichomes) containing prized compounds like cannabinoids and terpenes. Building on this technology, CryoMass
has engineered its premier Trichome Separation unit (CryoSift Separator™), optimized via patented cryogenic processes to
rapidly capture intact, high- value cannabis and hemp trichomes (CryoSift™). Much like sugar and flour refinements, the
resulting CryoSift™ concentrate is a superior product compared to unprocessed biomass. For cultivators, reducing biomass into
CryoSift™ slashes volume up to 80%, dramatically lowering storage, handling, and transportation costs. Properly stored,
CryoSift™ prevents potency and terpene degradation, preserving value. For processors, the minimized input volume also enables
considerable cost savings and logistics advantages. Extracting from CryoSift™ using solvents and manufacturing solventless
products unlocks industrial scale yields unattainable otherwise. CryoMass anticipates its efficiencies will catalyze industry-wide
shifts in cannabis and hemp post- harvest methods. Additionally, the technology shows promise for diverse trichome-rich plants.
This press release is not an
offer of securities, or a solicitation for purchase, subscription or sale of securities in the United States of America or in any other
jurisdiction in which it would be unlawful to do so.
Forward-looking Statements
This press release may contain
forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 that involve known
and unknown risks, uncertainties and other factors, including risk factors identified in the Company's SEC filings, and which may cause
the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Risks and uncertainties include, without limitation, changes in the regulatory
environment affecting the sale and use of cannabis or hemp products and of other, potential lines of businesses that the Company will
consider entering at a given time, demand for the Company's products, internal funding and the financial condition of the Company, product
roll- out, competition, our dependence upon our commercial partners, variations in the global commodities markets and other commercial
matters involving the Company, its products and the markets in which the Company operates or seeks to enter, as well as general economic
conditions. The forward-looking statements in this press release are made only as of the date hereof, and unless otherwise required by
applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
Caution Regarding Cannabis Operations
in the United States
Investors should note that there
are significant legal restrictions and regulations that govern the cannabis industry in the United States. Marijuana, as defined in the
U.S. Controlled Substances Act, remains a Schedule I drug under the respective act, making it illegal under federal law in the U.S. to,
among other things, cultivate, distribute or possess cannabis. Financial transactions involving proceeds generated by, or intended to
promote, cannabis-related business activities in the U.S. may form the basis for prosecution under applicable U.S. federal money laundering
legislation. Please carefully review the Company's SEC filings with respect to related risk factor.
A photo accompanying this announcement
is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ee470096-99ff-4dc4-a158- 0e194d567e82
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