SHRG Sharing Services Global Corporation (PK)

ITEM 1.01 Entry into a Material Definitive Agreement

On July 22, 2020, Sharing Services Global Corporation (the “Company”), Bear Bull Market Dividends, Inc. (“BBMD”), a purported shareholder of the Company, Kenyatto Montez Jones (“Jones”), and MLM Mafia, Inc. (“MLM”) entered into a Settlement Accommodation Agreement [Including Stock Disposition And Release Provisions] (the “SAA”) pursuant to which the relevant parties agreed to settle all prior disputes between the Company, on the one part, and BBMD and Jones, on the other, concerning the status of BBMD as a valid shareholder of the Company, and the ownership, operation, management and control of the Company, all of which is the subject of various pending lawsuits. In addition to other provisions discussed herein, the parties agreed to dismiss such pending lawsuits and exchanged customary mutual releases.

Under the terms of the SAA, the Disputed Stock in its entirety will be converted into 25,000,000 shares of the Company’s Class A Common Stock (the “Converted Stock”). In addition, under the terms of the SAA, all 25,000,000 shares of the Converted Stock will be placed in escrow with the Company’s stock transfer agent, VStock Transfer, LLC, and to be governed by a Securities Escrow And Disposition Agreement dated as of July 29, 2020.

Upon completion of the foregoing actions, MLM will purchase from BBMD 20,000,000 shares of the Converted Stock at the purchase price of $0.0525 per share, and BBMD will remain the holder of 5,000,000 shares of the Converted Stock.

Upon completion of the actions discussed in the preceding paragraph, the Company will buy-back from MLM 17,500,000 shares of the Converted Stock at the purchase price of $0.0514 per share. Upon completion of this buy-back transaction, the Company presently intends to retire such shares.