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
January 27, 2017
Date of Report (Date of earliest event reported)
KONARED CORPORATION
(Exact name of small business issuer as specified in its charter)
Nevada
000-55208
99-0366971
(State or other jurisdiction of
(Commission
(IRS Employer Identification
incorporation or
File Number)
Number)
organization)
 
 
1101 Via Callejon #200, San Clemente, CA 92673-4230
(Address of principal executive offices) (Zip Code)
Phone: (808) 212-1553
(Registrant's telephone number)
N/A
(Former name or former address, if changed since last report.)
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))
 

 
Item 8.01 Other Events.

On January 27, 2017, KonaRed Corporation (the "Company") entered into an agreement (the "Extension Agreement") with Mr. Gonzalo Camet (the "Note Holder"), who is a member of the Company's board of directors, for extension of the maturity of a promissory note due January 27, 2017 with a principal amount of $100,000 (the "RP Note"). Under the Extension Agreement, the Note Holder extended the maturity date of the RP Note by six months to July 27, 2017 . All other terms and conditions of the RP Note were unchanged and remain in full force and effect.  As consideration for this maturity extension, the Company issued the Note Holder 340,000 restricted shares of our common stock.

Item 9.01 Financial Statements and Exhibits.

Exhibit 10.1 - Extension Agreement January 27, 2017


SIGNATURE
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.
KONARED CORPORATION
/s/ Shaun Roberts
Shaun Roberts
President and CEO
January 27, 2017

Exhibit 10.1
 
 
Agreement to Extend Maturity of Related Party Note ("Extension Agreement")

Dated: January 27, 2017
Whereas, on July 31, 2016, KonaRed Corporation (the "Company") issued a related party note payable (the "RP Note") with a principal amount due at January 27, 2017 of  $103,945 to Mr. Gonzalo Camet (the "Note Holder") and the Company and the Note Holder have agreed that the maturity of RP Note may be extended.
This Letter Agreement hereby extends the Maturity Date of the RP Note by six months from January 27, 2017 to July 27, 2017 based on rollover of the $100,000 principal and immediate payment of the $3,945 interest now due.
In consideration for Note Holder extending the Maturity Date of the RP Note and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company shall issue to Note Holder as of the date hereof  340,000 restricted shares of common stock of the Company.
All other terms and conditions of the RP Note shall remain in full force and effect and each of the representations, warranties and covenants therein are hereby made as of the date hereof with respect to RP Note and the issuance of the common stock and all provisions contained in the RP Note are hereby incorporated by reference herein.
IN WITNESS WHEREOF, the Note Holder agrees to the terms of this Extension Agreement as of the date hereof.
  NOTE HOLDER  
       
 
By:
/s/ Gonzalo Camet
 
    Gonzalo Camet  
 
 
IN WITNESS WHEREOF, the Company agrees to the terms of this Letter Agreement as of the date hereof.
 
  KONARED CORPORATION  
       
 
By:
/s/ Shaun Roberts  
   
Shaun Roberts
 
   
Chief Executive Officer