Selectis Health Files 8-K for Material Agreement

TL;DR

SELECTIS HEALTH (formerly GLOBAL HEALTHCARE REIT) filed an 8-K on 2/13/25 for a material agreement.

AI Summary

Selectis Health, Inc. (formerly Global Healthcare REIT, Inc.) filed an 8-K on February 13, 2025, reporting an entry into a material definitive agreement and financial statements as of February 7, 2025. The company, incorporated in Utah with its principal executive offices in Greenwood Village, Colorado, previously operated under the names Global Casinos Inc. and Morgro Chemical Co.

Why It Matters

This filing indicates a significant new development or transaction for Selectis Health, Inc., which could impact its business operations and financial standing.

Risk Assessment

Risk Level: medium — The filing of an 8-K for a material definitive agreement suggests a significant event that could carry inherent business risks and uncertainties.

Key Players & Entities

• SELECTIS HEALTH, INC. (company) — Registrant
• GLOBAL HEALTHCARE REIT, INC. (company) — Former Company Name
• GLOBAL CASINOS INC (company) — Former Company Name
• MORGRO CHEMICAL CO (company) — Former Company Name
• February 7, 2025 (date) — Date of earliest event reported
• February 13, 2025 (date) — Date of Report
• 8480 E. Orchard Road , Ste. 49 (address) — Business Address

FAQ

Key Financial Figures

• $27.0 m — s under the two PSAs is an aggregate of $27.0 million, subject to certain prorations, h
• $500,000.00 — ve Hundred Thousand and No/100 Dollars ($500,000.00) (the "Initial Deposit"). The Initial D

Filing Documents

• form8-k.htm (8-K) — 42KB
• ex10-1.htm (EX-10.1) — 324KB
• ex10-2.htm (EX-10.2) — 283KB
• ex10-3.htm (EX-10.3) — 307KB
• ex10-4.htm (EX-10.4) — 305KB
• ex10-5.htm (EX-10.5) — 74KB
• 0001493152-25-006371.txt ( ) — 1746KB
• gbcs-20250207.xsd (EX-101.SCH) — 3KB
• gbcs-20250207_lab.xml (EX-101.LAB) — 33KB
• gbcs-20250207_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 3KB

From the Filing

UNITED 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): February 7, 2025 SELECTIS HEALTH, INC. (Exact Name of Registrant as Specified in its Charter) Utah 0-15415 87-0340206 (State or other jurisdiction of incorporation) Commission File Number (I.R.S. Employer Identification number) 8480 E. Orchard Road , Ste. 4900 , Greenwood Village , CO 80111 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (720) 680-0808 (Former name or former address, if changed since last report) Written communications pursuant to Rule 425 under the Securities Act Soliciting material pursuant to Rule 14a-12 under the Exchange Act Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act Securities registered pursuant to Section 12(b) of the Act: Title of each Class Trading Symbol Name of each exchange on which registered N/A N/A N/A Indicate by check mark whether the registrant is an emerging growth company as dened 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 nancial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ITEM 1.01 ENTRY INTO DEFINITIVE MATERIAL AGREEMENTS Purchase and Sale Agreements Effective on February 7, 2025, Selectis Health, a Utah corporation (the " Company ") caused three of the Company's wholly-owned subsidiaries Global Abbeville Property, LLC, Dodge NH, LLC, and ATL/WARR, LLC, each a Georgia limited liability company (each a " Seller "), to execute and deliver a definitive Purchase and Sale Agreement ("PSA") with Abbeville Propco Holdco, LLC, a Delaware limited liability company ("Purchaser") and also caused a fourth subsidiary, Providence HR, LLC, a Georgia limited liability company, to execute and deliver an additional Purchase and Sale Agreement (also a "Seller") with the Purchaser. Pursuant to both PSAs each Seller agreed to sell substantially all of the real and personal property owned by each, namely the skilled nursing facilities located at (i) 206 Main Street East, Abbeville, Georgia, 31001, upon which is located that certain 101-bed skilled nursing facility commonly known as "Glen Eagle Healthcare & Rehab" (the " Glen Eagle Facility "), (ii) 556 Chester Highway, Eastman, Georgia, 31023, upon which is located that certain 100-bed skilled nursing facility commonly known as "Eastman Healthcare & Rehab" (the " Eastman Facility "), (iii) 60 Providence Street, Sparta, Georgia, 31087, upon which is located that certain 71-bed skilled nursing facility commonly known as "Providence of Sparta Health and Rehabilitation" (the " Sparta Facility "), and (iv) 813 Atlanta Highway, Warrenton, Georgia, 30828, upon which is located that certain 110-bed skilled nursing facility commonly known as "Warrenton Health and Rehabilitation" (the " Warrenton Facility " and together with the Eastman Facility, Glen Eagle Facility, and Sparta Facility, the " Facilities "). A copy of the PSAs are filed herewith as Exhibits 10.1 and 10.2 respectively. The Sparta Facility was covered under a separate PSA to reflect the Purchaser's desire and intent to assume the HUD loan secured by the Sparta Facility. The purchase price to be paid by Purchaser for the four (4) Facilities under the two PSAs is an aggregate of $27.0 million, subject to certain prorations, holdbacks and adjustments customary in transactions of this nature. Consummation of the PSAs are contingent upon numerous conditions, including, without limitation, satisfactory completion of due diligence and other conditions customary in transaction of this nature. There can be no assurance that the PSAs will be consummated. Operations Transfer Agreements The Facilities are operated by separate, wholly-owned subsidiaries of the Company, namely Global Abbeville, LLC, a Georgia limited liability company, Global Eastman, LLC, a Georgia limited liability company, Selectis Sparta, LLC, a Georgia limited liability company, and Selectis Warrenton, LLC, a Georgia limited liability company (collectively, the " Existing Operators "). Concurrently with the execution of the PSA, the Company caused three of the Existing Operators to execute Operations Transfer Agreement (" OTA ") with a new entity affiliated with the Purchaser, Abbeville Opco Holdco LLC, a Delaware limited liability company (the "Abbeville New Operator ") and also cause the Existing Operator Selectis Sparta, LLC to execute an

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