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<DIV style=margin-left:72pt;width:468pt><P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt><B>UNITED STATES</B></FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt><B>Washington, D.C. 20549</B></FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>&#160;</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt><B>FORM S-8</B></FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>&#160;</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt><B>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</B></FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>&#160;</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style='font-size:10pt;border-bottom:1px solid #000000'><B>Axim Biotechnologies, Inc.</B></FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>(Exact name of registrant as specified in its charter)</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>&#160;</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>&#160;</FONT></P>
<TABLE style=border-collapse:collapse;width:100%><TR><TD valign=top style='width:50%;border-bottom:0.5pt solid #000000'><P align=center style='font:10pt stHtmlOvrFontNm;margin:0'>Nevada</P>
</TD><TD valign=top style=width:1.28%><P align=center style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style='width:50%;border-bottom:0.5pt solid #000000'><P align=center style='font:10pt stHtmlOvrFontNm;margin:0'>27-4029386</P>
</TD></TR>
<TR><TD valign=top style='width:50%;border-top:0.5pt solid #000000'><P align=center style='font:10pt stHtmlOvrFontNm;margin:0'>(State or other jurisdiction of incorporation or organization)</P>
</TD><TD valign=top style=width:1.28%><P align=center style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style='width:50%;border-top:0.5pt solid #000000'><P align=center style='font:10pt stHtmlOvrFontNm;margin:0'>(I.R.S. Employer Identification No.)</P>
</TD></TR>
</TABLE>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>&#160;</FONT></P>
<TABLE style=border-collapse:collapse;width:100%><TR><TD valign=top style='width:50%;border-bottom:0.5pt solid #000000'><P align=center style='font:10pt stHtmlOvrFontNm;margin:0'>6191 Cornerstone Court E. Suite 114 San Diego, CA</P>
</TD><TD valign=top style=width:1%><P align=center style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style='width:50%;border-bottom:0.5pt solid #000000'><P align=center style='font:10pt stHtmlOvrFontNm;margin:0'>92121</P>
</TD></TR>
<TR><TD valign=top style='width:50%;border-top:0.5pt solid #000000'><P align=center style='font:10pt stHtmlOvrFontNm;margin:0'>(Address of Principal Executive Offices)</P>
</TD><TD valign=top style=width:1%><P align=center style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style='width:50%;border-top:0.5pt solid #000000'><P align=center style='font:10pt stHtmlOvrFontNm;margin:0'>(Zip Code)</P>
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</TABLE>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>&#160;</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>&#160;</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style='font-size:10pt;border-bottom:1px solid #000000'>2015 Stock Incentive Plan</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>(Full title of the plan)</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>&#160;</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>John W. Huemoeller II</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>Chief Executive Officer</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>Axim Biotechnologies, Inc.</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>6191 Cornerstone Court, E. Suite 114</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style='font-size:10pt;border-bottom:1px solid #000000'>San Diego, CA 92121</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>(Name and address of agent for service)</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>&#160;</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style='font-size:10pt;border-bottom:1px solid #000000'>(858) 923-4422</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>(Telephone number, including area code, of agent for service)</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>&#160;</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>_______________________________</FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>&#160;</FONT></P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>Indicate by check mark whether the registrant is a large accelerated filed, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer&#8221; and &#8220;smaller reporting company in Rule 12b-2 of the Exchange Act.</FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>&#160;</FONT></P>
<TABLE style=border-collapse:collapse;width:100%><TR><TD valign=top style=width:45.24%><P style='font:10pt stHtmlOvrFontNm;margin:0'>Large Accelerated filer&#160;<FONT style=font-family:Wingdings><FONT face=Wingdings>&#168;</FONT></FONT></P>
</TD><TD valign=top style=width:54.76%><P style='font:10pt stHtmlOvrFontNm;margin:0'>Accelerated filer&#160;<FONT style=font-family:Wingdings><FONT face=Wingdings>&#168;</FONT></FONT></P>
</TD></TR>
<TR><TD valign=top style=width:45.24%><P style='font:10pt stHtmlOvrFontNm;margin:0'>Non-accelerated filer&#160;&#160;&#160;&#160;<FONT style=font-family:Wingdings><FONT face=Wingdings>&#168;</FONT></FONT></P>
</TD><TD valign=top style=width:54.76%><P style='font:10pt stHtmlOvrFontNm;margin:0'>Smaller reporting company&#160;<FONT style=font-family:Wingdings>x</FONT></P>
</TD></TR>
<TR><TD valign=top style=width:45.24%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:54.76%><P style='font:10pt stHtmlOvrFontNm;margin:0'>Emerging Growth Company <FONT style=font-family:Wingdings><FONT face=Wingdings>&#168;</FONT></FONT></P>
</TD></TR>
</TABLE>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&#160;</P>
<P align=justify style='font:10pt stHtmlOvrFontNm;margin:0'>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 7(a)(2)(B) of the Securities Act. <FONT style=font-family:Wingdings>&#111;</FONT></P>
<HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style=line-height:0;margin:0></P>
<P style='font:10pt stHtmlOvrFontNm;margin-top:0pt;margin-bottom:8pt'>&nbsp;</P>
<P align=center style='font:10pt stHtmlOvrFontNm;margin:0;color:#000000;background-color:#FFFFFF'><B>EXPLANATORY NOTE</B></P>
<P align=center style='font:10pt stHtmlOvrFontNm;margin:0;color:#000000;background-color:#FFFFFF'>&nbsp;</P>
<P align=justify style='font:10pt stHtmlOvrFontNm;margin:0;text-indent:36pt;color:#000000;background-color:#FFFFFF'>We are filing this Registration Statement to register an additional 40,000,000 shares of our common stock, par value $0.0001 per share (the &#8220;Common Stock&#8221;), that may be acquired by Company employees under the Axim Biotechnologies, Inc. Stock Incentive Plan (the &#8220;Plan&#8221;), </P>
<P align=justify style='font:10pt stHtmlOvrFontNm;margin:0;text-indent:36pt;color:#000000;background-color:#FFFFFF'>&nbsp;</P>
<P align=justify style='font:10pt stHtmlOvrFontNm;margin:0;text-indent:36pt;color:#000000;background-color:#FFFFFF'>The increase in the number of shares authorized for issuance under the Plan, was approved by our stockholders on December 14, 2021. The full text of the Plan, as amended by that stockholder approval, will be sent to employees pursuant to Rule 428(b)(1) promulgated by the Securities and Exchange Commission (the &#8220;Commission&#8221;) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;). The full text of the Plan is available on the Commission&#8217;s website as an exhibit to our Registration Statement on Form S-8 (Reg. No.&#160;333-204574), filed with the Commission on May 29, 2015 (the &#8220;Original Registration Statement&#8221;).</P>
<P align=justify style='font:10pt stHtmlOvrFontNm;margin:0;text-indent:36pt;color:#000000;background-color:#FFFFFF'>&nbsp;</P>
<P align=justify style='font:10pt stHtmlOvrFontNm;margin:0;text-indent:36pt;color:#000000;background-color:#FFFFFF'>We previously filed the Original Registration Statement on May 29, 2015, covering 10,000,000 shares of our Common Stock under the Plan. Pursuant to General Instruction E to Form S-8, the contents of the Original Registration Statement, including the periodic and current reports that we filed with the Commission after the effectiveness of the Original Registration Statement, are incorporated herein by reference except to the extent supplemented, amended or superseded by the information set forth herein. Any items in the Original Registration Statement not expressly changed hereby shall be as set forth in the Original Registration Statement.</P>
<HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style=line-height:0;margin:0></P>
<P style='font:12pt stHtmlOvrFontNm;margin-top:0pt;margin-bottom:8pt'>&nbsp;</P>
<P align=center style='font:10pt stHtmlOvrFontNm;margin:0'><B>PART I</B></P>
<P align=center style='font:10pt stHtmlOvrFontNm;margin:0'><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>Axim Biotechnologies, Inc. (the &#8220;Company&#8221;) prepared this Registration Statement in accordance with the requirements of Form S-8 under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), to register an aggregate of 40,000,000 shares of the Company&#8217;s common stock that may be issued pursuant to the Axim Biotechnologies, Inc. 2015 Stock Incentive Plan (the &#8220;Plan&#8221;). The documents containing the information specified in Part I of this Registration Statement will be sent or given to participants in the Plan, as specified by Rule 428(b)(1) promulgated under the Securities Act. Such documents need not be filed with the Securities and Exchange Commission (the &#8220;Commission&#8221;) either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 promulgated under the Securities Act. These documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3, Part II of this Registration Statement, taken together, constitute a prospectus that meets the requirement of Section 10(a) of the Securities Act.</FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt><B>PART II</B></FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></FONT></P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt><B>Item 3. </B><B>Incorporation of Documents by Reference.</B></FONT></P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>The following documents filed with the Commission are incorporated herein by reference, other than those furnished pursuant to Item 2.02 or Item 7.01 of Current Reports on Form 8-K:</FONT></P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt stHtmlOvrFontNm;margin:0;text-indent:18pt'>(a) The Company&#8217;s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the Commission on April 15, 2022 (extended pursuant to the Form 12b-25, filed with the Commission on March 31, 2022, and the amendment thereto filed on April 19, 2022);</P>
<P align=justify style='font:10pt stHtmlOvrFontNm;margin:0;text-indent:18pt'>&nbsp;</P>
<P align=justify style='font:10pt stHtmlOvrFontNm;margin:0;text-indent:18pt'>(b) The Company&#8217;s Quarterly Report filed on Form 10-Q for the period ended March 31, 2022, filed with the Commission on May 23, 2022 (extended pursuant to the Form 12b-25, filed with the Commission on May 17, 2022);</P>
<P align=justify style='font:10pt stHtmlOvrFontNm;margin:0;text-indent:18pt'>&nbsp;</P>
<P align=justify style='font:10pt stHtmlOvrFontNm;margin:0;text-indent:18pt'>(c) The Company&#8217;s Current Reports on Form 8-K filed with the Commission since December 31, 2021:</P>
<P align=justify style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt stHtmlOvrFontNm;margin:0;text-indent:36pt'>i. &nbsp;Current Report on Form 8-K, filed with the Commission on March 9, 2022;</P>
<P align=justify style='font:10pt stHtmlOvrFontNm;margin:0;text-indent:36pt'>ii. Current Report on Form 8-K, filed with the Commission on February 16, 2022;</P>
<P align=justify style='font:10pt stHtmlOvrFontNm;margin:0;text-indent:18pt;margin-left:18pt'>iii. Current Report on Form 8-K, filed with the Commission on January 12, 2022; and</P>
<P align=justify style='font:10pt stHtmlOvrFontNm;margin:0;text-indent:36pt'>iv. Current Report on Form 8-K, filed with the Commission on January 7, 2022.</P>
<P align=justify style='font:10pt stHtmlOvrFontNm;margin:0;margin-left:54pt'>&nbsp;</P>
<P align=justify style='font:10pt stHtmlOvrFontNm;margin:0'>In addition, all documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), excluding any information furnished pursuant to any Current Report on Form 8-K, prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document that also is or is deemed to be incorporated by reference herein, as the case may be, modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</P>
<HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style=line-height:0;margin:0></P>
<P style='font:10pt stHtmlOvrFontNm;margin-top:0pt;margin-bottom:8pt'>&nbsp;</P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt><B>Item 4.</B><B> </B><B>Description of Securities.</B></FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>The authorized capital stock of the Company consists of 300,000,000 shares of common stock, par value $0.0001 per share, and 5,000,000 shares of preferred stock, par value $0.0001. All outstanding shares of common stock are, and the shares to be issued as contemplated herein will be, fully paid and nonassessable. Holders of the common stock are entitled to one vote per share in all matters to be voted upon by the stockholders. Holders of common stock are not entitled to cumulative voting rights with respect to the election of directors. Holders of common stock have equal ratable rights to dividends from funds legally available therefor, when, as and if declared by the Board of Directors of the Company. The Company does not anticipate paying dividends in the near future. In the event of a liquidation, dissolution or winding-up of the Company, the holders of common stock are entitled to share equally, on a share for share basis, in all assets remaining after payment of liabilities, subject to the prior distribution rights of any other classes or series of capital stock then outstanding. The common stock has no preemptive rights and is neither redeemable nor convertible, and there are no sinking fund provisions.</FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt><B>Item 5.</B><B> </B><B>Interests of Named Experts and Counsel.</B></FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>Not applicable.</FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt><B>Item 6. Indemnification of Officers and Directors.</B></FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>Subsection 1 of Section 78.037 of the Nevada Revised Statutes (the &#8220;Nevada Law&#8221;) empowers a corporation to eliminate or limit the personal liability of a director or officer to the corporation or its stockholders for damages for breach of fiduciary duty as a director or officer, but such a provision must not eliminate or limit the liability of a director or officer for (a) acts or omissions which involve intentional misconduct, fraud or a knowing violation of law or (b) the payment of distributions in violation of Section 78.300 of the Nevada Law.</FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>Subsection 1 of Section 78.7502 of the Nevada Law empowers a corporation to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact that he or she is or was a director, officer, employee or agent of the corporation or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise (an &#8220;Indemnified Party&#8221;), against expenses (including attorneys&#8217; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by the Indemnified Party in connection with such action, suit or proceeding if the Indemnified Party acted in good faith and in a manner the Indemnified Party reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceedings, had no reasonable cause to believe the Indemnified Party&#8217;s conduct was unlawful.</FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>Subsection 2 of Section 78.7502 of the Nevada Law empowers a corporation to indemnify any Indemnified Party who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that such person acted in the capacity of an Indemnified Party against expenses, including amounts paid in settlement and attorneys&#8217; fees actually and reasonably incurred by the Indemnified Party in connection with the defense or settlement of such action or suit if the Indemnified Party acted under standards similar to those set forth above, except that no indemnification may be made in respect of any claim, issue or matter as to which the Indemnified Party shall have been adjudged to be liable to the corporation or for amounts paid in settlement to the corporation unless and only to the extent that the court in which such action or suit was brought determines upon application that in view of all the circumstances the Indemnified Party is fairly and reasonably entitled to indemnity for such expenses as the court deems proper.</FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>Section 78.7502 of the Nevada Law further provides that to the extent an Indemnified Party has been successful on the merits or otherwise in the defense of any action, suit or proceeding referred to in subsection (1) or (2) described above or in the defense of any claim, issue or matter therein, the corporation shall indemnify the Indemnified Party against expenses (including attorneys&#8217; fees) actually and reasonably incurred by the Indemnified Party in connection therewith.</FONT></P>
<HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style=line-height:0;margin:0></P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>Subsection 1 of Section 78.751 of the Nevada Law provides that any discretionary indemnification under Section 78.7502 of the Nevada Law, unless ordered by a court or advanced pursuant to Subsection 2 of Section 78.751, may be made by a corporation only as authorized in the specific case upon a determination that indemnification of the Indemnified Person is proper in the circumstances. Such determination must be made (a) by the stockholders, (b) by the board of directors of the corporation by majority vote of a quorum consisting of directors who were not parties to the action, suit or proceeding, (c) if a majority vote of a quorum of such disinterested directors so orders, by independent legal counsel in a written opinion, or (d) by independent legal counsel in a written opinion if a quorum of such disinterested directors cannot be obtained.</FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>Subsection 2 of Section 78.751 of the Nevada Law provides that a corporation&#8217;s articles of incorporation or bylaws or an agreement made by the corporation may require the corporation to pay as incurred and in advance of the final disposition of a criminal or civil action, suit or proceeding, the expenses of officers and directors in defending such action, suit or proceeding upon receipt by the corporation of an undertaking by or on behalf of the officer or director to repay the amount if it is ultimately determined by a court that he is not entitled to be indemnified by the corporation. Said Subsection 2 further provides that the provisions of that Subsection 2 do not affect any rights to advancement of expenses to which corporate personnel other than officers and directors may be entitled under contract or otherwise by law.</FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>Subsection 3 of Section 78.751 of the Nevada Law provides that indemnification and advancement of expenses authorized in or ordered by a court pursuant to said Section 78.751 does not exclude any other rights to which the Indemnified Party may be entitled under the articles of incorporation or any by-law, agreement, vote of stockholders or disinterested directors or otherwise, for either an action in his official capacity or in another capacity while holding his office. However, indemnification, unless ordered by a court pursuant to Section 78.7502 or for the advancement of expenses under Subsection 2 of Section 78.751 of the Nevada Law, may not be made to or on behalf of any director or officer of the corporation if a final adjudication establishes that his or her acts or omissions involved intentional misconduct, fraud or a knowing violation of the law and was material to the cause of action. Additionally, the scope of such indemnification and advancement of expenses shall continue as to an Indemnified Party who has ceased to hold one of the positions specified above, and shall inure to the benefit of his or her heirs, executors and administrators.</FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>Section 78.752 of the Nevada Law empowers a corporation to purchase and maintain insurance or make other financial arrangements on behalf of an Indemnified Party for any liability asserted against such person and liabilities and expenses incurred by such person in his or her capacity as an Indemnified Party or arising out of such person&#8217;s status as an Indemnified Party whether or not the corporation has the authority to indemnify such person against such liability and expenses.</FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>The Bylaws of the Company provide for indemnification of Indemnified Parties substantially identical in scope to that permitted under the Nevada Law. Such Bylaws provide that the expenses of directors and officers of the Company incurred in defending any action, suit or proceeding, whether civil, criminal, administrative or investigative, must be paid by the Company as they are incurred and in advance of the final disposition of the action, suit or proceeding, upon receipt of an undertaking by or on behalf of such director or officer to repay all amounts so advanced if it is ultimately determined by a court of competent jurisdiction that the director or officer is not entitled to be indemnified by the Company.</FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt><B>Item 7. Exemption from Registration Claimed.</B></FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>Not applicable.</FONT></P>
<HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style=line-height:0;margin:0></P>
<P style='font:10pt stHtmlOvrFontNm;margin-top:0pt;margin-bottom:8pt'>&nbsp;</P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt><B>Item 8. Exhibits</B></FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<TABLE style=border-collapse:collapse;width:100%><TR><TD valign=top style='width:15.36%;border-bottom:0.5pt solid #000000'><P style='font:10pt stHtmlOvrFontNm;margin:0'><B>Exhibit</B> <B>No.</B></P>
</TD><TD valign=top style=width:1.56%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style='width:83.08%;border-bottom:0.5pt solid #000000'><P style='font:10pt stHtmlOvrFontNm;margin:0'><B>Description</B></P>
</TD></TR>
<TR><TD valign=top style='width:15.36%;border-top:0.5pt solid #000000'><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:1.56%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style='width:83.08%;border-top:0.5pt solid #000000'><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=top bgcolor=#D3F0FE style=width:15.36%><P style='font:10pt stHtmlOvrFontNm;margin:0'><B>4.1</B></P>
</TD><TD valign=top bgcolor=#D3F0FE style=width:1.56%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top bgcolor=#D3F0FE style=width:83.08%><P style='font:10pt stHtmlOvrFontNm;margin:0'><FONT style='color:#0563C1;border-bottom:1px solid #0563C1'><A href=axim_ex4z1.htm style=text-decoration:none>Axim Biotechnologies, Inc. 2015 Stock Incentive Plan*</A></FONT></P>
</TD></TR>
<TR><TD valign=top style=width:15.36%><P style='font:10pt stHtmlOvrFontNm;margin:0'><B>4.2</B></P>
</TD><TD valign=top style=width:1.56%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:83.08%><P style='font:10pt stHtmlOvrFontNm;margin:0'><FONT style='color:#0563C1;border-bottom:1px solid #0563C1'><A href=axim_ex4z2.htm style=text-decoration:none>Form of Stock Award Agreement*</A></FONT></P>
</TD></TR>
<TR><TD valign=top bgcolor=#D3F0FE style=width:15.36%><P style='font:10pt stHtmlOvrFontNm;margin:0'><B>4.3</B></P>
</TD><TD valign=top bgcolor=#D3F0FE style=width:1.56%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top bgcolor=#D3F0FE style=width:83.08%><P style='font:10pt stHtmlOvrFontNm;margin:0'><FONT style='color:#0563C1;border-bottom:1px solid #0563C1'><A href=axim_ex4z3.htm style=text-decoration:none>Form of Stock Option Grant Notice*</A></FONT></P>
</TD></TR>
<TR><TD valign=top style=width:15.36%><P style='font:10pt stHtmlOvrFontNm;margin:0'><B>5.1</B></P>
</TD><TD valign=top style=width:1.56%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:83.08%><P style='font:10pt stHtmlOvrFontNm;margin:0'><FONT style='color:#0563C1;border-bottom:1px solid #0563C1'><A href=axim_ex5z1.htm style=text-decoration:none>Opinion of&#160;Phillip E. Koehnke, APC</A></FONT></P>
</TD></TR>
<TR><TD valign=top bgcolor=#D3F0FE style=width:15.36%><P style='font:10pt stHtmlOvrFontNm;margin:0'><B>5.2</B></P>
</TD><TD valign=top bgcolor=#D3F0FE style=width:1.56%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top bgcolor=#D3F0FE style=width:83.08%><P style='font:10pt stHtmlOvrFontNm;margin:0'><FONT style='color:#0563C1;border-bottom:1px solid #0563C1'><A href=axim_ex5z2.htm style=text-decoration:none>Amended Axim Biotechnologies, Inc. 2015 Stock Incentive Plan*</A></FONT> </P>
</TD></TR>
<TR><TD valign=top style=width:15.36%><P style='font:10pt stHtmlOvrFontNm;margin:0'><B>23.1</B></P>
</TD><TD valign=top style=width:1.56%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:83.08%><P style='font:10pt stHtmlOvrFontNm;margin:0'><FONT style='color:#0563C1;border-bottom:1px solid #0563C1'><A href=axim_ex23z1.htm style=text-decoration:none>Consent of RBSM LLP*</A></FONT></P>
</TD></TR>
<TR><TD valign=top bgcolor=#D3F0FE style=width:15.36%><P style='font:10pt stHtmlOvrFontNm;margin:0'><B>24</B></P>
</TD><TD valign=top bgcolor=#D3F0FE style=width:1.56%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&#160;&#160;</P>
</TD><TD valign=top bgcolor=#D3F0FE style=width:83.08%><P style='font:10pt stHtmlOvrFontNm;margin:0'>Power of Attorney (included on signature page)*</P>
</TD></TR>
<TR><TD valign=top style=width:15.36%><P style='font:10pt stHtmlOvrFontNm;margin:0'><B>107</B></P>
</TD><TD valign=top style=width:1.56%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:83.08%><P style='font:10pt stHtmlOvrFontNm;margin:0'><FONT style='color:#0563C1;border-bottom:1px solid #0563C1'><A href=axim_ex107.htm style=text-decoration:none>Filing Fee Table</A></FONT></P>
</TD></TR>
</TABLE>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt><B>*</B> Filed herewith</FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt><B>Item 9.</B><B> </B><B>Undertakings</B></FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>The Company hereby undertakes to file, during the period in which any offers or sales are being made, a post-effective amendment to this registration statement to include any prospectus required by section 10(a)(3) of the Securities Act, and to reflect in such prospectus any material change in the information contained in this registration statement and to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>The Company hereby undertakes to deliver or cause to be delivered with the prospectus, to each person to whom the prospectus is sent or given, the latest annual report to security holders that is incorporated by reference to the prospectus and furnish pursuant to any meeting the requirements of Rule 14a-3 or Rule 14c-3 under the Exchange Act; and, to deliver or cause to be delivered to each person to whom the prospectus is sent or given, the latest quarterly report that is specifically incorporated by reference in the prospectus.</FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>The undersigned hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Company&#8217;s annual report pursuant to section 13(a) or section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt>Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or otherwise, the Company has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Exchange Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Company of expenses incurred or paid by a director, officer or controlling person of the Company in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Company will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Exchange Act and will be governed by the final adjudication of such issue.</FONT></P>
<HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style=line-height:0;margin:0></P>
<P style='font:12pt stHtmlOvrFontNm;margin-top:0pt;margin-bottom:8pt'>&nbsp;</P>
<P align=center style='font:12pt stHtmlOvrFontNm;margin:0'><FONT style=font-size:10pt><B>SIGNATURES</B></FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
<P align=justify style='font:12pt stHtmlOvrFontNm;margin:0;text-indent:36pt'><FONT style=font-size:10pt>Pursuant to the requirements of the Securities Act, the Company certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunder duly authorized in San Diego, California on June 13, 2022.</FONT></P>
<P style='font:12pt stHtmlOvrFontNm;margin:0;margin-left:85.5pt'>&nbsp;</P>
<TABLE style=border-collapse:collapse;width:100%><TR><TD valign=top style=width:62.5%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD colspan=2 valign=top style=width:37.5%><P style='font:10pt stHtmlOvrFontNm;margin:0'><B>AXIM BIOTECHNOLOGIES, INC.</B></P>
</TD></TR>
<TR><TD valign=top style=width:62.5%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:3.84%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:33.66%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=top style=width:62.5%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:3.84%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:33.66%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=top style=width:62.5%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:3.84%><P style='font:10pt stHtmlOvrFontNm;margin:0'>By:</P>
</TD><TD valign=top style='width:33.66%;border-bottom:0.5pt solid #000000'><P style='font:10pt stHtmlOvrFontNm;margin:0'>/<I>s/ John W. Huemoeller II</I></P>
</TD></TR>
<TR><TD valign=top style=width:62.5%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:3.84%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style='width:33.66%;border-top:0.5pt solid #000000'><P style='font:10pt stHtmlOvrFontNm;margin:0'>John W. Huemoeller II </P>
</TD></TR>
<TR><TD valign=top style=width:62.5%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:3.84%><P style='font:10pt stHtmlOvrFontNm;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:33.66%><P style='font:10pt stHtmlOvrFontNm;margin:0'>Chief Executive Officer</P>
</TD></TR>
</TABLE>
<P style='font:12pt stHtmlOvrFontNm;margin:0;margin-left:85.5pt'>&nbsp;</P>
</DIV>
</BODY>
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
Axim Biotechnologies, Inc.
(Exact name of registrant as specified in its charter)
Nevada
27-4029386
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
6191 Cornerstone Court E. Suite 114 San Diego, CA
92121
(Address of Principal Executive Offices)
(Zip Code)
2015 Stock Incentive Plan
(Full title of the plan)
John W. Huemoeller II
Chief Executive Officer
Axim Biotechnologies, Inc.
6191 Cornerstone Court, E. Suite 114
San Diego, CA 92121
(Name and address of agent for service)
(858) 923-4422
(Telephone number, including area code, of agent for service)
_______________________________
Indicate by check mark whether the registrant is a large accelerated filed, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company in Rule 12b-2 of the Exchange Act.
Large Accelerated filer
¨
Accelerated filer
¨
Non-accelerated filer
¨
Smaller reporting company
x
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 7(a)(2)(B) of the Securities Act.
o
EXPLANATORY NOTE
We are filing this Registration Statement to register an additional 40,000,000 shares of our common stock, par value $0.0001 per share (the "Common Stock"), that may be acquired by Company employees under the Axim Biotechnologies, Inc. Stock Incentive Plan (the "Plan"),
The increase in the number of shares authorized for issuance under the Plan, was approved by our stockholders on December 14, 2021. The full text of the Plan, as amended by that stockholder approval, will be sent to employees pursuant to Rule 428(b)(1) promulgated by the Securities and Exchange Commission (the "Commission") under the Securities Act of 1933, as amended (the "Securities Act"). The full text of the Plan is available on the Commission's website as an exhibit to our Registration Statement on Form S-8 (Reg. No. 333-204574), filed with the Commission on May 29, 2015 (the "Original Registration Statement").
We previously filed the Original Registration Statement on May 29, 2015, covering 10,000,000 shares of our Common Stock under the Plan. Pursuant to General Instruction E to Form S-8, the contents of the Original Registration Statement, including the periodic and current reports that we filed with the Commission after the effectiveness of the Original Registration Statement, are incorporated herein by reference except to the extent supplemented, amended or superseded by the information set forth herein. Any items in the Original Registration Statement not expressly changed hereby shall be as set forth in the Original Registration Statement.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Axim Biotechnologies, Inc. (the "Company") prepared this Registration Statement in accordance with the requirements of Form S-8 under the Securities Act of 1933, as amended (the "Securities Act"), to register an aggregate of 40,000,000 shares of the Company's common stock that may be issued pursuant to the Axim Biotechnologies, Inc. 2015 Stock Incentive Plan (the "Plan"). The documents containing the information specified in Part I of this Registration Statement will be sent or given to participants in the Plan, as specified by Rule 428(b)(1) promulgated under the Securities Act. Such documents need not be filed with the Securities and Exchange Commission (the "Commission") either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 promulgated under the Securities Act. These documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3, Part II of this Registration Statement, taken together, constitute a prospectus that meets the requirement of Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference.
The following documents filed with the Commission are incorporated herein by reference, other than those furnished pursuant to Item 2.02 or Item 7.01 of Current Reports on Form 8-K:
(a) The Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the Commission on April 15, 2022 (extended pursuant to the Form 12b-25, filed with the Commission on March 31, 2022, and the amendment thereto filed on April 19, 2022);
(b) The Company's Quarterly Report filed on Form 10-Q for the period ended March 31, 2022, filed with the Commission on May 23, 2022 (extended pursuant to the Form 12b-25, filed with the Commission on May 17, 2022);
(c) The Company's Current Reports on Form 8-K filed with the Commission since December 31, 2021:
i.  Current Report on Form 8-K, filed with the Commission on March 9, 2022;
ii. Current Report on Form 8-K, filed with the Commission on February 16, 2022;
iii. Current Report on Form 8-K, filed with the Commission on January 12, 2022; and
iv. Current Report on Form 8-K, filed with the Commission on January 7, 2022.
In addition, all documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), excluding any information furnished pursuant to any Current Report on Form 8-K, prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document that also is or is deemed to be incorporated by reference herein, as the case may be, modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 4.
Description of Securities.
The authorized capital stock of the Company consists of 300,000,000 shares of common stock, par value $0.0001 per share, and 5,000,000 shares of preferred stock, par value $0.0001. All outstanding shares of common stock are, and the shares to be issued as contemplated herein will be, fully paid and nonassessable. Holders of the common stock are entitled to one vote per share in all matters to be voted upon by the stockholders. Holders of common stock are not entitled to cumulative voting rights with respect to the election of directors. Holders of common stock have equal ratable rights to dividends from funds legally available therefor, when, as and if declared by the Board of Directors of the Company. The Company does not anticipate paying dividends in the near future. In the event of a liquidation, dissolution or winding-up of the Company, the holders of common stock are entitled to share equally, on a share for share basis, in all assets remaining after payment of liabilities, subject to the prior distribution rights of any other classes or series of capital stock then outstanding. The common stock has no preemptive rights and is neither redeemable nor convertible, and there are no sinking fund provisions.
Item 5.
Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Officers and Directors.
Subsection 1 of Section 78.037 of the Nevada Revised Statutes (the "Nevada Law") empowers a corporation to eliminate or limit the personal liability of a director or officer to the corporation or its stockholders for damages for breach of fiduciary duty as a director or officer, but such a provision must not eliminate or limit the liability of a director or officer for (a) acts or omissions which involve intentional misconduct, fraud or a knowing violation of law or (b) the payment of distributions in violation of Section 78.300 of the Nevada Law.
Subsection 1 of Section 78.7502 of the Nevada Law empowers a corporation to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact that he or she is or was a director, officer, employee or agent of the corporation or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise (an "Indemnified Party"), against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by the Indemnified Party in connection with such action, suit or proceeding if the Indemnified Party acted in good faith and in a manner the Indemnified Party reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceedings, had no reasonable cause to believe the Indemnified Party's conduct was unlawful.
Subsection 2 of Section 78.7502 of the Nevada Law empowers a corporation to indemnify any Indemnified Party who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that such person acted in the capacity of an Indemnified Party against expenses, including amounts paid in settlement and attorneys' fees actually and reasonably incurred by the Indemnified Party in connection with the defense or settlement of such action or suit if the Indemnified Party acted under standards similar to those set forth above, except that no indemnification may be made in respect of any claim, issue or matter as to which the Indemnified Party shall have been adjudged to be liable to the corporation or for amounts paid in settlement to the corporation unless and only to the extent that the court in which such action or suit was brought determines upon application that in view of all the circumstances the Indemnified Party is fairly and reasonably entitled to indemnity for such expenses as the court deems proper.
Section 78.7502 of the Nevada Law further provides that to the extent an Indemnified Party has been successful on the merits or otherwise in the defense of any action, suit or proceeding referred to in subsection (1) or (2) described above or in the defense of any claim, issue or matter therein, the corporation shall indemnify the Indemnified Party against expenses (including attorneys' fees) actually and reasonably incurred by the Indemnified Party in connection therewith.
Subsection 1 of Section 78.751 of the Nevada Law provides that any discretionary indemnification under Section 78.7502 of the Nevada Law, unless ordered by a court or advanced pursuant to Subsection 2 of Section 78.751, may be made by a corporation only as authorized in the specific case upon a determination that indemnification of the Indemnified Person is proper in the circumstances. Such determination must be made (a) by the stockholders, (b) by the board of directors of the corporation by majority vote of a quorum consisting of directors who were not parties to the action, suit or proceeding, (c) if a majority vote of a quorum of such disinterested directors so orders, by independent legal counsel in a written opinion, or (d) by independent legal counsel in a written opinion if a quorum of such disinterested directors cannot be obtained.
Subsection 2 of Section 78.751 of the Nevada Law provides that a corporation's articles of incorporation or bylaws or an agreement made by the corporation may require the corporation to pay as incurred and in advance of the final disposition of a criminal or civil action, suit or proceeding, the expenses of officers and directors in defending such action, suit or proceeding upon receipt by the corporation of an undertaking by or on behalf of the officer or director to repay the amount if it is ultimately determined by a court that he is not entitled to be indemnified by the corporation. Said Subsection 2 further provides that the provisions of that Subsection 2 do not affect any rights to advancement of expenses to which corporate personnel other than officers and directors may be entitled under contract or otherwise by law.
Subsection 3 of Section 78.751 of the Nevada Law provides that indemnification and advancement of expenses authorized in or ordered by a court pursuant to said Section 78.751 does not exclude any other rights to which the Indemnified Party may be entitled under the articles of incorporation or any by-law, agreement, vote of stockholders or disinterested directors or otherwise, for either an action in his official capacity or in another capacity while holding his office. However, indemnification, unless ordered by a court pursuant to Section 78.7502 or for the advancement of expenses under Subsection 2 of Section 78.751 of the Nevada Law, may not be made to or on behalf of any director or officer of the corporation if a final adjudication establishes that his or her acts or omissions involved intentional misconduct, fraud or a knowing violation of the law and was material to the cause of action. Additionally, the scope of such indemnification and advancement of expenses shall continue as to an Indemnified Party who has ceased to hold one of the positions specified above, and shall inure to the benefit of his or her heirs, executors and administrators.
Section 78.752 of the Nevada Law empowers a corporation to purchase and maintain insurance or make other financial arrangements on behalf of an Indemnified Party for any liability asserted against such person and liabilities and expenses incurred by such person in his or her capacity as an Indemnified Party or arising out of such person's status as an Indemnified Party whether or not the corporation has the authority to indemnify such person against such liability and expenses.
The Bylaws of the Company provide for indemnification of Indemnified Parties substantially identical in scope to that permitted under the Nevada Law. Such Bylaws provide that the expenses of directors and officers of the Company incurred in defending any action, suit or proceeding, whether civil, criminal, administrative or investigative, must be paid by the Company as they are incurred and in advance of the final disposition of the action, suit or proceeding, upon receipt of an undertaking by or on behalf of such director or officer to repay all amounts so advanced if it is ultimately determined by a court of competent jurisdiction that the director or officer is not entitled to be indemnified by the Company.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits
Exhibit
No.
Description
4.1
Axim Biotechnologies, Inc. 2015 Stock Incentive Plan*
4.2
Form of Stock Award Agreement*
4.3
Form of Stock Option Grant Notice*
5.1
Opinion of Phillip E. Koehnke, APC
5.2
Amended Axim Biotechnologies, Inc. 2015 Stock Incentive Plan*
23.1
Consent of RBSM LLP*
24
Power of Attorney (included on signature page)*
107
Filing Fee Table
*
Filed herewith
Item 9.
Undertakings
The Company hereby undertakes to file, during the period in which any offers or sales are being made, a post-effective amendment to this registration statement to include any prospectus required by section 10(a)(3) of the Securities Act, and to reflect in such prospectus any material change in the information contained in this registration statement and to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
The Company hereby undertakes to deliver or cause to be delivered with the prospectus, to each person to whom the prospectus is sent or given, the latest annual report to security holders that is incorporated by reference to the prospectus and furnish pursuant to any meeting the requirements of Rule 14a-3 or Rule 14c-3 under the Exchange Act; and, to deliver or cause to be delivered to each person to whom the prospectus is sent or given, the latest quarterly report that is specifically incorporated by reference in the prospectus.
The undersigned hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Company's annual report pursuant to section 13(a) or section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or otherwise, the Company has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Exchange Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Company of expenses incurred or paid by a director, officer or controlling person of the Company in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Company will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Exchange Act and will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act, the Company certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunder duly authorized in San Diego, California on June 13, 2022.
AXIM BIOTECHNOLOGIES, INC.
By:
/
s/ John W. Huemoeller II
John W. Huemoeller II
Chief Executive Officer