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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">UNITED STATES</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington, D.C. 20549</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT REPORT</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of Report (Date of earliest event reported):<font style="DISPLAY: inline; FONT-WEIGHT: bold"> November 29, 2011</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 20pt; FONT-FAMILY: Times New Roman">PANACEA GLOBAL, INC.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Nevada</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(State or other jurisdiction of incorporation or organization)</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(IRS Employer Identification No.)</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">88 Toporowski Ave., Richmond Hill</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings">o</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings">o</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM 1.01<font id="TAB1" style="MARGIN-LEFT: 12pt"></font>ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On November 29, 2011 (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Effective Date</font>&#8221;), Panacea Global, Inc., a Nevada corporation (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Company</font>&#8221;), through its wholly owned subsidiary, Panacea Global, Inc., a corporation organized under the laws of the State of Delaware (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Panacea Delaware</font>&#8221;) and owner of an exclusive license for services to diagnose and monitor cancer (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Cancer Testing Products</font>&#8221;),&#160;entered into a certain Exclusive Sublicense Agreement (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Sublicense Agreement</font>&#8221;) by and between the Company, Panacea Delaware,&#160;&#160;Panacea Global, Inc., a corporation organized under the laws of Ontario and wholly owned subsidiary of the Company (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Panacea Canada</font>&#8221;), Panacea Pharmaceuticals, Inc., a corporation organized under the laws of Maryland (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Pharmaceuticals</font>&#8221;), and Panacea Laboratories Inc., a corporation organized under the laws of Ontario (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Panacea Laboratories</font>&#8221;). Pursuant to the Sublicense Agreement, Panacea Laboratories obtained an exclusive sublicense to Cancer Testing Products.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to the Sublicense Agreement, Panacea Laboratories shall pay the Company nine hundred and sixty thousand dollars ($960,000) no later than three (3) years from the Effective Date. In addition, Panacea Laboratories shall issues forty million (40,000,000) shares of its common stock to Panacea Canada for forty thousand Canadian dollars (CAD$40,000).</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The term of the Sublicense Agreement shall commence from the Effective Date until the time that the patent underlying the Cancer Testing Products shall expire. In addition, either Panacea Delaware or Panacea Laboratories shall have the option to terminate the Sublicense Agreement for cause upon the occurrence of any of the following:&#160;&#160;(i) the entry of a decree or order for relief by a court having jurisdiction against or with respect to either Panacea Delaware or Panacea Laboratories , as applicable, in an involuntary case under applicable bankruptcy or insolvency laws or similar laws ordering the liquidation of such party; or (ii)&#160;&#160;(a) the appointment of a receiver, liquidator, assignee, custodian, trustee, or similar official for either Panacea Delaware or Panacea Laboratories or any of either Panacea Delaware or Panacea Laboratories&#8217; property, as applicable, and such petition is not unconditionally dismissed within ninety (90) days from the date of filing; or (b) a voluntary case filed by either Panacea Delaware or Panacea Laboratories under applicable federal, state or provincial bankruptcy or insolvency or similar laws or the consent by such party to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian or similar official for either Panacea Delaware or Panacea Laboratories or any of such party&#8217;s property, or the making by either Panacea Delaware or Panacea Laboratories of a general assignment for the benefit of creditors, or the failure by Panacea Delaware or Panacea Laboratories generally to pay its debts as they become due. In addition, upon the breach of any material provision of the Sublicense Agreement by either Panacea Delaware or Panacea Laboratories, or if Panacea Delaware or Panacea Laboratories&#160;&#160;has not cured such breach within ninety (90) days after written notice thereof by the non-breaching Party, either Panacea Delaware or Panacea Laboratories may terminate the Sublicense Agreement.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In addition to the Sublicense Agreement, Panacea Delaware and Panacea Laboratories also entered into Supply and Services Agreement (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Supply Agreement</font>&#8221;) dated as of November 29, 2011 and included as Exhibit A to the Sublicense Agreement. Pursuant to the Supply and Services Agreement, Panacea Laboratories shall obtain the Cancer Testing Products from Panacea Delaware.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The foregoing descriptions of the terms of the Sublicense Agreement and the Supply and Services Agreement are qualified in their entirety by reference to the provisions of the form of such agreements filed as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated by reference herein.</font></div>

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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM 9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;FINANCIAL STATEMENTS AND EXHIBITS</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURES</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.</font></div>

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[{"type": "8-K", "sequence": "1", "filename": "v242374_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 25110}]
{"company-data": {"conformed-name": "Panacea Global, Inc.", "cik": "0001024048", "assigned-sic": "6531", "irs-number": "330680443", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-30424", "film-number": "111244074"}, "business-address": {"street1": "88 TOPOROWSKI AVENUE", "city": "RICHMOND HILL", "state": "A6", "zip": "L4S 2V6", "phone": "714-418-1414"}, "mail-address": {"street1": "88 TOPOROWSKI AVENUE", "city": "RICHMOND HILL", "state": "A6", "zip": "L4S 2V6"}, "former-company": [{"former-conformed-name": "MONEYLOGIX GROUP INC.", "date-changed": "20080411"}, {"former-conformed-name": "HOMELIFE INC", "date-changed": "19980828"}]}
Unassociated Document
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):
November 29, 2011
PANACEA GLOBAL, INC.
(Exact name of registrant as specified in its charter)
Nevada
000-30424
33-0680443
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(IRS Employer Identification No.)
88 Toporowski Ave., Richmond Hill
Ontario, Canada L4S2V6
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:
(416) 450-6414
Not Applicable
(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:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
ITEM 1.01
ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On November 29, 2011 (the "
Effective Date
"), Panacea Global, Inc., a Nevada corporation (the "
Company
"), through its wholly owned subsidiary, Panacea Global, Inc., a corporation organized under the laws of the State of Delaware ("
Panacea Delaware
") and owner of an exclusive license for services to diagnose and monitor cancer (the "
Cancer Testing Products
"), entered into a certain Exclusive Sublicense Agreement (the "
Sublicense Agreement
") by and between the Company, Panacea Delaware,  Panacea Global, Inc., a corporation organized under the laws of Ontario and wholly owned subsidiary of the Company ("
Panacea Canada
"), Panacea Pharmaceuticals, Inc., a corporation organized under the laws of Maryland ("
Pharmaceuticals
"), and Panacea Laboratories Inc., a corporation organized under the laws of Ontario ("
Panacea Laboratories
"). Pursuant to the Sublicense Agreement, Panacea Laboratories obtained an exclusive sublicense to Cancer Testing Products.
Pursuant to the Sublicense Agreement, Panacea Laboratories shall pay the Company nine hundred and sixty thousand dollars ($960,000) no later than three (3) years from the Effective Date. In addition, Panacea Laboratories shall issues forty million (40,000,000) shares of its common stock to Panacea Canada for forty thousand Canadian dollars (CAD$40,000).
The term of the Sublicense Agreement shall commence from the Effective Date until the time that the patent underlying the Cancer Testing Products shall expire. In addition, either Panacea Delaware or Panacea Laboratories shall have the option to terminate the Sublicense Agreement for cause upon the occurrence of any of the following:  (i) the entry of a decree or order for relief by a court having jurisdiction against or with respect to either Panacea Delaware or Panacea Laboratories , as applicable, in an involuntary case under applicable bankruptcy or insolvency laws or similar laws ordering the liquidation of such party; or (ii)  (a) the appointment of a receiver, liquidator, assignee, custodian, trustee, or similar official for either Panacea Delaware or Panacea Laboratories or any of either Panacea Delaware or Panacea Laboratories' property, as applicable, and such petition is not unconditionally dismissed within ninety (90) days from the date of filing; or (b) a voluntary case filed by either Panacea Delaware or Panacea Laboratories under applicable federal, state or provincial bankruptcy or insolvency or similar laws or the consent by such party to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian or similar official for either Panacea Delaware or Panacea Laboratories or any of such party's property, or the making by either Panacea Delaware or Panacea Laboratories of a general assignment for the benefit of creditors, or the failure by Panacea Delaware or Panacea Laboratories generally to pay its debts as they become due. In addition, upon the breach of any material provision of the Sublicense Agreement by either Panacea Delaware or Panacea Laboratories, or if Panacea Delaware or Panacea Laboratories  has not cured such breach within ninety (90) days after written notice thereof by the non-breaching Party, either Panacea Delaware or Panacea Laboratories may terminate the Sublicense Agreement.
In addition to the Sublicense Agreement, Panacea Delaware and Panacea Laboratories also entered into Supply and Services Agreement (the "
Supply Agreement
") dated as of November 29, 2011 and included as Exhibit A to the Sublicense Agreement. Pursuant to the Supply and Services Agreement, Panacea Laboratories shall obtain the Cancer Testing Products from Panacea Delaware.
The foregoing descriptions of the terms of the Sublicense Agreement and the Supply and Services Agreement are qualified in their entirety by reference to the provisions of the form of such agreements filed as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated by reference herein.
ITEM 9.01       FINANCIAL STATEMENTS AND EXHIBITS
(d)        Exhibits
Exhibit
Number
Description
10.1
Sublicense Agreement, dated November 29, 2011.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
PANACEA GLOBAL, INC.
Date: December 5, 2011
By:
/s/ Mahmood Moshiri
Mahmood Moshiri
Chief Executive Officer