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<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">PURSUANT TO SECTION 13 OR 15(D) OF THE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SECURITIES EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report: <B>August 19, 2020</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>Kaival Brands Innovations Group, Inc.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 34%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>000-56016</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>83-3492907</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State&nbsp;or&nbsp;other&nbsp;jurisdiction&nbsp;of&nbsp;incorporation)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission File
    Number)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S. Employer
    Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>4460 Old Dixie Highway</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Grant, Florida 32949</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive office, including
zip code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Telephone: (833) 452-4825</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Securities registered pursuant to Section
12(b) of the Act:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 34%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title
    of each class</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Trading
    Symbol(s)</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name
    of each exchange on which registered</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right; text-indent: 4.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Emerging
growth company </FONT><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9746;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">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 13(a) of the Exchange Act. </FONT><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;<BR STYLE="clear: both">
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>Kaival Brands Innovations Group,
Inc.<BR>
Form 8-K</B>&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE
AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On August 19, 2020 (the &ldquo;Effective Date&rdquo;),
Kaival Brands Innovations Group, Inc., a Delaware corporation (the &ldquo;Company&rdquo;), entered into a Share Cancellation and
Exchange Agreement (the &ldquo;Agreement&rdquo;) with its controlling stockholder, Kaival Holdings, LLC, a Delaware limited liability
company (the &ldquo;Majority Stockholder&rdquo;). Nirajkumar Patel and Eric Mosser, our current officers and directors, are the
only members of the Majority Stockholder. Prior to entering into the Agreement, the Majority Stockholder owned 504,000,000 shares
of the Company&rsquo;s common stock, par value $0.001 per share (the &ldquo;Common Stock&rdquo;), which constituted approximately
87.42% of the Company&rsquo;s issued and outstanding shares of the Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the Agreement, the Majority Stockholder
voluntarily agreed to, and subsequently has, returned to the Company 300,000,000 shares of the Company&rsquo;s Common Stock (the
&ldquo;Cancellation Shares&rdquo;), which Cancellation Shares have now been cancelled and retired by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a result of returning the Cancellation
Shares to the Company, and the subsequent cancellation and retirement of the Cancellation Shares, the Company now has 276,495,148
shares of the Common Stock issued and outstanding, of which 204,000,000 shares are held by the Majority Stockholder, constituting
approximately 73.78% of the issued and outstanding shares of the Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In exchange for the Cancellation Shares the
Company issued 3,000,000 shares (the &ldquo;Preferred Shares&rdquo;) of its newly designated Series A Preferred Stock, par value
$0.001 per share (the &ldquo;Series A Preferred Stock&rdquo;) to the Majority Stockholder. The exchange of the Cancellation Shares
and the issuance of the Preferred Shares is intended to comply with Section 3(a)(9) of the Securities Act of 1933, as amended
(the &ldquo;Act&rdquo;), in that the issuance is exempt from the registration requirements of the Act because the exchange of
the Cancellation Shares for the Preferred Shares was an exchange between the Company, as issuer, with an existing stockholder,
and no commission or other remuneration was paid or given directly for the exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with the entering into of the
Agreement, on the Effective Date, the Company&rsquo;s Board of Directors approved the cancellation and retirement of&nbsp;the
Cancellation Shares and directed the Company&rsquo;s transfer agent, Mountain Share Transfer, Inc., to (i) cancel and retire the
Cancellation Shares and return such shares to the status of authorized and unissued shares of the Company&rsquo;s Common Stock
and (ii) issue the Preferred Shares to the Majority Stockholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The foregoing description of the Agreement
and does not purport to be a complete description of the terms of the Agreement and is qualified in its entirety by the full text
of the Agreement, which is filed as Exhibit 10.1 hereto and incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>Item
3.02. Unregistered Sale of Equity Securities</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The information set forth under Item 1.01
above and Item 5.03 below are incorporated by reference into this Item 3.02</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>Item
5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On August 19, 2020, upon approval by the Company&rsquo;s
Board of Directors, the Company filed a Certificate of Designation of Preferences, Rights, and Limitations of the Series A Preferred
Stock (the &ldquo;Certificate of Designation&rdquo;) with the Secretary of State of the State of Delaware, which authorizes a
total of 3,000,000 shares, par value $0.01 per share, of Series A Preferred Stock. The Certificate of Designation sets forth the
following terms:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Liquidation Preference</I>. If the Company
liquidates, dissolves, or winds up, holders of the Series A Preferred Stock will have the right to receive an amount equal to
$1.00 in the aggregate for all issued and outstanding shares of Series A Preferred Stock (as adjusted for any stock dividends,
combinations, splits, recapitalizations, and the like with respect to such shares) (the &ldquo;Preference Value&rdquo;). After
the payment of the full applicable Preference Value of the then issued and outstanding shares of the Series A Preferred Stock,
the remaining assets of the Company legally available for distribution, if any, will be distributed ratably to the holders of
the Company&rsquo;s Common Stock. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Dividends</I>. The h<FONT STYLE="color: #231F20">olders
of the Series A Preferred Stock do not </FONT>have any preferential dividend rights and are entitled to receive dividends, if
any, only if, when, and as declared by the Board of Directors in its sole and absolute discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #231F20"><I>Voting Rights. </I>The
holders have the Series A Preferred Stock do not have any voting rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Conversion Rights</I>. Each share of Series
A Preferred Stock is convertible into 100 shares of Common Stock. The holders have the Series A Preferred Stock may convert their
Series A Preferred Stock at any time on or after November 1, 2023. Notwithstanding the foregoing, the holders of the Series A
Preferred Stock may convert their shares of Series A Preferred Stock prior to November 1, 2023 if a change of control (as provided
for in the Certificate of Designation) or upon the occurrence of any other event as determined and agreed to by the Company and
the holders holding a majority of the issued and outstanding shares of Series A Preferred Stock. The shares of Common Stock to
be issued upon conversion will bear a restricted legend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Ranking</I>. All series of preferred stock,
whether now or hereafter designated, may by their respective terms have a preference over the Series A Preferred Stock in respect
of distribution upon liquidation, dividends, or any other right or matter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The foregoing description of the terms pertaining
to the Series A Preferred Stock is not complete and is qualified in its entirety by reference to the full text of the Certificate
of Designation, a copy of which is filed as Exhibit 3.1 to this Current Report on Form 8-K and incorporated by reference herein.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>ITEM 7.01 REGULATION FD DISCLOSURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On August 21, 2020, the Company issued a press
release announcing its entry into the Agreement and the issuance of 3,000,000 shares of its Series A Preferred Stock. A copy of
the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K (the &ldquo;Current Report&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The information in Exhibit 99.1 shall not
be deemed as &ldquo;filed&rdquo; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject
to the liability of such Section, nor shall it be deemed incorporated by reference in any filing by the Company under the Securities
Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, regardless of any general incorporation language
in such filing, unless expressed incorporated by specific reference in such filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(d) Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 7%; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
    Number</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 92%; border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description
    of Exhibit</B></FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate
    of Designation of the Preferences, Rights, and Limitations of the Series A Preferred Stock (1)</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Share
    Cancellation and Exchange Agreement, dated August 19, 2020, by and between the Company and Kaival Holdings, LLC (1)</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press
    Release of Kaival Brands Innovations Group, Inc., dated August 21, 2020 (1)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(1) Filed herewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">2</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR>
    <TD STYLE="width: 100%; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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 thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Kaival Brands Innovations Group, Inc.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 46%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated: August 21, 2020</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Nirajkumar
    Patel</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nirajkumar Patel</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer,<BR>
Chief Financial Officer, and Director</FONT></TD></TR>
</TABLE>
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[{"type": "8-K", "sequence": "1", "filename": "form8k_82120.htm", "description": "FORM 8-K", "secsgml_size_bytes": 26694}]
{"company-data": {"conformed-name": "Kaival Brands Innovations Group, Inc.", "cik": "0001762239", "assigned-sic": "6770", "irs-number": "833492907", "fiscal-year-end": "1031"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-56016", "film-number": "201123426"}, "business-address": {"street1": "4460 OLD DIXIE HIGHWAY", "city": "GRANT", "state": "FL", "zip": "32949", "phone": "(833) 452-4825"}, "mail-address": {"street1": "4460 OLD DIXIE HIGHWAY", "city": "GRANT", "state": "FL", "zip": "32949"}, "former-company": {"former-conformed-name": "Quick Start Holdings, Inc.", "date-changed": "20181218"}}
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:
August 19, 2020
Kaival Brands Innovations Group, Inc.
(Exact name of registrant as specified in its
charter)
Delaware
000-56016
83-3492907
(State or other jurisdiction of incorporation)
(Commission File
    Number)
(I.R.S. Employer
    Identification No.)
4460 Old Dixie Highway
Grant, Florida 32949
(Address of principal executive office, including
zip code)
Telephone: (833) 452-4825
(Registrant's telephone number, including
area code)
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))
Securities registered pursuant to Section
12(b) of the Act:
Title
    of each class
Trading
    Symbol(s)
Name
    of each exchange on which registered
None
None
None
Indicate by check mark whether the registrant
is an emerging growth company as defined 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 financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Kaival Brands Innovations Group,
Inc.
Form 8-K
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE
AGREEMENT
On August 19, 2020 (the "Effective Date"),
Kaival Brands Innovations Group, Inc., a Delaware corporation (the "Company"), entered into a Share Cancellation and
Exchange Agreement (the "Agreement") with its controlling stockholder, Kaival Holdings, LLC, a Delaware limited liability
company (the "Majority Stockholder"). Nirajkumar Patel and Eric Mosser, our current officers and directors, are the
only members of the Majority Stockholder. Prior to entering into the Agreement, the Majority Stockholder owned 504,000,000 shares
of the Company's common stock, par value $0.001 per share (the "Common Stock"), which constituted approximately
87.42% of the Company's issued and outstanding shares of the Common Stock.
Pursuant to the Agreement, the Majority Stockholder
voluntarily agreed to, and subsequently has, returned to the Company 300,000,000 shares of the Company's Common Stock (the
"Cancellation Shares"), which Cancellation Shares have now been cancelled and retired by the Company.
As a result of returning the Cancellation
Shares to the Company, and the subsequent cancellation and retirement of the Cancellation Shares, the Company now has 276,495,148
shares of the Common Stock issued and outstanding, of which 204,000,000 shares are held by the Majority Stockholder, constituting
approximately 73.78% of the issued and outstanding shares of the Common Stock.
In exchange for the Cancellation Shares the
Company issued 3,000,000 shares (the "Preferred Shares") of its newly designated Series A Preferred Stock, par value
$0.001 per share (the "Series A Preferred Stock") to the Majority Stockholder. The exchange of the Cancellation Shares
and the issuance of the Preferred Shares is intended to comply with Section 3(a)(9) of the Securities Act of 1933, as amended
(the "Act"), in that the issuance is exempt from the registration requirements of the Act because the exchange of
the Cancellation Shares for the Preferred Shares was an exchange between the Company, as issuer, with an existing stockholder,
and no commission or other remuneration was paid or given directly for the exchange.
In connection with the entering into of the
Agreement, on the Effective Date, the Company's Board of Directors approved the cancellation and retirement of the
Cancellation Shares and directed the Company's transfer agent, Mountain Share Transfer, Inc., to (i) cancel and retire the
Cancellation Shares and return such shares to the status of authorized and unissued shares of the Company's Common Stock
and (ii) issue the Preferred Shares to the Majority Stockholder.
The foregoing description of the Agreement
and does not purport to be a complete description of the terms of the Agreement and is qualified in its entirety by the full text
of the Agreement, which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
Item
3.02. Unregistered Sale of Equity Securities
The information set forth under Item 1.01
above and Item 5.03 below are incorporated by reference into this Item 3.02
Item
5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
On August 19, 2020, upon approval by the Company's
Board of Directors, the Company filed a Certificate of Designation of Preferences, Rights, and Limitations of the Series A Preferred
Stock (the "Certificate of Designation") with the Secretary of State of the State of Delaware, which authorizes a
total of 3,000,000 shares, par value $0.01 per share, of Series A Preferred Stock. The Certificate of Designation sets forth the
following terms:
Liquidation Preference
. If the Company
liquidates, dissolves, or winds up, holders of the Series A Preferred Stock will have the right to receive an amount equal to
$1.00 in the aggregate for all issued and outstanding shares of Series A Preferred Stock (as adjusted for any stock dividends,
combinations, splits, recapitalizations, and the like with respect to such shares) (the "Preference Value"). After
the payment of the full applicable Preference Value of the then issued and outstanding shares of the Series A Preferred Stock,
the remaining assets of the Company legally available for distribution, if any, will be distributed ratably to the holders of
the Company's Common Stock.
Dividends
. The h
olders
of the Series A Preferred Stock do not
have any preferential dividend rights and are entitled to receive dividends, if
any, only if, when, and as declared by the Board of Directors in its sole and absolute discretion.
Voting Rights.
The
holders have the Series A Preferred Stock do not have any voting rights.
Conversion Rights
. Each share of Series
A Preferred Stock is convertible into 100 shares of Common Stock. The holders have the Series A Preferred Stock may convert their
Series A Preferred Stock at any time on or after November 1, 2023. Notwithstanding the foregoing, the holders of the Series A
Preferred Stock may convert their shares of Series A Preferred Stock prior to November 1, 2023 if a change of control (as provided
for in the Certificate of Designation) or upon the occurrence of any other event as determined and agreed to by the Company and
the holders holding a majority of the issued and outstanding shares of Series A Preferred Stock. The shares of Common Stock to
be issued upon conversion will bear a restricted legend.
Ranking
. All series of preferred stock,
whether now or hereafter designated, may by their respective terms have a preference over the Series A Preferred Stock in respect
of distribution upon liquidation, dividends, or any other right or matter.
The foregoing description of the terms pertaining
to the Series A Preferred Stock is not complete and is qualified in its entirety by reference to the full text of the Certificate
of Designation, a copy of which is filed as Exhibit 3.1 to this Current Report on Form 8-K and incorporated by reference herein.
ITEM 7.01 REGULATION FD DISCLOSURE
On August 21, 2020, the Company issued a press
release announcing its entry into the Agreement and the issuance of 3,000,000 shares of its Series A Preferred Stock. A copy of
the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K (the "Current Report").
The information in Exhibit 99.1 shall not
be deemed as "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject
to the liability of such Section, nor shall it be deemed incorporated by reference in any filing by the Company under the Securities
Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, regardless of any general incorporation language
in such filing, unless expressed incorporated by specific reference in such filing.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
Exhibit
    Number
Description
    of Exhibit
3.1
Certificate
    of Designation of the Preferences, Rights, and Limitations of the Series A Preferred Stock (1)
10.1
Share
    Cancellation and Exchange Agreement, dated August 19, 2020, by and between the Company and Kaival Holdings, LLC (1)
99.1
Press
    Release of Kaival Brands Innovations Group, Inc., dated August 21, 2020 (1)
(1) Filed herewith.
2
SIGNATURES
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 thereunto duly authorized.
Kaival Brands Innovations Group, Inc.
Dated: August 21, 2020
By:
/s/ Nirajkumar
    Patel
Nirajkumar Patel
Chief Executive Officer,
Chief Financial Officer, and Director
3