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): June 18, 2021

SELECTIS HEALTH, INC. f/k/a Global Healthcare REIT, Inc.

(Exact Name of Registrant as Specified in its Charter)

8480 E. Orchard Road, Suite 4900, Greenwood Village, CO. 80111

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (720) 680-0808

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

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 [X]

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. [  ]

ITEM 1.01 ENTRY INTO A MATERIAL AGREEMENT

ITEM 1.02 TERMINATION OF MATERIAL AGREEMENTS

Warrenton and Sparta

Selectis Health, Inc, f/k/a Global Healthcare REIT, Inc., (the “Company”) was a party to two operating leases covering its skilled nursing homes located in Warrenton, Georgia and Sparta, Georgia:

The Company’s wholly owned subsidiary ALT/WARR, LLC was the landlord under a lease dated as of August 18, 2015, between ATL/WARR, LLC , and C.R.M. of Warrenton, LLC d/b/a C.R.M. Warrenton Health & Rehab, LLC (“Tenant”) governing the skilled-nursing facility located at 813 Atlanta Highway, Warrenton, Georgia, as amended; and

The Company’s wholly-owned subsidiary Providence HR, LLC was the landlord under a lease dated as of dated as of August 18, 2015, between Providence HR, LLC, and C.R.M. of Sparta, LLC d/b/a C.R.M. Providence Health & Rehab, LLC (“Tenant”) governing the skilled-nursing facility located at 60 Providence Street, Sparta, Georgia, as amended.

Both Tenant entities are affiliates of the same individual professional operator.

Effective January 27, 2021, the Company served a Notice of Termination under both of the foregoing leases. The Notice of Termination was based upon numerous Events of Default under both leases, including the Tenant’s failure to pay required taxes, which have been accruing. The Company previously reported these events in its Current Report on Form 8-K dated January 27, 2021.

In responses to the Company’s actions, both C.R.M Warrenton and C.R.M. Sparta filed voluntary petitions in bankruptcy seeking Chapter 11 protection in the US Bankruptcy Court for the Middle District of Georgia, Case Nos. 21-50200 and 21-50201. Effective June 11, 2021, C.R.M Warrenton and C.R.M. Sparta voluntarily entered into a Lease Termination Agreement, and Operations Transfer Agreement and Interim Management Agreement with affiliated subsidiaries of the Company: Selectis Warrenton, LLC and Selectis Sparta, LLC, which companies were formed for the purpose of assuming operational control of the two skilled nursing facilities. On June 18, the Bankruptcy Court approved all three agreements.

As a result of the foregoing, the Company will execute operating leases with the new subsidiaries and assume operational control of both skilled nursing facilities.

Goodwill Hunting

In May 2021, the Company completed the purchase of a 15% minority interest in its subsidiary Goodwill Hunting, LLC. As a result of the purchase, the Company now owns 100% of the outstanding interest in Goodwill Hunting, LLC.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.