Kodiak Capital Group to buy common shares at discount over two years
By Devika Patel
Knoxville, Tenn., Nov. 1 - ChineseInvestors.com, Inc. arranged a $1.5 million two-year financing facility with Kodiak Capital Group, LLC on Nov. 1, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
Kodiak has committed to purchase common shares in $500,000 tranches at a price equal to 85% of the lowest daily volume average share price over a five-trading day period following the put notice.
Kodiak received a $10,000 fee and 50,000 restricted shares as an inducement.
Based in Aurora, Colo., ChineseInvestors.com is a private company that provides real-time market commentary and analysis in the Chinese language.
| Issuer: | ChineseInvestors.com, Inc.
|
| Issue: | Financing facility
|
| Amount: | $1.5 million
|
| Tenor: | Two years
|
| Price: | 15% discount
|
| Warrants: | No
|
| Investor: | Kodiak Capital Group, LLC
|
| Fees: | $10,000
|
| Settlement date: | Nov. 1
|
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