Convertible notes are due on Feb. 28, 2017, convert at $0.15 per share
By Devika Patel
Knoxville, Tenn., March 31 - Diagnostic Imaging International Corp. completed a $300,000 private placement of convertible notes on March 26, according to an 8-K filed Monday with the Securities and Exchange Commission.
The 12% note is due on Feb. 28, 2017. It is convertible into common stock at $0.15 per share, a 200% premium to the March 25 closing share price of $0.05.
The investor also received 300,000 common shares.
The Las Vegas company owns and operates Canadian Teleradiology Services.
| Issuer: | Diagnostic Imaging International Corp.
|
| Issue: | Convertible notes, 300,000 common shares
|
| Amount: | $300,000
|
| Maturity: | Feb. 28, 2017
|
| Coupon: | 12%
|
| Conversion price: | $0.15
|
| Warrants: | No
|
| Pricing date: | March 26
|
| Stock symbol: | OTCBB: DIIG
|
| Stock price: | $0.05 at close March 25
|
| Market capitalization: | $1.17 million
|
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