Greenfield Farms Food settles $83,500 placement of 8% convertible note

Convertible promissory note, due on Dec. 15, 2012, purchased by Asher

By Devika Patel

Knoxville, Tenn., June 27 - Greenfield Farms Food, Inc. sold an $83,500 convertible promissory note to Asher Enterprises, Inc. on June 22, according to an 8-K filed Wednesday with the Securities and Exchange Commission.

The 8% note is due Dec. 15, 2012 and may be converted into common shares at 35% of the lowest trading price of the stock during the 60 trading days ending on the last complete trading day prior to the conversion date.

The producer of grass-fed beef is based in Silver Springs, Nev.

Issuer:	Greenfield Farms Food, Inc.
Issue:	Convertible promissory note
Amount:	$83,500
Maturity:	Dec. 15, 2012
Coupon:	8%
Conversion price:	35% of the lowest trading price of the stock during the 60 trading days ending on the last complete trading day prior to the conversion date
Warrants:	No
Investor:	Asher Enterprises, Inc.
Announcement date:	June 27
Settlement date:	June 22
Stock symbol:	OTCBB: GRAS
Stock price:	$0.01 at close June 26
Market capitalization:	$1.65 million

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