GEM Global Yield to buy company shares through sale agreement
By Devika Patel
Knoxville, Tenn., Aug. 29 - VRDT Corp. (Verdant) arranged a $30 million common stock subscription facility with GEM Global Yield Fund on Aug. 9, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
"This agreement gives Verdant the stability it needs to bring innovative energy technology solutions to the market," Verdant's executive chairman Graham Norton-Standen said in a press release.
"[With] the signing of this agreement, the Verdant vision of bringing together the best energy technologies to affect real change takes another step forward. We have a great financing partner in GEM and look forward to building real value with them in the energy space."
VRDT is a land development company in Rancho Cucamonga, Calif.
| Issuer: | VRDT Corp.
|
| Issue: | Common stock subscription facility
|
| Amount: | $30 million
|
| Warrants: | No
|
| Investor: | GEM Global Yield Fund
|
| Settlement date: | Aug. 9
|
| Stock symbol: | OTCBB: MAXD
|
| Stock price: | $0.60 at close Aug. 8
|
| Market capitalization: | $74.84 million
|
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