New Issue: Fearless arranges to sell $5.65 million of convertible debentures, shares, warrants

By Devika Patel

Knoxville, Tenn., March 6 - Fearless International, Inc. will take in $5.65 million from a private placement of senior secured convertible debentures, stock and warrants, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The $6.21 million in notes will carry a coupon of 9%, payable quarterly in cash or stock. They will mature in March 2011 and are convertible into common shares at $0.20 per share.

The company also sold 18,626,356 common shares and warrants for 27,197,776 shares exercisable through March 2013 at $0.25 per share.

Global Hunter Securities, LLC is the agent.

Fearless is a Las Vegas-based designer of luxury performance powerboats and yachts.

Issuer:	Fearless International, Inc.
Issue:	Senior secured convertible debentures, common shares, warrants
Amount:	$5.65 million
Warrants:	For 18,626,356 shares
Warrant expiration:	March 2013
Warrant strike price:	$0.25
Agent:	Global Hunter Securities, LLC
Pricing date:	Feb. 29
Stock symbol:	OTCBB: FRLE
Stock price:	C$0.16 at close Feb. 29
Debentures
Amount:	$6,208,785
Maturity:	March 2011
Coupon:	9%, payable quarterly
Yield:	9%
Conversion price:	$0.20
Shares
Shares:	18,626,356

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