New Issue: IceWEB sells $1.17 million 18% convertible debenture

By Devika Patel

Knoxville, Tenn., Dec. 1 - IceWEB, Inc. said it settled a $1.17 million private placement of a convertible debenture with Sand Hill Finance, LLC.

The 18% debenture is convertible into common shares at $0.30 per share.

Based in Herndon, Va., Iceweb creates and hosts online training programs.

Issuer:	IceWEB, Inc.
Issue:	Convertible debenture
Amount:	$1,170,767
Coupon:	18%
Price:	Par
Yield:	18%
Conversion price:	$0.30
Warrants:	No
Investor:	Sand Hill Finance, LLC
Settlement date:	Dec. 1
Stock symbol:	OTCBB: IWEB
Stock price:	$0.12 at close Nov. 28

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