Il2m raises $515,600, C$231,000 in placement of convertibles, notes

Company sells 5% notes, 0% convertible promissory notes in offering

By Devika Patel

Knoxville, Tenn., April 7 - Il2m International Corp. raised $515,600 in a private placement of convertible promissory notes and C$231,000 in a private placement of promissory notes on March 27, according to an 8-K filed Monday with the Securities and Exchange Commission.

The 0% convertible is payable on demand and is convertible into common stock at the lower of $0.10 or 50% of the average trading price of the stock for the five days preceding the conversion.

The 5% promissory note matures on July 1, 2014.

Proceeds will be used for working capital purposes.

The dietary supplement manufacturer is bases in Burbank, Calif.

Issuer:	Il2m International Corp.
Issue:	Convertible promissory note, promissory note
Amount:	$515,600, C$231,000
Warrants:	No
Settlement date:	March 27
Stock symbol:	OTCBB: ILIM
Stock price:	$0.37 at close March 26
Market capitalization:	$76.56 million
Convertible
Amount:	$515,600
Maturity:	On demand
Coupon:	0%
Conversion price:	The lower of $0.10 or 50% of the average trading price of the stock for the five days preceding the conversion
Promissory note
Amount:	C$231,000
Maturity:	July 1, 2014
Coupon:	5%

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