Innovus sells $92,000 convertible notes for $50,000 through placement

0% convertible due March 28, 2016 sold to Blackbridge Capital in deal

By Devika Patel

Knoxville, Tenn., Oct. 3 – Innovus Pharmaceuticals, Inc. sold a $92,000 discounted convertible promissory note to Blackbridge Capital, LLC for $50,000 on Sept. 29, according to an 8-K filed Friday with the Securities and Exchange Commission.

The 0% note is due on March 28, 2016 and is convertible into common shares at $0.40 per share, which is identical to the Sept. 26 closing share price.

The pharmaceutical company is based in Sierra Madre, Calif.

Issuer:	Innovus Pharmaceuticals, Inc.
Issue:	Convertible promissory note
Amount:	$92,000
Maturity:	March 28, 2016
Price:	$50,000
Coupon:	0%
Conversion price:	$0.40
Warrants:	No
Investor:	Blackbridge Capital, LLC
Settlement date:	Sept. 29
Stock symbol:	OTCBB: INNV
Stock price:	$0.40 at close Sept. 26
Market capitalization:	$7.67 million

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