Series C preferreds, warrants sold to Oaxaca, John Joseph Gonzalez II
By Devika Patel
Knoxville, Tenn., Sept. 30 – Janel World Trade Ltd. settled a $250,000 private placement of series C cumulative preferred stock with Oaxaca Group LLC and John Joseph Gonzalez II on Sept. 24, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 25,000 preferreds at $10.00 apiece.
The investors also received warrants for 12.5 million common shares.
Proceeds will be used for working capital and general corporate purposes.
The Jamaica, N.Y., company provides logistics services for importers and exporters.
| Issuer: | Janel World Trade Ltd.
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| Issue: | Series C cumulative preferred stock
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| Amount: | $250,000
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| Preferreds: | 25,000
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| Price: | $10.00
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| Warrants: | For 12.5 million shares
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| Investors: | Oaxaca Group LLC and John Joseph Gonzalez II
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| Settlement date: | Sept. 24
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| Stock symbol: | OTCBB: JLWT
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| Stock price: | $0.06 at close Sept. 23
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| Market capitalization: | $1.53 million
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