By LLuvia Mares
New York, Aug. 29 - MaxLife Fund Corp. announced Wednesday a $2.5 million financing agreement.
The company will receive $500,000 from Brookdale Consulting Ltd. and will have the option to draw on the $2 million balance within the next six months.
The terms of the financing will be based on restricted shares and closing prices of each advance will be at a premium to the market.
The company will use to the proceeds to purchase life settlement policies.
New Jersey-based MaxLife Fund is a fund operating in the health and life settlement sector.
Issuer: MaxLife Fund Corp.
Issue: Funding agreement
Amount: $2,500,000
Price: Not announced
Warrants: No
Investor: Brookdale Consulting Ltd.
Announcement date: Aug. 29
| Stock symbol: | OTCBB: MXFD
|
| Stock price: | $2.80 at closing Aug. 28
|
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