Offer sells 100 million common shares to Future Energy over one year
By Devika Patel
Knoxville, Tenn., March 6 - MultiCorp International, Inc. said it arranged a $50 million strategic equity investment from Future Energy, LLC.
The company will sell 100 million common shares over the next year. MultiCorp will receive an initial investment of $10 million within 30 days in exchange for 50 million shares. Future Energy will then invest another $15 million within 90 days and the last $25 million within one year in exchange for the remaining 50 million shares.
"This investment will now allow the company to completely build out the entire Dawson Creek property, allow us to secure additional land for future developments and secure future projects the company has been bidding on the last six months in Europe, Africa and Asia, as well as target several opportunities to expand the company here in the U.S.," chief executive officer Paul D. Lisenby said in a press release. "With the assistance of Future Energy, LLC, the ability to implement green energy solutions to our housing and development projects will certainly bring worldwide attention to what we hope to achieve in the development sector of the company."
The Sun Valley, Calif., company owns subsidiaries in the property development, construction, medical, hospitality, agribusiness, commodities such as oil and gas and entertainment industries.
| Issuer: | MultiCorp International, Inc.
|
| Issue: | Common stock
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| Amount: | $50 million
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| Shares: | 100 million
|
| Warrants: | No
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| Investor: | Future Energy, LLC
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| Pricing date: | March 6
|
| Stock symbol: | OTCBB: MCIC
|
| Stock price: | $0.01 at close March 5
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