Deal includes 7,117,767 common shares; note will mature Oct. 29, 2016
By Devika Patel
Knoxville, Tenn., Feb. 3 – Nutrastar International Inc. settles a $1.1 million loan that is evidenced by promissory notes on Jan. 29, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The 12% note is due Oct. 29, 2016.
The lenders also received 7,117,767 common shares.
Accretive Capital Partners, LLC invested $650,000 and Richard Fearon invested $50,000.
The Harbin, China, nutraceutical company produces and distributes Chinese Golden Grass and organic and specialty food products in China.
| Issuer: | Nutrastar International Inc.
|
| Issue: | Loan evidenced by promissory notes, 7,117,767 common shares
|
| Amount: | $1.1 million
|
| Maturity: | Oct. 29, 2016
|
| Coupon: | 12%
|
| Warrants: | No
|
| Investor: | Accretive Capital Partners, LLC (for $650,000) and Richard Fearon (for $50,000)
|
| Settlement date: | Jan. 29
|
| Stock symbol: | OTCBB: NUIN
|
| Stock price: | $0.50 at close Jan. 28
|
| Market capitalization: | $8.69 million
|
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