Two-year 10% promissory note was purchased by Anton Group Hill in deal
By Devika Patel
Knoxville, Tenn., Oct. 30 - Amazonica Corp. sold a $300,000 unsecured convertible promissory note to Anton Group Hill Ltd. on Oct. 24, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The 10% note is due in two years. The note converts to common stock at a conversion price equal to 75% of the lowest bid during the five trading days preceding the conversion date.
The Osaco, Brazil, company makes and distributes hardwood flooring and other construction materials.
| Issuer: | Amazonica Corp.
|
| Issue: | Unsecured convertible promissory note
|
| Amount: | $300,000
|
| Maturity: | Two years
|
| Coupon: | 10%
|
| Conversion price: | 75% of the lowest bid during the five trading days preceding the conversion date
|
| Warrants: | No
|
| Investor: | Anton Group Hill Ltd.
|
| Settlement date: | Oct. 24
|
| Stock symbol: | OTCBB: AMZZ
|
| Stock price: | $0.70 at close Oct. 23
|
| Market capitalization: | $406.56 million
|
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