Investor also swaps $205,000 note for $215,250 convertible debenture
By Devika Patel
Knoxville, Tenn., June 30 – Anpath Group, Inc. said it sold a $220,500 original issue discount senior secured convertible debenture to a single investor for $210,000. In addition, the investor will receive a second $215,250 original issue discount senior secured convertible debenture in exchange for a $205,000 original issue discount senior secured promissory note previously issued.
The debentures are due March 31, 2015 and will convert to common shares at $0.15 per share.
In conjunction with the debenture the investor received warrants for 2,905,000 common shares. Each warrant is exercisable at $0.35.
The conversion price and warrant strike price are a 48.28% discount and 20.69% premium to the June 27 closing share price of $0.29.
Based in Mooresville, N.C., Anpath produces cleaning and disinfecting products.
| Issuer: | Anpath Group, Inc.
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| Issue: | Original issue discount senior secured convertible debentures
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| Amount: | $220,500
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| Maturity: | March 31, 2015
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| Price: | $210,000
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| Conversion price: | $0.15
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| Warrants: | For 2,905,000 shares
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| Warrant strike price: | $0.35
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| Settlement date: | June 30
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| Stock symbol: | OTCBB: APGR
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| Stock price: | $0.29 at close June 27
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| Market capitalization: | $3.35 million
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