OSL sells $51,282 10% convertibles for $50,000 in private placement

Convertible promissory note due 2016 was purchased by Redwood Fund III

By Devika Patel

Knoxville, Tenn., Oct. 6 – OSL Holdings, Inc. sold a $51,282 convertible promissory note to Redwood Fund III, Ltd. with an original issue discount of $1,282 on Oct. 2, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The 10% note is due Sept. 30, 2016 and may be converted into common shares at 55% of the lowest traded price of the stock during the 20-day period preceding conversion.

The New York company markets and distributes office products.

Issuer:	OSL Holdings, Inc.
Issue:	Convertible promissory note
Amount:	$51,282
Maturity:	Sept. 30, 2016
Coupon:	10%
Price:	$50,000, for an original issue discount of $1,282
Conversion price:	55% of the lowest traded price of the stock during the 20-day period preceding conversion
Warrants:	No
Investor:	Redwood Fund III, Ltd.
Settlement date:	Oct. 2
Stock symbol:	OTCBB: OSLH
Market capitalization:	$302,960

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