Three-year deal negotiated with Jaxon to sell shares at a 50% discount
By Devika Patel
Knoxville, Tenn., Sept. 25 – Aristocrat Group Corp. arranged a $5 million three-year equity line financing with Jaxon Group Corp. on Sept. 15, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The investor will buy shares at a price equal to 50% of the lowest price of the common stock during the 20 trading days preceding the put notice.
The vodka and vodka-based beverages distiller is based in Miramar Beach, Fla.
| Issuer: | Aristocrat Group Corp.
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| Issue: | Equity line financing
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| Amount: | $5 million
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| Tenor: | Three years
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| Price: | 50% of the lowest price of the common stock during the 20 trading days preceding put notice
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| Warrants: | No
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| Investor: | Jaxon Group Corp.
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| Settlement date: | Sept. 15
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| Stock symbol: | OTCBB: ASCC
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| Stock price: | $0.04 at close Sept. 12
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| Market capitalization: | $1.25 million
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