Kodiak Capital Group commits to purchase common shares over one year
By Devika Patel
Knoxville, Tenn., Dec. 17 – Zonzia Media, Inc. arranged a $2 million equity purchase agreement with Kodiak Capital Group, LLC on Dec. 11, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The investor has committed to purchase up to $2 million of the company’s common shares until Dec. 31, 2016. The purchase price will be equal to 70% of the lowest closing bid price of the stock on any of the five trading days following the put notice.
The digital broadcast company is based in Henderson, Nev.
| Issuer: | Zonzia Media, Inc.
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| Issue: | Equity purchase agreement
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| Amount: | $2 million
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| Tenor: | Dec. 31, 2016
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| Price: | 70% of the lowest closing bid price of the stock on any of the five trading days following the put notice
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| Warrants: | No
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| Investor: | Kodiak Capital Group, LLC
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| Pricing date: | Dec. 11
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| Stock symbol: | OTCBB: ZONX
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| Stock price: | $0.08 at close Dec. 10
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| Market capitalization: | $11.7 million
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