Zeo ScientifiX, Inc. (ZEOX): debt financing — Organicell secures $504,400 net from $530K convertible note, issues warrants and shares to AJB Capital

Zeo ScientifiX, Inc.

Issued $530,000 promissory note to AJB Capital Investments at 12% interest, maturing Sept 6, 2023.
Net proceeds of $504,400 after OID and legal fees for working capital; note convertible upon event of default.
Issued warrant to purchase up to 10 million shares at $0.06/share for five years.
Paid commitment fee of $300,000 in 15 million shares of common stock.
Reserved 120 million shares for potential conversion and warrant exercise.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Zeo ScientifiX, Inc. incurred loan of $530,000 with AJB Capital Investments, LLC at 12% per annum maturing September 6, 2023.

Instrument: loan
Principal: $530,000
Counterparty: AJB Capital Investments, LLC
Rate: 12% per annum
Maturity: September 6, 2023
Event: incurrence

Exact text from the filing

On March 6, 2023, the Company entered into a Securities Purchase Agreement (the “ SPA ”) with AJB Capital Investments, LLC (the “ Purchaser ”), pursuant to which we sold a Promissory Note in the principal amount of $530,000 (the “ Note ”) to the Purchaser in a private transaction to for a purchase price of $519,400 (giving effect to original issue discount of $10,600).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Zeo ScientifiX, Inc. entered into Securities Purchase Agreement with AJB Capital Investments, LLC valued at $530,000 (effective 2023-03-06).

Action: entry
Agreement: equity purchase
Counterparty: AJB Capital Investments, LLC
Value: $530,000
Effective: 2023-03-06

Exact text from the filing

On March 6, 2023, the Company entered into a Securities Purchase Agreement (the " SPA ") with AJB Capital Investments, LLC (the " Purchaser "), pursuant to which we sold a Promissory Note in the principal amount of $530,000

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Zeo ScientifiX, Inc. filing history →

Source: SEC EDGAR

accession 0001829126-23-001912

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