Venture Market News for December 6, 2018
- Gopher Closes Financing Providing Up to $7,500,000 in Funding
Santa Monica, CA, Dec. 06, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Gopher Protocol Inc. (OTCQB: GOPH) (“Gopher” or the “Company”), a company specializing in the creation of Internet of Things (IoT) and Artificial Intelligence enabled mobile technologies, including a global platform with both mobile and fixed solutions, announced today that it entered into a financing with an unaffiliated third-party institutional investor (the “Investor”), pursuant to which Gopher (i) issued to the Investor a Senior Secured Redeemable Convertible Debenture (the “Debenture”) in the aggregate face value of $8,340,000 and (ii) granted to the Investor a three-year Common Stock Purchase Warrant for the purchase of up to 22,500,000 shares of the Company’s common stock, in consideration of $7,500,000, of which Gopher received $4,500,000 as of the closing and is to receive three additional tranches of $1,000,000 on the first, second, and third monthly anniversaries of the closing.
- MusclePharm Enters Into Equity Exchange Agreement With American Media Valuing Company at $105 Million
Equity to be Exchanged in Return for Media and Advertising Services Worth $3 million
BURBANK, CA / ACCESSWIRE / December 6, 2018 / MusclePharm® Corporation (OTCQB: MSLP) (”MusclePharm” or the ”Company”), a scientifically driven, performance-lifestyle sports nutrition company, is pleased to announce today that it has entered into an Agreement for Equity in Exchange for Services (the “Agreement”) with American Media, LLC (the “Investor”).
- GrowLife, Inc. Announces Preliminary Results of Rights Offering, Enabling Company Market Share Expansion Through Product Innovation
KIRKLAND, Wash., Dec. 06, 2018 (GLOBE NEWSWIRE) — GrowLife, Inc. (OTCQB: PHOT), one of the nation’s most recognized indoor cultivation product and service providers, is pleased to announce that it closed, effective November 30, 2018, its previously announced rights offering equity financing (the “Offering”) resulting in approximately $2,500,000 in gross proceeds to the company. The Offering was designed to give record shareholders the opportunity to invest directly in the company at a set price, with additional warrants to support the company’s capital raise (which will be used for its continued expansion in the burgeoning cannabis industry).
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