Effective 20 August, Stevia Nutra Corp entered into a financing agreement with Fairhills Capital Offshore, a division of Fairhills Group headquartered in White Plains, New York (US), whereby Fairhills will provide for a non-brokered financing arrangement of up to $3,000,000.
The financing allows, but does not require, the company to issue and sell up to the number of shares of common stock having an aggregate purchase price of $3,000,000 to Fairhills subject to an effective registration statement having been filed for the stock.
In connection with the financing agreement, the company also entered into a securities purchase agreement with Fairhills. Pursuant to the agreement, Fairhills has agreed to purchase 312,500 shares of our common stock at $0.24 per share for total proceeds of $75,000.
Source: Stevia Nutra Corp
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