Notis plans $1.5 million private placement of convertible debentures

Sale settles in six tranches until August; debt accrues 10% interest

By Devika Patel

Knoxville, Tenn., July 14 – Notis Global, Inc. arranged a $1.5 million private placement of 10% convertible debentures with a single investor on June 22, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal raised $125,000 on June 30 and $125,000 on July 1.

The debenture is convertible into common shares at the lesser of $0.75 or a 40% discount to the lowest traded price of the stock during the 30 trading days preceding conversion.

Further settlement was planned in tranches, with $125,000 expected to close on July 6 although only $110,000 has so far been funded, $125,000 expected to close on July 8 although only $50,000 has so far been funded, $500,000 expected to close on July 29 and $500,000 expected to close on Aug. 31.

The marijuana dispensary is based in Los Angeles.

Issuer:	Notis Global, Inc.
Issue:	Convertible debentures, plus an additional $100,000 convertible debenture for equity agreement
Amount:	$1.5 million
Coupon:	10%
Conversion price:	The lesser of $0.75 or a 40% discount to the lowest traded price of the stock during the 30 trading days preceding conversion
Warrants:	No
Announcement date:	June 28
Settlement date:	June 30 (for $125,000), July 1 (for $125,000), July 6 (for $125,000), July 8 (for $125,000), July 29 (for $500,000), Aug. 31 (for $500,000)
Stock symbol:	OTCBB: NGBL
Market capitalization:	$30,520

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