Verus International Inc (VRUS)

[Lil BD]

DEJA VU - still raising monies through Convertible Debentures at a 39% discount to market. Was this the financing everyone expected? Taken from last nights 8k filing

On October 20, 2017, RealBiz Media Group, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with Power Up Lending Group LTD. for the sale a $68,000 convertible note (the “Note”).

The closing of the transaction took place on October 23, 2017.

The note is due and payable on July 30, 2018. The note will accrue interest at the rate of 8% per annum, unless an Event of Default (as defined in the note) occurs, the note will accrue interest at the rate of 22% per annum.

The note shall be convertible into a number of shares of Company common stock (“Common Stock”) and is convertible beginning on the 180 th day following the date of issuance of the note. The conversion price (the “Conversion Price”) of the note shall be 61% of the Market Price, defined as the average of the lowest two (2) trading prices for the Common Stock during the fifteen (15) trading day period ending on the latest complete trading day prior to the date of conversion. The Conversion Price is subject to adjustments as set forth in the note.

The Company has the right to prepay the note within the 180 day period following the date of issuance of the note at certain prepayment premiums ranging from 115% to 140% of the then outstanding principal and interest on the note