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Replies to post #107545 on Argentum 47 Inc (ARGQ)
ITEM 1.01 ENTRY INTO MATERIAL DEFINITIVE AGREEMENTS.
On December 3, 2020, ARGENTUM 47, Inc. (hereafter referred to as the “Company”) entered into an Investment and Funding Agreement with YOUR SICAV-SIF, a company incorporated under the laws of Luxembourg, currently having its registered office located at 106 Route D`Arlon, L-8210 Mamer, Luxembourg, acting solely in relation to the Sub-Fund YOUR SICAV-SIF – FORTUNA GLOBAL GROWTH (hereafter referred to as the “Investor”), pursuant to which the Investor, through its management company, agreed to commit and invest into the Company a maximum of $5,000,000 (Five Million U.S. Dollars) in various tranches with a minimum total investment commitment of $3,000,000 (Three Million U.S. Dollars).
It was agreed that the proceeds of each tranche of investment would be utilized for inorganic growth via the acquisition of one or various Independent Financial Advisory firms with funds under management, legal and audit fees plus any other acquisition related fees and finally, general working capital purposes.
The Parties contractually agreed each tranche of investment received by the Company (“Tranche”) would be evidenced by a “Convertible Note” in the amount of such Tranche, bearing a coupon at the rate of 8% (Eight per cent) per annum, that will accrue semi-annually. It was also agreed that each “Convertible Note” would become due and payable (convertible) on the 547th calendar day (18 months and 1 day) following receipt of each Tranche (“Maturity Date”).
The Parties agree that the Fund will be offered the option to enter into a new investment agreement for a further $5,000,000 (Five Million U.S. Dollars) once the entire $5,000,000 (Five Million U.S. Dollars) related to this current Agreement has been fully disbursed by the Investor to the Company.
