STWC Holdings, Inc. announced that it expects to receive $0.135 million in funding from FirstFire Capital Management LLC
June 17, 2019
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STWC Holdings, Inc. (OTCPK:STWC) announced that it has entered into a securities purchase agreement with an accredited investor, FirstFire Global Opportunities Fund LLC, a fund managed by FirstFire Capital Management LLC on June 18, 2019. The company will issue a senior convertible promissory note for proceeds of $135,000. The note will be issued at an original issue discount of $15,000. The company also issued warrants to purchase 150,000 shares at an exercise price of $1. The note will mature in nine months from June 18, 2019. The note bears an interest rate of 10% per annum. The note is pre-payable at an amount equal to 125% of the principal amount pre-payable through the 90th day, pre-pay at an amount equal to 135% of the principal amount from the 91st day through the 180th day, and after 180th day, no pre-payment right is available. The securities are being issued pursuant to Section 4(a)(2) of the Securities Act, and Rule 506(b) of Regulation D.
STWC Holdings, Inc., formerly Strainwise, Inc., is engaged in providing services to the retail marijuana outlets and marijuana cultivation facilities. The Company is engaged in provide branding marketing, administrative, accounting, financial and compliance services (Fulfillment Services) to medical and retail stores, and cultivation facilities in the regulated cannabis industry throughout the United States.