$GNID $56,000,000, 3 TIER AGREEMENT from Q >> In
Post# of 102855
In the first agreement, the Company engaged and retained Wellington Shields as its financial advisor as it relates to a private placement of up to $1,000,000, terminating at the close of business October 31, 2016. In consideration for the services rendered by Wellington Shields the Company agrees to pay a placement success fee equal to 10% of the gross proceeds and a warrant to purchase common shares of the Company equal to 4% of the amount of the placement at a purchase price equal to 110% of the implied price per share of the placement.
In the second agreement the Company engaged and retained Wellington Shields as a placement agent to Rx Safes, Inc as it relates to acquisition financing of up to $15,000,000, terminating at the close of business December 1, 2016. In consideration for the services rendered by Wellington Shields, the Company agrees to pay placement success fee equal to 8% of the gross proceeds of the placement, common shares equal to 3% of the outstanding shares of Rx Safes, Inc. post closing and a monthly accruing retainer of $10,000 per month, payable at the time of a financing at any amount of $5 million.
In the third agreement the Company engaged and retained Wellington Shields as its Exclusive Investment Banker for a twelve-month term as it relates to a Public Offering of up to $40,000,000 on a national exchange. In consideration for the services rendered by Wellington Shields the Company agrees to pay offering commission equal to 6% of the gross proceeds of the sale of the Company’s shares and offering warrants equal to 3% of the amounts raised at a purchase price equal to 110% of the implied price per share of the sale or 110% of the public market closing price of the Company’s common stock on the date of the sale, whichever is lower.