8K for BMSN On August 26, 2013 Bio-Matrix Scienti
Post# of 5066
On August 26, 2013 Bio-Matrix Scientific Group, Inc (the "Company") entered into an agreement with Caven Investments LLC ("Caven").
Caven currently holds a convertible note in the remaining amount of $140,000 bearing interest at 6% per annum ("Convertible Note") as well as a warrant, exercisable for three years from August 20, 2012, to purchase up to 16,500,000 of the common shares of the Company at an exercise price of $0.01 per share ("BMSN Warrant").
Pursuant to the agreement, the Company shall issue 66,287,898 of its common shares and cause to be issued 1,500,000 common shares of Regen BioPharma, Inc., a wholly owned subsidiary of the Company, in full satisfaction of the Convertible Note (including all interest which may be accrued but unpaid) as well as consideration for the cancellation of the BMSN Warrant held by Caven.
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