BOQI International Medical Says Entered Into Material Definitive Agreement With Labrys Fund To Sell Convertible Notes

BIMI from 8K Item 1.01. Entry into a Material Definitive Agreement. On December 13, 2019, the Registrant entered into an agreement with Labrys Fund, LP to sell a convertible note (the “Labrys Note”) of the

Benzinga · 12/20/2019 18:24

BIMI from 8K Item 1.01. Entry into a Material Definitive Agreement. On December 13, 2019, the Registrant entered into an agreement with Labrys Fund, LP to sell a convertible note (the “Labrys Note”) of the Company, in the form attachedherewith, in the aggregate principal amount of $254,000.00. The Labrys Note has a maturity date of December 13, 2020 and carries 6% annual interest. The conversion price under the Labrys Note is 65% multiplied by the market price of the Registrant’s Common Stock representing a discount rate of 35%. The reservednumber of shares exercisable upon conversion of the Labrys Note will be initially 625,000 shares, provided that the holder of the Labrys Note may not become more than a4.99% holder of the outstanding shares of Common Stock of the Registrant, all as defined, qualified and more fully described in the agreement and in the Labrys Note filedherewith, and subject to regulatory approvals. On December 16, 2019, the Registrant entered into an agreement with Crown Bridge Partners LLC to sell a convertible note (the “Crown Bridge Note”) of the Company, in theform attached herewith, in the aggregate principal amount of $50,750.00. The Crown Bridge Note has a maturity date of December 16, 2020 and carries 6% annual interest