BEMAX INC. (OTCMKTS:BMXC) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement
BEMAX INC. (OTCMKTS:BMXC) Files An 8-K Entry into a Material Definitive Agreement
Agreements with Kodiak Capital Group, LLC
We have entered into a $2.5 million common stock purchase agreement with Kodiak Capital Group, LLC, a Newport Beach-based institutional investor. We have agreed to file a registration statement with the U.S. Securities & Exchange Commission (“SEC”) covering the shares that may be issued to Kodiak under the terms of the common stock purchase agreement. After the SEC has declared the registration statement related to the transaction effective, the company has the right at its sole discretion over a period of one year to sell up to $2.5 million of common stock under the terms set forth in the agreement. Proceeds from this transaction will be used to fund our inventory and for working capital.
In connection with the entering of the stock purchase agreement, we have paid a commitment fee of 1,100,000 shares in restricted common shares of our company to Kodiak,
Item 9.01 Exhibits
10.1 – Equity Purchase Agreement with Kodiak Capital Group dated November 14, 2016
10.2 – Registration Rights Agreement with Kodiak Capital Group dated November 14, 2016
About BEMAX INC. (OTCMKTS:BMXC)
Bemax Inc. is a development-stage company. The Company is focused on exporting and distribution of disposable baby diapers. It exports disposable baby diapers from the United States and Canada, and distributes them in London, and South Africa. The Company also exports from manufacturers from Asia and distributes to other parts of Africa. The Company offers disposable diapers range in size from Newborn to Size six, which accommodates an over 35 pounds (lbs) child. The normal size weight ranges are approximately 10 pounds: newborn; 8 to 15 pounds: Size 1-2; 16 to 28 pounds: Size 3; 22 to 37 pounds: Size 4; 27 plus pounds: Size 5, and over 35 pounds: Size 6. BEMAX INC. (OTCMKTS:BMXC) Recent Trading Information
BEMAX INC. (OTCMKTS:BMXC) closed its last trading session 00.0000 at 0.0699 with 41,017 shares trading hands.
Bemax Inc. is a development-stage company. The Company is focused on exporting and distribution of disposable baby diapers. It exports disposable baby diapers from the United States and Canada, and distributes them in London, and South Africa. The Company also exports from manufacturers from Asia and distributes to other parts of Africa. The Company offers disposable diapers range in size from Newborn to Size six, which accommodates an over 35 pounds (lbs) child. The normal size weight ranges are approximately 10 pounds: newborn; 8 to 15 pounds: Size 1-2; 16 to 28 pounds: Size 3; 22 to 37 pounds: Size 4; 27 plus pounds: Size 5, and over 35 pounds: Size 6. BEMAX INC. (OTCMKTS:BMXC) Recent Trading Information
BEMAX INC. (OTCMKTS:BMXC) closed its last trading session 00.0000 at 0.0699 with 41,017 shares trading hands.