GLOBAL EQUITY INTERNATIONAL, INC. (OTCMKTS:GEQU) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into Material Definitive Agreements.
On January 11, 2018, Global Equity International, Inc. (“Company”) entered into a Funding Agreement with Xantis S.A. a company incorporated under the laws of Luxembourg that is the legally appointed fund management company of Xantis Private Equity (“Lender”), a sub-fund of Xantis Investments Securitisation Fund (“Lender”), to which the Lender, through its management company, agreed to loan the Company a minimum of £2,000,000 (approximately US$2.7 million). The loan will be funded in one or more tranches commencing within the month of January 2018. The proceeds of each tranche of funding shall be utilized for reduction of indebtedness, inorganic growth via acquisitions of various advisory firms with funds under management and general working capital purposes.
Each tranche of the loan will be evidenced by a Convertible Note, bearing interest at 6% per annum. Interest on the Convertible Notes is payable semi-annually. The first semi-annual interest payment shall be made in cash or, at the option of the Lender, in shares of our Common Stock at the conversion price indicated in the Convertible Notes. The Convertible Notes will mature on the 366th day following issuance (“Maturity Date”). The principal and any accrued, but unpaid, interest outstanding on the Maturity Date shall be mandatorily converted into shares of our Common Stock.
The conversion price under the Convertible Notes shall be equal to the greater of US$0.02 or the average closing price of Borrower’s Common Stock on the Over-the-Counter Bulletin Board for the prior 60 trading days (subject to equitable adjustments for stock splits and similar events). A “trading day” shall mean any day on which the Common Stock is tradable for any period on the stock exchange on which the Borrower’s Common Stock is traded or quoted.
Subsequently, on January 12, 2018, Xantis Private Equity, through its appointed Trustees, confirmed that, today, they will initiate a £300,000 (approximately US$400,000) wire transfer to the Company.
On January 11, 2018, Global Equity International, Inc. (“Company”) agreed to revise the funding agreement signed on November 20, 2017 with William Marshal Plc. The terms of the new revised agreement, that supersedes the old agreement, are as follows:
The Lender, William Marshal Plc. agreed to loan the Company up to £2,000,000 (approximately US$2.7 million). The previous, November 20, 2017, agreement stated a minimum of £2,000,000.
The loan will be funded in one or more tranches at the lenders discretion. The proceeds of each tranche of funding shall be utilized for reduction of indebtedness, inorganic growth via acquisitions of various advisory firms with funds under management and general working capital purposes.
Each tranche of the loan will be evidenced by a Convertible Note, bearing interest at 6% per annum. Interest on the Convertible Notes is payable semi-annually. The first semi-annual interest payment shall be made in cash or, at the option of the Lender, in shares of our Common Stock at the conversion price indicated in the Convertible Notes. The Convertible Notes will mature on the 366th day following issuance (“Maturity Date”). The principal and any accrued, but unpaid, interest outstanding on the Maturity Date shall be mandatorily converted into shares of our Common Stock.
The conversion price under the Convertible Notes shall be equal to the greater of US$0.02 or the average closing price of Borrower’s Common Stock on the Over-the-Counter Bulletin Board for the prior 60 trading days (subject to equitable adjustments for stock splits and similar events). A “trading day” shall mean any day on which the Common Stock is tradable for any period on the stock exchange on which the Borrower’s Common Stock is traded or quoted.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits – See “Exhibit Index” set forth below.
to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: January 12, 2018
| GLOBAL EQUITY INTERNATIONAL, INC. | |
| By: | /s/ Enzo Taddei |
| Enzo Taddei | |
| Chief Financial Officer |
EXHIBIT INDEX
List of Exhibits attached or incorporated by reference GLOBAL EQUITY INTERNATIONAL INC ExhibitEX-10.1 2 ex10-1.htm Exhibit 10.1 Funding Agreement – Xantis S.A. and Global Equity International Inc. This FUNDING AGREEMENT (“Agreement”),…To view the full exhibit click here
About GLOBAL EQUITY INTERNATIONAL, INC. (OTCMKTS:GEQU)
Global Equity International, Inc. through Global Equity Partners Plc (GEP) and its subsidiary GE Professionals DMCC, provides consulting services, such as corporate restructuring, advice on management buy outs, management recruitment and development for corporate marketing, investor and public relations, regulatory compliance and introductions to financiers, to companies desiring to be listed on stock exchanges in various parts of the world. The Company’s operations are limited to insuring compliance with regional, state and national securities regulatory agencies and organizations. The Company advices and assists its clients in determining the corporate structure, which is suitable to their business models. The Company recommends management changes as per necessity. The Company also offers corporate governance models customized to specific organizations and desired exchange listings. The Company reviews and analyzes balance sheets and capital structures.
