INDIA GLOBALIZATION CAPITAL, INC. (NYSEMKT:IGC) Files An 8-K Material Modification to Rights of Security Holders
Item 3.03.
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Material Modification to Rights of Security Holders
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Company) issued a press release announcing that it has extended
the expiration date of the outstanding 11,656,668 warrants to
purchase common stock of the Company trading on the OTC Markets
with ticker symbol IGC.IW and CUSIP number (45408X118) from 5:00
p.m. New York time on March 6, 2017 to 5:00 p.m. New York time on
Wednesday, March 6, 2019. The warrants have an exercise price of
$5.00 for 1/10 of a share. As was the case prior to the
extension, the warrants are subject to earlier expiration if the
Company exercises its right to call the warrants for redemption.
The remainder of the terms of the warrants remain unchanged.
99.1 and is incorporated by reference into this Item 3.03 in its
entirety.
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Item 5.02.
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
appointed Mr. John Cherin to the position of CFO, Treasurer, and
Principal Accounting Officer (PAO) replacing Mr. John Clarke in
his interim roles.
Board approved an inducement grant to Mr. Cherin of 150,000
restricted shares of IGCs common stock valued at approximately
$51,000, subject to vesting and approval by the NYSE MKT. The
grant was made as an inducement that was a material component of
the new CFO’s compensation and subsequent acceptance of
employment with the Company and was granted as an employment
inducement award to exemption (a) under Section 711 of the NYSE
Company Guide and approved by the Company’s Compensation
Committee.
99.1 and is incorporated by reference into this Item 5.02 in its
entirety.
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Item 9.01.
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Financial Statements and Exhibits
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part of this current report.
February 17, 2017.
About INDIA GLOBALIZATION CAPITAL, INC. (NYSEMKT:IGC)
India Globalization Capital, Inc. develops intellectual property for the treatment of life altering or life threatening conditions, through its research on phytocannabinoid-based therapies, in the United States. The Company builds farming facilities for leasing. In India and China, the Company leases equipment, trade commodities and electronic components, and in Malaysia, it focuses to develop, manage and sell residential and commercial real estate. In Hong Kong, through a subsidiary, the Company operates a trading business. The Company is developing a product portfolio of phytocannabinoid-based therapies for the treatment of a range of therapeutic indications, including treatment of neuropathic and cancer pain, epilepsy, end of life supportive care and debilitating pain management, and adjunctive supportive therapies of chronic neurological and oncological diagnoses. The Company is also developing veterinarian therapies, including the treatment of epilepsy in dogs and cats. INDIA GLOBALIZATION CAPITAL, INC. (NYSEMKT:IGC) Recent Trading Information
INDIA GLOBALIZATION CAPITAL, INC. (NYSEMKT:IGC) closed its last trading session 00.000 at 0.260 with 98,701 shares trading hands.
