Kiwa Bio-Tech Products Group Corporation (OTCMKTS:KWBT) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry Into a Material Definitive Agreement
| Item 9.01 Financial Statements and Exhibits. | ||
Item 1.01 Entry into a Material Definitive
Agreement.
On May 9, 2017, Kiwa Bio-Tech Products Group Corporation (Kiwa or
the Company) entered into a Convertible Loan Agreement with
Junwei Zheng wherein the lender agreed to advance of
approximately US$ 4.5 million (RMB 30,000,000) under a
Convertible Promissory Note with a term of 24 months bearing
interest at a rate of Fifteen Percent (15%) per annum. The Loan
is convertible into Common Stock at any time at the option of the
Lender at a conversion price of $3.50 per share.
The proceeds will be used for the further development of Kiwa
products and distribution, as well as for general working
capital.
Item 9.01 Financial Statements and Exhibits.
| (d) | Exhibits |
| 4.1 |
Convertible Loan Agreement dated May 9, 2017 between Kiwa Bio-Tech Products Group Corporation and Junwei Zheng |
About Kiwa Bio-Tech Products Group Corporation (OTCMKTS:KWBT)
Kiwa Bio-Tech Products Group Corporation develops, manufactures, distributes and markets bio-technological products for agriculture. The Company has acquired technologies to produce and market bio-fertilizer. The Company has developed over six bio-fertilizer products with bacillus spp and/or photosynthetic bacteria as its ingredients. The Company’s products contain ingredients of both photosynthesis and bacillus bacteria. The Company’s products include KiwaBiological Organic Fertilizer, Kiwa Yi Mu Ling, Kiwa Di Fu Kang, Kiwa Microbial Specific Fertilizer For Rice, Kiwa Microbial Specific Fertilizer For Corn, Kiwa Microbial Specific Fertilizer For Potato, Kiwa Microbial Specific Fertilizer For Soybean, Kiwa Microbial Specific Fertilizer For Tea Tree, Kiwa Microbial Specific Fertilizer For Tobacco, Kiwa Microbial Specific Fertilizer For Fruit Trees, Kiwa Microbial Specific Fertilizer For Vegetables and Kiwa Full Effect Type Foliar For Golf Turf. Kiwa Bio-Tech Products Group Corporation (OTCMKTS:KWBT) Recent Trading Information
Kiwa Bio-Tech Products Group Corporation (OTCMKTS:KWBT) closed its last trading session down -0.28 at 2.70 with 1,600 shares trading hands.