MMEX RESOURCES CORPORATION (OTCMKTS:MMEX) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities
Effective April 19, 2017, we issued and delivered to JSJ
Investments, Inc. a 12% convertible note in the principal amount
of $145,000. The note was issued at a discount, resulting in our
receipt of $138,000. We can redeem the note at any time prior to
90 days from the issuance date at a redemption price of 120% plus
accrued interest. The redemption price thereafter increases to
125%, plus accrued interest, until the 120th day from
issuance. The note is due and payable on the 180th day
after issuance at a redemption price of 150% plus accrued
interest. The holder of the note, at its option, may convert the
unpaid principal balance of, and accrued interest on, the note
into shares of our common stock at a 40% discount from the lowest
trading price during the 20 days prior to conversion. Prior to
the 180th day after issuance, the conversion price
cannot be less than a floor of $.03 per share of common stock.
The note also contains penalty provisions in the event of our
default in repayment of the note (if not converted by the holder
into shares of common stock) after 180 days from issuance.
Any issuance of the shares upon conversion of the note will be
exempt from registration to the exemption provided by Section
4(2) of the Securities Act of 1933.
About MMEX RESOURCES CORPORATION (OTCMKTS:MMEX)
MMEX Resources Corporation, formerly MMEX Mining Corporation, is an oil and gas company. The Company is involved in the evaluation, acquisition and development of oil and gas, refining, power generation, natural gas transmission and processing energy projects in the western United States and Latin America. The Company is involved in the natural resource project development and project financing in North and South America, and the United Kingdom. The Company was engaged in the exploration, extraction and distribution of coal. MMEX RESOURCES CORPORATION (OTCMKTS:MMEX) Recent Trading Information
MMEX RESOURCES CORPORATION (OTCMKTS:MMEX) closed its last trading session up +0.0021 at 0.0186 with shares trading hands.