PROTEO, INC. (OTCMKTS:PTEO) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
On December 12, 2018, Proteo, Inc., (the “Registrant”) entered into a Common Stock Purchase Agreement (the “Agreement”) with the purchaser of its stock, Jork von Reden (the “Investor”), who is also a member of the Registrant’s board of directors. to the Agreement, the Registrant agreed to issue and sell to the Investor 1,000,000 shares of the Registrant’s Common Stock (the “Purchase Shares”) at the price of $0.08 per share (the “Purchase Price”), for an aggregate purchase price of USD $80,000. The Purchase Price was equal to the closing price of the Registrant’s common stock as quoted on the OTCQB on December 6, 2018. The initial closing of 500,000 of the Purchase Shares will occur upon the Registrant’s receipt of the initial payment of $40,000 of the Purchase Price. A second closing of the remaining 500,000 Purchase Shares will occur on December 27, 2018 (the “Second Closing Date”). The Investor agreed to pay the remaining USD $40,000 Purchase Price with respect to the remaining Purchase Shares on or before the Second Closing Date.
| Item 3.02 | Unregistered Sales of Equity Securities |
On December 12, 2018, the Registrant entered into the Agreement described in Item 1.01 above. to the Agreement, the Registrant will issue to the Investor 1,000,000 shares of Common Stock in a transaction exempt from the registration requirements of the Securities Act of 1933, as amended, by virtue of the exemptions available under Regulation S and the rules promulgated thereunder.
| Item 9.01 | Financial Statements and Exhibits. |
(d)Exhibits. The following materials are filed as exhibits to this Current report on Form 8-K:
PROTEO INC Exhibit
EX-10.1 2 proteo_8k-ex1001.htm COMMON STOCK PURCHASE AGREEMENT Exhibit 10.1 PROTEO,…
To view the full exhibit click here
About PROTEO, INC. (OTCMKTS:PTEO)
Proteo, Inc. is a clinical-stage drug development company. The Company intends to develop, promote and market pharmaceuticals and other biotech products. The Company’s focus is on the development of anti-inflammatory treatments for rare diseases with unmet needs. The Company is engaged in the development of pharmaceuticals based on the body’s own tools and weapons to fight inflammatory diseases. The Company is focusing its research on the development of drugs based on the human protein, Elafin. The Company has obtained Orphan drug designations within the European Union for the use of Elafin for the treatment of pulmonary arterial hypertension and chronic thromboembolic pulmonary hypertension, as well as for the treatment of esophageal cancer. Within the United States, it has obtained Orphan drug designations for the use of Elafin for the treatment of pulmonary arterial hypertension, as well as for the prevention of inflammatory complications of transthoracic esophagectomy.
