TWO RIVERS WATER & FARMING COMPANY (OTCMKTS:TURV) Files An 8-K Entry into a Material Definitive AgreementITEM 1.01 Entry into a Material Definitive Agreement
On May 2, 2017 we borrowed $300,000 to an unsecured original issue discount promissory note issued to a single investor. The note had a principal amount of $330,000, which originally matured on October 26, 2017, and interest on the note consists solely of the $30,000 difference between the amount we received on May 2, 2017 and the amount to be paid on October 26, 2017.
On September 18, 2017 the investor and the Company agreed to an extension of the promissory note until January 1, 2018. In return for the extension, the Company will pay an additional $10,000 in interest and issue 146,000 warrants priced at $1.00 per share.
ITEM 9.01 Financial Statements and Exhibits
(d) Exhibits. The following is a complete list of exhibits filed as part of this Report.
| Exhibit Number | Description |
| 10.1 | Extension Amendment dated September 18, 2017, fully executed on September 21, 2017 |
| 10.2 | Warrant to Purchase Shares of Common Stock of Two Rivers Water & Farming Company issued to Black Mountain Equities Inc. on September 18, 2017, fully executed on September 21, 2017 |
TWO RIVERS WATER & FARMING Co ExhibitEX-10.1 2 ex10-1.htm EXTENSION AMENDMENT Two Rivers Water & Farming Company 8-K EXHIBIT 10.1 NEITHER THIS NOTE NOR THE SECURITIES INTO WHICH THIS NOTE IS PROMISSORY HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE. THESE SECURITIES HAVE BEEN SOLD IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933,…To view the full exhibit click here
About TWO RIVERS WATER & FARMING COMPANY (OTCMKTS:TURV)
Two Rivers Water & Farming Company acquires and develops irrigated farmland and associated water rights and infrastructure. The Company converts irrigated farmland from traditional use to grow marginally profitable feed crops to use for growing fruit and vegetable crops. The Company’s segments include Farms and Water. The Company’s crop production consisted of cabbage, pumpkins and squash grown for human consumption, as well as feed crops, such as alfalfa, corn, oats and sorghum, planted as part of its crop rotation practice. The Company’s business model integrates irrigated farming and water distribution in a manner developed for semi-arid regions in the southwestern United States. The Company’s area of focus is the Arkansas River Basin, on the southern Front Range in Colorado.