Zoned Properties, Inc. (OTCMKTS:ZDPY) Files An 8-K Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure.
On April 20, 2017, Zoned Properties, Inc. (the Company) issued a
press release announcing certain business updates, including that
the Company retired $1 million of convertible notes due to mature
in August 2017 with a portion of the proceeds from a $2.02
million private placement transaction and a $2.125 million
property sale which occurred in January 2017 and March 2017,
respectively. Under the terms of a private placement transaction,
in January 2017, the Company issued $2.02 million in five-year
convertible notes paying quarterly interest at the rate of 6.0%
per annum. A portion of the net proceeds of $1.06 million,
excluding transaction costs and other related expenses, was used
to repay the Companys two convertible notes issued in August 2014
for $1 million, in aggregate, and accrued interest of
approximately $96,000. The newly placed 2017 convertible notes
may be converted at the holders option at a conversion price of
$5.00 per share. The 2014 convertible notes, which bore an
interest rate of 7% per annum and provided a conversion feature
to the Companys common stock at $5.00 per share, were scheduled
to mature in August 2017.
A copy of this press release is attached hereto as Exhibit 99.1
and incorporated herein by reference. The information contained
in the website is not a part of this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
The exhibits listed in the following Exhibit Index are furnished
as part of this Current Report on Form 8-K.
| Exhibit No. | Description | |
| 99.1 | Press Release of Zoned Properties, Inc. dated April 20, 2017. |
About Zoned Properties, Inc. (OTCMKTS:ZDPY)
Zoned Properties, Inc. is a commercial property, project development and management services company. The Company is engaged in identifying, developing and managing properties in industries, including the licensed medical marijuana industry. The Company operates in the operating, leasing and managing commercial properties segment. The Company maintains a portfolio of properties that it owns, leases and manages. In addition, it provides direct consultation and support for the development of each property. Its development ranges from architectural design and build-out, utility installation, property management, facilities management and security systems. The Company’s property portfolio includes land and real property constructed in Green Valley, Arizona; land and real property in Kingman, Arizona; vacant land in Gilbert, Arizona; a multi-tenant industrial park in Tempe Arizona, and land and real property of approximately 50 acres in Chino Valley, Arizona. Zoned Properties, Inc. (OTCMKTS:ZDPY) Recent Trading Information
Zoned Properties, Inc. (OTCMKTS:ZDPY) closed its last trading session down -0.03 at 1.20 with 10,092 shares trading hands.
