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SVLT > SEC Filings for SVLT > Form 8-K on 12-Jun-2014All Recent SEC Filings

Show all filings for SUNVAULT ENERGY, INC.



Unregistered Sale of Equity Securities

Item 3.02 Unregistered Sales of Equity Securities

Effective April 23, 2014, SunVault Energy Inc. (the "Company") entered into private placement subscription agreements with several investors pursuant to which the Company issued convertible debentures in the aggregate amount of $237,700. The convertible debentures carry interest at the rate of eight percent (8%) calculated annually and paid quarterly and may be converted into shares of the Company's common stock at any time at the conversion price of $0.30 per share. The Company must pay back the principal amount outstanding and accrued and unpaid interest any time before or at the maturity date of April 22, 2016.

The convertible debentures were issued to seven (7) non-US persons (as that term is defined in Regulation S of the Securities Act of 1933), in an offshore transaction relying on Regulation S of the Securities Act of 1933, as amended.

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