HDS International Announces Debt Settlement Agreement And Additional Funding
PROVIDENCE, R.I., Nov. 27, 2012 /PRNewswire/ -- HDS International Corp. (OTCQB: HDSI), a renewable energy, waste management and eco-sustainability company, today announced that it has completed a private placement financing and has entered into a separate debt restructuring agreement.
On November 20, the Company completed a direct private placement financing with certain investors at a price of $0.0035 per share in exchange for gross proceeds of $35,000, to be used for working capital purposes. On November 26, the Company entered into a separate restructuring agreement with certain of its convertible promissory note investors, whereby the investors agreed to convert $60,000 of outstanding debt into restricted shares of the Company's common stock at a conversion price of $0.0035.
Together, today's announcement signals immediately available funding to the Company and serves to reduce the Company's long-term debt.
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