Blue Water Global Group, Inc. announced that it has received $0.21 million in funding from Auctus Private Equity Management, Inc., JSJ Investments Inc., and Macallan Partners LLC.
November 18, 2014 at 11:00 pm EST
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Blue Water Global Group, Inc. (OTCBB:BLUU) announced a private placement of convertible promissory note for gross proceeds of $206,500 on November 19, 2014. The round included participation from new investors JSJ Investments, Inc., Auctus Private Equity Management, Inc., and Macallan Partners, LLC. The company will issue the securities pursuant to exemption provided under Regulation D.
JSJ Investments, Inc. invested $95,000 in the transaction. The note has an original issue discount of $5,000 and carries a one-time interest charge of 12% per annum. The note will mature on May 19, 2015. The principal amount of the notes is $100,000 in the transaction. The note is convertible into company's common stock at the lesser of 50% of the lowest trade occurring during the twenty consecutive trading day immediately preceding the applicable conversion date or 50% of the lowest trade occurring during the twenty consecutive trading days immediately preceding the closing date.
Auctus Private Equity Fund, LLC, a fund managed by Auctus Private Equity Management, Inc. invested $56,500 in the transaction. The note bears an interest rate of 8% per annum. The note will mature on August 19, 2015. The note is convertible into company's common stock at a price of $0.001 per share in the transaction. Joseph M. Lucosky of Lucosky Brookman LLP acted as legal advisor to Auctus Private Equity Management, Inc. The company's will reimburse $2,750 plus the cost of wire fees as buyer's expenses in the transaction. The company shall pay $3,500 to Auctus Private Equity Management, Inc. as a fee for services rendered in the transaction.
Macallan Partners, LLC invested $50,000 in the transaction. The note bears an interest rate of 8% per annum. The note will mature on December 1, 2015. The note is convertible into company's common stock at the lesser of 55% of the lowest trade occurring during the twenty consecutive trading day immediately preceding the applicable conversion date or 50% of the bid price on the date of conversion.
On November 19, 2014, Blue Water Global Group, Inc. closed the transaction.
Blue Water Global Group, Inc. (Blue Water) is a developer of casual dining restaurant properties and distilled spirits. The Company is engaged in developing a chain of casual dining restaurants in tourist destinations across the Caribbean region under the Blue Water Bar & Grill brand, and sells a range of rums which include its flagship rum Blue Water Ultra Premium Rum and aged spiced Blue Water Caribbean Gold Premium Rum in St. Maarten, Dutch West Indie and Anguilla, British West Indies. Blue Water Ultra Premium Rum is 40% alcohol/volume (80 proof). Blue Water Caribbean Gold Premium Rum is 35% alcohol/volume (70 proof). Blue Water is also engaged in making equity investments in businesses that are in the early stages of obtaining their own listing on the Over-The-Counter (OTC) Bulletin Board. The Company's restaurants would be within the casual dining category. Blue Water's initial restaurant would be located on the island of St. Maarten, Dutch West Indies.
Blue Water Global Group, Inc. announced that it has received $0.21 million in funding from Auctus Private Equity Management, Inc., JSJ Investments Inc., and Macallan Partners LLC.
BLUE WATER GLOBAL GROUP, INC. 
