US Highland, Inc. announced that it expects to receive $0.568054 million in funding from L2 Capital, LLC
May 20, 2018
Share
US Highland, Inc. (OTCPK:UHLN) entered into a securities purchase agreement of convertible promissory note for an aggregate principal amount of up to $568,054 on May 21, 2018. The transaction will include participation from L2 Capital, LLC. The notes will be convertible into common shares subject to the terms, conditions and limitations set forth in the note. The note accrues interest at a rate of 8% per annum. The aggregate principal amount of up to $568,054 consists of a prorated original issuance discount of up to $55,554 and a $12,500 credit to holder for transactional expenses with net consideration to the company of up to $500,000 which will be funded in tranches. At the closing of the first tranche, the outstanding principal amount under this note shall be $68,055.40, consisting of the first tranche plus the prorated portion of the outstanding interest amount and a $12,500.00 credit for the holder’s transactional expenses. The holder may pay such additional amounts of the consideration and at such dates as the holder and borrower mutually agree upon. The maturity date of each tranche funded shall be six months from the effective date of each payment and is the date upon which the principal sum, as well as any accrued and unpaid interest and other fees for each tranche, shall be due and payable. In connection with the issuance of the note and funding of the initial tranche of $50,000 on the note, the company also issued a common stock purchase warrant to the holder to purchase up to 7,638,092 shares of the company’s common stock pursuant to the terms therein as a commitment fee.
Bowmo, Inc. is an artificial intelligence (AI)-powered recruiting platform. The Companyâs principal lines of business are direct placement of candidates with employers and recruiting as a service. It offers recruiting software and services through an online AI-driven platform to connect potential candidates to employers for all businesses looking. It provides an intelligent software solution for the staffing and recruiting industry that integrates into existing ATS, applicant tracking systems. It helps to revive the recruiterâs human touch and evolve the candidate sourcing process. The Companyâs bowmo V-RPO is a combination of proprietary AI-based technology for a do-it-yourself sourcing experience, matching candidates to jobs from 200 million potential candidates without having to use keyword searches or Boolean strings. The bowmo V-RPO automates the process with its AI-based matching engine and then provides tools, such as video interviewing and cultural and technical assessments.