FuelStream, Inc. announced that it has received $0.26 million in funding.
January 21, 2014 at 11:00 pm EST
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FuelStream, Inc. (OTCPK:FLST) announced a private placement of an 8% convertible promissory note with an accredited investor for gross proceeds of $262,500 on January 22, 2014. The note will mature on July 20, 2014. The note is convertible into shares of the common shares at a 40% discount to the volume-weighted average of the three lowest trading days for the 10-day period prior to conversion. The note and any shares receivable from the conversion thereof are considered restricted securities in as much as they have been issued pursuant to an exemption from registration with the Securities and Exchange Commission. The face value of the note will be reduced by $87,500 to $175,000, if a registration statement in respect of the note becomes effective within 120 days.
On January 22, 2014, FuelStream, Inc. closed the transaction.
Fuelstream, Inc. is an in-wing and on-location supplier and distributor of aviation fuel to corporate, commercial, military and privately owned aircraft throughout the world. The Company offers Aviation Fuel and Support Services. It also provides a range of ground services either directly or through its affiliates, including concierge services, passenger and baggage handling, landing rights, coordination with local aviation authorities, aircraft maintenance services, catering, cabin cleaning, customs approvals and third-party invoice reconciliation. The Fuel Stream transportation division specializes in the design, development and execution of fuel supply chain solutions. It offers engineered transportation solutions. From ocean going barges, tanker fleet operations and tank farms, it has access to equipment and provides solutions. It offers fuel management and logistic service for airlines originating out of South Africa and sub-African continent, and other global locations.
FUELSTREAM, INC. 