Hometown International, Inc Receives Loan of $175,000 from Peter Coker, Jr
January 07, 2020 at 05:30 pm EST
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Hometown International, Inc. received a loan of $175,000 from Peter Coker, Jr. To evidence the Loan, the Company issued to Mr. Coker a Promissory Note in the principal amount of $175,000. The principal amount of the Promissory Note, plus accrued and unpaid interest at 8% per annum, is due and payable on June 30, 2020. The Company may prepay any amounts due under the Promissory Note without penalty or premium. The proceeds from the Loan will be used to repay certain debts and other obligations of the Company and for working capital and general corporate purposes. The foregoing summary of the Promissory Note does not purport to be complete and is qualified in its entirety by reference to the Promissory Note.
Makamer Holdings, Inc. is a bioplastic technologies company. The Company specializes in the development of hemp-based polymers that are fully composable within four months and leave no trace toxins or microplastics behind. The Companyâs proprietary hemp-based resin was developed in order to provide alternatives to non-compostable food packaging materials on the market. Its resin can be utilized to produce a range of products that would replace polyethylene plastic bags, polypropylene cups, recycled polyethylene terephthalate (rPET) water bottles, and many other products. The Company through its wholly owned subsidiary, Your Hometown Deli, LLC (Your Hometown Deli), operates a delicatessen store that features home-style sandwiches and other entrees in a casual and friendly atmosphere. The store is designed to offer local patrons of all ages with a comfortable community gathering places.
HOMETOWN INTERNATIONAL, INC. 
