Verus International, Inc. announced that it has received $0.08 million in funding
January 12, 2021
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Verus International, Inc. (OTCPK:VRUS.D) announced that it has entered into a securities purchase agreement for a private placement for a convertible promissory note in the principal amount of $88,000 for gross proceeds of $80,000 on January 13, 2020. The transcation included participation from an accredited investor. The note will mature on January 13, 2022 and bears interest at a rate of 8% per annum and is convertible into shares of the the company's common stock, par value $0.000001 per share, at a conversion price as specified in the Note, subject to adjustment. The note is issued The note may be prepaid by the company at any time prior to the 180th day after the issuance date of the note for a prepayment amount of 105% of principal plus accrued interest for prepayment date in less than 60 days, 120% of principal plus accrued interest for prepayment date from 61 to120 days, and 135% of principal plus accrued interest for prepayment date from 121 to 180 days. The company issued the note at the original discount of $4,000. the company paid $4,000 as legal fees and received net proceeds of $80,000.
Verus International, Inc. is a multi-line consumer packaged goods (CPG) company developing branded product lines in the United States and on a global basis. The Company is focused on international consumer packaged goods, foodstuff distribution and wholesale trade. The Company markets its consumer food products under its own brand primarily to supermarkets, hotels, and other members of the wholesale trade. The Company provides frozen foods, particularly meat, poultry, seafood, vegetables, and French fries with beverages. It also provides cold-storage facilities and is seeking sources for fresh fruit, produce and similar perishables, as well as other consumer packaged foodstuffs. The Company has its regional presence in the Middle East and North Africa (MENA) and sub-Saharan Africa, with deep roots in the Gulf Cooperation Council (GCC) countries, which includes the United Arab Emirates (UAE), Oman, Bahrain, Qatar, Kingdom of Saudi Arabia and Kuwait.
VERUS INTERNATIONAL, INC. 
