Latteno Receives $1,000,000 Funding Commitment From an Offshore Hedge Fund
November 05 2013 - 3:52PM
Marketwired
Latteno Receives $1,000,000 Funding Commitment From an Offshore
Hedge Fund
SANTA ANA, CA--(Marketwired - Nov 5, 2013) - Latteno Food Corp.
(OTC Pink: LATF) today announced that it has received an offer from
a privately-held Vietnam-based hedge fund group for $1,000,000 in
funding commitment.
The initial funding commitment of $250,000, available
immediately upon signing, will be in convertible debt to be payable
in 10 years at a fixed 5% APR with no prepayment penalty. The
remaining $750,000 will be funded in 3 tranches starting in 30 days
upon the date of signing.
Latteno will receive net proceeds of approximately $900,000 from
the private placement, after paying placement agent fees, which
will be used to fund the Company's growth initiatives and for
working capital purposes.
The shares offered in the private placement have not been
registered under the Securities Act of 1933 or applicable
securities laws of any state or jurisdiction. Accordingly, the
shares may not be offered or sold in the United States except
pursuant to an effective registration statement or an applicable
exemption from the registration requirements of the Securities Act
and such applicable securities laws of any state or
jurisdiction.
Thu Le, Chief Executive Officer of Latteno, commented, "This
infusion of capital will allow us to implement our growth
initiatives, fund our products research/development and capture
greater market share as demand for our expanding portfolio of MMJ
products and services increase. It came in at a perfect timing
since we have pending LOIs along distributorship/partnership
agreements to sign from a couple pending JVs and mergers."
About Latteno Food Corp.
(Latteno.com)
Latteno Food Corp. is an
investment portfolio company that acquires food products, medical
marijuana edibles and related products/services to enhance their
growth and development. The company builds revenues and asset value
through a model of continuous growth, income from or sale of its
portfolio holdings, and product licensing or distribution
agreements.
About Green Cannabis
Collective Inc. (Green-Cannabis.com)
Southern California-owned and
licensed medical marijuana dispensary and transporting. The
specific purpose of this corporation is to collectively facilitate
medical marijuana cultivation and transactions by and between
qualified patient members of this corporation and/or primary
caregiver members who have the oral or written approval or
recommendation of a licensed physician, as permitted and authorized
by the Compassionate Use Act of 1996 (Health and Safety Code
section 11362.5) and the Medical Marijuana Program Act (Health and
Safety Code sections 11362.7 - 11362.83).
About Valley Organics Inc.
(ValleyOrganics.org)
Southern California-owned and
licensed medical marijuana co-op and transporting. The specific
purpose of this corporation is to collectively facilitate medical
marijuana cultivation and transactions by and between qualified
patient members of this corporation and/or primary caregiver
members who have the oral or written approval or recommendation of
a licensed physician, as permitted and authorized by the
Compassionate Use Act of 1996 (Health and Safety Code section
11362.5) and the Medical Marijuana Program Act (Health and Safety
Code sections 11362.7 - 11362.83).
About Mekonza Corp.
(Mekonza-corp.com)
Headquartered in Southern
California since 2006, Global Trading Group (GTG) started out as a
luxury/exotic car exporter and eventually branched out into seafood
importing which came about Mekonza Seafood. The variety of seafood
products we offer has allowed us to be an innovator in product
development. The diversity of our products allows us to be the next
force-to-be-reckon-with in the seafood industry. Mekonza has grown
from a small one-man operation to one of the West Coast's most
innovative and well-equipped seafood importing and processing
companies. With outstanding customer service as our secret sauce
and key ingredient, we're on our way to be the industry's leader
committed to achieve the highest possible standards in quality,
service to our clients, suppliers and investors.
Safe Harbor Statement
This release contains
forward-looking statements within the meaning of Section 27a of the
Securities Act of 1933, as amended and section 21e of the
Securities and Exchange Act of 1934, as amended. Those statements
include the intent, belief or current expectations of the company
and its management team. Prospective investors are cautioned that
any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual
results may differ materially from those projected in the
forward-looking statements as a result of various factors.
Accomplishing the strategy described herein is significantly
dependent upon numerous factors, many that are not in management's
control. Some of these factors include the ability of the company
to raise sufficient capital, attract qualified management, attract
new customers and effectively compete against similar
companies.
Contact: Latteno Food Corp. Investor Relations (714) 382-6808
info@latteno.com
Latteno Food (CE) (USOTC:LATF)
Historical Stock Chart
From Apr 2024 to May 2024
Latteno Food (CE) (USOTC:LATF)
Historical Stock Chart
From May 2023 to May 2024