Global Vision Holdings, Inc. announced that it has received $0.02 million in funding.
November 04, 2013 at 11:00 pm EST
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Global Vision Holdings, Inc. (OTCBB:GVHI.B) announced a private placement of 8% convertible promissory note for gross proceeds of $18,500 with a single accredited investor on November 5, 2013. The note will bear interest at 8% per annum and will mature in nine months from the date of issuance. The note will be convertible into class B common share of the company beginning 180 days after the issuance of the note at a conversion price equal to 55% of the market price. During the first 180 days after the issuance of the note, the company has the right to prepay the principal and interest under the note at a premium, which varies depending on the date of prepayment. The note also contains default provisions, including provisions for potential acceleration of the note, a default premium, and increased rate of interest in the event of default.
On November 5, 2013, Global Vision Holdings, Inc. closed the transaction.
Global Vision Holdings, Inc. is a financial holding company that focuses on the investments of environmentally responsible companies. In addition to the parent Company, Global Vision Holdings, Inc. operates four wholly-owned subsidiaries: The Place Media, LLC; Mammaâs Best LLC, Strategic Management Consultants, LLC, and Grocers Direct, LLC. The Place Media, LLC publishes The Place Magazine, a travel and tourist guide highlighting local attractions, entertainment and restaurants to visitors to the San Diego, Orange County and Los Angeles areas. Through Mammaâs Best, LLC, the Company produces and sells food products. Its Mammaâs Best products are available at organic and natural food retail outlets primarily in Southern California. Grocers Direct provides consulting and representation services for emerging natural food brands in the retail market place.
GLOBAL VISION HOLDINGS, INC. 
