SurePure, Inc. (OTCPK:SURP) announced a private placement of 900,000 common shares at $1 per share with existing investor, Trinity Asset Management (Pty) Ltd. for gross proceeds of $900,000 on September 19, 2013. Trinity Asset Management (Pty) Ltd. will invest through its Mauritius based related entity, Trinity Asset Management International Limited, an accredited investor. The transaction will be completed in seven tranches through March 25, 2014. The company will issue 360,000 shares in the first tranche, which is expected to close on September 30, 2013 and no later than October 25, 2013. The company expects to issue the remaining 540,000 shares in six equal tranches of 90,000 shares each on October 25, 2013, November 25, 2013, December 13, 2013, January 24, 2014, February 25, 2014, and March 25, 2014. If any purchase price is paid other than prior to or on the dates mentioned for the issue of 540,000 shares, the price per share for that tranche and all the remaining tranches will be the greater of $1.00 per share or 92% of volume weighted average price for the 20 trading days ending on the third trading day prior to the closing date. The securities will be issued pursuant to exemption provided under Regulation D and Regulation S. William A. Newman of Barton, LLP will act as the legal advisor to the company.

On November 7, 2013, the company announced that it has amended the terms of the transaction. The company modified the schedule for the issuance of 360,000 shares in the first tranche. The investor can purchase shares at any time at until March 25, 2014.


On March 5, 2014, SurePure, Inc. closed the transaction. The company issued 184,825 shares for gross proceeds of $184,825 to the investor.