On March 22, 2016, The Pulse Beverage Corporation (OTCPK:PLSB) closed the transaction. The company announced that it has received $500,000 in its third tranche closing. The note issued in this tranche and to be issued in further tranches will mature on November 6, 2016.

The company received net proceeds of $455,860 after closing costs of $44,140. The company will receive $2,500,000 in fourth tranche closing, once it collects an account receivable from its Mexico distributor and fifth tranche of $250,000 will be received once it has met certain other performance criteria. The company will issue 10,558,069 common shares as advisory fee to the lender, with a right to purchase these shares by paying $350,000 to the lender on or before September 22, 2016.