Cirque Energy, Inc. announced that it has received $0.05 million in funding from Asher Enterprises, Inc.
December 20, 2013 at 09:30 am IST
Cirque Energy, Inc. (OTCPK:EWRL) announced that it has entered into a securities purchase agreement for the private placement of a 8% convertible promissory note for proceeds of $47,500 on December 20, 2013. The company issued the note to existing investor, Asher Enterprises, Inc. The note will carry an interest of 8% per annum and will be convertible into common shares of the company. In case of default, the investor will demand that the company immediately pay the sum representing 150% of the remaining outstanding principal balance plus accrued but unpaid interest thereon plus default interest, which is 22% from the due date.
On December 20, 2013, Cirque Energy, Inc. closed the transaction.