Grow Solutions Holdings, Inc. announced that it has received $0.1 million in funding
May 24, 2017
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Grow Solutions Holdings, Inc. (OTCPK:GRSO) announced a private placement of a promissory note for gross proceeds of $100,000 on May 25, 2017. The transaction will include participation from accredited investors. The company will issue note at the principal amount. The note bears fixed interest rate of 15% per annum. The note is convertible following 180 days from the date of issuance. The company will issue the shares of common stock in an amount equal to 33% of the outstanding balance of principal and interest under the note on the maturity date to the investor. The issuance of the company’s common stock to the investor shall be at the conversion price on the maturity date. The company shall deliver the shares of common stock to the lender within ten days after the maturity date. The company will issue securities pursuant to exemption provided under exemption under section 4(a)(2) of the securities act.
Grow Solutions Holdings, Inc. is a shell company. The Company is focused on designing and manufacturing modular aeroponic vertical farming units (AeroPo) that are equipped with monitoring and automation to make growing aeroponically simple and predictable with human intervention. The Company plans to offer AeroPods as agricultural products for the farming sector. The AeroPod technological, through sensors and controller provide growing environment for food or cannabis. The Companyâs wholly owned subsidiary is Pure Roots Holding, Corp.