Converde Energy USA, Inc. (OTC: XFUL) this morning announced its entry into a securities purchase agreement with GPL Ventures LLC (“GPL”) through which GPL will have the option to purchase up to $3 million in XFUL common stock when the company has qualified the necessary number of shares under Regulation A through an offering statement. Per the update, XFUL intends to file the offering statement within the next 30 days. “We are very excited to have this investment agreement in place as a primary funding vehicle for the company,” Brad Domitrovitsch, chairman and CEO of XFUL, stated in the news release. “The relationship with GPL will be key for us and our investors as we execute on the business plan to expand both organically and through acquisitions. Initial capital from GPL will be used for the growth of our energy business lines.”
Additionally, XFUL announced its issuance of a Convertible Promissory Note in the principal amount of $100,000 in order to retain the services of Minivest as its business advisor and gain access to its online marketing platform. The note accrues interest at the rate of eight percent per annum and is due in full on or before May 23, 2018.
To view the full press release, visit http://dtn.fm/Yr2m3
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About Converde Energy USA, Inc. (XFUL)
XFUL and its group of companies focus on providing solutions in markets where energy production and water meet technology. Collectively, the subsidiaries are engaged in the energy sector as well as the design, construction and operation of regional water treatment facilities that serve the industrial, energy and government sectors.
Hydration Corporation of PA, LLC (“HCPA”) is engaged in the businesses of water exploration, water augmentation, and the treatment of impacted waters. Notably, its intellectual property delivers one of the highest energy yields from a broad range of water-bearing assets, with one of the lowest capital expenditures of any other known water processes. American Energy Solutions, LLC provides treatment technologies that contribute to HCPA’s business model of low-cost treatment and distribution. As a provider of design, this subsidiary is capable of repeatable and synergistic services across the value chain. Gilbert Oil & Gas Company is leveraging broad industry valuation experience to source drilling, operating, and partnership opportunities in the upstream oil and gas space. It is positioned to become a strong customer of XFUL’s other subsidiaries while providing them with the foundation to attract other customers and enter new markets. For additional information, visit: http://americanenergy-inc.com
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