Mar 17 2010
HST Global, Inc., (OTCBB: HSTC) today announced that it is in final negotiations to obtain the needed capital to complete the acquisition of its first wellness center. This infusion of cash will allow HST to complete the wellness center acquisition and provide operating capital.
Financing will be in the form of a $2,000,000 non-convertible debenture. HST promises to pay to the registered holder the aggregate principal face sum Twenty-Four (24) months from the date of issuance, and to pay interest on the principal sum outstanding, at the rate of 12% per annum commencing upon the first business day following the 6 month anniversary of the closing and such semi-annual periods thereafter.
Wesley Tate, CFO of HST Global, Inc. stated, "We are encouraged by the progress of these negotiations and believe they will conclude in the near future. We anticipate annual gross revenues for each individual clinic of approximately between 8 and 10 million dollars per year. More importantly, this will permit the funding of this acquisition without diluting our current shareholder’s equity while substantiating shareholder value.”
SOURCE HST Global, Inc.