Caduceus Announces USD 1,620,000 Financing
Caduceus Software Systems Corp (OTC PINK: CSOC) announced the successful completion of a USD 1,620,000 private placement through a convertible promissory note. The note, which is unsecured, has an 8% interest rate and a conversion price of $0.15 per share. This financing aims to enhance the company’s operational capacity as it ventures into the recession-proof Pet Food and Pet Care industry with the acquisition of McLovin's Pet Food, Inc. Additionally, Caduceus has canceled 1.61 billion shares of its common stock and aims to reach 2 billion shares in total cancellations.
- Raised USD 1,620,000 through a private placement to support operational expansion.
- Acquisition of McLovin's Pet Food positions Caduceus in a growing market valued at USD 207 billion in 2020.
- Successful cancellation of 1.61 billion shares, with a goal of 2 billion shares, potentially enhancing shareholder value.
- Convertible note has a fixed conversion price of $0.15, which could impact share value if the stock performs poorly.
- Unsecured nature of the note may expose the company to higher risks if operational challenges arise.
CHEYENNE, WY / ACCESSWIRE / July 9, 2021 / CADUCEUS SOFTWARE SYSTEMS, CORP. (OTC PINK:CSOC) ("Caduceus" or the "Company"), a publicly traded Wyoming-based holding company currently entering the recession proof Pet Food and Pet Care industry with the pending acquisition of McLovin's Pet Food, Inc. is pleased to announce it has entered into a private placement of USD 1,620,000 of convertible promissory note.
The Company has entered into a definitive agreement with one of its private investors and has raised USD 1,620,000. The convertible note is unsecured, carries an interest of
"We continue to work towards expanding our operational capacity in order to take on bigger orders. This last investment will go towards that objective. We are very satisfied and grateful to our investors for their confidence in our Company," said Alex Chen, Chief Executive Officer of Caduceus Corp.
The Company has also recently completed the buyback and cancellation of 1.61B shares of common stock. The Company is still finalizing further cancellations to reach its goal of up to 2B shares cancelled from the outstanding shares of common stock.
About Caduceus Software Systems, Corp.
Caduceus Software Systems Corp is a Wyoming-based holding company currently entering the recession proof Pet Food and Pet Care industry with the pending acquisition of McLovin's Pet Food, Inc. a California company specialized in the manufacturing and distribution of quality pet foods and accessories. The Pet Food and Pet Care market size was USD 207 Billion in 2020 with a stellar growth of
For more information:
OTC Markets: (OTC Pink: CSOC)
Corporate Website:https://caduceuscorp.co
Email: info@caduceuscorp.co
Discord: https://discord.gg/apolloassets
Twitter: https://twitter.com/caduceuscorp
About McLovin's Pet Food, Inc
McLovin's, Inc. is a California company specialized on the manufacturing and distribution of quality pet foods. We believe in real food. What you'll find in McLovin's is similar to what you'll find in your own grocery cart. In the case of our premium treats, it starts (and ends) with real beef, chicken and salmon. Our products are developed using responsible sourcing and quality is a key part of every single part of our manufacturing process.
Corporate Website: https://mclovinspetfood.com/
Forward-Looking Statements:
Safe Harbour Statement - In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.
SOURCE: Caduceus Software Systems, Corp.
View source version on accesswire.com:
https://www.accesswire.com/654795/Caduceus-Announces-USD-1620000-Financing
FAQ
What is the purpose of Caduceus Software Systems' recent funding?
How much money did Caduceus Software Systems raise in the private placement?
What is the expected market growth for the Pet Food and Pet Care industry?
What is the significance of the share buyback by Caduceus Software Systems?
