2023-04-05 16:35:15 ET
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Zivo Bioscience ( NASDAQ: ZIVO ) on Wednesday said it got a $1 million unsecured six-month loan from its CEO John Payne.
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The loan carries 10% simple interest and may be prepaid without penalty.
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The loan is extendable for an additional six months and includes warrants to purchase 390,000 shares of ZIVO common stock at $2.91 per share.
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Proceeds will be used to fund a recently launched validation study with its product candidate for the prevention and treatment of coccidiosis in broiler chickens, to pursue additional strategic alternatives, among other things.
For further details see:
Zivo Bioscience gets $1M loan from CEO