Zivo Bioscience gets $1M loan from CEO
Zivo Bioscience (NASDAQ:ZIVO) on Wednesday said it got a $1 million unsecured six-month loan from its CEO John Payne.
The loan carries 10% simple interest and may be prepaid without penalty.
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.
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.