San Diego, CA -- (SBWIRE) -- 10/23/2013 -- Growlife Inc (OTC:PHOT) stated that it signed a Conversion, Warrant Exercise and Note Retirement Agreement with Gemini Master Fund. The agreement demands the partners to convert the $280,000 OID Note into 8,000,000 shares of common stock of the company.
Growlife says that the common stock, according to the agreement, will be converted at price of $0.035 per share. The company had to repay $280,000 before October 31, 2013. The company will issue the 8,000,000 shares and thus the Note will be paid in full.
GrowLife, Inc., formerly Phototron Holdings, Inc. is a business that manufactures and sells Phototron Units, horticultural seeds, nutrient solutions and germination supplies. The Company merged with PHI Merger Corporation and since then the mergers have continued. The company now distributes its products itself to the retailers.
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