Eagle Equities, LLC has purchased additional 666,666 common shares of Gopher Protocol Inc. for a total price of $500,000.
On Dec. 29, 2017, Eagle agreed to buy 2 million common shares of Gopher at 75 cents per share, for a total purchase price of $1.5 million.
Gopher will deposit an additional 2 million common shares into escrow that will be released to Eagle, if, prior to Jan. 31, 2019, it issues shares at an issue price of less than 30 cents per share.
Additionally, Gopher issued Eagle a warrant to acquire 666,666 common shares, exercisable for three years, at an exercise price of $2.00 per share.
Gopher Protocol was formerly known as Forex International Trading Corp.