Foothills Exploration Inc.
Description
Foothills Exploration, Inc. has received a bridge loan from FirstFire Global Opportunities Fund LLC. The Bridge loan is structured as a Convertible note in the principal amount of $267,500, bearing interest at 8% per year, with a term of nine months. In connection with the bridge loan, the company issued to FirstFire 60,000 shares of restricted common stock and warrants to purchase 267,500 shares of common stock at a strike price of $1.00 per share.