- American International (OTCQB:AMIH) said on Monday that Pacific Lion had agreed to buy $20M of AMIH common stock under an equity financing agreement.
- AMIH said Pacific Lion had also agreed to fund AMIH up to $400,000 under a Convertible Promissory Note.
- The company said it intends to use the proceeds for general corporate purposes.
- "These investments are part of a broader restructuring plan to recapitalize the company, consolidate and retire existing debt and reduce dilution," AMIH said in a statement.