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EX-10.3 4 f8k031516ex10iii_omagineinc.htm CLOSING STATEMENT

Exhibit 10.3

 

March 15, 2016

 

RE:Closing Statement in connection with the Note Purchase Agreement between Omagine Inc. (“Company”) and YA II PN, Ltd. (p/k/a YA Global Master SPV, Ltd.) (“Investor”).

 

This letter shall constitute the Closing Statement agreed upon between the Company and the Investor regarding various payments and transfers to be made by the parties in connection with Note Purchase Agreement dated March 15, 2016 (“Subscription Agreement”).

 

The parties hereby agree that the Investor shall make the payments and transfers set forth below in accordance with the wire instructions to the account of each recipient as set forth on Schedule A attached hereto (or otherwise provided to the Investor):

 

Gross Proceeds to be paid to the Company:  $600,000.00 
Less:     
Commitment Fee to be paid to the YA Global II SPV LLC (as designee of the Investor):  $(60,000.00)
Repayment to the Investor of balance owed under the Promissory Note dated May 20, 2015:  $(150,575.34)
      
Net Proceeds to the Company:  $389,424.66 

 

 

 

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Omagine Inc.

 

By: /s/ Charles P. Kuczynski    
Name: Charles P. Kuczynski    
Title: Vice President    
     
     
YA II PN, Ltd.    
By: Yorkville Advisors Global, LP    
Its: Investment Manager    
     
By: Yorkville Advisors Global, LLC    
Its: General Partner    
     
By: /s/ Gerald Eicke    
Name: Gerald Eicke    
Title: Managing Member    

 

 

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SCHEDULE A

ACCOUNT INSTRUCTIONS

 

 

 

Omagine Inc.    

Omagine, Inc.

Account Number  ████████ (Confidential)

 

Bank of America, NA

ABA # 021000322

Swift ID: BOFAUS3N

 

34TH Street Branch

324 West 34th Street

New York, N.Y. 10118

 

Bank Contact: Sidney Haines

Telephone: 212 ###-###-####

 

 
   

 

YA Global II SPV LLC and the Investor:

 

Instructions on file.

 

 

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