Blox, Inc. (OTCPK:BLXX) announced that it has entered into a securities purchase agreement with Power Up Lending Group Ltd. for private placement of a convertible promissory note for gross proceeds of $68,000 on June 8, 2020. The note is issued at a discount of $6,800 to the principal value of $74,800. The note is due and payable on June 8, 2021 and bears interest at the rate of 8% per annum before maturity and 22% per annum after maturity. The investor may, at its option, beginning December 5, 2020 and until payment of all outstanding principal and interest, convert all or any portion of the note into common shares at the price that is a 25% discount to the lowest trading prices during the 20 consecutive trading days prior to the conversion date. The company is entitled to prepay the convertible note at the rate of 110% during the 60 days following the issue date. The prepayment rate will increase by 5% each subsequent thirty day period and the prepayment right will expire after 180 days following the issue date. The company has issued note pursuant to exemption provided under Regulation D.