Code Green Apparel Corp. (OTCPK:CGAC) announced that it has entered into note purchase agreement for private placement of a10% convertible debenture for gross proceeds of $27,500 on April 12, 2017. The transaction included participation from Sojourn Investments LP. The note carries a fixed interest rate of 10% per annum with a default rate of 18%, and is due on January 12, 2018. The note was issued at a discount of $5,000. The note is convertible into common shares of the company at the option of the holder at a conversion price is equal to 58% of the average of the lowest three trading prices of the company’s common shares during the prior 20 trading days. The company has the option to prepay the bonds if repaid more than 30 days after the closing date, at 130% of the principal amount of the debenture, together with accrued interest. The securities were issued pursuant to exemption provided under Regulation D.