eFleets Corporation (OTCPK:EFLT) announced a private placement of an unsecured convertible promissory note with existing investor, Koukis Holdings SA for gross proceeds of $43,000 on July 11, 2014. The note has a principal value of CHF 38,335 ($42,991.9). The note bears interest at the rate of 8% per annum payable at the maturity and will mature after one year from issuance. The note is convertible into common shares of the company at $1 per share. The company also issued 43,000 warrants exercisable at $1.20 per share until July 11, 2019. The conversion was made through www.oanda.com on July 11, 2014.

On July 11, 2014, eFleets Corporation closed the transaction.