Frélii, Inc. (OTCPK:FRLI) announced that it has entered into a securities Purchase Agreement with an accredited investor for the issuance of a convertible redeemable promissory note, for proceeds of $203,000 on January 9, 2020. The principal amount of the note is $243,600 with an original issue discount of $40,600. The note is due on January 9, 2021 and entitles an interest rate of 10% per annum. The note may be converted into shares at a 20% discount to the average of the two lowest closing bid price of the common stock during the 20 trading days immediately prior to the delivery of a notice of conversion, The company may redeem the note prior to July 8, 2020, as follows: within the first 60 days at 100%, after the 61st day but on or before the 90th day at 105%, after the 91st day but on or before the 120th day at 110%, after the 121st day but on or before the 150th day at 115%, and after the 151st day but on or before the 180th day at 120%. There is no prepayment option after 180 days.