OneRoof Energy Group, Inc. (TSXV:ON) announced a private placement of secured non-convertible notes for gross proceeds of $4,500,000 with existing investor, Black Coral Capital, LLC on September 24, 2015. The company's wholly owned subsidiary of OneRoof Energy, Inc. is the co-issuer of the notes. The company has signed an agreement with the investor. The transaction will happen in tranches. The notes bear interest at a fixed rate of 16% per annum compounded monthly. Any voluntary prepayment of any installment of the notes requires the payment of a penalty equal to one-ninth of the principal amount of the installment of the loan, but no prepayment is required by the notes or permitted by the senior credit agreement. The financing transaction is subject to all applicable regulatory approvals, including the acceptance of the TSXV.

On the same date, the company received $3,000,000 in its first close.