PhoneBrasil International, Inc. announced that it has entered into a securities purchase agreement for a private placement of secured convertible promissory notes for gross proceeds of $150,000 on October 5, 2021. The transaction included participation from Mikab Corporation and AmeriCrew Holdings LLC. The company also issued a warrant for the right to purchase additional shares of common stock. Each warrant is exercisable for initial exercise price of $1.9032 per share. The notes has a term of two years and matures on October 5, 2023. The note accrues interest at a rate of 8% per annum. The note is convertible at any time, at the holder’s option, into shares of the common stock at a price of $1.9032 per share, subject to certain adjustments. The notes are issued at par and are redeemable for cash in an amount equal to the sum of 110%. The company has issued securities pursuant to exemption provided under Section 4(a)(2) of the Securities Act of 1933 and Rule 506.