Soul and Vibe Interactive Inc. (OTCPK:SOUL) announced a private placement of a convertible promissory note for principal gross proceeds of $25,000 on December 2, 2015. The transaction included participation from accredited investor, BME Holdings, LLC. The note bears a fixed interest rate of 10% per year and will mature on 365-days from the closing.

The note is convertible into common stock at a conversion price of $0.5970 per share. The note is issued at an original issue discount of 5.66%, for gross proceeds of $26,500.