XSport Global, Inc. (OTCPK:XSPT) announced that it has entered into security purchase agreement for private placement of 8% convertible promissory note for $57,000 and 10% convertible promissory note for $100,000, total gross proceeds of $157,000 on December 17, 2018. The 8% convertible promissory note bears a fixed interest rate of 8% per annum and would mature on December 14, 2019. The note is issued at par value. The note is convertible into common shares on any date after June 12, 2019, after which the note may be convert into common stock at a 40% discount to the common stock’s lowest trading price during the 20 trading days prior to the date of the conversion notice. Such conversion is subject to certain additional terms and conditions, including a waivable limitation on the note holder's ability to convert the note into an amount of common stock that would result in the note holder, together with its affiliates, owning more than 4.99% of the outstanding common stock. The 10% convertible promissory note bears a fixed interest rate of 10% and would mature on December 17, 2019. The note is issued at an original issue discount of 9.090909%, for principle amount of $110,000. The note is convertible into common shares of the company after 180 days after which common stock at any time, at a 35% discount to the common stock’s lowest trading price during the 20 full trading days prior to the conversion date. Such conversion is subject to certain additional terms and conditions, including a waivable limitation on the note holder’s ability to convert the note into an amount of common stock that would result in the note holder, together with its affiliates, owning more than 4.99% of the outstanding common stock, and an non-waivable limitation on the note holder’s ability to convert the 10% note into an amount of common stock that would result in the note holder, together with its affiliates, owning more than 9.99% of the outstanding common stock. The 8% note may be prepaid in full on any day on or prior to June 12, 2019, but is subject to prepayment premiums that increase over time. Upon maturity of the note, those prepayment premiums cease to be effective. The 10% note may be prepaid in full on any day on or prior to June 15, 2019, but is subject to prepayment premiums that increase over time. Upon maturity of the note, those prepayment premiums cease to be effective. The company also issued warrants to purchase 372,754 common stock at an exercise price of $0.50 per share expiring on December 17, 2023. The company has paid the transaction expenses of $25,000.