Barrel Energy issues $200,000 6% convertible note to CFI Capital LLC under private placement
BRLL•Private placement note terms
Barrel Energy entered a Securities Purchase Agreement with CFI Capital for a 6% Convertible Redeemable Note with $200,000 principal.
- Investor funded $180,000 on Aug. 24, reflecting a $20,000 original issue discount; net cash proceeds were $173,000.
- The note matures Aug. 21, 2027.
- Interest accrues at 6% from Aug. 21, 2026, payable in common stock.
Conversion provisions and share reserve
Conversion starts six months post-issuance at 60% of the lowest 20-day trading price; this steps to 50% on a DTC chill.
- The company reserved 11,111,111 shares for conversion.
- The beneficial ownership cap is set at 4.99%, adjustable to 9.9% with notice.
