Advantego Corporation (OTCPK:ADGO) announced that it entered into an equity line of credit agreement of common shares for gross proceeds of $5,000,000 on June 14, 2018. The transaction will include participation from Tangiers Investment Group LLC. During the term of the agreement, the company may deliver a put notice to investor, which will specify the number of shares which the company will sell to investor. The minimum amount the company can draw down at any one time is $5,000, and the maximum amount the company can draw down at any one time is $350,000 as determined by the formula contained in the equity line agreement. The equity line agreement has a term of 36 months. A closing will occur on the date which is no earlier than five trading days following and no later than seven trading days following the applicable put notice. The company may submit a put notice once every eight trading days provided the closing of the previous transaction has taken place. The company issued a promissory note to the investor for the principal sum of $50,000 as a commitment fee for the equity line. The note bears interest at 10% per year, is unsecured, and is due and payable on January 11, 2019. At the option of the investor, all or any part of the unpaid principal amount of the note may be converted into shares of the company's common stock. The number of shares to be issued on any conversion will be determined by dividing the principal amount of the note to be converted by $1.44.