Agritech Worldwide, Inc. (OTCPK:FBER) announced that it has entered into a security purchase agreement for private placement of a promissory note for gross proceeds of $60,000 on April 7, 2017. The note carries a fixed interest rate of 5% per annum. The transaction included participation from existing investor GKS Funding LLC. The company may prepay the principal of the note, in whole or in part at any time without notice, bonus or penalty. The company promises to pay to the investor all of its out-of-pocket costs and expenses in connection with the transaction.