Vapor Hub International Inc. (OTCPK:VHUB) announced that it has entered into a senior secured credit facility agreement with TCA Global Credit Master Fund, LP for private placement of a convertible promissory note for gross proceeds $750,000 on December 24, 2015. The note carries a fixed interest rate of 18% per annum and would mature on June 24, 2017. The company will make interest only payments of $11,250 on each of January 24, February 24 and March 24, 2016, and thereafter, will make payments of $56,208 of principal and interest per month until the maturity date.

The company may prepay the notes at any time, in whole or in part, without penalty. Proceeds include $60,000 previously advanced to the company by investor. The company will issue securities pursuant to exemption provided under Regulation D. At any time prior to the maturity date or the earlier termination of this agreement, the company can request up to $9,250,000 of additional loans, which additional loans may be made in the sole discretion of the investor.

The note may be, at the sole option of the investor, convertible into common shares of the company.