BlueFire Renewables, Inc. (OTCBB:BFRE) announced a private placement of convertible promissory note for gross proceeds of $300,000 on March 28, 2012. The funding will involve the participation of TCA Global Credit Master Fund, LP, fund managed by Trafalgar Capital Advisors LTD. The notes will carry a coupon of 12% per annum and will mature on March 28, 2013. The notes will be convertible into common shares at a price equal to 95% of the lowest daily volume weighted average price of the common stock during the 5 trading days immediately prior to the date of conversion. The notes were issued pursuant to Regulation D. On March 28, 2012, BlueFire Renewables, Inc. closed the transaction.