Cardinal Energy Group, Inc. (OTCPK:CEGX) announced a private placement of convertible promissory note for gross proceeds of $54,000 on March 18, 2015. The note is issued at a discount of $6,000 and will mature on March 18, 2017. The holder has an option to repay within 180 days, after 180 days, the repayment will be 115% of the principle for the first 90 days, after 90 days, it will be $130% of the principle.

The company paid expenses of $4,000 in the transaction.