Daybreak Oil and Gas, Inc. (OTCPK:DBRM) announced that it has entered Secured Promissory Note agreement with Chief Executive Officer of company James Forrest Westmoreland and Angela Marie Westmoreland for aggregate gross proceeds of $155,548.34 on December 22, 2020. The promissory note would mature on December 21, 2036 and bears an interest rate of 2.25% per annum and requires monthly payments on the Note balance until repaid in full. The transaction was approved by the board of directors of the company.