Greenfield Farms Food, Inc. (OTCPK:GRAS) announced a private placement of a convertible promissory note for gross proceeds of $10,500 on May 27, 2015. The transaction included participation from returning investor Carebourn Capital, L.P. The note carries a coupon of 12% per annum and would mature on February 27, 2016. The note is convertible by the holder after 180 days at 40% of the three lowest closing bid prices in the 90 trading days before the conversion.

The company has received net proceeds of $7,500.