Greenwood Hall, Inc. (OTCPK:ELRN) announced that it has entered into a securities purchase agreement for a private placement of 1 convertible promissory note for gross proceeds of $53,000 on September 20, 2017. The note is issued at a par value. The transaction included participation from Power Up Lending Group Ltd. The note will bear a fixed interest rate of 12% per annum and will mature on June 30, 2018. The note is convertible into common shares of the company in whole or in part, at a price per share equal to 55% multiplied by the market price of the common shares, representing a discount rate of 45%. The security has been issued pursuant to exemption provided under Regulation D.