Imperalis Holding Corp. announced that it has entered into agreement for a private placement of promissory note for proceeds of $250,000 on April 6, 2023. The transaction included participation from FAR Holdings International, LLC.

The Note has a principal face amount of $300,000, was issued with an original issuance discount of $50,000, and bears no interest. The Company is required to pay the Investor $100,000 on May 6, 2023, June 6, 2023, and the maturity date of July 6, 2023. The Note also allows prepayment without any penalty.

The Note contains a single event of default if the Company fails to make payments within five business days when due under the Note, then the Company must pay the Investor a default fee of three percent of the amount due. The company also issued warrants to purchase an aggregate of 1,000,000 shares for a period of five years at an exercise price of $0.044 per share