Integrated Environmental Technologies, Ltd. (OTCPK:IEVM) announced a private placement of two 12% convertible debentures at a price of $100,000 for gross proceeds of $200,000 on December 3, 2015. The transaction included participation from two individual investors. The company also issued warrants to purchase 1,587,300 shares of its common stock.

The principal amount for the debentures is $111,111 per debenture. The debentures will mature on December 3, 2017, bear fixed interest at a rate of 12% per annum and contain an original issue discount of 10%. Interest is payable in annual installments in cash or, at the option of the company, in shares of its common stock.

If the company elects to pay the interest in shares of its common stock, the number of shares issued as payment will be equal to the quotient of the unpaid interest divided by the market price of its common stock. The entire principal amount of a debenture is convertible at any time into shares at the option of the investor or the company at a fixed conversion price of $0.07 per share. In addition, at the option of the company, the entire principal amount of a debenture is convertible into shares at $0.07 per share upon the occurrence of a change of control, as defined in the debentures, or if the average closing price of the Company's common stock for any period of twenty consecutive trading days is greater than or equal to $0.30 per share.

The warrants have a three-year term and provide the investors the right to purchase an aggregate of 1,587,300 shares of the company's common stock at $0.10 per share.