Diagnostic Imaging International Corp. (OTCPK:DIIG) announced a private placement of three year 12% convertible notes with accredited investors for gross proceeds of $95,000 on May 22, 2014. The notes will bear interest at a rate of 12% per annum, payable monthly, and are due on May 31, 2017. The notes are convertible into common shares of at an initial conversion rate of $0.15 per share. The company also issued 95,000 shares common shares to the investor. The company issued the securities pursuant to exemption provided under Regulation D.

On May 22, 2014, Diagnostic Imaging International Corp. closed the transaction.