Medical Innovation Holdings, Inc. (OTCPK:MIHI) announced a private placement of 8% convertible redeemable promissory note for gross proceeds of $50,000 on September 12, 2017. The transaction included participation from returning investor Eagle Equities, LLC. The note carries fixed interest rate of 8% per annum and carries maturity date of May 12, 2018. The company issued note at par. The note is exchangeable. The note is convertible at a conversion price equal to 60% of the lowest trading price of the common shares for the 15 prior trading days. The outstanding principal balance of the note may be prepaid at 115% of principal plus accrued interest in less than 30 days, 121% of principal plus accrued interest from 31 to 60 days, 127% of principal plus accrued interest from 61 to 90 days, 133% of principal plus accrued interest from 91 to 120 days, 139% of principal plus accrued interest from 121 to 150 days, and 145% of principal plus accrued interest from 151 to 180 days.