Minerco, Inc. (OTCPK:MINE) announced that it has signed a stock purchase agreement with Bryce Schmidt for the private placement of a convertible note for gross proceeds of $12,500 on March 8, 2016. The note will be issued at par and will mature on September 8, 2016. The note carries a fixed interest of 8% per annum.

The note is convertible into common shares of the company. The investor shall at any time during the period beginning on the issue date and ending on the date which is six months following the issue date have the right to prepay the note. The company shall pay all reasonable attorneys' fees and expenses incurred by the investor.