Minerco, Inc. (OTCPK:MINE) announced a private placement of convertible promissory note for gross proceeds of $37,500 on July 31, 2016. The note is due and payable on February 1, 2017. The note bears fixed interest rate of 5% per annum. The note is issued at par. The note is convertible into common shares. The conversion price shall be 50% of the lowest per share market value of the five trading days immediately preceding a conversion date or $0.010 per share, whichever is lowest. The note is issued to Sam J. Messina III, director of the company. The company has the right to prepay all or a portion of the outstanding principal amount of this note plus all accrued and unpaid interest thereon.