Mondial Ventures, Inc. (OTCPK:MNVN) announced a private placement of two convertible promissory notes for gross proceeds of $50,000 with certain institutional or accredited investors on September 15, 2014. The notes carries a coupon of 10% per annum and would mature on March 15, 2015. The first tranche amount is to be a minimum amount of $25,000, or greater, and on receipt of the second tranche the aggregate amount together with the first would equal the total principal of $50,000. The company has the right to pre pay any time before March 14, 2015 with sevcen days notice at 130% of face value and including interest thereon the principal amount.

On September 15, 2014, Mondial Ventures, Inc. closed the transaction.