NanoFlex Power Corporation (OTCPK:OPVS) announced that it has entered into a securities purchase agreement with an accredited investor, GW Holdings Group, LLC for gross proceeds of $63,000 on August 12, 2019. The company issued convertible redeemable promissory note in the aggregate principal amount of $69,300, with original issue discount of 10% of $6,300. The note is convertible into common shares of the company. The interest on the note is 12% per annum. The note will mature on August 12, 2020. The note may be converted in the first six months post the issuance at a fixed price of $0.25 per share, after which the conversion price shall be equal to 60% of the lowest trading price during the 20 prior trading days. The note may be redeemed within 90 days from the date of closing of the transaction at a premium of 135%, if redeemed between 90th day and 180th, at a premium of 150% and if redeemed after 180th day, there shall be no further right of redemption. The securities are subject to certain restrictions. The company received net proceeds of $60,000 in the transaction after incurring legal fees of $3,000.