Notis Global, Inc. (OTCPK:MDBX) announced that it has entered into a securities purchase agreement for a private placement of convertible debentures gross proceeds of $1,500,000 with an accredited investor on June 30, 2016. The notes carry a fixed interest rate of 10% per annum. The notes are convertible into common shares of the company at a conversion price that is the lower of $0.75 or a 40% discount to the lowest traded price of the company’s common stock during the 30 trading days prior to the conversion date. The company will raise funding in six tranches. On the same date, the company announced that it has received $125,000 in the first tranche of the transaction. The company will receive $125,000 on July 1, 2016, $125,000 on July 6, 2016, $125,000 on July 8, 2016, $500,000 on July 29, 2016 and $500,000 on August 31, 2016.