Spindle, Inc. (OTCPK:SPDL) announced a private placement of a 10% convertible promissory note for gross proceeds of $152,000 with JSJ Investments Inc. on January 30, 2018. The note was issued at its par value. The note carries a fixed coupon of 10% per annum and will mature on January 30, 2019. The note is convertible into shares of the company’s common stock at a conversion price of 35% discount to the lowest trading price during the previous 20 trading days to the date of a notice of conversion. Until 90th day after the issuance date, the company may pay the principal at a cash redemption premium of 120%, in addition to outstanding interest, from the 91st day to the 120th day after the issuance date, the company may pay the principal at a cash redemption premium of 125%, in addition to outstanding interest, from the 121st day to the prepayment date, the company may pay the principal at a cash redemption premium of 130%, in addition to outstanding interest. After the prepayment date up to the maturity date this note shall have a cash redemption premium of 135% of the then outstanding principal amount of the note.