Spindle, Inc. (OTCPK:SPDL) announced a private placement of convertible promissory note for $200,000 on April 13, 2018. The transaction will involve participation from Labrys Fund, LP, a fund managed by The EquiLux Group, LP. The convertible note carries an original issue discount of $20,000. The convertible note accrues interest at the rate of 10% per annum. The convertible note is convertible into shares of the company’s common stock at a conversion price of 35% discount to the lowest trading price. The notes will mature at any time on or after April 13, 2019. The purchase price of this Note shall be $180,000.