Strategic Oil & Gas Ltd. (TSXV:SOG) announced a non-brokered private placement of convertible notes for gross proceeds of CAD 4,200,000 on September 10, 2018. The notes will carry a fixed coupon of 8% per annum, payable semi-annually. The notes are convertible into common shares of the company at a conversion price of CAD 0.165 per share subject to exchange approval. The notes are currently unsecured. The company has received commitments from note holders representing over 95% of senior convertible notes currently outstanding to subscribe for notes for an amount approximately equivalent to the interest payment received on August 31, 2018.