Triton Emission Solutions Inc. (OTCPK:DSOX) announced that it has entered into a binding letter agreement for private placement of unsecured, non-convertible promissory note for gross proceeds of up to $1,500,000 on December 17, 2015. The note will bear a fixed interest rate of 10% per annum, compounded monthly, and shall be payable in a single lump-sum payment of principle and all accrued and unpaid interest on the maturity date, January 15, 2017. The note will be convertible at a fixed conversion price of $0.10 per share, in minimum increments of $250,000. The company may prepay the note either in whole or in part in increments of not less than $250,000 each. The transaction will take place in five equal tranches of $300,000. Each tranche will take place on the first day of each calendar month following the date of the agreement. The company will also issue 8,000,000 warrants. Each warrant will be exercisable at $0.10 per share for the period ending on January 15, 2021. The transaction will include participation from a returning investor, KF Business Ventures, LP. The company will sign definitive formal agreements as soon as practicable. The company will issue the warrants pursuant to exemption provided under Regulation D. The company shall reimburse the investor for all attorneys' fees and costs up to $7,500.

On the same date, the company received $300,000 in funding from the investor.