Unified Signal, Inc. (OTCPK:UNSI) announced that it has entered into a material definitive agreement with a new accredited investor Gettysburg Holdings, LLC for the private placement of a convertible promissory note for gross proceeds of $550,000 on January 8, 2016. The note was issued at par and will mature on July 8, 2016. The note carries a fixed interest of 10% per annum.

If an event of default occurs pursuant to the terms of note, the interest rate immediately increases to 18%. The company may prepay the note at any time. The note can be converted into common shares of the company at a fixed conversion price of $0.25 per share.

The note is secured by all of the assets of the company. The note is personally guaranteed by Paris Wayne Holt; Chief Executive Officer of the company. The company shall pay when due all costs and expenses required by applicable law, relating to this note and the other loan documents, including all of the costs and expenses reasonably incurred by the investor in connection with collecting or attempting to collect any sums due.

The securities issued will be restricted.