Vegalab, Inc. (OTCPK:VEGL) announced a private placement of promissory note for gross proceeds of $500,000 on July 9, 2019. the note bears an interest of 6% per annum. Principal and interest on the Note shall be payable in equal monthly installments beginning April 1, 2020 and continuing until November 1, 2020. The note will be prepaid, in whole or in part, at any time at no penalty to the company.