Breathe eCig Corp. (OTCPK:BVAP) announced a private placement of an unsecured promissory note for gross proceeds of $50,000 on October 20, 2015. The transaction included participation from new investor Peter Comito Family Trust.

The note carries a fixed coupon of 4.5% per annum; unless there is an event of default, in which case the interest rate increases to 9% per annum. The entire principal amount and all accrued but unpaid interest will be due and payable by the company no later than April 20, 2016.