Avalanche International, Corp. (OTCPK:AVLP) announced that it has entered into a securities purchase agreement to issue an 8% convertible redeemable promissory note for gross proceeds of $115,000 on May 11, 2015. The note bears a fixed interest rate of 8% per annum and interest coming due on May 11, 2016.

The note is convertible in whole or in part in the shares of the company, at the option of the holders. The conversion price is 60% of the lowest reported trading price of our common stock during the twenty trading days prior to and including the conversion date. The company incurred $5,000 as legal and $10,000 as due diligence fees expenses.