BlackStar Enterprise Group, Inc. announced that it has entered into a securities purchase agreement for a private placement of a convertible promissory note for gross proceeds of $103,750 on July 26, 2021. The transaction will include participation from PowerUp Lending Group, Ltd. The note bears an interest rate of 10%. The note has a maturity date of July 26, 2022. The note will convert into common shares at a discount of 35% of the market price. The note will additionally bear an interest rate of 22% per annum in the event of default. The company may prepay the note in whole or in part at any time, up to 180 days after the issue date, by paying the principal amount to be prepaid together with premium interest thereon to the date of prepayment which is 120% for 1-60 days, 125% for 61-90 days, 130% for 91-120 day, 135% for 121-150 days, and 139% for 151-180 days.