China Recycling Energy Corporation (NasdaqCM:CREG) announced that it has entered into a securities purchase agreement for a convertible promissory note in the principal amount of $1,050,000 on January 31, 2019. The purchase price of the note in the transaction is $1,000,000. The transaction involved participation from returning investor Iliad Research and Trading L.P. The note comes with an original issue discount of $50,000. The note will carry a coupon rate of 8% per annum and will mature on January 31, 2021. The notes are convertible into common shares at $0.001 per share. The notes issued are unsecured. The investor has the option to redeem the note at any time after the six month anniversary of the date after issuance. The securities were issued in the transaction pursuant to an exemption from registration under Regulation D.