Cirque Energy, Inc. (OTCPK:EWRL) announced that it has entered into a securities purchase agreement for a private placement of 9% convertible redeemable note with existing accredited investor, Union Capital, LLC for gross proceeds of $34,188.50 on June 27, 2014. The note will bear fixed interest at 9% per annum and will be payable on the maturity date and the note will mature on June 27, 2015. The note will be redeemable by the company during the six months beginning June 27, 2014 at a premium calculated based on the number of days from June 27, 2014 through the date on which the redemption occurs. The note will be convertible at the option of the investor into common shares of the company at a variable conversion price equal to 55% of the lowest closing bid price of the company's common shares on the OTCQB for the ten prior trading days preceding the date of conversion notice received by the company. The note also provides for penalties and rescission rights if the company does not deliver common shares upon conversion within the required timeframes. The securities will be issued pursuant to exemption provided under Regulation D. The company will reimburse investor's expenses of $4,188.50 for legal fees.

On June 27, 2014, Cirque Energy, Inc. closed the transaction.