Cirque Energy, Inc. (OTCPK:EWRL) announced a private placement of a 10% secured convertible promissory note for gross proceeds of $502,500 on February 13, 2014. The transaction included participation from new investor, Typenex Co-Investment, LLC. The note carries the amount to cover the investor's legal fees, accounting costs, due diligence, monitoring and other transaction costs incurred in connection with the purchase and sale of the securities, $2,500 of which has been previously paid to the and the remaining $2,500 of which is included in the initial principal balance of the note. The note will mature after 15 months from the date of issue. The note has a principle amount of $552,500 which has been issued at an original discount of $50,000 and includes $2,500 for the legal expenses of the investor. The note can be prepaid without penalty at any time prior to maturity. The note will carry an interest rate of 10% per annum. All interest and principal is payable, commencing six months from the date of issue, in installment amounts consisting of principal in the amount of $55,250, plus accrued but unpaid interest, and continuing on a monthly basis thereafter unless earlier converted, in whole or in part, at the company's option. The note is convertible into common stock, at investor's option, at a price of $0.025 per share after six months from the date of issue. The conversion of notes and warrants will be limited so that such conversion or exercise does not exceed 4.99% of the then issued and outstanding shares of common stock. In the event of the prepayment of the note, the company will have to pay 125% multiplied by the sum of all principal, interest and any other amounts owing. The company also issued 5,000,000 warrants exercisable at $0.05 per warrant for a period of five years commencing on the date which is starting six months after the date of issue. The investor has paid $150,000 in cash and $350,000 by the issuance of seven secured promissory notes bearing interest at the rate of 8% per annum, with each such note maturing after 15 months from the date of issue. The company issued securities pursuant to exemption provided under Regulation D. Marc Ross of Sichenzia Ross Friedman Ference LLP acted as a legal advisor to the company and Jonathan K. Hansen of Hansen Black Anderson Ashcraft PLLC acted as a legal advisor to the investor.

On February 13, 2014, Cirque Energy, Inc. closed the transaction.