CN Energy Group. Inc. announced that it has entered into a securities purchase agreement with Streeterville Capital, LLC for a private placement of an unsecured convertible promissory note for proceeds of $3,020,000 on December 30, 2022. The original principal amount of the note is $3,230,000.00.

The note is convertible into Class A ordinary shares, no par value, of the company at $2 per share. The Note bears interest at a rate of 7% per annum. The note includes an original issue discount of $210,000.

The company paid $20,000 for the Investor's legal fees, accounting costs, due diligence, monitoring, and other transaction costs incurred in the transaction.