Drone Guarder, Inc. (OTCPK:DRNG) announced a private placement of a security purchase agreement for a private placement of a $445,000 convertible promissory note with new investor Chicago Venture Partners, L.P. for gross proceeds of $405,000 on October 17, 2017. The note carries a coupon of 10% per annum and would mature in nine months from the date of closing. The note is convertible into $0.001 par value common shares of the company a convertible price of exercise price of $0.25 per share. The note is unsecured. The note will be issued at an original issue discount of $40,000, for gross proceeds of $445,000. The company will also issue a warrant to purchase common shares equal to $222,500 divided by the market price for a period of 60 months from the date of closing. The company will pay $5,000 to Investor to cover legal fees, accounting costs, due diligence, monitoring and other transaction costs incurred in the transaction. The transaction is expected to complete in five tranches including a first tranche for $205,000, and four equal tranches of $50,000 each.