Eventure Interactive, Inc. (OTCBB:EVTI) announced that it has entered into securities purchase agreement for private placement of an 8% convertible promissory note at a price of $125,000 with existing investor, SBI Investments LLC, a fund managed by Sea Otter Global Ventures for gross proceeds of $125,000 on June 26, 2015. The notes are being issued at par. The note will mature on June 26, 2016 and will bear interest at a rate of 8% per annum.

The investor is entitled to convert the note into common shares at a price of 50% of the lowest closing price of the common stock as reported on the OTCQB for the 20 prior trading days. The company did not make any underwriting discounts. The company paid $10,000 in legal fees which shall be deducted from the proceeds received from issuance of note.