FBEC Worldwide, Inc. (OTCPK:FBEC) announced a private placement of 8% convertible redeemable promissory note to new investor, Union Capital, LLC for gross proceeds of $50,000 on December 24, 2015. The note carries a fixed coupon of 8% per annum and would mature on December 24, 2017. The note is convertible into common shares of the company at a conversion price equal to 50% of the lowest trading price of the common shares.If the note is prepaid within 90 days of the issuance date, then at 130% of the face amount plus any accrued interest, if the note is prepaid after 90 days after the issuance date but less than 150 days after the issuance date, then at 140% of the face amount plus any accrued interest and if the note is prepaid after 150 days after the issuance date but less than 180 days after the issuance date, then at 150% of the face amount plus any accrued interest.

This Note may not be prepaid after the 6th month anniversary.