FBEC Worldwide, Inc. (OTCPK:FBEC) announced a private placement of a convertible promissory note for gross proceeds of $60,300 on December 20, 2016. The note carries a principal value of $90,000 and will be issued at a original issue discount of $29,700. The transaction included participation from L2 Capital, LLC. The note is convertible at a 40% discount to the lowest intraday trading price within the twenty trading days prior to a conversion notice being submitted to the company’s transfer agent. The note will mature at six months from the date of issue.