Invent Ventures, Inc. (OTCPK:IDEA) announced a private placement of a promissory note for gross proceeds of $110,000 on January 14, 2013. The transaction saw participation from Threshold Financial, LLC. The company also issued a warrant to purchase common shares for gross proceeds of $100,000. The note is due on the earlier of January 14, 2014 or the receipt of no less than $2,000,000 in funding from any private placement of equity securities. The notes carry an interest rate of 7% per annum during the first six months and 12% per annum for the remaining six months until the note is due. The warrants are exercisable at $0.50 for three years from the date of issuance.

On January 14, 2013, Invent Ventures, Inc. closed the transaction.