JPX Global, Inc. (OTCPK:JPEX) announced that it has entered into a securities purchase agreement with an accredited investor, Auctus Private Equity Management, Inc. for private placement of a convertible promissory note for gross proceeds of $166,000 on July 22, 2016. The note was issued at par. The note bears a fixed interest rate of 10% per annum and will mature on April 22, 2017. The note, together with all interest as accrued, is convertible into shares of the Company’s common stock at a 45% discount to the lowest trading price in the previous 25 days. The note may be prepaid at 125% between the period starting on issue date and ending on 30 days from the date of issue, at 130% between the period starting on 31st day and ending on 60th day from the day of issue, at 135% between the period starting on 61st day and ending on 90th day from the date of issue, at 140% between the period starting on 91st day and ending on 120th day from the date of issue, at 145% between the period starting on 121st day and ending on 150th day from the date of issue, and at 150% between the period starting on 151st day and ending on 180th day from the date of issue. After 180 days the note may not be prepaid. The amount due and payable under the note may be increased to 150% of the principal amount of the note, plus default interest as accrued thereon, in the event of default. The note will bear a fixed interest rate of 24% per annum in the event of default. The company will issue securities pursuant to exemption provided under Regulation D. The company reimbursed investor’s legal expenses in the amount of $2,750 plus the cost of wire fees.