Diagnostic Imaging International Corp. (OTCPK:DIIG) announced that it has entered into an agreement for private placement of three 12% convertible series B promissory notes at a price of $50,000 per note for gross proceeds of $150,000 on March 27, 2013. The transaction included participation from accredited investors. The note bears an interest rate of 12% per annum payable at 1% per month and will mature on March 27, 2016. The notes are convertible into common shares of the company at $0.10 per share. The company issued securities pursuant to exemption provided under Regulation D. The company also issued 300,000 bonus common shares to the holders. The bonus shares are issued in the proportion of the investment made by each investor, for investment between $1 and $25,000, one share has been issued for each dollar invested, for investment between $25,001 and $75,000, two shares have been issued for each dollar invested, and for investment of $75,001 and above, three shares have been issued for each dollar invested. Andrew D. Hudders of Golenbock Eiseman Assor Bell & Peskoe LLP acted as legal counsel to the company. The company paid commissions of $4,500 as part of the transaction. The company intended to receive $300,000 in the transaction by issuance of six notes.

On March 27, 2013, Diagnostic Imaging International Corp. closed the transaction.