Notis Global, Inc. (OTCPK:MDBX) announced that it has entered into a securities purchase agreement for a private placement of convertible promissory note for gross proceeds of $1,130,000 on May 20, 2016. The promissory note will issue an original issue discount of $112,500. The notes carry a fixed interest rate of 10% per annum and would mature July 20, 2017. The notes are convertible into common shares of the company equals the amount being converted divided by 50% multiplied by the lowest daily volume weighted average price of the common shares in the 20 trading days immediately preceding the applicable conversion. The company will pay legal fees of $5,000 in the transaction.