OneRoof Energy Group, Inc. (TSXV:ON) entered into non-binding term sheet with returning investor, Black Coral Capital for private placement of secured convertible promissory notes for gross proceeds proceeds of CAD 15,000,000 on November 24, 2014. The convertible notes will bear interest at up to 10% per annum. The notes will mature, if not earlier converted, into common shares on the 12-month anniversary of their initial issuance. The convertible notes would be secured on the company's assets and would be convertible into the common shares of the company at a 20% discount to the market price as of the date the transaction. The transaction is subject to TSXV approval and other conditions precedent.

On January 16, 2015, the company announced that the transaction will also include participation from returning investor, Spindrift Equities, LLC along with certain other unaffiliated investors. The convertible notes will have a conversion price of CAD 0.71 per share. The closing of the transaction is subject to the execution of final documentation.

On March 13, 2015, the company announced that Spindrift Equities, LLC will invest approximately $2,000,000 (CAD 2,542,000). The terms of the note permit the investor to convert up to $400,000 (CAD 508,400) of the principal amount outstanding from time to time into common shares of the company at a price of CAD 0.135 per common share. The notes issued will mature on April 15, 2015. The conversion was made through www.oanda.com on March 13, 2015.

On March 18, 2015, the company raised CAD 2 million from Spindrift Equities, LLC in its first tranche.

On April 23, 2015, the company announced that TSX Venture Exchange has accepted the filing documentation with respect to the first tranche of the transaction.

On May 11, 2015, OneRoof Energy Group, Inc. closed the transaction. The company raised CAD 13,555,999 in its second tranche .