Pledge Petroleum Corp announced that it has entered into a securities purchase agreement with Geneva Roth Remark Holdings. to purchase a convertible promissory note in the aggregate principal amount of $53,000 on June 11, 2019. The note matures on June 11, 2020, the company has agreed to pay interest on the unpaid principal balance of the Note at the rat of 10%) per annum from the date on which the Note is issued until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The company has the right to pre pay the note. Under the agreement, the investor may convert the outstanding principal of the note into shares of common stock, during the period beginning on the date that is 180 days following the issue date with a par value of $0.001 per share. In case of default, the note shall become due and payable and the company will pay to the investor, in full satisfaction of its obligations, additional amounts as given in the note. The company will issue securities pursuant to exemption provided under regulation D.