Press Ventures, Inc. (OTCBB:PVEN) announced a private placement of one convertible promissory note at $250,000 per note for gross proceeds of $250,000 on August 27, 2013. The round included participation from a foreign institutional investor. The note bears an interest of 10% and will mature on August 29, 2016.

The note will be convertible at the lower of $0.25 per share, or 25% discount to the average closing price during the five day trading period immediately prior to the conversion date. No brokers will participate in the transaction. All securities were issued pursuant to exemptions provided under Regulation D and/or Regulation S.