Pure Harvest Corporate Group, Inc. (OTCPK:PHCG) announced a private placement of a promissory note for gross proceeds of $500,000 on November 22, 2020. The transaction included participation from a sophisticated investor. The note bears interest at 8% per year and is due and payable on January 31, 2021. The note is convertible at the option of the investor. The note principal and any accrued interest may be converted into the common shares of the company. The number of common stock which will be issued upon any conversion will be determined by dividing the amount to be converted by the lesser of $0.50 or 75% of the ten day average closing price of the company's common stock immediately prior to the date of conversion. The note has been issued under the exemption provided by Section 4(a)(2) of the Securities Act of 1933. There was no general solicitation in connection with the issuance of the note. No commission was paid to any person in connection with issuance of the note.