Sionix Corp. (OTCBB:SINX) Announced a private placement of 6% convertible redeemable note for gross proceeds of $100,000 on September 21, 2012. The note will bear interest of 6% per annum and will mature on September 21, 2013. The company has an optional right of redemption prior to maturity upon a five-day notice and payment of a 50% premium on the unpaid principal amount of the loan. The company paid fees of $6,000 in connection with the funding of this loan. The conversion price for each share of common stock will be equal to 70% of the lowest closing bid price of the common stock for a period of five trading days but not lower than $0.001 per share. In addition, the company received a commitment in the form of a promissory note from the investor pursuant to which it will provide the company with funding of an additional $300,000 of which $100,000 will become available on each of July 1, 2103, August 15, 2013, and October 1, 2013. If the company is able to register the underlying shares of the note and the additional financing on or before December 5, 2012, then the applicable discount rate for all the notes will be reduced from 30% to 25%, and the interest rate charged will be reduced from 6% to 3%.

On the same day, the company issued the 6% convertible redeemable notes.