Soul and Vibe Interactive Inc. (OTCPK:SOUL) announced a private placement of a 8% convertible redeemable promissory note for principal gross proceeds of $27,500 on May 6, 2016. The transaction will include participation from existing accredited investor, GW Holdings Group, LLC. The note bears a fixed interest rate of 8% per year. The maturity date is May 6, 2017. The note is convertible into common stock at a conversion price of $0.02990 per share.