SurePure, Inc. (OTCPK:SURP) announced that it has entered into a securities purchase agreement for a private placement of 1 convertible debentures at $112,500 per debenture for gross proceeds of $337,500 on June 23, 2014. The transaction included sole participation from sole new accredited investor Peak One Opportunity Fund, L.P., a fund managed by Peak One Investments, LLC. Each debenture have a face value of $125,000 and were issued at a discount of $12,500 each. The debentures do not bear any interest and will mature after three years from the date of issue. The debentures are convertible into shares of common stock at a variable conversion price per share equivalent to 65% of the lowest closing bid price for common stock during the previous 20 trading days. If the conversion does not occur, the debentures will automatically convert at such conversion rate on the debentures' respective maturity dates. The company may prepay the debentures at a premium. The debenture issued in this tranche will mature on June 23, 2017.

As part of the transaction, the company will pay to the investor a non-accountable fee of $5,000 and issue 75,000 shares of restricted stock as commitment fees; and the company will pay legal fees of the investor's counsel in the amount of $5,000. Rosen Seymour Shapss Martin & Company LLP will act as the accountant for the company. William A. Newman of Barton LLP will act as a legal advisor to the company. Seth Brookman of Lucosky Brookman LLP and Patrick G. Zabatta of Zabatta Group, LLP will act as the legal advisors to the investor. The debentures were issued pursuant to an exemption provided under Regulation D.