VPR Brands, LP announced private placement of an unsecured promissory note for gross proceeds of $100,001 on July 12, 2021. The transaction will involve participation from existing investors Kevin Frija, Chief Executive Officer, President, Principal Financial Officer, Principal Accounting Officer and Chairman of the board, and a significant stockholder of the company. The note bears interest at the rate of 24% per annum, computed on the basis of a 365-day year and the actual number of days elapsed. The note permits investor to deduct one ACH payment from its bank account in the amount of $500 per business day until such time the borrower has paid an amount equal to the principal amount due and accrued interest is repaid. Any unpaid principal amount and any accrued interest is due on July 12, 2022. The note can be prepaid anytime.