Zero Gravity Solutions, Inc. (OTCPK:ZGSI) announced a private placement of an unsecured promissory note with existing investor Rio Vista Investments, LLC on January 16, 2018. The note will be issued at its par value. The company will also issue a five year warrant to subscribe up to 50,000 shares at an exercise price of $3 per share. The company will repay the principal amount of note along with unpaid interest by October 26, 2019. The transaction included participation from an accredited investor. The note issued has a fixed interest rate of 10% per annum which will be paid quarterly in cash. The company may make all unpaid principal and interest prior to the maturity date, without penalty or premium.