Cirque Energy, Inc. (OTCPK:EWRL) announced a private placement of a 9% convertible redeemable note with a new accredited investor, Union Capital, LLC for gross proceeds of $100,000 on April 3, 2014. The company has signed the securities purchase agreement with the investor. The note will carry a fixed interest rate of 9% per annum and will mature on April 3, 2015. The note has been issued at par. All interest and principal is payable on the maturity date, unless earlier converted. The note will be convertible into the common shares of the company, in whole or in part, at investor's option at a variable conversion price equal to 55% of the lowest closing bid price of the common stock on the stock exchange for the 10 prior trading days preceding the date of notice of conversion. The note is redeemable by the company during the six months beginning April 3, 2014 at a premium calculated based on the number of days from April 3, 2014 through the date on which the redemption occurs. The company issued securities pursuant to exemption provided under Regulation D. The company shall reimburse the investor's expenses in the amount of $3,000 for legal fees.

On April 3, 2014, Cirque Energy, Inc. closed the transaction.