Lot78, Inc. (OTCPK:LOTE) announced a private placement of an unsecured senior convertible promissory note for gross proceeds of $350,000 on August 30, 2013. The transaction included participation from Banque Bénédict Hentsch & Cie SA. The note issued will carry 10% simple interest payable per annum. The note will mature on September 1, 2016. The note issued will convert into the common shares of the company at $0.125 per share.

On August 30, 2013, Lot78, Inc. closed the transaction.