OneRoof Energy, Inc., a residential solar services provider and wholly owned subsidiary of OneRoof Energy Group, Inc. announced that the company and OneRoof Energy have agreed to a financing of secured non-convertible notes with Black Coral Capital, LLC. Black Coral initially purchased $3,000,000 in principal amount of Notes, and the parties contemplate total funding of Notes in the amount of $4,500,000, funded in tranches. The Notes are secured by the assets of the Company that are not otherwise pledged under project financings.

The Available Assets are already pledged as security under the Company's senior credit agreement with North Sky Alliance Fund and NewWorld Environmental Infrastructure L.P., as well as the Company's subordinated convertible notes. The Notes are subject to substantially the same terms and conditions as the Company's outstanding subordinated convertible notes, with the following differences: (1) the Notes are not convertible into equity; (2) the Notes bear interest at a rate of 16% per annum compounded monthly; and (3) any voluntary prepayment of any installment of the Notes requires the payment of a penalty equal to one-ninth (1/9) of the principal amount of the installment of the Loan, but no prepayment is required by the Notes or permitted by the senior credit agreement. The Notes are secured on the Available Assets under an amended and restated security and pledge agreement dated October 21, 2013, as amended, between OneRoof Energy, the Company and OneRoof Energy's existing investors.

Amounts outstanding at maturity will be repaid in cash generated from operations or through refinancing, depending on the terms available at the end of the term of the Notes.