Oro East Mining, Inc. (OTCBB:OROE) announced a private placement of a promissory note for gross proceeds of $100,000 on December 22, 2014. The note will be issued to a Chinese foreign investor lender. The note carries a fixed interest rate of 12% per annum on the unpaid principal, calculated yearly and not in advance.

The company will pay interest accrued in full on or before June 21, 2015 without pre-payment penalty. The default and the acceleration of the amount due by the lender all amounts outstanding under this note will bear interest at the rate of 18% per annum from the date of demand until paid.