Alpha Energy, Inc. announced a private placement of 7.25% Senior Secured Convertible Notes due Feb 25, 2024 for gross proceeds of $5,000,000 on February 25, 2022. The transaction included participation from Leaver Jay. The Senior Convertible Note is convertible at any time after the date of issuance into shares of the Company's common stock at a conversion price of $5.00 per share.

Upon conversion of the convertible note into the Company's common stock, the noteholder would be issued 1,000,000 shares of the Company's common stock. Interest on the Convertible Note shall be paid to the investors at a rate of 7.25% per annum, paid on a quarterly basis, and the maturity date of the Convertible Note is two years after the issuance date.