Wisdom Homes of America, Inc. (OTCPK:WOFA) announced that it has entered into securities purchase agreement for private placement of 8% convertible promissory note with an accredited and sophisticated investor, Oakmore Opportunity Fund I LP for gross proceeds of $40,000 on June 23, 2015. The note will be issued at its principal value. The company will issue security pursuant to exemption provided under Regulation D. The note will mature on June 23, 2016.

The note is convertible after 180 days into common shares at a 42% discount from the average of the three lowest trading prices of common stock, as reported by any exchange upon which our common stock is then traded, for the 10 trading days prior to receipt of notice from the note holder to exercise this conversion feature. The conversion price shall be subject to a minimum conversion price of $0.00005 per share, but in the event that common stock becomes chilled by the Deposit Trust Corporation, the conversion discount shall increase from 42% to 52%for as long as common stock is chilled, calculated against the minimum conversion price. The note can be prepaid by the company at a premium of 130% of the principal amount between 0 and 90 days after issuance, at 135% of the principal amount between 91 and 120 days after issuance, at 140% of the principal amount between 121 and 180 days after issuance.

There note cannot be prepaid after 180 days. The transaction is expected to close on June 23, 2015.