XFit Brands, Inc. (OTCBB:XFTB) announced that it has entered into a securities purchase agreement with General Capital Partners, LLC for private placement of promissory note for gross proceeds of $150,000 on September 7, 2017. The principal amount of the note shall be payable, together with accrued and unpaid interest thereon, on June 30, 2018. The principal amount of the note shall bear interest at a rate of 10% per annum, which shall be payable on the maturity date. Interest shall be calculated on the basis of a 365/366-day year for the actual number of days elapsed. The note may be prepaid in whole or in part at any time and from time to time without premium or penalty. All money paid toward the satisfaction of the note shall be applied first to the payment of accrued and unpaid interest and then to the retirement of the principal.