ZaZa Energy Corporation (NasdaqCM:ZAZA) announced that it has entered into a securities purchase agreement for a private placement of series B convertible preferred stock for principal gross proceeds of $50,000 on October 16, 2015. The transaction included participation from returning accredited investor, Alpha Capital AG. The preferred stock will be convertible into 250,000 common shares at a ratio equal to approximately 5,000 common shares for each share of preferred stock.

The conversion price for the preferred stock shall equal $0.20, subject to adjustment. The company will issue securities pursuant to exemption provided under Regulation D. The agreement may be terminated by the purchaser by giving a written notice to the company. Each party to the transaction shall pay the fees and expenses of its advisors, counsel, accountants and other experts.