Amazing Energy Oil and Gas, Co. (OTCPK:AMAZ) announced that it has entered into loan agreement wherein it received $400,000 on August 20, 2019. The transaction included participation from Labrys Fund, LP, a fund managed by The EquiLux Group, LP. The loan will be issued at a discount of 10% and bears a rate of interest of 12% per annum. The loan will mature on February 20, 2020. The loan is convertible in whole or in part into shares of the company at a 50% discount to the market price of the company's common stock at any time prior to the maturity date. The company may pre pay the loan in full at any time prior to the maturity date so long as company is not in default under the terms of the loan. The company also issued 3,000,000 shares of its common shares as a commitment fee related to the loan. If the loan is paid off on or before the maturity date, 2,500,000 shares will be returned to the company and will be canceled.