Vapor Hub International Inc. (OTCPK:VHUB) announced that it has entered into a note purchase agreement for private placement of a promissory note for gross proceeds of $205,000 on August 12, 2015. The transaction included participation from new investor, Iliad Research & Trading, L.P. The convertible note is issued at an original issue discount of $40,000. The company will pay $5,000 for investor's legal fees, accounting costs, due diligence, monitoring and other transaction costs.

The note will mature on February 12, 2016. The company may prepay all or a portion of the amount owed earlier than it is due without penalty and if the company prepays $225,000 on or before November 9, 2015. The note will bear a fixed interest rate of 18% per annum.

The company extended the maturity date to to April 12, 2016 and increases the principal amount of the note by $2,500.