Blue Water Global Group, Inc. (OTCBB:BLUU) announced a private placement of convertible promissory note with an existing investor, JMJ Financial, Inc. for gross proceeds of $75,000 on May 6, 2015. The note has issued at an original discount of 10%. The note will carry one time interest rate of 12%.

The note will be convertible into the common shares of the company at any time after 180 days from the date of announcement. The conversion price will be the lesser of $0.09 a share or 60% of the lowest trade price in the 25 trading days prior to the conversion. The company may repay a payment of amount at any time on or before 180 days after its announcement date in an amount equal to 135% of the sum of the principal sum being repaid plus all accrued and unpaid interest, liquidated damages, fees and other amounts due on such principal sum.

The company expected to receive $135,000 in the transaction.