Renavotio, Inc. (OTCPK:RIII) announced a private placement of convertible promissory notes for an aggregate gross proceeds of $112,500 on October 28, 2020. The company has entered into note purchase agreement with the investor. The transaction included participation from Quick Capital, LLC. The notes are issued at original issue discount of 10% per annum. The notes carry fixed rate of interest of 10% per annum and will mature at a date nine months from the issue date. The notes are convertible into common shares of the company at a fixed conversion price of $0.12 per share. The company will incur issuance expense of $2,500 in the transaction as offset and legal costs. The note may be prepaid in whole or in part.