XSport Global, Inc. (OTCPK:XSPT) announced that it has entered into a securities purchase agreement with an accredited investor for private placement of a 8% convertible redeemable promissory note for gross proceeds of $48,000 on June 6, 2019. The note bears an issuance discount. The note will mature on June 6, 2020. The note is convertible into common shares of the company any date after issuance, after which the note may be converted into common share at a 40% discount to the lowest trading price of the share during the 20 trading days prior to the date of the conversion notice. Such conversion is subject to certain additional terms and conditions, including a waivable limitation on the note holder’s ability to convert the note into an amount of common stock that would result in the note holder, together with its affiliates, owning more than 4.9% of the outstanding common stock. The note holder may waive that provision and increase its amount of ownership up to 9.99% of the common stock. The note may be prepaid in full on any day on or prior to December 3, 2019, but is subject to prepayment premiums that increase over time. The conversion price shall be variable conversion price. The company will pay legal fees and due diligence fee of $3,000 at the time of closing. The company has issued securities pursuant to exemption provided under Regulation D.