ABCO Energy, Inc. (OTCPK:ABCE) announced that it has entered into a securities purchase agreement for a private placement of convertible promissory note with returning investor Oasis Capital, LLC for a gross proceeds of $184,000 on January 21, 2020. The company will issue convertible notes of principal amount of $208,000 at a discount of $16,000 and expenses of $8,000. The note shall bear a coupon rate of 8% per annum. The company will receive funding in two further tranches, which are expected to occur each on February 1, 2020 and March 1, 2020. The second tranche shall have a purchase price of $70,000.00 and comprise $76,087 of the note and the third tranche shall have a purchase price of $80,000.00 and comprise $86,956 of the note. The maturity date for each tranche shall be nine months from the effective date of each payment. The note becomes convertible into common stock six months after the effective date at a 35% discount to market. The company also agreed to issue to the investor 5,000,000 shares of common stock as an incentive/commitment fee in connection with the transactions. The promissory notes shall be converted into common shares at a conversion price of lesser of $0.005, and 65% multiplied by the lowest trading price during the thirty trading day period ending, in holders’ sole discretion on each conversion, on either the last complete trading day prior to the conversion date or on the conversion date. On the same date, ABCO Energy, Inc. (OTCPK:ABCE) has closed the transaction. The company has received $34,000, having a principal amount of $44,757.