IL2M International Corp (OTCPK:ILIM) announced a private placement of 8% convertible promissory note with new investor, KBM Worldwide, Inc. for gross proceeds of $37,500 on May 2, 2014. The note will bear an interest at the rate of 8% per annum from the issue date until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise and will mature on February 7, 2015. Any amount of principal or interest on this note which is not paid when due shall bear interest at the rate of 22% per annum. The note is convertible into shares of the company at any time during the period beginning on the date which is 180 days following the date of this note and ending on the later of the maturity date and the date of payment of the default amount. The note will be convertible at a price of 58% multiplied by the market price representing a discount of 42%, where market price means the average of the lowest three trading price for the common stock during the ten trading day period prior to the conversion date. Owen Naccarato from Naccarato & Associates served as legal advisor to the company. Judah A. Eisner from Naidich Wunnan Birnbaum & Maday, LLP served as a legal advisor to the investor. The notes are issed at par.

On May 2, 2014, IL2M International Corp closed the transaction.