Integral Technologies, Inc. (OTCPK:ITKG) announced that it has entered into securities purchase agreement with PowerUp Lending Group, Ltd. for a best-efforts private placement of a convertible note for gross proceeds of $35,000 on February 9, 2017. The convertible note will carry an interest rate of 12% and will mature November 20, 2017. The note can be converted into common stock at the option of the holder at any time after 180 days following the date of issuance. The note have a conversion price equal to 63% of the average of the lowest three trading prices for the company’s common stock during the ten-day trading period ending one trading day prior to the date of conversion notice with a limitation of 4.99% of the issued and outstanding common stock at the time of conversion. Any amount of principal that is not paid when due bears interest at a rate of 22% per annum. The convertible debentures may be prepaid by the company at premiums in-between 115% to 140%, in-between 30 days to 180 days from issuance. The company will issue the securities pursuant to exemption from registration under Rule 506 of Regulation D.