Pharmagreen issues $50K convertible note at 42.5% discount; hires Tyrell Crosby for 10M shares

Pharmagreen Biotech Inc.

Convertible promissory note: $50,000 principal, 10% interest, due May 1, 2023; conversion price is 57.5% of average 3 lowest trading prices (42.5% discount).
Note issued to accredited investor JanBella Group LLC under Regulation D; company may prepay at 125% within 120 days, no prepayment after.
Product endorsement agreement with NFL player Tyrell Crosby: receives 10M common shares for 1.5-year term as brand ambassador for NutraMax Genomic Supplement.
Crosby also entitled to $1,000 per day plus travel expenses for appearances at company events or shows.
Company had approximately 444.8M shares outstanding prior to these issuances; potential dilution from note conversion and share issuance.

item 1.01 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Pharmagreen Biotech Inc. entered into Securities Purchase Agreement with JanBella Group, LLC. valued at $50,000.

Action: entry
Agreement: equity purchase
Counterparty: JanBella Group, LLC.
Value: $50,000

Exact text from the filing

Pharmagreen Biotech, Inc., a (“NV”) corporation (the “Company”) and JanBella Group, LLC. (the “Investor”) have entered into a Securities Purchase Agreement dated as of November 2nd, 2022 (the “Agreement”) providing for the issuance of the Convertible Promissory Note in the principal amount of $50,000

View on SEC.gov

Browse all material agreements →

Pharmagreen Biotech Inc. filing history →

Source: SEC EDGAR

accession 0001477932-22-009028

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.