Panacea exchanges 350 Series A shares for $385K convertible note & warrants

PANACEA LIFE SCIENCES HOLDINGS, INC.

Issued $385K 10% OID senior convertible note due March 2023, convertible at $1.40/sh.
Issued five-year warrants to purchase 275,000 shares at $1.40/sh, exercisable from May 18, 2022.
Note and warrants issued in exchange for 350 shares of 0% Series A Convertible Preferred Stock under MFN rights.
Note has 18% default interest, 125% redemption premium, and conversion adjustments including Qualified Offering.
Registration rights agreement subordinated to prior November 2021 private placement investor's rights.

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