Cerebain Biotech Corp. (OTCPK:CBBT) announced a private placement of 80,000 shares at a price of $1.25 per share for gross proceeds of $1,000,000 on June 29, 2017. The transaction will include participation from accredited and sophisticated non-affiliate investor pursuant to an existing stock purchase agreement. The company will also issue 80,000 warrants to acquire 80,000 shares of common stock at $2.50 per share. The company will issue securities pursuant to exemption provided under Section 4(a)(2) of the Securities Act of 1933. On the same day, the company received $50,000 in its first tranche.