Cerebain Biotech Corp. (OTCPK:CBBT) announced that it has entered into a securities purchase agreement with Auctus Fund, LLC, a fund managed by Auctus Fund Management, LLC for a private placement of convertible promissory note for gross proceeds of $110,000 on March 15, 2019. The note bears a fixed interest of 12% per annum. The note is convertible into $0.001 par value common shares of the company at the price per share equal to 55% of the lowest trading price of the common stock during the 25 trading days period ending on the last complete trading day prior to the date of conversion. The transaction will take place in multiple tranches. The first tranche will be equal to $55,000. The company will also issue warrant in the transaction. The warrant cane be converted into 1,100,000 common shares of the company at an exercise price of $0.05 per share.