Cerebain Biotech Corp.(OTCBB:CBBT) announced that it has entered into an agreement for a private placement of up to 240,000 shares at $1.25 per share for gross proceeds of up to $300,000 with GMEA on June 8, 2015. The company also issued a warrant to purchase common share of the company at an exercise price of $2.50 per share. The number of shares underlying the warrant will be equal to one share per $1.25 of the purchase price.

The company expected to issue 1,600,000 shares for gross proceeds of up to $2,000,000.