Generation Alpha, Inc. (OTCPK:GNAL) announced that it has entered into a securities purchase agreement with existing investor, YA II PN, LTD., a fund managed by Yorkville Advisors Global LP to issue secured convertible debentures for gross proceeds of $350,000 on September 23, 2020. The company also issued a warrant, convertible into 7,000,000 shares at an exercise price of $0.05 per share expiring on September 23, 2025. The debentures will mature on March 23, 2021 and carry rate of interest of 10% per annum. The rate of interest shall be 15% per annum in the event of default. The debentures shall be convertible into common shares at a conversion price equal to 75% of the lowest VWAP of the company. The note provides the company with a redemption right, pursuant to which the company, upon 10 days’ prior notice to the Investor, may redeem. The securities are issued pursuant to exemption provided under regulation D. The company shall incur $10,000 as a due diligence and structuring fee to YA Global II SPV, LLC. The company may redeem in whole or part the outstanding principal and interest under the debentures.