Greenfield Farms Food, Inc. (OTCPK:GRAS) announced that it has entered into a securities purchase agreement with existing investor Carebourn Capital, L.P. for the private placement of a convertible promissory note for gross proceeds of $1,436,128 on June 28, 2019. The note carries a fixed interest rate of 10% per annum and will mature on June 28, 2020. The interest payment of $143,613 are due on or before September 30, 2019, December 31, 2109, March 31, 2020 and June 28, 2010. The note can be converted into common shares of the company at any time beginning from October 1, 2019. The conversion price shall be equal to 58% of the lowest price of the company’s stock during the 30 trading days prior to the conversion date. The company paid $100,195 as transactional expenses and $33,007 as legal fee. The company received net proceeds of $1,302,926 in the transaction. The company issued securities pursuant to exemption provided under Regulation D.