Healthier Choices Management Corp. announced that it has entered into securities purchase agreement to issue 14,722.075 series E redeemable convertible preferred stock at issue price of $900 per share for an aggregate gross proceeds of $13,250,000 on August 18, 2022. The transaction will include participation from five institutional investors.

The preferred shares are convertible into 147,220,750,000 common shares at a conversion price of $0.0001 per share. The transaction is expected to close on August 19, 2022. The preferred shares are redeemable either six months after closing or the time at which the balance is due and payable upon an event of default.

The securities are issued pursuant to provisions of section 4(a)(2) of the Securities Act of 1933 and Rule 506(b) of Regulation D.