Premier Biomedical, Inc. (OTCPK:BIEI) announced that it has entered into a subscription agreement with existing investor, PowerUp Lending Group, Ltd. on August 2, 2019. The company will issue a convertible promissory note at a price of $38,000 per note for gross proceeds of $38,000. The note carries a fixed coupon of 10% and a default interest rate of 22%. The note would mature on August 2, 2020. The note is convertible into common stock at a conversion price of equal to 61% of the average of the lowest two trading prices during the last twenty trading days prior to the conversion date. The notes can be pre-paid at any time with a prepayment percentage that ranges from 115% to 140% depending on the time when it is prepaid. The note will be issued pursuant to exemption provided under the Section 4(a)(2) of the Securities Act of 1933 and Regulation D.