Sylios Corp (OTCPK:UNGS) announced that it has entered into a securities purchase agreement with existing investors BHP Capital NY, Inc. and Fourth Man, LLC for private placement of two convertible promissory notes at a price of $12,500 per note for gross proceeds of $25,000 on October 16, 2019. The notes carry a principal amount of $13,750 per note and were issued at discount. The notes will mature on October 16, 2020 and bears interest of 8% per annum. The company also issued 761,958 warrants to each investor exercisable at $0.024 per share for a period of 5 years. The notes are convertible into common shares at a price representing 60% of the lowest trading price during the 20 trading days prior to conversion. The company issued securities pursuant to exemption provided under Regulation D.