The Guitammer Company Inc. (OTCPK:GTMM) announced a private placement of 50,000 series A preferred shares at $10 per share for gross proceeds of $500,000 on May 6, 2015. The transaction included participation from three existing accredited investors. The company issued securities pursuant to exemption provided under Regulation D. The preferred shares will pay dividend of $0.008 per share per annum and each preferred shares is convertible into 66.67 common shares.

The dividend will be payable on April 30 of each year commencing on April 30, 2016 payable in cash or shares.