Tribal Rides International Corp. announced that it has entered into a purchase agreement with AJB Capital Investments LLC for convertible promissory note for gross proceeds of $261,000 and 1,320,000 common shares at a price of $0.25 per share for gross proceeds of $330,000; for aggregate proceeds of $591,000 on November 10, 2021. The company also issued warrants to purchase 750,000 shares of the company?s common stock. Each warrant is immediately exercisable at $1.00 per share and expires three years from the issuance date. The Note matures on May 10, 2022, subject to a six-month extension at the Company?s request. The note accrues interest at 10% per annum from the issuance date and monthly interest payments are due at the beginning of each month. In the event the note is extended for six months, the interest will accrue at 12% per annum and, in the event of a default, interest will accrue at 20% per annum. The note is only convertible upon an event of default and is then convertible, in whole or in part, into shares of the company?s common stock at a conversion price equal to the lesser of 90% (representing a 10% discount) multiplied by the lowest trading price during the previous 20 trading day period ending on the issuance date, or during the previous 20 trading day period ending on date of conversion of this note. The Conversion Price is subject to various adjustments. The note carries an original issue discount of $29,000.