Healthy Extracts entered into a Securities Purchase Agreement and issued a $258,750 one-year convertible promissory note to Labrys Fund II, carrying 10% interest earned upfront and a $33,750 original issue discount. The company received approximately $225,000 in net proceeds, minus expenses. The note is non-prepayable without holder consent and becomes convertible after 180 days at the lesser of $2.00 per share or 75% of the lowest closing bid over the prior 15 trading days. Monthly amortization payments of $36,964.28 begin January 18, 2027 for six months unless converted earlier.
Agreement details:
- Agreement type: Securities Purchase Agreement and one-year convertible promissory note
- Counterparty: Labrys Fund II
- Signed / Effective: Jul 17 2026 / same
- Duration / Termination: 1 year
- Reason: Enhance liquidity and working capital flexibility
Original SEC Filing:
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