Annidis Corporation (TSXV:RHA) announced a private placement of a convertible promissory note for gross proceeds of CAD 150,000 on March 17, 2016. The note carries a fixed coupon of 10% per annum and would on March 17, 2017. The note is convertible common shares of the company at an exercise price of CAD 0.055 per share; it would receive 2,727,273 common shares, representing approximately 2.53% of the outstanding common shares of the corporation.

The transaction included participation from existing investor Yimai Technology International Corporation. The company may prepay the outstanding principal amount of the note together with all accrued and unpaid interest, without penalty, at any time prior to the maturity date of the note. The transaction is subject to the TSX Venture Exchange acceptance.

All securities issued by the company in connection with the transaction will be subject to a statutory four month hold period. TSX Venture Exchange has accepted for filing documentation with respect to the transaction.