Algae Dynamics Corp. (OTCPK:ADYN.F) announced that it has entered into a securities purchase agreement for a private placement of a senior convertible note for gross proceeds of CAD 100,000, with Dax Sukhraj on October 19, 2018. The note matures on July 19, 2021 and accrues interest at the rate of 10% per annum which shall be payable on the maturity date or included in the conversion amount of the note prior to such date. The note is convertible at any time after issuance, in whole or in part, at the investor’s option into common shares of the company’s capital stock at a variable conversion price equal to CAD 0.25 on the conversion date.