International Land Alliance, Inc. announced that it has entered into a securities purchase agreement with new investor Six-Twenty Capital Management LLC to issue Series D Convertible Preferred Stock at a stated value of $100 for the gross proceeds of $1,700,000 on November 8, 2023. The shares have no stated maturity date, and are convertible at any time 18 months after issuance and subject to a mandatory partial redemption equal to 110% of the stated value. The Series D Preferred Stock will rank senior with respect to the preferences as to dividends, distributions and payments upon the liquidation, dissolution and winding up of the company.

Holders of shares of the Series D Preferred Stock are entitled to receive, on each dividend payment date, cumulative cash dividends on each share of Series D Preferred Stock, payable to the holders, on a quarterly basis, at a rate of 12% per annum of the stated value, plus the additional amount thereon, and dividends in the form of shares of common stock on each share of Series D Preferred Stock, on a quarterly basis, at a rate of 8% per annum on the stated value. The securities are not registered under the Securities Act but are qualified for exemption under Section 4(a)(2) and Rule 506 promulgated thereunder.