Ironclad Encryption Corporation (OTCPK:IRNC) announced that it has entered into an equity line agreement to issue class A common stock with $0.001 par value per share for gross proceeds of $5,000,000 to new investor Tangiers Global, LLC on August 24, 2017. The company will issue shares over a 36-month time period. The company will specify the number of shares which it will sell up to a maximum of the lesser of $500,000 or 200% of the average daily trading volume of the common stock during the 10 trading days immediately prior to the company’s put notice. The purchase price for shares is the lowest volume weighted average price or, if none, the lowest closing bid price of the common stock during the 5 trading day period including and immediately following the put notice date multiplied by 80%. The investment agreement terminates thirty-six months after the registration statement is declared effective, upon the purchase by of all of the common stock, at any time the registration statement is no longer in effect, or, subject to certain exceptions set forth therein, at any time upon 15 days written notice.