Stemtech Corporation announced that it has entered into a securities purchase agreement of a senior secured convertible promissory note for gross proceeds of $7,000,000 on March 27, 2023. The transaction will include participation from Leviston Resources LLC. The note carries a coupon rate of 7% per annum. The note is issued pursuant to that certain securities purchase agreement dated of even date herewith, by and among the company and the holder, and capitalized terms not defined herein will have the meanings set forth in the purchase agreement. disbursements listed as numbers 2 through 4 will be made only if the 10-day VWAP prior to each disbursement is equal to or above $0.15 per share of common stock and the average daily trading volume is above $40,000. The note carries 12% original issue discount.

On the same date, the company issued senior secured convertible promissory note for gross proceeds of $1,000,000 as its first tranche which post discount turns out to be $880,000.