THC Therapeutics, Inc. (OTCPK:THCT) announced that it has entered into an agreement for a private placement of convertible promissory note for gross proceeds of $150,000 on January 4, 2019. The transaction included participation from Auctus Fund Management, LLC. The note will be senior secured obligation of the company. The note will bear an interest at 10% per annum and will mature on October 3, 2019. The note will be convertible into common shares of the company at a conversion price equal to 50% of the lowest traded price of its common stock during the 20 prior trading days. The note will be pre-payable within 240 days from the date of issue. The note will be pre-payable within 90 days from the date of issue on the payment of 130% of the principal, within 180 days on the payment of 135% of the principal, and within 240 days on the payment of 150% of the principal and payment of unpaid interest. The company paid $12,750 for diligence and transactional expenses and $2,750 for investor's legal advisor's fees. The securities issued will be subject to a hold period restriction. The company will issue securities pursuant to exemption provided under Regulation D.