Eastgate Biotech Corp. (OTCPK:ETBI) announced that it has entered into purchase agreement for a private placement of a convertible note for the gross proceeds of $450,000 on April 20, 2018. The transaction included participation from Omar Ahmad. The note is zero-coupon and will mature on July 20, 2018. The note is convertible into common shares of the company. The company issued note at par. The company will issue warrants 9,000,000 series A warrants on each of May 20, 2018, June 20, 2018, and July 20, 2018. Each series A warrant entitles the holder to purchase one common share at an exercise price of $0.0045 per share for a period expiring on July 20, 2021. The company will also issue 18,000,000 series b warrants. Each series B warrant will entitle the holder to purchase one common share at a 30% premium on closing bid purchase price on the maturity date for a period expiring in May, 2021.