eWellness Healthcare Corporation (OTCPK:EWLL) announced that it has entered into a securities purchase agreement for private placement of a senior convertible promissory note for gross proceeds of $50,000 on January 7, 2017. The transaction included participation from returning investor JEB Partners, L.P, a fund managed by Manchester Management Company, LLC. The company issued note at a discount of 10% with the principal amount of $55,000. The convertible note is convertible into common shares of the company at a conversion price equal to the lesser of $0.20 or 75% of the average of the volume weighted average price for the five trading days immediately following the 180th calendar day after the original issue date, whichever is less. The note carries fixed interest rate of 8% per annum. The note carries maturity date of July 6, 2017. The company may not prepay the note in whole or in part and is unsecured in nature. In the event of default payment of interest, the company will pay fixed interest rate of 15% per annum. The company expects to receive additional up to $1,200,000 in funding but there is no guarantee that it will be provided by the investor. The company issued securities pursuant to exemption provided under Regulation D.