Jacksam Corporation announced that it has entered into series B preferred share agreement and common share purchase warrant agreement for gross proceeds of $900,000 on March 3, 2022. The transaction will include participation from Tysadco Partners, LLC and Auctus Fund, LLC, a fund managed by Auctus Fund Management, LLC. The company will issue preferred shares for value of $500,000 and warrants for value of $400,000.

The investors shall be issued 1,000,000 shares of series B preferred stock and the interest rate of 8% per annum. Pursuant to common stock purchase warrant agreement, the investor will be entitled to purchase up to aggregate of 2,000,000 common shares at an exercise price of $0.20 per share.