Molekule Inc. announced that it has entered into an agreement with new investor Sourcenext Corporation (TSE:4344) for third party private placement of 3,205,128 preferred shares at a price of $3.16335 per share for gross proceeds of $10,138,938.45 (¥1,094,000,000) on May 22, 2020. Each preferred share is convertible into one common share with voting rights. The company has paid advisory fees of $138,938.45 (¥15,000,000) in the transaction.