Arista Financial Corp. (OTCPK:ARST) announced that it has entered into a securities purchase agreement for a private placement of a convertible promissory note for gross proceeds of up to $109,500 with Crown Bridge Partners, LLC on December 3, 2018. The promissory note has a principal amount of up to $121,500 and has original issue discount of $12,000. The note accrues a fixed interest at the rate of 5% per annum. The notes are convertible into common shares at a variable conversion price. The company will also issue warrant in the transaction. The warrant entitles the holder to purchase up to 60,750 shares of the company’s common stock at an exercise price equal to $2 per share. The warrant will expire on December 3, 2021. The company has the right to prepay the amount. The transaction will take place in tranches. The company will receive net proceeds of $108,000 in the transaction. The notes are redeemable in nature. On the same day, the company received approximately $36,500 in its first tranche closing. The company has received net proceeds of $35,000 in its first tranche close. The company also issued 20,250 warrants in the first tranche. The interest and principal are payable on December 3, 2019. The company received the amount after deducting a 10% original issue discount and fees and expenses of buyer’s counsel.