AXIM Biotechnologies, Inc entered into a Convertible Note Purchase Agreement with Medical Marijuana, Inc to issue convertible notes for a principal amount of $750,000on December 26, 2023. The notes bear a interest at the rate of 5.25% per annum, which is payable annually beginning on December 26, 2024, and each year thereafter until maturity on December 26, 2033. The notes acquired by MJNA pursuant to the Agreement (including the Initial Note) are convertible at any time prior to the maturity date, at the sole option of MJNA, into shares of the Company?s common stock at a conversion price equal to the lesser of $0.01 or 70% of the average of the two lowest closing prices of the Company?s common stock in the ten (10) trading days immediately preceding the date of conversion.

The securities issued are pursuant to exemption provided under Regulation D. on the same date, the company issued $100,000 principal amount of convertible notes under first tranche.