Inolife Technologies, Inc. announced that it has entered into a securities purchase agreement for a private placement of secured promissory note for gross proceeds of $48,000 with new lender Lewis Family Group Fund LP on March 16, 2015. The note bears a fixed interest rate of 24% per annum and matures on June 29, 2015. Interest on the note shall be payable monthly on the 15th of each month and shall be computed on the basis of a 365-day year and the actual number of days elapsed. Any amount of principal or interest on the note which is not paid when due shall bear interest at the rate of 30% per annum from the due date thereof until the same is paid. The note contains customary default provisions, including provisions for potential acceleration of the note, a default premium and a default interest rate. The company may secure a five day cure period upon the payment of an additional $5,000. The company has the option to prepay the note, along with an interest premium, which shall be equal to shares of common stock with a dollar value equal to the amount of the prepayment. The company has agreed to reimburse investor's expenses of $3,500.

The company will also issue a warrant exercisable to purchase 2,000,000 shares of common stock at an exercise price of two times the closing price of the company's stock on the OTC Markets on the date of issuance and is exercisable for a period of seven years.