Inolife Technologies, Inc. (OTCPK:INOL.D) announced that it has entered into an agreement for a private placement of convertible debenture with F. Bertucci Family Trust on October 26, 2016. The debenture carries a fixed coupon of 8% per annum and will mature on October 20, 2020. The debenture is convertible into common share of the company at $1 per share. The interest is payable in common shares of the company at a price of $1 per share. As part of the transaction, Joe Bertucci, one of the beneficial owners of F. Bertucci Family Trust, has accepted the nomination to the board of directors of the company.