CannaSys, Inc. (OTCPK:MJTK) announced that it has entered into a loan agreement for a private placement of one promissory note at $27,000 per note with accredited investor Jeff Holmes for gross proceeds of $27,000 on April 27, 2016. The note will have a fixed interest rate of 1% per annum and will mature on October 26, 2016. The company also issued warrants to purchase 100,000 common shares at $0.05 per share.

The warrants will mature on December 31, 2018. The company paid fees of $2,000 in the transaction.