Driven Deliveries, Inc. (OTCPK:DRVD) announced that it has entered into a securities purchase agreement with RIGC-DRVD, LLC an accredited investor for private placement of 2,600,000 shares and one warrant at a price of $0.50 per share for a total gross proceeds of $1,300,000 on July 28, 2020. The company also paid the investor a funding fee of $104,000 and issued the investor a warrant to purchase 208,000 shares of the company common stock. All the warrants in the transaction has an exercise price of $0.55 per share for a term of three years expiring on July 31, 2023. The securities are subject to exemption provided under the Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D.