Millennium Healthcare Inc. (OTCQB:MHCC) announced that it has signed a securities purchase agreement to issue convertible promissory notes for gross proceeds of $40,000 on January 13, 2016. The principle amount of notes is $40,000. The notes were issued at par.

The notes have a maturity of 36 months and bear interest at 12% per annum which will be paid quarterly. Default interest will accrue on these notes at 17% percent per annum. The company issued securities pursuant to exemption provided under Regulation D. The company will issue these note holders an aggregate of 2,000,000,000 shares of its restricted common stock in one or more tranches, provided that at any time the note holders' aggregate beneficial ownership shall not exceed 4.99% of the company's issued and outstanding common stock.

The company shall pay all transfer agent fees, stamp taxes and other taxes and duties levied in connection with the delivery of any securities to the purchasers.