Oncolix, Inc. (OTCPK:ONCX) announced that it has entered into agreement of a private placement of units of convertible notes for gross proceeds of $1,034,699 on June 1, 2018. The 10% senior secured convertible notes have a principal amount of $1,217,293 and were issued at 15% discount. The company also issued five-year warrants to purchase 49,520,548 of common shares of the company at an exercise price of $0.036 per share for a period of five year from the date of closing. The company issued securities to 18 investors including participation from Cavalry Fund I LP, Mario Family Partners, Concordia Capital Partners, LLC, Northbridge Financial Services, JEB Partners, L.P, a fund managed by Manchester Management Company, LLC, OEP Opportunities, L.P., Pacific Capital Management, FirstFire Global Opportunities Fund LLC, a fund managed by FirstFire Capital Management LLC and individual investors, James Besser, Caroline J. Lester, Joseph R. Borda & Marlene Borda, Gregory G. Mario, Sharon T. Ewton, Nicole R. Hoagland, Robin and Leonidas Lemonidas JTWROS and Laurence Stewart. The convertible notes bear fixed interest at a rate of 10% per annum, with accrued interest payable commencing April 1, 2019, then on the first day of each calendar month thereafter until maturity. The interest is payable in cash, at the option of the company, subject to compliance with equity conditions, in fully tradable company common stock at a 25% discount to the average of the five lowest closing bid prices for the 20 trading days prior to the interest payment date. The maturity of the convertible notes is August 1, 2019, but commencing on April 1, 2019 and on the first day of each calendar month thereafter until maturity. The company has the right at any time to redeem all, but not less than all, of the total outstanding amount of principal amount then remaining under the convertible notes at a price equal to 135% of such principal amount. The company has agreed to reimburse the lead investor's counsel for legal fees and expenses in the amount of $35,000 and pay placement agent fees. The company issued securities in the transaction pursuant to Regulation D.