Q BioMed Inc. announced that it has entered into a securities purchase agreement with Platinum Point Capital LLC for private placement of a convertible debenture in the principal amount of $806,250 and a warrant to purchase up to 645,000 shares for gross proceeds of $750,000 on July 26, 2021. The debentures bear an interest rate of 10% per annum and matures on April 26, 2022. The debentures are convertible into common shares at lower of $1 per share or 93% of the average of the four lowest volume weighted average prices during the 20 trading days prior to the date of such calculation. We may not convert any portion of the debenture if such conversion would result in the holder beneficially owning more than 4.99% of then issued and common stock of the company, provided that such limitation may be waived by the holder with 61 days’ notice. The company may prepay the debenture at 120% of the outstanding aggregate principal amount within the first 60 days of issuance and at 130% of the sum of the outstanding principal amount, the accrued and unpaid interest on the unpaid principal amount and any default interest from 61 to 180 days after issuance. The warrant has an exercise price of $1.25 and may be exercised in cash or via cashless exercise, exercisable for five years from issuance. The company shall pay $15,000 to the investor’s legal counsel. The securities issued will be subject to exemptions provided under the Section 4(2) of the Securities Act of 1933, as amended, and Rule 506 of Regulation D promulgated under the Act.