Rainmaker Worldwide Inc. announced that it has entered into agreement with a buyer for the private placement of 10% convertible redeemable note for gross proceeds of $35,000 on July 26, 2022. The note is scheduled to mature on July 26, 2023, 12 months after the issuance date and provides for interest to accrue at an interest rate equal to 10% per annum, or, upon an event of default, 22% from the due date. The buyer has the right to convert all or any part of the outstanding and unpaid principal and interest into fully paid shares of the company's common stock.

This note may not be prepaid in whole or in part except as otherwise explicitly set forth herein. Any amount of principal or interest on this note which is not paid when due shall bear interest at the rate of 24% per annum from the due date thereof until the same is paid. The note was issued at par