Regenicin, Inc. (OTCPK:RGIN) announced that it has entered into a securities purchase agreement of convertible promissory note for gross proceeds of $75,000 on December 31, 2013. The transaction included participation from individual investors. The note will be convertible into common shares at a fixed conversion price of $0.02 per share.

The note will carry an interest rate of 8% per annum and would mature in May 2014. The company also issued warrants to purchase 937,500 shares of common stock at an exercise price of $0.25 per share for period of two years.