Rich Pharmaceuticals, Inc. (OTCPK:RCHA) announced that it has entered into securities purchase agreement for private placement of convertible promissory note with a par value of $67,500 for gross proceeds of $60,000 on January 10, 2018. The transaction involved participation from existing investor GHS Investments, LLC. The note carries a coupon of 10% per annum and would mature on October 10, 2018. The note is being issued with a 10% original issuance discount and with an initial $1,500 being withheld by the company to offset transaction costs. The note will be convertible into common shares by the investor at any time at a conversion price equal to 60% of the lowest trading price during the 10 day period prior to conversion. The company did not pay any finder’s fee in the transaction. The company will issue securities pursuant to exemption under Regulation D.