Rocky Mountain High Brands, Inc. (OTCPK:RMHB) announced that it has entered into new preferred equity financing agreement with investor for a private placement of up to 1,650 series F convertible preferred stock of par value $0.001 per share issued at a price of $1,000 per share for gross proceeds of up to $1,650,000 on December 20, 2019. The transaction will include participation from returning investor GHS Investments, LLC. The preferred stock carries dividend rate of 12% per annum, payable quarterly in arrears in cash or in preferred stock at a price of $1,200 per share. The preferred stock will be convertible into common shares of the company and the conversion price for the shares shall be the amount equal to the lowest daily volume-weighted average price for the company’s common stock for the twenty trading days immediately preceding the date of such conversion. The company will obtain not more than 4.99% stake in the company on post conversion. The shares can be redeemable at the options of investor. The company will issue 100 shares for a gross proceeds of $100,000 once in every 30 days subjected to terms of shares purchase agreement and certification of designation. The company may not issue preferred stock as part of additional closing after the 2nd year of the share purchase agreement or entire amount is funded. The company will issue securities pursuant to exemption provided under Regulation D. The transaction will be completed in tranches. On the same date, the company issued 100 preferred stock for a gross proceeds of $130,000 as part of initial closing to GHS Investments, LLC . The company also issued additional 30 preferred stock to the investor as commitment fee.