TransAKT Ltd. (OTCPK:TAKD.D) announced that it has entered into securities purchase agreement for a private placement of a convertible promissory note at $1,000,000 per note for gross proceeds of $1,000,000 with accredited investor Ho Kang-Wing, Chief Executive Officer and director of the company on July 15, 2016. The note carries a fixed coupon of 8% per annum and would mature on July 14, 2018. The note is convertible into common shares of the company at a conversion price of $0.01 per share. The company issued the securities pursuant to exemption provided under Regulation D.