US Nuclear Corp. announced that it has entered into a securities purchase agreement with, Mast Hill Fund, L.P., a fund managed by Mast Hill Management, LLC for the private placement of unsecured promissory note at a price of $611,000 for gross proceeds on May 5, 2022. The note has an original issuance discount of 10% of the principal and bears interest at 5% a year.

The note will have a maturity of twelve month and is due on May 5, 2023. The note will be convertible into shares of the common stock at a fixed price of $0.20 per share, and cash warrants with $0.75 strike price. The company will receive net proceeds of $611,000.

The company also issued a common stock purchase warrant to buyer to purchase 1,500,000 common shares for a period of three years, expiring May 4, 2025. The company also issued 625,00 commitments shares of the company. The security purchase agreement has been approved by board of directors.