VG Life Sciences Inc. (OTCPK:VGLS) announced that it has received $50,000 in funding from existing investor, MedBridge, LLC on March 22, 2013. The company received convertible loan from the investor over a period of 24 months. The loan will be convertible into common shares of the company at the fixed price of the average of the 20 days of company's share price prior to execution of the agreement.

The company also issued one warrant with each common share upon conversion of the loan. Each warrant will entitle the holder to purchase an additional common share of the company at the average of the 20 days of company's share price prior to execution of the agreement. The warrants will expire in 18 months from the date of issuance.

As part of the round, David Odell, the Chief Executive Officer of MedBridge, LLC joined the company's board of directors. The company expected to receive $55,000 in the transaction.