Zero Gravity Solutions, Inc. (OTCPK:ZGSI) announced a private placement of 10% secured convertible promissory notes for gross proceeds of $2,000,000 on June 29, 2018. The transaction will include participation from certain prospective accredited investors. The company will also issue warrants to purchase 2,000,000 common shares of the company. The notes are convertible into common shares of the company at a conversion price of $3 per share. The warrants are exercisable into shares of common shares at an exercise price of $1 per share for a period of 2 years from the date of issuance. The transaction is expected to close on July 31, 2018. The company may prepay the interest and principal at any time. The transaction is subject to exemption under Regulation D.