Gene Biotherapeutics, Inc. (OTCPK:CRXM) announced that it has entered into a preferred stock purchase agreement with Nostrum Pharmaceuticals LLC to issue 1,700,000 series B convertible preferred shares at a price of $1 per share for gross proceeds of $1,700,000 on May 22, 2020. Each preferred share has a par value of $0.0001 per share. The conversion price is $0.0113 per common share, that is, convertible into convertible in the aggregate into 150,442,478 shares. As a result of the transaction, James L. Grainer and Kaushik K. Vyas of the investor will join the company's board and James L. Grainer was appointed to serve as Chairman of the Board. The company will pay up to $75,000 of the company’s legal and other expenses. The company issued securities pursuant to under the Section 4(a)(2) of the Securities Exchange Act of 1933.