Indoor Harvest, Corp. (OTCPK:INQD) announced that it has entered into an equity purchase agreement for a private placement of common shares with a new sophisticated and accredited investor Kodiak Capital Group LLC for gross proceeds of $2,000,000 on January 30, 2016. The company will issue shares having a par value of $0.001 per share from time to time at its discretion at a price equal to 80% of the lowest closing bid price of the common share for any trading day during the five consecutive trading days immediately following the date of the company's notice to the investor requesting the purchase of shares.

If the price of the share falls below $0.50 per share, the investor may elect to purchase certain or all shares with respect to equity line agreement. The company may not require investor to purchase shares that along with the shares underlying the note would result in an ownership of investor more than 9.99% in the company. The company will sell shares to investor from date that the Securities and Exchange Commission has declared the registration statement effective until the one year anniversary thereof.

The company will issue securities pursuant to exemption provided under Regulation D. The agreement may be terminated by the company at any time at its discretion without incurring any cost.