Chronix Biomedical, Inc. announced that it has issued unsecured convertible promissory note for gross proceeds of $100,000 on September 20, 2019. The transaction involved participation from returning investor Limitless Earth plc (AIM:LME) and other investors. The note bears an interest rate of 6% per annum. The principle and all accrued and unpaid interest is due upon the earlier of: immediately prior to the completion of a corporate transaction; the company having net cash reserves of at least $2,500,000; 21 September 2021; or in the event of default by the company.