Item 1.01 Entry into a Material Definitive Agreement

On June 15, 2021, Qrons Inc. (the "Company") entered into a note purchase agreement with Quick Capital, LLC, a Wyoming limited liability company ("Quick Capital"), pursuant to which the Company issued Quick Capital a twelve-month convertible promissory note in the principal amount of $115,000 (the "Note") for a $100,000 investment, which included an original issuance discount of 10% and a $3,500 credit for Quick Capital's legal and transaction costs. In connection with the Note issuance, Quick Capital was also issued a five-year warrant (the "Warrant") to purchase up to an aggregate of 115,000 shares of the Company's common stock at an exercise price of $1.00 per share (the "Warrant Shares").

Quick Capital is entitled to a cash payment of $15,000 as liquidated damages for any failure to include all shares issuable upon the conversion of the Note (the "Conversion Shares") and the Warrant Shares on any registration statement filed with the Securities and Exchange Commission. For twelve months following the issuance of the Quick Note, Quick Capital will have the right of first refusal to participate in future financings proposed to the Company by bonafide third parties on the same terms as such third parties and participation rights to purchase up to $115,000 of securities in other offerings.

The Note is convertible into shares of common stock at a conversion price of $0.50 per share. If delivery of the Conversion Shares is not timely made, the Company is obligated to pay Quick Capital $2,000 for each day that the delivery is late as liquidated damages. The conversion price of the Note will be reduced if the Company issues common stock or grants derivative securities for consideration at a price less than the conversion price to the amount of the consideration of such dilutive issuance. The Note may not be prepaid.

If the Company makes a distribution of its assets, Quick Capital will be entitled to receive the amount of such assets which would have been payable had Quick Capital been the holder of such shares on the record date for such distribution. If the Company issues convertible securities or rights to purchase securities or other property pro rata to its shareholders, Quick Capital will be entitled to acquire such securities or rights upon the same terms as if Quick Capital had converted the Note.

The Note also contains certain restrictive covenants limiting the Company's ability to make distributions or dividends, repurchase its securities, incur debt, sell assets, make loans, or engage in exchange offers.

If an event of default (as described in the Note) occurs, the Note will become immediately due and payable in an amount equal to 150% of the then outstanding principal amount of the Note plus any interest or amounts owing to Quick Capital.

Quick Capital is entitled to the same terms of future financings of the Company that are more favorable than the terms of the Quick Note.

The Warrant provides, among other things, that if the Warrant Shares are not timely delivered, the Company will be obligated to pay $2,000 per day as liquidated damages. If there is no effective registration statement covering the Warrant Shares, Quick Capital may exercise the Warrant on a cashless basis in accordance with the terms of the Warrant. The exercise price and number of Warrant Shares are subject to adjustment in the event of certain corporate actions as described in the Warrant, including stock dividends, distributions, stock splits and dilutive issuances. Upon the occurrence of certain fundamental transactions including mergers, the sale of all of the Company's assets and tender offers, Quick Capital will be entitled to alternative consideration related to those transactions.


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The Note may not be converted and the Warrant may not be exercised if after giving effect to such conversion or exercise, as the case may be, Quick Capital and its affiliates would beneficially own more than 4.99% of the outstanding common stock of the Company.

The foregoing description of the Purchase Agreement, Note and Warrant is qualified in its entirety by reference to the full text of such Purchase Agreement, Note and Warrant, copies of which are attached hereto as Exhibits 10.29, 10.30 and 10.31, respectively and are incorporated herein in their entirety by reference.




Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet  Arrangement of a Registrant.
The information contained in Item 1.01 above is incorporated by reference in
this Item 2.03.
Section 3 - Securities and Trading Markets
Item 3.02 Unregistered Sales of Equity Securities.
The information contained in Item 1.01 above is incorporated herein by reference
in this Item 3.02.
The Note and Warrant described in Item 1.01 above were offered and sold in
reliance upon exemptions from registration pursuant to Section 4(a)(2) under the
Securities Act of 1933, as amended, and/or Rule 506(b) of Regulation D
promulgated thereunder, as transactions by an issuer not involving any public
offering.
Section 9 - Financial Statements and Exhibits
Item 9.01.  Financial Statements and Exhibits

(d) Exhibits.



Exhibit No    Description
10.29          Note Purchase Agreement, dated June 15, 2021, between the Company and
             Quick Capital, LLC

10.30          Convertible Promissory Note, dated June 15, 2021, issued to Quick
             Capital, LLC

10.31          Common Stock Purchase Warrant, dated June 15, 2021, issued to Quick
             Capital, LLC





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