Rapid Therapeutic Science Laboratories, Inc. announced that it has entered into a securities purchase agreement with J. Scott Suggs, for best efforts private placement of unsecured convertible promissory note for gross proceeds of $400,000 on January 28, 2022. The note is due on January 26, 2023. The notes will bear interest payment of 18% per annum, compounded monthly (at the end of each month, until the earlier of January 26, 2023 or ten days from the date that the company's common stock is listed on a national exchange and that the company receives funding under any underwritten offering in connection therewith.

The note is convertible at a conversion price of $0.000075 per share, initially equal to a maximum of 6,293,333,333 shares of common stock. The company has reimbursed $3,750 for Buyer's legal fees and due diligence fee. The securities are subject to transfer restrictions.

The securities have been issued pursuant to Section 4(a)(2) and/or Rule 506 of Regulation D of the Securities Act.