Arax Holdings Corp. announced that it has entered into a Sales Purchase agreement to issue 110,000 shares of its common stock at fair market value as of the date of the Sale Purchase Agreement on May 4, 2023. In addition, the Company will issue a 10% convertible note for$58,000 with a maturity date of December 31, 2023.

The convertible note has an option to convert into the Company?s common stock with a conversion price of $1. The common shares issued for the conversion if exercised, shall be issued with a restriction under Rule 144 of the U.S. Securities and Exchange Commission Act of 1934.