Lans Holdings, Inc. (OTCPK:LAHO) announced that it has entered into a securities purchase agreement for a private placement of a convertible promissory note for gross proceeds of $85,000 with a principal amount of $85,000 with new accredited investor on December 15, 2016. The note carries a fixed coupon of 12% per annum and would mature on September 15, 2017. The note is convertible into common shares of the company at a conversion price is equal to the lesser of a 40% discount to the lowest trading price of the common stock during the 25 trading days prior to the note being issued and the variable conversion price which is a 40% discount to the lowest trading price of the common stock during the 25 trading day period prior to conversion. Any amount of principal or interest that is due under the note, which is not paid by the maturity date, will bear interest at the rate of 24% per annum until it is paid. The company will pay legal fees of $2,750 and other expenses of $2,750.