Rokk3r Inc. (OTCPK:ROKK) announced that it has entered into a security purchase agreement with 10X Capital Management Limited for private placement of 3,906,250 series B convertible preferred shares at a price of $0.64 for gross proceeds of $2,500,000 on July 26, 2018. Each series B convertible preferred share is convertible into one common share. The preferred shares does not bear any dividend. The preferred shares are redeemable at any time after 18 months of issuance at a price per share equal to 122.5% of liquidation value. The preferred shares will be issued and sold in five monthly tranches of at least 781,250 shares for $500,000 each, commencing on the July 27, 2018, the initial closing date. The company will issue subsequent on August 27, 2018, September 27, 2018, October 27, 2018, and November 27, 2018.