Healthier Choices Mgmt Corp (HCMC)

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HEALTHIER CHOICES MANAGEMENT CORP.

On December 31, 2018, two subsidiaries of Healthier Choices Management Corp. (the “Company”), Healthy Choice Markets 2, LLC, a Florida limited liability company (“HCM2” and a “Borrower”), The Vitamin Store, LLC, a Florida limited liability company (“TVS” and a “Borrower”) entered into a Term Loan Credit Agreement (the “Credit Agreement”) with Professional Bank, a Florida banking corporation (the “Bank”). In connection with the Credit Agreement, the Borrowers issued a Term Note (the “Term Note”) in the principal amount of $1,400,000 in favor of the Bank. The Term Note bears interest at a rate equal to two (2%) percentage points in excess of that rate shown in the Wall Street Journal as the prime rate, adjusted annually. The proceeds of the Term Note are to be used for acquisitions and for general working capital requirements.