Ann: Emefcy Closes A$31.6 million Private Placement-EMC.AX, page-3

The proceeds of the capital raising will be applied to fund:  Full commercial entry and scale-up of activities in to the China market;  Expansion of the Company’s global sales and marketing activities;  Continuing product development activities, including fast track development of the “China product”;  General working capital;  Redemption of amounts payable under the True North Note; and  Costs associated with the capital raising.


How much in total is payable under the True North Note , is this a convertible note?