Ann: Half Year Accounts, page-20

It does not roll over according to the publshed detail. I've put the important bit in bold. Trustworthy input.

Magnis Energy Technologies Limited (“Magnis” or the “Company”) is pleased to announce that it has secured $8 Million in funding from Middle East based Negma Group (“Negma” or the “Subscriber”). Negma will provide up to $8 Million over the course of 12 months with a maximum monthly subscription of $700,000. The price of the shares issued will be at an 8% discount to the previous ten day Volume Weighted Average Price (“VWAP”). The Company has the flexibility to call the monthly amounts and can cancel the agreement at any stage without a penalty. An option for an additional $4 Million subscription is on offer at the same terms. The funds will be used for working capital and advancing all projects. In addition, an issue of 4,000,000 Unlisted Options in the Company at a exercise price of $0.40 per share with an expiry date of 30 April 2021 is offered subject to the necessary Shareholder approvals.

Key Terms of the Subscription

Subscriber Negma Group Ltd

Maximum Committed Capital A$8,000,000

Payment amount per month Maximum A$700,000 per month over 12 months

Commitment Fee A Commitment Fee of 5% of Maximum Committed Capital equal to $400,000 payable in the form of Magnis Shares at $100,000 per month for the first 4 months of the overall Subscription

https://www.asx.com.au/asxpdf/20190927/pdf/448y3zprw9sty8.pdf