Offer Size / Note ConversionPricing$25,000 per Convertible Note...

Offer Size / Note ConversionPricing

• $25,000 per Convertible Note
• Size: Up to AUD $4,000,000
• Conversion value of $0.0005 per share pre consolidation of capital which will move to $0.075 post consolidation (50% discount to last traded price of $0.001)
• Plus a 1 for 2 free attaching option with $0.18 strike and a 3 year term to be listed in conjunction with the second round capital raising program (new class strike 20% above consolidated price)
• Post 150 for 1 ($0.15 at last traded price) consolidation program approval the conversion value will be the lesser of $0.075 or a 20% discount to 15 day VWAP post consolidation.
• Entry Pricing EV – A$15.5m
• The Convertible Note will have a term of 18 months.
• The company expects to announce the EGM for the consolidation of capital early June 2022. The associated shareholder approvals for the consolidation of capital is expected to as follows be in early July 2022.