Ann: Company & Phase 3 Expansion Update & App 3Z, page-21

You need to read the announcement.
Firstly the deal
Term: 3 years facility (repayable early at Company’s discretion)
1)Interest rate: 10% pa. compounding and accruing
2) End of term payment: +A$1m (to face value)
3) End of term payment amount (at any stage up to 3 years):
= face value + interest accrued + A$1m payment

AT THE END OF 3 YEARS LOAN TO BE REPAID IN SHARES OR CASH

"End of 3-year term payment form either: Cash or shares (Company discretion);
(a) Shares: the share amount will be determined by then share price (1- month VWAP immediately before end of term) less a 15% discount;

$9 million / current share price. less 15% discount or $0.087 less 15% discount = $0.07395 $9 million /$0.074 = 121 million shares. I just rounded it off.
" Shares: the share amount will be determined by then share price (1- month VWAP immediately before end of term) less a 15% discount;"

(b) Cash: as per the end of term payment amount above."

OK to be repaid in cash $6 million + $2 million interest ("10% pa. compounding and accruing") + $1 million
= $9 million