CONVERTIBLE LOAN FACILITY The Convertible Loan Facility with Jun...

CONVERTIBLE LOAN FACILITY


The Convertible Loan Facility with Jun Moon Limited for $1,000,000 is fully drawn and contains the following conditions;

• Repayable within 24 months of execution date (26 April 2017) or any other date as agreed,
• Interest shall accrue at a rate of 8% per annum,
• At the lender’s discretion, all or a proportion of the advance, and any or all accrued interest thereon shall be applied to the subscription of shares by the lender at a price of $0.05 per share.

• 
  STANDBY SUBSCRIPTION AGREEMENT
  On 24 July 2017 the Company announced a Standby Subscription Agreement with Addchance Holdings Ltd for a $1,000,000 facility to provide working capital to the Company. To the end of March 2018 $308,157 had been drawn against this facility and 27,193,552 shares issued as a consequence. The shares are issued at 80% of 15-day VWAP prior to each drawdown. The balance of the facility amounts to $691,842.

Lots of Dilution ahead it looks like

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