Intiger Group Limited (ASX:IAM) announced that it has entered into binding terms sheet to issue unsecured convertible notes for gross proceeds of up to a maximum of AUD 500,000 on December 16, 2019. The notes will having a face value of AUD 1. Each convertible note will be convertible into common shares and one option of the company at a conversion price equal to 25% discount to the lowest issue price of a capital raising of the company exceeding AUD 500,000, completed by the company during the term of the convertible notes or at the price which equals a 25% discount to the volume weighted average price of the company’s shares in the previous 5 trading days, with options having an expiry date three years from the date of conversion. The common shares and options to be issued on conversion will be subject to shareholders approval. The transaction has been approved by the board of the company. The notes will be issued at an interest rate of 8% per annum and will be redeemed on or before 13 June 2020.