Propanc Biopharma, Inc. announced that has entered into a securities purchase agreement with returning investor GS Capital Partners LLC for issuance of 8% convertible redeemable promissory note in the aggregate gross proceeds of $72,500 on August 23, 2023. The principal amount of the note is $77,500. The notes will mature on February 23, 2024 and the note bears 8% per annum interest, which may be increased to 24% in the event of a default.

Interest on such note is payable only in common stock in accordance with the terms of conversion in the note. The note is issued at a discount of $5,000. The company will issue securities pursuant to exemption provided under Regulation D.