Propanc Biopharma, Inc. announced that it has entered into securities purchase agreement with an investor to issue 1 convertible promissory note in the aggregate principal amount of $150,000 at an issue price of $135,000 for the aggregate gross proceeds of $135,000 on December 11, 2023. The principal and interest on the note is convertible into shares of common stock, par value $0.001 per share at the option of investor at any time the 6 month anniversary of date of the note at a price per share of 60% of the lowest traded price of the common stock during the 15 trading days prior to conversion. The maturity date of the note is December 8, 2024 and the note bears interest at a rate of 10% per annum.

During the first 60 days following the date of the note, the company has the right to prepay the principal and accrued but unpaid interest due under the note, at a one hundred fifteen percent 115% premium of the face amount plus accrued and unpaid interest, which increases to 130% if prepaid after 60 days, but less than 121 days from the issuance date, 140% if prepaid after 120 days, but less than 181 days from the issuance date. After this initial 180 day period, the company does not have the right to prepay the note. The note was issued pursuant to the private placement exemption from registration provided by Section 4(a)(2) of the Securities Act and/or by Rule 506 of Regulation D promulgated thereunder.