Bounty Oil & Gas NL announced that it has entered into convertible note trust deed and convertible loan trust deed to issue unsecured convertible note for gross proceeds of AUD 39,000 and secured convertible loan note for gross proceeds of AUD 260,000 for aggregate proceeds of AUD 299,000 on March 27, 2026. The convertible note accrues interest at the rate of 10% per annum, conversion price will be of AUD 0.00017 and will mature on the first to occur of conversion, 6 months from issue, or earlier repayment/redemption on in accordance with the terms. The convertible loan note accrues interest at the rate of 10% per annum, conversion price will be of AUD 0.0051 and will mature on the first to occur of conversion, 6 months from issue, or earlier repayment/redemption on in accordance with the terms. The company paid lead manager fee as 6% of face value of notes subscribed/issued. The transaction will be subject to shareholder approval at a general meeting.
The company expects to dispatch a notice of meeting in April 2026 and to hold the meeting by no later than May 31, 2026.
