Affluence Resource Pte Ltd announced that it has entered into a convertible loan agreement to lend a convertible loan in the principal amount of $1,000,000 to be paid in two tranches of $500,000 each by April 18, 2024 and May 15, 2024 on April 16, 2024. The Convertible Loan shall bear interest of 12% per annum from the date it is remitted to April 30, 2025 or the date when the company sends a written notice to convert any unpaid principal amount of the Convertible Loan with accrued interests into ordinary shares of the company, whichever is earlier. Anytime on or before May 31, 2024, the investor may send a Conversion Notice to convert the then Outstanding Sum into ordinary shares of the company at $1 per share.

Anytime after May 31, 2024, the company may send a Conversion Notice to convert the then Outstanding Sum into ordinary shares of the Company at $1.42 per share. The investor has no right of early repayment of any part of the Convertible Loan without company's written consent. Any Outstanding Sum on the Maturity Date will be automatically converted into ordinary shares of the company at $1.42 per share.

The transaction will include participation from new investor EUDA Health Holdings Limited.