Fatfish Blockchain Limited announced that it has entered into agreement on commercially reasonable efforts basis to issue 8,000,000 convertible notes at a price of AUD 1 per note for gross proceeds of AUD 8,000,000 on August 19, 2021. The transaction will include participation from returning investor Arena Investors, LP. The notes are convertible into 17,142,857 new shares. The notes will be drawn down in single tranche. The notes will mature on 12 months from the issue date being August 25, 2021. The notes will have a fixed coupon rate of 1% per annum payable semi annually on June 30 and December 31 in each year as well on the maturity date. The conversion price of the notes will be AUD 0.07 per share at investor's option. The notes are redeemable in nature. The closing is expected to close on August 25, 2021 or any mutually agreed upon date. The investor will get a board seat in the company.