GigWorld Inc. announced that it has entered into a subscription agreement for a convertible promissory note at issue price of $1,400,000 for gross proceeds of $1,400,000 from returning investor Alset Inc. on February 23, 2023. The term of the Note is three years with maturity date in February, 2026. The simple interest is at a rate of 8% percent per annum.

The note in whole or in part will be converted into shares of the common stock of the company at a conversion rate equal to $0.50 per share, at any time prior to the maturity date under the note.