KALINA POWER LIMITED Kalina Power Limited announced a private placement to issue 10% unsecured convertible notes for the gross proceeds of AUD 625,000 on August 7, 2023. The transaction included participation from Existing Shareholders, Directors and Management. The directors and management contributed for AUD 200,000.The notes bear 10% coupon rate and matures on 30 July 2024.The Convertible Notes will be converted on the following price at Conversion Price of AUD 0.826 and 85% of the offer price of securities in the Company?s next capital raise.
The Convertible Notes will be automatically converted into shares upon completing a capital raise of at least AUD 1,000,000. The Convertible Notes cannot be transferred except with the Company?s prior written approval. The issue of Convertible Notes to Directors or any related party will be subject to shareholder approval.
