Marizyme, Inc. announced a private placement to issue 20% non convertible promissory for the gross proceeds of $750,000 on December 28, 2022. The transaction included participation from new lender Hexin Global Limited. The interest rate of the bonds are 20% and will mature on June 28, 2023.

The Company agreed to issue warrants to purchase the Company's common stock equal to $1,500,000 with the same terms as any warrants issued in the Company's next financing round and which would be immediately exercisable. Default in the payment of principal or interest or other material covenant under the Promissory Note would have triggered a default penalty equal to 0.666% of $750,000 per month during the period of default, and other lender rights, including the demand of immediate payment of all amounts due including accrued but unpaid interest, and recovery of all costs, fees including attorney's fees and disbursements, and expenses relating to collection and enforcement of the Promissory Note.