Splash Beverage Group, Inc. announced that it has entered into agreement certain accredited investors for a private placement of 12% convertible 12 to18-month promissory notes for aggregate gross proceeds of $1,600,000 on August 10, 2023. The notes are convertible into 1,600,000 shares at an conversion price of $1 per share. The notes will bear interest rate of 12% per annum.

The company has also issued warrants to purchase 800,000 shares at an exercise price of $0.25 per share, subject to adjustment, and will expire 3 years from the initial exercise date.