Loan Agreement Between Aggro Investments Pty Ltd and Propanc Biopharma Inc. with Debt Warrant
Propanc Biopharma Inc. has received a loan of AUD 230,000 from Aggro Investments Pty Ltd, commencing July 5, 2023, for a term of three years at a 10% annual interest rate, paid monthly. As part of the agreement, Aggro receives a warrant to purchase 15 million shares of Propanc's common stock at USD 0.01 per share. The agreement outlines the loan terms and the attached stock purchase warrant.
Exhibit 10.2
| To: | Mr. Josef Zelinger |
| CC: | Dr Julian Kenyon |
| From: | Mr. James Nathanielsz |
| Subject: | Company Loan from Aggro Investments Pty Ltd to Propanc Biopharma Inc. |
Dear Mr Zelinger,
The Board of Directors at Propanc Biopharma Inc. (“Propanc”) confirm acceptance and receipt of funds for the sum of two hundred and thirty thousand Australian dollars (AUD 230,000) from Aggro Investments Pty Ltd (“Aggro”) of 59 Seymour Road, Elsternwick, Victoria, Australia, 3185, of which you are Company Director.
The loan to Propanc is subject to the following terms & conditions:
| ● | Amount: A$230,000 | |
| ● | Term: 3 years | |
| ● | Commencement date: 05 July 2023 | |
| ● | Interest rate: 10% pa paid monthly in arrears | |
| ● | Debt warrant: |
| ○ | Warrant coverage: 100% | |
| ○ | Amount shares of common stock: 15,000,000 (15 million) | |
| ○ | Strike Price: USD 0.01 per share (US Dollars one penny) |
A signed executed Common Stock Purchase Warrant is attached under Exhibit A.
| Sincerely, | |
| /s/ James Nathanielsz | |
| James Nathanielsz | |
| Chief Executive Officer | |
| Approved by, | |
| /s/ Dr Julian Kenyon | |
| Dr Julian Kenyon | |
| Director |
p: +61 (0)3 9882 0780 a: 302/6 Butler Street, Camberwell, VIC 3124, AUSTRALIA w: www.propanc.com
| 1 |
Exhibit A: Propanc Common Stock Purchase Warrant to Aggro Investments Pty Ltd
| 2 |
