Loan Agreement dated June 3, 2024
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Business Finance
- Loan Agreements
EX-4.1 2 ex4-1.htm
Exhibit 4.1
 |  |
Biopharma, Inc.
| To: | Mr. Josef Zelinger |
| CC: | Dr. Julian Kenyon |
| From: | Mr. James Nathanielsz |
| Subject: | Loan to Propane Biopharma Inc. - Joshua Investments Pty Ltd |
Dear Josef Zelinger,
The Board of Directors at Propane Biopharma Inc. (‘‘Propane’’) confirm acceptance and receipt of funds for the sum of one hundred and fifty thousand Australian dollars (AUD 150,000) from Joshua Investments Pty Ltd (the ‘‘lender’’) of 59 Seymour Road, Elsternwick, Vic 3185 {‘‘address’’).
The loan to Propane is subject to the following terms & conditions:
| ● | Amount: A$150,000.00 | |
| ● | Term: 3 months or less at the discretion of Propane (the borrower) | |
| ● | Commencement date: 01 August 2024 | |
| ● | Interest rate: 12% pa payable monthly in arrears (default rate is 18% pa) | |
| ● | Repayment: By mutual consent the amount can be repaid via the issuance of common stock of the company (upon uplisting on NASDAQ) and the strike price shall be at a 35% discount to lowest daily balance of the five preceding trading days. |
| Sincerely, | |
 | |
| James Nathanielsz | |
| Chief Executive Officer | |
| Approved by, | |
 | |
| Dr Julian Kenyon | |
| Director | |
| Approved by | |
 | |
| Josef Zelinger | |
| Joshua Investments Pty Ltd |
p: +61(0 ###-###-#### a: 302/6 Butler Street, Camberwell, VIC 3124, AUSTRALIA w: www.propanc.co,m
