Loan Agreement between Propane Biopharma Inc. and Joshua Investments Pty Ltd (August 2024)
Propane Biopharma Inc. has received a loan of AUD 150,000 from Joshua Investments Pty Ltd. The loan starts on August 1, 2024, with a term of up to three months at Propane's discretion. It carries a 12% annual interest rate, payable monthly, with a default rate of 18%. Repayment can be made in cash or, by mutual agreement, through the issuance of Propane's common stock at a 35% discount to the lowest daily price over the previous five trading days, if the company uplists to NASDAQ.
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
