08/30/2024 | Press release | Distributed by Public on 08/30/2024 15:26
Item 1.01 Entry into a Material Definitive Agreement.
Effective August 26, 2024, Propanc Biopharma, Inc. (the "Company") entered into and closed a loan agreement (the "Loan") with one of our members of the Board of Directors (the "Board Member"), pursuant to which the Board Member loaned the Company an aggregate principal amount of $85,000 AUD. The Company intends to use the net proceeds therefrom for general working capital purposes.
There is no maturity date or interest rate on the Loan and it is intended to be repaid as soon as practicable at the discretion of the Company.