K-TIG Limited announced a private placement of of up to 2,000 convertible debt notes at an issue price of AUD 1,000 per note for gross proceeds of AUD 2,000,000 on January 27, 2023. The transaction will include participation from unrelated, professional and sophisticated investors. The Notes will be unsecured, unsubordinated.

The notes will carry a fixed interest rate of 10% and will mature on 24 months from date of closing. The notes are convertible into shares at an fixed conversion price of AUD 0.20 per share.