Adelong Gold Limited announced that it has received binding commitments for an issue 10,416,667 convertible notes at a price of AUD 0.024 per convertible note for gross proceeds of AUD 250,000 on January 23, 2023. The convertible notes are convertible into common shares of the company within eighteen months. The notes will bear interest rate of 8% annually and the first interest payment date is January 23, 2024..

The notes will mature on July 23, 2024.