Advanced Health Intelligence Ltd. announced a private placement of unsecured convertible loan facility for the gross proceeds of AUD 1,500,000 on September 12, 2023. The loan carry interest rate of 10% per annum and is compounded quarterly in arrears and will mature after 24 months from the date of signing. The investors may elect to redeem the outstanding principal amount and interest on the loans in cash on the Maturity Date.

The loans and interest may be converted into fully paid ordinary shares at the investor?s election, at a conversion price equal to AUD 0.30 per share. The transaction is subject to shareholders approval.