engage:BDR Limited announced that it will issue 6 month convertible notes for gross proceeds of AUD 1,000,000 on May 1, 2022. The transaction will include participation from professional and sophisticated clients of CPS Capital Group Pty Ltd. The notes will be convertible into common shares of the company at a conversion price of AUD 0.2 per share. The notes will bear an interest rate of 10% per annum.

The transaction is expected to close on May 5, 2022.