Propanc Biopharma, Inc. (OTCPK:PPCB) announced that it has entered into a securities purchase agreement for a private placement of convertible promissory note for gross proceeds of $153,000 on January 22, 2018. The transaction will involve participation from PowerUp Lending Group, Ltd. The note will carry an interest rate of 8% per annum and will mature on January 22, 2019. The investor has the option to convert all or any amount of the principal face amount of the note, starting on July 21, 2018 and ending on the later of the maturity date and the date the default amount, hereinafter defined, is paid if an event of default occurs, for shares of the company’s common stock at the then-applicable conversion price. The conversion price for the note shall be $0.065, subject to certain market price adjustment. If the market price is greater than or equal to $0.10, the conversion price shall be the greater of 65% of the market price and $0.065. In the event market price is less than $0.10, the conversion price shall be the variable conversion price. The note may be prepaid until 180 days from the issuance date. The note may be prepaid until 180 days from the issuance date. If the note is prepaid within 30 days of the issuance date, then the prepayment premium shall be 112% of the face amount plus any accrued interest; if the note is prepaid after 31 days from the issuance date, but less than 60 days from the issuance date, then the prepayment premium shall be 117% of the face amount plus any accrued interest, if the note is prepaid after 61 days from the issuance date, but less than 90 days from the issuance date, then the prepayment premium shall be 122% of the face amount plus any accrued interest, if the note is prepaid after 91 days from the issuance date, but less than 120 days from the issuance date, then the prepayment premium shall be 127% of the face amount plus any accrued interest, if the note is prepaid after 121 days from the issuance date, but less than 150 days from the issuance date, then the prepayment premium shall be 132% of the face amount plus any accrued interest, and if the note is prepaid after 151 days from the issuance date, but prior to 180 days from the issuance date, then the prepayment premium shall be 137% of the face amount plus any accrued interest. The company will reimburse the investor’s legal fees and due diligence fees in the amount of $3,000 for the transaction.