HITIQ Limited (ASX:HIQ) Converts $1.6m Notes to Shares and Secures New Advisory Mandate
Convertible Note Conversion
HITIQ Limited (ASX:HIQ) will convert $1.6 million of convertible notes plus accrued interest into ordinary shares at a discounted price of $0.016 per share. Harmil Angel Investments, the company’s largest shareholder, has agreed to a conversion price of $0.020 per share, representing a 25% premium.
New Corporate Advisory Mandate
The company has entered a revised Corporate Advisory Mandate with Henslow Pty Ltd to introduce US-based investors and strategic partners. The new agreement features success-based fees with no ongoing retainer. HITIQ thanked Henslow for their efforts in business strategy and introducing Executive Chairman Earl Eddings.
Debt Settlement
To prioritise capital towards operations, HITIQ will settle $161,807 owed to two external service providers by issuing 5,248,043 new ordinary shares. Any GST component will be paid in cash, utilizing the company’s ASX Listing Rule 7.1 placement capacity.
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