BrainChip Holdings Ltd (ASX:BRN), today updates the market following a trading halt on 15 January 2020. The Company will receive AU$520,000 in gross proceeds in exchange for the release of 10,000,000 Collateral Shares (previously issued in accordance with the Convertible Note Agreement announced to the ASX on 26 June 2019. Proceeds will be received by the Company
within two business days. No new shares are issued as a result of this transaction.
The balance of debt remaining on the note is US$990,000 and the remaining collateral shares to be returned to the company or otherwise dispositioned is 20,000,000.
For further information, please refer to the attached PDF
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