Blue Star Foods Corp. announced a private placement of a convertible promissory note in the principal amount of $138,000 which had an original issue discount of $23,000 on April 16, 2024. The transaction included participation from new investor, 1800 Diagonal Lending, LLC.

The Diagonal Note has a one-time interest payment of $26,220 paid upon issuance and a maturity date of January 15, 2025.The investor has the right to convert all or any part of the outstanding and unpaid amount of the note into fully paid and non-assessable shares of the company?s common stock at a conversion price of 61% of the market price as described in the note.