Invitrocue Limited (ASX:IVQ) announced that it has entered into subscription agreement with ChinaLink Limited to issue common shares for gross proceeds of CAD 10,000,000 and and unsecured convertible loan for gross proceeds of CAD 250,000 for aggregate gross proceeds of CAD 10,250,000 on December 6, 2019. The price of the shares will be lower of $0.03074805 (AUD 0.045) per share or volume weighted average price of the shares over 5 trading days prior to completion of each tranche of the subscription for shares. The company will shares for CAD 3,000,000 in its first tranche expected to be completed in 1st quarter of 2020 and CAD 7,000,000 in its second tranche over 2 or more financial years. The issuance of shares is subject to approval of shareholders of the company. The unsecured convertible loan will bear an interest of 10% per annum and will mature on October 1, 2022. The convertible loan will be convertible into shares at any time at the lowest of $0.03074805 (AUD 0.045) per share or volume weighted average price of the shares over 5 trading days prior to conversion. If the company is suspended of trading at the time of conversion, the average price of shares traded privately prior to the conversion for a minimum volume equivalent to the last 5 trading days volume. The convertible loan will be issued on or before 31 December 2019. Every 5 shares subscribed for and issued after conversion will attach with 1 option. Each option is exercisable at the subscribed price of the shares, and expires on October 1, 2022.