METAWORKS PLATFORMS, INC. MetaWorks Platforms, Inc. announced that it has entered into a Convertible Loan Agreement to issue convertible loan for the gross proceeds of $375,000 on June 11, 2024. The Convertible Loan Agreement carries an interest rate of 10%. The Loan is payment in one year and matures on June 11, 2025.
The loan is convertible at the holder?s option at a price of $0.025. In the event of a default, the Convertible Loan Agreement is convertible into shares of our common stock at a price of $.025, any outstanding loan amount at the time of default will increase by 30%. In a default situation the Holder will have the right to convert all or any part of the outstanding and unpaid amount of the Convertible Loan Agreement into shares of our common stock at 0.025.
