On May 10, 2024, Propanc Biopharma, Inc. (the "Company") reported to have entered into a Maturity Extension Agreement (the "Extension Agreement") with Ionic Ventures, LLC (the "Ionic"), pursuant to which the Ionic agreed to extend the maturity date of original 10% OID Promissory Note issued on August 15, 2023 (the "Original Note") to September 30, 2024 (Press release, Propanc, MAY 10, 2024, View Source [SID1234643402]). The maturity date of the Original Note shall be amended retroactively as of November 15, 2023 and both the Company and Ionic acknowledged and agreed that no event of default shall be deemed to have occurred solely by virtue of the Company failing to pay all principal and interest on or before November 15, 2023. All other terms of the Original Note shall continue in full force and effect after the date of the Extension Agreement

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The foregoing description of the Extension Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Extension Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K (this "Form 8-K") and is incorporated herein by reference.