Fitell Corporation Announces Private Placement of US$3.6 Million of Senior Unsecured Convertible Notes

TAREN POINT, Australia, Jan. 19, 2024 (GLOBE NEWSWIRE) — Fitell Corporation (Nasdaq:FTEL) (“Fitell” or the “Company”), an online retailer of gym and fitness equipment in Australia, announced that the Company entered into a securities purchase agreement (the “Purchase Agreement”) with an investor on January 15, 2024. Pursuant to the Purchase Agreement filed with the Securities Exchange Commission on Form 6-K, the Company issued to the investor a three-year senior unsecured convertible promissory note in the principal amount of US$3,600,000 for the funding amount of US$3,312,000. This placement is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”).

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