AdRabbit Limited announced that it has issued an unsecured, non-convertible promissory note for gross proceeds of $60,000 on March 15, 2023. The transaction involved participation from 12.64 Fund, Limited Partnership. The note bears an interest at the rate of 3% per annum.

The loan has a term expiring on the earlier of: (i) May 30, 2023; and (ii) the completion by the Company of an equityfinancing of a minimum of $250,000.