Nascent Biotech Inc. announced that it has entered into an agreement with Platinum Point Capital LLC and issued convertible debentures for gross proceeds of $242,500 on September 8, 2022. The principal amount of the debenture is $500,000 with original issue discount of 3%. The company will also issue a warrant to the investor to purchase 250,000 shares of the common stock for a period of two years, expiring on September 6, 2024, at an exercise price of $0.60 per share.

The company will issue debentures in two tranches of $242,500 each. The debentures bear an interest of 6% per annum. The debenture may be converted at the lesser of $0.30 per share or 80% of the lowest traded price of the company's common stock for ten consecutive trading days immediately prior to the conversion date.

All the securities issued in the transaction will exempt from registration provided by Section 4(a)(2) of the Securities Act of 1933. The debenture has a maturity date of one year and is due on September 6, 2023.