Silver Bullet Data Services Group PLC announced a private placement of unsecured convertible loan notes for the gross proceeds of £500,000 on June 1, 2023. The transaction included participation from individual investor Ketih Morris for £250,000 convertible loan notes. The convertible loan notes have a term of three years and interest at a rate of 12% per annum, which is payable commencing on the date of issue either as to, at the company's option of 8% per annum paid monthly plus 4% payable via the issue of additional convertible loan notes as payment in kind or 12% payable via the issue of additional convertible loan notes as payment in kind.

The convertible loan notes are unsecured and convertible into new ordinary shares at the price of £0.50 per new ordinary share for 1,430,768 ordinary shares.