• Placement of 200,000 unsecured, interest-bearing Convertible Notes
• Raised $100,000 from a sophisticated investor and $100,000 from a director
• Funds to support continued rollout of JAYRIDE's SaaS platform and working capital

JAYRIDE Group Limited (ASX: JAY) has announced that it has conducted a placement of 200,000 Convertible Notes to raise $200,000. The key terms of the Convertible Notes include: a total subscription amount of $200,000, a face value of $1.00 per Note, a 15% p.a. non-compounding interest rate payable quarterly, and a 12-month maturity date. The Convertible Notes can be converted into ordinary shares at any time from three months after the date of issue and prior to the Maturity Date, with the conversion price being the lower of a 25% discount to the 15-day VWAP or the issue price of any future capital raise, subject to a minimum floor price of $0.02 per share. The Company may also elect to redeem the Convertible Notes prior to the Maturity Date. The funds raised will be prioritised to the continued rollout of JAYRIDE's SaaS platform and for general working capital purposes. The placement includes $100,000 from a sophisticated investor and $100,000 from director Mr Brett Partridge, with the Company to seek shareholder approval for Mr Partridge's participation at its upcoming Annual General Meeting.

JAYRIDE is actively and constructively engaging with the ASX, the Company's auditors, shareholders and other stakeholders to seek requotation of its shares on the ASX in as timely and considered manner as practical, and will provide further updates over the coming weeks.