Binding Commitment for $900,000 Convertible Note Raising

• FBR enters into binding agreement for $900,000 convertible note raising
• Additional funding of up to $2,970,000 potentially available
• Proceeds intended for general working capital

FBR Ltd (ASX:FBR) announced it has entered into a Convertible Security Agreement with SBC Global Investment Fund, allowing access to up to $3.87 million in funding. The agreement includes four tranches, with the first two tranches of $450,000 each already committed. Subsequent tranches are subject to mutual agreement and additional conditions. The notes issued will have a face value of $1 each, with conversion options based on specific price metrics. The funds will be used for general working capital, supporting the company's ongoing operations and projects.