Leader Environmental Technologies Limited announced that it has entered into m agreement for a private placement of convertible bond for proceeds of $15,000,000 on October 11, 2022. The transaction will include participation from new lender InnoVision Pomelo LP, a special purpose vehicle established and managed by China Innovision Capital. The bonds are zero-coupon and has a 3-year tenure with an option for the Company to extend the maturity date by a further 2 years or lesser.

The bonds are convertible into equity shares at an fixed conversion price of $0.10 per share.