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MoneyOnMobile issues senior convertible promissory note

MoneyOnMobile Inc. has issued a $2.5 million senior convertible promissory note to Laird Cagan pursuant to a securities exchange agreement.

The loan will be payable in full Dec. 31, 2019. Cagan has the option to convert all or a part of the outstanding loan into that number of shares of the company's common shares equal to the result of dividing the loan, and any accrued and unpaid interest.