Document:

Exhibit 10.6

 

MARIPOSA HEALTH LIMITED

ABN 134 154 680

 

 

 

TERMS
AND CONDITIONS OF CONVERTIBLE NOTE

 

 

    	 

    	 

    

  

TERMS AND CONDITIONS OF CONVERTIBLE NOTE

 

		1.	THE CONVERTIBLE NOTE ISSUE

 

		1.1	Terms

 

The Convertible Note will:

 

		(a)	have a face value representing a principal amount of AUD$1.00 (one Australian dollar);

 

		(b)	subscription amount – AUD $100,000, in two (2) tranches;

 

		i.	Subscription one (1) - immediately on execution of Convertible Note – AUD $55,000,
and

 

		ii.	Subscription two (2) - seven (7) days following execution of Convertible Note –
AUD $45,000.

 

		(c)	be issued to an investor who falls within one of the exemptions contained in section 708 of the Corporations Act from the
general requirement set out in section 706 of the Corporations Act that the issue of securities to investors occur by way of a
disclosure document;

 

		(d)	bear interest as set out in clause 2;

 

		(e)	be redeemed in accordance with clause 3; and

 

		(f)	be convertible into Shares, as provided in clause 4.

 

		1.2	Voting

 

The Convertible Note does not
give the Noteholder the right to vote at a meeting of the members of the Company.

 

		1.3	Nature of Convertible Note

 

The Convertible Note is unsecured.

 

The
Company is working to raise funds to meet the costs of listing on a USA exchange (NASADQ or equivalent) by way of a first payment
in respect of the licencing of HI-164 for manufacture and sale in China and a loan (‘Raised Funds’) . As the monies
being advanced pursuant to this agreement are to be used to meet part of the costs of listing on the US exchange, the first AUD
$100,000 of Raised Funds will be held in escrow in the Trust Account of B L Smith, Solicitor, for the benefit of Lyndcote
Super Pty Ltd, and used to retire the principal due under this Agreement unless that principal is
converted into shares, in which event those monies will be released from escrow, whichever event occurs first.

 

		1.4	Withholding Tax

 

		(g)	All payments or credits to, or to the account of the
Noteholder (including payment of, and credits in respect of interest) will be made net of any tax in respect thereof required
by law to be withheld, deducted or paid by the Company except to the extent that the Company is satisfied that the Noteholder
is exempt from any such tax or is a person in respect of whom any such withholding, deduction or payment is not required to be
made. Any Noteholder claiming any such exemption or to be such a person will provide the Company with such evidence as the Company
may from time to time require to satisfy itself as to the validity of such claim.

 

		(h)	The Company may make any deduction or withholding
from any amount payable to the Noteholder in respect of the Convertible
Note for or on account of withholding or other tax required by law to be deducted or withheld, and, where any such deduction or
withholding has been made and the amount thereof accounted for by the Company to the Commissioner of Taxation or other appropriate
taxing authority and the balance of the amount payable has been paid to the Noteholder concerned, the full amount payable to such
Noteholder will be deemed to have been duly paid and satisfied by the Company.

 

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		1.5	Entry in Register

 

The Company must ensure that the Noteholder's details
are entered in the Register.

 

		1.6	Noteholder Warranties

 

The Noteholder warrants that
it is a person who falls within one of the exemptions contained in section 708 of the Corporations Act from the general requirement
set out in section 706 of the Corporations Act that the issue of securities to investors occur by way of a disclosure document.

 

		2.	INTEREST

 

		2.1	Interest Rate

 

		(i)	Interest will be payable on the Convertible Note at the rate of 15% per annum. Calculated on Simple
Interest basis.

 

		(j)	Interest will accrue from the Nominated Date through to 30 June 2018 (Maturity Date), unless the
Convertible Note is converted, in which case interest will accrue daily on and from the Nominated Date through to the Conversion
Date and will be paid quarterly in arrears.

 

		(k)	Interest will be paid quarterly in arrears on 31 March, 30 June and 30 September and 31 December
in each year until the Maturity Date. In the event that a Noteholder elects to convert any or all of its Convertible Notes to Shares,
any accrued interest on those Convertible Notes converted into Shares will be paid within 5 Business Days of the Conversion Date.

 

		3.	REDEMPTION

 

		3.1	Redemption

 

The Convertible Note will be redeemed by the Company
in the following circumstances:

 

		(i)	if the Noteholder has not elected to convert the Convertible Note by the [Maturity Date]; or

 

		(ii)	if an Event of Default occurs, the Noteholder may, in its sole discretion, call on the Company
to redeem the Convertible Note, provided it gives to the Company a written notice of redemption.

 

The redemption contemplated in
clauses 3.1(i) and 3.1(ii) shall be known as the "Redemption Event".

 

		3.2	Repayment

 

If a Redemption Event occurs
the Company must pay to the Noteholder the amount referred to in clause 3.3 the first Business Day following the Maturity Date
or, where the Noteholder has elected to call on the Company to redeem the Convertible Note in accordance with clause 3.1(ii), within
10 business days of the Event of Default, as the case may be.

 

		3.3	Timing of Redemption

 

Where
a Redemption Event occurs in accordance with clause 3.1, the Company will deliver to the Noteholder a cheque, draft, deposit or
electronic funds transfer in favour of the Noteholder or such other person as the Noteholder will have directed the Company in
writing, for the
Redemption Amount which includes the amount of any interest payment calculated in accordance with clause 2.

 

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		3.4	Exclusion

 

The Noteholder will not be entitled to require redemption
of the Convertible Note held by it otherwise than pursuant to this clause 3.

 

		4.	CONVERSION

 

		4.1	Conversion

 

		(a)	The Noteholder may elect to convert the Convertible Note at any time from the Nominated Date

 

		(i)	to the Maturity Date, subject to compliance with paragraph 4.1 (d) on the following basis;

 

		A.	at any time prior to any takeover or merger - the deemed issue
price equal will be equal to AUD 15 cents per share in Mariposa Health Limited, save that, subject to any adjustment required pursuant
to Clause 4.6,

 

		B.	at any time post any takeover or merger – on the same terms and conditions as set out in
this Agreement but pursuant to a new Convertible Note to be issued by ANDES 2 Inc, a copy of which is set out in Appendix A.

 

		(b)	The Noteholder may only elect to convert the Convertible Note in parcels of 10,000 Convertible
Notes or multiples of 10,000 Convertible Notes or, if the Noteholder holds less than 10,000 Convertible Notes the number of convertible
Notes held by the Noteholder.

 

		(c)	If the Noteholder elects to convert the Convertible Note the Noteholder shall provide the Company
with a Conversion Notice as set out in Annexure A to notify the Company that the Noteholder elects to convert the Convertible Note
held by that Noteholder.

 

		(d)	The Noteholder shall provide the Company with a Conversion Notice to notify the Company that the
Noteholder elects to convert the Convertible Note held by that Noteholder. The Conversion Notice may only be provided to the Company
within the first five Business Days of each calendar month.

 

		(e)	If the Noteholder has elected to convert the Convertible Note in accordance with clause (a), the
Company will proceed to issue and allot to the Noteholder, or its nominee which must be a fully owned subsidiary of the Noteholder,
that number of Shares as calculated in accordance with clause 4.2 within 10 Business Days of the Conversion Calculation Date.

 

		(f)	The issue and allotment of ordinary Shares as fully paid on conversion pursuant to this clause
will be and be deemed for all purposes to be in full satisfaction and discharge of the Principal Amount owing to the Noteholder
pursuant to the Convertible Note.

 

		(g)	The Shares issued and allotted upon the conversion pursuant to this clause will rank equally in
all respects with all issued ordinary shares in the capital of the Company at the Conversion Date.

 

		(h)	Where the Convertible Note is converted the Company will make application for official quotation
where appropriate of all Shares issued and allotted upon the conversion pursuant to this clause or as soon as reasonably practicable
after Shares are so issued and allotted.

 

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		(i)	Within
10 Business Days of the issue and allotment of Shares to the Noteholder upon the conversion pursuant to this clause, the
Company will deliver to the Noteholder a shareholding statement in respect of the fully paid Shares so issued and allotted.

 

		4.2	Conversion Rate

 

The Principal Amount of the Convertible
Note converts into Shares calculated by dividing the Principal Amount by the Conversion Price. Where the number of Shares equates
to a fraction of a share the number of Shares will be rounded up to the next whole number. For the avoidance of doubt, interest
on the Principal Amount will be paid in accordance with clause 2.

 

		4.3	Conversion Date

 

The conversion date of the Convertible
Note means the date the Company issues Shares to the Noteholder who has elected to convert the Convertible Note.

 

		4.4	No Other Rights of Conversion

 

The Convertible Note will only be converted to Shares as set
out in this clause 4.

 

		4.5	Shares Allotted on Conversion

 

The Shares to be allotted on conversion
under these Conditions will be shares with respect to which no provision is made (whether by the Constitution or other instrument
constituting or defining the constitution of the Company or otherwise) for changing or converting them into shares of another class,
except for the purpose of enabling, in accordance with any law relating to companies, the consolidation and division of all or
any of the share capital of the Company or of another company or the subdivision of all or any of the shares in the capital of
the Company or of another company.

 

		4.6	Reconstruction

 

		(a)	If there is a reconstruction (including consolidation, subdivision, reduction or return) of the
issued capital of the Company, the basis for conversion of the Convertible Note set out in clause 4.2 will be reconstructed in
the same proportion as the issued capital of the Company is reconstructed, and will be in a manner which will not result in any
additional benefits being conferred on the Noteholder which are not conferred on the shareholders of the Company, (subject to the
same provisions with respect to rounding of entitlements as sanctioned by the meeting of shareholders approving the reconstruction
of capital), nor any benefits being taken away from the Noteholder, but in all other respects the terms for conversion of the Convertible
Note will remain unchanged.

 

		(b)	The adjustments in this clause 4.6 will be determined by the Company.

 

		4.7	Entitlement Issue

 

If the Company undertakes a pro rata entitlement
issue at any time during the period subsequent to the issue of the Convertible Note and prior to the Maturity Date and the Convertible
Note has not been converted or redeemed, as the case may be, the Noteholder shall be entitled to participate in the issue by conversion
of the Convertible Note prior to such record date set by the Company. The Company shall give the Noteholder at least 10 Business
Days' notice of such record date to afford the Noteholder the opportunity to convert the Convertible Note for the purposes of participating
in the issue.

 

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		5.	BONUS
SHARE ALLOTMENT

 

If a bonus share allotment is
made by the Company to its ordinary shareholders, at any time during the period subsequent to the issue of the Convertible Note
to the Noteholder and prior to the Conversion Date, the Company will issue and allot to that Noteholder:

 

		(a)	shares in the capital of the Company of the same class as the shares the subject of the bonus share
allotment; and

 

		(b)	the number of shares so issued will be equal to the number of shares in the capital of the Company
to which that Noteholder would have been entitled, if the face value of the Convertible Note held by that Noteholder in respect
of which a conversion of the Note occurred pursuant to clause 4.1 immediately prior to the making of the bonus share allotment,

 

on terms and conditions that
are the same as or correspond with or are no more favourable nor no less favourable to the Noteholder than the terms and conditions
on which such shares are allotted to any ordinary shareholder of the Company.

 

		6.	FOREIGN HOLDERS

 

Where the Convertible Note is
held by or on behalf of a person resident outside Australia, then, but despite any other terms or conditions applicable to such
Convertible Note, it will be a condition precedent to the right of the Noteholder to receive payment of any amount payable under
these Conditions or to obtain shares on conversion that the requirements of all applicable laws of the Commonwealth of Australia
or any of its States or Territories and of the country of residence of the Noteholder in respect of such payment or conversion
are satisfied so that such payment or conversion will not result in a breach of any such applicable law by the Company.

 

		7.	CONVERSION TO VOTING SHARES PRECLUDED

 

		7.1	Breaches of Law

 

Notwithstanding any other term
of these Conditions, the Noteholder is not entitled to convert (and the Company is entitled to refuse to convert) the Convertible
Note if the conversion would result in:

 

		(a)	a person acquiring Voting Shares in the Company in breach of section 606 of the Corporations Act
(or any equivalent provision); or

 

		(b)	a person acquiring Shares where a notification being required to be sent to, or consent is required
under, any legislation by which the Company and its Related Bodies Corporate are bound.

 

		7.2	Statutory Declaration

 

The Company may in its discretion
require the Noteholder to provide a statutory declaration confirming that the circumstances referred to in clause 7.1 do not exist
in respect of conversion by the Noteholder.

 

		8.	REGISTRATION OF TRANSFERS

 

		8.1	Transfer

 

Subject to these Conditions and
the Noteholder’s compliance with Part 6D.2 of the Corporations Act, the Noteholder may transfer the Convertible Note that
it holds by an instrument in writing in any usual form or in any other form that the directors of the Company approve.

 

		8.2	Transfer Form

 

In relation to the transfer of the Convertible Note
the transfer form must be:

 

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		a)	lodged at the Specified Office together with payment of any stamp duty, taxes or other governmental charges payable thereon;
and

 

		(b)	accompanied by such evidence as the Company may require to prove the title and identity of the transferor and the transferee,
the right of entitlement of the transferee to receive a transfer of the Convertible Note, the due execution of the transfer form
and the due compliance and observance with all applicable laws and regulations of the Commonwealth of Australia and each State
and Territory thereof.

 

		8.3	Recording Transfers

 

The Company will promptly upon
being satisfied with the transfer form, the information lodged therewith, the identity of the transferor and the transferee and
the due compliance with such reasonable regulations as the Company may determine from time to time, accept the application contained
in the transfer form by making an inscription in the Register recording the transfer of the Convertible Note.

 

		8.4	Registration

 

On the inscription being made
in the Register, the Company will recognise the transferee as the registered owner of the Convertible Note and as being entitled
to the repayment of the Principal Amount and the payment of all interest in respect thereof and to all other rights vested in Noteholders
under these Conditions. The transferor will for all purposes be and be deemed to be the registered owner of the Convertible Note
until an inscription is made in the Register recording the transfer, the name and address of the transferee and the other matters
required to be entered into the Register by the Company from time to time.

 

		8.5	Administration

 

		(a)	The Company will register the transfer of the Convertible Note notwithstanding that the transfer
form to which the transfer relates has not been marked by the Company.

 

		(b)	The Company will procure that all transfer forms which are registered will be retained by the Company
for a period of 7 years after receipt but any transfer form which the Company declines to register will (except in the case of
fraud or suspected fraud) be returned on demand to the person depositing the same.

 

		(c)	The Company will not register the transfer of the Convertible Note on or after its Maturity Date.

 

		8.6	Directions

 

		(a)	Subject to these Conditions, and any notations on the Register, the Company will comply with any payment or distribution direction
made by a transferee:

 

		(i)	in an application for transfer of the Convertible Note on and from the time of registration of
that transfer; and

 

		(ii)	at any subsequent time in such form as the Company will from time to time determine.

 

		(b)	A direction from any one or more joint holders of the Convertible Note will bind all the joint
holders. If more than one direction is received from joint holders of the Convertible Note the direction of the senior is to be
accepted to the exclusion of the other directions and for this purpose seniority is determined by the order in which the names
appear in the Register in respect of the joint holding.

 

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		8.7	Transmission

 

Subject to clause 7.1, a person
becoming entitled to the Convertible Note as a consequence of the death or bankruptcy of the Noteholder or of a vesting order or
a person administering the estate of the Noteholder may, upon producing such evidence as to that entitlement or status as the Company
considers sufficient, transfer the Convertible Note or, if so entitled, become registered as the holder of the Convertible Note.

 

		8.8	No Registration Fee

 

Transfers will be inscribed in
the Register without charge provided taxes or other governmental charges (if any) imposed in relation to the transfer have been
paid.

 

		8.9	Non-Registration
of Third Party Interests

 

The Convertible Note will be
registered by name only and without reference to any trusteeships. Any entry in the Register of the name and address of the Noteholder
and the amount owed to the Noteholder is conclusive evidence of title subject to rectification for fraud or error.

 

		8.10	Person registered

 

The person registered as the
Noteholder of the Convertible Note will be treated by the Company as the absolute owner of the Convertible Note. The Company will
not, except as ordered by a Court or as required by statute, be obliged to take notice of any claim to the Convertible Note. Entry
in the Register of the name and address of the Noteholder and the one Convertible Note held by the Noteholder is conclusive evidence
of title subject to rectification for fraud or error.

 

		9.	DEFINED TERMS

 

The following words and phrases
have these meanings in the Conditions unless the contrary intention appears:

 

"Business Day"
means a day on which banks are open for general banking business in Perth, other than a Saturday or a Sunday or public holiday
and which is also a Business Day for the purposes of the Listing Rules;

 

"Company" means Mariposa Health Limited
ABN 134 154 680;

 

"Conditions" means the terms and
conditions applicable to the Convertible Note;

 

"Constitution" means the Constitution of the Company;

 

"Conversion Calculation
Date" means the date being the last Business Day of the month immediately preceding the month in which a Conversion Notice
is received;

 

"Conversion Date" has the meaning
set out in clause 4.3;

 

"Conversion Price" means

 

The Noteholder may elect to convert
the Convertible Note at any time within 3 years from the Nominated Date to the Maturity Date, subject to compliance with paragraph
4.1 (e) on the following basis;

 

		(i)	at any time prior to any takeover or merger -
the deemed issue price equal will be equal to AUD 15 cents per share in Mariposa Health Limited, save that, subject to
any adjustment required pursuant to Clause 4.6,

 

at any time post any takeover
or merger on the same terms and conditions contained in this Agreement but pursuant to a new Convertible Note to be issued by ANDES
2 Inc as set out in Appendix Abut subject to any adjustment required pursuant to Clause 4.6.

 

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"Conversion Notice" means the notice
provided by the Noteholder to the Company in accordance with Clause 4.1 and which is substantially in the form of Annexure A;

 

"Convertible Note"
means the convertible note issued by the Company under these Conditions which is outstanding;

 

"Corporations Act" means the Corporations
Act 2001 (Cth);

 

"Encumbrance"
includes any mortgage, pledge, charge, lien, assignment, hypothecation, security interest, title retention, preferential right
or trust arrangement and any other security agreement or arrangement of any kind given or created, in each case, by way of security;

 

"Event of Default" each of the following
events is an Event of Default:

 

(a)         (unremedied default
in payment) if the Company makes default in the payment of the Redemption Amount, any interest payable on the Convertible Note
or any other moneys payable to the Noteholder under these Conditions and that default continues unremedied by the Company for a
period of 7 days after demand for those moneys is made by the Noteholder;

 

(b)         (unremedied material
breach) if the Company commits a material breach of a covenant, condition or obligation imposed on it by these Conditions and
that breach has not been remedied within 21 days of receiving notice of the breach from the Noteholder requiring that breach to
be remedied;

 

(c)         (winding up) if
an order is made for the winding-up or dissolution of the Company or a resolution is effectively
passed by the Company for the winding up or dissolution of the Company (otherwise than for the purpose of a reconstruction or amalgamation
which has the prior written consent of the Noteholder);

 

(d)         (insolvency) if
the Company is or becomes unable to pay its debts when they are due within the meaning of the Corporations Act or is presumed to
be insolvent under the Corporations Act;

 

(e)         (receiver) a receiver,
receiver and manager, trustee, administrator, other Controller (as defined by the Corporations Act) or similar official is appointed
over any of the assets or undertaking of the Company and is not removed within 10 Business Days; and

 

(f)         (deregistration)
a notice under section 601AB of the Corporations Act is given to, or an application under section 601AA is made by, or in respect
of the Company; and

 

(g)         (Change of Management)
any material change to the composition of the board of directors or senior management of the Company prior to the Maturity Date.
Notwithstanding the foregoing, change of control of the Company shall not be an event of default if the majority of Noteholders'
consent in advance to any material management team changes, and such consent shall not unreasonably be withheld;

 

"Maturity Date" in relation to a
Convertible Note means the first to occur of:

 

(a)         a Conversion Date; or

 

(b)         30 June 2018;

 

"Nominated Date" means the date the
Convertible Note is issued to the Noteholder;

 

"Noteholder"
in relation to a Convertible Note means the person entered in the Register as the holder of the Convertible Note;

 

"Principal Amount"
means the principal amount outstanding from time to time under the Convertible Note;

 

"Redemption Amount" of the Convertible
Note means the face value of the Convertible Note;

 

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"Redemption
Event" means an event specified in clause 3.1;

 

"Register" means a register of
the holder of the Convertible Note;

 

"Related Bodies Corporate" has
the meaning given to that term in the Corporations Act;

 

"Share" means a fully paid ordinary
share in the capital of the Company;

 

"Specified Office" means the registered
office of the Company or such other office advised by the Company to the Noteholder from time to time; and

 

"Voting Share" has the meaning
given to that expression in section 9 of the Corporations Act.

 

	Execution	 
	 	 
	Executed as a Deed	 
	 	 
	Signed Sealed
    and Delivered by MARIPOSA HEALTH LIMITED ACN 134 154 680 in accordance with Section 127 of the Corporations Act 2001 (Cth)	 
	 	 
	 	 
	Director	 
	 	 
	KEVIN MARTIN LYNN	 
	 	 
	Name of Director 	 
	 	 
	28 JANUARY 2015	 
	 	 
	Date	 

 

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ANNEXURE
A

 

MARIPOSA HEALTH LIMITED

ABN 134 154 680

CONVERSION NOTICE

APPLICATION TO CONVERT UNLISTED
CONVERTIBLE NOTES

 

	Convertible Note Holders Name and Address	 
	 	 
	 	 
	 	 
	 	 
	 	 
	To the Directors, Mariposa Health Limited	 

 

I/We hereby
convert______________________ notes(s) into Ordinary Shares of Mariposa Health Limited Note: Conversions must be in
whole or in multiples of not less than 10,000.

 

I/We request that you allot
me the appropriate number of shares and I/we agree to accept that number of shares on the terms and conditions of the Convertible
Note and the Constitution of the Company, and I/we authorise you to place my/our name on the register.

 

I/We must not offer any of the
shares issued to me/us, for sale to any person ("Secondary Offer") within 12 months from the date of issue of
those shares unless:

 

		(i)	the Secondary Offer does not require disclosure as a result of sections 707 or 708 of the Corporations
Act (excluding section 708(1) of the Corporations Act);

		(ii)	the Secondary Offer does not require disclosure as a result of section 708A or ASIC Class Order
04/671 or any variation or replacement of such Class Order;

		(iii)	the Secondary Offer is made pursuant to a disclosure document in accordance with the Corporations
Act; or

		(iv)	the Secondary Offer is received by a person outside Australia.

 

For the avoidance of doubt,
paragraph (iii) above does not create any obligation on the Company to issue a disclosure document (whether at its cost or otherwise).

 

Sign Here – This section
must  be signed for your instructions to be executed

 

I/We authorise you to act in
accordance with my/our instructions set out on in this notice.

 

	Individual or Securityholder 1	 	Securityholder 2	 	Securityholder 3
	 	 	 	 	 
	Director	 	Director/Company	 	Sole Director and
		 	Secretary	 	Sole Company Secretary

 

Dated:

 

Note: when signed under Power of Attorney, the attorney
states that they have not received a notice of revocation and a certified copy of the Power of Attorney accompanies this conversion
notice.

Summary of major terms:

 

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	Issue
    Price/Face Value:	A$1.00
    per convertible Note.
	 	 
	Subscription Immediately:	55,000 Notes (A$55,000.00).
	 	 
	Subscription –
    7 days:	45,000 Notes (A$45,000.00).
	 	 
	Interest:	15% p.a., payable
    three-monthly in arrears.
	 	 
	Maturity Date:	30 June 2018.
	 	 
	Prepayments:	The Issuer can
    elect to prepay the Notes in full, plus interest accrued, at any time, subject to the giving of 10 days’ notice.
	 	 
	Conversion:	The Noteholder
    may elect to convert the Convertible Note at any time from the Nominated Date to the Maturity Date, subject to compliance
    with paragraph 4.1 (e) on the following basis;
	 	 
	 	(i)           at
    any time prior to any takeover or merger - the deemed issue price equal will be equal to AUD 15 cents per share in Mariposa
    Health Limited, save that, subject to any adjustment required pursuant to Clause 4.6,
	 	 
	 	(ii)         at
    any time post any takeover or merger – on the basis of a the Directors of Mariposa Health Limited on taking Board control
    of ANDES 2 Inc. will execute a new Convertible Note as set out in Appendix A.
	 	 
	 	save
    that, it is subject to Board approval and to any adjustment required pursuant to Clause 4.6.
	 	 
	Governing
    Law:	Laws
    of New South Wales, Australia.

 

    	12Exhibit 10.7

 

Unsecured
Loan Deed

 

PT Soho
Industri Pharmasi (a company established under the laws of the Republic of Indonesia)

 

Lender

 

MARIPOSA
HEALTH LIMITED (ACN: 134 154 680)

 

Borrower

 

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	Summary Provisions	 
	 	 
	Borrower	 
	 	 
	Name: 	Mariposa Health Limited
	 	 
	Address:	Level 3, 35 Lime Street, Sydney, NSW, 2000
	 	 
	Attention:	Mr Jarrod White
	 	 
	Email: 	jarrod@taccountants.com.au
	 	 
	Lender	 
	 	 
	Name:	PT SOHO INDUSTRI PHARMASI 
	 	 
	Incorporation:	a company established under the laws of the Republic of Indonesia 
	 	 
	Registered address:	Jl. Pulo Gadung No. 6, Kawasan Industri Pulo Gadung, Jakarta 13920, Indonesia
	 	 
	Attention:	Ludovic Toulemonde / Piero Brambati / Yuliana Tjhai
	 	 
	Emails:	Piero.Brambati@sohoglobalhealth.com; 
	 	Yuliana.Tjhai@sohoglobalhealth.com
	 	 
	Repayment Date: 	6 May 2018
	 	 
	Governing Law:	New South Wales
	 	 
	Date of this Deed:	6 May 2015 

 

Parties 

 

The Borrower as fully identified
in the Summary Provisions.

 

The Lender as fully identified
in the Summary Provisions.

 

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Background

 

		A:	Mariposa Health Limited (the Borrower) and PT Soho Industri Pharmasi (the Lender) did on 28 September 2010 enter into a Convertible
Note Deed

 

		B:	The amount payable under the Convertible Note Deed by Mariposa Health Limited to PT Soho Industri Pharmasi on 22 April 2015
being for principal of AUD$750,000 and includes interest accrued.

 

		D.	PT Soho Industri Pharmasi agrees to convert sixty percent (60%) of the principal and all accrued interest to the date of this
Agreement to 6,371,722 shares in Mariposa Health Limited

 

		E.	Mariposa Health Inc. will grant options for a further 437,671 shares in Mariposa Health Inc. to be exercised by PT Soho Industri
Pharmasi upon the listing of Mariposa Health Inc. on a recognised exchange (e.g. NASDAQ) as payment in full for the repayment of
all remaining debt and interest, unless the value at listing is of the shares is less than the debt, in which case the remaining
debt amount will roll over for an additional one year.

 

		F	In the event that the company does not list on the on listing on a recognised exchange, the debt being AUD$368,204 will
remain in Mariposa Health Limited (The Debt).

 

		G:	By this Deed the Convertible Note Deed entered into with PT Soho Industri Pharmasi on 28 September 2010 is replaced in all
respects by this Deed.

 

Operative Provisions

 

		1.	Repayment and prepayment

 

Repayment

 

		1.1	Repayment of 60% of the Convertible Note:

 

		1.1.1	PT Soho Industri Pharmasi agrees to convert sixty percent (60%) of the principal of the Convertible Note ($AUD 750,000) and
all accrued interest to the date of this Agreement to 6,371,722 shares in Mariposa Health Limited.

 

		1.2	Repayment of the remaining 40% of the Convertible Note

 

		1.2.1	PT Soho Industri Pharmasi grants to Mariposa Health Inc. the right to call 437,671 Options (Call Options) granted to PT Soho
Industri Pharmasi to compel the purchase of shares in Mariposa Health Inc. exercisable at the time of listing on a recognised exchange
(e.g. NASDAQ). The exercise price for the options will be the number of share options (437, 671 shares) divided by the outstanding
debt amount or the listing price per share on the recognised exchange, whichever is the lower price. If the total exercise price
for the 437,671 share options is less than the total debt amount (i.e. the listing price is the exercise price) then clause 1.2.3
will apply. If clause 1.2.3 does not apply then the exercise of the options in consideration for the debt amount will be considered
payment in full for all remaining debt and interest.

 

		1.2.2	In the event that Mariposa Health Inc. does not list on a recognised exchange (e.g. NASDAQ), the Borrower shall repay to the
Lender the remaining Debt ($AUD 368,024) and the net interest that accrues thereon under the terms of this Deed on 6 May 2018 (the
Repayment Date).

 

		1.2.3	In the event that the total exercise price payable for the 437,671 share options in 1.2.1 above, is less than the outstanding
debt amount then then the balance of the Debt amount will be rolled over as a Senior Note for an additional 1 year at 12.5% interest
p.a. simple interest, payable one year after the Put Options are exercised (the revised Repayment Date).

 

    	3

    	 

    

  

		1.3	Voluntary Repayment

 

The Borrower may repay
to the Lender the 6 May 2015 Debt together with interest that accrues thereon under the terms of this Deed at any time prior to
the Repayment Date in which event interest shall cease to further accrue.

 

		2.	Senior Debt

 

		2.1	The Company agrees that the debt shall rank in priority to all other creditors and be classified as Senior Debt. Moreover the
company grants the Lender the right to lodge and secure its interest up to the face value of the debt as a fixed Personal Property
Security Interest for the purposes of the Personal Property Securities Act 2009 (Cth).

 

		2.2	The Company agrees to include in any future debt obligations a clause that clearly states that this Senior Debt to PT SOHO
Industri Pharmasi is to be paid out prior to any other creditors in any situation including a winding up of the company.

 

		3.	Payments

 

Payment without deduction

 

		3.1	All payments under this Deed must be made in full in immediately available funds without any deduction,
set-off, unless otherwise agreed in writing. For clarity, all payments to be made by the Borrower to the Lender in respect
of this Agreement shall be made without deductions or withholdings for taxes, levies, duties or charges of any nature now or hereafter
imposed, levied, collected, withheld or assessed in the Borrower’s country of domicile or elsewhere (including Indonesia),
except as required by law. If the applicable law requires such deductions or withholdings to be made by the Borrower, the amount
of payment due by the Borrower to the Lender hereunder shall be increased to an amount which (after making any deduction or withholding
required by law) leaves an amount equal to the payment which would have been due if no such deduction or withholding had been required.

 

		4.	Interest

 

		4.1	Interest on the 22 April 2015 Debt will accrue at the rate of 12.5% .p.a. interest, calculated and compounding annually.

 

		5.	Representations and warranties

 

Representations 

 

		5.1	The Borrower represents and warrants to the Lender that:

 

		5.1.1	Status: The Borrower is a corporation, duly incorporated and validly existing under the laws of its jurisdiction of incorporation.

 

		5.1.2	Power: The Borrower has the power to do each of the following:

 

		(a)	To own its property and carry on its business as it is being conducted.

 

		(b)	To enter into, perform and deliver this Deed and the transactions contemplated by it.

 

		5.1.3	Binding obligations: The obligations expressed to be assumed by the Borrower in this Deed are legal, valid, binding and enforceable.

 

		5.1.4	No conflict: The entry into and performance by the Borrower of, and the transactions contemplated by, this Deed do not and
will not conflict with any of the following:

 

		(a)	Any law or regulation applicable to it.

 

 

    	4

    	 

    

  

		(b)	Its constitutional documents.

 

		(c)	Any Deed or instrument binding on it or any of its property.

 

		5.1.5	Solvent: The Borrower is solvent and able to pay its debts as and when they fall due.

 

Reliance

 

		5.2	The Borrower acknowledges that the Lender entered into this Deed in reliance on the representations and warranties provided
by the Borrower in this Deed.

 

		6.	Undertakings

 

General undertakings

 

		6.1	So long as any amount is outstanding under this Deed the Borrower undertakes to the Lender that it will do each of the following:

 

		6.1.1	Compliance with laws: Duly and punctually comply in all respects with all laws to which it may be subject.

 

		6.1.2	Records: Keep proper records in relation to its business.

 

		6.1.3	Proceedings: Promptly on becoming aware of them, the details of any proceedings which are current, threatened or pending against
the Borrower, and which might, if adversely determined, have a Material Adverse Effect. In this clause “proceedings”
means litigation, arbitration, administrative or investigative proceedings of or before any court, arbitral body or agency, tax
or government authority.

 

		6.1.4	Notification of default: Promptly on becoming aware of either of the following, a notice of the event:

 

		(a)	The occurrence of an Event of Default (and the steps, if any, being taken to remedy it).

 

		(b)	Any other occurrence which would, if a notice were given or a time period set out in the relevant Event of Default ended, become
an Event of Default.

 

		6.1.5	Perform its obligations: perform, fulfil and observe all of its obligations under this Deed.

 

		6.1.6	Consents and approvals: ensure that all consents, licences, approvals or authorisations (if any) of any government body required
for the validity and enforceability of this Deed and the performance of its obligations under this Deed are obtained and promptly
renewed and maintained in full force and effect and, if requested, it will provide promptly copies to the Lender when they are
obtained or renewed.

 

		6.1.7	No Encumbrances: it will not create, permit or suffer to exist any Encumbrance over all or any of its assets except for:

 

		6.1.7.1	Encumbrances consented to in writing by the Lender;

 

		6.1.7.2	liens arising by operation of law in the ordinary course of day-to-day trading and securing obligations not more than 60 days
old; and

 

		6.1.7.3	arrangements constituted by retention in connection with the acquisition of goods in the ordinary course of its business.

 

		7.	Events of Default 

 

Events of Default 

 

		7.1	An Event of Default occurs if any of the following occurs without the consent of, or unless waived by, the Lender:

 

		7.1.1	Non-payment: The Borrower does not pay at or before the due time and on the due date and in the specified manner, any amount
payable by it under this Deed (including all outstanding interest, costs and expenses) at the place and in the currency in which
it is payable.

 

		7.1.2	Other breach: The Borrower breaches any undertaking given at any time to the Lender or fails to comply with any condition imposed
by the Lender in agreeing to any matter (including any waiver) or fails to perform any obligation it has under this Deed and fails
to rectify the breach or non-compliance within 14 days of the occurrence of the breach or non-compliance.

 

    	5

    	 

    

  

		7.1.3	Insolvency proceedings: Any corporate action, legal proceedings or other procedure or step is taken in relation to any of the
following:

 

		(a)	The suspension of payments, a moratorium of any debts, winding-up, liquidation, dissolution, administration or reorganisation
(by way of a formal or informal arrangement or compromise or otherwise) of the Borrower.

 

		(b)	A composition, assignment or arrangement with any creditor of the Borrower.

 

		(c)	The appointment of a liquidator (other than in respect of a solvent liquidation), receiver, receiver and manager, administrator,
administrative receiver, compulsory manager or other similar person in respect of the Borrower or any of its property.

 

		(d)	Enforcement of any charge, mortgage, pledge or other security interest over any property of the Borrower.

 

		7.1.4	Inability to pay its debts: the Borrower becomes, or admits in writing that it is, or is declared to be, or is deemed under
any applicable law to be, insolvent or unable to pay its debts.

 

		7.1.5	Change in control: The Borrower experiences a Change in Control without obtaining the prior consent of the Lender.

 

		7.1.6	Untrue representations: any representation, warranty or statement made or repeated or deemed to be made or repeated in this
Deed or any accounts or opinion furnished under this Deed is untrue in any material respect when made or repeated or deemed to
be made repeated or furnished (as the case may be).

 

		7.1.7	Unauthorised borrowing: the Borrower obtains further finance from any other person without the prior written consent of the
Lender.

 

		7.1.8	Prior borrowing: any prior borrowing of the Borrower becomes, or becomes capable of being declared, prematurely due and payable
as a result of a default or an event of default howsoever described in any document or instrument relating to that prior borrowing
or any sum payable in respect of any prior borrowing is not paid when due.

 

		7.1.9	Granting Encumbrances: the Borrower grants any Encumbrance in favour of another person without the prior written consent of
the Lender.

 

		7.1.10	Default under existing Encumbrances: the Borrower defaults in fully performing, observing or fulfilling any of the material
terms, covenants or conditions of any Encumbrance relating to any of its assets or any Encumbrance relating to any of its assets
otherwise becomes enforceable.

 

		7.1.11	Crystallisation of security: any Encumbrance which is a floating security over any asset of the Borrower crystallises into,
or otherwise becomes, a fixed or specific security.

 

		7.1.12	Litigation: any litigation, arbitration, criminal or administrative proceedings are current or pending or, to the knowledge
of the Borrower, threatened, which if adversely determined would have a Material Adverse Effect on its business, assets or financial
condition.

 

		7.1.13	Cease business: the Borrower ceases to carry on all or a substantial part of its business.

 

		7.1.14	Failure to comply with laws: the Borrower fails to duly and punctually comply with all statutes and other laws binding on it
which could have a Material Adverse Effect on its ability to perform any of its obligations under this Deed.

 

		7.1.15	Government action: any government body takes any action, or there is any claim or requirement of substantial expenditure or
alteration of activity under any law which may have a Material Adverse Effect on the financial condition of the Borrower, or any
circumstances arise which in the reasonable opinion of the Lender may give rise to such action, claim, requirement or breach.

 

		7.1.16	Material adverse change: any other event or series of events whether related or not (including, without limitation, any material
adverse change in the business assets or financial condition of the Borrower) occurs which in the opinion of the Lender could affect
the ability or willingness of the Borrower to perform, observe and fulfil all or any of its respective obligations under this Deed.

 

Consequences of an Event
of Default

 

		7.2	Following the occurrence of an Event of Default, the Lender may do any of the following:

 

		7.2.1	Declare all Advances and any other amount payable under this Deed as either immediately payable or payable on demand, in which
case they will become so.

 

    	6

    	 

    

  

		7.2.2	Take any other action available to the Lender under this Deed, any other document or at law.

 

		8.	Indemnity

 

		8.1	The Borrower indemnifies the Lender against any loss, liability, cost or expense (including legal costs on a full indemnity
basis) and taxes incurred or suffered because the Borrower fails to comply with its obligations to the Lender under this Deed.

 

		8.2	The Borrower indemnifies the Lender and each of the Lender's agents and employees against any claim or proceeding that is made,
threatened or commenced, and any loss, liability, cost or expense (including legal costs on a full indemnity basis) and taxes they
incur or suffer in exercising or attempting to exercise the Lender's powers under this Deed.

 

		9.	Notices

 

Giving notices

 

		9.1	Any notice or communication given to a party under this Deed is only given if it is in writing and sent in one of the following
ways:

 

		9.1.1	Delivered or posted to that party at its address and marked for the attention of the relevant department or officer set out
in the Summary Provisions.

 

		9.1.2	Emailed to that party at its Email address and marked for the attention of the relevant department or officer as set out in
the Summary Provisions.

 

Change of address or Email
address

 

		9.2	If a party gives the other party 3 business days' notice of a change of its address or Email address, any notice or communication
is only given by that other party if it is delivered, posted or Emailed to the latest address or Email address.

 

Time notice is given

 

		9.3	Any notice or communication is to be treated as given at the following time:

 

		9.3.1	To the Borrower:

 

		(a)	If it is delivered, when it is left at the Borrower’s address;

 

		(b)	If it is sent by post, 2 business days after it is posted; or

 

		(c)	If it is sent by email, as soon as the sender receives from the sender’s email a report of an error free transmission
to the correct Email address.

 

		9.3.2	To The Lender, when it is actually received.

 

		9.4	However, if any notice or communication is given, on a day that is not a Business Day or after 5pm on a Business Day, in the
place of the party to whom it is sent, it is to be treated as having been given at the beginning of the next Business Day.

 

		10.	Goods and services tax

 

Definitions

 

		10.1	In this clause:

 

		a.	words and expressions that are not defined in this Deed but which have a defined meaning in the GST Law have the same meaning
as in the GST Law; and

 

		b.	GST Law has the meaning given to that term in the A New Tax System (Goods and Services Tax) Act 1999.

 

GST Exclusive

 

		10.2	Except as otherwise provided by this clause, all consideration payable under this Deed in relation to any supply is exclusive
of GST.

 

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		11.	Miscellaneous

 

Assignment

 

		11.1	The Lender can assign, transfer and grant security over any of its rights and obligations under this Deed without obtaining
the Borrower’s consent.

 

		11.2	The Borrower can only assign or deal with any of its rights and obligations under this Deed with the Lender's consent.

 

Entire Agreement

 

		11.3	This Deed sets out the entire Deed between the parties in relation to its subject matter. Accordingly, anything (such as correspondence,
negotiations or representations before this Deed is executed or an arrangement or understanding) not reflected in this Deed does
not bind the parties and may not be relied on by them.

 

Evidence

 

		11.4	A certificate signed by the Lender of any amount owing under this Deed or anything else relating to this Deed is conclusive
evidence of what it states, except in the case of obvious error.

 

Counterparts

 

		11.5	This Deed may be executed by each party either executing this Deed or a copy of this Deed which contains the same terms and
this Deed may consist of any number of copies.

 

		11.6	If more than one copy of this Deed is executed by the parties:

 

		11.6.1	The document will take effect on the day this Deed is dated.

 

		11.6.2	Each executed copy of this Deed will be an original and all of the copies together will constitute the same document.

 

Exercise of rights

 

		11.7	A party may exercise a right, power or remedy at its discretion, and separately or concurrently with another right, power or
remedy.

 

		11.8	A single or partial exercise of a right, power or remedy by a party does not prevent a further exercise of that or of any other
right, power or remedy and failure by a party to exercise, or delay by a party in exercising, a right, power or remedy does not
prevent its exercise.

 

Governing law and jurisdiction

 

		11.9	This Deed is governed by the law of the place specified in the Summary Provisions. The parties submit to the non-exclusive
jurisdiction of its courts and courts of appeal from them. The parties will not object to the exercise of jurisdiction by those
courts on any basis.

 

Indemnities

 

		11.10	Each indemnity is a continuing obligation, separate from the other obligations of the parties, and continues after this Deed
ends.

 

		11.11	A party may enforce a right of indemnity at any time (including before it has incurred loss).

 

Severability

 

		11.12	Each provision of this Deed is individually severable. If any provision is or becomes illegal, unenforceable or invalid in
any jurisdiction it is to be treated as being severed from this Deed in the relevant jurisdiction, but the rest of this Deed will
not be affected by the severing of the provision. The legality, validity and enforceability of the provision in any other jurisdiction
will not be affected.

 

    	8

    	 

    

  

Variation

 

		11.13	No variation of this Deed will be of any force or effect unless it is in writing and signed by the Lender.

 

Remedies cumulative

 

		11.14	The rights and remedies conferred by this Deed upon the Lender shall not be deemed exclusive but shall be cumulative and in
addition to all other rights and remedies available to the Lender by law, by virtue of this Deed or any guarantees or any other
documents, Deeds or obligations entered into previously or at any future time by the parties or any other person in respect of
the obligations under this Deed.

 

Moratorium legislation

 

		11.15	To the full extent permitted by law the provisions of all legislation whether existing now or in
the future operating directly or indirectly:

 

		11.15.1	to lessen or otherwise to vary or affect in favour of the Borrower any obligation under this Deed;
or

 

		11.15.2	to delay or otherwise to prevent or prejudicially affect the exercise of rights or remedies conferred
on the Lender by this Deed,

 

are negatived and excluded
from this Deed.

 

		12.	Definitions and interpretation

 

Definitions

 

		12.1	In this Deed each term defined in the Summary Provisions has the meaning provided in the Summary Provisions. The following
definitions also apply:

 

Banking Day means a day on
which trading banks are open for business generally in New South Wales.

 

Change in Control means in
relation to a corporation, a change in any of the following:

 

		(a)	control of the composition of its board of directors;

 

		(b)	control of more than one half of the voting rights attaching to its shares; or

 

		(c)	control of more than one half of its issued share capital, excluding any part of its issued share capital which carries no
right to participate beyond a specified amount in the distribution of either profit or capital.

 

Encumbrance means any mortgage,
pledge, lien, charge, assignment, hypothecation, title retention, trust arrangement, set-off or any security or preferential interest
or arrangement of any kind, or any other right of or arrangement with any creditor to have its claims satisfied prior to other
creditors with, or from the proceeds of, any asset including, but without limitation, any deposit of money by way of security.

 

Event of Default means any
of the events specified in clause 8.17.1.

 

    	9

    	 

    

  

Material Adverse Effect means
a material adverse effect on the business or financial condition of the Borrower.

 

Summary Provisions means
the summary provisions set out at the start of this Deed.

 

Interpretation

 

		12.2	In the interpretation of this Deed, the following provisions apply unless the context otherwise requires:

 

		12.2.1	Headings are inserted for convenience only and do not affect the interpretation of this Deed.

 

		12.2.2	A reference in this Deed to a business day means a day other than a Saturday or Sunday on which banks are open for business
generally in Sydney.

 

		12.2.3	If the day on which any act matter or thing is to be done under this Deed is not a business day, the act matter or thing must
be done on the next business day.

 

		12.2.4	A reference in this Deed to any law, legislation or legislative provision includes any statutory modification, amendment or
re-enactment, and any subordinate legislation or regulations issued under that legislation or legislative provision.

 

		12.2.5	A reference in this Deed to any document or Deed is to that document or Deed as amended, novated, supplemented or replaced.

 

		12.2.6	A reference to a clause, part, schedule or attachment is a reference to a clause, part, schedule or attachment of or to this
Deed.

 

		12.2.7	Where a word or phrase is given a defined meaning, another part of speech or other grammatical form in respect of that word
or phrase has a corresponding meaning.

 

		12.2.8	A word which indicates the singular indicates the plural, a word which indicates the plural indicates the singular, and a reference
to any gender also indicates the other genders.

 

		12.2.9	A reference to the word 'include' or 'including' is to be interpreted without limitation.

 

		12.2.10	A reference to 'deal with' includes selling, leasing, transferring, parting with possession of, otherwise disposing of and
conferring a right or interest on someone else and agreeing to do any of those things, and ‘dealing' and dealing with’
have equivalent meanings.

 

		12.2.11	A reference to 'owing' means actually or contingently owing, and “owe” and “owed” have an equivalent
meaning.

 

    	10

    	 

    

 

Executed as an Deed

 

	Executed by Mariposa Health Limited  (ACN: 134 154 680) in accordance with section 127 of the Corporations Act 2001 (Cth):	
          )

          )

          )

          )
	 
	 	 	 
	 	 	 
	Director	 	Director/Secretary
	 	 	 
	 	 	 Kevin Lynn
	Name (please print)	 	Name (please print)

 

	Executed by PT Soho Industri Pharmasi Ltd  : Ludovic Toulemonde by a duly authorised officer	
          )

          )

          )

          )
	 
	 	 	 
	 	 	 
	Director 	 	Witness: 
	 	 	 
	 	 	
        (1) Piero
        Brambati and

        (2) Yuliana
        Tjhai

	Name (please print)	 	Name (please print)

 

    	11

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