Oncotelic issues $605K convertible note to Mast Hill; uses up to $250K to repay prior debt

Oncotelic Therapeutics, Inc.

Issued $605,000 convertible promissory note to Mast Hill Fund, LP at 12% interest, convertible at $0.10 per share.
Also issued 3,025,000 warrants with exercise price of $0.20 per share.
Net gross proceeds to company up to $250,000 used to repay prior notes from Talos and FirstFire.
Finder's fee of 10% of gross proceeds and 10% warrant coverage payable to JH Darbie & Co.
Conversion and warrants could cause significant dilution; maturity one year from issuance.

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