Chariot (ASX:CC9) has executed a letter of amendment to the convertible note agreement with US-based investor Obsidian Global GP, according to a Wednesday Australian bourse filing.

Under the amendment, Obsidian has agreed to extend the non-conversion and placement share deferral period to July 13 from June 1, and it may now only elect to convert convertible securities or request the issue of placement shares on or after July 13 and until maturity.

The Company has agreed to issue 1 million fully paid ordinary shares to Obsidian as consideration for extending the non-conversion period and 750,000 fully paid ordinary shares to consultant Max Wealthy International for facilitating and negotiating the non-conversion period extension.

The shares will rank equally with the existing fully paid ordinary shares on issue, will be issued without shareholder approval, and are expected to be quoted on or around June 11.

The company's shares fell nearly 3% in recent Wednesday trade.