SmartKem amends Series A-1 Preferred terms and settles Hewlett dispute, contingent on $4M offering

SmartKem, Inc.

Consent agreement reduces Series A-1 conversion price to $4.34, removes dividends and liquidation preference, effective upon a Qualified Offering raising at least $4M.
Hewlett Fund releases all claims in exchange for 750,000 Class C Warrants, effective at the same time as the Qualified Offering.
Variable-rate transaction ban extended to 18 months after Qualified Offering; lower price issuance threshold set at $4.00 per share.
No Qualified Offering has occurred; if none, amendments and Hewlett Settlement will not take effect.
Consenting holders include AIGH Investment Partners and others; they waived rights and consented to the offering and settlement.

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