---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-24-000010"
form_type: "8-K"
ticker: null
cik: "0001039466"
company_name: "NovAccess Global Inc."
filed_at: "2024-01-02T23:59:59+00:00"
generated_at: "2026-06-07T05:01:56.657356+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# NovAccess Global secures $10.7M financing from Sumner Global; Sumner to gain majority control

## Summary
- Sumner will purchase 33.0M shares at $0.11/share ($3.63M) and lend $7.05M via convertible notes at 10% interest.
- Convertible notes due in 5 years, convertible at $0.11/share; first tranche of $3.05M due Feb 15, 2024, second $4M due Mar 15, 2024.
- CEO's affiliate converts 600 Series B preferred shares into 6M common shares upon closing, eliminating all preferred stock.
- Post-transaction Sumner will hold a majority of outstanding common shares, gaining ability to control shareholder votes.
- Proceeds to fund operations, repay debt, and advance brain tumor immunotherapy (TLR-AD1) pipeline.

## SEC filing metadata
- accession: 0001185185-24-000010
- form_type: 8-K
- cik: 0001039466
- company_name: NovAccess Global Inc.
- filed_at: 2024-01-02T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 5.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1039466/000118518524000010/0001185185-24-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1039466/000118518524000010/novaccess20231031_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-24-000010
- JSON: https://secwatch.observer/filing/0001185185-24-000010.json
- Plain text: https://secwatch.observer/filing/0001185185-24-000010.txt

## Key facts
- Debt Financings
  NovAccess Global Inc. incurred convertible notes of $7.05 million with Sumner Global LLC at 10% a year maturing five-year term.
  - Instrument: convertible notes
  - Principal: $7.05 million
  - Counterparty: Sumner Global LLC
  - Rate: 10% a year
  - Maturity: five-year term
  - Event: incurrence
  source text: ”), pursuant to which Sumner agreed to purchase 33.0 million newly issued shares of our unregistered common stock for $0.11 a share, or $3.63 million in total, and to loan us $7.05 million (collectively, the “ transaction ”). We expect to use this investment to fund operations and repay debt. Sumner is a global company that has created value across a diverse range
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039466/000118518524000010/0001185185-24-000010-index.htm
- Material Agreements
  NovAccess Global Inc. entered into purchase agreement with Sumner Global LLC, an affiliate of Sumner Investment Group Inc. valued at $3.63 million (effective 2023-12-29).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Sumner Global LLC, an affiliate of Sumner Investment Group Inc.
  - Value: $3.63 million
  - Effective: 2023-12-29
  source text: On December 29, 2023, NovAccess Global Inc. entered into a securities purchase agreement (the “ purchase agreement ”) with Sumner Global LLC, an affiliate of Sumner Investment Group Inc. (“ Sumner ”), pursuant to which Sumner agreed to purchase 33.0 million newly issued shares of our unregistered common stock for $0.11 a share, or $3.63 million in total, and to loan us $7.05 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039466/000118518524000010/0001185185-24-000010-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.