NovAccess Global Inc.: debt financing — NovAccess enters $29,444 additional loan from AJB Capital, extends warrant expirations by two years

NovAccess Global Inc.

Additional $29,444 loan added to existing February 2022 note; 10% OID and 10% interest.
$9,000 funded immediately for 2023 audit costs; remaining $17,500 to be funded by mutual agreement.
Expiration dates of nine warrants (covering 8,250,000 shares) extended by two years.
Loan proceeds increase debt and potential dilution from extended warrants.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

NovAccess Global Inc. incurred loan of $29,444 with AJB Capital Investments, LLC at interest at 10% per annum.

Instrument: loan
Principal: $29,444
Counterparty: AJB Capital Investments, LLC
Rate: interest at 10% per annum
Event: incurrence

Exact text from the filing

Pursuant to the December 29, 2023 letter agreement, AJB agreed to loan us an additional $29,444, which will be added to the principal of the February 2022 note. This $29,444 loan has an original interest discount of 10% and bears interest at 10% per annum.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NovAccess Global Inc. entered into letter agreement with AJB Capital Investments, LLC valued at $29,444 (effective 2023-12-29).

Action: entry
Counterparty: AJB Capital Investments, LLC
Value: $29,444
Effective: 2023-12-29

Exact text from the filing

On December 29, 2023, NovAccess Global Inc. (“NovAccess,” the “company” or “we”) entered into a letter agreement (the “letter agreement”) with AJB Capital Investments, LLC (“AJB”).

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283 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001185185-24-000042

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