Silo Pharma buys Norsight 'Klone' software IP, paying with warrant for 300,000 shares at $1.51

Silo Pharma, Inc.

• Silo Pharma bought software and IP from Norsight Consulting Inc., including source and object code for web-based tools marketed under the 'Klone' brand, plus trademarks and domain names.
• Consideration was a warrant for up to 300,000 shares at $1.51/share (about $453,000 if fully exercised), cashless-exercise, exercisable April 1, 2027 through Sept 30, 2031.
• Seller's shares are locked up for 12 months; the warrant carries a 4.99% beneficial-ownership blocker that Norsight may raise to 9.99% with 61 days' notice.
• Warrant sold under Section 4(a)(2); Nasdaq rules cap issuance at 19.99% of outstanding shares absent stockholder approval. Norsight President Craig North and Silo CEO Eric Weisblum signed.
• Norsight warrants the software is an original creation, malware-free and non-infringing, with open-source code limited to Exhibit B; its total liability is capped at the warrants' fair market value.