Blum Holdings issues $400K unsecured convertible note with 15% discount

BLUM HOLDINGS, INC.

$400,000 unsecured promissory note issued to an investor on Nov 12, 2024; maturity May 12, 2026.
No stated interest except 10% default interest; no prepayment penalty.
Convertible at lender's election into SAFE or convertible note with 15% discount to future qualified financing.
Note includes warrant coverage and standard representations; not registered under Securities Act.

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