NextTrip secures $3M revolving credit line from Chairman at 12% interest

NextTrip, Inc.

$3M revolving credit facility from Monaco Investment Partners II, LP, controlled by Chairman Donald Monaco; 12% simple interest, maturing May 31, 2027.
Initial advance of $1.045M used to repay $400K cash advance and $645K promissory notes owed to Monaco-affiliated entities.
Line approved by Audit Committee and full Board, including independent members, to address related-party nature.
Company intends to use draws for working capital, marketing, product launches, and technology integration, aiming to limit shareholder dilution.

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