Limitless X Holdings Inc. (LIMX): debt financing — Limitless X enters $250K promissory note with CEO entity at 15%; issues 500K shares and warrants

Limitless X Holdings Inc.

Loan of $250,000 from EM1 Capital (controlled by CEO Jaspreet Mathur) at 15% fixed annual interest, due July 11, 2026.
Proceeds used for general working capital and growth initiatives; advanced between July 11 and Aug 29, 2025.
As consideration, Company issued 500,000 restricted common shares and warrants for 500,000 shares at $0.80 exercise price.
Warrants have 5-year term, cashless exercise provision, and anti-dilution protections.
Related-party transaction; exempt from registration under Section 4(a)(2) of Securities Act.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Limitless X Holdings Inc. incurred loan of $250,000 with EM1 Capital LLC at 15% fixed per annum maturing 12 months from the Effective Date.

Instrument: loan
Principal: $250,000
Counterparty: EM1 Capital LLC
Rate: 15% fixed per annum
Maturity: 12 months from the Effective Date
Event: incurrence

Exact text from the filing

period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 1.01 Entry into a Material Agreement. $250,000 Promissory Note and Warrant Agreement Effective as of July 11, 2025 (the “Effective Date”), EM1 Capital LLC (“EM1”), an entity controlled by Jaspreet Mathur, Chief Executive

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Source: SEC EDGAR

accession 0001641172-25-018854

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