CLS Holdings USA, Inc. announced private placement of secured promissory note agreement for the aggregate gross proceeds of $1,350,000 on February 22, 2024. The company has issued $450,000 secured promissory note to FK Legacy Trust, $300,000 secured promissory note to Patrick Haldan, $350,000 secured promissory note to LEM Investments LLC and $250,000 secured promissory note to Ian Whitmore. All promissory notes carry interest rate of 12% calculated based on 360 day year. All notes mature on or before February 28, 2026. All notes are secured by all otherwise unencumbered assets of the company or its subsidiaries permitted to be pledged by law. The company issued the Notes pursuant to a private placement under Rule 506(b) of the Securities Act of 1933, as amended (the ?Act?). The purchasers of the Notes are all accredited investors, as defined in Rule 501(a) of the Act.

On March 7, 2024, the company announced that it has raised $1,350,000 in funding pursuant to exemption provided under Regulation D. The transaction included participation from 4 investors.