Novo Integrated Sciences, Inc entered into a securities purchase agreement and issued a secured convertible promissory note principal sum of $6,210,000 with an original issue discount of $660,000 for a gross proceeds of $5,500,000 on April 5, 2024. The transaction included participation from new investor, Streeterville Capital, LLC. The notes bear interest rate of 10.9% per annum and matures on April 8, 2025.

The Holder may convert the Note into the Company?s common stock on any trading day that any intraday trade price of the Common Stock is 10% greater than the closing trade price on the previous trading day. With respect to any Voluntary Conversion, the conversion price is equal to 85% of the lowest daily volume weighted average price of the Common Stock on any trading day during the five 5 trading day period prior to the respective conversion date, subject to adjustment as provided in the Note as well as beneficial ownership limitations.