$Novo Integrated Sciences (NVOS.US)$ received an Underwritin...

received an Underwriting Clearance Notice from RC Consulting Group LLC informing Novo that the underwriting analysis process and compliance review for the transaction between Novo and RC Consulting LLC in favor of SCP Tourbillion Monaco (the “Buyer”), dated April 26, 2023, has been affirmed and approved for completion resulting in the recommendation to proceed with the transaction as contemplated.

The affirming position has resulted in a “Clear to Close” status for the transaction of an unsecured 15-year $70,000,000 promissory note with the Buyer for debt funding of $57,000,000. The note provides for a yield (non-compounding) of 1.52% (zero coupon) per annum and a maturity date 15 years from the date of issuance. The Note is unsecured and there is no provision for the conversion of debt, issuance of any class of shares, or the grant of any warrants by the Company to the Buyer.

(shared from Penny Pirates)