Novo Integrated Sciences Signs Agreements for an Unsecured, Non-dilutive Debt Instrument with a Principal Sum of $70,000,000

Apr 27, 2023

Novo Integrated Sciences, Inc. (NASDAQ: NVOS) (the “Company” or “Novo”), today announced the issuance of an unsecured 15-year $70,000,000 promissory note with RC Consulting LLC in favor of SCP Tourbillion Monaco (the “Buyer”), for a lump sum 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.

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