NightFood Holdings Inc (NGTF) has released an update to notify the public and investors about its financial commitment initiation.
On January 24, 2024, the Company sold a Promissory Note to Mast Hill Fund, L.P. for $388,300, with the proceeds aimed exclusively for operational expenses and operating capital for Future Hospitality Ventures Holdings, LLC ahead of a planned acquisition. The note matures in 12 months, when all amounts including interest become payable, and features a right for Mast Hill to convert the debt to common stock at $0.033 per share. The agreement restricts the Company’s financial activities and includes indemnity provisions for Mast Hill, with full details available in the relevant exhibits to the Current Report on Form 8-K.
For further insights into NGTF financials, check out TipRanks’ Financials page.
