NovAccess Global says financing transaction with Sumner remains pending

NovAccess Global provided an update on business developments, financing and the 2024 annual meeting. The previously disclosed $10.7 million financing transaction with Sumner Global LLC remains pending, as Sumner Global has not yet obtained the funding necessary to close the transaction. To provide interim working capital, the Company’s primary creditor AJB Capital Investments, LLC and another funding source have entered into separate borrowing arrangements with NovAccess Global. NovAccess Global filed its fiscal 2023 annual report on Form 10-K with the SEC on February 15, 2024 and its financial results for the first quarter of fiscal 2024 on Form 10-Q on February 27, 2024. The Company is hosting a Virtual Annual Meeting of Shareholder on Wednesday, May 6th, 2024 at 12:00 p.m. Eastern Time. Shareholders of record as of April 1st, 2024 will be able to vote and ask questions online during the meeting. If you would like to attend the virtual meeting and have your control number, please log in 15 minutes prior to the start of the meeting using the link to be made available on investor relations/presentations section of the Company’s website. Shareholders will not be able to attend in person and are encouraged to vote their shares prior to the annual meeting.