Novo Integrated Sciences continues to work to close SWAG deal

Novo Integrated Sciences provided an update with respect to certain actions and events, as follows: As previously reported, on December 23, 2022, Novo entered into a Share Purchase Agreement with SwagCheck and the shareholders of SWAG, pursuant to which Novo agreed to purchase 100% of SWAG’s outstanding shares. SWAG holds a specific right of purchase of a precious gem collection as provided for in an agreement between SWAG and a Court-appointed Successor Receiver for the United States District Court for the Central District of California. Pursuant to the terms of the SWAG Agreement, as amended, the SWAG Agreement was to close no later than January 10, 2023. Although the SWAG Agreement has not yet closed, the parties continue to work together with the intention of closing the transaction. Between January 5, 2023 and January 16, 2023, the Company issued 2,469,348 common shares to certain warrant holders upon exercise of their warrants. Between January 5, 2023 and January 16, 2023, the Company issued 17,277,700 common shares to certain note holders upon conversion of their notes. As of January 16, 2023, the Company’s issued and outstanding common share count is 59,637,859. The Company and its independent auditor are working diligently to complete the audit for the Company’s fiscal year ended August 31, 2022, and the Company intends to file its Annual Report on Form 10-K in the near future.