Artelo Biosciences, Inc. has announced the completion of two significant financing agreements, securing a total of $350,300 through the issuance of bridge notes. The first agreement, known as the Vanquish Purchase Agreement, involves a 12% bridge note with an aggregate principal amount of $237,300, which includes an original issue discount of $27,300, resulting in a purchase price of $210,000. The second agreement, the Boot Purchase Agreement, involves a similar structure with a bridge note totaling $113,000, including a $13,000 original issue discount, leading to a purchase price of $100,000. Both notes are set to mature on January 15, 2027, and the company has the option to prepay them without penalty. The proceeds from these notes are intended for general working capital purposes, which is crucial for maintaining liquidity as the company continues its operations. The agreements also stipulate that in the event of default, the notes could convert into shares of common stock, subject to certain conditions. This financing is expected to provide Artelo with the necessary capital to support its ongoing projects and operational needs, reflecting a strategic move to bolster its financial position in a competitive market.

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