LXXGF - LexaGene enters into secured convertible note agreement

• Molecular diagnostics company LexaGene ( OTCQB:LXXGF ) has entered secured convertible note agreement with Meridian LGH, an affiliate of an insider of the company, in the aggregate principal amount of up to $1.6M.
• The note bears interest at 12% per annum and matures on March 1, 2023, subject to an increased interest rate of 16% if the company commits an event of default and such default continues, in accordance with the note agreement.
• Company may prepay the note, and any accrued interest, at any time without penalty.
• In the event the company undertakes an equity financing of at least $5M or undertakes a merger, amalgamation, sale of substantially all of its assets or similar corporate transaction.

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