Item 1.01 Entry into a Material Definitive Agreement.
On March 13, 2023, NovAccess Global Inc. ("NovAccess," the "company" or "we")
entered into non-qualified stock option agreements and granted vested ten-year
options to purchase shares of the company's common stock for $0.175 a share, the
closing price on the grant date. We issued options to purchase a total of
3,542,857 shares as follows: (a) 857,143 to each of our independent directors,
Jason M. Anderson and John A. Cassarini; (b) 428,571 to Neil J. Laird, our chief
executive officer, and 571,429 to Dr. Christopher Wheeler, president of our
StemVax Therapeutics subsidiary; (c) 57,143 to each of our scientific advisory
board members; and (d) the remaining 542,857 to staff members and other
officers.
Item 3.02 Unregistered Sales of Equity Securities.
The disclosure included under Item 1.01 above is incorporated by reference to
this Item 3.02. The issuances of the stock options to our independent directors,
officers, scientific advisory board members, and staff were exempt from
registration under Section 4(a)(2) of the Securities Act of 1933.
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