Mitesco, Inc. entered into a lending agreement for a private placement of three promissory notes at issue price of $33,000 per note for gross proceeds of $99,000 on May 13, 2024. The transaction will include participation from returning lender Cavalry Fund I L.P., a fund managed by Cavalry Fund I Management, LLC, AJB Capital Investments LLC and Mercer Street Capital Partners, LLC. The notes have an interest rate of 10% per annum, accrued monthly and payable at maturity.

The note will mature after 12 month period.