N2off Inc. has announced an update regarding its acquisition of MitoCareX Bio Ltd., a private Israeli company. As per the announcement, N2off Inc. has entered into a Fourth Loan Agreement with MitoCareX and L.I.A. Pure Capital Ltd., agreeing to loan $372,000 to MitoCareX. The loan will assist MitoCareX in financing its ongoing costs until the acquisition is finalized. The loan features an interest rate tied to the USD exchange rate fluctuation plus 3%, with a term of six months. In the event that MitoCareX becomes a subsidiary of N2off Inc., any outstanding loan amount will be deducted from future financial allocations to MitoCareX within the first year of the acquisition. Pure Capital has guaranteed the loan's repayment.
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