CLEVELAND, OH / ACCESSWIRE / March 1, 2024 / NovAccess Global Inc. (OTCQB:XSNX), a biomedical company developing novel immunotherapies for brain tumor patients, today provided an update on business developments, financing and the 2024 annual meeting.
The previously disclosed $10.7 million financing transaction with Sumner Global LLC remains pending, as Sumner Global has not yet obtained the funding necessary to close the transaction. To provide interim working capital, the Company's primary creditor AJB Capital Investments, LLC and another funding source have entered into separate borrowing arrangements with NovAccess Global. Details of these transactions have been filed under Form 8-K with the Securities and Exchange Commission (SEC) on February 28th, 2024.
NovAccess Global filed its fiscal 2023 annual report on Form 10-K with the SEC on February 15, 2024 and its financial results for the first quarter of fiscal 2024 on Form 10-Q on February 27, 2024.
The Company is hosting a Virtual Annual Meeting of Shareholder on Wednesday, May 6th, 2024 at 12:00 p.m. Eastern Time. Shareholders of record as of April 1st, 2024 will be able to vote and ask questions online during the meeting. If you would like to attend the virtual meeting and have your control number, please log in 15 minutes prior to the start of the meeting using the link to be made available on investor relations/presentations section of the Company's website. Shareholders will not be able to attend in person and are encouraged to vote their shares prior to the annual meeting.
The Company also announced that Dr. Dwain K. Irvin, NovAccess Global's Chief Executive Officer, and Dr. Christopher Wheeler, Ph.D., President, StemVax Therapeutics Inc., a division of NovAccess Global, will be presenting at the World Brain Mapping Foundation (WBMF) Annual World Congress, to be held on March 14-17, 2024, in Los Angeles, CA. For additional information on the event, please visit https://www.worldbrainmapping.org/annual-congress/.
The World Brain Mapping Foundation's Annual Congress event is designed to recognize pioneers in brain mapping, health policy, neuroscience, and mental health philanthropy, amongst others, while connecting to its mission and bringing its message of neurotech innovation and innovation to the masses. The event also recognizes students, young investigators, and leaders in the field of brain mapping and therapeutics who have made significant contributions as trailblazers. Gala participants include major philanthropists, celebrities, NHL/NBA/MLS/NHF, leading scientists, physicians, neurosurgeons, and neurotechnology.
At the annual congress, Dr. Wheeler will be co-chairing the Alzheimer's and Dementia track and chairing the session for Alzheimer's Non-Imaging Biomarkers session. Dr. Wheeler also will be giving two separate talks, including one on sex-disparate neurodevelopmental pathology and cognitive decline in mice lacking a T cell gene, and another on age-related CD8 T cells in sporadic Alzheimer's, with additional discussions on March 16 and 17. Dr. Irvin will be presenting on NovAccess Global's TLR-AD1: A Novel Immunotherapeutic Approach to Treating Brain Tumors.
About The World Brain Mapping Foundation and The Society for Brain Mapping and Therapeutics (SBMT)
The World Brain Mapping Foundation focuses on helping wounded soldiers, brain and spine cancers, neurodegenerative disorders (Parkinson's, Alzheimer's, ALS, MS, etc.), and neuropsychiatric and spine disorders. The event includes exciting entertainment and networking with celebrities and world-renowned figures. You will enjoy an excellent ambiance and fine cuisine in a great evening of celebration full of leisure while impacting the mission of a tremendous non-profit.
The Society for Brain Mapping and Therapeutics (SBMT) is a non-profit society organized for the purpose of encouraging basic and clinical scientists who are interested in areas of Brain Mapping, engineering, stem cell, nanotechnology, imaging and medical device to improve the diagnosis, treatment and rehabilitation of patients afflicted with neurological disorders.
The Annual World Congress is supported by the US Government as well as many prominent US and international Universities and institutions. The program will represent state-of-the-art science and technology in the field of neuroscience, engineering, neurosurgery, psychiatry, psychology, molecular biology, neurology, radiology and oncology.
This world-class scientific event will bring together physicians, scientists, policy makers, funding agencies and industry to further advance the applications in brain and spinal cord mapping and image guided therapies (operative and non-operative). The meeting is designed to facilitate integration of nanotechnology, cellular therapy with medical devices and imaging. The theme of the meeting is Breaking Boundaries of Science, Technology, Medicine, Art, and Healthcare Policy.
Since its inception in 2010, The World Orphan Drug Congress has solidified its position as the largest rare disease and orphan drug conference, globally. Over 3 days, participants will have the opportunity to hear from hundreds of speakers across a multitude of themes which provide a platform to engage in networking opportunities and customize their experience at the congress.
About NovAccess Global
NovAccess Global is a biomedical company accelerating novel cancer diagnostics and therapeutics. Our goal is to discover, develop and bring to market novel and innovative medicine and medical devices to improve the quality of care for cancer and neurological patients.
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Forward-Looking Statement
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's disclosures or filings with the Securities Exchange Commission. Additional investments by Sumner Global are subject to various contingencies, including Sumner obtaining the funding required to make the additional investments, and may not occur when expected or at all. You are further cautioned that penny stocks and stocks of smaller companies like NovAccess Global Inc. are inherently volatile and risky and that no investor should buy this stock unless they can afford the loss of their entire investment. The Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date thereof.
Investor Relations Contact:
Jordan Darrow
Darrow Associates
631-766-4528
jdarrow@darrowir.com
SOURCE: NovAccess Global Inc.
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