HeartSciences Inc. has entered into Amendment No. 8 to its Loan and Security Agreement with Front Range Ventures LLC (FRV), extending the maturity date of a $500,000 promissory note. The original loan, executed on April 24, 2020, has undergone seven prior amendments. The latest agreement, dated September 29, 2026, modifies the terms of the Amended and Restated Secured Promissory Note.
The new maturity date, referred to as the “Maturity Date,” is set for the earlier of two specific events: two business days following the closing of a proposed business combination between HeartSciences and Fortitude Mining Holdings, Inc., announced on June 23, 2026, or January 29, 2027. The company is required to pay accrued unpaid interest as of September 30, 2026, by that date. All accrued interest due after September 30, 2026, is also due on the Maturity Date.
Under the terms of the Amended Loan Agreement, HeartSciences retains the right to repay the outstanding principal amount in its sole discretion at any time prior to the Maturity Date. However, any partial repayment must be at least $50,000 and must first be applied to accrued interest before reducing the principal balance.
