Helius Medical Technologies entered into a securities purchase agreement, selling $1.56 million of unsecured promissory notes at a 20% discount and issuing 1,320,150 shares in a private placement.

Gross proceeds are expected to be $1.3 million. The notes mature on July 24, 2025 or upon the next registered securities offering and carry a 20% interest rate only if a default occurs. Maxim Group acted as placement agent. Directors and officers also signed lock-up agreements restricting stock sales until maturity.