UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 18, 2025
N2OFF, Inc.
(Exact name of registrant as specified in its charter)
| Nevada | 001-40403 | 26-4684680 | ||
|
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
|
HaPardes 134 (Meshek Sander) Neve Yarak, Israel |
4994500 | |
| (Address of principal executive offices) | (Zip Code) |
(347) 468- 9583
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of exchange on which registered | ||
| Common Stock, par value $0.0001 per share | NITO | The Nasdaq Capital Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Agreement
Securities Purchase and Exchange Agreement
As previously disclosed in its Current Report on Form 8-K filed on February 26, 2025, N2OFF, Inc. (the “Company”) entered into a Securities Purchase and Exchange Agreement (the “Agreement”) with MitoCareX Bio Ltd., a private company incorporated under the laws of the State of Israel (“MitoCareX”), SciSparc Ltd., a public company incorporated under the laws of the State of Israel (“SciSparc”), Dr. Alon Silberman (“Alon”) and Prof. Ciro Leonardo Pierri (“Ciro”, together with SciSparc and Alon, the “Sellers”, and together with the Company, the “Parties”) pursuant to which the Company will acquire from each of the Sellers their respective ordinary shares, nominal (par) value NIS 0.01 each, of MitoCareX, thereby resulting in MitoCareX becoming a wholly-owned subsidiary of the Company.
On May 18, 2025, the Parties amended the Agreement (the “Amendment”) by extending the exclusivity period set forth in Section 1.08 of the Agreement by an additional ninety (90) days, such that either Party may terminate the Agreement in the event that the Closing Date (as defined therein) shall not have occurred within one hundred and eighty (180) days of the date of the Agreement. All other terms of the Agreement remain in full force and effect.
The description of the Amendment set forth above is qualified in its entirety by reference to the full text of the Amendment, which is filed hereto as Exhibit 10.1, and incorporated herein by reference.
Third Loan Agreement
On May 22, 2025, the Company entered into a third loan agreement (the “Third Loan Agreement”) with MitoCareX, and L.I.A. Pure Capital Ltd., an Israeli company (“Pure Capital”) pursuant to which the Company agreed to loan $250,000 (the “Principal”) to MitoCareX with interest accruing at an annual rate pursuant to Section 3(j) of the Income Tax Ordinance, published by the Israel Tax Authority for loans in US dollars, which is currently the USD exchange rate fluctuation until the maturity date plus 3%, as may be adjusted from time to time ( the “Loan”). The term of the Loan is six months with repayment of Principal and accrued interest due at maturity. In the event of a transaction whereby MitoCareX becomes a subsidiary of the Company, any amount outstanding under the Loan will be deducted from any future amount allocated by the Company to MitoCareX during the first year following the foregoing transaction. Pure Capital has agreed to guarantee the repayment of the Loan to MitoCareX. The purpose of the Third Loan Agreement is to assist MitoCareX with financing its ongoing costs and obligations until closing of the Agreement has occurred.
The foregoing description of the Third Loan Agreement is not complete and is qualified in its entirety by reference to the full text of the Third Loan Agreement, a copy of which is filed hereto as Exhibit 10.2, and is incorporated herein by reference.
Amendments to MitoCareX Loan Agreements
The Company previously entered into two loan agreements with MitoCareX on December 22, 2024, and on March 12, 2025 (the “First Loan Agreement” and the “Second Loan Agreement”, respectively) pursuant to which in each loan, the Company provided a loan of $250,000 to MitoCareX under substantially the same terms as the Third Loan Agreement.
On May 22, 2025, the Company, MitoCareX, and Pure Capital entered into amendments to the First Loan Agreement and to the Second Loan Agreement (the “Loan Amendments”), extending the term of each loan by 180 days.
The foregoing description of the Loan Amendments is not complete and is qualified in its entirety by reference to the full text of the Loan Amendments, copies of which are filed hereto as Exhibit 10.3 and Exhibit 10.4 and are incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 10.1 | Amendment to the Securities Purchase and Exchange Agreement, dated May 18, 2025 | |
| 10.2 | ||
| 10.3 | ||
| 10.4 | Amendment to Loan Agreement, dated March 12, 2025, among the Company, MitoCareX Bio Ltd. and L.I.A. Pure Capital Ltd. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| N2OFF, Inc. | ||
| Date: May 22, 2025 | By: | /s/ David Palach |
| Name: | David Palach | |
| Title: | Chief Executive Officer | |
Exhibit 10.1
AMENDMENT NO. 1 TO SECURITIES PURCHASE AND EXCHANGE AGREEMENT
This AMENDMENT No.1 (the “Amendment”) to the Securities Purchase and Exchange Agreement, dated February 25, 2025 (the “Agreement”), by and among N2OFF, Inc., a Nevada corporation (the “Purchaser”), MitoCareX Bio Ltd., a private company incorporated under the laws of the State of Israel (“MitoCareX”), SciSparc Ltd., a public company incorporated under the laws of the State of Israel (“SciSparc”), Dr. Alon Silberman, Israeli ID Number 033264292 (“Alon”), and Prof. Ciro Leonardo Pierri, bearer of Italian passport No. YA7291658 (“Ciro”, and together with SciSparc and Alon, the “Sellers”), is made by and among the Purchaser, MitoCareX and the Sellers as of May 18, 2025. Each of N2OFF, MitoCareX, SciSparc, Alon and Ciro shall be referred to as a “Party” and collectively, the “Parties”.
WHEREAS, pursuant to the Agreement the Purchaser will acquire from each of the Sellers their respective ordinary shares, nominal (par) value NIS 0.01 each, of MitoCareX (the “Ordinary Shares”), thereby resulting in MitoCareX becoming a wholly-owned subsidiary of the Purchaser, in accordance with the terms provided herein;
WHEREAS, pursuant to Section 1.08 of the Agreement, either Party may terminate the Agreement in the event that the Closing Date (as such term is defined in the Agreement) shall not have occurred within ninety days of February 25, 2025, i.e., by May 26, 2025 (the “Outside Date”); and
WHEREAS, the Parties wish to amend the Agreement to extend the Outside Date;
NOW THEREFORE, in consideration of the mutual promises and covenants set forth herein, the parties hereby agree as follows:
Capitalized terms used and not otherwise defined herein shall have the meaning ascribed thereto in the Agreement.
| 1. | Extension of Outside Date |
The Parties hereby amend the Agreement by extending the Outside Date set forth in Section 1.08 of the Agreement by ninety (90) days, so that either Party may terminate the Agreement in the event that the Closing Date shall not have occurred within one hundred and eighty (180) days of the date of the Agreement; provided, however, that the right to terminate this Agreement pursuant to said Section 1.08 shall not be available to any Party (i) whose actions or omissions have been a principal cause of, or primarily resulted in, the failure of the Closing to occur on or before such date and such action or failure to act constitutes a breach of the Agreement or (ii) that is in material breach of the Agreement, all as provided for in the Agreement.
| 2. | Miscellaneous |
| 2.1. | The Agreement (including all Exhibits and Schedules thereto), as amended by this Amendment constitute the entire agreement among the Parties hereto pertaining to the subject matter thereof and hereof. |
| 2.2. | Except as otherwise amended hereby, the Agreement (including all Exhibits and Schedules thereto) shall remain in full force and effect. In the event of any inconsistency between the provisions of this Amendment and the terms of the Agreement, the provisions of this Amendment shall prevail. |
IN WITNESS WHEREOF, the undersigned have caused this Amendment to be executed by their respective duly authorized officers to be effective as of the date first above written.
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| N2OFF, INC. | ||
| By: | /s/ David Palach | |
| Name: | David Palach | |
| Title: | CEO | |
| SCISPARC LTD. | ||
| By: | /s/ Oz Adler /s/ Amitay Weiss | |
| Name: | Oz Adler Amitay Weiss | |
| Title: | CEO, CFO Chairman | |
| MITOCAREX BIO LTD. | ||
| By: | /s/ Adi Zuloff-Shani /s/ Alon Silberman | |
| Name: | Adi Zuloff-Shani Alon Silberman | |
| Title: | Director Director | |
| ALON SILBERMAN | ||
| By: | /s/ Alon Silberman | |
| Name: | Alon Silberman | |
| CIRO LEONARDO PIERRI | ||
| By: | /s/ Ciro Leonardo Pierri | |
| Name: | Ciro Leonardo Pierri | |
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Exhibit 10.2
LOAN AGREEMENT
This Agreement (the “Agreement”) is effective as of May 22, 2025 by and between MitoCareX Bio Ltd., a private company incorporated under the laws of the State of Israel, whose principal address is at 40 Gordon Street, Givatayim, Israel (the “Company”) and the lender, who will provide the Company a loan amount as set forth in Schedule A (the “Lender”) and such entity listed on Schedule B hereto (the “Guarantor”). The Company, the Lender and the Guarantor are referred to collectively as the “Parties” and individually as a “Party”.
WHEREAS, the Company desires funding to cover its immediate obligations and working capital requirements; and
WHEREAS, the Lender has agreed to provide the amount as set forth in Schedule A to the Company in the form of a loan (the “Loan”), subject to the terms and conditions of this Agreement.
NOW, THEREFORE, THE PARTIES HEREBY AGREE AS FOLLOWS:
| 1. | Preamble |
The preamble to this Agreement shall constitute an integral part hereof.
| 2. | Terms of the Loan |
| 2.1 | The Lender hereby commits to provide the Company a Loan in the aggregate amount of USD 250,000 (Two Hundred and Fifty Thousands United States Dollars) as set forth in Schedule A (the “Principal Amount”), for a period of six (6) months following the date the Principal Amount is provided to the Company (the “Maturity Date”). The Principal Amount shall be provided to the Company immediately following the date of this Agreement. | |
| 2.2 | The Principal Amount shall bear interest at an annual rate in accordance with the rate published by the Israel Tax Authority pursuant to section 3(j) of the Income Tax Ordinance, for loans in USD, which is currently the USD exchange rate fluctuation until the Maturity Date plus 3%, as may be adjusted from time to time (the “Interest”, and together with the Principal Amount, the “Loan Amount”). | |
| 2.3 | The Interest accrued on the Principal Amount shall be repaid to the Lender on the Maturity Date. | |
| 2.4 | In the event of the closing of a transaction in which the Company becomes a subsidiary of the Lender (the “Transaction”), the Loan Amount shall be deducted from the amount to be allocated by the Lender to the Company during the first year following the Transaction. | |
| 2.5 | The Company shall be entitled to voluntary prepay the Loan Amount (for the avoidance of doubt, including the Interest) in whole or in part, prior to Maturity Date only with the prior written approval of the Lender. |
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| 3 | Guaranty |
| 3.1 | Subject to the limitation set forth below, the Guarantor hereby absolutely, irrevocably and unconditionally guarantees to Lender the prompt payment of the Loan Amount in full when due in accordance with the terms of this Agreement. The guaranty in this Section 3 (this “Guaranty”) is a guaranty of payment and not of collection and is a continuing guaranty and shall apply to all of the obligations whenever arising. | |
| 3.2 | The obligations of the Guarantor hereunder are absolute and unconditional, irrespective of the value, genuineness, validity, regularity or enforceability of this Agreement or any other agreement or instrument referred to herein, to the fullest extent permitted by applicable law, irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, each of which are hereby waived. | |
| 3.3 | The Guarantor expressly waives to the fullest extent permitted by applicable law: (a) notice of acceptance of this Guaranty by Lender and of all extensions of credit to the Guarantor by Lender; (b) presentment and demand for payment or performance of any of the Obligations; (c) notice of Lender obtaining, amending, substituting for, releasing, waiving or modifying of the Principal Amount, (d) all other notices to which the Guarantor might otherwise be entitled. |
| 4 | Representations and Undertakings of the Company |
The Company hereby represents and warrants to the Lenders as follows:
| 4.1 | The Company is an entity duly organized, validly existing and in good standing under the laws of the State of Israel. | |
| 4.2 | The Company has all requisite power and authority to execute and deliver this Agreement and to consummate the transactions and perform its obligations contemplated hereby. | |
| 4.3 | This Agreement has been duly and validly authorized, executed and delivered by the Company and it constitutes a binding obligation of the Company, enforceable against it in accordance with the applicable laws of the State of Israel and (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or other laws of general application relating to or affecting the enforcement of creditors’ rights generally, and (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies. | |
| 4.4 | The execution of this Agreement and the performance of any of the transactions contemplated by it do not and shall not contravene or constitute a default under, or cause to be exceeded, any limitation on the Company or the powers of its directors imposed by or contained in. |
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| 4.5 | The entry into this Agreement by the Company does not conflict with: (i) any applicable law; (ii) the articles of association of the Company or any of its other constitutional documents; or (iii) any agreement which it is a party or under which it is bound. | |
| 4.6 | No consent, approval, order or authorization of any third party, or registration, qualification, designation, declaration or filing with governmental authority is required on the part of the Company in connection with the consummation of the transactions contemplated by this Agreement. | |
| 4.7 | There is no action, suit, claim, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending against or, to the knowledge of the Company, threatened against the Company. The Company is not subject to any order, writ, judgment, injunction, decree or award of any court or any governmental authority. | |
| 4.8 | The Company has not been advised, nor does the Company have reason to believe, that it is not conducting its business in all material respects, in compliance with all applicable laws, rules and regulations of the jurisdictions in which it is conducting its business. | |
| 4.9 | No insolvency proceedings have been commenced by, or have been threatened against the Company, and there has been no other event that, to the knowledge of the Company, could be deemed an insolvency event or which could be classified as insolvent pursuant to the Insolvency and Financial Rehabilitation Law 5778-2018 or any other applicable law |
| 5 | Representations and Warranties of the Guarantor |
The Guarantor hereby represents and warrants to the Lenders as follows:
| 5.1 | The Guarantor is an entity duly organized, validly existing and in good standing under the laws of the State of Israel. | |
| 5.2 | The Guarantor has all requisite power and authority to execute and deliver this Agreement and to consummate the transactions and perform its obligations contemplated hereby. | |
| 5.3 | The execution, delivery, and performance of this Agreement is within the Guarantor’s respective powers (as applicable), have been duly authorized, and are not in conflict with nor constitute a breach of any provision contained in Guarantor’s organizational documents, nor will they constitute an event of default under any material agreement by which Guarantor is bound. The Guarantor is not in default under any agreement by which it is bound, except to the extent such default would not reasonably be expected to cause a material adverse effect on the business or assets or properties of the Guarantor. | |
| 5.4 | The fair salable value (taken on a going concern basis) of the Guarantor’s assets (including goodwill and uncalled capital commitments minus disposition costs) exceeds the fair value of its liabilities; the Guarantor is not left with unreasonably small capital after the transactions in this Agreement; and the Guarantor is able to pay its debts (including trade debts) as they mature. |
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| 5.5 | The Guarantor has good title to its assets, free and clear of any and all liens except (1) liens existing prior to the commencement date of this Agreement and (2) liens for taxes, fees, assessments or other government charges or levies, either (i) not due and payable or (ii) being contested in good faith and for which the Guarantor maintains adequate reserves on its books in respect to the Loan Amount. | |
| 5.6 | No consent, approval, order or authorization of any third party, or registration, qualification, designation, declaration or filing with governmental authority is required on the part of the Guarantor in connection with the consummation of the transactions contemplated by this Agreement. | |
| 5.7 | There is no action, suit, claim, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending against or, to the knowledge of the Guarantor, threatened against the Guarantor. The Guarantor is not subject to any order, writ, judgment, injunction, decree or award of any court or any governmental authority. | |
| 5.8 | No insolvency proceedings have been commenced by, or have been threatened against the Guarantor, and there has been no other event that could be deemed an insolvency event or which could be classified as insolvent pursuant to the Insolvency and Financial Rehabilitation Law 5778-2018 or any other applicable law. |
| 6 | Taxes |
Each Party shall bear its own tax liability (including any withholding tax, if any), deriving from all rights and benefits granted under this Agreement, including without limitation all present or future taxes, levies, deductions, penalties, fines, or similar liability under any applicable law.
| 7 | Expenses |
Each Party will bear its own legal fees and any other expenses with respect to this Agreement.
| 8 | Confidentiality |
Each Party hereto agrees to: (a) subject to the reporitng requirements of Lender and the obligations relating thereto, keep the existence of this Agreement and all matters contained herein strictly confidential and not to disclose them, except to their board members, officers and shareholders, and their legal, accounting and other advisers; (b) to consult with each other and agree on desirability, timing and substance of any public announcement or disclosure to the public relating to the Agreement, subject to any applicable law or requirement by any authority.
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| 9 | Entire Agreement; Amendment |
The Parties acknowledge and agree that this Agreement is the entire complete and exclusive statement of their agreement relating to the subject matter hereof and supersedes all other proposals (whether oral or written), understandings, representations, conditions, and other communications between the Parties relating hereto. This Agreement may be amended only by a subsequent writing that specifically refers to this Agreement and is signed by all Parties, and no other act, document, usage, or custom shall be deemed to amend this Agreement.
| 10 | Governing Law; Dispute Resolution |
This Agreement shall be governed by and construed exclusively in accordance with the laws of the State of Israel. Any and all disputes arising out of or in connection with the execution, interpretation, performance, or non-performance of this Agreement, that are not resolved amicably and in good faith by the Parties, shall be resolved by the competent courts in Tel-Aviv, Israel.
| 11 | Assignment |
Neither Party may assign any of its rights or obligations under this Agreement without the express prior written consent of the other Parties.
| 12 | Waivers |
A failure or delay in exercising a right or remedy provided by this Agreement or by law does not constitute a waiver of the right or remedy or a waiver of other rights or remedies. No single or partial exercise of a right or remedy provided by this Agreement or by law prevents further exercise of the right or remedy or exercise of another right or remedy.
| 13 | Further Assurance |
Each Party shall do and execute, or arrange for the doing and executing of, each necessary act, document and thing reasonably within its power to implement this Agreement.
| 14 | Notices |
All notices, certificates, acknowledgements and other responses hereunder shall be in writing and shall be deemed properly delivered after one (1) business day if delivered by e-mail as follows: if to the Company alon.silberman@mitocarexbio.com, if to the Lender david@n2off.com and if to the Guarantor kfir@shremzilberman.com, or seven (7) business days after being duly mailed by registered mail to the other Party.
| 15 | Severability |
If any term or provision of this Agreement is found to be illegal or unenforceable, the validity of the remainder of the Agreement will remain in full force and effect.
| 16 | Counterparts |
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. Facsimile signatures shall be binding as original signature.
[remainder of page intentionally left blank- signature page follows]
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IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their duly authorized signatories identified below as of this 22nd day of May 2025.
| MITOCAREX BIO LTD. | ||
| By: | /s/Alon Silberman | |
| Name: | Alon Silberman | |
| Title: | Director | |
| L.I.A PURE CAPITAL LTD. | ||
| By: | /s/ Kfir Silberman | |
| Name: | Kfir Silberman | |
| Title: | CEO | |
| N2OFF, INC. | ||
| By: | /s/ David Palach | |
| Name: | David Palach | |
| Title: | CEO | |
[signature page to N2Off – MitocareX Loan Third Loan Agreement May 22, 2025
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Schedule A
List of Lenders
| Lender Name | Amount of the Loan (in USD) | |
| N2OFF, Inc company# 26-4684680 | 250,000 | |
| TOTAL | 250,000 |
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Schedule B
List of Guarantors
| Lender Name | Amount Guaranteed (in USD) | |
| L.I.A. Pure Capital Ltd. | 250,000 | |
| TOTAL | 250,000 |
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Exhibit 10.3
AMENDMENT TO LOAN AGREEMENT
Amendment Executed on: May 22, 2025
This AMENDMENT TO LOAN AGREEMENT (this “Amendment”) to the Loan Agreement dated December 22, 2024 (the “Agreement”) is entered into on May 22, 2025 (the “Effective Date”), by and between MitoCareX Bio Ltd, (the “MitoCareX” or the “Company” as defined in the Agreement), L.I.A Pure Capital Ltd. (“Pure Capital”, or the “Guarantor” as defined in the Agreement), and N2OFF, Inc. (“N2OFF” or the “Lender” as defined in the Agreement), (Each of them shall be referred to herein from time to time as a “Party” or collectively as the “Parties”).
Capitalized terms used but not otherwise defined herein have the meanings set forth in the Agreement.
R E C I T A L S
WHEREAS, the Parties has entered into the Agreement;
WHEREAS, the Parties wish to amend the Agreement as set forth herein effective as of the Effective Date.
NOW, THEREFORE, the Parties agree as follows:
Section 2.1 Term of Loan shall be deleted in its entirety and replaced with the following:
“The Lender hereby commits to provide the Company a Loan in the aggregate amount of USD 250,000 (Two Hundred and Fifty Thousands United States Dollars) as set forth in Schedule A (the “Principal Amount”), for a period of one (1) year following the date the Principal Amount is provided to the Company (the “Maturity Date”). The Principal Amount shall be provided to the Company immediately following the date of this Agreement.”.
1. General
| 1.1. | This Amendment shall be deemed to all intents and purposes as an integral part of the Agreement and/or any amendment thereof.. In the event of any inconsistency between the provisions of this Amendment and the provisions of the Agreement and/or any amendment thereof, this Amendment shall prevail. Except as provided explicitly hereto, all other provisions of the Agreement shall continue to be in full force and effect, |
| 1.2. | This Amendment supersedes all prior agreements, written or oral, between the Parties relating to the subject matter of this Amendment. Each Party acknowledges that it has read and fully understood all the provisions of this Amendment and that the signing of this Amendment is made at the Parties own free will. |
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IN WITNESS WHEREOF, the Parties have executed this Amendment on the date first written above, and as of the Effective Date.
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MITOCAREX BIO LTD. |
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| By: | /s/ Alon Silberman | |
| Name: | Alon Silberman | |
| Title: |
Director |
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L.I.A PURE CAPITAL LTD. |
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| By: | /s/ Kfir Silberman | |
| Name: | Kfir Silberman | |
| Title: | CEO | |
| N2OFF, INC. | ||
| By: | /s/ David Palach | |
| Name: | David Palach | |
| Title: | CEO | |
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Exhibit 10.4
AMENDMENT TO LOAN AGREEMENT
Amendment Executed on: May 22, 2025
This AMENDMENT TO LOAN AGREEMENT (this “Amendment”) to the Loan Agreement dated March 12, 2025 (the “Agreement”) is entered into on May 22, 2025 (the “Effective Date”), by and between MitoCareX Bio Ltd, (the “MitoCareX” or the “Company” as defined in the Agreement), L.I.A Pure Capital Ltd. (“Pure Capital”, or the “Guarantor” as defined in the Agreement), and N2OFF, Inc. (“N2OFF” or the “Lender” as defined in the Agreement), (Each of them shall be referred to herein from time to time as a “Party” or collectively as the “Parties”).
Capitalized terms used but not otherwise defined herein have the meanings set forth in the Agreement.
R E C I T A L S
WHEREAS, the Parties has entered into the Agreement;
WHEREAS, the Parties wish to amend the Agreement as set forth herein effective as of the Effective Date.
NOW, THEREFORE, the Parties agree as follows:
Section 2.1 Term of Loan shall be deleted in its entirety and replaced with the following:
“The Lender hereby commits to provide the Company a Loan in the aggregate amount of USD 250,000 (Two Hundred and Fifty Thousands United States Dollars) as set forth in Schedule A (the “Principal Amount”), for a period of one (1) year following the date the Principal Amount is provided to the Company (the “Maturity Date”). The Principal Amount shall be provided to the Company immediately following the date of this Agreement.”.
| 1. | General |
| 1.1. | This Amendment shall be deemed to all intents and purposes as an integral part of the Agreement and/or any amendment thereof.. In the event of any inconsistency between the provisions of this Amendment and the provisions of the Agreement and/or any amendment thereof, this Amendment shall prevail. Except as provided explicitly hereto, all other provisions of the Agreement shall continue to be in full force and effect, |
| 1.2. | This Amendment supersedes all prior agreements, written or oral, between the Parties relating to the subject matter of this Amendment. Each Party acknowledges that it has read and fully understood all the provisions of this Amendment and that the signing of this Amendment is made at the Parties own free will. |
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IN WITNESS WHEREOF, the Parties have executed this Amendment on the date first written above, and as of the Effective Date.
| MITOCAREX BIO LTD. | ||
| By : | /s/Alon Silberman | |
| Name: | Alon Silberman | |
| Title : | Director |
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| L.I.A PURE CAPITAL LTD. | ||
| By : | /s/ Kfir Silberman | |
| Name: | Kfir Silberman | |
| Title : | CEO | |
| N2OFF, INC. | ||
| By : | /s/ David Palach | |
| Name: | David Palach | |
| Title : | CEO | |
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