Subject: Notice of Termination of Equity Financing Agreement (ELOC)
Dear Mark Grober,
Following our recent discussions and a thorough evaluation of the company’s strategic direction, Avant Technologies Inc. (the “Company”) hereby formally notifies GHS Investments, LLC (“GHS”) of its decision to void the existing Equity Financing Agreement (ELOC) dated July 17, 2024, between the Company and GHS (the “Agreement”).
Basis for Termination:
The decision to terminate the ELOC is based on the following strategic considerations:
Contractual Justification:
Pursuant to Section 9.4 of the Registration Rights Agreement, which allows for amendments and terminations with mutual consent or as otherwise permitted, the Company believes that voiding the current ELOC is in the best interest of both parties. The Company is prepared to work collaboratively to address any administrative or procedural requirements related to this termination.
Next Steps:
We propose entering into discussions to finalize the termination and begin drafting a new ELOC that better fits the Company’s strategic objectives. We strongly recommend utilizing the legal expertise of Brian Higley for this process. His contact information is as follows:
Please let us know if you would like to discuss this matter in further detail or if you require any additional information.
Thank you for your understanding and cooperation.
[signature page follows]
Sincerely,
/s/ Vitalis Racius
Vitalis Racius
Chief Financial Officer, Director & Treasurer
Avant Technologies Inc.
Acknowledgment of Consent to Termination
By signing below, GHS Investments, LLC hereby consents to the termination of the Equity Financing Agreement (ELOC) dated July 17, 2024, between GHS and Avant Technologies Inc., as outlined in this notice.
GHS Investments, LLC
Signature: /s/ Mark Grober
Name: Mark Grober
Title: Member
Date: 5/13/2025