On June 21, 2022, Ackrell SPAC Partners I Co. (the 'Company') issued an unsecured promissory note (the 'Note') in the principal amount of up to $600,000 to North Atlantic Imports, LLC ('NAI'). NAI, entered into a business combination agreement with the Company, among others, on December 22, 2021.

The Note is non-interest bearing and payable in cash upon the earlier of the closing of the Company's initial business combination and September 23, 2022, subject to the trust waiver contained in the Note.