Mitesco, Inc. announced a private placement of 10% promissory note to individual lender Mack Leath for gross proceeds of $42,500 on September 15, 2022. The principal value of the note is $50,000. The notes have an interest rate of 10% per annum payable on a monthly basis.

The maturity date of the note is earlier of successful listing of its shares of common stock on any of The New York Stock Exchange, the NYSE American, the Nasdaq Global Select Market, the Nasdaq Global Market, or the Nasdaq Capital Market, five business days after the date of such listing; or December 15, 2022. The investors may not transfer or assign the note nor any right or obligation hereunder to any person or entity without the prior written consent of the borrower.