Reliance Global Group Inc. has entered into a secured convertible promissory note agreement with Enquantum Ltd., advancing $166,000 to Enquantum. The note bears interest at 1% per annum, with a default interest rate set at the greater of 10% per annum or the maximum allowed under Florida law. If the companies execute definitive agreements for a contemplated strategic transaction within 30 days, the debt will be settled through a credit against future milestone-related payments owed by Reliance Global Group, with the amount split equally across the first two such payments. If no definitive agreement is reached in that period, the loan becomes payable in cash within 60 days following the end of the exclusivity period. As security, Enquantum has granted Reliance Global Group a first-ranking floating charge over substantially all of its assets, including intellectual property.

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