SmartKem, Inc. provided an additional $2,500,000 bridge loan to Ferrox Critical Minerals via a Convertible Promissory Note maturing December 31, 2026. The note carries a 5.0% annual interest rate and generated a $200,000 origination fee for SmartKem. Additionally, the company completed an additional closing of a private placement under a March 30, 2026, Securities Purchase Agreement. In this closing, SmartKem issued 5,000 shares of Series A Preferred Stock and 10,753,615 warrants to purchase common stock, raising approximately $4.0 million in cash. SmartKem, Inc. is a financial services company that engages in strategic lending and equity investments.
