September 3, 2025 — Leads & Copy — Kovo+ Holdings Inc. has extended its agreement with Avonlea Ventures #2 Inc., increasing the principal amount available for borrowing to USD$3,750,000. The company’s subsidiary, Nexus AI Data, Inc., has also acquired 100% of the assets of AI Vector, LLC, an AI-driven IT infrastructure management company, for approximately USD$3.993 million.
The extension agreement includes a four-month extension of the Senior Loan Agreement and Secured Prom Note, with a maturity date of December 31, 2025. In connection with the Extension Agreement, Kovo drew down USD$300,000 from the Secured Prom Note (for an aggregate amount drawn of USD$1,250,000) and granted AVI a one-time loan fee of USD$250,000 and a monthly fee in the amount equal to 1.0% of the aggregate indebtedness owing by Kovo to AVI under the Senior Loan Agreement and Secured Prom Note.
Nexus AI Data, Inc.’s acquisition of AI Vector, LLC includes its technology and talent, which Kovo believes will strengthen its existing portfolio and accelerate the development of new AI-powered solutions.
Kovo also announced the resignation of Mr. Robert Galarza as a director and the appointment of Dr. Wayne Young as a director.
David Pinkowitz has been named interim CFO, effective immediately.
Contact Information:
Justin Anderson
Chief Executive Officer
investors@kovo.co
1-866-714-0308
Source: Kovo+ Holdings Inc.
Source: Kovo+ Holdings Inc.
