On March 16, 2023 NovAccess Global Inc. ("NovAccess," the "company" or "we") reported that it has entered into non-qualified stock option agreements and granted vested ten-year options to purchase shares of the company’s common stock for $0.175 a share, the closing price on the grant date (Filing, 8-K, NovAccess Global, MAR 16, 2023, View Source [SID1234628908]). We issued options to purchase a total of 3,542,857 shares as follows: (a) 857,143 to each of our independent directors, Jason M. Anderson and John A. Cassarini; (b) 428,571 to Neil J. Laird, our chief executive officer, and 571,429 to Dr. Christopher Wheeler, president of our StemVax Therapeutics subsidiary; (c) 57,143 to each of our scientific advisory board members; and (d) the remaining 542,857 to staff members and other officers.

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Item 3.02 Unregistered Sales of Equity Securities.

The disclosure included under Item 1.01 above is incorporated by reference to this Item 3.02. The issuances of the stock options to our independent directors, officers, scientific advisory board members, and staff were exempt from registration under Section 4(a)(2) of the Securities Act of 1933.