Promissory Notes (Debt)

A promissory note is a formal, written promise from the issuer (maker) to pay a specific sum to the recipient (payee), either on demand or at a predetermined future date. When offered through a Private Placement Memorandum (PPM), the note includes all essential terms, such as principal amount, interest rate, maturity date, payment schedule, issuance date and location, and the issuer’s signature. The PPM also outlines relevant risk factors, disclosures, and conditions associated with the debt, providing clarity and legal compliance for both parties involved.