Nodalblock Canada Holdings Inc. signed an agreement to acquire eXeBlock Technology Corporation (CNSX:XBLK) in a reverse merger transaction on November 27, 2020. Under the terms of the transaction, all the outstanding common shares of Nodalblock will be exchanged for common shares of eXeBlock on the basis of 1 post-consolidation common share of eXeBlock for each 1 post-split Nodalblock's common share held and then cancelled. Holders of Nodalblock's options and warrants will acquire equivalent options and warrants in eXeBlock. eXeBlock shall consolidate its common shares on the basis of 1 post-consolidation common shares of eXeBlock for each 7.33 pre-consolidation common shares of eXeBlock. Nodalblock shall split its common shares on the basis of 1.5 post-split common shares of Nodalblock for each 1 pre-split common shares of Nodalblock. As a result, the shareholders of Nodalblock will upon closing own approximately 92% of the combined entity, subject to dilution from the private placement of securities of Nodalblock. Pursuant to the terms of the agreement, Nodalblock will complete private placement of its securities at a value of not less than CAD 1 million or such other amount agreed agreeable to eXeBlock and Nodalblock.

During the transaction, Nodalblock will continue under the Federal laws of Canada and amalgamate with eXeBlock. Upon completion of the transaction, eXeBlock will, subject to corporate and CSE approval, change its name to "Oaro Technology Corporation" or such other name as may be approved (the "Resulting Issuer"). The Resulting Issuer will continue the business of Nodalblock. Upon completion, the Board of Directors of the Resulting Issuer shall consist of five Directors, with one being nominated by Nodalblock; one being nominated by eXeBlock; and three independent Directors being determined by Nodalblock who are each acceptable to eXeBlock. Joel Leetzow will serve as Chief Executive Officer and Garry Stewart as Chief Financial Officer. In addition, the Chief Executive Officer and the Chief Financial Officer of the Resulting Issuer shall be as mutually agreed among management of the Resulting Issuer.

Completion of the transaction is subject to a number of conditions, including but not limited to all requisite regulatory approval, including the approval of the CSE, and any third party approvals and authorizations; completion of the private placement of securities of Nodalblock, dissenters rights limited, Nodalblock and eXeBlock shareholders approval, execution of escrow agreement, consummation of financial audit, resigantion of eXeBlock directors, and completion of confirmatory due diligence by eXeBlock and Nodalblock. eXeBlock expects a delay in the completion as Nodalblock has advised eXeBlock that it intends to raise additional funding by way of a private placement to advance a new technology product. Andrew Burke of Stewart McKelvey LLP acted as legal advisor to Nodalblock. Paul Bowes of Harper Grey LLP acted as legal advisor toeXeBlock.

Nodalblock Canada Holdings Inc. cancelled the acquisition of eXeBlock Technology Corporation (CNSX:XBLK) in a reverse merger transaction on August 18, 2022. The parties have mutually agreed to terminate the transaction, as, market conditions in the micro-cap technology marketplace have deteriorated as 2022 has progressed and are presently as challenging as they have been in recent memory.