Dona Blanca Limited entered into a letter of intent to acquire A-Labs Capital II Corp. (TSXV:ALAB.P) in reverse merger transaction on March 23, 2021. A-Labs Capital and Dona Blanca have agreed to a proposed acquisition by A-Labs Capital of 100% of the issued and outstanding securities of Dona Blanca in exchange for the issuance of securities of A-Labs Capital. A-Labs Capital will issue on a pre-consolidation basis approximately 122.5 million shares and 60.76 million warrants to acquire Dona Blanca shares and warrants. A-Labs Capital are expected to be consolidated prior to closing of the transaction at a ratio to be determined by the parties in the context of the transaction. The common shares of A-Labs Capital are expected to be consolidated prior to closing of the transaction at a ratio to be determined by the parties in the context of the transaction. Upon completion of the transaction, A-Labs Capital will change its name to such name to be determined by Dona Blanca and acceptable to the Exchange. On closing of the transaction, the business of A-Labs Capital will be the business of Dona Blanca. In connection with closing of the transaction, it is expected that the current directors and officers of A-Labs Capital will resign from their respective positions and the board will be reconstituted with four directors, three of whom shall be nominated by Dona Blanca and one of whom shall be nominated by agreement between Dona Blanca and A-Labs Capital. The transaction is subject to subject to the entering into of the definitive agreement, conversion of existing debt of Dona Blanca into 47..5 million shares and 23.7 million warrants, a pre-listing financing of up to 10 million units of Dona Blanca and a concurrent financing of CAD 3 million, receipt of all required regulatory, corporate, and third party approvals, including Exchange approval, satisfactory due diligence by both the parties, and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Unless the parties agree otherwise, the LOI will terminate if, among other things, the definitive agreement has not been entered into by April 30, 2021. Dona Blanca Limited cancelled the acquisition of A-Labs Capital II Corp. (TSXV:ALAB.P) in reverse merger transaction on August 30, 2021.