Innovative Alert Systems, Inc. (‘Innovative') entered into a letter agreement to acquire Antler Hill Oil & Gas Ltd. (TSXV:AHO.H) (‘Antler') in a reverse merger transaction on September 4, 2015. The transaction, which will constitute as a qualifying transaction for Antler, will be structured as a business combination by way of an amalgamation to form a new company to be named called Innovative Alert Systems, Inc. (‘Amalco'). In the amalgamation, each 3 outstanding shares of Antler will be exchanged for 1 share of Amalso while each share of Innovative outstanding will be exchanged for 2 common shares of Amalco. An aggregate of 16.8 million Amalco common shares will be issued in exchange for Innovative shares while 3.7 million Amalco common shares will be issued in exchange for all Antler shares outstanding. The letter agreement also provides for a non-brokered private placement of up to 1.5 million units of Innovative for gross proceeds of up to approximately CAD 0.56 million to close on or before November 30, 2015. Proceeds from the placement and a proposed bridge financing will be used to fund a portion of Innovative's costs of the transaction, continuing operating expenses and for general working capital purposes.

The board of Amalco will consist of seven directors all of whom will be nominees of Innovative, namely, Frank Der, Allan Mar, Douglas M. Stuve, Victory Luhowy, Harris Dvorkin and two independent directors to be determined by Innovative. After the closing of the transaction, the officers of Amalco will be appointed by the Board of Directors of Amalco and will include Frank Der as President, Allan Mar as Chief Executive Officer, Dr. Henry Leung as Chief Technology Officer and Douglas M. Stuve as Corporate Secretary. The completion of the transaction is subject to the approval of TSX Venture, all other necessary regulatory approval, shareholder approval from both companies, completion of the private placement, satisfactory completion of due diligence reviews, execution of a definitive agreement, and board of directors approval of Antler and Innovative.

Innovative Alert Systems, Inc. (‘Innovative') cancelled the acquisition of Antler Hill Oil & Gas Ltd. (TSXV:AHO.H) (‘Antler') in a reverse merger transaction on November 24, 2015. Transaction cancelled due to continued weakness in junior equity markets. Antler Hill Oil & Gas Ltd. will continue identifying and evaluating other potential transactions.