Arkadia Capital Corp. entered into a non-binding letter of intent to acquire Moduurn Mobility Inc. on July 30, 2021. Pursuant to the Amalgamation: holders of the outstanding Moduurn common shares will exchange those Moduurn common shares for Arkadia common shares on a 1:1 basis; and holders of outstanding options and warrants to purchase Moduurn common shares will exchange those options and warrants for options and warrants to purchase Arkadia common shares on a 1:1 basis. Arkadia will change its name to "Moduurn Mobility Limited" or a similar name satisfactory to Moduurn. The Proposed Transaction is subject to a number of significant conditions, including that: the Alberta Securities Commission and British Columbia Securities Commission have revoked the cease trade orders against Arkadia more particularly described below; the Exchange has conditionally accepted the Concurrent Offering and Proposed Transaction; Moduurn has completed the Concurrent Offering; holders of the Arkadia shares have approved the Consolidation and Name Change in accordance with corporate law; holders of the Moduurn Shares have approved the Amalgamation in accordance with corporate law. The Proposed Transaction is not subject to shareholder approval under the policies of the Exchange.

Arkadia Capital Corp. completed acquisition of Moduurn Mobility Inc. on August 16, 2022.