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.