Boardwalktech, Inc. entered into a definitive agreement to acquire Wood Composite Technologies Inc. from Marrelli Capital Limited, Wombat Investment Trust and other sellers in a reverse merger transaction on April 17, 2018. The agreement contemplates that each outstanding share of common stock of Boardwalktech would be exchanged for common shares of Wood Composite. The merger will be effected on a basis of one post-acquisition consolidated share for every 410 pre-acquisition shares of Wood Composite Technologies. Post-acquisition, current shareholders of Wood Composite Technologies will hold approximately 2.6% of the equity, former holders of subscription receipts will hold approximately 20.6% of the equity, and the former Boardwalktech shareholders will hold approximately 76.8% of the equity, all on a non-diluted basis. The combined entity will carry on the business of Boardwalktech and will be known as Boardwalktech Corp. Post-completion of the merger, the existing Directors and officers of Wood Composite will resign and will be replaced by the Board and officers of Boardwalktech. Andrew Duncan, Chief Executive Officer of Boardwalktech, and Ravi (Ganesh) Krishnan, Chief Technology Officer of Boardwalktech, will serve as Chief Executive Officer and Chief Technology Officer of combined entity. Charlie Glavin will be appointed as Chief Financial Officer and Corporate Secretary of combined entity. The Board of Directors will be comprised of Andrew Duncan, Ravi (Ganesh) Krishman, Michael Braun, Steven Parry and Charlie Glavin. The current Directors of the Wood Composite have agreed to resign from the Board. The transaction is subject to Boardwalktech completing a brokered private placement of subscription receipts, indebtedness of Wood Composite in the amount of CAD 0.14 million shall have been converted to indebtedness of Wood Composite to combined company, and regulatory approvals, including TSX Venture Exchange for the listing of shares, approval from shareholders of Wood Composite and third parties. On May 28, 2018 the TSXV granted conditional approval for the listing of Shares. Also, the subscription receipts were exchanged for shares of Boardwalktech. Computershare Investor Services Inc. acted as transfer agent in the transaction. Boardwalktech has engaged Raymond James Ltd. and Canaccord Genuity Corp. as co-lead agents to assist in the financing.