Equispheres Inc. entered into a letter of intent to acquire Buzz Capital 2 Inc. (TSXV:BUZH.P) in a reverse merger transaction on May 14, 2021. Prior to the transaction, the outstanding shares of Buzz will be consolidated on the basis of one post-consolidation Buzz share for each ten pre-consolidation Buzz shares and the shareholders of Equispheres will receive shares in the capital of the combined company on a ratio to be determined based on the price per subscription receipt under the concurrent financing. The outstanding options of Buzz 2 will be adjusted accordingly and all outstanding incentive stock options of Equispheres will be exchanged for incentive stock options of the combined company on equivalent terms after giving effect to all of the transactions contemplated in connection with the transaction. Following the completion of the transaction, the shareholders of Equispheres will hold a significant majority of the outstanding common shares of the combined company. In a related transaction Equispheres plans to complete a private placement of subscription receipts of Equispheres with a syndicate of agents co-led by Stifel GMP and INFOR Financial Inc. (concurrent financing). Buzz 2 intends to change its name to Equispheres Inc. and to replace all directors and officers of Buzz 2 with the Equispheres nominees. The transaction is subject to completion of satisfactory due diligence, execution of the Definitive Agreement, receipt of regulatory approvals, acceptance of the by the TSXV, receipt of approval for the listing of the common shares of the combined company, approval by the requisite majority of Equispheres shareholders and approval by the requisite majority of Buzz 2 shareholders, including the appointment of a new slate of directors nominated by Equispheres, subject to the completion of the transaction, and if applicable pursuant to the requirements of the TSXV, majority of the minority shareholder approval.