Rxlive Limited entered into a share exchange agreement to acquire Claren Energy Corp. (TSXV:CEN) for CAD 57.3 million in a reverse merger transaction on April 14, 2021. In consideration, Claren has agreed to issue such number of post-consolidation shares to the shareholders of RX Live that is equal to CAD 15 million less the outstanding indebtedness of RX Live. The consideration shares will be issued at a deemed price of CAD 0.5 per post-consolidation share and Claren anticipates that approximately 28,987,518 post-consolidation shares will be issued on closing of the transaction. Prior to closing of the transaction, RX Live plans to undertake a non-brokered private placement of unsecured convertible debenture financing in the principal amount of CAD 1.75 million. Claren is also pleased to announce that it will carry out, through a wholly-owned special purpose financing company, a brokered private placement financing of up to 10.5 million subscription receipts at a price of CAD 0.5 per subscription receipt for gross proceeds of CAD 5.25 million. Claren will undertake a consolidation of its common shares on the basis of five pre-consolidation common share for every one post-consolidation common share. Claren intends to change its name to "RX Live Limited", or such other name as approved by the parties, and the common shares of Claren will be listed on the exchange under a new trading symbol and new CUSIP/ISIN. As of December 13, 2021, RX Live will undertake a convertible debenture bridge financing in the principal amount of CAD 1,750,000. Certain creditors of RX Live have agreed to settle indebtedness of CAD 0.65 million at CAD 0.40 per post-Consolidation share for 826,500 post Consolidation shares of Claren. The proceeds of the Bridge Financing will be used to enhance the RX Live platform, increase inventory and expand the sales team. RX Live will also loan CAD 300,000 of the Bridge Financing to Claren, of which RXLive will forgive 50% of the amount outstanding under the loan in the event that the Transaction does not close. It is anticipated that the following persons will be directors and officers of Claren following completion of the transaction; Shahil Patel (Chief Executive Officer, Director and 10% shareholder of the resulting issuer), Nilesh Nagar (Co-Founder, Director and 10% shareholder of the resulting issuer), Matt Anderson (Chief Financial Officer and Corporate Secretary), Alan Ridgeway and Wayne Kreppner as Directors.

The Transaction is subject to the satisfaction of customary conditions precedent including, but not limited to; exchange approval, receipt of Claren shareholder approval, necessary board of director approvals, completion of the subscription receipt financing and other conditions which are customary for a transaction such as this transaction. The completion of the Transaction was to be completed by September 30, 2021. Subsequent to July 31, 2021, the completion date was extended to December 31, 2021. Claren and RX Live have mutually agreed to extend the Closing Date of the Proposed Transaction until March 31, 2022.

Rxlive Limited cancelled the acquisition of Claren Energy Corp. (TSXV:CEN) in a reverse merger transaction on April 14, 2022.