HostPapa, Inc. signed a binding letter of intent to acquire Data Deposit Box Inc. (DB:2DD) for CAD 1.2 million on February 6, 2020. HostPapa, Inc. entered into a combination agreement to acquire Data Deposit Box Inc. on February 18, 2020. Under the terms of the deal, Data Deposit Box shareholders will receive a fraction under CAD 0.0125 per share in cash for each Data Deposit Box share. HostPapa, Inc. will pay CAD 0.01249163 per share. Data Deposit Box will be amalgamated with a subsidiary of HostPapa, Inc. Data Deposit Box Inc. will pay CAD 0.1 million as termination fee to HostPapa, Inc. Jamie Opalchuk will become director of Data Deposit Box Inc. The transaction is subject to shareholder approval of Data Deposit Box and regulatory approval, as well as other customary closing conditions. Data Deposit Box's Board of Directors has unanimously approved the proposal and recommends that its shareholders vote in favor of the transaction at the annual and special meeting of shareholders. The transaction has been approved been approved by Data Deposit Box's shareholders in the shareholders meeting on March 13, 2020. The transaction is expected to close on March 14, 2020. WD Capital Markets acted as financial advisor and David Woolford of Woolford Venture Law acted as legal counsel to HostPapa. INFOR Financial Inc. acted as financial advisor and Richard Hoffman and Heather Zordel of Gardiner Roberts LLP acted as legal counsel to Data Deposit Box. Capital Transfer Agency Inc. acted as transfer agent and depository to Data Deposit Box Inc.