Datable Technology Corporation (TSXV:DAC) entered into letter of intent to acquire Local Marketing Solutions Group Inc. for CAD 18.7 million on September 23, 2022. Under the LOI, Datable will acquire LMSG at a base value of CAD 14.35 million by paying the owners of LMSG 287,000,000 common shares of Datable at a deemed price of CAD 0.05 per Share. The LOI also contemplates the completion of the private placement first announced on June 20, 2022 and extended to October 4, 2022 pursuant to the press release dated September 1, 2022. A concurrent financing of CAD 2 million to fund the growth of the combined company, Two of five directors of Datable to be appointed by LMSG. Under the LOI the Definitive Agreement is to be signed no later than November 15, 2022. After the execution of the Definitive Agreement, it is expected the Acquisition will be subject to TSXV approval, completion of the financing set out above, and delivery of audited financial statements for LMSG. As on January 17, 2023, Datable Technology signed an amendment agreement to the Letter Of Intent to extend the deadlines for the signing of a Definitive Agreement from November 15, 2022 to March 31, 2023 and for the expected closing date of the acquisition from March 15, 2023 to April 28, 2023. All other terms of the LOI remain unchanged. The Amending Agreement was agreed upon to allow LMSG to restructure its business as contemplated in the LOI and complete the audited financial statements required to finish due diligence and meet regulatory requirements.

Datable Technology Corporation (TSXV:DAC) cancelled the acquisition of Local Marketing Solutions Group Inc. on March 17, 2023.