Ethereum Capital Inc. (‘Ethereum’) entered into a transition agreement to acquire MOVIT Media Corp. (TSXV:MV.H) (‘Movit’) in a reverse merger transaction on January 29, 2018. The transaction is structured as the purchase by Movit of all of the issued and outstanding shares of Ethereum Capital pursuant to a three-cornered amalgamation which will result in a reverse takeover of Movit. On the amalgamation, each Ethereum Share will be cancelled and holders of Ethereum Shares will receive one Movit Share for each Ethereum Share. Movit will issue in the aggregate approximately 22.2 million post-consolidation Movit Shares in connection with the transaction resulting in approximately 23 million post-consolidation Movit Shares issued and outstanding immediately after the closing of the transaction. On the completion of the amalgamation, the holders of Ethereum Shares will become shareholders of Movit. The combined company will change its name to "Ethereum Capital Corporation" or such other name as is acceptable to Movit's corporate regulator. In conjunction with the transaction, Ethereum plans to complete a private placement offering of 20 million subscription receipts at a price of CAD 2.5 per receipt for gross proceeds of CAD 50 million. As on March 22, 2018, the resulting issuer will issue an aggregate of approximately 20 million shares in connection with the amalgamation resulting in approximately 20.8 million of the issued and outstanding of the resulting issuer immediately after the closing of the transaction. After the completion of the reverse takeover, MOVIT Media Corp. will change the name to “Ether Capital Corporation” or such other name as the Board of Directors of the Corporation. Movit expects to have its common shares listed on the NEO Exchange under the symbol “ETHC” and delist its shares from the TSX Venture Exchange following the closing of the transaction. The Board of Directors of the combined firm will be reconstituted with nominees of Ethereum. The Board of Directors to be elected will be Michael Conn as Chief Executive Officer and Director; Som Seif as Executive Chairman, Director and Co-CIO; Benjamin Roberts as Director and Co-CIO; Scott Bartholomew as Chief Financial Officer and Corporate Secretary; John Ruffolo as Director; Boris Wertz as Director; Liam Horne as Director; Joey Krug as Director; Camillo Di Prata as Director and Colleen McMorrow as Director. As of April 13, 2018, the current Directors of Movit, Jeffrey N. Sharpe, Stephen D. Inouye and Jason Pamer, were elected as Directors by the shareholders of Movit to serve until the close of transaction. Closing of the transaction remains subject to the satisfaction of a number of conditions customary for this type of transaction, including the receipt of requisite approvals from Movit shareholders, third party approval, all Movit Warrants shall have been exercised or cancelled and approval of the TSXV. The transaction is also subject to consummation of private placement, cancellation of all unexercised options of Movit. The Board of Directors of Movit has unanimously determined that the transaction is in the best interests of Movit and recommends that Movit shareholders vote in favor of the transaction. As of February 23, 2018, Ethereum completed the private placement of CAD 45 million consisting 18 million subscription receipts at a price of CAD 2.5 per subscription receipt. As of April 4, 2018, Movit received conditional approval for the listing of its common shares on the Aequitas NEO Exchange subject to the completion of the transaction. On April 12, 2018, Movit received conditional approval from the NEO Exchange for the listing of its common shares in a halted state, for the limited purpose of completing the transaction, effective April 17, 2018. Concurrently, on April 12, 2018, Movit requested from the TSX Venture Exchange to voluntarily delist its common shares, to be effective April 16, 2018. As of April 13, 2018, shareholders of Movit approved certain matters in connection with the transaction, including the continuance of Movit from British Columbia to Ontario, the consolidation of the issued and outstanding Movit common shares on the basis of one post-consolidation share for every 12.5 issued and outstanding shares, a change of name to “Ether Capital Corporation”, adoption of a new by-law and adoption of a new share compensation plan. Shareholders also approved the appointment of a new auditor and elected a new board of directors to hold office effective at the time of closing of the transaction. Subsequent to receipt of the required shareholder approvals at the meeting, Movit effected the transactions contemplated under the Transition Agreement to complete the reverse takeover. On April 16, 2018, Movit delisted from the TSXV and received final approval to list its common shares on the NEO Exchange, in a halted state, effective April 17, 2018. The Continuance, Consolidation and Name Change were effected by certificate and articles of continuance dated April 17, 2018, under the Business Corporations Act (Ontario) and the new by-law and share compensation plan were adopted. On April 17, 2018, the specified escrow release conditions for the offering were satisfied and net proceeds in the amount of approximately $42.2 million were released. On the escrow release, holders of subscription receipts received one Ethereum share for each subscription receipt held. The transaction is expected to close the week of April 16, 2018. As of April 17, 2018, the transaction is expected to close on April 17, 2018. Computershare Investor Services Inc. acted as transfer agent for Movit in the transaction. Ethereum Capital Inc. completed the acquisition of MOVIT Media Corp. (TSXV:MV.H) in a reverse merger transaction on April 18, 2018. In connection with the closing of the transaction, Ethereum Capital completed the previously announced private placement offering of 18 million subscription receipts at a price of CAD 2.5 per receipt for the net proceeds of approximately CAD 42.2 million. Ether Capital plans to use the net proceeds of the offering to implement its strategy though a combination of acquiring Ether and through strategic acquisitions of Ethereum-based businesses.