EZRaider Global, Inc. entered into a binding letter of intent to acquire E-Waste Corp. (OTCPK:EWST) for approximately $250 million in a reverse merger transaction on May 25, 2021. At the closing of the Reverse Merger, all of the outstanding shares of capital stock of EZ Global will be transferred to E-Waste in exchange for the issuance of shares of common stock of E-Waste to the shareholders of EZ Global. A total of 25,000,000 restricted shares of E-Waste Common Stock will be issued as a consideration. In connection with the transactions contemplated by the LOI, EZ Global has entered into a purchase agreement with GEM Global Yield Fund LLC SCS ("GEM"), pursuant to which GEM will purchase up to $50,000,000 of the issued and outstanding shares of EZ Global in the form of a series of private placements to be specified by EZ Global. The LOI further provides that following the closing of the Reverse Merger, the Company will conduct a private placement offering (the “PPO”) of up to 10,000,000 units of its securities; each unit comprising of one (1) share of the Company's common stock and a warrant to purchase one (1) share of the Company's common stock, on the terms of, and subject to the conditions in the definitive subscription documents to be executed by and among the Company and the purchasers in the PPO. EZRaider Global shall immediately pay E-Waste the amount of $100,000 payable in cash as a break fee. The name of the surviving entity changed to EZRaider Co. effective September 3, 2021.

The consummation of the transactions contemplated by the LOI and the Side Letter are contingent upon the parties entering into definitive agreements and satisfaction of the closing conditions, including, but not limited to, satisfactory completion by the Company and EZ Global of all necessary technical and legal due diligence, obtaining all necessary board, shareholder, and third-party consents, including but not limited to the EIP and the completion of audited financial statements of EZ Global. On the Closing Date, the Board of Directors of E-Waste (the “Board”) shall consist of three (3) members of which EZ Global will appoint one and EWST will appoint two members. Upon the closing of the DS Acquisition and PPO, the Board shall increase to a total of seven (7) members, at least four (4) of whom shall be independent. The Company shall nominate four (4) directors and each of E-Waste, GEM and the Placement Agent shall nominate one (1) director. Mark Crone of The Crone Law Group acted as legal advisor for E-Waste and Lawrence W Horwitz of Lockett + Horwitz acted as legal advisor for EZ Global.