1301666 BC Ltd. entered into a non-binding letter of intent to acquire Green Panda Capital Corp. (TSXV:GPCC.P) in a reverse merger transaction on March 15, 2022. Pursuant to the transaction, holders of the issued and outstanding common shares of 1301666 BC will exchange their shares for common shares of the Resulting Issuer on a one-for-one basis. As per the letter, it is anticipated that concurrently with the closing of the transaction, Green Panda or 1301666 BC will complete an equity financing to raise gross proceeds of CAD 2 million. Immediately prior to the closing of the transaction, it is anticipated that Green Panda will undertake a share consolidation of the Green Panda Shares at a ratio to be based on the Concurrent Financing pricing, such that the outstanding common shares of Green Panda will have an aggregate deemed value of at least CAD 1 million. Upon completion of the transaction, the Resulting Issuer will carry on the business of 1301666 BC. Upon closing, the Resulting Issuer is expected to change its name to "Falcon Butte Minerals Corp." and the board of the Resulting Issuer will be comprised of nominees of 1301666 BC.

The transaction is subject to receipt of all required regulatory, corporate and third-party approvals, including TSXV approval, and compliance with all applicable regulatory requirements and conditions necessary to complete the transaction, completion of satisfactory results from due diligence investigations for each of the parties, completion of 1301666 BC's acquisition of interest in two mineral exploration properties in Nevada, and completion of the equity financing.