Hydro Giant signed a non-binding letter of intent to acquire Health Logic Interactive Inc. (TSXV:CHIP.H) in a reverse merger transaction for CAD 6.9 million on September 27, 2023. In terms of financing, Health Logic intends to conduct a financing round of up to CAD 0.5 million prior to the closing of the transaction. Subsequently, there will be a raise of between CAD 2 million ? CAD 4 million concurrent with the closing of the Hydro Giant RTO. According to the LOI, Health Logic will undertake a capital raise at a to-be-determined size and valuation concurrently with that definitive agreement. The capital will be used to finance growth initiatives, including sales and marketing, acquisitions, optimization of the supply chain, and for general corporate purposes. Health Logic does not intend to seek shareholder approval for the RTO as the Company is currently listed on NEX, the RTO is an arm's length transaction, the Company is not and will not be subject to a cease trade order and will not otherwise be suspended from trading upon completion of the RTO, and shareholder approval of the RTO is not required under applicable corporate and securities laws.

Upon completion of the transaction, Martin Yono will assume the role of Chief Executive Officer and Director, with Patrick Murphy stepping in as Chief Financial Officer and Director. Hydro Giant will be appointing one additional board member yet to be identified. George Kovalyov and Harrison Ross will continue to serve on the board as directors. Completion of the transaction is subject to a number of conditions, including but not limited to, exchange acceptance.