Eternal Bioworks Corp. entered into definitive agreement to acquire Ikigai Capital Corp. in a reverse merger transaction on September 16, 2022. Upon completion of the Proposed Transaction, it is the intention of the parties that the Resulting Issuer will be renamed ?Eternal Bioworks Inc.? or such other name as may be determined by the parties. Eternal Bioworks and Ikigai Capital Corp. agreed to amend the definitive agreement. The amendment increases Ikigai?s valuation for the purposes of the transaction by an additional 7.5%, from CAD 2,000,000 to CAD 2,150,000, thereby increasing the number of shares of the resulting issuer that Ikigai shareholders will receive on closing of the transaction.

The completion of the Proposed Transaction is subject to a number of conditions precedent, including but not limited to satisfactory due diligence reviews, negotiation and execution of definitive transaction documentation, approval by both Boards of Directors, approval of Eternal shareholders, obtaining necessary third party approvals, TSXV acceptance and the completion of the Eternal Private Placement. There can be no assurance that the Proposed Transaction or the Eternal Private Placement will be completed as proposed or at all.