Genomica Bioinformatics Ltd. entered into a definitive agreement to acquire Lightspeed Discoveries Inc. (TSXV:LSD.H) for CAD 4.1 million in a reverse merger transaction on January 29, 2021. Lightspeed will issue 37.5 million new shares to acquire Genomica. Prior to closing of the Transaction, in accordance with the terms of the SPA, Lightspeed will consolidate its common shares on a 3-for-1 basis. Upon completion of the consolidation, the number of Lightspeed common shares outstanding will be 3,498,505. In connection with the Transaction, Lightspeed intends to complete a non-brokered private placement of a minimum of 10 million post-consolidation common shares to be priced in the context of the market as determined by the parties for aggregate gross proceeds of not less than CAD 2.5 million. The net proceeds from the financing are intended to be used for technology development, working capital, and general corporate purposes. Lightspeed does not intend to pay any advance or deposit or make any loan to Genomica in connection with the Transaction. On closing, Lightspeed intends to change its name to "Genomica Bioinformatics Ltd." and will carry on the business presently being conducted by Genomica (the "Resulting Issuer"). Lightspeed anticipates that the Resulting Issuer will be a Tier 2 Life Sciences Issuer on the TSXV. On closing, management of Lightspeed is expected to be reconstituted to consist of five members, three of whom shall be nominees of Genomica and two of whom shall be nominees of Lightspeed. Chris Backus, President and Director of Genomica, will be appointed President and Director of Lightspeed. Rob Goehring will be appointed a Director. Completion of the Transaction is subject to a number of conditions, including TSXV acceptance, completion of the consolidation and the concurrent financing. Genomica Bioinformatics Ltd. cancelled the acquisition of Lightspeed Discoveries Inc. (TSXV:LSD.H) in a reverse merger transaction on June 4, 2021.