Maritime Launch Services Ltd. entered into a non-binding letter to acquire Ceres Acquisition Corp. (OTCPK:CERA.F) in a reverse merger transaction on February 14, 2022. Under the terms of the letter of intent, MLS' shareholders would exchange their shares in MLS for Ceres common shares. The transaction is subject to, among other things, Ceres Board and regulatory approvals and Ceres' shareholders would be entitled to a redemption right. The special meeting of Ceres' shareholders is scheduled to be held on February 23, 2022 to approve an extension of the time for Ceres to complete a qualifying transaction until June 30, 2022. As of February 23, 2022, the shareholders of Ceres' approved the extension. As of March 3, 2022, the Board of Directors of Ceres' has approved the extension to complete the qualifying transaction to June 30, 2022. Odyssey Trust Company acted as transfer agent to Ceres.

Maritime Launch Services Inc. (NEOE:MAXQ) cancelled the acquisition of Ceres Acquisition Corp. (OTCPK:CERA.F) in a reverse merger transaction on December 7, 2022. As of December 7, 2022, board of directors of Ceres has determined that the Corporation will be wound-up in accordance with its articles and the policies of the Neo Exchange and that the Corporation's Class A restricted voting shares will be automatically redeemed on or about December 16, 2022. The Corporation's board of directors has determined that it is in the best interests of Ceres and its shareholders to be wound-up as they do not believe, given current market conditions, that an appropriate qualifying transaction can be identified and completed within the Corporation's permitted timeline, as extended.