Milae Resources ML Co., Ltd. (XKON:A233190) signed a merger contract to acquire Hana Must Fifth Special Purpose Acquisition Company (KOSDAQ:A218150) in a reverse merger transaction on June 14, 2017. The consideration comprises issuance of 13.6 million common shares at a ratio of 1:4.5238095. Following the completion of the transaction, Milae Resources ML Co., Ltd. will continue its business as a listed company on Korea Securities Dealers Automated Quotations Stock Exchange (KOSDAQ) as the effect of the merger and the largest shareholder of Milae Resources ML Co., Ltd., Sung-Jin Kim, will become the largest shareholder of the combined company holding 61.5% stake. As of November 3, 2017, Hana Must Fifth Special Purpose Acquisition Company proposed to change its name to Milae Bioresources Co., Ltd. The Board of Directors of Milae Resources ML Co., Ltd. resolved the deal on June 14, 2017. General meeting of shareholder for closing report is scheduled for October 31, 2017. The deal is expected to close on October 31, 2017. As per the amendment on August 16, 2017, general meeting of shareholders is scheduled for November 3, 2017. The shareholders of Milae Bioresources Co., Ltd. approved the transaction in its extraordinary shareholders' meeting on November 3, 2017. The deal is expected to close on December 8, 2017. Hanmi Accounting Corporation acted as an external rating institution in the transaction.