MJ Innovation Capital Corp. (TSXV:MSMJ.P) entered into an agreement to acquire Sparq Systems Inc. on July 10, 2021. On or immediately prior to the closing of the transaction, MJ Innovation Capital Corp. or Sparq Systems Inc. may consolidate its outstanding share capital at a ratio as may be accepted by the relevant regulatory authorities and approved by MJ Innovation Capital Corp. and Sparq Systems Inc. On completion of the transaction, the current directors and officers of MJ Innovation Capital Corp. will resign and expected to join Praveen Jain, Nishith Goel, Ravi Sood and BaoJun (Robbie) Luo as Directors and Officers. Upon completion of the transaction, it is the intention of the parties that MJ Innovation Capital Corp. will be renamed SPARQ Systems Corp. or such other name as may be determined by the parties and accepted by applicable regulatory authorities. The transaction is subject to a number of conditions precedent, including but not limited to satisfactory due diligence reviews, negotiation and execution of transaction documentation, approval by both boards of directors, approval of SPARQ shareholders, obtaining necessary third party approvals, TSXV acceptance and the completion of the SPARQ Private Placement.