Capim Branco Energia Solar SPE Ltda, Atlas Energia Solar SPE Ltda and Evolution Comercializadora de Energia Eletrica e Gas Natural Ltda entered into a letter of intent to acquire Navigator Acquisition Corp. (TSXV:NAQ.P) in a reverse merger transaction on September 16, 2020. As part of the transaction, 75% of the stock capital of Capim Branco Energia Solar SPE Ltda, 15% of Atlas Energia Solar SPE Ltda and 100% of Evolution Comercializadora de Energia Elétrica will be exchanged with the newly issued shares of Navigator. Additional resulting issuer shares will be issued to certain key Pacto management on achieving certain performance milestones. Certain number of the resulting issuer shares issued to the Principals of Pacto who will become management of the resulting issuer, will be subject to escrow in accordance with TSXV policies. The transaction is expected to proceed on a cashless basis, hence no cash will be raised at the qualifying transaction. Post-completion of the transaction, existing shareholders of Pacto will own approximately 82.9% of the outstanding common shares of the resulting issuer. Upon completion of the transaction, it is anticipated that the resulting issuer will be a Tier 2 Energy Issuer. Upon completion of the transaction, the Board of Directors and management of the Resulting Issuer will be reconstituted so that five members of the Board will be nominated by Pacto and two members of the Board will be nominated by Navigator. It is anticipated that Rodrigo Ferreira Fonseca Pedroso will be an insider of the Resulting Issuer by virtue of his position as a Director of the Resulting Issuer. The completion of the Pacto 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 the Boards of Directors of each of Navigator and Pacto, approval of Pacto shareholders, TSXV acceptance and obtaining necessary third-party approvals.