Think Technologies Corp. entered into a non-binding letter of intent to acquire Pacific Iron Ore Corporation (POC) on February 3, 2020. Pursuant to the proposed transaction, Pacific will consolidate the POC Shares on a basis that results in the holders of POC Shares holding, in the aggregate, after completion of the consolidation, such number of POC Shares having a value of CAD 0.5 million. In connection with the transaction, Think intends to complete a private placement offering of no less than CAD 0.5 million. In addition, upon the closing of the transaction, the current Directors and Officers of Pacific are expected to be replaced by the Directors and Officers of Think. Subject to satisfactory completion of due diligence, the parties intend to enter into a definitive agreement with respect to the transaction on or before March 20, 2020. The letter of intent contemplates that the Corporation will apply to list the shares of the combined entity resulting from the Transaction (the "Resulting Issuer") on the Canadian Securities Exchange (the "CSE"). Listing will be subject to meeting the requirements and obtaining the approval of the Canadian Securities Exchange. The transaction expected to close no later than May 29, 2020. Think Technologies Corp. cancelled the acquisition of Pacific Iron Ore Corporation on March 20, 2020.