For Heroes Only (FHO) signed a non-binding letter of intent to acquire Peekaboo Beans Inc. (CNSX:BEAN) (PK Beans) in a reverse merger transaction on March 21, 2022. Under the non-binding LOI, PK Beans has agreed to acquire FHO for shares such that after closing the shareholders of FHO will own up to 58% of PK Beans. Also, subject to closing, PK Beans will complete a financing that values the combination of PK Beans and FHO at no less than CAD 6 million.

Upon completion of the acquisition, PK Beans and FHO together will seek to leverage new combined efforts and media capabilities to grow the PK Beans company into a global brand and franchise. FHO designed, developed, produced, and owns the intellectual property, The Peekabeans Club. FHO is entitled to royalties of PK Beans earnings from The Peekabeans Club.

By acquiring FHO, PK Beans will own The Peekabeans Club intellectual property developed by FHO. Completion of the transaction is subject to all customary conditions including a satisfactory due diligence and the entering into of a definitive purchase agreement.