PEZM Gold Inc. (TSXV:PEZM.H) entered into a letter of intent to acquire Innovative Hydrogen Solutions Inc. (IHS) for CAD 28.1 million on December 19, 2021. PEZM will arrange for existing shareholders to transfer 12,750,000 common shares for the benefit of the existing shareholders of IHS. The Consideration Shares will be subject to a voluntary pooling arrangement for a period of five years from the date of completion of the Acquisition, from which they will be released annually in five equal tranches commencing on the one-year anniversary of completion of the acquisition. In consideration for completion of the Acquisition, PEZM will assume the obligation for repayment of a series of shareholder loans made to IHS in the aggregate amount of CAD 3,175,000. It is a condition to completion of the acquisition that IHS arrange for the restructuring of the Shareholder Loans such that they do not bear interest and are repayable as follows: (i) CAD 800,000 upon completion of the Acquisition; (ii) CAD 800,000 upon the one-year anniversary of completion of the Acquisition; (iii) CAD 800,000 upon the two-year anniversary of completion of the Acquisition; and (iv) CAD 775,000 upon the three-year anniversary of completion of the acquisition. In connection with completion of the Acquisition, it is anticipated that PEZM will change its name to “Innovative Hydrogen Solutions Corp.” and will adopt the ticker symbol “IHS”. On completion of the proposed Acquisition, the PEZM’s board of directors and management team will be reconstituted to consist individuals to be mutually agree between PEZM and IHS.