PlantFuel Life Inc. (CNSX:FUEL) entered into a definitive business combination agreement to acquire BeeImmune on March 27, 2023. As per the terms of the transaction, all of the issued and outstanding common shares of BeeImmune will be exchanged for common shares of the Company on a 1:1.045 basis and Amalco will become a wholly-owned subsidiary of the Company. Upon the completion of the Transaction, it is expected that existing shareholders of the Company will collectively hold approximately 55.2% of the Common Shares and that former shareholders of BeeImmune will collectively hold approximately 44.8% of the Common Shares.

Following the completion of the Transaction, the Company will combine its business operations with that of BeeImmune. George Scorsis will resign from the board of directors of the Company and Cassidy McCord will be appointed as a director. The completion of the Transaction is subject to a number of customary conditions precedent, including the receipt of any required regulatory approvals, the requisite approval of the shareholders of BeeImmune and Subco to the Amalgamation, and the resignation of George Scorsis and appointment of Cassidy McCord as an independent director of the Company.

The closing of the Transaction is expected to occur on or around April 3, 2023.