Alzex Biomedical Group Inc. entered into a letter of intent to acquire Rebel Capital 2.0 Corp. (TSXV:RBZ.P) in a reverse merger transaction on September 30, 2019. Alzex Biomedical Group Inc. entered into a definitive agreement to acquire Rebel Capital 2.0 Corp. (TSXV:RBZ.P) in a reverse merger transaction on January 3, 2020. Pursuant to the transaction, all the issued and outstanding shares of Alzex will be exchanged for shares of Rebel on a one-for-one basis, and prior to closing, Rebel shall complete a consolidation of its share capital on a 2:1 basis. Upon completion of the qualifying transaction, it is expected that the resulting issuer shares will be composed of 37.92 million common shares; shares purchased through the Alzex financing of up to 10 million Alzex Units at a price of CAD 0.25 per Alzex Unit for gross proceeds of CAD 2.5 million, which shall close prior to the amalgamation, and in any event, shall close no later than March 31, 2020. Each Alzex Unit will be comprised of one common share and one whole share purchase warrant, each warrant exercisable for one resulting issuer share at a price of CAD 0.50 for a period of 24 months following closing of the Alzex financing; and, shares purchased in the subscription receipt offering of at least 8.33 million units and up to 16.67 million units at a price of CAD 0.30 per unit for gross proceeds of between CAD 2.5 million and CAD 5 million whereby each subscription receipt shall be exchangeable into units of the resulting issuer. Each unit will be comprised of one common share and one whole share purchase warrant, each warrant exercisable for one resulting issuer share at a price of CAD 0.60 for a period of 24 months following closing of the subscription receipt offering. Upon completion of the transaction, the combined entity will continue to carry on the business of Alzex. In connection with the completion of the transaction, it is expected that Rebel will change its name to "Alzex Biomedical Group Inc.". Following the closing of the transaction, there will be up to eight directors of the resulting issuer, one of which will be Fabrice Heitzmann and up to seven additional directors to be named. It is also anticipated that the current officers of Alzex will be the officers of the resulting issuer. Scott Davis is expected to be Chief Financial Officer of the resulting issuer. The transaction is subject to the satisfaction of Rebel and Alzex in respect of the due diligence investigations, execution of a definitive agreement, Alzex shareholder approval, completion of non-brokered private placement of up to 10 million Alzex units at a price of CAD 0.25 per Alzex unit for gross proceeds of CAD 2.5 million, completion of the subscription receipt offering of Alzex, resignation of directors and officers of Rebel, closing conditions customary to transactions of the nature of the qualifying transaction and approvals of all regulatory bodies. Rebel shall have cash of not less than CAD 30,000 and a positive working capital. Approval of shareholders of Rebel is not a condition required to complete the qualifying transaction. On May 7, 2020, Alzex Biomedical and Rebel entered into amending agreement pursuant to which, outside date for the closing date of the transaction extended to September 15, 2020. As on September 17, 2020, the transaction is not completed and parties agree to continue discussions and agree to terms to set a new closing date. Prentice Darbin of Harper Grey LLP acted as legal advisor to Rebel and Matt Fish of Fish LPC acted as legal advisor to Alzex. Alzex Biomedical Group Inc. cancelled the acquisition of Rebel Capital 2.0 Corp. (TSXV:RBZ.P) in a reverse merger transaction on September 25, 2020.