Silkwave Inc. has signed a Letter of Intent with Golden Bee Health Products Investment Limited Inc., which will, through investment, joint ventures and cooperation, jointly with the Company to build projects in the field of advance technology, including artificial intelligence (AI), big data, Multimedia and satellite Internet, provide a range of investment and advisory services, and becoming one of the Company's strategic investment partners. Both parties hope to begin their artificial intelligence (AI) and digital cloud related project shortly by bringing together cooperation between their subsidiaries in the relevant industries and leverage Novagant Corp. financial platform in the US, to procure the Group with bigger capital market support, business development and bringing more benefits for its shareholders.

Both parties have not yet determined the commercial terms of any investment cooperation, but plan to sign separate investment agreements for each investment cooperation. The Company believes that the development needs for the future, especially in artificial intelligence (AI), big data, satellite Internet etc., requires substantial resources and cooperation. The cooperation with Golden Bee, if materialise, will greatly enhance the strength of the Group.