Silo Wellness Inc. (CNSX:SILO) executed a nonbinding letter of intent to acquire Dyscovry Science Ltd. on May 31, 2022. Silo Wellness Inc. (CNSX:SILO) entered into a definitive share exchange agreement to acquire Dyscovry Science Ltd. on September 27, 2022. Pursuant to the terms of the Share Exchange Agreement, Silo will acquire 100% of the issued and outstanding shares of Dyscovry in exchange for 12,762,325 (for a total of 49% of the issued shares post closing of the transaction) common shares in the capital of Silo (the "Payment Shares"). The Payment Shares issued for shares of Dyscovry shall be subject to restrictions on resale for a period of 36 months from closing of the Acquisition and shall be released on a schedule consistent with the release schedule for an "emerging issuer" prescribed by section 4.3 of National Policy 46-201- Escrow for Initial Public Offerings. Silo has also agreed to pay approximately CAD 120,000 of Dyscovry founder's debt in twelve equal monthly installments, and in any event, the total debt shall be paid no later than twelve months from the Closing Date. Subject to the completion of the due diligence process and the completion of the definitive agreement, the transaction contemplates Silo will acquire 100% of the issued and outstanding shares of Dyscovry in exchange of 49% of the issued shares. Following closing, Dyscovry shall have the right to immediately nominate one director to the board of directors of Silo. Closing of the Transaction is subject to customary closing conditions and applicable regulatory approvals, including the approval of the CSE and the shareholders of Dyscovry if required.

Silo Wellness Inc. (CNSX:SILO) completed the acquisition of Dyscovry Science Ltd. on October 17, 2022. Upon closing of the transaction, CFO Winfield Ding has resigned from the board of directors and Dyscovry founder Gerard Lee of Toronto has been appointed director. Winfield Ding will continue as Chief Financial Officer.