Solvbl Solutions Inc. (CNSX:SOLV) has entered into a non-binding Letter of Intent to acquire Darkhorse Films Limited on September 12, 2022. As of September 29, 2022, Solvbl Solutions Inc. entered into an agreement to acquire Darkhorse Films Limited. SoLVBL will acquire all the issued and outstanding shares of Darkhorse, with a total transaction value of CAD 10.15 million to be settled via 115,384,615 SoLVBL common shares CAD 0.065, and the remaining with cash. The cash portion of the purchase price is payable as CAD 1 million payable, if SoLVBL raises at least CAD 4 million in private placement financing within 12 months from the closing of the Transaction, an additional CAD 1.5 million is payable, SoLVBL raises an additional CAD 6 million of private placement financing within 24 months and $150,000 of the total purchase price will be paid upon the Company raising at least $500,000 in a private placement.

In the year ending on June 30, 2022, Darkhorse's total assets were CAD 0.15 million and total liabilities CAD 0.13 million. At the close of the transaction, the SoLVBL will add two (2) directors, nominated by Darkhorse, including the current Darkhorse Director and Co-Founder Mr. David van Herwaarde to its board. In addition, all employees and consultants of Darkhorse will join SoLVBL. Key Darkhorse employees such as Mr. Terry Stone will join the SoLVBL operating team. The closing of the transaction, is subject to satisfaction of customary closing conditions including satisfactory completion of the due diligence of the business of Darkhorse.

Closing of the transaction is subject to acceptance by CSE. All shares of SoLVBL that are issued to Darkhorse will be subject to certain escrow conditions, including timed release of shares based on milestones being met by Darkhorse. Subject to policies of the Canadian Securities Exchange all newly issued shares are to be escrowed and will be subject to a voting trust agreement. The Transaction is also subject to customary regulatory and the CSE approvals. The transaction is expected to close on October 13, 2022.