JTI Financial Services Group Limited entered into an agreement to acquire Temir Corp. (OTCPK:TMRR) in a reverse merger transaction for $58 million on April 2, 2020. As part of the agreement, Temir will issue 1.9 million restricted securities at an issue price of $2.5 per share as consideration at completion. On June 30, 2020, Temir and Ace Vantage Investments Limited entered into an amendment to the agreement. Pursuant to the amendment, the parties have agreed to adjust (i) the consideration of the transaction from $4.7 million to $10.3 million; and (ii) the number of Consideration Shares from 1,874,508 shares to 4,118,182 Consideration Shares. The transaction is subject to conduct of due diligence exercise on JTI Financial Services, Over The Counter markets approval for the listing of consideration shares if required under OTC markets continued listing rules and regulations and approval by shareholders. The transaction is expected to close on April 30, 2020. On April 29, 2020, Ace Vantage announced that it has agreed on to the extending the long stop date to June 30, 2020. On June 30, 2020, pursuant to the second amendment of the agreement, Temir Corp and Ace Vantage Investments Limited, have agreed to further extend the long stop date to July 31, 2020.

JTI Financial Services Group Limited completed the acquisition of Temir Corp. (OTCPK:TMRR) in a reverse merger transaction on July 6, 2020. As a result of the transaction, JTI Financial Services Group Limited now owns approximately 61.54% of the issued and outstanding shares of common stock of Temir Corp. Centurion ZD CPA & Co. provided opinion on financials of JTI.