1169082 B.C. Ltd. is pleased to announce that it has entered into a non-binding letter of intent with Awakn Life Sciences Inc., whereby 1169082 B.C. Ltd. and Awakn have agreed to negotiate exclusively in respect of a transaction to combine their respective businesses. The Proposed Transaction will be structured following the review and consideration by the parties of applicable tax, securities, corporate law, and other relevant considerations and shall be subject to standard closing conditions, including receipt of any required regulatory or shareholder approvals.

In conjunction with the Proposed Transaction, 1169082 B.C. Ltd. and Awakn intend to jointly apply to the NEO Exchange for the listing of the common shares of the resulting issuer. Such a listing would be subject to the approval of the NEO Exchange and the satisfaction by the resulting issuer of the NEO Exchange's listing conditions.