Iron Bull Mining Inc. entered into a non-binding letter of intent to acquire AAJ Capital 3 Corp. (TSXV:AAAJ.P) in a reverse merger transaction on October 27, 2022. Pursuant to the terms of the Letter of Intent, AAJ Capital intends to acquire all of the issued and outstanding shares of Iron Bull, pursuant to which the former holders of Iron Bull Shares would receive one common share of the Resulting Issuer (on a post-consolidation one for four basis) in exchange for every one Iron Bull Share held. Immediately following the closing of the Transaction, Regenx Tech Corp. intends to distribute approximately 17,358,929 of the 20,000,000 Iron Bull Shares that it currently holds to its shareholders by way of a return of capital. Following the closing of the Transaction, the current shareholders of Iron Bull (excluding those shares distributed to the shareholders of Mineworx) would hold approximately 66% of the issued and outstanding shares of the Resulting Issuer on a post-transaction and non-diluted basis. In connection with the Transaction, AAJ Capital will change its name to a name acceptable to Iron Bull and applicable regulatory authorities. It is expected that upon completion of the Transaction, the combined entity (the ?Resulting Issuer?) will meet the listing requirements of a Tier 2 Mining issuer under the policies of the TSX Venture Exchange (the ?Exchange?). Following completion of the Transaction, and subject to requirements of the Exchange, the board of directors of the Resulting Issuer will be comprised of five nominees of Iron Bull.

In addition to customary conditions respecting sponsorship, regulatory and shareholder approvals, and due diligence, the closing of the Transaction is subject to execution of a definitive agreement, exchange regulatory approval, and completion of the Consolidation and the Name Change. As per the filing on May 26, 2023, the letter of intent expired on April 28, 2023. The AAJ Capital 3 Corp and Iron Bull are in negotiations for an extension on the Transaction. Closing of the Transaction is required to occur by February 28, 2023, subject to extension upon mutual agreement of the parties.