Sanolla Ltd. entered into a heads of agreement to acquire AdRabbit Limited (TSXV:RABI) in a reverse merger transaction on August 18, 2022. As per the transaction, the combined entity will operate the business of Sanolla, and be listed on the TSX venture exchange. The transaction is subject to satisfactory completion of due diligence by both parties, the successful negotiation and execution of a definitive agreement, regulatory approvals and shareholder approval. As per the update on December 9, 2022, The HOA has expired in accordance with its terms and there is no binding agreement currently in place between the parties with respect to the Proposed transaction.

Sanolla Ltd. cancelled the acquisition of AdRabbit Limited (TSXV:RABI) in a reverse merger transaction on February 27, 2023.