Blockchain Innovations Corp. signed a letter of intent to acquire Capricorn Business Acquisitions Inc. (TSXV:CAK.H) in a reverse merger transaction on May 25, 2018. As a part of the transaction, Capricorn will issue 69.1 million common shares in the capital of Capricorn. Also, Capricorn will issue 3.75 million warrants to purchase shares at a price of CAD 0.30 per share, 0.6 million compensation options, 7.8 million warrants to purchase share at a price of CAD 0.42 per share, and 1.25 million compensation options. Blockchain Innovations is currently undertaking a private placement for gross proceeds of CAD 1.5 million. BCI also intends to complete a further financing immediately prior to closing of the transaction for gross proceeds of a minimum of CAD 3 million and a maximum of CAD 5 million. Prior to the completion of the transaction, Capricorn is expected to complete a share consolidation of its shares on a 1.4 old shares for one new share basis, whereby Capricorn would have 4.82 million issued and outstanding prior to completion of the transaction. Post-acquisition, it is expected that Matt Stafford, David Wang, Morris Mosseri, David Lubotta and FMI Capital Advisory Inc. will hold 5.4%, 14.4%, 17.1%, 14.4% and 8.1% of the resulting issuer on basic undiluted basis, respectively. Post-acquisition, it is anticipated that the Resulting Issuer will be a Tier 2 Industrial and Technology company. Post-acquisition, the proposed management and Directors of Blockchain Innovations consists of David Wang as Chairman of the Board, Matt Stafford as the Chief Executive Officer, Morris Mosseri as Chief Technology Officer, and David Lubotta and Alex Storcheus as Directors. It is expected that after completion of the transaction, the Board of Directors of Capricorn Business will be comprised of five individuals who will be determined at a later date. The transaction is subject to completion of due diligence, receipt of all required regulatory including acceptance by TSX Venture Exchange, director and shareholder approvals, execution of definitive agreements and certain other customary conditions. FMI Capital Advisory Inc. acted as exclusive financial advisor to Blockchain Innovations. BlockChain Innovations Corp. cancelled the acquisition of Capricorn Business Acquisitions Inc. (TSXV:CAK.H) in a reverse merger transaction on April 5, 2019.