Highmark Innovations Inc. entered into a share purchase agreement to acquire Highmark Health Mississauga Inc. on May 10, 2021. The purchase price under the agreement will consist of (i) an amount equal to CAD 0.18 million in cash, subject to post closing increases or decreases for certain indebtedness, transaction expenses, and determinations of working capital relative to target amounts specified in the agreement, for which the parties negotiated a holdback from the cash purchase price, as well as (ii) 1,342,103 Highmark Shares issued to the direct and indirect shareholders of Highmark Health at a deemed price of $0.76 per Highmark Share. The transaction is subject to approval of regulatory authority. The acquisition of Highmark Health is expected to be completed concurrently with completion of the Qualifying Transaction. Upon completion of the Highmark Health will become the wholly own subsidiary of Highmark Innovations Inc.

Highmark Innovations Inc. completed the acquisition of Highmark Health Mississauga Inc. on November 17, 2021. Craig Brown and Mitchell L. Thaw of Fasken Martineau DuMoulin LLP acted as a legal advisor to Highmark Interactive Inc.