Cabernet Capital Corp. (TSXV:CAB.P) entered into non-binding letter of intent to acquire 4.9% stake in EVVO Labs Pte Ltd. for CAD 1.5 million on January 16, 2018. Cabernet Capital Corp. (TSXV:CAB.P) entered into definitive agreement to acquire 4.9% stake in EVVO Labs Pte Ltd. for CAD 1.5 million on February 26, 2018. Cabernet Capital Corp. will acquire 0.03 million shares. As at June 30, 2017, EVVO Labs Pte Ltd reported total assets of SGD 5.1 million (CAD 4.82 million). Following completion of the transaction, Robert Meister and Hani Zabaneh, two of Cabernet's current Directors and Cabernet's Chief Executive Officer and Chief Financial Officer, respectively, will continue while Hock Ghim Toh and Tan Kwang Meng Alvin will replace Dorian Banks and Melissa Bajic on Cabernet's Board of Directors. The transaction is subject to approval of Cabernet Capital Board, requisite regulatory approval, including the approval of the Exchange and completion of the acquisition of unsecured convertible bonds of Fourth Link Co. Ltd. by Cabernet Capital Corp. On September 7, 2018, the transaction is approved. Completion is expected to take place on or around September 7, 2018.