LSL Laboratory Inc. signed a letter of intent to acquire ILedor Exploration Corporation for CAD 47.7 million in a reverse merger transaction on March 26, 2021. LSL Laboratory Inc. entered into a share purchase agreement to acquire ILedor Exploration Corporation in a reverse merger transaction on December 22, 2022. Upon completion of the transaction, a prior consolidation of the Class “A” shares of the capital stock of Iledor at a ratio of thirty old outstanding shares for each new common share. Pursuant to the purchase agreement to be entered into for the transaction, the corporation has agreed to acquire the shares of LSL for a consideration of up to thirty-nine million nine hundred and eighty-eight thousand five hundred and fifty dollars payable by the issuance of up to fifty-seven million one hundred and twenty-six thousand five hundred post-consolidation common shares, being a deemed price of seventy cents per common share. ILedor agrees to purchase 68,089,000 LSL Common Shares in exchange for the issuance, subject to the required Regulatory Approvals, of 68,089,000 Common Shares (post-Consolidation). A finder's fee consisting of the issuance of 1,575,000 post-consolidation common shares will be payable to arm's length parties. Iledor will then change its name to LSL Pharma Group Corporation. The transaction will constitute a change in business within the meaning of the policies of the TSX Venture Exchange.

Iledor announces the appointment of the resulting issuer's officers and directors, which will become effective upon completion of the transaction which includes François Roberge, President and Chief Executive Officer and director of LSL, Marc Rousseau, Vice-President and Chief Financial Officer of LSL, Jacques-André St-Pierre, Vice President of Operations, Steri-Med division of LSL and Francis Racine, Vice President of Operations, generic natural health products division of LSL. Upon completion of the transaction, the Board of Directors of the resulting issuer will consist of a minimum of six members, four of whom are announced. In addition to François Roberge, the following independent persons will be proposed, Luc Mainville, Sylvain Aird  and Alain Larochelle.

The transaction is will be subject to a number of conditions precedent, including shareholder, exchange approvals, due diligence, completion of the minimum private placement and receipt of necessary regulatory, stock exchange corporate approvals, the consolidation and the name change, by the special meeting of the corporation's shareholders and by the Exchange. The Board of Directors of ILedor unanimously recommends that the Îledor Shareholders approve the Transaction. The proposed transaction and consolidation are expected to be completed by the second quarter ending June 30, 2021, of the corporation's fiscal year or during the third quarter. TSX Trust Company acted as transfer agent and registrar to ILedor. Seguin Racine, Ltd acted as legal advisor to LSL Laboratory Inc.

LSL Laboratory Inc. completed the acquisition of ILedor Exploration Corporation in a reverse merger transaction on February 22, 2023. Transaction was approved by the shareholders of ILedor Exploration Corporation. Groupe LSL Pharma Inc. / LSL Pharma Group Inc. is the new name of the resulting issuer. The Common Shares of the Corporation will be listed on the TSXV under the ticker symbol "LSL" on or about March 1, 2023. As of February 27, 20223, completion of the minimum private placement has been achieved.