Margaux REIT entered into a non-binding letter of intent to acquire Odessa Capital Ltd. (TSXV:ALFA.P) in a reverse merger transaction on March 19, 2024. Pursuant to the proposed transaction, each issued and outstanding common share of Odessa Capital and the units issuable on conversion of the Convertible Debentures will be exchanged into units of Marguax on a 1:1 basis so that all of the issued and outstanding Odessa Common Shares will be exchanged for approximately 1,666,666 units of Marguax. In connection with the Transaction, it is expected that the outstanding Odessa Common Shares and options will be consolidated on a 12:1 basis prior to the completion of the Transaction and issuance of REIT Units.

Prior to the completion of the transaction, Margaux intends to complete a non-brokered private placement offering of up to CAD 3,000,000. The transaction is subject to approval of the transaction by the boards of directors of Odessa and Margaux; satisfactory completion of due diligence; and execution of the definitive agreement.