Oncolix, Inc. entered into a definitive agreement to acquire Advanced Environmental Petroleum Producers, Inc. (OTCPK:AEPP) (‘AEPP’) in a reverse merger transaction on July 18, 2017. The transaction is structured as the purchase by AEPP of Oncolix in exchange for 71.8 million AEPP common shares. AEPP will issue approximately 62.1 million shares of voting Series A Preferred Stock for all of the outstanding voting Series A Preferred Stock of Oncolix. Each share of AEPP Series A Preferred Stock issued will be convertible into one share of common stock of Advanced Environmental Petroleum Producers. The actual number of AEPP shares to be issued upon conversion may increase if certain anti-dilution provisions are triggered based on the issuance or actual conversion price of other securities. The number of shares of AEPP common stock issuable upon exercise or conversion of these securities is subject to adjustment based on the trading price of the AEPP common stock post-closing. Existing shares of AEPP common stock owned by Oncolix will be cancelled in the transaction. After the completion of transaction, AEPP will change its name to Oncolix, Inc. All the Series A preferred Stock Holders will have the right to separately elect one member to the Board of Directors of the surviving public company. The Officers and Directors of Oncolix shall become the officers and directors of the surviving corporation. The merger is subject to certain closing conditions including issuances of the merger shares in the merger shall be exempt from registration with the Securities & Exchange Commission under Regulation D of the Securities Act, additional financing in a minimum amount of $1 million, on terms acceptable to each party, shall close at or about the effective time, existing convertible notes issued by Oncolix shall be exchanged for substantially identical securities issued in the financing, Oncolix shall not have received notice from Oncolix shareholders representing 20% or more of the capital stock of Oncolix perfecting dissenter’s rights, approval of Board of Directors and the holders of a majority of the voting capital stock of Oncolix, among other conditions. On July 24, 2017, the AEPP Board unanimously approved the merger. A majority of the stockholders and the Board of Oncolix have also approved the transaction. The transaction is expected to be completed not later than September 15, 2017. LifeTech Capital acted as financial advisor to AEPP.