Oracle Energy Corp. (TSXV:OEC) entered into a letter of intent to acquire Methanogenesis Corporation for CAD 0.25 million on February 28, 2020. Oracle Energy Corp. will issue shares in consideration and prior to issuing shares, Oracle will complete a consolidation of common shares in the capital of Oracle on the basis of one post-consolidation Oracle Share for each five Oracle Shares issued and outstanding immediately prior to the consolidation. As on May 11, 2020, the letter of intent is amended and the acquisition was flipped to fundamental acquisition rather than reverse takeover. The financing of the acquisition is done by private placement by Oracle of upto CAD 0.6 million. As per amended terms, Oracle will undergo a 4:1 share consolidation on the basis of one post-consolidation share for each four pre-consolidation shares. Pursuant to the amended letter of intent, the transaction will see the Methano Shares consolidated to approximately 16.8 million common shares, one less than the number of Oracle post-consolidation shares. As of January 25, 2021, Oracle Energy Corp. and Methanogenesis Corporation aim to sign the Definitive Agreement by February 15, 2021. The Transaction is subject to the completion of a non-brokered private placement financing by Oracle, All sales, exchanges, and issuances of any units, shares, warrants, and securities in connection to the financing and the transaction will be subject to regulatory approval including, but not limited to, the approval of the TSXV, due diligence review by each of Oracle and Methanogenesis, the negotiation, execution and delivery of a definitive agreement which will supersede the LOI, receipt of all requisite third party consents, waivers, permits, orders and approvals, the approval of the respective Boards of Directors of Oracle and Methanogenesis and the agreement and approval of the shareholders of Methanogenesis. Transaction will be completed on or before June 30, 2020. Oracle Energy Corp. (TSXV:OEC) cancelled the acquisition of Methanogenesis Corporation on April 26, 2021.