Ord Mountain Resources Corp. (TSXV:OMR.H) entered into a letter of intent to acquire Bloom Supply Ltd for CAD 2.3 million on June 30, 2020. Ord Mountain Resources Corp. entered into a share exchange agreement to acquire Bloom Supply Ltd on August 31, 2020. The transaction is expected to proceed by way of a share exchange under which OMR will issue 11.6 million OMR units in exchange for 11.6 million Bloom Supply shares, which represent 100% of the issued and outstanding shares of Bloom Supply. Under the transaction, shareholders of Bloom Supply will receive an aggregate of 11.6 million units of OMR, with each unit also consisting of one half of one purchase warrant exercisable at a price of CAD 0.50 for a period of two years, representing aggregate consideration of CAD 1.7 million for their Bloom Supply shares. OMR will also undertake a private placement, under which OMR will raise gross proceeds of no less than CAD 2 million through the issuance of subscription receipts at a price of CAD 0.15 per subscription receipt, which subscription receipts are automatically convertible into units of securities of the Resulting Issuer resulting from the transaction upon satisfaction of certain conditions. Each unit is comprised of one common share of the Resulting Issuer and one-half of one common share purchase warrant. On closing of the transaction and assuming that OMR raises CAD 2 million under the private placement, the Resulting Issuer will have 29.6 million common shares issued and outstanding. The current shareholders of OMR would hold approximately 15.08% of the shares, participants in the private placement would hold approximately 44.99% of the shares and the current shareholders of Bloom Supply would hold approximately 39.14% of the shares of the Resulting Issuer. In conjunction with the closing of the transaction, OMR will change its name to “Bloom Supply Ltd.”, or such similar name as is agreed to by the parties. The Resulting Issuer will be an Industrial/Technology/Life Sciences issuer under the policies of the Exchange. Concurrent with the completion of the transaction, the Board of Directors of OMR will be reconstituted and will be comprised of at least three Directors, including two incumbent Directors of OMR, Luke Montaine (currently Director, Chief Executive Officer and Chief Financial Officer of OMR) and Alex Klenman (currently Director of OMR), as well as one nominee put forth by Bloom Supply, being Richard Lonsdale-Hands will also be appointed as Director of the Resulting Issuer, and prior to closing the parties will mutually determine the Chief Financial Officer of the Resulting Issuer. The transaction is subject to completion of certain conditions precedent, including without limitation: execution of the Definitive Agreement; the preparation and filing of a Filing Statement with the Exchange; completion by OMR of a private placement for gross proceeds of no less than CAD 2 million; completion of satisfactory mutual due diligence; receipt of required shareholder approvals; and receipt of all necessary regulatory and Exchange approvals. Under the letter of intent, OMR and Bloom have agreed to act in good faith to draft, negotiate and execute a definitive agreement respecting the transaction.