GME Metals Limited entered into a letter of intent to acquire Rockport Capital Corp. (TSXV:R.P) for CAD 4.8 million on May 20, 2022. Pursuant to the Proposed Transaction, holders of the issued and outstanding GME Shares will receive one Rockport Share for each GME Share held (the “Exchange Ratio”). Pursuant to the Proposed Transaction, all existing securities convertible into GME Shares shall be exchanged, based on the Exchange Ratio, for similar securities to purchase Rockport Shares on substantially similar terms and conditions. Under the transaction, Rockport will acquire 100% of the issued and outstanding common shares of GME (the “GME Shares”) whereby the holders of GME Shares will receive common shares of Rockport (the “Rockport Shares”), in exchange for their GME Shares (the “Proposed Transaction”). It is expected that following the completion of the proposed transaction, shareholders of Rockport will hold approximately 9% of the Rockport Shares and the shareholders of GME will hold approximately 91% of the Rockport shares. If the Proposed Transaction is completed, it is anticipated that the board of directors of Rockport shall be reconstituted to consist of such directors as GME shall determine and all existing officers of Rockport shall resign and be replaced with officers appointed by the new slate of board of directors, with the exception that Harry Barr and Gordon Chunnett, both current directors of Rockport, who shall remain as directors of the resulting issuer. The Proposed Transaction is not considered a related party transaction and therefore does not require shareholder approval.