Nanomedic Technologies Ltd. entered into a letter of intent to acquire A-Labs Capital IV Corp. (TSXV:ALCC.P) in a reverse merger transaction.

Nanomedic Technologies Ltd. entered into a letter of intent to acquire A-Labs Capital IV Corp. (TSXV:ALCC.P) in a reverse merger transaction on March 15, 2022. Under the letter of intent, the value of Nanomedic will be $60 million and A-Labs will be valued at $1.2 million.

The completion of the Transaction is conditional upon the completion of a private placement of securities of Nanomedic (the "Private Placement"), TSXV acceptance and if applicable pursuant to TSXV requirements, majority of the minority shareholder approval. As of March 1, 2023, A-Labs continues to work towards the completion of this transaction.