Health Logic Interactive Inc. (TSXV:CHIP.H) signed a non-binding Letter of Intent to acquire ChipBrain, Inc. on August 9, 2023. The signing of the LOI initiates a period of detailed due diligence by both companies to evaluate the merits and risks of the transaction. Upon satisfactory review, a definitive agreement is drafted detailing the specifics of the anticipated transaction, including terms, share exchange ratios, closing conditions, plans for financing, and other important details regarding the transaction. Subsequently, necessary disclosure documents are prepared and submitted to the TSXV. If required, existing shareholders may be asked to vote on the transaction. The TSXV then conducts a regulatory review, and once approved, the transaction is finalized, leading to the new entity being listed for trading.

Health Logic Interactive Inc. (TSXV:CHIP.H) cancelled the acquisition of ChipBrain, Inc. on November 15, 2023.