Daizee Diapers Corp. entered into a letter of intent to acquire Navion Capital Inc. (TSXV:NAVN.P) in a reverse merger transaction for CAD 0.98 million on April 20, 2020. The transaction is expected to result in the security holders of Daizee exchanging all securities, consisting of 9.66 million common shares, 0.25 million stock options, 0.19 million special warrants and 2.973 million purchase warrants of the Corporation for a total deemed consideration of CAD 0.97 million (not including the Concurrent Financing). As of January 11, 2021, Daizee is carrying out a private placement financing of approximately 8,000,000 units of Daizee at a price of CAD 0.10 per Unit for proceeds of approximately CAD 0.8 million with each Unit consisting of one common share of Daizee and one-half purchase warrant, which each full warrant being exerciseable into a common share at a price of CAD 0.20 for a period of twenty four months from the date of issuance. In a related transaction announced on June 10, 2020, Daizee Diapers and Omni Channel Platform Ltd. have signed a memorandum of understanding to collaborate for e-commerce shipping to new customers of its hybrid diaper in the UK and Western Europe with new warehousing and fulfillment partnership. The letter of intent contemplates Navion Capital and Daizee entering into a definitive agreement prior to May 15, 2020. As per the terms, upon completion of the transaction the resulting issuer's Board will be comprised of Directors that will be nominated by Daizee and Navion jointly. As of January 11, 2021, Daizee Diapers and Navion Capital entered into letter of intent Extension Agreement, extends the exclusivity period between the Corporation and Daziee in the letter of intent to March 31, 2021 or such earlier or later time as the Corporation and Daizee mutually agree, in order to provide more time for the parties to complete due diligence and enter into a definitive agreement. As of April 15, 2021, the parties entered into a second extension agreement that extends the exclusivity period to July 2, 2021. The transaction is subject to a number of conditions including, completion of private placement to raise a minimum CAD 1.5 million in additional funds by the issuance of common shares of Daizee (the “Concurrent Financing”), completion of satisfactory due diligence by each party by May 15, 2020, the approval of the transaction by the Board of Directors of each of Daizee and Navion, the Corporation will have obtained all necessary approvals, consents and acceptances, including all necessary approvals from the applicable securities regulatory authorities, the parties will prepare a filing statement or information circular in accordance with the rules of the TSXV, outlining the terms of the transaction and all requisite regulatory approvals relating to the transaction, including, without limitation, meeting the minimum listing requirements of the TSXV and obtaining TSXV approval. It is not anticipated that the transaction will require shareholder approval. Davidson & Company LLP provided auditor’s report on financials of Navion Capital. Daizee Diapers Corp. cancelled the acquisition of Navion Capital Inc. (TSXV:NAVN.P) in a reverse merger transaction on June 3, 2021. Navion Capital is continuing to rigorously evaluate potential Qualifying Transactions and will provide updated disclosure regarding these matters in due course.