New Leaf Ventures Inc (CNSX:NLV) entered into letter of intent to acquire Zen Asset Management LLC from Artizen Asset Management LLC on December 22, 2020. The Proposed Transaction is expected to proceed by way of a business combination agreement (the “Acquisition”) pursuant to which New Leaf Ventures will acquire 100% of the voting control of ZAM in exchange for the following consideration: (a) the transfer of all of the issued and outstanding securities of New Leaf USA Inc. (“New Leaf USA”) and its subsidiaries, directly or indirectly, to ZAM and (b) New Leaf Ventures altering its authorized capital structure to redesignate its outstanding common shares as subordinate voting shares (the “NLV Subordinate Voting Shares”) and creating a new class of special voting shares, pursuant to which the Company shall then issue such NLV Special Voting Shares to Artizen. Upon completion of the acquisition, Artizen shall be entitled to appoint one board member to the Board of Directors of NLV and to appoint the Chief Executive Officer of the Company. Mr. Mike Stier will become President of the Company. In connection with the Proposed Transaction, the Company will also amend its articles such that certain fundamental transactions and significant corporate actions shall require class-based shareholder approval. The Proposed Transaction is subject to a number of conditions, including due diligence, the negotiation of a definitive agreement, approval of the shareholders of NLV and the Canadian Securities Exchange. As of January 19, 2021 the transaction expected to close in the first quarter of 2021. New Leaf Ventures Inc (CNSX:NLV) cancelled the acquisition of Zen Asset Management LLC from Artizen Asset Management LLC on June 18, 2021. Having particular regard to the timing and other opportunities available to New Leaf Ventures Inc, it has determined not to proceed forward with the contemplated transaction involving Zen Asset Management LLC and its parent company, Artizen Asset Management LLC.