vMobo Inc. entered into a non-binding letter of intent to acquire First Light Capital Corp (TSXV:XYZ.P) in a reverse merger transaction on December 19, 2019. Under the terms of the transaction, First Light will issue common shares in its capital to the holders of common shares in the capital of vMobo on the basis of one First Light share for each vMobo share, following a consolidation of the vMobo shares on a 3.08:1 basis and a consolidation of the First Light shares on a 2.39:1 basis. vMobo will complete private placements, with the assistance of First Light and certain agents to raise a minimum of $5 million (CAD 6.53 million) as follows: (a) $1.2 million (CAD 1.57 million) in the form of a convertible debentures financing and; (b) $3.8 million (CAD 4.96 million) in the form of an offering of units at a price of CAD 0.55 ($0.42) per unit. It is anticipated that 42.1 million post consolidation First Light shares will be issued pursuant to the transaction based on the current capital structure of vMobo, having regard for the consolidations, the unit financing and the convertible debenture financing. Upon completion of the transaction, vMobo will become a wholly owned subsidiary of First Light Capital which intends to change its name to such name as vMobo and First Light Capital may determine, and the parties expect that the TSX-V will assign a new trading symbol for the resulting issuer. Post the transaction, all of the current members of the First Light Capital Board of Directors will resign and nominees of vMobo will be appointed as management and Directors of the listed issuer resulting from the transaction. Closing of the transaction is subject to number of terms and conditions, including, but not limited to, the parties entering into the Definitive Agreements on or before March 31, 2020, the completion of satisfactory due diligence investigations, the closing of the private placements of units and debentures, and the approval of the TSX-V and other applicable regulatory authorities. No aspect of the transaction requires the approval of shareholders of First Light.