Arax Holdings Corp. (OTCPK:ARAT) agreed to acquire Cilandro SA on May 4, 2023. Pursuant to the provisions in the Sale Purchase Agreement, the Company will issue (one hundred and ten thousand) 110,000 shares of its common stock at fair market value as of the date of the Sale Purchase Agreement.

In addition, the Company will issue a 10% convertible note for (Fifty Eight Thousand Dollars) $58,000 with a maturity date of December 31, 2023. The convertible note has an option to convert into the Company's common stock with a conversion price of (One Dollar) $1.0000.The common shares issued for the conversion if exercised, shall be issued with a restriction under Rule 144 of the U.S. Securities and Exchange Commission Act of 1934. The completion of the sale must be reported and approved by SOFIT a self-regulatory AML (Anti Money Laundering) regulatory body authorized by FINMA (Swiss Financial Market Supervisory Authority) in Switzerland.