Tikkun Pharma, Inc. entered into a letter of intent to acquire Capricorn Business Acquisitions Inc. (TSXV:CAK.H) in a reverse merger transaction on July 1, 2019. Under the terms, Capricorn will issue 2.2216 shares for each share of Tikkun Pharma. The Qualifying Transaction will also provide that all outstanding options, warrants and broker warrants to purchase Tikkun Pharma Shares shall be exchanged for economically equivalent securities of the Resulting Issuer, subject to adjustment in number and exercise price based on the Exchange Ratio. The current shareholders of Capricorn will hold 6.75 million shares of the combined entity representing approximately 9.4% of the combined company and the former shareholders of Tikkun Pharma will hold approximately 76.6% of the combined company. In connection with the transaction, Tikkun Pharma intends to complete a non-brokered private placement of CAD 1.5 million and subsequent financing of CAD 5 million. The combined company will be called Tikun Olam Skin Care Corp. The combined company will appoint Michael Indursky as Executive Chairman and interim Chief Executive Officer, Eric Lerner as President , John Van Buiten as Chief Financial Officer and Lorne Gertner, David Stefansky, Barry Farkas, Gerald Goldberg as Directors. The transaction is subject of completion of satisfactory due diligence, Tikkun and Capricorn entering into a definitive agreement, Capricorn and TO Skincare obtaining, if necessary, the requisite Board and shareholder approvals. The transaction requires shareholder approval and regulatory approvals including, without limitation, exchange approval. FMI Capital Advisory Inc. acted as financial advisor to Tikkun Pharma and will be paid success fee of 5% shares of the combined company. Tikkun Pharma, Inc. cancelled the acquisition of Capricorn Business Acquisitions Inc. (TSXV:CAK.H) in a reverse merger transaction on November 12, 2019.