DataMetrex Ltd signed a letter of intent to acquire Everfront Ventures Corp. (TSXV:EVC.H) in a reverse merger transaction on January 5, 2017. Pursuant to the transaction, Everfront will acquire all of the issued and outstanding securities of DataMetrex in exchange for equivalent securities of Everfront on a one-for-one basis. DataMetrex Ltd entered into a definitive acquisition agreement to acquire Everfront Ventures Corp. in a reverse merger transaction on February 28, 2017. In a related transaction and as part of combination, DataMetrex will complete a brokered or non-brokered private placement of securities to ensure that there are sufficient funds to satisfy any working capital requirements of the TSXV to obtain the final approval of TSXV. On the closing of the transaction, Everfront will be the resulting issuer and the business of Datametrex will become the business of the resulting issuer. The management of the Everfront will comprise of Andrew Ryu as Director and Chief Executive Officer, Jonathan Hobbs as Chief Technical Officer, Jeffrey Stevens as President and Chief Operating Officer, Steve (Byungjoo)) Kang as Chief Financial Officer, Stefan Baerg as Vice President-Sales & Marketing, Cory Taylor as Director, Donald W. Coons as Director and Charles Schade as Director. The transaction is subject to the TSX Venture Exchange approval and majority of the minority approval of the shareholders of Everfront. The deal is also subject to completion of private placement, approval of the Directors and shareholders of DataMetrex and Everfront, listing of securities, execution of escrow agreement, minimum balance sheet requirements and resignation and appointment of officers and directors. The transaction is expected to be close on or prior to April 28, 2017. As of May 11, 2017, Everfront Ventures Corp. received conditional approval from the TSX Venture Exchange. As approved by the Exchange, resulting issuer shares will trade under the trading symbol, "DM". The transaction is expected to be close on or about June 7, 2017. William Fung of Blake, Cassels & Graydon LLP acted as legal advisor to Everfront Ventures while Jason A. Saltzman of Gowling WLG (Canada) LLP acted as legal advisor to Datametrex. Haywood Securities Inc. acted as sponsor for Everfront and Datametrex. As per sponsorship agreement, Haywood Securities is to be paid a sponsorship fee of CAD 0.03 million plus applicable taxes, plus the sponsor’s legal fees up to a maximum of CAD 0.01 million plus applicable taxes and disbursements of which CAD 0.02 million was paid on signing of the engagement agreement and CAD 0.01 million is payable upon delivery of a sponsorship report to the Exchange.