FluroTech Ltd. (TSXV:TEST.H) entered into a non-binding letter of intent to acquire Great Slave Helicopters Ltd. (GS Heli) for CAD 75 million on December 21, 2023. FluroTech to acquire all of the issued and outstanding securities of GS Heli for an acquisition price of CAD 75 million, subject to customary adjustments, on a debt free basis. The Purchase Price is expected to be satisfied through a combination of bank term debt, cash and shares of the Resulting Issuer, in proportions to be determined by FluroTech and GS Heli. In connection with the Closing, it is anticipated that FluroTech will change its name to ?Canadian Aviation Partners Ltd.? Upon completion of the transaction, Resulting Issuer will have its listing transferred from the NEX board of the TSXV (?NEX?) to the TSXV. Subject to applicable shareholder and TSXV approval, it is anticipated that management and the board of directors of the Resulting Issuer will consist of Michael Rodyniuk, Chief Executive Officer and Director; Michael Partab, Chief Financial Office; Dale Wang, Chief Investment Officer; James O?Brien, General Counsel and Corporate Secretary; Pat Campling, Director; Sid Dutchak, Director and Stefan Georgescu, Director.

Completion of the Transaction is subject to a number of conditions, including, but not limited to, receipt of applicable regulatory and stock exchange approvals, including the approval of the TSXV, completion of satisfactory due diligence and the execution of the Definitive Agreement and related transaction documents and if applicable pursuant to TSXV requirements, majority of the minority shareholder approval.