Songistry Inc. entered into a letter of intent to acquire HAW Capital 2 Corp. in a reverse merger transaction for CAD 22 million on December 2, 2021. In connection with the Proposed Transaction, it is anticipated that at least 33,151,282 HAW2 common shares will be issued to Songistry securityholders in exchange for their Songistry securities. In addition, HAW anticipates that immediately prior to the closing of the Qualifying Transaction, HAW2 will cause its share capital to be consolidated on the basis of 4.42:1. HAW expects to be renamed "Songistry Inc."

The Proposed Transaction is subject to compliance with all necessary regulatory approval, Exchange acceptance, approval of the Proposed Transaction by the board of directors of HAW, HAW shareholder approval, satisfactory completion of due diligence and other approvals and certain other terms and conditions, including those set out in the Definitive Agreement. Closing of the Proposed Transaction is subject to the completion by Songistry of a concurrent equity financing of a minimum of CAD 4 million and a maximum of CAD 5.5 million prior to the closing of the Proposed Transaction.