First Responder Technologies Inc. (CNSX:WPN) entered into a letter of intent to acquire Airbeam Wireless Technologies Inc. for CAD 74.8 million on November 27, 2020. All the issued and outstanding common shares of Airbeam will be acquired in exchange for common shares in the capital of First Responder. Pursuant to the acquisition, certain of the First Responder shares issuable may be subject to the escrow requirements of the Exchange and to hold periods as required by applicable securities laws. Upon completion of the acquisition, it is anticipated that the resulting entity will continue the combined businesses of Airbeam and First Responder under a name to be determined by First Responder and Airbeam. On or prior to the Effective Date, First Responder shall change its name to Airbeam Technologies Inc. or such name as may be mutually agreed upon by the Parties, subject to the approval of the Exchange and as may be accepted by the Registrar. The name of Amalco shall be Airbeam Acquisition Corp. Following the closing, the board of directors of the resulting entity is expected to consist of seven directors, four of which will be nominees of Airbeam and three of which will be nominees of First Responder. This Agreement may be terminated at any time by written agreement executed and delivered by First Responder and Airbeam and by any Party if the Effective Date shall not have occurred by the Outside Date. Karim Arabi, current Chairman of Airbeam, and Wayne Lloyd, current President of Airbeam are expected to become Directors of the resulting entity. Robert Delamar is expected to be Chief Executive Officer and a Director of the resulting entity. Naresh Singhal is expected to be Chief Technology Officer with other officers to be determined in due course by the board of directors of the resulting entity. In respect of the acquisition, the transaction is subject to completion of a bridge financing, completion of a concurrent financing, customary due diligence, a definitive agreement on or before February 12, 2021 or such other date as First Responder and Airbeam may mutually agree, compliance with all applicable regulatory requirements and receipt of all necessary regulatory, corporate, third-party, board and shareholder approvals being obtained, including the approval of the Exchange. As of February 16, 2021, First Responder and Airbeam are continuing to work towards completion of a definitive agreement and have agreed to extend the deadline of the LOI to March 15, 2021. As of March 2, 2021 entered into a definitive agreement. First Responder Technologies Inc. will issue 679,699,408 shares on the basis of 9.78 First Responder Shares for every one Airbeam Share.