Specialty Liquid Transportation Corp. (‘SLT’) entered into a letter of intent agreement to acquire Blue Bay Capital Inc. (TSXV:BLUE.P) in a reverse merger transaction on March 29, 2018. Under the terms, Blue Bay will acquire STL by issuing 93 million shares in exchange for all outstanding shares of SLT on the basis of one share for every one share held by the SLT shareholders at a deemed transaction price of CAD 0.4 per share on a post consolidated basis. Blue Bay will consolidate its shares on a 2 old shares for 1 new share and the total issued and outstanding shares of Blue Bay will consolidate from 7.9 million shares to 3.95 million shares. Pursuant to the transaction, Blue Bay will issue a total of 10.8 million post-consolidated common shares and 79.3 million Class B restricted voting shares to SLT. SLT will on closing hold 100% of Environmental Packaging Technology, Inc. In a related transaction, Blue bay will conduct a private placement of up to CAD 5 million. Additionally, Blue Bay expects that it will, on closing of the transaction, issue the following securities pursuant to completed and pending financing transactions, (i) 3 million shares of Blue Bay on conversion of convertible debentures issued by SLT pursuant to a financing for proceeds of CAD 1.2 million, (ii) 2.8 million shares of Blue Bay pursuant to the conversion of convertible debentures issued by SLT pursuant to a financing for proceeds of CAD 1.1 million, (iii) 5.8 million units of Blue Bay pursuant to a brokered private placement of units of Blue Bay and its subsidiary for gross proceeds of CAD 2.3 million. SLT has also reached agreements to exchange CAD 2.4 million of term notes held by noteholders of Environmental Packaging Technology, Inc. ("EPT") into convertible debentures. In accordance with Exchange policies, Blue Bay shares are currently halted from trading and may remain halted until completion of the transaction. Post-acquisition, Blue Bay will change its name to Specialty Liquid Transportation Corp. and in connection with the name change has reserved the trading symbol "SLT.V". Specialty Liquid Transportation paid cash commission of CAD 0.16 million and corporate finance fee of CAD 0.08 million corporate finance fee issued 0.4 million compensation options to a syndicate of agents led by PI Financial CorpOn closing, Blue Bay’s Directors and officers will be comprised of David Skriloff as Chief Executive Officer and Director, Shane Sims as Chief Operating Officer, Peter Lee as Interim Chief Financial Officer, and Rana Vig, Ian Troop, Sokhie Puar, Steven Lefkowitz as Directors. The transaction is subject to regulatory approvals, including Exchange approval, shareholder approval of Blue Bay and SLT, third party and corporate approvals, execution of definitive agreement, consummation of merger of Environmental Packaging Technologies and SLT, completion of private placement by Blue Bay, receipt by SLT of no less than CAD 3 million of gross proceeds in a proposed private placement of subscription receipts of SLT, completion of due-diligence process and a sponsor filling sponsorship report with the exchange supporting the transaction. As of August 13, 2018, Board of Directors of Blue Bay Capital has approved the transaction. As of October 29, 218, the transaction is expected to close on or about October 30, 2018. Dale Matheson Carr-Hilton LaBonte LLP acted as the accountant for Specialty Liquid Transportation and Blue Bay Capital. Anton & Chia LLP acted as the accountant for Environmental Packaging Technologies. Eric Foster of Dentons Canada LLP acted as legal advisor to Specialty Liquid Transportation Corp. Edward Mayerhofer of Morton Law LLP acted as legal advisor to Blue Bay Capital Inc. Specialty Liquid Transportation Corp. (‘SLT’) completed the acquisition of Blue Bay Capital Inc. (TSXV:BLUE.P) in a reverse merger transaction on October 31, 2018. Pursuant to the terms of a surplus escrow agreement dated October 29, 2018, SLT, Computershare Investor Services Inc. and certain shareholders of SLT an aggregate of 10.8 million common shares and 79.3 Class B shares have been placed in escrow, whereby 5% of such securities will be released upon the issuance of the Final TSXV Bulletin, and the balance of such securities will be released in six months intervals over the following 36 months.