NOBELIUM TECH CORP. announced it has entered into a letter of intent dated October 8, 2020 (the "LOI") with 2777470 Ontario Inc. DBA as Hank Payments ("Hank"), a private company incorporated under the Canada Business Corporations Act whereby Nobelium and Hank will complete a business combination, an arrangement, amalgamation, share exchange or similar transaction to ultimately form the resulting issuer (the "Resulting Issuer") who will continue on the business of Hank (the "Transaction"), subject to the terms and conditions outlined below. Nobelium intends that the Transaction will constitute its Qualifying Transaction.Nobelium's shares have been halted and Nobelium expects that trading in its common shares will remain halted pending closing of the Qualifying Transaction with Hank.

In connection with the Transaction, Nobelium anticipates that it will acquire all of the issued and outstanding shares of Hank ("Hank Shares") on the basis of one (1) common share of Nobelium ("Nobelium Shares") for each one (1) Hank share. Prior to the closing of the Qualifying Transaction Nobelium shares and stock options will be consolidated on a 4:1 basis (the "Nobelium Share Consolidation")). Any outstanding convertible securities of Hank will be exercisable for comparable convertible securities of Nobelium.

The LOI contemplates Nobelium and Hank completing a business combination transaction, pursuant to which Nobelium Shares, or Resulting Issuer shares (as the case may be), will be issued to holders of shares of Hank on the basis of one post-consolidation Nobelium Share (or Resulting Issuer share as applicable) for every one Hank share, the exchange ratio. The final structure of the Transaction is subject to receipt of tax, corporate and securities law advice for both Hank and Nobelium. On completion of the Transaction, the security holders of Hank would own a majority of the issued and outstanding shares of the Resulting Issuer.

The common shares of the Resulting Issuer will be listed for trading on the TSXV Exchange (the "Exchange"). The Transaction is not a "Non-Arm's Length Qualifying Transaction" within the meaning of Policy 2.4 of the Exchange.