14487460 Canada Inc. delivered a term sheet to acquire the remaining 61.5% stake in Taal Distributed Information Technologies Inc. (CNSX:TAAL) on October 12, 2022. 14487460 Canada Inc. entered into a definitive acquisition agreement to acquire the remaining 61.5% stake in Taal Distributed Information Technologies Inc. (CNSX:TAAL) for CAD 26.9 million on November 2, 2022. As per the terms of the transaction, 14487460 Canada Inc. shall acquire all of the remaining Common Shares of TAAL at a price of CAD 1.07 per Common Share. Following closing it is expected that the Common Shares will be delisted from the Canadian Securities Exchange and application will be made for TAAL to cease being a reporting issuer in Canada. Following completion of the Transaction, the Acquiror now indirectly holds 100% of the shares of Amalco. Following the completion of the Transaction, the Acquiror owns or exercises control over 40,592,886 Common Shares, representing 100% of TAAL's current issued and outstanding Common Shares. The Transaction requires approval by two thirds of the votes cast by shareholders, as well as the approval by a simple majority of votes cast by minority shareholders at the Special Meeting to be held in late December 2022. The TAAL shareholders meeting is scheduled on December 19, 2022. The Transaction is also subject to court approval and the satisfaction of other customary closing conditions. TAAL's board of directors unanimously approved the Acquisition Agreement following a unanimous recommendation from a special committee of independent directors comprised of Deborah Rosati, Marco Strub, Michael Darcy and Daniel Diemers constituted to review the Transaction. As of December 19, 2022, the shareholders of TAAL has approved the transaction. The hearing of the Ontario Superior Court of Justice is scheduled on December 21, 2022. As of December 21, 2022, the Ontario Superior Court of Justice has approved the deal. Transaction is expected to close prior to the end of 2022. Leede Jones Gable Inc. provided the fairness opinion and independent financial advisor to the Special Committee in connection with the Transaction. Alex Moore and Ryan A. Morris of Blake, Cassels & Graydon LLP is acting as legal advisor to the Company, SkyLaw Professional Corporation is acting as legal advisor to the Special Committee and Zohar Levy of Fasken, Martineau, DuMoulin LLP is acting as legal advisor to 14487460 Canada Inc. TSX Trust Company acted as transfer agent and depository bank to TAAL.

14487460 Canada Inc. completed the acquisition of the remaining 61.5% stake in Taal Distributed Information Technologies Inc. (CNSX:TAAL) on December 22, 2022. The Common Shares will be de-listed from the Canadian Securities Exchange no later than the close of business on December 22, 2022.