2179602 Alberta Ltd. entered into an asset purchase agreement to acquire Substantially all Assets of Divestco Inc. (TSXV:DVT.H) for $14.9 million on March 19, 2019. The aggregate estimated purchase price is comprised of credit and set-off of debt owing to the Proposed Purchaser of approximately $14.2 million, the assumption of certain assumed liabilities which have a value currently estimated to be approximately $0.74 million and the payment of the actual costs of the CCAA proceedings which are currently estimated to total approximately $0.4 million. The transaction is subject to approval of Court of Queen's Bench of Alberta. The execution and delivery of the Acquisition Agreement was approved by the disinterested members of the Board of Directors of Divestco and there were no contrary views or disagreements in respect thereof. As of April 30, 2019, the sales solicitation process in the transaction was officially closed. Grant Thornton Corporate Finance, LLC acted as financial advisor to Divestco. As on March 27, 2019, Court approval received and With respect to the Acquisition Agreement, the Court has approved an aggregate estimated purchase price of approximately $15.2 million, being comprised of a credit bid and set-off of debt owing to the Proposed Purchaser of approximately $13.8 million, the assumption of certain assumed liabilities which have a value currently estimated to be approximately $ 0.98 million. The Court also approved an extension to the stay of proceedings granted in connection with Divestco's CCAA proceedings until May 24, 2019. This date has been further extended to June 15, 2019 with the courts approval. The court further approved the sale of assets to 2179602 Alberta Ltd. as on May 14, 2019. The transaction is expected to close on May 31, 2019. 2179602 Alberta Ltd. completed the acquisition of Substantially all Assets of Divestco Inc. (TSXV:DVT.H) on June 1, 2019. After the acquisition 2179602 Alberta Ltd. has officially been named Divestco Geoscience Ltd. In connection with the completion of this transaction, all directors and officers of Divestco will resign. Stephen Popadynetz has been appointed to the new Board of Directors of Divestco Geoscience. The management team of Divestco have been terminated by Divestco and hired by Divestco Geoscience, together with substantially all other Divestco personnel, who have also moved over to Divestco Geoscience.