DriveItAway Inc. entered into a share exchange agreement to acquire Creative Learning Corporation (OTCPK:CLCN) in a reverse merger transaction on December 7, 2021. Under the terms of the transaction, Creative Learning Corporation will issue one share of Series A Convertible Preferred Stock of Creative Learning Corporation for each outstanding share of Driveitaway common stock. The shareholders of DriveItAway, Inc. will become the beneficial owners of approximately 85% of the Company's common stock following the closing.

DriveItAway, will become the operating business of Creative Learning Corporation and will be led by the DriveItAway management team, which will focus exclusively on automotive mobility technologies and programs. Post-closing, all the existing members of the Board of Directors of Creative Learning Corporation have agreed to resign, and John Possumato, Adam Potash and Paul Patrizio will be appointed to the Creative Learning Corporation's Board. Christopher Rego and Rod Whiton have agreed to resign as officers, and upon their resignation John Possumato will be appointed as Chief Executive Officer and Adam Potash will be appointed as Chief Operating Officer. Mike Elkin has agreed to remain as Chief Financial Officer of Creative Learning Corporation. The closing of the share exchange is subject to a number of conditions.

The transaction is expected to occur in January 2022.