Easy Technologies Inc. (OTCPK:EMYS.F) entered into a binding letter of intent to acquire Shanghai Biotechnology Devices Ltd. on April 22, 2021. Easy and Virax Biolabs are proposing to enter into a business combination by way of an amalgamation, share exchange, arrangement or other similar form of Transaction which will result in Virax Biolabs combining its corporate existence with that of Easy. Prior to or concurrent with the Transaction, Shanghai Biotechnology may undertake a bridge financing (the “Bridge Financing”) on a non-brokered private placement basis by issuing convertible debentures for aggregate gross proceeds of up to CAD 1 million, with each convertible debenture automatically converting into Virax Shares immediately prior to completing the Transaction at a conversion price equal to a 20% discount to price of a Subscription Receipt. Prior to or concurrent with the Transaction, Shanghai Biotechnology will complete a brokered private placement (the “Concurrent Financing”) of up to CAD 5 million by way of subscription receipts (the “Subscription Receipts”). The Subscription Receipts will automatically be converted into units of Virax Biolabs, with each unit being comprised of one Virax Shares and one-half of one Virax Share purchase warrant, and which securities shall be subsequently exchanged for equivalent securities of the resulting issuer upon completion of the Transaction. Upon closing of the contemplated Transaction, the current board of directors of Easy shall resign. Following completion of the contemplated Transaction, the officers of Virax Biolabs shall be the proposed and unchallenged nominees of Easy. In connection with the business combination, to the extent necessary, Easy will call a special meeting of its shareholders in order to: (i) approve the Transaction; (ii) approve the change of its name to “Virax Biolabs”, or such other name Virax Biolabs may determine; and (iii) approve such other things as is necessary to complete the Transaction. Shanghai will call a special meeting of its shareholders in order to approve any such things as is necessary to complete the Transaction.