Final Bell Holdings, Inc. entered into a definitive share exchange agreement to acquire Karsten Energy Corp. in a reverse merger on October 14, 2021. As per the agreement, Karsten will acquire all of the currently outstanding shares of Final Bell in exchange for approximately 0.87 newly created proportionate voting shares of Karsten for each share of Final Bell. Karsten currently expects that approximately 1,873,101 proportionate voting shares of Karsten will be issued pursuant to the transaction. Karsten expects to change its name to, Final Bell Holdings International Ltd. Pursuant to the agreement, on closing the board of directors of Karsten will be reconstituted to consist of directors approved by Final Bell. The transactions under the Agreement are subject to customary conditions, including, among other things, the listing of Final Bell Holdings International's shares on the Canadian Securities Exchange (the "CSE"), approval by Final Bell Holdings International's shareholders of the reclassification of Final Bell Holdings International's common shares into subordinate voting shares and the creation of a new class of PV Shares, approval of the 14R shareholders, and the 14R shareholders entering into lock-up agreements in respect of the PV Shares issuable at closing. Closing of the transaction is currently expected to occur in the first quarter of 2022.Final Bell has extended the outside date for completing the business combination to October 31, 2022.

Final Bell Holdings, Inc. completed the acquisition of Karsten Energy Corp. in a reverse merger on November 30, 2022.