Next Level Health Sciences Inc. entered into a definitive agreement to acquire Quinto Resources Inc. (TSXV:QIT) in a reverse merger transaction on April 30, 2021. Pursuant to the terms of the transaction, all the issued and outstanding shares of Next Level will be exchanged for approximately 68 million post-consolidated common shares in the capital of Quinto, based on a ratio of 1.40 shares of Quinto for every share of Next Level, and assuming completion of the financings of Next Level. Prior to the closing of the transaction, Quinto will complete a consolidation of its common shares on the basis of 10 pre-consolidated common shares for one post consolidated common share. Next Level will conduct two non-brokered financings for aggregate gross proceeds of approximately up to CAD 1 million to close prior to the closing of the transaction and the consolidation of shares. Quinto will complete a non-brokered financing for gross proceeds of not less than CAD 3 million. Upon completion of the transaction, the board of directors of the Resulting Issuer will consist of five directors, three of which will be designated by Next Level and two by Quinto, with at least two independent directors on the board of the Resulting Issuer. The transaction is subject to the completion of a due diligence review by both parties, the signing of a definitive agreement, completion of the two non-brokered financings, and regulatory approval. Quinto will require the approval of its shareholders to complete the transaction and will call a shareholder meeting, subject to TSXV approval. Quinto will also obtain the approval for the consolidation of shares from its board of directors and will also seek approval for the consolidation of shares from its shareholders, subject to receiving TSX Venture Exchange approval. The directors and officers of Quinto will agree to support and vote in favour of or otherwise approve of the consolidation of shares resolution, including executing the written consent resolution. Quinto expects to retain the services of Haywood Securities Inc. to act as sponsor in connection with the transaction. Next Level Health Sciences Inc. cancelled the acquisition of Quinto Resources Inc. (TSXV:QIT) in a reverse merger transaction during the second quarter ended July 31, 2021. Due to lack of funding, the transaction will not proceed.