Qwick Media Inc. signed a non-binding letter of intent to acquire Main Street Media Company Ltd. for CAD 5.2 million on July 1, 2018. Under the terms of the letter of intent, Qwick will acquire all of the issued and outstanding securities of Main Street by issuing its approximately 100 million common shares to the shareholders of Main Street at a price of CAD 0.0525 per consideration share. Main Street shareholders will also receive one warrant for each five consideration shares for a total of approximately 20 million warrants to purchase common shares of Qwick at an exercise price of CAD 0.1 per common share for a term of three years. In connection with the transaction, Qwick intends to complete a pre-closing non-brokered private placement of secured subordinated convertible debentures for aggregate gross proceeds of up to CAD 1 million. These convertible debentures will be convertible into common shares of Qwick at CAD 0.08 per share (‘Pre-Closing Financing’). Qwick intends to settle debt of approximately CAD 0.7 million through the issuance of convertible debentures in the principal amount of approximately CAD 0.7 million. Additionally, Ross Tocher, Chief Executive Officer of Qwick, will convert his shareholder loans of approximately CAD 1.6 million into CAD 0.6 million convertible debentures in the approximate amount of CAD 0.6 million and approximately CAD 1 million into 19 million common shares of Qwick at CAD 0.0525 per share. The proceeds from the Pre-Closing Financing will be used to pay for the closing costs of the transaction. Upon completion of the transaction, Qwick will integrate its business with the business of Main Street. Upon the closing of the transaction, the board of directors of Qwick will comprise of seven directors, of which three will be current directors of Qwick, three will be nominees of Main Street and one will be a nominee mutually agreed upon by the parties. The executive team shall be comprised of Ross Tocher, Executive Chairman, Darren Penner, President and Chief Executive Officer and Michael McIsaac, Chief Financial Officer. The transaction is subject to, satisfactory due diligence by the parties, entry into a definitive agreement, approval of the Canadian Securities Exchange, completion of the Pre-Closing Financing, approval of the shareholders of Qwick, if applicable, and other customary conditions. The consideration shares and debt shares are expected to be subject to escrow provisions. The transaction is expected to close on or before September 30, 2018. Thunderstone Capital Inc. acted as financial advisor to Qwick and Renaissance Mergers & Acquisitions acted as financial advisor to Main Street in the transaction. Additionally 1 million Qwick warrants will be issued to advisors as compensation in connection with the transaction. Qwick Media Inc. cancelled the acquisition of Main Street Media Company Ltd. on November 28, 2018. The Letter of Intent has subsequently expired with the parties having not reached a formal agreement.