Robix Environmental Technologies, Inc. (DB:R0X) entered into a non-binding letter of intent to acquire Formation Fluid Technology Inc. (TSXV:FFM) for CAD 4.5 million in stock on May 26, 2016. As of August 26, 2016, agreement was signed. As part of the deal Robix will acquire all of the issued and outstanding common shares of Formation Fluid through a share exchange, amalgamation, plan of arrangement or such other comparable form of transaction as determined by Robix and Formation Fluid following a review of all relevant tax, corporate and securities law considerations and a due diligence review. Under the terms, Formation Fluid shareholders will receive approximately 0.425 of a common share of Robix for every one Formation Fluid common share. In connection with the Transaction, Robix will issue approximately 25.2 million shares to the Formation Fluid shareholders. In addition, the holders of the currently outstanding 3.6 million common share purchase warrants of Formation Fluid will be entitled to purchase an aggregate of up to 1.54 million Robix Shares and the holders of the currently outstanding 5.9 million stock options of Formation Fluid will be entitled to purchase an aggregate of up to 2.51 million Robix shares. Upon completion of the Transaction, Robix expects to have approximately 48.79 million Robix shares issued and outstanding, of which the former holders of Formation Fluid will hold approximately 47.5%. Upon completion of the Transaction, it is anticipated that the new combined entity (Resulting Issuer) will be listed on the Canadian Securities Exchange. Following the closing, two nominees of Formation Fluid, Ken Rose and Mark Bentsen, will be added to the Board of Directors of Robix. The proposed transaction is subject to a number of conditions including, Board of Formation Fluid and Robix, shareholder approval, approval of two-thirds of the votes cast by holders of Formation Fluid Shares at a special meeting of Formation Fluid shareholders, holders of not greater than 10% of the outstanding Formation Fluid shares shall have exercised dissent rights, each director and officer of Formation Fluid shall have provided their written resignation as a director and/or officer in favour of Robix, Formation Fluid shall enter into an employment with Mohammed Al-Mofty, approval of the TSX Venture Exchange, Canadian Securities Exchange and all other regulatory bodies having jurisdiction in connection with the subject transaction. As of August 29, 2016, The Board of Directors of Robix and Formation Fluid have both unanimously approved the transaction. Transaction is expected to close on or before October 12, 2016. Gravitas Securities Inc. acted as financial advisor for Robix Environmental. Canaccord Genuity Corp. acted as financial advisor for Formation Fluid. Roy Hudson of DLA Piper (Canada) LLP acted as legal advisor for Robix Environmental. Jay Zammit of Burstall Winger Zammit LLP acted as legal advisor for Formation Fluid Management. Computershare Trust Company Of Canada acted as transfer agent for Formation Fluid Management. Robix Environmental Technologies, Inc. (DB:R0X) completed the acquisition of Formation Fluid Technology Inc. (TSXV:FFM) on October 7, 2016. The shareholders of Formation Fluid at a special meeting held on October 7, 2016, approved the transaction.