Hornby Bay Mineral Exploration Ltd. announce that it has entered into a non-binding letter of intent dated May 18, 2020 with REMY Biosciences Inc. pursuant to which, the Company will acquire all of the issued and outstanding common stock of REMY. It is anticipated that the Proposed Transaction will be structured as a share exchange, plan of arrangement, amalgamation, or other similar form of transaction mutually acceptable to the parties. Upon closing of the Proposed Transaction, the current directors and officers of the Company will resign and be replaced by persons nominated by REMY.