Eagle Lake Laboratories, Inc. acquired remaining stake in Sollensys Corp. (OTCPK:SOLS) in a reverse merger transaction for approximately $670 million on November 30, 2020. Sollensys acquired 10 million shares of Eagle representing all of its issued and outstanding capital stock in exchange for the issuance to the Eagle Lake shareholders of 95 million shares of Sollensys. Pursuant to the transaction, Eagle Lake became a wholly-owned subsidiary of Sollensys and the business of the Eagle Lake became the business of Sollensys. The transaction is subject to Sollensys' completion of due diligence on Eagle and approval of the transaction by the Boards of both Eagle and Sollensys. John Cacomanolis of Anthony L.G., PLLC acted as the legal advisor to Eagle.

Eagle Lake Laboratories, Inc. completed the acquisition of remaining stake in Sollensys Corp. (OTCPK:SOLS) in a reverse merger transaction on November 30, 2020.