ecologyst has signed a non-binding Letter of Intent leading to a proposed Qualifying Transaction with Trail Blazing Ventures Ltd.

ecologyst Outfitters Inc. (“ecologyst”) is pleased to share that we have signed a non-binding Letter of Intent (“LOI”) with Trail Blazing Ventures Ltd. (“Trail Blazing”, TSXV: BLAZ.P), a Capital Pool Company (“CPC”), as of August 4, 2022. If the transaction is completed, ecologyst will become publicly listed on the TSX Venture Exchange (TSX.V).

For further details, you can find the full news release.

We have compiled some questions and answers to help you understand this exciting development.

Q: What is a Capital Pool Company?

A: Offered by the TMX Group, the Capital Pool Company (CPC) program supports earlier stage private companies complete go-public transactions. The process, also known as a Qualifying Transaction, involves an amalgamation of an operating company, such as ecologyst, with a shell company, the CPC, such as Trail Blazing. If the transaction is completed, the operating company will access the capital, shareholders, and expertise of the CPC and become a publicly traded company on the TSX.V.

The CPC program is the most common way companies go public on the TSX.V. It has an incredible track record as an ingredient in the success of many companies that have grown to be leaders in the Canadian markets.

Q: How much money is ecologyst looking to raise?

A: ecologyst will continue to raise capital through FrontFundr and other parties, with a maximum raise of $3,000,000. You can invest through FrontFundr at $0.20/share. The Initial Private Placement is expected to be completed in September 2022. This round will be followed by a brokered $4,000,000 round before completing the proposed transaction which will only be open to accredited an institutional investors. Our FrontFundr campaign will remain open for everydayinvestors to participate until its scheduled closing.

Q: What does this mean for those who have already invested in ecologyst through FrontFundr?

A: Each outstanding common share in ecologyst will become a common share of the new amalgamated company, expected to be called ‘ecologyst Outfitters Inc’ on a 1:1 basis.

As an existing ecologyst investor, if the transaction is completed, ecologyst will become publicly listed, and you will have the opportunity to buy or sell shares on the public market. A Direct Registration System (DRS) statement will be provided to you upon the completion of the transaction and public listing. Once you are in possession of your DRS statement, you will need to send it to your broker to deposit the shares into your trading account (ex. TD Direct Investing, RBC Direct Investing, Wealthsimple, etc.). Once this process is complete, you, or your broker, will see the shares in your account, as you would with any of your other publicly traded companies. FrontFundr will provide you with further details and instructions if the transaction is completed.

Q: What are the advantages of investing through FrontFundr versus buying shares after its potential public listing?

A: Investing in a private company provides an advantage and early access to capitalize on the potential growth, alongside the organization as it scales. In addition, investing through FrontFundr while ecologyst is still a private company enables investors to receive perks in the form of preferred co-owner pricing for life, and for British Columbia investors to take advantage of theEligible Business Corporation tax credit program, providing a 30% tax credit if investing at least $5,000 CAD.

For any questions regarding this announcement, please reach out to investors@ecologyst.com for support.

Sincerely,

Rene Gauthier