Exalt Capital Corp. announced that it has entered into a letter of intent dated December 6, 2017 with Sachiel Connect Inc. The LOI contemplates that Exalt will complete a business combination with Sachiel Connect whereby Exalt will acquire all of the issued and outstanding securities of Sachiel Connect from its 23 shareholders. On closing of the Transaction, the resulting issuer (the ‘Resulting Issuer’) will be listed as a Tier 2 “Industrial” issuer on the TSXV. Upon Closing, the board of directors will be increased to five (5) members, which, subject to the acceptance of TSXV, shall include Bei Nie, Wei Kang, Iris Duan, Jack Austin and S. Randall Smallbone. S. Randall Smallbone: Proposed Chief Executive Officer, President and Director. He is a director of the Burlington Economic Development Corporation and a director of National Youth Orchestra of Canada and a Board member of the Joseph Brant Hospital Foundation. Ian Mallmann: Proposed Chief Financial Officer and Corporate Secretary. Mr. Mallmann is a director of Exalt. He has been a principal of Chagford Square Capital Inc. since October 2003. Bei Nie: Proposed Director. Bei Nie is the founder and Chief Executive Officer of Sachiel Connect and its subsidiary, Sachiel Water. Prior to creating Sachiel, she was the Chief Executive Officer of F-Pacific Optical Communication Ltd. based in Richmond, BC. Wei Kang: Proposed Director. Wei Kang is a director of Exalt and its President and Chief Executive Officer. Iris Duan: Proposed Director. (Iris) Hong Duan is a director of Exalt. She is also currently a Partner with MNP LLP. Jack Austin: Proposed Director.
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