Jacob Vogel, Director and Officer of TekModo Industries, entered into non-binding letter agreement to acquire TekModo, LLC and TekModo Structures LLC and EcoCarbon Technologies USA from TekModo Industries Inc. (TSXV:TEK) for $1 million on January 19, 2018. Under the terms, Jacob Vogel will pay $0.1 million at closing of the transaction and obtain a release from the TekModo’s bank for TekModo’s guarantee on the equipment loan in the approximate amount of $0.9 million. Also, Jacob Vogel has agreed to advance, prior to closing, up to an additional $0.3 million as an interim loan accruing interest at the rate of 12% per annum and would assign all or a portion of the existing loan of $0.925 million and/or the interim loan of $0.3 million to TekModo, LLC and TekModo Structures LLC and EcoCarbon Technologies USA (“Subsidiaries”) and release the TekModo from its obligations under both loans. Jacob Vogel, Director and Officer of TekModo Industries, signed a definitive agreement to acquire TekModo, LLC and TekModo Structures LLC and EcoCarbon Technologies USA from TekModo Industries Inc. (TSXV:TEK) for $0.3 million on April 12, 2018. Under the terms of consideration, Jacob Vogel will pay $0.075 million to TekModo and will also pay the amount of outstanding accounts payable of TekModo and the related costs of this transaction up to $0.2 million. TekModo Industries formed a special committee of Board for the transaction. The special committee engaged Evans & Evans, Inc. to prepare a formal valuation of the subsidiaries. Special Committee recommended approval of the transaction to the Board. The completion of the transaction is subject to a number of conditions including TSX Venture Exchange approval, due diligence, financing by Jacob Vogel and TekModo shareholder approval. As of April 12, 2018, the Board of TekModo approved the transaction with Jacob Vogel and Marc LaCounte declaring their interest in the transaction and abstaining from voting. Evans & Evans, Inc. acted as fairness opinion provider in the transaction.