CBIO Brand Development Inc. entered into a letter of intent to acquire Brunswick Resources Inc. (TSXV:BRU) in a reverse merger transaction on February 28, 2019. Under the terms of the transaction, Brunswick Resources will issue 16.9 million of its shares at an exchange ratio of one common share of Brunswick Resources Inc. for each share of CBIO Brand Development Inc. and will have its shares consolidated on a five for one basis prior to the closing of the transaction. Upon the closing of the transaction, it is proposed that Brunswick will be listed on the Canadian Securities Exchange, will concurrently de-list from the TSX Venture Exchange and will be renamed accordingly. Majority of the Minority shareholder approval will be required for the voluntary delisting prior to the completion of the transaction. The resulting issuer will carry on the business of CBIO Brand Development Inc. In connection with the transaction CBIO will undertake a private placement of minimum gross proceeds of CAD 0.75 million and maximum gross proceeds to CAD 1 million. Upon completion of the transaction, subject to regulatory approval, management of Brunswick is expected to be: Lisa Anne Little, President; Shane R.C. Lowry, Director; Hyder A Khoja, Chief Scientific Officer; Glenn Little, Director; Michael Young, Chief Financial Officer. As of June 25, 2019, Brunswick announce that at the Annual and Special Meeting of Shareholders held on June 25, 2019, the following directors were elected: Laurent Hallé, Christian Dupont, Geoffrey Carter and Mario Colantonio. The transaction is subject to regulatory and other required approvals, and the satisfaction of other conditions contained in a definitive agreement between Brunswick and CBIO, listing on the CSE and/or TSXV regulatory approval and the completion of the private placement. Brunswick does not intend to seek shareholder approval for the transaction. As of June 25, 2019, the shareholders of the Brunswick approved the name change of the Corporation to CBIO Brand Development Inc. CBIO Brand Development Inc. cancelled the acquisition of Brunswick Resources Inc. (TSXV:BRU) in a reverse merger transaction on November 12, 2019. CBIO Brand Development and Brunswick Resources were unable to negotiate the terms of a definitive agreement satisfactory to both parties and consequently have mutually decided to terminate the LOI and abandon the transaction.