Jo-Jo Capital Enters into Agreement with Primeblock and Updates Leadership

Jo-Jo Capital Canada Ltd. has signed a non-binding letter of intent with Primeblock Inc. for a proposed business combination. This transaction aims to qualify Jo-Jo's venture as capital pool company. The agreement allows for various potential transaction structures and requires regulatory approval. Upon completion, Primeblock is expected to be the primary business, granting its shareholders a majority control of the resulting entity.

Several conditions need to be met, including due diligence, shareholder approvals, and necessary financing. Additionally, trading in Jo-Jo's shares remains halted until the proposed deal is finalized.

Jo-Jo has made notable management updates. Matthew Lewis joins the Board of Directors, bringing extensive experience in capital markets. Also, Carmelo Marrelli steps in as CFO and Acting CEO, replacing Peter Schloo.