Business News • MarketWire • Leo Acquisitions Corp. Enters Into Letter of Intent With Axcelon Biopolymers Inc. in Respect of a Proposed Qualifying Transaction

Leo Acquisitions Corp. Enters Into Letter of Intent With Axcelon Biopolymers Inc. in Respect of a Proposed Qualifying Transaction

Leo Acquisitions Corp. Enters Into Letter of Intent With Axcelon Biopolymers Inc. in Respect of a Proposed Qualifying Transaction

TORONTO, ONTARIO--(Marketwired - July 4, 2014) - Leo Acquisitions Corp. (TSX VENTURE:LEQ.H) ("Leo") is pleased to announce that it has signed a letter of intent (the "LOI") with Axcelon Biopolymers Inc., a corporation existing under the laws of Ontario ("Axcelon"), which outlines the general terms and conditions pursuant to which Leo and Axcelon would be willing to complete a transaction that will result in a reverse take-over of Leo by the shareholders of Axcelon (the "Transaction"). The LOI was negotiated at arm's length and is effective as of May 30, 2014.

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