Albatros Acquisition signs LOI to acquire Latitude 6

• On May 1, 2026, Albatros Acquisition Corp. Inc. announced a binding Letter of Intent (LOI) to acquire Latitude 6 Capital Inc. via a reverse takeover (RTO).
• The transaction involves a share exchange where Latitude 6 shareholders receive one Albatros common share for each Latitude 6 share at a deemed price of $0.20 per share.
• Albatros plans to consolidate its existing shares on a basis of one new share for every 1.35 existing shares prior to or as part of the transaction.
• The deal includes two concurrent private placement financings totaling up to approximately $3.4 million in gross proceeds.
• Financing terms include a non-brokered private placement at $0.20 per unit (one share + one-half warrant exercisable at $0.30) and subscription receipts at a minimum price of $0.20.
• Albatros shares are currently halted by the TSX-V pending review of transaction materials.
• Target completion date is August 31, 2026, with definitive agreement execution targeted by June 17, 2026.

• The news represents a fundamental change in the company's structure and business direction, moving from an acquisition shell to operating Latitude 6 Capital Inc.'s business.
• However, the terms signal significant distress for existing shareholders given the historical price trajectory ($3.85 down to $0.42).
• The financing price of $0.20 per unit is substantially below the current trading price of $0.42 (pre-consolidation), implying heavy dilution or a valuation reset that contradicts recent market pricing.
• Post-consolidation, if Albatros trades at $0.42 pre-split, the new share value would theoretically be ~$0.57 ($0.42 * 1.35). Financing at $0.20 represents a significant discount to this implied value, further diluting existing holders who do not participate.
• The TSX-V halt introduces regulatory uncertainty; if the exchange rejects terms or valuation, the deal could fail, leaving the company in its current distressed state.
• For a risk-averse investor, this confirms a failure of the previous business model to sustain value and introduces new equity dilution at deep discounts.

• Albatros Acquisition Corp. Inc. operates as an acquisition vehicle (SPAC) currently seeking to merge with an operating company.
• The proposed flagship business post-combination is Latitude 6 Capital Inc., though specific industry details, assets, or revenue streams for Latitude 6 are not disclosed in the provided news text.
• The transaction structure indicates Albatros will become a wholly owned subsidiary of the combined entity, continuing Latitude 6's business.
• Management control will shift to Latitude 6 officers and directors upon completion.