Vancouver, British Columbia – TheNewswire - August 30, 2021 A-Labs Capital II Corp.'s (the “Company”) (TSXV:ALAB.P) previously announced non-binding letter of intent (the “LOI”) with Dona Blanca Limited (“DBL”), which was entered into on March 23, 2021, has terminated in accordance with its terms and has not been extended.  Pursuant to the LOI, the Company and DBL were to complete a business combination intended to constitute the Qualifying Transaction of the Company under the policies of the Exchange.

Following the entry into the LOI, the parties were conducting due diligence and negotiating a definitive agreement.  A definitive agreement has not been entered into and further negotiations are not progressing at this time.  As such, the Company is currently considering its options and will continue to pursue and evaluate other businesses and assets with a view of completing a Qualifying Transaction.  

For further information on the Company, please contact:

Doron Cohen, CEO and Director of the Company

Email: doron@alabs.co

Telephone number: 972-545-224-017

NEITHER THE TSX VENTURE EXCHANGE INC. NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.