FSI merges with Lygos in all-stock deal; Lygos holders to own 66.7% of combined company

FLEXIBLE SOLUTIONS INTERNATIONAL INC

All-stock merger: Lygos stockholders receive FSI shares; expected to own ~66.7% of combined company.
Lygos secured $160M in 5.5% convertible notes to fund integration and working capital.
Daniel O'Brien to stay as Head-Flexible Solutions Division; will sell 1M shares at $7.50 to FSI.
New employment agreement for O'Brien: $500K salary, option for 500K shares, plus 1M share grants.
Merger subject to shareholder approvals, regulatory conditions; expected close by Sept 30, 2022.

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