Iocaste Ventures Inc., a capital pool company, and TenX Protocols Inc. (formerly, Layer X Inc.) have entered into a business combination agreement dated August 18, 2025 which outlines the terms and conditions pursuant to which Iocaste and TenX Protocols will complete a transaction that will result in a reverse takeover of Iocaste by the shareholders of TenX Protocols by way of a three-cornered amalgamation between Iocaste, TenX Protocol, and a wholly-owned subsidiary of Iocaste.

TenX Protocols engaged Canaccord Genuity Inc., to act as lead agent, together with Sightline Wealth Management LP, Ventum Financial Corp., INFOR Financial Inc. and Richardson Wealth Limited (collectively, the "Agents") to complete a private placement offering of subscription receipts of TenX Protocols.

Borden Ladner Gervais LLP acts as legal counsel to Iocaste. TenX Protocols is represented by Mintz LLP. The Agents are represented by Fasken Martineau DuMoulin LLP.