Eureka Acquisition and Marine Thinking Form Business Combination Agreement

Business Combination Announcement: Marine Thinking and Eureka have announced a definitive agreement for a business combination that will lead to Marine Thinking becoming a publicly traded company named "Marine Thinking Holdings Inc." on NASDAQ, with a pre-money valuation of approximately $130 million.

Focus on Autonomous Technology: Marine Thinking aims to revolutionize the marine industry with its autonomous ship navigation technology, enabling existing shipbuilders to transition to autonomous manufacturing and addressing the shortage of seafarers.

Government Support and R&D Projects: Over the past eight years, Marine Thinking has established itself as a leading provider of autonomous ship solutions in Canada, receiving support for various R&D projects from multiple federal organizations.

Closing Conditions: The completion of the business combination is subject to customary closing conditions, including regulatory and shareholder approvals, as well as the SEC's review of the registration statement and other necessary approvals.