Company: AVCRF
Filing Date: 2025-06-16
Form Type: 20-F
Source: 0001641172-25-015266
Chunk: 37

Company: Avricore Health Inc.
Filing Date: 2025-06-16
Form: 20-F
Item: Item 10
Chunk 37
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,
the consideration paid by the Company included staged cash payment of $200,000 (paid in the fiscal year 2018), issuance of 2,666, 667
common shares (issued in the fiscal year 2018). In addition, in the years ended December 31, 2019 and 2020, common shares with an aggregate
value of $200,000 were issued at the deemed price determined based on the market price of the shares at the time of issuance.

(b)
The Company issued 3,480,000 common shares valued at $52,200 as bonus shares pursuant to a loan agreement.

(c)
The Company issued 5,477,965 common shares in exchange for services received and to settle accounts payables of $136,949. An aggregate
of 1,900,000 shares were issued in settlement of $47,500 in amounts owing to certain directors and officers of the Company.

  36  

(d)
The Company issued 275,000 common shares valued at $38,500 to a consultant in exchange for services received.

Except
as disclosed above, no other shares were issued with a consideration other than cash during the years ended December 2022, 2023 and 2024.
There were no changes in classes of shares or voting rights.

10. A.7.
Resolutions/Authorizations/Approvals

- No
Disclosure Necessary -

10. B.
Memorandum and Articles of Association

The
Company’s corporate constituting documents comprising the Notice of Articles and Articles are registered with the British Columbia
Registrar of Companies under Incorporation No. BC0607937. A copy of the Articles was filed as an Exhibit 1 with the Company’s initial
registration statement on Form 20-F.

The
following is a summary of certain provisions of the Company’s Notice of Articles and Articles and certain provisions of the British
Columbia Business Corporations Act (the “ BCA”), applicable to the Company:

Objects
and Purposes

The
Articles do not specify objects or purposes. Under both the BCA, a British Columbia corporation generally has all the legal powers of
a natural person. British Columbia corporations may not undertake certain limited business activities such as operating as a trust company
or railroad without alterations to its form of articles and specific government consent.

Share
Capital

The
authorized capital of the Company consists of an unlimited number of common shares without par value. All of the common shares must be
fully paid and are not subject to any future