Exhibit 10.1


 


SHARE PURCHASE AGREEMENT


 


This Share Purchase Agreement
(this “Agreement”), dated as of March 30, 2021, is entered into among Code Chain New Continent Limited, a Nevada corporation
(“Seller”), Lei Zhu (“Buyer”) and Qihai Wang (“Payees”). Capitalized terms used in
this Agreement have the meanings given to such terms herein.


 


RECITALS


 


WHEREAS, Seller owns
all of the issued and outstanding ordinary shares, (the “Tongrong Shares”), in Tongrong Technology (Jiangsu) Co., Ltd.,
a PRC company and an indirect subsidiary of Seller (the “Company”); and


 


WHEREAS, Seller wishes
to sell to Buyer, and Buyer wishes to purchase from Seller, the Tongrong Shares, subject to the terms and conditions set forth herein;


 


WHEREAS, Payees have
agrees to be responsible for the payment of the purchase price of the Tongrong Shares on behalf of Buyer, subject to the terms and conditions
set forth herein


 


NOW, THEREFORE, in
consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:


 


ARTICLE I

Purchase and sale


 


Section
1.01
Purchase and Sale. Subject to the terms and conditions set forth herein, at the Closing
(as defined in Section 2.01), Seller shall sell to Buyer, and Buyer shall purchase from Seller, the Tongrong Shares, free and clear of
any mortgage, pledge, lien, charge, security interest, claim, community property interest, option, equitable interest, restriction of
any kind (including any restriction on use, voting, transfer, receipt of income, or exercise of any other ownership attribute), or other
encumbrance (each, an “Encumbrance”).



 


Section 1.02
Purchase Price. The aggregate purchase price for
the Tongrong Shares shall be $2,464,411 (the “Purchase Price”), payable in consideration of cancellation of 426,369 shares
of the Seller owned by Payee (the “CCNC Shares”). The CCNC Shares shall be valued at $5.78 per share, based on the
average closing price of the Seller’s common stock during the 30 trading days immediately prior to the date of this Agreement from
February 12, 2021 to March 26, 2021. Seller and Payee shall cause the CCNC Shares to be cancelled at Closing.


 


ARTICLE II

CLOSING


 


Section 2.01
Closing. The closing of the transactions contemplated
by this Agreement (the “Closing”) shall take place on a date mutually agreed by the parties within 30 days after the
date of this Agreement (the “Closing Date”). 


 


Section 2.02
Seller Closing Deliverables. At the Closing, Seller
shall deliver to Buyer
the following:





 


(a)
Share certificates evidencing the Tongrong Shares, free and clear of all Encumbrances, duly endorsed
in blank or accompanied by stock powers or other instruments of transfer duly executed in blank, with all required share transfer tax
stamps affixed thereto.


 






     


     


    




 


(b)
Copies of all resolutions of the board of directors and the shareholders of Seller authorizing the
execution, delivery, and performance of this Agreement, and the other agreements, instruments, and documents required to be delivered
in connection with this Agreement or at the Closing (collectively, the “Transaction Documents”) to which Seller is a
party and the consummation of the transactions contemplated hereby and thereby.


 


Section 2.03
Buyer Closing Deliverables. At the Closing, Buyer
shall deliver to Seller the following:


 


(a)
Irrevocable stock powers signed by Payee addressed to the Seller’s transfer agent with respect
to the cancellation of the CCNC Shares.


 


(b)
Confirmation from Seller’s transfer agent with respect to the cancellation of the CCNC
Shares.


 


ARTICLE III

Representations and warranties of seller


 


Seller represents and warrants
to Buyer that the statements contained in this Article III are true and correct as of the date hereof. For purposes of this Article III,
“Seller’s knowledge,” “knowledge of Seller,” and any similar phrases shall mean the actual or constructive knowledge
of any director or officer of Seller, after due inquiry.


 


Section
3.01
Organization and Authority of Seller. Seller is a corporation duly organized, validly
existing, and in good standing under the Laws (as defined in Section 3.05) of the state of Nevada. Seller has full corporate power and
authority to enter into this Agreement and the other Transaction Documents to which Seller is a party, to carry out its obligations hereunder
and thereunder, and to consummate the transactions contemplated hereby and thereby. The execution and delivery by Seller of this Agreement
and any other Transaction Document to which Seller is a party, the performance by Seller of its obligations hereunder and thereunder,
and the consummation by Seller of the transactions contemplated hereby and thereby have been duly authorized by all requisite corporate
action on the part of Seller. This Agreement and each Transaction Document to which Seller is a party constitute legal, valid, and binding
obligations of Seller enforceable against Seller in accordance with their respective terms.


 


Section
3.02 Organization, Authority, and Qualification of the Company. The
Company is a corporation duly organized, validly existing, and in good standing under the Laws of the state of Nevada and has full corporate
power and authority to own, operate, or lease the properties and assets now owned, operated, or leased by it and to carry on its business
as it has been and is currently conducted. Section 3.02 of the Disclosure Schedules sets forth each jurisdiction in which the Company
is licensed or qualified to do business, and the Company is duly licensed or
qualified to do business and is in good standing in each jurisdiction in which the properties owned or leased by it or the operation
of its business as currently conducted makes such licensing or qualification necessary.


 






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Section
3.03 No Conflicts or Consents. The execution, delivery,
and performance by Seller of this Agreement and the other Transaction Documents to which it is a party, and the consummation of the transactions
contemplated hereby and thereby, do not and will not: (a) violate or conflict with any provision of the certificate of incorporation,
by-laws, or other governing documents of Seller or the Company; (b) violate or conflict with any provision of any statute, law, ordinance,
regulation, rule, code, treaty, or other requirement of any Governmental Authority (collectively, “Law”) or any order,
writ, judgment, injunction, decree, determination, penalty, or award entered by or with any Governmental Authority (“Governmental
Order”) applicable to Seller or the Company; (c) require the consent, notice, or filing with or other action by any Person or
require any Permit, license, or Governmental Order; (d) violate or conflict with, result in the acceleration of, or create in any party
the right to accelerate, terminate, or modify any contract, lease, deed, mortgage, license, instrument, note, indenture, joint venture,
or any other agreement, commitment, or legally binding arrangement, whether written or oral (collectively, “Contracts”),
to which Seller or the Company is a party or by which Seller or the Company is bound or to which any of their respective properties and
assets are subject; or (e) result in the creation or imposition of any Encumbrance on any properties or assets of the Company. 


 


ARTICLE
IV

Representations and warranties of buyer


 


Buyer
represents and warrants to Seller that the statements contained in this Article IV are true and correct as of the date hereof. For purposes
of this Article IV, “Buyer’s knowledge,” “knowledge of Buyer,” and any similar phrases shall mean the actual or constructive
knowledge of any director or officer of Buyer, after due inquiry.


 


Section
4.01 Authorization; Binding Agreement. The Purchaser has all requisite corporate power and authority to execute and deliver
this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery
of this Agreement and the consummation of the transactions contemplated hereby (a) have been duly and validly authorized and (b)
no other corporate proceedings, other than as set forth elsewhere in the Agreement, are necessary to authorize the execution and delivery
of this Agreement or to consummate the transactions contemplated hereby. This Agreement has been, and shall be when delivered, duly and
validly executed and delivered by the Purchaser, assuming the due authorization, execution and delivery of this Agreement by the other
parties hereto, and constitutes, or when delivered shall constitute, the valid and binding obligation of the Purchaser, enforceable against
the Purchaser in accordance with its terms, except to the extent that enforceability thereof may be limited by applicable bankruptcy,
insolvency, reorganization and moratorium laws and other laws of general application affecting the enforcement of creditors’ rights
generally or by any applicable statute of limitation or by any valid defense of set-off or counterclaim, and the fact that equitable
remedies or relief (including the remedy of specific performance) are subject to the discretion of the court from which such relief may
be sought (collectively, the “Enforceability Exceptions”)


 


Section
4.02 Governmental Approvals. No Consent of or with any Governmental Authority, on the part of the Purchaser is required to
be obtained or made in connection with the execution, delivery or performance of this Agreement or the consummation of the transactions
contemplated hereby, other than (a) such filings as may be required in any jurisdiction in which such Party is qualified or authorized
to do business as a foreign corporation in order to maintain such qualification or authorization, (b) such filings as contemplated by
this Agreement, (c) any filings required with NASDAQ with respect to the transactions contemplated by this Agreement, or (d) applicable
requirements, if any, of the Securities Act of 1933, as amended (the “Securities Act”), the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), and/ or any state “blue sky” securities laws, and
the rules and regulations thereunder.


 






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Section
4.03 Non-Contravention. The execution and delivery by the Purchaser of this Agreement and the consummation of the transactions
contemplated hereby, and compliance with any of the provisions hereof, will not (a) conflict with or violate any provision of the Organizational
Documents of such Party (if any), (b) conflict with or violate any Law, Order or Consent applicable to such Party or any of its
properties or assets, or (c) (i) violate, conflict with or result in a breach of, (ii) constitute a default (or an event which, with
notice or lapse of time or both, would constitute a default) under, (iii) result in the termination, withdrawal, suspension, cancellation
or modification of, (iv) accelerate the performance required by such Party under, (v) result in a right of termination or acceleration
under, (vi) give rise to any obligation to make payments or provide compensation under, (vii) result in the creation of any Lien upon
any of the properties or assets of such Party under, (viii) give rise to any obligation to obtain any third party consent or provide
any notice to any Person or (ix) give any Person the right to declare a default, exercise any remedy, claim a rebate, chargeback, penalty
or change in delivery schedule, accelerate the maturity or performance, cancel, terminate or modify any right, benefit, obligation or
other term under, any of the terms, conditions or provisions of, any material contract of such Party.


 


ARTICLE
V

Miscellaneous


 


Section
5.01 Interpretation; Headings. This Agreement shall
be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument
or causing any instrument to be drafted. The headings in this Agreement are for reference only and shall not affect the interpretation
of this Agreement.


 


Section
5.02 Severability. If any term or provision of this
Agreement is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality, or unenforceability shall not affect
any other term or provision of this Agreement.


 


Section
5.03 Entire Agreement. This Agreement and the other
Transaction Documents constitute the sole and entire agreement of the parties to this Agreement with respect to the subject matter contained
herein and therein, and supersede all prior and contemporaneous understandings and agreements, both written and oral, with respect to
such subject matter. In the event of any inconsistency between the statements in the body of this Agreement and those in the other Transaction
Documents, any exhibits, and the Disclosure Schedules (other than an exception expressly set forth as such in the Disclosure Schedules),
the statements in the body of this Agreement will control.


 


Section
5.04 Successors and Assigns. This Agreement shall
be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns. Neither party
may assign its rights or obligations hereunder without the prior written consent of the other party, which consent shall not be unreasonably
withheld or delayed. No assignment shall relieve the assigning party of any of its obligations hereunder.


 


Section
5.05 Amendment and Modification; Waiver. This Agreement may only be amended,
modified, or supplemented by an agreement in writing signed by each party hereto. No waiver by any party of any of the provisions
hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving. No failure to exercise, or delay
in exercising, any right or remedy arising from this Agreement shall operate or be construed as a waiver thereof. No single or partial
exercise of any right or remedy hereunder shall preclude any other or further exercise thereof or the exercise of any other right or
remedy.


 


Section
5.06 Governing Law; Submission to Jurisdiction. This
Agreement shall be governed by and construed in accordance with the internal laws of the State of New York, without giving effect to
any choice or conflict of law provision or rule (whether of the State of New York or any other jurisdiction). Any legal suit, action,
proceeding, or dispute arising out of or related to this Agreement, the other Transaction Documents, or the transactions contemplated
hereby or thereby may be instituted in the federal courts of the United States of America or the courts of the State of New York in each
case located in the city of New York and county of New York, and each party irrevocably submits to the exclusive jurisdiction of such
courts in any such suit, action, proceeding, or dispute.


 


Section
5.07 Counterparts. This Agreement may be executed
in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement.
A signed copy of this Agreement delivered by email or other means of electronic transmission shall be deemed to have the same legal effect
as delivery of an original signed copy of this Agreement.


 


[signature
page follows]


 




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IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first written above by their respective
officers thereunto duly authorized.


 


	 	Code Chain New Continent Limited
	 	 
	 	By	/s/ Yimin Jin
	 	Name:  	Yimin Jin
	 	Title: 	Co-CEO and Co-Chairman of the Board






 


	 	Buyer
	 	 
	 	/s/ Lei Zhu
	 	Name: Lei Zhu
	 	 
	 	Payee
	 	 
	 	/s/ Qihai Wang
	 	Name: Qihai Wang



 


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