Exhibit 10.1


 


SHARE PURCHASE AGREEMENT


 


This Share Purchase Agreement
(this "Agreement"), dated as of March 31, 2022, is entered into among China Xiangtai Food Co., Ltd., a Cayman
Islands company ("Seller") and Ocean Planet Future Limited (the “Buyer”). 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 of WVM Inc. and China Silanchi Holding Limited (the "Shares"), both
were formed under the laws of the British Virgin Islands and are subsidiaries of the Seller; and


 


WHEREAS, Seller wishes
to sell to Buyers, and Buyers wish to purchase from Seller, the Shares, 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 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 Shares shall be $1 million (the "Purchase Price"), payable
in cash upon Closing (as defined in Section 2.01).


 


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 after the date all of the conditions described in Section 2.02 are met (the "Closing Date").


 


Section 2.02          Conditions
to Closing. A majority of holders of the ordinary shares of the Seller shall approve the transaction contemplated herein.


 


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


 


(a)            Share
certificates evidencing the 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; and


 






     


     


    

 


(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 2.04          Buyer
Closing Deliverables. At the Closing, each Buyer shall deliver to Seller the Purchase Price.


 


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 company duly organized, validly existing, and in good standing under the laws (as defined in
Section 3.03) of the Cayman Islands. 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          Organizations,
Authority, and Qualification of WVM Inc. and China Silanchi Holding Limited. Each of WVM Inc. and China Silanchi Holding Limited
is duly organized, validly existing, and in good standing under the Laws of British Virgin Islands 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. Each of WVM Inc. and China Silanchi Holding Limited 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.


 


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, WVM Inc. or China
Silanchi Holding Limited; (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, WVM Inc. or China Silanchi Holding Limited; (c) require the consent, notice, or filing with or other action by any Person
(defined below) 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, WVM Inc. or China Silanchi Holding Limited is a party or by which Seller, WVM Inc. or
China Silanchi Holding Limited 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 WVM Inc. or China Silanchi Holding Limited. “Person”
means an individual, corporation, partnership, joint venture, limited liability company, Governmental Authority, unincorporated organization,
trust, association or other entity.


 






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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 Buyer 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 Buyer, 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 Buyer, enforceable against the Buyer 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 Buyer 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.


 


Section 4.03          Non-Contravention.
The execution and delivery by the Buyer 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.


 






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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, and any exhibits, 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.


 


	 	Seller
	 	 
	 	China Xiangtai Food Co., Ltd. 
	 	 
	 	By	/s/ Zeshu Dai 
	 	Zeshu Dai
	 	Chief Executive Officer
	 	 
	 	Buyer
	 	 
	 	Ocean Planet Future Limited
	 	 
	 	By	/s/ Hefeng Jia
	 	Hefeng Jia
	 	Director