# EDGAR Filing Document

**Accession Number:** 0002092967
**File Stem:** 0001213900-26-023192
**Filing Date:** 2026-3
**Character Count:** 1288298
**Document Hash:** 554e74f1fd8b3ba3cfb2544e69da9ee0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-023192.hdr.sgml**: 20260303

**ACCESSION NUMBER**: 0001213900-26-023192

**CONFORMED SUBMISSION TYPE**: 20FR12B

**PUBLIC DOCUMENT COUNT**: 22

**FILED AS OF DATE**: 20260303

**DATE AS OF CHANGE**: 20260303

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Fort Technology Inc
- **CENTRAL INDEX KEY:** 0002092967
- **STANDARD INDUSTRIAL CLASSIFICATION:** AGRICULTURE CHEMICALS [2870]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 20FR12B
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-43178
- **FILM NUMBER:** 26716530

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 3292 PRODUCTION WAY
- **STREET 2:** SUITE 501
- **CITY:** BURNABY
- **NON US STATE TERRITORY:** BRITISH COLUMBA
- **PROVINCE COUNTRY:** A1
- **ZIP:** V5A 4R4
- **BUSINESS PHONE:** (604) 833-6820

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 3292 PRODUCTION WAY
- **STREET 2:** SUITE 501
- **CITY:** BURNABY
- **NON US STATE TERRITORY:** BRITISH COLUMBA
- **PROVINCE COUNTRY:** A1
- **ZIP:** V5A 4R4

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM 20-F**

☒ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

**OR**

☐ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2024

**OR**

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

**OR**

☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File No.:

**Fort Technology Inc.** 

*(Exact name of registrant as specified in its charter)*

*Translation of registrant's name into English:* Not applicable

---

| | |
|:---|:---|
| **British Columbia** | **3292 Production Way, Suite 501<br> Burnaby, British Columbia V5A 4R4** |
| *(Jurisdiction of incorporation or organization)* | *(Address of principal executive offices)* |

---

**Gabriel Kabazo**

**Chief Executive Officer** 

**3292 Production Way**

**Suite 501**

**Burnaby, British Columbia V5A 4R4**

**Tel: (604) 833-6820**

*(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)*

Securities registered or to be registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class to be registered** | **Trading Symbol(s)** | **Name of each exchange on which<br> each class is to be registered** |
| Common shares, no par value per share | FRTT | The Nasdaq Stock Market LLC |

---

Securities registered or to be registered pursuant to Section 12(g) of the Act: None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None

 

Number of outstanding shares of each of the issuer's classes of capital or common stock as of March 3, 2026: 11,362,318 common shares.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act of 1934. Yes ☐ No ☐

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☐ No ☒

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months. Yes ☐ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company.

Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ <br> Emerging Growth Company ☒

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

† The term "new or revised financial accounting standard"
refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing.

U.S. GAAP ☐ International Financial Reporting<br> Standards as issued by the<br> International Accounting Standards<br> Board ☒ Other ☐

If "Other" has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow. ☐ Item 17 ☐ Item 18

If this is an annual report, indicate by check mark whether the registrant is a shell company. Yes ☐ No ☒

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
| | | **Page** |
| [INTRODUCTION](#a_001) | [INTRODUCTION](#a_001) | iii |
| [CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS](#a_002) | [CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS](#a_002) | v |
|  | [PART I](#a_100) |  |
| ITEM 1. | [IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS.](#a_003) | 1 |
| ITEM 2. | [OFFER STATISTICS AND EXPECTED TIMETABLE.](#a_004) | 1 |
| ITEM 3. | [KEY INFORMATION](#a_005). | 1 |
| A. | [\[Reserved\]](#a_006) | 1 |
| B. | [Capitalization and Indebtedness.](#a_007) | 1 |
| C. | [Reasons for the Offer and Use of Proceeds.](#a_008) | 2 |
| D. | [Risk Factors.](#a_009) | 2 |
| ITEM 4. | [INFORMATION ON THE COMPANY.](#a_010) | 42 |
| A. | [History and Development of the Company.](#a_011) | 42 |
| B. | [Business Overview.](#a_012) | 43 |
| C. | [Organizational Structure.](#a_013) | 56 |
| D. | [Property, Plants and Equipment.](#a_014) | 57 |
| ITEM 4A. | [UNRESOLVED STAFF COMMENTS.](#a_015) | 57 |
| ITEM 5. | [OPERATING AND FINANCIAL REVIEW AND PROSPECTS.](#a_016) | 57 |
| A. | [Operating Results.](#a_017) | 57 |
| B. | [Liquidity and Capital Resources.](#a_018) | 66 |
| C. | [Research and development, patents and licenses, etc.](#a_019) | 68 |
| D. | [Trend information.](#a_020) | 68 |
| E. | [Critical Accounting Estimates.](#a_021) | 68 |
| ITEM 6. | [DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES.](#a_023) | 69 |
| A. | [Directors and Senior Management.](#a_024) | 69 |
| B. | [Compensation.](#a_025) | 71 |
| C. | [Board Practices.](#a_079) | 76 |
| D. | [Employees.](#a_026) | 82 |
| E. | [Share Ownership.](#a_027) | 82 |
| F. | [Disclosure of a Registrant's Action to Recover Erroneously Awarded Compensation.](#a_028) | 83 |
| ITEM 7. | [MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS.](#a_029) | 84 |
| A. | [Major Shareholders.](#a_030) | 84 |
| B. | [Related Party Transactions.](#a_031) | 85 |
| C. | [Interests of Experts and Counsel.](#a_032) | 87 |
| ITEM 8. | [FINANCIAL INFORMATION.](#a_033) | 87 |
| A. | [Consolidated Statements and Other Financial Information.](#a_034) | 87 |
| B. | [Significant Changes.](#a_035) | 88 |
| ITEM 9. | [THE OFFER AND LISTING.](#a_036) | 88 |
| A. | [Offer and Listing Details.](#a_037) | 88 |
| B. | [Plan of Distribution.](#a_038) | 88 |
| C. | [Markets.](#a_039) | 88 |
| D. | [Selling Shareholders.](#a_040) | 88 |
| E. | [Dilution.](#a_041) | 88 |
| F. | [Expenses of the Issue.](#a_042) | 88 |

---

i

---

| | | |
|:---|:---|:---|
| ITEM 10. | [ADDITIONAL INFORMATION.](#a_043) | 88 |
| A. | [Share Capital.](#a_044) | 88 |
| B. | [Memorandum and Articles of Association.](#a_045) | 90 |
| C. | [Material Contracts.](#a_046) | 100 |
| D. | [Exchange Controls.](#a_047) | 100 |
| E. | [Taxation.](#a_048) | 101 |
| F. | [Dividends and Paying Agents.](#a_049) | 108 |
| G. | [Statement by Experts.](#a_050) | 108 |
| H. | [Documents on Display.](#a_051) | 108 |
| I. | [Subsidiary Information.](#a_052) | 108 |
| J. | [Annual Report to Security Holders.](#a_053) | 108 |
| ITEM 11. | [QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.](#a_054) | 109 |
| ITEM 12. | [DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES.](#a_055) | 110 |
| A. | [Debt Securities.](#a_056) | 110 |
| B. | [Warrants and rights.](#a_057) | 110 |
| C. | [Other Securities.](#a_058) | 110 |
| D. | [American Depository shares.](#a_059) | 110 |
|  | [PART II](#a_101) |  |
| ITEM 13. | [DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES.](#a_060) | 111 |
| ITEM 14. | [MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS.](#a_061) | 111 |
| ITEM 15. | [CONTROLS AND PROCEDURES.](#a_062) | 111 |
| ITEM 16. | [\[RESERVED\]](#a_063) | 111 |
| ITEM 16A. | [AUDIT COMMITTEE FINANCIAL EXPERT.](#a_064) | 111 |
| ITEM 16B. | [CODE OF ETHICS.](#a_065) | 111 |
| ITEM 16C. | [PRINCIPAL ACCOUNTANT FEES AND SERVICES.](#a_066) | 111 |
| ITEM 16D. | [EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES.](#a_067) | 111 |
| ITEM 16E. | [PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS.](#a_068) | 111 |
| ITEM 16F. | [CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT.](#a_069) | 111 |
| ITEM 16G. | [CORPORATE GOVERNANCE.](#a_070) | 112 |
| ITEM 16H. | [MINE SAFETY DISCLOSURE.](#a_071) | 113 |
| ITEM 16I | [DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS.](#a_072) | 113 |
| ITEM 16J. | [INSIDER TRADING POLICIES](#a_073) | 113 |
| ITEM 16K. | [CYBERSECURITY](#a_074) | 113 |
|  | [PART III](#a_102) |  |
| ITEM 17. | [FINANCIAL STATEMENTS.](#a_075) | 114 |
| ITEM 18. | [FINANCIAL STATEMENTS.](#a_076) | 114 |
| ITEM 19. | [EXHIBITS.](#a_077) | 114 |
| [SIGNATURES](#a_078) | [SIGNATURES](#a_078) | 115 |

---

ii

**Fort Technology Inc.**

**INTRODUCTION**

In this registration statement on Form 20-F, "we," "us," "our," the "Company and " "Fort" refer to Fort Technology Inc.

We are an e-commerce consumer products goods, or CPG, company focused on the assembly and sale of pest control products via the Amazon Marketplace, or Amazon, utilizing the Fulfillment by Amazon, or FBA, and Fulfillment by Merchant, or FBM, models. As at the date of this registration statement, we sell our products in the U.K., Germany, France, Italy, and other European countries and we plan to sell our products in the U.S. in the future. On February 6, 2025, we, being Fort Technology Inc. (then known as Impact Acquisitions Corp., or Impact, a capital pool company listed on the TSX Venture Exchange), entered into a share purchase agreement, or the Share Purchase Agreement, with Jeffs' Brands Ltd., or Jeffs' Brands, a company incorporated under the laws of the State of Israel, and Fort Products Limited, or Fort UK, a wholly-owned U.K.-based subsidiary of Jeffs' Brands, pursuant to which, on the terms and subject to the conditions of the Share Purchase Agreement, Jeffs' Brands sold all of the issued and outstanding shares Fort Products Limited to us, or the Acquisition. The Acquisition closed on July 7, 2025. In connection with the consummation of Acquisition, we changed our name from "Impact Acquisitions Corp." to "Fort Technology Inc.". Pursuant to the Share Purchase Agreement, among other things, Jeffs' Brands sold to us, all of the issued and outstanding common shares of Fort UK, in consideration for 7,142,857 of our common shares and up to an additional 4,714,287 contingent right shares, each entitling the holding thereof to acquire one of our common shares for no additional consideration upon the achievement of certain pre-determined milestones, representing a post-closing equity interest in us of 75.02% . Upon the effectiveness of the listing of our common shares on the Nasdaq Capital Market ("Nasdaq"). 1,571,429 common shares, representing contingent right shares pursuant to the Share Purchase Agreement will be issued to Jeffs' Brands as the achievement of one of the milestones.

Our reporting currency and functional currency is the United States dollar. Amounts denominated in United States Dollars are states as "$" "dollars" or "USD". Unless otherwise expressly stated or the context otherwise requires, references in this registration statement to "CAD$" are to Canadian dollars, "NIS" are to New Israeli Shekel, and "GBP" and "£" are to Great British Pound.

On October 1, 2025, we effected a one-for-seven (1-for-7) consolidation of our issued and outstanding common shares and on such date, our common shares began trading on a post-consolidation basis on the TSX Venture Exchange ("TSXV"). On February 18, 2026, we effected a one-for-two (1-for-2) consolidation of our issued and outstanding common shares and on such date, our common shares began trading on a post-consolidation basis on the TSXV. Unless the context expressly indicates otherwise, all references to share and per share amounts referred to herein reflect the amounts after giving effect to the aforementioned share consolidations.

Unless otherwise indicated, or the context otherwise requires, references in this registration statement on Form 20-F to financial and operational data for a particular year refer to the fiscal year of our Company ended December 31 of that year.

We report under International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board, or the IASB. Unless derived from our financial statements or otherwise noted, amounts presented in this registration statement are translated at the rate of CAD$1.4384 = US$1.00, the exchange rate between the Canadian dollar and the U.S. dollar and 0.7973 GBP = US$1.00, each as reported by the Bank of Canada as of December 31, 2024.

This registration statement includes statistical, market and industry data and forecasts which we obtained from publicly available information and independent industry publications and reports that we believe to be reliable sources. These publicly available industry publications and reports generally state that they obtain their information from sources that they believe to be reliable, but they do not guarantee the accuracy or completeness of the information. Although we believe that these sources are reliable, we have not independently verified the information contained in such publications.

iii

**EMERGING GROWTH COMPANY STATUS**

We qualify as an "emerging growth company," as defined in the U.S. Jumpstart Our Business Startups Act of 2012, or JOBS Act, and we may take advantage of certain exemptions, including exemptions from various reporting requirements that are otherwise applicable to public traded entities that do not qualify as emerging growth companies. These exemptions include not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, or the Sarbanes-Oxley Act.

Section 107 of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in Section 13(a) of the Securities Exchange Act of 1934, as amended, or the Exchange Act, for complying with new or revised accounting standards. This means that an "emerging growth company" can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. Given that we currently report and expect to continue to report our financial results under IFRS as issued by the IASB, we will not be able to avail ourselves of this extended transition period and, as a result, we will adopt new or revised accounting standards on the relevant dates on which adoption of such standards is required by the IASB.

We will remain an emerging growth company until the earliest of: (i) the last day of the first fiscal year in which our annual gross revenues exceed $1.235 billion; (ii) the last day of the fiscal year following the fifth anniversary of the date of our initial public offering; (iii) the date that we become a "large accelerated filer" as defined in Rule 12b-2 under the Exchange Act, which would occur if the aggregate worldwide market value of our common shares, including common shares represented by warrants, held by non-affiliates is at least $700 million as of the last business day of our most recently completed second fiscal quarter; or (iv) the date on which we have issued more than $1.0 billion in non-convertible debt securities during any three-year period.

As a foreign private issuer and an emerging growth company, we are permitted to provide less detailed disclosure regarding executive compensation. Thus, for so long as we remain a foreign private issuer, even if we no longer qualify as an emerging growth company, we will continue to not be subject to more stringent executive compensation disclosures required of public companies that are neither an emerging growth company nor a foreign private issuer.

**Implications of Being a Controlled Company**

Upon the effectiveness of the listing of our common shares on Nasdaq, Jeffs' Brands will hold approximately 70.94% of our issued and outstanding common shares and will be able to exercise approximately 70.94% of the total voting power of our issued and outstanding common shares as of such date. As a result, we will be a "controlled company" as defined under the Nasdaq Listing Rules and qualify for exemptions from certain Nasdaq corporate governance requirements. Although we do not intend to utilize any exemptions from the Nasdaq corporate governance standards upon the effectiveness of the listing of our common shares on Nasdaq, we may utilize any or all of these exemptions at any time at our discretion until we cease to be a "controlled company."

For so long as we are a "controlled company", we are permitted to elect to rely, and may rely, on certain exemptions from corporate governance rules, including:

● an exemption from the rule that a majority of our board of directors must be independent directors;

● an exemption from the rule that requires a compensation committee comprised entirely of independent directors with a written charter addressing the committee's purpose and responsibilities; and

● an exemption from the rule that our director nominees must be selected or recommended solely by independent directors or by a nominations committee that consists entirely of independent directors with a written charter or board resolution addressing the nominations process.

Although we do not intend to rely on the "controlled company" exemptions under the Nasdaq Listing Rules, we could elect to rely on one or more of these exemptions in the future. If we elect to rely on any such exemptions, you will not have the same protections afforded to shareholders of companies that are subject to these corporate governance requirements. Our status as a "controlled company" could cause our common shares to look less attractive to certain investors or otherwise harm the trading price of the common shares. For more information including a more detailed description of risks related to being a "controlled company," see Item 3.D "Key Information - Risk Factors–General Risk Factors–We will be a "controlled company" as defined under the Nasdaq Listing Rules. Although we do not intend to rely on the "controlled company" exemptions under the Nasdaq Listing Rules, we could elect to rely on one or more of these exemptions in the future and you will not have the same protection afforded to shareholders of companies that are subject to these corporate governance requirements."

**TRADEMARKS**

All trademarks or trade names referred to in this registration statement are the property of their respective owners. Solely for convenience, the trademarks and trade names in this registration statement are referred to without the® and™ symbols, but such references should not be construed as any indicator that their respective owners will not assert, to the fullest extent under applicable law, their rights thereto. We do not intend the use or display of other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies.

iv

**CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS**

Certain information included or incorporated by reference in this registration statement may be deemed to be "forward-looking statements". Forward-looking statements are often characterized by the use of forward-looking terminology such as "may," "will," "expect," "anticipate," "estimate," "continue," "believe," "should," "intend," "project" or other similar words, but are not the only way these statements are identified.

These forward-looking statements may include, but are not limited to, statements relating to our objectives, plans and strategies, statements that contain projections of results of operations or of financial condition, expected capital needs, and expenses, statements relating to the research, development, completion and use of our products, and all statements (other than statements of historical facts) that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future.

Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. We have based these forward-looking statements on assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments, and other factors they believe to be appropriate.

The forward-looking statements made in this registration statement relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this registration statement to reflect events or circumstances after the date of this registration statement or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments.

Important factors that could cause actual results, developments, and business decisions to differ materially from those anticipated in these forward-looking statements are listed below. The below is also a summary of the risk factors described in Item 3.D "Key Information - Risk Factors" of this registration statement.

**MARKET, INDUSTRY AND OTHER DATA**

Market data and certain industry data and forecasts used throughout this registration statement were obtained from sources we believe to be reliable, including market research databases, publicly available information, reports of governmental agencies, and industry publications and surveys. We have relied on certain data from third party sources, including industry forecasts and market research, which we believe to be reliable based on our management's knowledge of the industry. While we are not aware of any misstatements regarding the industry data presented in this registration statement, our estimates involve risks and uncertainties and are subject to change based on various factors, including those discussed under the heading "Risk Factors" and elsewhere in this registration statement.

Statements made in this registration statement concerning the contents of any agreement, contract or other document are summaries of such agreements, contracts or documents and are not a complete description of all of their terms. If we filed any of these agreements, contracts or documents as exhibits to this registration statement or to any previous filing with the Securities and Exchange Commission, or SEC, you may read the document itself for a complete understanding of its terms.

v

**PART I**

**ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS**

**A.** **Directors and Senior Management** 

For the names, business addresses and functions of our directors and senior management, see "Item 6. Directors, Senior Management and Employees – A. Directors and Senior Management" and "Item 6. Directors, Senior Management and Employees – C. Board Practices."

**B.** **Advisers** 

Our principal legal advisers with respect to U.S. federal laws is Greenberg Traurig, P.A., located at 132 Menachem Begin Road, Tel Aviv, Israel. Our principal legal advisers with respect to Canadian corporate laws is MLT Aikins LLP, located at Suite 2600 - 1066 West Hastings Street, Vancouver, BC V6E 3X1 Canada.

**C.** **Auditors** 

Our independent auditor is Brightman Almagor Zohar & Co., a firm in the Deloitte Global Network, Certified Public Accountants, located at Derech Menachem Begin 132, Tel Aviv, 6701101 Israel.

**ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE**

Not applicable.

**ITEM 3. KEY INFORMATION**

**A.** **[Reserved]** 

**B.** **Capitalization and Indebtedness** 

The following table sets forth our capitalization as of September 30, 2025:

● on an actual basis; and

● on a pro forma basis giving effect to (i) the issuance of 1,571,429 common shares, representing contingent right shares, which will be issued upon the effectiveness of the listing of our common shares on Nasdaq as the achievement of one of the milestones pursuant to the Share Purchase Agreement, (ii) the issuance of 1,700,801 common shares in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of CAD$3,367,587 (approximately US $2,462,767) pursuant to a debt settlement agreement that we entered into in December 2025 and (iii) the issuance of 1,949,794 common shares and warrants to purchase 1,949,794 common shares upon the automatic conversion of August 2025 Convertible Debentures (as defined below) immediately following the effectiveness of the listing of our common shares on Nasdaq, as if such events had occurred on September 30, 2025.

You should read this information together with our financial statements and the related notes and with "Item 5. Operating and Financial Review and Prospects" appearing elsewhere in this registration statement.

---

| | | |
|:---|:---|:---|
| | **As of<br> September 30, <br> 2025** | **As of<br> September 30, <br> 2025** |
| <br>***U.S. dollars in thousands*** | ***Actual<br> (unaudited)*** | **Pro Forma<br> *(unaudited)*** |
| Cash | $359 | $359 |
| Related parties payable | 2463 |  |
| Convertible debentures | 3063 |  |
| Shareholders' equity: |  |  |
| Common shares and additional paid in capital | 4421 | 10132 |
| Stock-based compensation reserve | 10 | 10 |
| Convertible debentures reserve | 185 |  |
| Retained earnings | (3222) | (3222) |
| Total shareholders' equity | 1394 | 6920 |

---

**C.** **Reasons for the Offer and Use of Proceeds.** 

Not applicable.

**D.** **Risk Factors.** 

Our business faces significant risks. You should carefully consider the risks described below, together with all of the other information in this registration statement. The risks described below are not the only risks facing us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may also materially and adversely affect our business operations. If any of these risks actually occurs, our business and financial condition could suffer and the price of our securities could decline. This registration statement also contains forward-looking statements that involve risks and uncertainties. Our results could materially differ from those anticipated in these forward-looking statements, as a result of certain factors including the risks described below and elsewhere in this report and our other Securities and Exchange Commission, or SEC, filings. See "Cautionary Note Regarding Forward-Looking Statements" above.

**Summary Risk Factors**

 ****

Our business is subject to numerous risks and uncertainties, including those highlighted in the section titled "Risk Factors" below. These risks include, among others, the following:

 **

***Risks Related to Our Businesses, Strategies, Technology, and Industry***

 **

● Our operating results may fluctuate, which makes our results difficult to predict and could cause our results to fall short of expectations.

 ****

● We will require additional capital to fund our operations. Failure to obtain this necessary capital if needed may force us to delay, limit, or terminate our product development efforts or other operations.

 ****

● We face risks regarding our ability to compete in the pest control industry in the future.

● We may not be able to manage our growth effectively, and such rapid growth may adversely affect our corporate culture.

● We are heavily dependent on the success of its pest control products, for which it does not hold any patents. We cannot give any assurance that any of our current or future pest control products will receive regulatory approval in additional markets, which is necessary before they can be commercialized.

● Our e-commerce operations are reliant on Amazon and FBA/FBM and changes to Amazon, Amazon's services and their terms of use may harm our business.

● Our business depends on our ability to build and maintain strong product listings on e-commerce platforms.

● We currently have no marketing or sales staff and relies in large part on the Amazon Marketplace search mechanism to source new customers.

● If we fail to acquire new customers or retain existing customers, including end customers with respect to sales generated using the FBA or FBM model, or fail to do so in a cost-effective manner, we may not be able to achieve profitability.

● If we fail to offer high-quality customer support, our business and reputation may suffer.

● Potential growth of our businesses is based on international expansion, making us susceptible to risks associated with international sales and operations.

● Our business, including our costs and supply chain, is subject to risks associated with sourcing, importing and warehousing.

● Our eCommerce operation's operating results are subject to seasonal fluctuations.

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***Risks Related to Our Pest Control Business Operations***

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● From time to time, we may sign letters of intent and/or enter into term sheets or other similar arrangements that are subject to negotiation of definitive agreements. There can be no assurance that we will enter into any such definitive agreements.

● We will need to expand its organization and as such we may experience difficulties in recruiting needed additional employees and consultants, which could disrupt its operations.

● We may not be successful in its efforts to identify, or market additional pest control products.

● The use of any of our pest control products could result in product liability or similar claims that could be expensive, damage our reputation and harm its business.

● If we fail to comply with environmental, health and safety laws and regulations, we could become subject to fines or penalties or incur costs that could have a material adverse effect on the success of our business.

● The regulatory approval processes of the EPA and comparable foreign authorities are lengthy, time consuming and inherently unpredictable. If we are ultimately unable to obtain regulatory approval for its pest control products, our business will be substantially harmed.

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***Risks Related to Third Parties***

● We rely on third parties to manufacture our pest control products.

● Risks associated with the suppliers from whom our products are sourced could materially adversely affect our financial performance, as well as its reputation and brand.

● Our eCommerce operations, including the costs and supply chain, are subject to risks associated with sourcing, importing and warehousing.

● Our dependence on third parties to provide overseas transportation and domestic distribution services may impact the delivery and quality of our transportation and logistics services, and any disruption to these services could result in a disruption to our business, negative publicity, and a slowdown in the growth of our customer base, materially and adversely affecting our business, financial condition, and results of operations.

● Our eCommerce operations rely on data provided by third parties, the loss of which could limit the functionality of its platforms, cause us to invest in the wrong product or disrupt its business.

● Our failure or the failure of third parties to protect our sites, networks and systems against security breaches, or otherwise to protect our confidential information and practices, could damage our reputation and brands and substantially harm our business and operating results.

***Risks Related to our Intellectual Property***

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● Third-party claims of intellectual property infringement may prevent or delay our development and commercialization efforts.

● We may be involved in lawsuits to protect or enforce our intellectual property, which could be expensive, time consuming, and unsuccessful.

● We may not be able to protect our intellectual property rights throughout the world

● The inability to acquire, use or maintain our trademarks and domain names for our sites could substantially harm our business and operating results.

● Intellectual property rights do not necessarily address all potential threats.

***Risks Related to Commercialization of our Pest Control Products***

● If the market opportunities for our existing or future pest control products are smaller than we believe they are, our revenue may be adversely affected, and its business may suffer.

● We face intense competition and the possibility that its competitors may source, develop or commercialize pest control products that are similar, more advanced or more effective than our products, which may adversely affect our financial condition and its ability to successfully commercialize its products.

● Any significant disruption in service on our websites or in our computer systems, a number of which are currently hosted or provided by third-party providers, could materially affect our ability to operate, damage our reputation and result in a loss of customers, which would harm our business and results of operations.

● Our eCommerce operations' efforts to acquire or retain customers, and our efforts to sell new products or increase sales of its existing products, may not be successful, which could prevent us from maintaining or increasing sales and achieving profitability.

● Our eCommerce operations are subject to risks related to online payment methods.

● We may not accurately forecast revenues, profitability and appropriately plan its expenses.

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***Risks Related to Legal and Regulatory Matters***

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● We may be subject to general litigation, regulatory disputes and government inquiries.

● A failure to comply with current laws, rules and regulations or changes to such laws, rules and regulations and other legal uncertainties may adversely affect our business, financial performance, results of operations or business growth.

● If our products experience any recalls, product liability claims, or government, customer or consumer concerns about product safety, our reputation and operating results could be harmed.

● Any failure by us or our vendors to comply with product safety, labor or other laws, or our standard vendor terms and conditions, or to provide safe factory conditions for our or their workers may damage our reputation and brand and harm our business.

● We are subject to U.S. governmental regulation and other legal obligations related to privacy, data protection and information security. If we are unable to comply with these, we may be subject to governmental enforcement actions, litigation, fines and penalties or adverse publicity.

● In Europe, where we expanded our business operations as part of our growth, the data privacy and information security regime continues to evolve and is subject to increasing regulatory scrutiny.

● Even following receipt of any regulatory approval for our pest control products, we will continue to be subject to regulation of our advertising practices.

● Our operations are subject to environmental laws and regulations that may increase costs of operations and impact or limit our business plans.

***Risks Related to our International Operations***

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● Conditions in Israel may affect our operations.

● Exchange rate fluctuations between foreign currencies and the U.S. Dollar may negatively affect our earnings.

***Risks Related to Our Status as a Public Company and Ownership of our Common Shares***

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● Our executive officers, directors and principal shareholders will maintain the ability to exert significant control over matters submitted to our shareholders for approval.

● There has been no prior public market in the United States for our common shares, and an active trading market in the United States may not develop. Our securities will be traded on more than one market or exchange and this may result in price variations.

● If our existing shareholders sell common shares, either on the TSX Venture Exchange or Nasdaq, after our anticipated listing, the market price of our common shares could decline.

● Failure to achieve and maintain effective internal controls in accordance with Section 404 of the Sarbanes-Oxley Act could have a material adverse effect on our business, results of operation or financial condition. In addition, current and potential shareholders could lose confidence in our financial reporting, which could have a material adverse effect on the price of our common shares.

● As a foreign private issuer, we are permitted, and intend, to follow certain home country corporate governance practices instead of otherwise applicable Nasdaq requirements.

● We are an "emerging growth company".

● Because we are a corporation incorporated in British Columbia and some of our directors and officers are resident in Canada, it may be difficult for investors in the United States to enforce civil liabilities against us based solely upon the federal securities laws of the United States. Similarly, it may be difficult for Canadian investors to enforce civil liabilities against our directors and officers residing outside of Canada.

● We will incur significant increased costs as a result of the listing of our securities for trading on Nasdaq.

● We may be subject to securities litigation, which is expensive and could divert management attention.

**Risks Related to Our Businesses, Strategies, Technology, and Industry**

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***Our operating results may fluctuate, which makes our results difficult to predict and could cause our results to fall short of expectations.***

Our operating results may fluctuate as a result of a number of factors, many of which are outside of our control. As a result, comparing our operating results on a period-to-period basis may not be meaningful, and you should not rely on our past results as an indication of our future performance. For the year ended December 31, 2024, we reported a net profit of $360 thousand, compared to a net loss of $92 thousand for the year ended December 31, 2023. For the nine months ended September 30, 2025, we reported a net loss of $4,626 thousand, compared to a net profit of $400 thousand for the nine months ended September 30, 2024.

Our quarterly, year-to-date and annual expenses as a percentage of our revenues may differ significantly from our historical or projected rates. Our operating results in future quarters may fall below expectations. Any of these events could cause our share price to fall. Each of the following factors, among the other risks described herein, may affect our operating results:

● our ability to penetrate the pest control industry with our products;

● our ability to generate revenue from our products;

● the amount and timing, of operating costs and capital expenditures related to the maintenance and expansion of our businesses, and operations;

● our focus on long-term goals over short-term results;

● the global economic situation; and

● seasonal fluctuations that impact the demand for pest control products.

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***We will require additional capital to fund our operations. Failure to obtain this necessary capital if needed may force us to delay, limit, or terminate our product development efforts or other operations.***

Commercialization of our products and developing further product candidates, including conducting experiments and field studies, obtaining and maintaining regulatory approval and commercializing any products approved for sale, is a time-consuming, expensive and uncertain process that takes years to complete. We expect our expenses to continue and to increase in connection with our ongoing activities, particularly as we advance our commercialization activities. We may expand our operations, and as a result of many factors, some of which may be currently unknown to us, our expenses may be higher than expected. Securing additional financing may divert our management from their day-to-day activities, which may adversely affect our ability to develop and commercialize our product candidates. In addition, we cannot guarantee that future financing will be available in sufficient amounts or on terms acceptable to us, if at all. If we are unable to raise additional capital when required or on acceptable terms, we may be required to take certain actions, including the following:

● significantly delay, scale back or discontinue the development or commercialization of our product candidates;

● seek strategic partners for the manufacturing, sales and distribution of our products or any of our other product candidates at an earlier stage than otherwise would be desirable or on terms that are less favorable than might otherwise be available; and

● relinquish, or license on unfavorable terms, our rights to technologies or product candidates that we otherwise would seek to develop or commercialize ourselves.

The occurrence of any of the events described above would have a material adverse effect on our business, operating results and prospects and on our ability to develop our product candidates.

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***We face risks regarding our ability to compete in the pest control industry in the future.***

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We operate in a highly competitive industry with fragmented markets and low barriers to entry. Our revenues and earnings are affected by changes in competitors' services, technological advances by our competitors, markets, and prices and general economic issues. We compete with other large pest control companies, as well as numerous smaller pest control companies and do-it-yourself options, for a finite number of customers. We believe that the principal competitive factors in the market areas that we serve are quality and speed of service, customer proximity, customer satisfaction, brand awareness and reputation, terms of guarantees, technical proficiency and price. Although we believe that our customer experience and quality service are excellent, we cannot assure investors that we will be able to maintain our competitive position in the future.

If we do not compete effectively with these competitors, our revenue may not grow. We have experienced competition from a number of pest control companies and expects continued competition in the future. Our competitors may announce new products, services or enhancements that better meet the needs of customers or changing industry standards. Increased competition may cause price reductions, reduced gross margins and reduced growth in sales, any of which could have a material adverse effect on our business, results of operations and financial condition. We face substantial competition from established competitors, many of which may have greater financial, research and marketing resources than it does. Many of these companies also have a larger customer base, have longer operating histories or have greater name recognition than we do. There can be no assurance that we will successfully differentiate our current and proposed products from the products of our competitors, or that the marketplace will consider our products to be superior to competing products. Because of the industry in which we operate, we expect to face additional competition from new entrants. To maintain our competitive position, it is believed that we will be required to continue to invest in research and development, marketing and regulatory approvals. There can be no assurance that we will have sufficient resources to continue to make these investments, that we will be able to make the technological advances necessary to maintain our competitive position, or that our products will receive market acceptance. Our competitors may be able to respond more quickly to changes in customer requirements and devote greater resources to the enhancement, promotion and sale of their products. We may not be able to compete successfully in the future, and increased competition may result in price reductions, reduced profit margins, loss of market share and an inability to generate cash flows that are sufficient to maintain or expand our development of new products.

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***We may not be able to manage our growth effectively, and such rapid growth may adversely affect our corporate culture.***

We expect to rapidly and significantly expand our operations and anticipate expanding further as we pursue our growth strategies over the next several years. These expectations are based on our demonstrated ability to successfully launch and scale our operations in the United Kingdom, where we have established operating processes, supplier relationships, and market-specific expertise. We believe this operating model is replicable across other European markets due to similar regulatory frameworks, customer demand characteristics, and distribution channels, as well as our ability to efficiently ship products from our U.K. warehouses to Amazon fulfillment centers across Europe due to their close geographic proximity.

Building on this foundation, we have begun implementing our strategy to expand into additional European countries. We have successfully launched operations in several key markets, including France, Italy, and Germany, and we intend to leverage the operational expertise, infrastructure, and lessons learned from these initial expansions to enter additional European markets. We currently expect the most significant phase of this expansion to occur over the next two to three years, subject to market conditions, regulatory considerations, and our ability to secure sufficient operational and financial resources.

Such expansion increases the complexity of our business and places a significant strain on our management, operations, technical systems, financial resources and internal control over financial reporting functions. Our current and planned personnel, systems, procedures and controls may not be adequate to support and effectively manage our future operations, especially as we employ personnel in several geographic locations.

We are currently in the process of transitioning certain of our business and financial systems to systems on a scale reflecting the increased size, scope and complexity of our operations, and the process of migrating our legacy systems could disrupt our ability to timely and accurately process information, which could adversely affect our results of operations and cause harm to our reputation. As a result, we may not be able to manage our expansion effectively.

Our entrepreneurial and collaborative culture is important to us, and we believe it has been a major contributor to our success. We may have difficulties maintaining our culture or adapting it sufficiently to meet the needs of our future and evolving operations as we continue to grow, in particular as we grow internationally.

In addition, we are currently in the process of developing and maintaining our culture as a public company, with the attendant changes in policies, practices, corporate governance and management requirements. Failure to successfully develop or maintain such a culture could have a material adverse effect on our business, results of operations, financial condition and prospects.

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***We are heavily dependent on the success of its pest control products, for which it does not hold any patents. We cannot give any assurance that any of its current or future pest control products will receive regulatory approval in additional markets, which is necessary before they can be commercialized.***

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To date, we have invested substantially all of its efforts and financial resources to source and market its pest control products. Our future success is dependent on its ability to continue to source its current products from third party suppliers and to successfully source, obtain regulatory approval for, and then successfully market and commercialize new products in the future. We hold no patents over our pest control products and cannot prevent our competitors from selling the same or similar products under different branding.

Our ability to sell our products in new markets is subject to environmental regulations and the grant of other necessary regulatory approvals from each jurisdiction in which the products are to be sold. There is no guarantee that we will be able to obtain and maintain such regulatory approval for all or any of our new or existing products in new or existing markets.

We generally plan to seek regulatory approval to commercialize its existing pest control products in the U.S., and additional jurisdictions in Europe. To obtain regulatory approvals we must comply with the numerous and varying regulatory requirements of such countries and/or provinces and states therein regarding safety, environmental protections, commercial sales, pricing and distribution of our products. Even if we are successful in obtaining approvals in some new jurisdictions, we cannot ensure e wit will obtain approval in any other jurisdictions or maintain our current approvals. If we are unable to obtain and maintain approval for our existing and new products in existing and new jurisdictions, our revenue and results of operations would be negatively affected.

***Our e-commerce operations are reliant on Amazon and FBA and changes to Amazon, Amazon's services and their terms of use may harm our business.***

Our products are sold predominantly on Amazon and orders are fulfilled entirely by Amazon utilizing the FBA model. In order to continue to utilize Amazon and the FBA model, we must comply with the applicable policies and terms of use relating to these services. Such policies and terms of use may be altered or amended at Amazon's sole discretion, including changes regarding the cost of securing these services, and changes that increase the burden of compliance with its requirements, may cause us to significantly alter our business model or incur additional costs in order to comply, which could negatively impact our results of operations. Non-compliance with applicable terms of use and policies can result in the removal of one or more products from the marketplace and suspension of fulfillment services either of which could have a material adverse effect on our business and results of our operations. Although we exert efforts in order to ensure ongoing compliance and no notices of non-compliance have been received to date, we cannot assure you that events of this kind will not occur in the future.

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***We rely on other information technologies and systems to operate our business and to maintain our competitiveness, and any failure to invest in and adapt to technological developments and industry trends could harm our business.***

We depend on sophisticated information technologies and systems, technology and systems used for websites and apps, customer service, logistics and fulfillment, supplier connectivity, communications and administration. As our operations grow in size, scope and complexity, we will need to continuously improve and upgrade our systems and infrastructure to offer an increasing number of consumer-enhanced services, features and functionalities, while maintaining and improving the reliability and integrity of our systems and infrastructure.

Our future success also depends on our ability to assimilate different analytical tools as well as internal methodologies, including logistics and fulfillment platform which leverages, to meet rapidly evolving e-commerce trends and demands. The emergence of alternative platforms may require us to continue to invest in new and costly technology. We may not be successful, or we may be less successful than our competitors, in adopting technologies that operate effectively across multiple e-commerce platforms, which would negatively impact our business and financial performance. New developments in other areas, such as cloud computing providers, could also make it easier for competitors to enter our markets due to lower up-front technology costs. In addition, we may not be able to maintain our existing systems or replace our current systems or introduce new technologies and systems as quickly or cost effectively as we would like. Failure to invest in and adapt to technological developments and industry trends may have a material adverse effect on our business, results of operations, financial condition and prospects.

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***Our business depends on our ability to build and maintain strong product listings on e-commerce platforms. We may not be able to maintain and enhance our product listings if we receive a substantial number of customer complaints, negative publicity or otherwise fail to live up to customers' expectations, any of which could materially adversely affect our business, results of operations and growth prospects.***

Maintaining and enhancing our product listings is critical in expanding and growing our business. However, a significant portion of our perceived performance to the customer depends on third parties outside of our control, including suppliers and logistics providers such as FedEx, UPS, postal services and other third-party delivery agents and online retailers, mainly Amazon. Because our agreements with our online retail partners are generally terminable at will, we may be unable to maintain these relationships, and our results of operations could fluctuate significantly from period to period. Because we rely on third party logistics companies, like FedEx, to deliver our products, we are subject to shipping delays or disruptions caused by inclement weather, natural disasters, labor activism, health epidemics or bioterrorism. In addition, because we rely on national, regional and local transportation companies for the delivery of some of our other products, we are also subject to risks of breakage or other damage during delivery by any of these third parties. If these third parties do not meet our or our customers' expectations, our brands may suffer irreparable damage. In addition, maintaining and enhancing our current and future brands may require us to make substantial investments, and these investments may not yield sufficient returns. If we fail to promote and maintain our brands, or if we incur excessive expenses in this effort, our business, operating results and financial condition may be materially adversely affected. We anticipate that, as our market becomes increasingly competitive, maintaining and enhancing our brands may become increasingly difficult and expensive. Maintaining and enhancing our brands will depend largely on our ability to anticipate market trends and customer demand and to provide high quality products to our customers and a reliable, trustworthy and profitable sales channel to our suppliers, which we may not be able to do successfully.

A substantial number of customer complaints or negative publicity about our sites, products, delivery times, customer data handling and security practices or customer support, especially on blogs, social media websites or our sites, could rapidly and severely diminish consumer views of our products and result in harm to our brands. Customers may also make safety-related claims regarding products sold through our online retail partners, such as Amazon, which may result in an online retail partner removing the product from its marketplace. Such removal may materially impact our financial results depending on the product that is removed and the length of time that it is removed. We also use and rely on other services from third parties, such as our telecommunications services, and those services may be subject to outages and interruptions that are not within our control.

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***Our efforts to acquire or retain customers, and our efforts to sell new products or increase sales of our existing products, may not be successful, which could prevent us from maintaining or increasing our sales.***

If we do not successfully promote and sustain our new and/or existing product listings and brands through marketing and other tools, we may fail to maintain or increase our sales. Promoting and positioning our brands and product listings will depend largely on the success of our marketing efforts, our ability to attract customers cost effectively and our ability to consistently provide a high-quality product and maintain consumer satisfaction. We also use promotions to drive sales, which may not be effective and may adversely affect our gross margins. Our investments in marketing may not effectively reach potential customers, potential customers may decide not to buy our products or the spending of customers that purchase from us may not yield the intended return on investment, any of which could negatively affect our financial results. The failure of our marketing activities could also adversely affect our ability to promote our product listings and sell our products, and to develop and maintain relationships with our customers, retailers and brands, which may have a material adverse effect on our business, results of operations, financial condition and prospects.

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***We currently have no marketing or sales staff and relies in large part on the Amazon Marketplace search mechanism to source new customers.***

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While we sell some of our products direct to consumers via its webpages, the majority of our sales occur on the Amazon Marketplace and we rely on the Amazon Marketplace search mechanism and Amazon's search engine optimization tools to promote our products to Amazon customers and other potential customers searching for pest control products on internet search browsers. If Amazon fails to promote our products or lists the products of competitor's in its search results ahead of our products, our ability to grow our business and generate revenue may be adversely affected.

***If we fail to acquire new customers or retain existing customers***, ***including end customers with respect to sales generated using the FBA or FBM model, or fail to do so in a cost-effective manner, we may not be able to achieve profitability.***

Our success depends on our ability to acquire and retain customers, including end customers from e-commerce platforms, such as Amazon, in a cost-effective manner. In order to expand our customer base, we must appeal to and acquire customers who have historically used other channels to purchase the wide variety of products we offer and may prefer alternatives to our offerings, such as those offered by other vendors on Amazon, traditional brick-and-mortar retailers and the websites of our competitors or our suppliers' own websites. We expect competition in e-commerce generally to continue to increase. Competitors have introduced lower cost or differentiated products that are perceived to compete with our products. If we are unable to correctly anticipate market trends and customer demand, our ability to sell our products could be impaired. If we fail to deliver quality products, or if customers do not perceive the products we offer to be of high value and quality, we may not be able to acquire new customers. If we are unable to acquire new customers who purchase products in numbers sufficient to grow our business, we may not be able to generate the scale necessary to drive beneficial network effects with our suppliers, our net revenue may decrease and our business, financial condition and operating results may be materially adversely affected.

We believe new customers, including end customers from e-commerce platforms, such as Amazon, can originate from word-of-mouth and other non-paid referrals from existing customers. Therefore, we must ensure that our existing customers, including customers from e-commerce platforms, such as Amazon, remain loyal to us in order to continue receiving those referrals. If our efforts to satisfy our existing customers are not successful, we may lose these customers or we may not be able to acquire new customers in sufficient numbers to continue to grow our business, or we may be required to incur significantly higher marketing expenses in order to acquire new customers. For example, since 2016, Amazon has maintained a policy whereby they will purge all reviews they believe are paid for. While we do not ask customers to leave a positive review or change a review, some of our reviews may be purged by Amazon in accordance with this policy if Amazon believes they were questionable or not authentic. If Amazon purges reviews or if we are unable to maintain our positive reviews, it may adversely affect our ability to acquire new customers or retain existing ones.

In addition, we believe that Amazon has, from time to time, placed limitations on the daily volume of reviews that may be provided for any specific product listing. This limitation or others relating to customer engagement with our product listings could impact the success of our product listings, which could adversely impact our financial performance.

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***If we fail to offer high-quality customer support, our business and reputation may suffer.***

High-quality education and training of customer support personnel to deliver high-quality customer support are important for the successful retention of existing customers. Providing this education, training and support requires that our support personnel have specific knowledge and expertise of our products and markets, making it more difficult for us to hire experienced personnel and to scale up our support operations. The importance of high-quality customer support will increase as we expand our business and pursue new customers. If we do not provide effective and timely ongoing support, our ability to retain existing customers may suffer, and our reputation with existing or potential customers may be harmed, which would have a material adverse effect on our business, results of operations, financial condition and prospects. As we rely on Amazon Marketplace's customer support services for the majority of our customer support, the quality, timeliness, and availability of customer support to its customers is not in our control unless we expend significant time and resources developing our internal customer support capabilities, and even if such capabilities are developed customers may still choose to utilize Amazon Marketplace customer support over direct customer support offered by us.

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***Our efforts to expand our business into new brands, products, services, technologies and geographic regions will subject us to additional business, legal, financial and competitive risks and may not be successful.***

Our business success depends to some extent on our ability to expand our consumer offerings by launching new brands, products and services and by expanding our existing offerings into new geographic regions.

Our strategy is to use our skills to determine which markets to enter and optimize the mix of products and services that we offer.

Launching new brands, products and services requires significant upfront investments, including investments in marketing (namely digital marketing and pay per click), information technology and additional personnel. We operate in highly competitive industries with relatively low barriers to entry and must compete successfully in order to grow our business. We may not be able to generate satisfactory revenue from these efforts to offset these costs. Any lack of market acceptance of our efforts to launch new brands, products or services or to expand our existing offerings could have a material adverse effect on our business, prospects, financial condition and results of operations. Further, as we continue to expand our fulfillment capability or add new businesses with different requirements, our logistics networks will become increasingly complex and operating them will become more challenging. There can be no assurance that we will be able to operate our networks effectively.

We have also entered and may continue to enter new markets and provide product offerings in which we have limited or no experience, which may not be successful or appealing to our customers.

The consumer packaged goods, or CPG, industry is subject to evolving standards and practices, as well as changing consumer needs, requirements and preferences. Our ability to attract new customers and increase revenue from existing customers depends, in part, on our ability to enhance and improve our existing tools that enable us to pinpoint new markets and introduce new products. The success of any enhancements or new instruments depends on, in part, market-accepted pricing levels and overall market acceptance. We may not be successful in these efforts, which could result in significant expenditures that could impact our revenue or distract management's attention from current offerings.

Increased emphasis on the sale of new products could distract us from sales of our existing products in existing markets, negatively affecting our overall sales. We have invested and expect to continue to invest in new businesses, products, features, services and technologies. Such endeavors may involve significant risks and uncertainties, including insufficient revenue from such investments to offset any new liabilities assumed and expenses associated with these new investments, inadequate return of capital on our investments, distraction of management from current operations and unidentified issues not discovered in our due diligence of such investments that could cause us to fail to realize the anticipated benefits of such investments and incur unanticipated liabilities. Because these new strategies and offerings are inherently risky, no assurance can be given that they will be successful. Our new features or enhancements could fail to attain sufficient market acceptance for many reasons, including:

● delays in introducing products in new markets;

● failure to accurately predict market demand or end consumer preferences;

● introduction of competing products;

● poor financial conditions for our customers or poor general macroeconomic conditions;

● changes in legal or regulatory requirements, or increased legal or regulatory scrutiny, adversely affecting our products;

● failure of our brands and products digital promotion activities or negative publicity about the performance or effectiveness of our existing brands and products; and

● disruptions or delays in the online retailers and, or in addition to, logistics providers distributing our products.

There is no assurance that we will successfully identify new opportunities or develop and bring new products to market on a timely basis, which could materially and adversely affect our business and operating results and compromise our ability to generate revenue.

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***Potential growth of our businesses is based on international expansion, making us susceptible to risks associated with international sales and operations.***

We intend to expand our operations to reach new markets and localities. For example, in 2024, we expanded to France, Germany, Italy, and certain other European countries and have completed the requisite processes in order to offer certain of our products through Amazon in additional European countries. We may not be successful in increasing our sales in any or all territories and currently do not have an estimated commencement date for sales in these other major European countries. Conducting international operations subjects us to certain risks, which include localization of solutions and products and adapting them to local practices and regulatory requirements, exchange rate fluctuations and unexpected changes in tax, trade laws, tariffs, governmental controls and other trade restriction. To the extent that we do not succeed in expanding our operations internationally and managing the associated legal and operational risks, our results of operations may be adversely affected.

There are a number of risks inherent in international activities, including: unexpected changes in governmental policies concerning the import and export of goods; services and technology and other regulatory requirements; tariffs and other trade barriers; costs and risks of localizing products for foreign languages; longer accounts receivable payment cycles; limits on repatriation of earnings; the burdens of complying with a wide variety of foreign laws; and difficulties supervising and managing local personnel. As such, our operations may be adversely affected by changes in foreign government policies and legislation or social instability and other factors which are not within our control, including, but not limited to, changes in regulatory requirements, economic sanctions, risk of terrorist activities, revolution, border disputes, implementation of tariffs and other trade barriers and protectionist practices, volatility of financial markets, labor disputes and other risks arising out of foreign governmental sovereignty over the areas in which our operations are conducted. Laws and policies of Israel and such foreign jurisdictions affecting foreign trade, taxation and investment may have a material adverse effect on our operations.

Given the current volatility concerning the implementation of international tariffs by the United States, including tariffs imposed on Israel, the United Kingdom of Great Britain and Northern Ireland, and China, the risk of tariff related impacts on our business have been increased. Tariffs imposed on Israel, the United Kingdom of Great Britain and Northern Ireland, and China, or other jurisdictions applying to our products may force us to raise the prices of our products, which may in turn affect our ability to successfully market our products and grow or maintain our business, which is currently focused on the European market.

If our operations are disrupted and/or the economic integrity of our contracts is threatened for unexpected reasons, our business may be harmed. In the event of a dispute arising in connection with our operations in a foreign jurisdiction where we do conduct or will conduct our business, we may be subject to the exclusive jurisdiction of foreign courts or may not be successful in subjecting foreign persons to the jurisdictions of the courts of the United States or Canada or enforcing U.S. or Canadian judgments in such other jurisdictions.

***Use of social media and email may adversely impact our reputation or subject us to fines or other penalties.***

We use social media and email as part of our digital marketing efforts. As laws and regulations rapidly evolve to govern the use of these channels, the failure by us, our employees or third parties acting at on our behalf to abide by applicable laws and regulations in the use of these channels could adversely affect our reputation or subject us to fines or other penalties. In addition, our employees or third parties acting on our behalf may knowingly or inadvertently make use of social media in ways that could lead to the loss or infringement of intellectual property, as well as the public disclosure of proprietary, confidential or sensitive personal information of our business, employees, customers or others. Any such inappropriate use of social media or email could also cause reputational damage.

Customers value readily available information concerning retailers and their goods and services and often act on such information without further investigation and with no regard to its accuracy. Our customers may engage with us online through our social media platforms, including Facebook and Instagram, by providing feedback and public commentary about all aspects of our business. Information concerning us or our retailers and brands, whether accurate or not, may be posted on social media platforms at any time and may have a disproportionately adverse impact on our brand, reputation or business. The harm may be immediate without affording us an opportunity for redress or correction and could have a material adverse effect on our business, results of operations, financial condition and prospects.

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***If our emails are not delivered and accepted or are routed by email providers less favorably than other emails, or our sites or mobile applications are not accessible or are treated disadvantageously by Internet service providers, our business may be substantially harmed.***

If email providers or Internet service providers, or ISPs, implement new restrictive email or content delivery or accessibility policies, including with respect to net neutrality, or begin enforcement of existing policies, it may become more difficult to deliver emails to our customers or for customers to access our sites, products and services. For example, certain email providers, including Google, categorize our emails as "promotional", and these emails are directed to an alternate, and less readily accessible, section of a customer's inbox. If email providers materially limit or halt the delivery of our emails, or if we fail to deliver emails to customers in a manner compatible with email providers' email handling or authentication technologies, our ability to contact customers through email could be significantly restricted. In addition, if we are placed on "spam" lists or lists of entities that have been involved in sending unwanted, unsolicited emails, our operating results and financial condition could be substantially harmed. Further, if ISPs prioritize or provide superior access to our competitors' content, our business and results of operations may be negatively impacted.

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***If we are unable to manage our inventory effectively, our operating results could be adversely affected.***

To ensure timely delivery of products, we generally enter into purchase orders in advance with manufacturers. As a result, we are vulnerable to demand and pricing shifts and to suboptimal selection and timing of product purchases. We rely on our procurement team to order products and we rely on our data analytics to inform the levels of inventory we purchase, including when to reorder items that are selling well and when to write off items that are not selling well. In these instances, we may be unable to always predict the appropriate demand for our products by customers with accuracy, which may result in inventory shortages, inventory write offs and lower gross margins.

If our sales and procurement teams do not predict demand well or if our algorithms do not help us reorder the right products or write off the right products timely, we may not effectively manage our inventory, which could result in inventory excess or shortages, and our operating results and financial condition could be adversely affected.

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***Our business, including our costs and supply chain, is subject to risks associated with sourcing, importing and warehousing.***

We source the products we offer from third-party vendors and, as a result, we may be subject to price fluctuations or demand disruptions. Our operating results could be negatively impacted by increases in the prices of our products, and we have no guarantees that prices will not rise. In addition, as we expand into new categories and types of products, we expect that we may not have strong purchasing power in these new areas, which could lead to higher costs than we have historically seen in our current product categories and types. We may not be able to pass increased costs on to customers, which could adversely affect our operating results.

In addition, we cannot guarantee that products we receive from vendors will be of sufficient quality or free from damage or defects, or that such merchandise will not be damaged during shipping or storage. While we take measures to ensure product quality and avoid damage, including evaluating vendor facilities, operations and product samples, conducting inventory inspections and inspecting returned products, we cannot control merchandise while it is out of our possession or prevent all damage while in our distribution centers. We may incur additional expenses and our reputation could be harmed or if current or potential customers believe that our merchandise is not of high quality or may be damaged.

***Risks associated with the suppliers from whom our products are sourced could materially adversely affect our financial performance, as well as our reputation and brand.***

We depend on our ability to provide our customers with a wide range of products from high quality suppliers in a timely and efficient manner. Our agreements with most of our suppliers do not provide for the long-term availability of merchandise or the continuation of particular pricing practices, nor do they usually restrict such suppliers from selling products to other buyers or directly themselves. There can be no assurance that our current suppliers will continue to seek to sell us products on current terms or that we will be able to establish new or otherwise extend current supply relationships to ensure product acquisitions in a timely and efficient manner and on acceptable commercial terms. Our ability to develop and maintain relationships with reputable suppliers and offer high quality products to our customers is critical to our success. If we are unable to develop and maintain relationships with suppliers that would allow us to offer a sufficient amount and variety of quality products on acceptable commercial terms, our ability to satisfy our customers' needs, and therefore our long-term growth prospects, would be materially adversely affected.

We also are unable to predict whether any of the countries in which our suppliers' products are currently manufactured or may be manufactured in the future will be subject to trade restrictions imposed by the U.S. or foreign governments or the likelihood, type or effect of any such restrictions. Any event causing a disruption or delay of imports from suppliers with international manufacturing operations, including the imposition of additional import restrictions, restrictions on the transfer of funds or increased tariffs or quotas, could increase the cost or reduce the supply of merchandise available to our customers and materially adversely affect our financial performance as well as our reputation and brand. Our competitors may have greater existing inventory positions and other advantages that may allow them to price more competitively relative to our products. Furthermore, some or all of our suppliers' foreign operations may be adversely affected by political and financial instability, resulting in the disruption of trade from exporting countries, restrictions on the transfer of funds or other trade disruptions.

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***Manufacturing risks, including risks related to manufacturing in China, may adversely affect our ability to manufacture our products and could reduce our gross margin and our profitability.***

We rely on third party manufacturers in China to manufacture our products. As a result, our business is subject to risks associated with doing business in China, including:

● trade protection measures, such as tariff increases, and import and export licensing and control requirements;

● potentially negative consequences from changes in tax laws;

● difficulties associated with the Chinese legal system, including increased costs and uncertainties associated with enforcing contractual obligations in China;

● unexpected or unfavorable changes to our supply chain and supplier relationships, including any tariff-related impacts on our supply chain;

● unexpected or unfavorable changes in regulatory requirements; and

● changes and volatility in currency exchange rates.

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***Economic regulation, trade restrictions, and increasing manufacturing costs in China could adversely impact our business and results of operations.***

We contract with manufacturing facilities in the People's Republic of China. For many years, the Chinese economy has experienced periods of rapid growth. An increase in the cost of labor or taxes on wages in China may lead to an increase in the cost of goods manufactured in China. Significant increases in wages or wage taxes paid by contract manufacturing facilities may increase the cost of goods manufactured in China which could have a material adverse effect on our profit margins and profitability. Additionally, government trade policies, including the imposition of tariffs, export restrictions, sanctions or other retaliatory measures could limit our ability to source materials and products from China at acceptable prices or at all. For example, both the United States and China have implemented several rounds of tariffs and retaliations with respect to certain products imported from the other country, some of which may impact certain products we import. Moreover, the U.S. Congress passed the Uyghur Forced Labor Prevention Act in an effort to prevent what it views as forced labor and human rights abuses in the Xinjiang Uyghur Autonomous Region, or XUAR. If it is determined that our third-party suppliers and manufacturers mine, produce or manufacture our products wholly or in part from the XUAR, then we could be prohibited from importing such products into the U.S. In addition, Chinese trade regulations are in a state of flux, and we may become subject to other forms of taxation, tariffs and duties in China. We do not currently have arrangements with contract manufacturers in other countries that may be acceptable substitutes. We cannot predict what actions may ultimately be taken with respect to tariffs, export controls, countermeasures, or other trade measures between the U.S. and China or other countries and what products may be subject to such actions. To the extent such actions inhibit our transactions with contract manufacturing facilities and suppliers in China, our business may be materially adversely affected.

***Recent and further changes in the tariff and trade policies of the United States or of other countries could increase manufacturing costs, decrease demand for our solution, disrupt supply chains, or otherwise adversely affect our business and financial condition.***

There is currently significant uncertainty about the future relationship between the United States and its trading partners with respect to trade policies, tariffs, and similar policies affecting cross-border operations. The U.S. government has made and continues to make significant additional changes in U.S. trade policy, specifically tariffs, and may continue to take future actions that could negatively impact our business. The U.S. government recently escalated tariffs on the import of goods from most U.S. trading partners. For example, in March 2025, the United States placed an additional 20% tariff on most goods from China, imposed an additional 25% tariff on most products from Canada and Mexico (with an exception for goods that qualify for duty-free treatment under the U.S.-Mexico-Canada Agreement ("**USMCA**") and a 10% tariff on certain non-USMCA energy products), and implemented 25% Section 232 tariffs on various articles of steel and aluminum. Section 232 tariffs are import restrictions imposed, based on a finding that certain imports threaten to impair U.S. national security. In April 2025, the U.S. government imposed 25% Section 232 tariffs on passenger vehicles and light trucks (with similar Section 232 tariffs on components for such vehicles expected to be imposed beginning in May 2025); an additional reciprocal tariff of 125% on most imports from China; and an additional reciprocal tariff of 10% on most imports from U.S. trading partners other than China, Canada, Mexico, and countries with which the U.S. does not have normal trade relations. In May 2025, the U.S. and Chinese governments announced a trade deal temporarily suspending such reciprocal tariffs of 125%. There are certain products exempt from the reciprocal tariff measures, including items subject to Section 232 tariffs (e.g., steel and aluminum articles); certain pharmaceuticals and pharmaceutical products; and certain semiconductors, computers, and other products derivative of critical minerals. However, the scope of these exclusions is subject to change. In addition, the U.S. Department of Commerce has recently initiated Section 232 investigations into additional products, including semiconductors and related manufacturing equipment, processed critical minerals and derivative products; and medium-duty and heavy-duty trucks and parts therefor. When these investigations are complete, the U.S. government may decide to levy additional tariffs on such products. The recent changes in tariff and trade policy underscore the uncertainty regarding the future relationships between the United States and its trading partners.

In response to these and other U.S. trade measures, China, Canada, and other affected countries have taken retaliatory actions to respond. Such actions include the imposition of retaliatory tariffs on imports of products of U.S. origin, the imposition of export controls on a wide array of products (including rare earth metals and other critical minerals), as well as other actions. The adoption of retaliatory actions by China prompted the United States to further increase its tariff measures, and continued escalation of tariffs and trade measures could result in the outbreak of a trade war. The trade and tariff policies of the United States and other countries are currently fluid and subject to further changes.

These and future changes to trade policy and tariffs could negatively impact our business, as Amazon and third-party sellers, including our brands, frequently transfer goods between fulfillment centers in the U.S. and Canada. As a result, our cross-border shipment may be subject to additional duties, increasing costs and reducing profit margins. The extent of the impact remains uncertain and will depend on evolving trade policies, regulatory interpretations, and potential exemptions. These changes could reduce the attractiveness of cross-border e-commerce and negatively affect our sales volume and revenue.

***Shipping is a critical part of our business and any changes in shipping costs or any interruptions in shipping could adversely affect our operating results.***

If we are not able to negotiate acceptable pricing and other terms with vendors or if vendors experience performance problems or other difficulties, it could negatively impact our operating results and our customers' experience. We are also subject to volatility in ocean freight rates that are driven, in part, by seasonality, capacity availability and other factors, including fuel-related regulations affecting the shipping industry. In addition, our ability to receive inbound inventory efficiently and ship merchandise to clients may be negatively affected by inclement weather, fire, flood, power loss, earthquakes, labor disputes, acts of war or terrorism and similar factors. We are also subject to risk of damage or loss during delivery by our shipping vendors. If our products are not delivered in a timely fashion or are damaged or lost during the delivery process, our customers could become dissatisfied and cease using our products or services, which would adversely affect our business and operating results.

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***We depend on highly skilled personnel, including senior management, and if we are unable to retain or motivate key personnel or hire, retain and motivate qualified personnel, our business could be harmed.***

We believe our past success has depended, and our future success depends, on the efforts and talents of our senior management and our highly skilled team members. Our future success depends on our continuing ability to attract, develop, motivate and retain highly qualified and skilled employees. The loss of one or more of our key personnel or the inability to promptly identify a suitable successor to a key role could have an adverse effect on our business.

Competition for key personnel is strong, and we cannot be sure that we will be able to attract and retain a sufficient number of qualified personnel in the future, or that the compensation costs of doing so will not adversely affect our operating results. Similarly, competition for well-qualified employees in all aspects of our business is intense globally. We do not have long-term employment or non-competition agreements with any of our employees. If we do not succeed in attracting well-qualified employees or retaining and motivating existing employees and key senior management with the appropriate skills at cost-effective compensation levels, or if changes to our business adversely affect morale or retention, our business, results of operations, financial condition and prospects may be adversely affected.

In addition, in making employment decisions, job candidates often consider the value of the stock options or other equity incentives they are to receive in connection with their employment. If the price of our shares declines, or experiences significant volatility, our ability to attract or retain key employees may be adversely affected. Also, as employee options vest and the lock-up agreements expire, we may have difficulty retaining key employees. If we fail to attract new personnel or fail to retain and motivate our current personnel, our growth prospects could be severely harmed.

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***We may not accurately forecast revenues, profitability and appropriately plan our expenses.***

We base our current and future expense levels on our operating forecasts and estimates of future income and operating results. Income and operating results are difficult to forecast because they generally depend on the volume and timing of orders, which are uncertain. Additionally, our business is affected by general economic and business conditions around the world. A softening in income, whether caused by changes in consumer preferences or a weakening in global economies, may result in decreased net revenue levels, and we may be unable to adjust our spending in a timely manner to compensate for any unexpected shortfall in income. This inability could cause our income (loss) from operations after tax in a given quarter to be lower or higher than expected. We also make certain assumptions when forecasting the amount of expense we expect related to our share-based payments, which includes the expected volatility of our share price, and the expected life of equity awards granted. These assumptions are partly based on historical results. If actual results differ from our estimates, our operating results in a given quarter may be lower than expected.

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***Our eCommerce operation's operating results are subject to seasonal fluctuations.***

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Our business is subject to seasonality, due to the pest cycle throughout the year. For example, in some seasons, mice are prevalent, and thus sales of mice pest control increase, and thereafter decrease. The same applies for moths, cockroaches and other pests. We are active in various pest control business, negating the impact of seasonality on the business.  ****

***General economic factors may adversely affect our business, financial performance and results of operations.***

Our business, financial performance and results of operations depend significantly on worldwide macroeconomic economic conditions and their impact on consumer spending. Recessionary economic cycles, higher interest rates, volatile fuel and energy costs, inflation, levels of unemployment, conditions in the residential real estate and mortgage markets, access to credit, consumer debt levels, unsettled financial markets and other economic factors that may affect consumer spending or buying habits could materially and adversely affect demand for our products. In addition, volatility in the financial markets has had and may continue to have a negative impact on consumer spending patterns. A reduction in consumer spending or disposable income may affect us more significantly than companies in other industries and companies with a more diversified product offering. In addition, negative national or global economic conditions may materially and adversely affect our suppliers' financial performance, liquidity and access to capital. This may affect their ability to maintain their inventories, production levels and/or product quality and could cause them to raise prices, lower production levels or cease their operations.

Economic factors such as increased commodity prices, shipping costs, higher costs of labor, insurance and healthcare, and changes in or interpretations of other laws, regulations and taxes may also increase our cost of revenues and our selling, general and administrative expenses, and otherwise adversely affect our financial condition and results of operations.

Any significant increases in costs may affect our business disproportionately compared to our competitors. Changes in trade policies or increases in tariffs, may have a material adverse effect on global economic conditions and the stability of global financial markets and may reduce international trade.

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***Natural disasters or other unexpected events may adversely affect our operations, particularly our merchandise supply chain and shipping efforts.***

Natural disasters, such as earthquakes, hurricanes, tornadoes, floods and other adverse weather and climate conditions; unforeseen public health crises, such as pandemics and epidemics; political crises, such as terrorist attacks, war and other political instability; or other catastrophic events, whether occurring in Israel or internationally, could disrupt our operations in any of our offices and fulfillment centers or the operations of one or more of our third-party providers or vendors. In particular, these types of events could impact our merchandise supply chain, including our ability to ship merchandise to customers from or to the impacted region, and could impact our ability or the ability of third parties to operate our sites and ship merchandise. In addition, these types of events could negatively impact consumer spending in the impacted regions. To the extent any of these events occur, our business and operating results could be adversely affected.

***Our business, operating results and growth rates may be adversely affected by current or future unfavorable economic and market conditions and adverse developments with respect to financial institutions and associated liquidity risk.***

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Our business depends on the economic health of the global economies. If the conditions in the global economies remain uncertain or continue to be volatile, or if they deteriorate, including as a result of the impact of military conflicts, such as the war between Russia and Ukraine and the security situation in Israel, terrorism or other geopolitical events, our business, operating results and financial condition may be materially adversely affected. Economic weakness, inflation and increases in interest rates, limited availability of credit, liquidity shortages and constrained capital spending have at times in the past resulted, and may in the future result, in challenging and delayed sales cycles, slower adoption of new technologies and increased price competition, and could negatively affect our ability to forecast future periods, which could result in an inability to satisfy demand for our products and a loss of market share.

In addition, increases in inflation raise our costs for commodities, labor, materials and services and other costs required to grow and operate our business, and failure to secure these on reasonable terms may adversely impact our financial condition. Additionally, increases in inflation, along with the uncertainties surrounding geopolitical developments and global supply chain disruptions, have caused, and may in the future cause, global economic uncertainty and uncertainty about the interest rate environment, which may make it more difficult, costly or dilutive for us to secure additional financing. A failure to adequately respond to these risks could have a material adverse impact on our financial condition, results of operations or cash flows.

While current uncertainty in the global economies, including current military conflicts, such as the war between Russia and Ukraine and the security situation in Israel, did not materially effect our operating results for the 2 years ended December 31, 2024 and the nine months ended September 30, 2025, there can be no assurance that such events, future credit and financial market instability and a deterioration in confidence in economic conditions will not occur. Our general business strategy may be adversely affected by any such economic downturn, liquidity shortages, volatile business environment or continued unpredictable and unstable market conditions. If the current equity and credit markets deteriorate, or if adverse developments are experienced by financial institutions, it may cause short-term liquidity risk and also make any necessary debt or equity financing more difficult, more costly, more onerous with respect to financial and operating covenants and more dilutive. Failure to secure any necessary financing in a timely manner and on favorable terms could have a material adverse effect on our growth strategy, financial performance and stock price and could require us to alter our operating plans. In addition, there is a risk that one or more of our service providers, financial institutions, manufacturers, suppliers and other partners may be adversely affected by the foregoing risks, which could directly affect our ability to attain our operating goals on schedule and on budget.

**Risks Related to Our Pest Control Business Operations**

***We will need to expand its organization and as such we may experience difficulties in recruiting needed additional employees and consultants, which could disrupt its operations.***

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As our development and commercialization plans and strategies develop and because we are so leanly staffed, we will need additional managerial, operational, sales, marketing, financial, legal and other resources. The competition for qualified personnel in the pest control field is intense. Due to this intense competition, we may be unable to attract and retain qualified personnel necessary for the development of our business or to recruit suitable replacement personnel.

Our management may need to divert a disproportionate amount of their attention away from our day-to-day activities and devote a substantial amount of time to managing these growth activities. We may not be able to effectively manage the expansion of our operations, which may result in weaknesses in our infrastructure, operational mistakes, loss of business opportunities, loss of employees and reduced productivity among remaining employees. Our expected growth could require significant capital expenditures and may divert financial resources from other projects, such as the sourcing and marketing of additional pest control products. If our management is unable to effectively manage growth, our expenses may increase more than expected, our ability to generate and/or grow revenue could be reduced and we may not be able to implement our business strategy. Our future financial performance and our ability to commercialize pest control products and compete effectively will depend, in part, on our ability to effectively manage any future growth.

***We may not be successful in its efforts to identify, license or market additional pest control products.***

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Although a substantial amount of our effort will focus on the continued marketing and sale of its existing pest control products, the success of our business also depends in part upon our ability to identify, license or discover additional pest control products. Our efforts to source and market additional pest control products may fail for a number of reasons, including but not limited to the following:

● our research or business development methodology or search criteria and process may be unsuccessful in identifying potential pest control products;

● we may not be able or willing to assemble sufficient resources to acquire or discover additional pest control products;

● competitors may develop alternatives that render any new pest control products under consideration by us obsolete or less attractive;

● pest control products that we identify may be covered by third parties' patents or other exclusive rights;

● the market for a pest control product may change during our sourcing of such product so that such a pest control product may become unreasonable to continue to source;

● a potential pest control product may not be capable of being produced in commercial quantities at an acceptable cost, or at all; and

● a pest control product candidate may not be accepted as safe and effective by potential customers or regulators.

If any of these events occur, we may be forced to abandon our efforts to source any given pest control product, or may not be able to identify, license or discover additional pest control product candidates, which would have a material adverse effect on our business and could potentially cause us to cease operations.

***The use of any of our pest control products could result in product liability or similar claims that could be expensive, damage our reputation and harm its business.***

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Our business exposes us to an inherent risk of potential product liability or similar claims. The pest control industry has historically been litigious, and we face financial exposure to pest control product liability or similar claims if the use of any of its products were to cause or contribute to injury or death. There is also the possibility that defects in the design or manufacture of any of our pest control products or the packaging thereof might necessitate a product recall. Although we maintain product liability insurance, the coverage limits of these policies may not be adequate to cover future claims. In the future, we may be unable to maintain product liability insurance on acceptable terms or at reasonable costs and such insurance may not provide us with adequate coverage against potential liabilities. A product liability claim, regardless of merit or ultimate outcome, or any product recall could result in substantial costs to us, damage to our reputation, customer dissatisfaction and frustration and a substantial diversion of management attention. A successful claim brought against us in excess of, or outside of, our insurance coverage could have a material adverse effect on our business, financial condition and results of operations.

***If we fail to comply with environmental, health and safety laws and regulations, we could become subject to fines or penalties or incur costs that could have a material adverse effect on the success of our business.***

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We and our third-party manufacturers' activities involve the controlled storage, use and disposal of hazardous materials, including the components of our pest control products and other hazardous compounds. We and our manufacturers are subject to laws and regulations governing the use, manufacture, storage, handling and disposal of these hazardous materials. In some cases, these hazardous materials and various wastes resulting from their use are stored at the its manufacturers' facilities pending their use and disposal. We cannot eliminate the risk of contamination, which could cause an interruption of our commercialization efforts, research and development efforts, business operations and environmental damage resulting in costly clean-up and liabilities under applicable laws and regulations governing the use, storage, handling and disposal of these materials. Although we believe that the safety procedures utilized by our third-party manufacturers for handling and disposing of these materials generally comply with the standards prescribed by these laws and regulations, we cannot guarantee that this is the case or eliminate the risk of accidental contamination or injury from these materials. In such an event, we may be held liable for any resulting damages and such liability could exceed our resources and applicable authorities may curtail our use of certain materials and/or interrupt our business operations. Furthermore, environmental laws and regulations are complex, change frequently and have tended to become more stringent. We cannot predict the impact of such changes and cannot be certain of its future compliance. We do not currently carry biological or hazardous waste insurance coverage.

***The regulatory approval processes of the EPA and comparable foreign authorities are lengthy, time consuming and inherently unpredictable. If we are ultimately unable to obtain regulatory approval for its pest control products, our business will be substantially harmed.***

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The time required to obtain approval by the EPA and comparable foreign environmental authorities or other applicable regulators is unpredictable, can take a considerable amount of time and depends upon numerous factors. In addition, approval policies and regulations may change over time and may vary among jurisdictions, which may cause delays in the approval or the decision not to approve an application, or the approval status of previously approved products.

This approval process, as well as the unpredictability of changing environmental and other regulations, may result in us failing to obtain regulatory approval to market or sell any of our pest control products in additional markets, or to maintain our approval in existing markets, which would significantly harm our business, results of operations and prospects.

**Risks Related to Third Parties**

***We rely on third parties to manufacture our pest control products. If these third parties do not successfully carry out their contractual duties, meet expected deadlines, provide us with sufficient quantities of its products (or fails to do so at acceptable quality levels or prices) or comply with regulatory requirements, we may not be able to commercialize our products in additional jurisdictions and our business could be substantially harmed.***

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We have relied upon and plan to continue to rely upon third-party manufacturers to manufacture its products. We do not have the infrastructure or capability internally to manufacture, and lacks the resources and the capability to manufacture any of our product candidates on commercial scale. We plan to rely on third parties for such supplies. Any significant delay or discontinuity in the supply of these components could considerably delay completion of our manufacturing activities and commercialization activities, which could harm our business and results of operations.

***Risks associated with the suppliers from whom our products are sourced could materially adversely affect our financial performance, as well as its reputation and brand.***

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We depend on our ability to provide our customers with a wide range of products from high quality suppliers in a timely and efficient manner. Our agreements with most of our suppliers do not provide for the long-term availability of merchandise or the continuation of particular pricing practices, nor do they usually restrict such suppliers from selling products to other buyers or directly themselves. There can be no assurance that our current suppliers will continue to seek to sell our products on current terms or that we will be able to establish new or otherwise extend current supply relationships to ensure product acquisitions in a timely and efficient manner and on acceptable commercial terms. Our ability to develop and maintain relationships with reputable suppliers and offer high quality products to its customers is critical to our success. If we are unable to develop and maintain relationships with suppliers that would allow us to offer a sufficient amount and variety of quality products on acceptable commercial termsour ability to satisfy its customers' needs, and therefore its long-term growth prospects, would be materially adversely affected.

We are also unable to predict whether any of the countries in which our suppliers' products are currently manufactured or may be manufactured in the future will be subject to trade restrictions imposed by the Canadian or foreign governments or the likelihood, type or effect of any such restrictions. Any event causing a disruption or delay of imports from suppliers with international manufacturing operations, including the imposition of additional import restrictions, restrictions on the transfer of funds or increased tariffs or quotas, could increase the cost or reduce the supply of merchandise available to customers and materially adversely affect our financial performance as well as its reputation and brand. Our competitors may have greater existing inventory positions and other advantages that may allow them to price more competitively relative to our products. Furthermore, some or all of our suppliers' foreign operations may be adversely affected by political and financial instability, resulting in the disruption of trade from exporting countries, restrictions on the transfer of funds or other trade disruptions. **

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***Our eCommerce operations, including the costs and supply chain, are subject to risks associated with sourcing, importing and warehousing.***

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We source the products it offers from third-party vendors and, as a result, we may be subject to price fluctuations or demand disruptions. Our operating results could be negatively impacted by increases in the prices of its products, and we have no guarantees that prices will not rise. In addition, as we expand into new categories and types of products, we expect that it may not have strong purchasing power in these new areas, which could lead to higher costs than we have historically seen in its current product categories and types. We may not be able to pass increased costs on to customers, which could adversely affect its operating results.

In addition, we cannot guarantee that products received from vendors will be of sufficient quality or free from damage or defects, or that such merchandise will not be damaged during shipping or storage. While we take measures to ensure product quality and avoid damage, including evaluating vendor facilities, operations and product samples, conducting inventory inspections and inspecting returned products, we cannot control merchandise while it is out of its possession or prevent all damage while in its distribution centers. We may incur additional expenses and our reputation could be harmed if current or potential customers believe that our merchandise is not of high quality or may be damaged.

***Our dependence on third parties to provide overseas transportation and domestic distribution services may impact the delivery and quality of our transportation and logistics services, and any disruption to these services could result in a disruption to our business, negative publicity, and a slowdown in the growth of our customer base, materially and adversely affecting our business, financial condition, and results of operations.***

As we do not have our own delivery team and networks, our business depends on the services provided by, and relationships with, various independent third parties, to provide truck services and to report certain events to us, including, but not limited to, shipment status information and freight claims . These third-party logistics service providers may not fulfill their obligations to us, which may prevent us from meeting our commitments to our customers. This reliance also could cause delays in reporting certain events, including recognizing claims. In addition, if we are unable to secure sufficient equipment or other transportation services from third parties to meet our commitments to our customers, our operating results could be materially and adversely affected, and our customers could switch to our competitors temporarily or permanently.

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***Our eCommerce operations rely on data provided by third parties, the loss of which could limit the functionality of its platforms, cause us to invest in the wrong product or disrupt its business.***

We use third party software to determine market trends and what markets to enter into. Our ability to successfully use this software depends on our ability to analyze and utilize data, including search engine results, provided by unaffiliated third parties, primarily, Google and Amazon. Some of this data is provided to us pursuant to third-party data sharing policies and terms of use, under data sharing agreements by third-party providers or by customer consent. The majority of this data is sourced for free or for de minimis amounts. These sources of data allow us, along with artificial intelligence tools, to determine trends, performance and consumer sentiment on products and searches within eCommerce platforms. This functionality allows us to help determine which products to market, in some cases manufacture through contract manufacturers, import and sell on Amazon or other eCommerce marketplaces.

In the future, any of these third parties could change their data sharing policies, including making them more restrictive, charging fees or altering their algorithms that determine the placement, display and accessibility of search results and social media updates, any of which could result in the loss of, or significant impairment to, our ability to collect useful data. These third parties could also interpret our data collection policies or practices as being inconsistent with their policies, which could result in the loss of the ability to collect this data. Privacy concerns may cause end users to resist providing the personal data necessary to allow us to determine market trends as well as its ability to effectively retain existing customers. Privacy advocacy groups and the technology and other industries are considering various new, additional or different self-regulatory standards that may place additional burdens on Amazon and us. Any such changes could impair our and Amazon's ability to use data and could adversely impact select functionality of the Amazon Marketplace or our websites, impairing our ability to use this data to anticipate customer demand and market trends, as well as adversely affecting its business and its ability to generate revenue.

***Our failure or the failure of third parties to protect our sites, networks and systems against security breaches, or otherwise to protect our confidential information and practices, could damage our reputation and brands and substantially harm our business and operating results.***

We collect, maintain, transmit and store data about our customers, brands and others, including personally identifiable information, as well as other confidential information. We also engage third parties that store, process and transmit these types of information on our behalf. We rely on encryption and authentication technology licensed from third parties in an effort to securely transmit confidential and sensitive information, including credit card numbers. Advances in computer capabilities, new technological discoveries or other developments may result in the whole or partial failure of this technology to protect transaction data or other confidential and sensitive information from being breached or compromised. In addition, our brand's e-commerce websites are often attacked through compromised credentials, including those obtained through phishing and credential stuffing. Our security measures, and those of our third-party service providers, may not detect or prevent all attempts to breach our systems, denial-of-service attacks, viruses, malicious software, break-ins, phishing attacks, social engineering, security breaches or other attacks and similar disruptions that may jeopardize the security of information stored in or transmitted by our websites, networks and systems or that we or such third parties otherwise maintain, including payment card systems, which may subject us to fines or higher transaction fees or limit or terminate our access to certain payment methods. We and such third parties may not anticipate or prevent all types of attacks until after they have already been launched. Further, techniques used to obtain unauthorized access to sabotage systems change frequently and may not be known until launched against us or our third-party service providers. In addition, security breaches can occur as a result of non-technical issues, including intentional or inadvertent breaches by our employees or by third parties. These risks may increase over time as the complexity and number of technical systems and applications we use also increases.

Breaches of our security measures or those of our third-party service providers or cyber security incidents could result in unauthorized access to our sites, networks, systems and accounts; unauthorized access to, and misappropriation of, consumer information, including customers' personally identifiable information, or other confidential or proprietary information of ourselves or third parties; viruses, worms, spyware or other malware being served from our sites, networks or systems; deletion or modification of content or the display of unauthorized content on our sites; interruption, disruption or malfunction of operations; costs relating to breach remediation, deployment of additional personnel and protection technologies, response to governmental investigations and media inquiries and coverage; engagement of third-party experts and consultants; or litigation, regulatory action and other potential liabilities. In the past, we have experienced social engineering, phishing, malware and similar attacks and threats of denial-of-service attacks; however, such attacks could in the future have a material adverse effect on our operations. If any of these breaches of security should occur, our reputation and brand could be damaged, our business may suffer, we could be required to expend significant capital and other resources to alleviate problems caused by such breaches, and we could be exposed to a risk of loss, litigation or regulatory action and possible liability. We cannot guarantee that recovery protocols and backup systems will be sufficient to prevent data loss. Actual or anticipated attacks may cause us to incur increasing costs, including costs to deploy additional personnel and protection technologies, train employees and engage third-party experts and consultants.

We may experience periodic system interruptions from time to time. In addition, continued growth in our transaction volume, as well as surges in online traffic and orders associated with promotional activities or seasonal trends in our business, place additional demands on our marketplace platforms and could cause or exacerbate slowdowns or interruptions. If there is a substantial increase in the volume of traffic on our sites or the number of orders placed by customers, we will be required to further expand and upgrade our technology, transaction processing systems and network infrastructure. There can be no assurance that we will be able to accurately project the rate or timing of increases, if any, in the use of our sites or expand and upgrade our systems and infrastructure to accommodate such increases on a timely basis. In order to remain competitive, we must continue to enhance and improve the responsiveness, functionality and features of our sites, which is particularly challenging given the rapid rate at which new technologies, customer preferences and expectations and industry standards and practices are evolving in the e-commerce industry. Accordingly, we redesign and enhance various functions on our sites on a regular basis, and we may experience instability and performance issues as a result of these changes. Our disaster recovery plan may be inadequate, and our business interruption insurance may not be sufficient to compensate us for the losses that could occur.

Any compromise or breach of our security measures, or those of our third-party service providers, could violate applicable privacy, data protection, data security, network and information systems security and other laws and cause significant legal and financial exposure, adverse publicity and a loss of confidence in our security measures, which could have a material adverse effect on our business, results of operations, financial condition and prospects. We continue to devote significant resources to protect against security breaches, or we may need to devote significant resources in the future to address problems caused by breaches, including notifying affected subscribers and responding to any resulting litigation, which in turn, diverts resources from the growth and expansion of our business. To date, we are not aware of any material compromises or breaches of our networks or systems.

**Risks Related to our Intellectual Property**

***Third-party claims of intellectual property infringement may prevent or delay our development and commercialization efforts.***

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Our commercial success depends in part on us avoiding infringement of the patents and proprietary rights of third parties. As the we rely on third party manufacturers to source its products, if such manufacturers infringe on an existing patent, we may be unaware until a patent infringement claim is made. Numerous U.S. and foreign issued patents and pending patent applications, which are owned by third parties, exist in the pest control industry. As the industry that we operate in expand and more patents are issued, the risk increases that our products may be subject to claims of infringement of the patent rights of third parties.

Third parties may assert that we are employing their proprietary technology without authorization. There may be third-party patents or patent applications with claims to materials, designs or methods of manufacture related to the use or manufacture of our pest control products. There may be currently pending patent applications that may later result in issued patents that our product candidates may infringe. In addition, third parties may obtain patents in the future and claim that use of our technologies infringes upon these patents.

If any third-party patents were held by a court of competent jurisdiction to cover aspects of our products, processes for designs, or methods of use, the holders of any such patents may be able to block our ability to commercialize the applicable products unless we obtain a license or until such patent expires or is finally determined to be invalid or unenforceable. In either case, such a license may not be available on commercially reasonable terms or at all.

Parties making claims against us may obtain injunctive or other equitable relief, against us or one of our manufacturing partners, which could effectively block our ability to further commercialize one or more of our products. Defense of these claims, regardless of their merit, would involve substantial litigation expense and would be a substantial diversion of resources from our business, if we chose to defend such claims. In the event of a successful claim of infringement against us in the U.S. or any other relevant jurisdiction, we may have to pay substantial damages, including treble damages and attorneys' fees for willful infringement, pay royalties, or obtain one or more licenses from third parties, which may be impossible or require substantial time and monetary expenditure.

***We may be involved in lawsuits to protect or enforce our intellectual property, which could be expensive, time consuming, and unsuccessful.***

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Competitors may infringe on our intellectual property. If we were to initiate legal proceedings against a third party to enforce a trademark covering one of our brands, the defendant could counterclaim that the trademark covering our brand candidate is invalid and/or unenforceable. In trademark litigation, defendant counterclaims alleging invalidity and/or unenforceability are commonplace. Grounds for a validity challenge could be an alleged failure to meet any of several statutory or other legal requirements, including lack of distinctiveness. The outcome following legal assertions of invalidity and unenforceability is unpredictable.

Furthermore, because of the substantial amount of discovery required in connection with intellectual property litigation, there is a risk that some of our confidential information could be compromised by disclosure during this type of litigation. There could also be public announcements of the results of hearings, motions, or other interim proceedings or developments. If securities analysts or investors perceive these results to be negative, it could have a material adverse effect on the price of our common shares.

***We may not be able to protect our intellectual property rights throughout the world.***

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Filing, registering, and defending trademarks on brands, as well as monitoring their infringement in all relevant jurisdictions throughout the world would be prohibitively expensive, and our intellectual property rights in some countries can be less extensive. In addition, the laws of some foreign countries do not protect intellectual property rights to the same extent as the U.K. and European Union.

Competitors may use our trademarks in jurisdictions where we have not obtained protection and may also export products with infringing branding to territories where we have trademark protection, but enforcement is not strong. These products may compete with our products. Future trademarks or other intellectual property rights may not be effective or sufficient to prevent them from competing.

Many companies have encountered significant problems in protecting and defending intellectual property rights in foreign jurisdictions. The legal systems of certain countries, particularly certain developing countries, do not favor the enforcement of trademarks and other intellectual property protection, which could make it difficult for us to stop the marketing of competing products in violation of our proprietary rights generally. Proceedings to enforce our intellectual property rights in foreign jurisdictions, whether or not successful, could result in substantial costs and divert our efforts and attention from other aspects of its business and could provoke third parties to assert claims against us. We may not prevail in any lawsuits that it initiates and the damages or other remedies awarded, if any, may not be commercially meaningful. Accordingly, our efforts to monitor and enforce its intellectual property rights around the world may be inadequate to obtain a significant commercial advantage from the intellectual property that the we develop or license.

***The inability to acquire, use or maintain our trademarks and domain names for our sites could substantially harm our business and operating results.***

We currently have registered trademarks for its brands in the U.K. and has registered the Internet domain names for its websites, as well as various related domain names. However, we have not registered its trademarks or domain names in all major international jurisdictions. Domain names generally are regulated by Internet regulatory bodies. If we do not have, or cannot obtain on reasonable terms, the ability to use its marks in a particular country or to use or register any of its domain names, we could be forced either to incur significant additional expenses to market its products within that country, including the development of a new brand and the creation of new promotional materials and packaging, or to elect not to sell products in that country. Either result could materially adversely affect our business, financial condition and operating results.

Furthermore, the regulations governing domain names and laws protecting marks and similar proprietary rights could change in ways that block or interfere with our ability to use relevant domains or its current brand names. Furthermore, we might not be able to prevent third parties from registering, using or retaining domain names that interfere with its consumer communications or infringe or otherwise decrease the value of its marks, domain names and other proprietary rights. Regulatory bodies also may establish additional generic or country-code top-level domains or may allow modifications of the requirements for registering, holding or using domain names. As a result, we may not be able to register, use or maintain certain domain names that utilize the in all of the countries in which we currently conduct or intend to conduct business.

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***Assertions by third parties of infringement or misappropriation by us of their intellectual property rights or confidential know how could result in significant costs and substantially harm our business and results of operations.***

Our business relies on sophisticated and experienced use and know-how of Amazon's AI market tracker. Third parties may in the future assert that we have infringed or misappropriated their trademarks, copyrights, confidential know how, trade secrets, patents or other intellectual property rights. We cannot predict whether any such assertions or claims arising from such assertions will substantially harm our business and results of operations, whether or not they are successful. If we are forced to defend against any infringement or other claims relating to the trademarks, copyright, confidential know how, trade secrets, patents or other intellectual property rights of third parties, whether they are with or without merit or are determined in our favor, we may face costly litigation or diversion of technical and management personnel. Furthermore, the outcome of a dispute may be that we would need to cease use of some portion of our systems. Any such assertions or litigation could materially adversely affect our business, results of operations, financial condition and prospects.

The e-commerce industry is characterized by vigorous protection and pursuit of intellectual property rights, which has resulted in protracted and expensive litigation for many companies. Some companies, including some of our competitors, own large numbers of patents, copyrights and trademarks, which they may use to assert claims against us. In addition, because patent applications can take years to issue and are often afforded confidentiality for some period of time, there may currently be pending applications, unknown to us, that later result in issued patents that could cover one or more of the technologies we use.

Certain third parties have substantially greater resources than we have and may be able to sustain the costs of intellectual property litigation for longer periods of time than we can. Even if we were to prevail in such a dispute, any litigation regarding the way we operate and utilize our technologies, could be costly and time-consuming and divert the attention of our management and key personnel from our business operations.

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***Intellectual property rights do not necessarily address all potential threats.***

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The degree of future protection afforded by our intellectual property rights is uncertain because intellectual property rights have limitations and may not adequately protect our business or permit us to maintain our competitive advantage. For example:

● others may be able to make products that are similar to us or utilize similar technology but that are not covered by the claims of the patents that we own or may license in the future;

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● others may independently develop similar or alternative technologies or duplicate any of our technologies without infringing our intellectual property rights;

● any issued patent that we own or license in the future may be held invalid or unenforceable, including as a result of legal challenges by our competitors or other third parties;

● others may have access to the same intellectual property rights licensed to us in the future on a non-exclusive basis;

● our competitors or other third parties might conduct research and development activities in countries where we or our licensors do not have patent rights and then use the information learned from such activities to develop competitive products for sale in our major commercial markets;

● we may fail to identify potential patentable subject matter and/or may fail to file on it;

● the patents or other intellectual property rights of others may harm our business; and

● we may choose not to file for patent protection in order to maintain certain trade secrets or know-how, and a third party may subsequently file a patent application covering such intellectual property or disclose information resulting in a loss of protection for such trade secret.

Should any of the foregoing occur, it could adversely affect our business, financial condition, results of operations, and prospects.

**Risks Related to Commercialization of our Pest Control Products**

***If the market opportunities for our existing or future pest control products are smaller than we believe they are, our revenue may be adversely affected, and its business may suffer.***

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Our expectations around demand for our products in jurisdictions where our products are currently sold and potential future jurisdictions, while based on the reasonable beliefs of management, may prove to overestimate actual demand now or in the future. Many factors influencing demand for our products, such as rates of pest infestation and the number of competitors in the pest control market, are not in our control. Due to the nature of our products, which are primarily aimed at pest control, many of our customers may prove to be one-time customers that never make repeat purchases from us as pest infestations may not be experienced frequently, or at all, by such customers in the future. The sale of our products via the Amazon Marketplace also increases the chance of individual consumers purchasing our products, rather than businesses with a recurring business need, which may further lower the number of repeat customers purchasing our products. New customers may become increasingly difficult to identify or gain access to, which would adversely affect our results of operations and its business.

***We face intense competition and the possibility that its competitors may source, develop or commercialize pest control products that are similar, more advanced or more effective than our products, which may adversely affect our financial condition and our ability to successfully commercialize our products.***

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The pest control industry is highly competitive. There are many pest control companies, ranging from large public companies focused on agricultural scale pest control to small private companies offering pest control products and services to local communities.

More established companies, especially in the context of us entering new markets, may have a competitive advantage over us due to their greater size, cash flows, brand recognition, and marketing capabilities. Compared to us, many of our competitors may have significantly greater financial, technical and human resources, or have a closer connection to communities where their pest control products or services are offered. As a result of these factors, our competitors may have an advantage in marketing their products and/or services and may obtain regulatory approval of their products in new jurisdictions before are able to, which may limit our ability to commercialize our products in new jurisdictions. Our competitors may also source or develop pest control products that are safer, more effective, more widely used and/or less expensive than our products, and may also be more successful than us in sourcing and marketing their products. These advantages could materially impact our ability to develop and commercialize our product candidates successfully.

***Any significant disruption in service on our websites or in our computer systems, a number of which are currently hosted or provided by third-party providers, could materially affect our ability to operate, damage our reputation and result in a loss of customers, which would harm our business and results of operations.***

Our ability to sell and market our products relies on FBA platform whose functionality relies upon a number of third-party related services, including those relating to cloud infrastructure, technology services, servers, open-source libraries and vendor APIs. Any disruption or loss of any of these third-party services could have a negative effect on our business, results of operations, financial condition and prospects. We may experience interruptions in our systems, including server failures that temporarily slow down or interfere with the performance of our platforms and the ability to sell on e-commerce marketplaces.

Interruptions in these systems, whether due to system failures, human input errors, computer viruses or physical or electronic break-ins, and denial-of-service attacks on us, third-party vendors or communications infrastructure, could affect the availability of our services on our platform and prevent or inhibit the ability of selling our products. Volume of traffic and activity on e-commerce marketplaces spikes on certain days, such as during a Black Friday promotion, and any such interruption would be particularly problematic if it were to occur at such a high-volume time. Problems with the reliability of our systems or third-party marketplaces could prevent us from earning revenue and could harm our reputation. Damage to our reputation, any resulting loss of customers, e-commerce confidence and the cost of remedying these problems could negatively affect our business, results of operations, financial condition and prospects.

Our ability to maintain communications, network and computer hardware in the countries in which they are used may in the future be subject to regulatory review and licensing, and the failure to obtain any required licenses could negatively affect our business. Our systems and infrastructure are predominately reliant on third parties. Problems faced by our third-party service providers with the telecommunications network providers with whom they contract or with the systems by which they allocate capacity among their users, including us, could adversely affect the experience of our customers. Our third-party service providers could decide to close their facilities without adequate notice. Any financial difficulties, such as bankruptcy or reorganization, faced by our third-party service providers or any of the service providers with whom they contract may have negative effects on our business, the nature and extent of which are difficult to predict. If our third-party service providers are unable to keep up with our needs for capacity, this could have an adverse effect on our business. Any errors, defects, disruptions or other performance problems with our services could harm our reputation and may have a material adverse effect on our business, results of operations, financial condition and prospects.

***Our eCommerce operations' efforts to acquire or retain customers, and our efforts to sell new products or increase sales of its existing products, may not be successful, which could prevent us from maintaining or increasing sales and achieving profitability.***

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If we do not successfully promote and sustain its new and/or existing product listings and brands through marketing and other tools, we may fail to maintain or increase our sales and profitability. Promoting and positioning our brands and product listings will depend largely on the success of our marketing efforts, its ability to attract customers cost effectively and its ability to consistently provide a high-quality product and maintain consumer satisfaction. We also use promotions to drive sales, which may not be effective and may adversely affect gross margins. Our investments in marketing may not effectively reach potential customers, potential customers may decide not to buy our products or the spending of customers that purchase from us may not yield the intended return on investment, any of which could negatively affect our financial results. The failure of our marketing activities could also adversely affect our ability to promote our product listings and sell our products, and to develop and maintain relationships with our customers, retailers and brands, which may have a material adverse effect on our business, results of operations, financial condition and prospects.

***Our eCommerce operations are subject to risks related to online payment methods.***

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We accept payments using a variety of methods, including credit card, debit card, and PayPal. For certain payment methods, including credit and debit cards, we pay interchange and other fees, which may increase over time and raise our operating costs and lower profitability. In addition, our credit card and other payment processors could impose receivable holdback or reserve requirements in the future. We rely on third parties to provide payment processing services, including the processing of credit cards and debit cards, and it could disrupt our business if these companies become unwilling or unable to provide these services to us. We are also subject to payment card association operating rules, certification requirements and rules governing electronic funds transfers, which could change or be reinterpreted to make it difficult or impossible for us to comply. If we fail to comply with the rules or requirements of any provider of a payment method that we accept, if the volume of fraud our transactions limits or terminates our rights to use payment methods it currently accepts, or if a data breach occurs relating to our payment systems, we may, among other things, be subject to fines or higher transaction fees and may lose, or face restrictions placed upon, our ability to accept credit card or debit card payments from customers or to facilitate other types of online payments. If any of these events were to occur, our business, financial condition and operating results could be materially adversely affected

***We may not accurately forecast revenues, profitability and appropriately plan our expenses****.*

 

We base current and future expense levels on our operating forecasts and estimates of future income and operating results. Income and operating results are difficult to forecast because they generally depend on the volume and timing of the orders that we receive, which are uncertain. Additionally, our business is affected by general economic and business conditions around the world. A softening in income, whether caused by changes in consumer preferences, a weakening in global economies or inflation, may result in decreased net revenue levels, and we may be unable to adjust our spending in a timely manner to compensate for any unexpected shortfall in income. This inability could cause our income (loss) from operations after tax in a given quarter to be lower or higher than expected. We also make certain assumptions when forecasting the amount of expenses it expects related to our share-based payments, which includes the expected volatility of our share price, and the expected life of equity awards granted. These assumptions are partly based on historical results. If actual results differ from our estimates, our operating results in a given quarter may be lower than expected.

**Risks Related to Legal and Regulatory Matters**

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***We may be subject to general litigation, regulatory disputes and government inquiries.***

As a growing company with expanding operations, we may in the future increasingly face the risk of claims, lawsuits, government investigations and other proceedings involving competition and antitrust, intellectual property, privacy, consumer protection, accessibility claims, securities, tax, labor and employment, commercial disputes, services and other matters. The number and significance of these disputes and inquiries have increased as the political and regulatory landscape changes, and as we have grown larger and expanded in scope and geographic reach, and our services have increased in complexity.

We cannot predict the outcome of such disputes and inquiries with certainty. Regardless of the outcome, these can have an adverse impact on us because of legal costs, diversion of management resources and other factors. Determining reserves for any litigation is a complex, fact-intensive process that is subject to judgment calls. It is possible that a resolution of one or more such proceedings could require us to make substantial payments to satisfy judgments, fines or penalties or to settle claims or proceedings, any of which could harm our business. These proceedings could also result in reputational harm, criminal sanctions, consent decrees or orders preventing us from offering certain products or services or requiring a change in our business practices in costly ways or requiring development of non-infringing or otherwise altered products or technologies. Litigation and other claims and regulatory proceedings against us could result in unexpected expenses and liabilities, which could have a material adverse effect on our business, results of operations, financial condition and prospects.

***A failure to comply with current laws, rules and regulations or changes to such laws, rules and regulations and other legal uncertainties may adversely affect our business, financial performance, results of operations or business growth.***

Our business and financial performance could be adversely affected by unfavorable changes in or interpretations of existing laws, rules and regulations or the promulgation of new laws, rules and regulations applicable to us and our businesses, including those relating to the internet and e-commerce, internet advertising and price display, consumer protection, anti-corruption, antitrust and competition, economic and trade sanctions, energy usage and emissions, tax, banking, data security, network and information systems security, data protection and privacy. As a result, regulatory authorities could prevent or temporarily suspend us from carrying on some or all of our activities or otherwise penalize us if our practices were found not to comply with applicable regulatory or licensing requirements or any binding interpretation of such requirements. Unfavorable changes or interpretations could decrease demand for our products or services, limit marketing methods and capabilities, affect our margins, increase costs or subject us to additional liabilities.

For example, there are, and will likely continue to be, an increasing number of laws and regulations pertaining to the internet and e-commerce that may relate to liability for information retrieved from or transmitted over the internet, display of certain taxes and fees, online editorial and consumer-generated content, user privacy, data security, network and information systems security, behavioral targeting and online advertising, taxation, liability for third-party activities and the quality of services. Furthermore, the growth and development of e-commerce may prompt calls for more stringent consumer protection laws and more aggressive enforcement efforts, which may impose additional burdens on online businesses generally.

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***If our products experience any recalls, product liability claims, or government, customer or consumer concerns about product safety, our reputation and operating results could be harmed.***

Our products are subject to regulation by international regulatory authorities, and could be subject to involuntary recalls and other actions by these authorities. Concerns about product safety, including concerns about the safety of products manufactured in developing countries, could lead us to recall selected products. Recalls and government, customer or consumer concerns about product safety could harm our reputation and reduce sales, either of which could have a material adverse effect on our business, results of operations, financial condition and prospects.

We may also be subject to product liability claims if people or property are harmed by the products we sell. Some of the products we sell may expose us to product liability claims and litigation (including class actions) or regulatory action relating to safety, personal injury, death or environmental or property damage.

Although we maintain liability insurance, we cannot be certain that our coverage will be adequate for liabilities actually incurred or that insurance will continue to be available to us on economically reasonable terms, or at all. Some of our agreements with members of our supply chain may not indemnify us from product liability claims for a particular product, and some members of our supply chain may not have sufficient resources or insurance to satisfy their indemnity and defense obligations.

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***Any failure by us or our vendors to comply with product safety, labor or other laws, or our standard vendor terms and conditions, or to provide safe factory conditions for our or their workers may damage our reputation and brand and harm our business.***

The products we sell to our customers are subject to regulation by international regulatory authorities. As a result, such products could be in the future subject to recalls and other remedial actions. Product safety, labeling and licensing concerns may require us to voluntarily remove selected merchandise from our inventory. Such recalls or voluntary removal of merchandise can result in, among other things, suspension of our seller accounts on Amazon and other online marketplaces, lost sales, diverted resources, potential harm to our reputation and increased client service costs and legal expenses, which could have a material adverse effect on our operating results.

Some of the products we sell may expose us to product liability claims and litigation or regulatory action relating to personal injury or environmental or property damage. Although we maintain liability insurance and implemented a quality assurance program that includes obtaining necessary certifications, we cannot be certain that our coverage will be adequate for liabilities actually incurred or that insurance will continue to be available to us on economically reasonable terms or at all. In addition, some of our agreements with our vendors may not indemnify us from product liability claims for a particular vendor's products or our vendors may not have sufficient resources or insurance to satisfy their indemnity and defense obligations.

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***We are subject to regulations related to privacy, data protection and information security. If we are unable to comply with these, we may be subject to governmental enforcement actions, litigation, fines and penalties or adverse publicity.***

We collect personally identifiable information and other data from our customers and prospective customers. We collect this info automatically through the automated sales processes with e-commerce marketplaces. We, at times, may use this information to provide, support, expand and improve our business and tailor our digital marketing and advertising efforts.

Our handling of data is subject to a variety of laws and regulations, including regulation by various government agencies and regulators. Our data handling also is subject to industry standards.

Numerous data protection regimes apply based on where a customer is located, and as we expand and new laws are enacted or existing laws change, we may be subject to new laws, regulations or standards or new interpretations of existing laws, regulations or standards, which could require us to incur additional costs and restrict our business operations. Any failure or perceived failure by us to comply with rapidly evolving privacy or security laws, policies (including our own stated privacy policies), legal obligations or industry standards or any security incident that results in the unauthorized release or transfer of personally identifiable information or other consumer data may result in governmental enforcement actions, litigation (including consumer class actions), fines and penalties or adverse publicity and could cause our customers to lose trust in us, which could have a material adverse effect on our business, results of operations, financial condition and prospects.

Due to rapid changes in technology and the inconsistent interpretations of privacy and data collection and protection laws and regulations, we may be required to materially change the way we conduct business. The challenges imposed by the ongoing need to remain compliant with such laws and regulations, as well the need to implement any changes required based on newly introduced laws and regulations, may slow our growth, and if we are not able to cope with these challenges as effectively as other companies, we will be competitively disadvantaged. Amazon collects data of users on their platform and any limitation on their ability to collect and utilize data, including personal data, would make it more difficult for us to be able to optimize sales, which could render our products less valuable and potentially result in loss of revenue.

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***In Europe, where we expanded our business operations as part of our growth, the data privacy and information security regime continues to evolve and is subject to increasing regulatory scrutiny.***

The General Data Protection Regulation, or GDPR, implemented more stringent operational requirements for our use of personal data. These more stringent requirements include expanded disclosures to inform our customers about how we may use their personal data, increased controls on profiling customers and increased rights for customers to access, control and delete their personal data. Under the GDPR, there are mandatory data breach notification requirements and significantly increased penalties of up to the greater of €20 million or 4% of global turnover for the preceding financial year. In addition to fines, a breach of the GDPR may result in regulatory investigations, reputational damage, orders to cease/change our data processing activities, enforcement notices, assessment notices (for a compulsory audit) and/or civil claims (including class actions).

The U.K.'s Network and Information Systems Regulations 2018, or NIS Regulations, which came into force on May 10, 2018, apply to us as an online marketplace and place additional network and information systems security obligations on us, as well as mandatory security incident notification in certain circumstances with penalties of up to £17 million.

In recent years, U.S. and European lawmakers and regulators have expressed concern over the use of third-party cookies and similar technologies for online behavioral advertising, and laws in this area are also under reform. Such regulations may have a negative effect on businesses, including ours, that collect and use online usage information for consumer acquisition and marketing, may increase the cost of operating a business that collects or uses such information and undertakes online marketing, it may also increase regulatory scrutiny and increase potential civil liability under data protection or consumer protection laws.

These regulations result in significant compliance costs and could result in restricting the growth and profitability of our business by impeding the development of new services. We could incur substantial costs to comply with these regulations. The changes could require significant systems changes, limit the effectiveness of our marketing activities, adversely affect our margins, increase costs and subject us to additional liabilities. Also, it could negatively impact the use or adoption of our services, reduce overall demand for our services, make it more difficult for us to meet expectations from or commitments to our clients, lead to significant fines, penalties, or liabilities for noncompliance, or impact our reputation, any of which could harm our business.

Our business is conducted through the internet and therefore, among other things, we are subject to the laws and regulations that apply to e-commerce and online businesses around the world. These laws and regulations are becoming more prevalent in the United States, Europe, Israel, the United Kingdom and elsewhere and may impede the growth of the internet and consequently our services. These regulations and laws may cover privacy, data collection and protection, location of data storage and processing, cybersecurity, e-commerce, content, use of "cookies," access changes, "net neutrality," pricing, advertising, distribution of "spam" copyright and other intellectual property, libel, marketing, distribution of products, protection of minors, consumer protection, and online payment services. We receive, collect, store, process, transfer and use certain data about how viewers and buyers engaged with content and advertisements and helps us to leverage that data to become a better storyteller and maximize sales in different marketplaces. Our ability to access and utilize such data is crucial.

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***Amendments to existing tax laws, rules or regulations or enactment of new unfavorable tax laws, rules or regulations could have an adverse effect on our business and financial performance.***

Many of the laws, rules or regulations imposing taxes and other similar obligations were established before the growth of the internet and e-commerce. Tax authorities in non-U.S. jurisdictions, including Israel, and at the U.S. federal, state and local levels are currently reviewing the appropriate treatment of companies engaged in e-commerce and considering changes to existing tax or other laws that could regulate our transmissions and/or levy sales, income, consumption, use or other taxes relating to our activities, and/or impose obligations on us to collect such taxes. For example, in March 2018, the European Commission proposed new rules for taxing digital business activities in the EU. In addition, state and local taxing authorities in the United States and taxing authorities in other countries have identified e-commerce platforms as a means to calculate, collect and remit indirect taxes for transactions taking place over the internet. Multiple U.S. states have enacted related legislation and other states are now considering such legislation. Furthermore, the U.S. Supreme Court held in *South Dakota v. Wayfair* that a U.S. state may require an online retailer to collect sales taxes imposed by that state, even if the retailer has no physical presence in that state, thus permitting a wider enforcement of such sales tax collection requirements. Such legislation could require us or our retailers and brands to incur substantial costs in order to comply, including costs associated with legal advice, tax calculation, collection, remittance and audit requirements, which could make selling in such markets less attractive and could adversely affect our business. Such legislation could require us or our retailers and brands to incur substantial costs in order to comply, including costs associated with legal advice, tax calculation, collection, remittance and audit requirements, which could make selling in such markets less attractive and could adversely affect our business.

We cannot predict the effect of current attempts to impose taxes on commerce over the internet. If such tax or other laws, rules or regulations were amended, or if new unfavorable laws, rules or regulations were enacted, the results could increase our tax payments or other obligations, prospectively or retrospectively, subject us to interest and penalties, decrease the demand for our products if we pass on such costs to the consumer, result in increased costs to update or expand our technical or administrative infrastructure or effectively limit the scope of our business activities if we decided not to conduct business in particular jurisdictions. As a result, these changes may have a material adverse effect on our business, results of operations, financial condition and prospects.

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***We are subject to anti-corruption, anti-bribery, anti-money laundering and similar laws, and non-compliance with such laws can subject us to criminal penalties or significant fines and harm our business and reputation.***

International regulatory authorities, continue to enforce economic and trade regulations and anti-corruption laws across industries. U.S. trade sanctions relate to transactions with designated foreign countries and territories, including Cuba, Iran, North Korea, Syria and the Crimea region of Ukraine, or Crimea, as well as specifically targeted individuals and entities that are identified on U.S. and other blacklists, and those owned by them or those acting on their behalf.

Anti-corruption laws, including the U.K. Bribery Act, or the Bribery Act, generally prohibit direct or indirect corrupt payments to government officials and, under certain laws, private persons to obtain or retain business or an improper business advantage. Some of our international operations are conducted in parts of the world where it is common to engage in business practices that are prohibited by these laws.

Although we comply with laws and regulations, especially as we expand our operations in existing and new jurisdictions which proportionately adds risks of non-compliance with applicable laws and regulations, our employees, partners or agents could take actions that violate applicable laws or regulations. As regulations continue to develop and regulatory oversight continues to focus on these areas, we cannot ensure compliance at all times with all applicable laws or regulations.

In the event our controls should fail, or we are found to be not in compliance for other reasons, we could be subject to monetary damages, civil and criminal monetary penalties, withdrawal of business licenses or permits, litigation and damage to our reputation and the value of our brand.

As we expand our operations in existing and new jurisdictions internationally, we will need to increase the scope of our compliance programs to address the risks relating to the potential for violations of the Bribery Act and other anti-bribery and anti-corruption laws. Further, the promulgation of new laws, rules and regulations, or the new interpretation of existing laws, rules and regulations, in each case that restrict or otherwise unfavorably impact the ability or manner in which we or our retailers and brands conduct business could require us to change certain aspects of our business, operations and commercial relationships to ensure compliance, which could decrease demand for products or services, reduce net revenue, increase costs or subject us to additional liabilities. Anti-corruption and anti-bribery laws have been enforced aggressively in recent years, are interpreted broadly and prohibit companies and their employees and agents from promising, authorizing, making, offering, soliciting or accepting improper payments or other benefits to or from government officials and others in the private sector. As we increase our international sales and business, particularly in countries with a low score on the Corruptions Perceptions Index by Transparency International and increase our use of third-party business partners such as sales agents, distributors, resellers or consultants, our risks under these laws may increase. Under these laws, we could be held liable for the corrupt or other illegal activities of our employees, representatives, contractors, business partners and agents, even if we do not explicitly authorize or have actual knowledge of such activities. Noncompliance with these laws could subject us to investigations, sanctions, settlements, prosecution, other enforcement actions, disgorgement of profits, significant fines, damages, other civil and criminal penalties or injunctions, suspension or debarment from contracting with certain persons, the loss of export privileges, whistle-blower complaints, reputational harm, adverse media coverage and other collateral consequences. If any subpoenas or investigations are launched, or governmental or other sanctions are imposed, or if we do not prevail in any possible civil or criminal litigation, our business, results of operations and financial condition could be materially harmed. In addition, responding to any action will likely result in a materially significant diversion of management's attention and resources and significant defense and compliance costs and other professional fees.

In certain cases, enforcement authorities may even require us to appoint an independent compliance monitor, which can result in added costs and administrative burdens. Any investigations, actions, sanctions or other previously mentioned harm could have a material negative effect on our business, operating results and financial condition.

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***Even following receipt of any regulatory approval for our pest control products, we will continue to be subject to regulation of our advertising practices.***

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As a seller of pest control products, which include poisonous active ingredients, we are subject to continual government oversight by regulatory authorities. Once we receive regulatory approval in the United States, we will be subject to oversight by the U.S. Environmental Protection Agency, or EPA. The EPA strictly regulates the advertising and promotion of pest control products, and these pest control products may only be marketed or promoted for their EPA approved uses, consistent with the product's approved labeling. Advertising and promotion of any product candidate that obtains approval in the U.S. will be heavily scrutinized by the EPA, other applicable state regulatory agencies and the public. Violations, including promotion of our products for unapproved or off-label uses, are subject to enforcement actions, inquiries and investigations, and civil, criminal and/or administrative sanctions imposed by the EPA.

***Our operations are subject to environmental laws and regulations that may increase costs of operations and impact or limit our business plans.***

We are subject to environmental laws and regulations affecting many aspects of our present and potential future operations, and we will be subject to a wide variety of EPA labeling and other state regulatory agency requirements after we receive regulatory approval in the United States. For example, under the Federal Insecticide, Fungicide, and Rodenticide Act, we will be required to register with the EPA and certain state regulatory authorities as a seller of disinfectants, and we will be subject to EPA labeling requirements. Compliance with these laws and regulations may result in increased costs and delays as a result of administrative proceedings and certain reporting obligations. Public officials and entities may seek injunctive relief or other remedies to enforce applicable environmental laws and regulations. If we are found to not have complied with these laws and are unable to sell our products, our business and financial results will be negatively impacted.

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**Risks Related to our International Operations**

 

***Conditions in Israel may affect our operations.***

Certain of our directors and our chief financial officer are residents of Israel. Accordingly, political, economic, and military conditions in Israel and the surrounding region may directly affect our business and operations.

Since its founding in 1948, Israel has experienced numerous armed conflicts with neighboring states and non-state actors, Hamas (an Islamist militia and political group in the Gaza Strip), Hezbollah (an Islamist militia and political group in Lebanon), and other extremist groups operating from Syria, Iraq, and Yemen. These conflicts have involved rocket attacks, cross-border infiltrations, terrorist incidents, and military operations, which have at times disrupted business activity and created broader economic uncertainty.

In October 2023, Hamas terrorists infiltrated Israel's southern border from the Gaza Strip and conducted a series of attacks on civilian and military targets. Hamas also launched extensive rocket attacks on Israeli population and industrial centers located along Israel's border with the Gaza Strip and in other areas within the State of Israel. Since the commencement of these events, there have been continued hostilities along Israel's northern border with Lebanon (with the Hezbollah terror organization) and on other fronts from various extremist groups in region, such as the Houthis in Yemen and various rebel militia groups in Syria and Iraq. In October 2024, Israel began limited ground operations against Hezbollah in Lebanon, and in November 2024, a ceasefire was brokered between Israel and Hezbollah and in October 2025, a ceasefire was brokered between Israel and Hamas, but there are no guarantees as to whether such agreements will hold or whether further hostilities will resume.

In connection with the October 2023 attacks, Israel mobilized hundreds of thousands of military reservists. Two of our employees were called to active duty, but have since returned to work. Additional or prolonged call-ups involving our personnel, whether in response to past or future conflicts, could disrupt our operations and negatively affect our business and financial performance.

Iran is widely believed to support and coordinate with terrorist groups in the region, including Hamas, Hezbollah, the Houthis in Yemen, and various militias in Syria and Iraq. It is also believed to be advancing a nuclear weapons program, increasing the risk of future conflict. Ongoing or escalated hostilities involving Iran could further destabilize the region and significantly impact Israeli security and economic conditions.

On June 13, 2025, in light of continued nuclear threats and intelligence assessments indicating imminent attacks, Israel launched a preemptive strike directly targeting military and nuclear infrastructure inside Iran, aimed at disrupting Iran's capacity to coordinate or launch further hostilities against Israel, as well as to degrade its nuclear program. In response, Iran launched multiple waves of drones and ballistic missiles at Israeli cities, including Tel Aviv, Haifa, and Jerusalem. While most of these attacks were intercepted, several caused civilian casualties and damage to infrastructure. While a ceasefire was reached in June 2025 following 12 days of hostilities, on February 28, 2026, the United States and Israel launched coordinated military strikes against Iran, including attacks on strategic military infrastructure and leadership targets, with the stated aim of degrading Iran's capacity to conduct or support hostile operations against them. In response, Iran has fired missiles and drones toward population centers and military installations in Israel, Europe and neighboring countries in the Gulf region, and also launched counter-strikes against U.S. forces and allied bases throughout the Gulf region. Continued military escalation, retaliatory actions, or broader regional involvement may adversely affect economic conditions, disrupt markets, and create uncertainty that could negatively impact our business, financial condition and results of operations. A broader regional conflict involving additional state and non-state actors remains a significant risk. Iran is also believed to have a strong influence among extremist groups in the region, such as Hamas in Gaza, Hezbollah in Lebanon, the Houthis in Yemen and various rebel militia groups in Syria and Iraq.

Since the war broke out on October 7, 2023, our operations have not been adversely affected by this situation as our facilities are located overseas and are not exposed to war damage. However, the intensity and duration of the security situation in Israel have been difficult to predict, as were the economic implications on our business and operations and on Israel's economy in general If the war extends for a long period of time or expands to other fronts, our operations may be harmed.

***Exchange rate fluctuations between foreign currencies and the U.S. Dollar may negatively affect our earnings.***

Our reporting and functional currency is the U.S. dollar. Our revenues are currently primarily payable in GBP and we expect our future revenues to be equally divided between GBP and U.S. Dollar. However, most of our expenses are also in U.S. Dollar, NIS and some in Euro. As a result, we are exposed to the currency fluctuation risks relating to the recording of our expenses in U.S. dollars.

As we will operate in or currently operates in various other countries, the revenue received by us will be materially affected by fluctuations in exchange rates. In recent years, the Canadian dollar has, at times, increased materially in value against other currencies. Material increases in the value of the Canadian dollar negatively impact our revenues. Future exchange rates could accordingly impact the future value of our operations.

To the extent that we engage in risk management activities related to foreign exchange rates, there is a credit risk associated with counterparties with we may contract. An increase in interest rates could result in a significant increase in the amount that we pay to service debt, which could negatively impact the market price of our securities.

**Risks Related to Our Status as a Public Company and Ownership of our Common Shares**

***Our executive officers, directors and principal shareholders will maintain the ability to exert significant control over matters submitted to our shareholders for approval.***

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Upon the effectiveness of the listing of our common shares on Nasdaq, our executive officers, directors and principal shareholders who own more than 5% of our outstanding common shares, in the aggregate, will beneficially own shares representing approximately 76.18% of our share capital. As a result, if these shareholders were to act together, they would be able to exert significant influence over all matters submitted to our shareholders for approval (including a prospective acquisition or other change of control of our company), as well as our management and affairs.

In addition, Jeffs' Brands Ltd., beneficially owns or controls, or will beneficially own or control, directly or indirectly, (A) 10,558,832 common shares consisting of (i) 8,129,372 common shares currently held, (ii) 1,571,429 common shares issuable upon the effectiveness of the listing of our common shares on Nasdaq representing contingent right shares pursuant to the Share Purchase Agreement in connection with the Acquisition and (iii) 858,031 common shares issuable upon the automatic conversion of August 2025 Convertible Debentures (as defined below) immediately following the effectiveness of the listing of our common shares on Nasdaq, which in the aggregate will represent approximately 70.94% of our share capital on a non-diluted basis and (B) 14,559,721 common shares (assuming the issuance of common shares upon the conversion of the additional 3,142,858 contingent right shares and 858,031 common shares issuable upon the exercise of warrants that are issuable upon the automatic conversion of August 2025 Convertible Debentures (as defined below) immediately following the effectiveness of the listing of our common shares on Nasdaq), which in the aggregate represents approximately 71.74% of our share capital on a fully-diluted basis. In connection with the Company's acquisition of Fort UK in July 2025, which was a qualifying transaction under the policies of the TSXV, at the request of the TSXV, Jeffs' Brands undertook not to acquire, exercise or convert securities currently held to the extent (but only to the extent) that, after giving effect to such acquisition, exercise or conversion (as applicable), Jeffs' Brands would, directly or indirectly, own in excess of 80% of our outstanding common shares. As a result, Jeffs' Brands will have the ability to control all matters submitted to holders of our common shares for approval, including without limitation the election and removal of directors, amendments to articles of incorporation and by-laws and the approval of any business combination. This may delay or prevent an acquisition of the Company or cause the market price of our common shares to decline. While the rights of minority shareholders would be protected in Canada, civil judgments rendered against us and/or our subsidiaries in Canada may be enforced in Israel by an Israeli court subject to specified time limitations, legal procedures and other specific conditions.

***There has been no prior public market in the United States for our common shares, and an active trading market in the United States may not develop.***

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Prior to the anticipated listing of our common shares on Nasdaq, our common shares have traded only on the TSX Venture Exchange and there has been no public market in the U.S. for our common shares. There can be no assurance that our application to list our common shares on Nasdaq will be approved, or that an active trading market in the U.S. will develop or, if developed, that it will be sustained. The lack of an active market may impair your ability to sell your shares at the time you wish to sell them or at a price that you consider reasonable. An inactive market may also impair our ability to raise capital by selling shares and may impair our ability to acquire other companies or technologies by using our common shares as consideration. The lack of an active trading market may also reduce the fair value of your shares. When our common shares commence trading on Nasdaq, we expect the initial listing price of our common shares to likely be based on the current trading price of our common shares on the TSX Venture Exchange. However, we cannot predict the price at which our common shares will trade and cannot guarantee that investors can sell their shares at any particular price. There is no assurance that an active and liquid trading market for our common shares will develop or be sustained in the United States or maintained in Canada.

***Our securities will be traded on more than one market or exchange and this may result in price variations.***

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Following the Acquisition, our common shares resumed trading on the TSX Venture Exchange on July 10, 2025. Assuming that our common shares are listed for trading on the Nasdaq, trading in our common shares will take place in different currencies (U.S. dollars on the Nasdaq and CAD on the TSX Venture Exchange), and at different times (resulting from different time trading days, and public holidays in the United States and Canada). The trading prices of our securities on these two markets may differ due to these and other factors. Any decrease in the price of our common shares on the TSX Venture Exchange could cause a decrease in the trading price of our common shares on the Nasdaq.

***If our existing shareholders sell common shares, either on the TSX Venture Exchange or Nasdaq, after our anticipated listing, the market price of our common shares could decline.***

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The sale of substantial amounts of our common shares in the public market, or the perception that such sales could occur, could harm the prevailing market price of our common shares on the TSX Venture Exchange or Nasdaq. These sales, or the perception that these sales could occur, also might make it more difficult for us to sell equity securities in the future at a time and at a price that we deem appropriate. As of March 2, 2026, we have a total of 11,362,318 common shares outstanding. In addition, 1,949,794 common shares and warrants to purchase 1,949,794 common shares will be issued upon the automatic conversion of August 2025 Convertible Debentures (as defined below) immediately following the effectiveness of the listing of our common shares on Nasdaq. In addition, upon the effectiveness of the listing of our common shares on Nasdaq. 1,571,429 common shares, representing contingent right shares pursuant to the Share Purchase Agreement will be issued to Jeffs' Brands as the achievement of one of the milestones. All of our outstanding shares will be freely tradable without restriction or further registration under the Securities Act, except that any shares held by our affiliates may be sold only in compliance with Rule 144 of the Securities Act and, as required pursuant to the policies of the TSXV, in connection with the Acquisition, a total of 6,428,571 common shares and 4,714,287 contingent right shares held by certain shareholders at the time of the Acquisition, or Escrowed Securities, are subject to escrow, 10% of the Escrow Securities being released on the date of closing of the Acquisition and with the balance of the Escrow Securities to be released in equal 15% installments every six months over the following three years. In addition to the escrow in connection with the Acquisition, an aggregate of 342,857 common shares and 41,428 stock options are held under escrow pursuant to an escrow agreement dated December 21, 2021, or CPC Escrow Agreement, which was entered into by the Company in connection with its initial public offering on the TSXV. Pursuant to the CPC Escrow Agreement, 25% of the securities were, or will be, released on each of July 8, 2025, January 8, 2026, July 8, 2026, and January 8, 2027.

We intend to file one or more registration statements on Form S-8 under the Securities Act to register our common shares or securities convertible into or exchangeable for our common shares issued pursuant to our equity incentive plans. The common shares registered under such registration statements will be available for sale in the open market. We expect that the initial registration statement on Form S-8 will cover approximately common shares.

As restrictions on resale end, the market price of our common shares could drop significantly if the holders of these restricted shares sell them or are perceived by the market as intending to sell them. These factors could also make it more difficult for us to raise additional funds through future offerings of our common shares or other securities.

***Issuance of a significant amount of additional common shares on exercise or conversion of outstanding warrants and/or substantial future sales of our common shares may depress our share price.***

The issuance of a significant amount of additional common shares on account of outstanding warrants will dilute our current shareholders' holdings and may depress our share price. If these or other shareholders sell substantial amounts of our common shares, including shares issuable upon the exercise or conversion of outstanding warrants or employee options, or if the perception exists that our shareholders may sell a substantial number of our common shares, we cannot foresee the impact of any potential sales on the market price of these additional common shares, but it is possible that the market price of our common shares would be adversely affected. Any substantial sales of our shares in the public market might also make it more difficult for us to sell equity or equity related securities in the future at a time and on terms we deem appropriate. Even if a substantial number of sales do not occur, the mere existence of this "market overhang" could have a negative impact on the market for, and the market price of, our common shares.

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***Failure to achieve and maintain effective internal controls in accordance with Section 404 of the Sarbanes-Oxley Act could have a material adverse effect on our business, results of operation or financial condition. In addition, current and potential shareholders could lose confidence in our financial reporting, which could have a material adverse effect on the price of our common shares.***

Effective internal controls are necessary for us to provide reliable financial reports and effectively prevent fraud. We are required to document and test our internal control procedures in order to satisfy the requirements of Section 404 of the Sarbanes-Oxley Act, which requires annual management assessments of the effectiveness of our internal control over financial reporting. In addition, if we fail to maintain the adequacy of our internal control, as such standards are modified, supplemented or amended from time to time, we may not be able to ensure that we can conclude on an ongoing basis that we have effective internal control over financial reporting in accordance with Section 404. Disclosing deficiencies or weaknesses in our internal control, failing to remediate these deficiencies or weaknesses in a timely fashion or failing to achieve and maintain an effective internal control environment may cause investors to lose confidence in our reported financial information, which could have a material adverse effect on the price of our common shares. If we cannot provide reliable financial reports or prevent fraud, our operating results could be harmed

***The estimates of market opportunity, market size and forecasts of market growth included in this registration statement and our other publicly filed documents may prove to be inaccurate, and even if the market in which we compete achieves the forecasted growth, our business could fail to grow at similar rates, if at all.***

Market opportunity, size estimates and growth forecasts included in this registration statement and our other publicly filed documents are subject to significant uncertainty and are based on assumptions and estimates that may not prove to be accurate. For example, several of the reports and data on which our estimates and forecasts are based rely on projections of consumer adoption and incorporate data from secondary sources, such as company websites as well as industry, trade and government publications.

Net revenue and operating results are difficult to forecast because they generally depend on the volume, timing and type of orders we receive, all of which are uncertain. We base our expense levels and investment plans on our estimates of total net revenue and gross margins using human judgment and utilizing internal analytic methodologies to assess market trends. We cannot be sure the same growth rates, trends and other key performance metrics are meaningful predictors of future growth. If our assumptions and calculations prove to be wrong, we may spend more than we anticipate acquiring and retaining customers or may generate less net revenue per active customer than anticipated, any of which could have a negative impact on our business and results of operations.

In addition, as we enter new consumer product markets in the future, we may initially provide discounts to customers to gain market traction, and the amount and effect of these discounts may vary greatly. No such discounts have been given to date.

Finally, we are evaluating our total addressable market with respect to new product offerings and new markets. These estimates of total addressable market and growth forecasts are subject to significant uncertainty, are based on assumptions and estimates that may not prove to be accurate and are based on data published by third parties that we have not independently verified. Even if the market in which we compete meets the size estimates and growth forecasted in this registration statement, our business could fail to grow at similar rates, if at all.

Our business is also affected by general economic and business conditions in international markets.

***As a foreign private issuer, we are permitted, and intend, to follow certain home country corporate governance practices instead of otherwise applicable Nasdaq requirements, and we will not be subject to certain U.S. securities laws including, but not limited to, U.S. proxy rules and the filing of certain Exchange Act reports.***

As a foreign private issuer, we are permitted, and intend, to follow certain home country corporate governance practices instead of those otherwise required by the Nasdaq Stock Market for domestic U.S. issuers. Following our home country governance practices as opposed to the requirements that would otherwise apply to a U.S. company listed on The Nasdaq Global Market may provide less protection to you than what is accorded to investors under the listing rules of Nasdaq applicable to domestic U.S. issuers.

As a foreign private issuer, we will be exempt from the rules and regulations under the Securities Exchange Act of 1934, or the Exchange Act, related to the furnishing and content of proxy statements, including the applicable compensation disclosure requirements. Nevertheless, pursuant to regulations promulgated under Canadian Securities Administrators National Instrument 51-102 "Continuous Disclosure Obligations", or the Instrument, we are required to disclose in the context of sending an information circular to shareholders all compensation paid, payable, awarded, granted, given or otherwise provided, directly or indirectly, by the issuer, or a subsidiary of the issuer, to each Named Executive Officer (as such term is defined in the Instrument) and director, in any capacity, including, for greater certainty, all plan and non-plan compensation, direct and indirect pay, remuneration, economic or financial award, reward, benefit, gift or perquisite paid, payable, awarded, granted, given, or otherwise provided to the NEO or director for services provided, directly or indirectly, to the issuer or a subsidiary of the issuer. Such disclosure will not be as extensive as that required of a U.S. domestic issuer. Section 8103 of the National Defense Authorization Act for Fiscal Year 2026, named the "Holding Foreign Insiders Accountable Act", which was signed into law on December 18, 2025, will require directors and officers of foreign private issuers to make insider reports under *Section 16*(a) of the Exchange Act, effective March 18, 2026. Our principal shareholders continue to remain exempt from the reporting under Section 16(a) of the Exchange Act and our directors, officers and principal shareholders continue to remain exempt from the short-swing profit recovery provisions contained in Section 16(b) of the Exchange Act. In addition, we will not be required under the Exchange Act to file reports and financial statements with the SEC as frequently or as promptly as U.S. domestic companies whose securities are registered under the Exchange Act and we will be exempt from filing quarterly reports with the SEC under the Exchange Act. Moreover, we will not be required to comply with Regulation FD, which restricts the selective disclosure of material information, although we intend to voluntarily adopt a corporate disclosure policy substantially similar to Regulation FD. These exemptions and leniencies will reduce the frequency and scope of information and protections to which you may otherwise have been eligible in relation to a U.S. domestic issuer.

We would lose our foreign private issuer status if a majority of our shares are owned by U.S. residents and a majority of our directors or executive officers are U.S. citizens or residents or we fail to meet additional requirements necessary to avoid loss of foreign private issuer status. The regulatory and compliance costs to us under U.S. securities laws as a U.S. domestic issuer may be significantly higher. If we are not a foreign private issuer, we will be required to file periodic reports and registration statements on U.S. domestic issuer forms with the SEC, which are more detailed and extensive than the forms available to a foreign private issuer. We may also be required to modify certain of our policies to comply with accepted governance practices associated with U.S. domestic issuers. Such conversion and modifications will involve additional costs. In addition, we would lose our ability to rely upon exemptions from certain corporate governance requirements on U.S. stock exchanges that are available to foreign private issuers.

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***We are an "emerging growth company" and we cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make our common shares less attractive to investors.***

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For so long as we remain an "emerging growth company" as defined in the JOBS Act, we may take advantage of certain exemptions from various requirements that are applicable to public companies that are not "emerging growth companies." These provisions include, among other exemptions, that:

● we are not required to engage an auditor to report on our internal controls over financial reporting pursuant to Section 404(b) of the Sarbanes-Oxley Act; and

● to the extent that we no longer qualify as a foreign private issuer, (i) reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements and (ii) exemptions from the requirement to hold a non-binding advisory vote on executive compensation, including golden parachute compensation.

We intend to take advantage of these exemptions until we are no longer an "emerging growth company." We will remain an emerging growth company until the earlier of (1) the last day of the fiscal year (a) following the fifth anniversary of the completion of our first sale of common equity securities pursuant to an effective registration statement under the Securities Act, (b) in which we have total annual gross revenue of at least $1.235 billion, or (c) in which we are deemed to be a large accelerated filer, as defined in the rule under the Exchange Act, and (2) the date on which we have issued more than $1.0 billion in non-convertible debt during the prior three-year period.

We cannot predict if investors will find our common shares less attractive because we may rely on these exemptions. If some investors find our common shares less attractive as a result, there may be a less active trading market for the common shares, and the trading price may be more volatile and may decline.

***The market price of our common shares may be volatile. Market volatility may affect the value of an investment in our common shares and could subject us to litigation.***

The market price of our securities is volatile. The price of our securities is and will continue to be subject to wide fluctuations in response to a variety of factors, including the following:

● actual or anticipated fluctuations in our financial condition and operating results;

● the financial projections we may provide to the public, and any changes in projected operational and financial results;

● addition or loss of significant customers;

● changes in laws or regulations applicable to our products;

● actual or anticipated changes in our growth rate relative to our competitors;

● announcements of technological innovations or new offerings by us or our competitors;

● announcements by us or our competitors of significant acquisitions, strategic partnerships, joint ventures or capital-raising activities or commitments;

● additions or departures of key personnel;

● changes in our financial guidance or securities analysts' estimates of our financial performance;

● discussion of us or our share price by the financial press and in online investor communities;

● reaction to our press releases and filings with the SEC;

● changes in accounting principles;

● lawsuits threatened or filed against us;

● fluctuations in operating performance and the valuation of companies perceived by investors to be comparable to us;

● sales of our common shares by us or our shareholders;

● share price and volume fluctuations attributable to inconsistent trading volume levels of our common shares;

● price and volume fluctuations in the overall stock market, including as a result of trends in the economy as a whole;

● changes in laws or regulations applicable to our business;

● changes in our capital structure, such as future issuances of debt or equity securities;

● short sales, hedging and other derivative transactions involving our shares;

● the expiration of contractual lock-up periods;

● other events or factors, including those resulting from war, incidents of terrorism or responses to these events; and

● general economic and market conditions.

Furthermore, in recent years, the stock markets have experienced extreme price and volume fluctuations that have affected and continue to affect the market prices of equity securities of many companies, and technology companies in particular. These fluctuations often have been unrelated or disproportionate to the operating performance of those companies. These broad market and industry fluctuations, as well as general economic, political and market conditions such as recessions, interest rate changes or international currency fluctuations, may negatively impact the market price of our common shares.

In the past, companies that have experienced volatility in the market price of their stock have been subject to securities class action litigation. We may be the target of this type of litigation in the future. Securities litigation against us could result in substantial costs and divert our management's attention from other business concerns, which could also harm our business.

***Our investors' ownership in us may be diluted in the future.***

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In the future, we may issue additional authorized but previously unissued equity securities, resulting in the dilution of ownership interests of our present shareholders. Furthermore, we may issue equity awards to management, employees and other eligible persons in the future under our Stock Option Plan. Additional common shares issued by us in the future will dilute an investor's investment in us. In addition, we may seek shareholder approval to increase the amount of our authorized shares, which would create the potential for further dilution of current investors.

***It may be difficult to enforce a U.S. judgment against us, our officers and directors named in this registration statement in the United States, or to assert U.S. securities laws claims in Israel or serve process on our officers and directors.***

None of our directors or officers is resident of the United States and most of their and our assets are located outside the United States. Service of process upon us or our non-U.S. resident directors and officers, including our directors and officers who residents of Israel, may be difficult to obtain within the United States. We have been informed by our legal counsel in Israel that it may be difficult to assert claims under U.S. securities laws in original actions instituted in Israel or obtain a judgment based on the civil liability provisions of U.S. federal securities laws. Israeli courts may refuse to hear a claim based on a violation of U.S. securities laws against us or our non-U.S. officers and directors because Israel may not be the most appropriate forum to bring such a claim. In addition, even if an Israeli court agrees to hear a claim, it may determine that Canadian law and not U.S. law is applicable to the claim. If U.S. law is found to be applicable, the content of applicable U.S. law must be proved as a fact, which can be a time-consuming and costly process. Certain matters of procedure will also be governed by Canadian law. There is little binding case law in Israel addressing the matters described above. Additionally, Israeli courts might not enforce judgments obtained in the United States against us or our non-U.S. our directors and executive officers, which may make it difficult to collect on judgments rendered against us or our non-U.S. officers and directors.

Moreover, an Israeli court will not enforce a non-Israeli judgment if it was given in a state whose laws do not provide for the enforcement of judgments of Israeli courts (subject to exceptional cases), if its enforcement is likely to prejudice the sovereignty or security of the State of Israel, if it was obtained by fraud or in the absence of due process, if it is at variance with another valid judgment that was given in the same matter between the same parties, or if a suit in the same matter between the same parties was pending before a court or tribunal in Israel at the time the foreign action was brought.

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***Because we are a corporation incorporated in British Columbia and some of our directors and officers are resident in Canada, it may be difficult for investors in the United States to enforce civil liabilities against us based solely upon the federal securities laws of the United States. Similarly, it may be difficult for Canadian investors to enforce civil liabilities against our directors and officers residing outside of Canada.***

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We are a corporation incorporated under the laws of British Columbia with our principal place of business in Vancouver, Canada. Some of our directors and officers and the predecessor auditors or other experts named herein are residents of Canada and all or a substantial portion of our assets and those of such persons are located outside the United States. Consequently, it may be difficult for U.S. investors to effect service of process within the United States upon us or our directors or officers or such auditors who are not residents of the United States, or to realize in the United States upon judgments of courts of the United States predicated upon civil liabilities under the Securities Act. Investors should not assume that Canadian courts: (1) would enforce judgments of U.S. courts obtained in actions against us or such persons predicated upon the civil liability provisions of the U.S. federal securities laws or the securities or blue-sky laws of any state within the United States or (2) would enforce, in original actions, liabilities against us or such persons predicated upon the U.S. federal securities laws or any such state securities or blue-sky laws.

Similarly, some of our directors and officers and experts are residents of countries other than Canada and all or a substantial portion of the assets of such persons are located outside Canada. As a result, it may be difficult for Canadian investors to initiate a lawsuit within Canada against these non-Canadian residents. In addition, it may not be possible for Canadian investors to collect from these non-Canadian residents' judgments obtained in courts in Canada predicated on the civil liability provisions of securities legislation of certain of the provinces and territories of Canada. It may also be difficult for Canadian investors to succeed in a lawsuit in the United States, based solely on violations of Canadian securities laws.

***If securities or industry analysts either do not publish research about us or publish inaccurate or unfavorable research about us, our business or our market, or if they change their recommendations regarding our common shares adversely, the trading price or trading volume of our common shares could decline.***

The trading market for our common shares will be influenced in part by the research and reports that securities or industry analysts may or may not publish about us, our business, our market or our competitors. If one or more of the analysts do not publish research about us or initiate research with an unfavorable rating or downgrade our common shares, provide a more favorable recommendation about our competitors or publish inaccurate or unfavorable research about our business, the market prices of our common shares would likely decline. If any analyst who may cover us were to cease coverage of us or fail to regularly publish reports on us, we could lose visibility in the financial markets, which in turn could cause the trading price or trading volume of our common shares to decline.

** *We may be or may become classified as a passive foreign investment company. If we are or become classified as a passive foreign investment company, our U.S. shareholders may suffer adverse tax consequences as a result.***

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Generally, for any taxable year, if at least 75% of our gross income is passive income, or at least 50% of the value of our assets is attributable to assets that produce passive income or are held for the production of passive income, including cash, we would be characterized as a passive foreign investment company, or PFIC, for U.S. federal income tax purposes. For purposes of these tests, passive income includes dividends, interest gains from commodities and securities transactions, the excess of gains over losses from the disposition of assets which produce passive income (including amounts derived by reason of the temporary investment of funds raised in offerings of our shares) and rents and royalties other than rents and royalties which are received from unrelated parties in connection with the active conduct of a trade or business. If we are characterized as a PFIC, our U.S. shareholders may suffer adverse tax consequences, including having gains realized on the sale of our Common Shares treated as ordinary income, rather than capital gain, the loss of the preferential rate applicable to dividends received on our Common Shares by individuals who are U.S. holders, and having interest charges apply to distributions by us and gains from the sales of our shares.

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Our status as a PFIC will depend on the nature and composition of our income and the nature, composition and value of our assets (which, assuming we are not a "controlled foreign corporation," or a CFC, under Section 957(a) of the Internal Revenue Code of 1986, as amended, or the Code, for the year being tested, may be determined based on the fair market value of each asset, with the value of goodwill and going concern value determined in large part by reference to the market value of our Common Shares, which may be volatile). Based upon the estimated value of our assets, including any goodwill, and the nature and estimated composition of our income and assets, we may be classified as a PFIC for the taxable year ended December 31, 2025 and in future taxable years. In particular, so long as we do not generate revenue from operations for any taxable year and do not receive any research and development grants, or even if we receive a research and development grant, if such grant does not constitute gross income for United States federal income tax purposes, we likely will be classified as a PFIC for such taxable year. Because the determination of whether we are a PFIC for any taxable year is a factual determination made annually after the end of each taxable year, there can be no assurance that we will not be considered a PFIC in any taxable year.

The tax consequences that would apply if we are classified as a PFIC would also be different from those described above if a U.S. shareholder were able to make a valid qualified electing fund, or QEF, election. At this time, we do not expect to provide U.S. shareholders with the information necessary for a U.S. shareholder to make a QEF election. Prospective investors should assume that a QEF election will not be available. See "Taxation - U.S. Federal Income Tax Considerations - Passive Foreign Investment Companies" for additional information.

***If a United States person is treated as owning at least 10% of our shares, such holder may be subject to adverse U.S. federal income tax consequences.***

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If a United States person is treated as owning (directly, indirectly or constructively) at least 10% of the value or voting power of our shares, such person may be treated as a "United States shareholder" with respect to each "controlled foreign corporation" in our group (if any). Because our group includes one or more U.S. subsidiaries, we expect that certain of our non-U.S. subsidiaries will be treated as controlled foreign corporations (regardless of whether we are or are not treated as a controlled foreign corporation). A United States shareholder of a controlled foreign corporation may be required to annually report and include in its U.S. taxable income its pro rata share of "Subpart F income," "global intangible low-taxed income" and investments in U.S. property by controlled foreign corporations, whether or not we make any distributions. An individual that is a United States shareholder with respect to a controlled foreign corporation generally would not be allowed certain tax deductions or foreign tax credits that would be allowed to a United States shareholder that is a U.S. corporation. A failure to comply with these reporting obligations may subject you to significant monetary penalties and may prevent the statute of limitations with respect to your U.S. federal income tax return for the year for which reporting was due from starting. We cannot provide any assurances that we will assist investors in determining whether any of our non-U.S. subsidiaries are treated as a controlled foreign corporation or whether such investor is treated as a United States shareholder with respect to any of such controlled foreign corporations or furnish to any United States shareholders information that may be necessary to comply with the aforementioned reporting and tax paying obligations. A United States investor should consult their own advisors regarding the potential application of these rules to its investment in the shares.

***We will incur significant increased costs as a result of the listing of our securities for trading on Nasdaq. By becoming a public company in the United States, our management will be required to devote substantial time to new compliance initiatives as well as compliance with ongoing U.S. requirements.***

Upon the listing of securities on Nasdaq, we will become a publicly traded company in the United States. As a public company in the United States, we will incur additional significant accounting, legal and other expenses that we did not incur before the offering. We also anticipate that we will incur costs associated with corporate governance requirements of the SEC, as well as requirements under Section 404 and other provisions of the Sarbanes-Oxley Act. We expect these rules and regulations to increase our legal and financial compliance costs, introduce new costs such as investor relations, stock exchange listing fees and shareholder reporting, and to make some activities more time consuming and costly. The implementation and testing of such processes and systems may require us to hire outside consultants and incur other significant costs. Any future changes in the laws and regulations affecting public companies in the United States, including Section 404 and other provisions of the Sarbanes-Oxley Act, and the rules and regulations adopted by the SEC, for so long as they apply to us, will result in increased costs to us as we respond to such changes. These laws, rules and regulations could make it more difficult or more costly for us to obtain certain types of insurance, including director and officer liability insurance, and we may be forced to accept reduced policy limits and coverage or incur substantially higher costs to obtain the same or similar coverage. The impact of these requirements could also make it more difficult for us to attract and retain qualified persons to serve on our board of directors, our board committees, or as executive officers.

***We may be subject to securities litigation, which is expensive and could divert management attention.***

In the past, companies that have experienced volatility in the market price of their stock have been subject to securities class action litigation. We may be the target of this type of litigation in the future. Litigation of this type could result in substantial costs and diversion of management's attention and resources, which could seriously hurt our business. Any adverse determination in litigation could also subject us to significant liabilities.

**General Risk Factors**

***We will be a "controlled company" as defined under the Nasdaq Listing Rules. Although we do not intend to rely on the "controlled company" exemptions under the Nasdaq Listing Rules, we could elect to rely on one or more of these exemptions in the future and you will not have the same protection afforded to shareholders of companies that are subject to these corporate governance requirements.***

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Upon the effectiveness of the listing of our common shares on Nasdaq, Jeffs' Brands will hold approximately 70.94% of our issued and outstanding common shares and will be able to exercise approximately 70.94 % of the total voting power of our issued and outstanding common shares. Under the Nasdaq Listing Rules, a company of which more than 50% of the voting power is held by an individual, group or another company is a "controlled company" and is permitted to elect to rely, and may rely, on certain exemptions from corporate governance rules, including:

● an exemption from the rule that a majority of our board of directors must be independent directors;

● an exemption from the rule that requires a compensation committee comprised entirely of independent directors with a written charter addressing the committee's purpose and responsibilities; and

● an exemption from the rule that our director nominees must be selected or recommended solely by independent directors or by a nominations committee that consists entirely of independent directors with a written charter or board resolution addressing the nominations process.

Although we do not intend to rely on the "controlled company" exemptions under the Nasdaq Listing Rules, we could elect to rely on one or more of these exemptions in the future. If we elect to rely on any of the "controlled company" exemptions, our investors will not have the same protections afforded to shareholders of companies that are subject to these corporate governance requirements. Our status as a controlled company could cause our common shares to look less attractive to certain investors or otherwise harm the trading price of the common shares.

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***If we engage in future acquisitions or strategic partnerships, this may increase our capital requirements, dilute our shareholders, cause us to incur debt or assume contingent liabilities, and subject us to other risks.***

We have engaged in various acquisitions and may continue to evaluate various acquisition opportunities and strategic partnerships, including licensing or acquiring complementary products, intellectual property rights, technologies or businesses. Any potential acquisition or strategic partnership may entail numerous risks, including:

● increased operating expenses and cash requirements;

● the assumption of additional indebtedness or contingent liabilities;

● the issuance of our equity securities;

● assimilation of operations, intellectual property and products of an acquired company, including difficulties associated with integrating new personnel;

● the diversion of our management's attention from our existing product programs and initiatives in pursuing such a strategic merger or acquisition;

● retention of key employees, the loss of key personnel and uncertainties in our ability to maintain key business relationships;

● risks and uncertainties associated with the other party to such a transaction, including the prospects of that party and their existing products or product candidates and marketing approvals; and

● our inability to generate revenue from acquired technology and/or products sufficient to meet our objectives in undertaking the acquisition or even to offset the associated acquisition and maintenance costs.

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***We are subject to certain U.S. and foreign anticorruption, anti-money laundering, export control, sanctions and other trade laws and regulations. We can face serious consequences for violations.***

Among other matters, U.S. and foreign anticorruption, anti-money laundering, export control, sanctions and other trade laws and regulations, which are collectively referred to as Trade Laws, prohibit companies and their employees, agents, legal counsel, accountants, consultants, contractors and other partners from authorizing, promising, offering, providing, soliciting or receiving, directly or indirectly, corrupt or improper payments or anything else of value to or from recipients in the public or private sector. Violations of Trade Laws can result in substantial criminal fines and civil penalties, imprisonment, the loss of trade privileges, debarment, tax reassessments, breach of contract and fraud litigation, reputational harm, and other consequences. We have direct or indirect interactions with officials and employees of government agencies or government-affiliated hospitals, universities and other organizations. We also expect our non-U.S. activities to increase over time. We can be held liable for the corrupt or other illegal activities of our personnel, agents or partners, even if we do not explicitly authorize or have prior knowledge of such activities.

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***Our business and operations might be adversely affected by security breaches, including any cybersecurity incidents.***

We depend on the efficient and uninterrupted operation of our computer and communications systems, and those of our consultants, contractors and vendors, which we use for, among other things, sensitive company data, including our intellectual property, financial data and other proprietary business information.

While certain of our operations have business continuity and disaster recovery plans and other security measures intended to prevent and minimize the impact of IT-related interruptions, our IT infrastructure and the IT infrastructure of our consultants, contractors and vendors are vulnerable to damage from cyberattacks, computer viruses, unauthorized access, electrical failures and natural disasters or other catastrophic events. We could experience failures in our information systems and computer servers, which could result in an interruption of our normal business operations and require substantial expenditure of financial and administrative resources to remedy. System failures, accidents or security breaches can cause interruptions in our operations. To the extent that any disruption or security breach were to result in a loss of, or damage to, our data or applications, or inappropriate disclosure of confidential or proprietary information, we could incur regulatory investigations and redresses.

Even though we believe we carry commercially reasonable business interruption and liability insurance, we might suffer losses as a result of business interruptions that exceed the coverage available under our insurance policies or for which we do not have coverage. For example, we are not insured against terrorist attacks or cyberattacks. Any natural disaster or catastrophic event could have a significant negative impact on our operations and financial results.

**ITEM 4. INFORMATION ON THE COMPANY** 

**A.** **History and Development of the Company** 

The Company, being Fort Technology Inc. (then known as Impact Acquisitions Corp.), was incorporated pursuant to the provisions of the *Business Corporations Act* (British Columbia) (the "**BCBCA**") on December 5, 2019. The Company was a Capital Pool Company within the meaning of the policies of the TSX Venture Exchange. A Capital Pool Company is a company with no assets other than cash and no commercial operations. A Capital Pool Company uses its funds to seek out an investment opportunity. Following the Company's acquisition of Fort Products Limited in July 2025, which was a qualifying transaction under the policies of the TSX Venture Exchange, the Company ceased being a Capital Pool Company. The Company's common shares are listed on the TSXV under the symbol "FORT.V" and commenced trading after its qualifying transaction with Fort Products Limited on July 10, 2025.

The Company's wholly-owned subsidiary, Fort Products Limited, was incorporated under the laws of England and Wales on November 25, 2005, under the name Sussex P C S Limited, to become manufacturer and seller specializing in a range of amateur and professional products for the pest control and remedial repair industry. In January 2020, Sussex P C S Limited changed the company name to Fort Products Limited and since then operated an e-commerce platform, mainly through Amazon market place.

On March 9, 2023, Fort Products Limited was acquired by Jeffs' Brand Ltd, a company incorporated in Israel and listed on the Nasdaq Capital Market under the symbol "JFBR". Prior to the acquisition, Fort Products Limited's sole market was UK, but since 2024, it started selling its products on other Amazon marketplaces, such as France, Germany, Italy, and other European countries, and we plan to move also to Amazon.com.

On February 6, 2025, the Company entered into the Share Purchase Agreement with Jeffs' Brands Ltd. and Fort Products Limited, pursuant to which, on the terms and subject to the conditions of the Share Purchase Agreement, Jeff's Brand sold all of the issued and outstanding shares of Fort Products Limited to us. The Acquisition closed on July 7, 2025. In connection with the consummation of Acquisition, we changed our name from "Impact Acquisitions Corp." to "Fort Technology Inc.". Pursuant to the Share Purchase Agreement, among other things, Jeffs' Brands sold to us, all of the issued and outstanding common shares of Fort UK, in consideration for 7,142,857 of our common shares and up to an additional 4,714,287 contingent right shares, each entitling the holding thereof to acquire one of our common shares for no additional consideration upon the achievement of certain pre-determined milestones, representing a post-closing equity interest in us of 75.02%. Upon the effectiveness of the listing of our common shares on Nasdaq, 1,571,429 common shares, representing contingent right shares pursuant to the Share Purchase Agreement will be issued to Jeffs' Brands as the achievement of one of the milestones (see "Item 4B. Business Overview – Recent Developments – Impact Share Purchase Agreement" below for further information). In addition, 1,949,794 common shares (including 858,031 common shares issuable to Jeffs' Brands) and warrants to purchase 1,949,794 common shares (including warrants to purchase 858,031 common shares issuable to Jeffs' Brands) will be issued upon the automatic conversion of August 2025 Convertible Debentures immediately following the effectiveness of the listing of our common shares on Nasdaq (see "See "Item 5 — Operating and Financial Review and Prospects – Recent Transactions – August 2025 Private Placement" below for further information).

Our principal executive offices are located at 3292 Production Way, Suite 501 Burnaby, British Columbia V5A 4R4. Our telephone number is (604) 833-6820. Our website address is *https://fortproducts.co.uk/*. The information contained on our website or available through our website is not incorporated by reference into and should not be considered a part of this registration statement, and the reference to our website in this registration statement is an inactive textual reference only.

Puglisi & Associates is our agent in the United States and its address is 850 Library Avenue, Suite 204, Newark, Delaware 19711. The SEC maintains an Internet website that contains reports and other information regarding issuers that file electronically with the SEC. Our filings with the SEC are also available to the public through the SEC's website at www.sec.gov.

For a description of our principal capital expenditures and divestitures, see Item 5. "Operating and Financial Review and Prospects."

**B.** **Business Overview** 

We are an e-commerce CPG company focused on the assembly and sale of pest control products via the Amazon Marketplace utilizing the FBA and the FBM models. As at the date of this registration statement, we sell our products in the U.K., Germany, France, Italy, and other European countries and we plan to sell our products in the U.S. in the future.

We utilize internal methodologies to analyze sales data and patterns on Amazon in order to identify existing stores, niches and products that have the potential for development and growth, as well as maximizing sales of its existing proprietary products. We also use our own skills, know-how and profound familiarity with Amazon's algorithm and all the tools that the FBA platform has to offer. In some circumstances we scale the products and improve them.

We operate on a model that does not require specialized skills or technical expertise. By leveraging partnerships with third-party manufacturers, we focus on sourcing, branding, and distributing rodent and pest repellent products. This approach allows us to offer a range of products without the need for in-house manufacturing capabilities or specialized knowledge.

Pest control generally consists of assessing a customer's property for conditions that invite pests, tackling current infestations, and stopping the life cycle to prevent future invaders. Termite protection programs include liquid treatments, wet and dry foam applications, termite baiting and wood treatments. Our service offerings include:

● *Residential*: Pest control services protecting residential properties from common pests, including rodents, insects and wildlife; and

● *Commercial*: Workplace pest control solutions for customers across diverse end markets, such as healthcare, food service, office space, hospitality and logistics.

**Our Store, Brands, and Products**

As at the date of this registration statement, we sell our products via the Amazon Marketplace utilizing the FBA and FBM models in the U.K. and the FBA model Germany, France and other countries in Europe, and we plan to sell our products in the U.S. in the future.

We sell a variety of pest control products, including, among others: rat and mouse poison, rat traps, and tamper proof rodent bait boxes, including:

●  ***Entopest - Insect Control*** : Our Entopest product suite is aimed at insect control. The diverse product range is aimed at keeping spaces safe and free from a wide variety of insects. Entopest products prioritize eco-friendliness and include comprehensive guides for usage.

●  ***Roshield - Rodent Control*** : Our Roshield product suite is designed to combat rodent infestations. The product suite ranges from advanced poisons to humane traps that ensure safety and convenience for users. As with Enopest, We are committed to providing environmentally responsible options in its Roshield line.

●  ***BirdGo - Bird Control and Prevention*** : We offer a number of solutions to manage pest birds under its BirdGo product line. BirdGo products help customers prevent pest birds from perching, roosting, or nesting in sensitive areas. BirdGo's product line includes a variety of products aimed at various bird species including pigeons, gulls, starlings, and sparrows, with a particular focus on controlling pidgeon waste which can be hazardous.

●  ***Rempro - Damp and Remedial*** : Our Rempro products span from damp proof course, or DPC, injection creams to treat rising damp to moisture-resistant damp-proofing paint and thermal paint for improved insulation. The Rempro line also includes insecticides tackle pests in the home, fungi control products, mold control products, salt neutralizers to combat salt-related issues, and DPC plugs to ensure damp-proof course installations.

We have also partnered with digital developers to create an AI-based mobile application designed to identify pests and provide tailored treatment recommendations. The app, called Fort Pest ID, which launched on the Apple App Store in 2025 and is expected to launch on Google Play by the end of 2025, offers access to our products and is intended to strengthen our position as an innovator in both e-commerce and pest control solutions. Fort Pest ID allows users to scan or search or pests, access detailed information about each species and learn how to manage or eliminate them through access to our products. In addition, the app is useful for homeowners, gardeners and professionals as it also allows users to keep track of past pest encounters with a personal pest history and serves as both a pest detection and learning tool.

**Our Customers**

Our customers, including end customers from e-commerce platforms, such as Amazon, are primarily individual online consumers who purchase our products primarily on Amazon U.K. and Amazon EU marketplaces, which contributed to our increase in sales year over year.

In each of 2024 and 2023, approximately 98% to 93% of our revenue was through or with Amazon sales platform.

Our products experience seasonal sales fluctuations based on their specific use and market demand. Roshield, rodent control and repellents, sees peak sales from October to January, aligning with colder months when rodent activity increases. Entopest, insect control, has its highest sales from March to September, reflecting the warmer months when insects are most active. Rempro, mold control, peaks in sales from November to March, corresponding with higher humidity and damp conditions during the winter months. Lastly, Birdgo, bird netting control, experiences its peak sales from January to July, when bird activity and the need for deterrents are more prevalent. These seasonal trends help us strategically manage inventory and marketing efforts throughout the year.

Our business is not currently dependent on any contract including any contract to sell the majority of our products or services or to purchase the majority of our requirements for goods, services or raw materials, or any franchise or license or other agreement to use a patent, formula, trade secret, process or trade name upon which our business depends.

**Our Competitive Strengths**

We believe that our competitive strengths include:

● Senior and experienced management team;

● Strength of our brands;

● Strong logistical capabilities, using sophisticated BI tools to optimize the supply chain management; and

● Price advantage over most competitors.

We believe that these strengths, as further described below, differentiate us from our competitors and provide us with numerous advantages:

● **Senior and experienced management team:** We are led by Mr. Gabriel Kabazo, our Chief Executive Officer. Mr. Kabazo has over 25 years of experience in accounting, financing and IT operations in complex corporate settings. Mr. Kabazo received a B.A. in Accounting & Economics from Tel Aviv University in 1997 and earned his C.P.A. (Israel) designation in 1999. In 2006 he earned an MBA (Financing) from the University of British Columbia, Sauder School of Business.

Our finance team is led by Mr. Ronen Zalayet, our Chief Financial Officer. Mr. Zalayet has over 20 years of experience working in financial leadership positions in private and public companies, including in growing fintech and technology companies. Mr. Zalayet holds a B.A. in Economics and Accounting and an MBA from Tel Aviv University, Israel, and is a certified public accountant in Israel.

● **Strength of our brands:** We believe the strength of our brands, quality of our services, user-friendliness of our website experience, focus on our customers and efficacy of our marketing programs have enabled us to capture a significant share of the pest control products market.

**●** **Strong logistical capabilities, supply chain management as an integral part of our business:** Our logistical capabilities were formulated prior to the establishment of our Company. We view the logistical aspect of our business as a main and important factor to our success and we work hard to achieve it. Every product opportunity that we encounter is handled with strong and efficient logistical tools and no opportunity will be neglected due to lack of logistical capabilities or low profitability. In the U.K., we lease two warehouses for the storage of our inventory, which streamlines our supply chain management. for faster turnaround times and enhanced efficiency for inventory management and order fulfillment; and supports the expansion of our operations in the U.S. We plan on expanding our operations in the U.S. based upon our success in the U.K., with the logistics center in New Jersey operated by Pure NJ Logistics LLC, a wholly-owned subsidiary of our parent company, Jeffs' Brands, which Jeffs' Brands recently acquired.

● **Price advantage over most competitors:** Close working relationships with our suppliers, our continued procurement, efficient supply chain and punctual payments are the key reasons why we are able to offer our products with a *price advantage* over that of our competitors.

**Industry Overview and Market Opportunity**

According to a report public by Grand View Research in December 2024, the global pest control service market is projected to reach $34.3 billion by 2030, growing at CAGR of 6.3% from 2024 to 2030. According to this source the demand for pest control services is on the rise due to the ability to prevent the spread of pest-borne diseases, such as viral and bacterial illnesses, malaria and dengue caused by mosquito bites. Pest control also helps protect against property damage and ensures a safe and healthy living environment, contributing to overall public safety. The importance of pest control systems in safeguarding public health is validated by a report from the U.S. Center for Disease Control in November 2025 that each year approximately 48 million people get sick from a foodborne illness, 128,000 are hospitalized, and 3,000 die.

Moreover, the strict regulations regarding pest control, particularly in offices and other workplaces, hospitals, hotels, restaurants and industrial setups are fueling the market growth. The increasing demand for pest control activities in the agriculture sector is vital to prevent crop damage and yield loss. Additionally, the demand for pest control services in the food manufacturing sector is increasing and manufacturers are largely investing in pest control systems to ensure clean and hygienic manufacturing of food products.

The commercial segment dominated the market in 2023. Commercial spaces have more rigorous health and safety rules, necessitating regular pest control to keep the environment healthy and free from pests. Commercial places, such as hospitals and food services, have strict government regulations regarding maintaining hygiene and cleanliness, driving the market's growth. Pest infestations in the commercial segment have severe consequences, and businesses are proactive about pest control. In industrial setups, pest control services are standard practices to avoid disruptions caused by pest outbreaks.

In addition, according to a Fortune Business Insights from December 2025, the expansion of the integrated pest management industry, the launch of new integrated pest management, or IPM, programs, which focus on prevention and long-term solutions rather than solely relying on chemicals and are increasing in popularity, and increasing government support to IPM are expected to positively influence this market.

The global retail e-commerce market is expected to continue growing. According to analysis published by Statista in April 2025, the global retail e-commerce market is estimated to reach $8.034 trillion in 2027. Revenues are expected to grow from 2023 to 2027 by 39%. According to this analysis, e-commerce continues to attract new consumers. Convenience is the key driver for shoppers around the world to order online, rather than visit a brick-and-mortar store. The global e-commerce growth forecast has two underlying developments. Most global markets are still in the process of increasing internet penetration and digitalization, meaning that the infrastructure required for e-commerce to flourish is still being built. At the same time, the most-developed e-commerce markets are currently profiting from the benefits of AI, which we are aiming to capitalize on through our AI-based mobile application. New technologies and automation are making the customer journey and order fulfillment process more efficient, turning online retail into a well-oiled machine.

According to an IMARC research report from 2025, the market is primarily driven by the rising internet penetration. Additionally, the adoption of smartphones and the Internet made it suitable for consumers to shop online, thus influencing the market growth. Moreover, mobile applications and user-friendly websites made the shopping experience seamless and accessible, allowing customers to browse, compare prices, and easily make purchases, thus representing another major growth-inducing factor. Also, the COVID-19 pandemic accelerated the shift toward online shopping, accelerating the sales demand

We believe that the combination of the growing pest control market and retail e-commerce market has created a huge opportunity for pest control companies that also broadly offers their products online, such as Fort, which has the capability to respond to the current demand and market trends.

Moreover, Amazon, which is the primary platform that our business is based on, continues to rise and grow. In 2024, Amazon's global sales were $637.96 billion, an 11% increase year- over year. Amazon's sales, however, are not necessarily indicative of our current or future sales, as Amazon sells vast and varied quantities of products on its platforms, whereas we sell only a limited quantity of products on Amazon and are not otherwise affiliated with Amazon. While our sales represent a small fraction of the sales on Amazon, we believe that Amazon provides us with a unique opportunity to grow our sales.

**Strategy**

***Growth Strategy***

The key elements of our growth strategy include:

● High-end search and identification of high value products and expansion into new markets and territories;

● Introduction of new products to our customers primarily in the U.K.;

● Effective use of our competitive advantage - our know-how uses of software-based technology;

● Leverage of our logistical capabilities and knowledge to reduce costs and increase purchasing power; and

● Continued monetarization of our competitors to ensure we maintain our competitive differentiation and advantages.

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Our growth, as described above is expected to be generated by the expansion of our current platforms to new territories, mainly USA and by leveraging our logistical capabilities, after the acquisition of the logistics company in New Jersey, which we believe will bolster our competitive advantage.

**Intellectual Property**

In the pesticide and rodent control business, identifiable intangible properties such as brand names, trademarks, and customer databases are essential our success. Our trademark provides legal protection for our brand, helping to build recognition and customer loyalty in a market where trust and reliability are key. Customer lists and subscription databases also play a vital role, enabling targeted marketing and fostering long-term relationships with clients. While we do not own patents or intellectual property relating to the formulation of our products, our focus on branding and customer engagement remains a critical factor in maintaining a competitive advantage, supporting both market growth and customer retention in the highly regulated pest control industry.

As of the date of this registration, we own eight trademarks: Roshield, Entopest, Rempro, Birdgo, ProPest, Topperama, Dr Grögel and Seaheaven.

*Trademarks* 

Generally, trademarks are registered for a fixed period, as set forth in the applicable legal provisions, and may be renewed at the end of each period. Below is a table summarizing registered trademarks and/or applications filed by us for the registration of trademarks in its name:

*UK trademarks:*

 

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Mark Text:** | **Mark<br> Type:** | **Classes:** | **Date Of Registration** | **Registration<br> Number** | **Status** | **Country Of<br> Registration** | **Expiration<br> Date** |
| Roshield | Word | 21 | 10 November 2016 | UK00003196079 | Registered | U.K. | 10 November 2026 |
| Roshield | Word | 5 | 03 September 2018 | UK00003335656 | Registered | U.K. | 03 September 2028 |
| Entopest | Word | 5, 9, 21 | 22 November 2016 | UK00003198146 | Registered | U.K. | 22 November 2026 |
| Rempro | Word | 2 | 09 March 2017 | UK00003217701 | Registered | U.K. | 09 March 2027 |
| Birdgo | Word | 6, 19 | 24 March 2017 | UK00003220935 | Registered | U.K. | 24 March 2027 |
| ProPest / PROPEST | Word | 5, 21 | 03 September 2018 | UK00003335673 | Registered | U.K. | 03 September 2028 |
| PestPro / PESTPRO | Word | 5, 21 | 28 September 2018 | UK00003341769 | Registered | U.K. | 28 September 2028 |

---

The following registered trademarks are registered by Fort but are no longer used:

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Topperama | Word | 16, 20 | 03 March 2017 | UK00003216484 | Registered | U.K. | 03 March 2027 |
| Dr Grögels | Word | 20 | 09 March 2017 | UK00003217694 | Registered | U.K. | 09 March 2027 |
| seahaven | Word | 5 | 09 March 2017 | UK00003217705 | Registered | U.K. | 09 March 2027 |
| Seaheaven | Word | 5 | 20 March 2017 | UK00003219721 | Registered | U.K. | 20 March 2027 |

---

 

*EU Trademarks:*

 

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Mark Text:** | **Mark Type:** | **Classes:** | **Date Of Registration** | **Registration Number** | **Status** | **Country Of Registration** | **Expiration Date** |
| Roshield | Word | 5, 21 | 11 December 2020 | 018292580 | Registered | U.K., EU | 19 August 2030 |
| Entopest | Word | 5, 21 | 08 January 2021 | 018306563 | Registered | U.K., EU | 13 September 2030 |

---

 

*Domain Names*

 

Below is a summary of domain names held by us:

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| | |
|:---|:---|
| **Domain Name** | **Host** |
| birdgo.co.uk | Heart Internet (Domain Parking), Hostinger (Website Hosting) |
| entopest.co.uk | Heart Internet (Domain Parking), Hostinger (Website Hosting) |
| fortproducts.co.uk | Heart Internet (Domain Parking), Hostinger (Website Hosting) |
| meshventcover.co.uk | Heart Internet (Domain Parking), Hostinger (Website Hosting) |
| mothremoval.co.uk | Heart Internet (Domain Parking), Hostinger (Website Hosting) |
| propest.co.uk | Heart Internet (Domain Parking), Hostinger (Website Hosting) |
| rempro.co.uk | Heart Internet (Domain Parking), Hostinger (Website Hosting) |
| roshield.co.uk | Heart Internet (Domain Parking), Hostinger (Website Hosting) |
| solarpanelmesh.co.uk | Heart Internet (Domain Parking), Hostinger (Website Hosting) |
| Fortserver.co.uk | Heart Internet (Domain Parking), Hostinger (Image Server Hosting) |

---

---

| | |
|:---|:---|
| **Domain Name** | **Host** |
| bristlestrips.co.uk | Heart Internet (Domain Parking) |
| flyzappers.co.uk | Heart Internet (Domain Parking) |
| fortpro.co.uk | Heart Internet (Domain Parking) |
| fortproduct.co.uk | Heart Internet (Domain Parking) |
| thepestshop.co.uk | Heart Internet (Domain Parking) |
| cdavies.co.uk | Heart Internet (Domain Parking) |
| hailshampestcontrol.co.uk | Heart Internet (Domain Parking) |
| seagullrescue.com | Heart Internet (Domain Parking) |
| seahavengroup.co.uk | Heart Internet (Domain Parking) |
| ukbirdcontrol.co.uk | Heart Internet (Domain Parking) |
| mothstop.co.uk | Heart Internet (Domain Parking) |

---

**Competition**

The pest control and e-commerce markets are a highly competitive environment. Our competitive landscape primarily consists pest control products and service providers.

Our competitors include Bayer AG (Germany), Corteva Agriscience (US), BASF SE (Germany), Sumitomo Chemical Co. Ltd. (Japan), Syngenta AG (Switzerland), Rentokil Initial plc (UK), Anticimex (Sweden), Rollins, Inc. (US), ATGC Biotech Pvt Ltd. (India), Ecolab Inc. (US), FMC Corporation (US), De Sangosse (France), Bell Laboratories (US), PelGar International (UK), Arrow Exterminators (US), Asante (Japan) and Sanix (Brazil).

Despite the seemingly harsh competitive landscape, we believe that our technology and experience enable us to successfully compete and achieve our financial goals.

We believe that our competitive advantages include:

● Senior and experienced management team;

● Strength of our brands;

● Strong logistical capabilities, using sophisticated BI tools to optimize the supply chain management; and

● Price advantage over most competitors.

**Procurement Process, New Products, Third-Party Manufacturing and Logistics**

We utilize a white-label strategy to source and distribute high-quality rodent and pest repellent products, partnering with third-party manufacturers in China, the U.K., and Italy.

During the year ended December 31, 2024, we sourced approximately 56%, 43% and 1% of our products from China, the U.K., and Italy, respectively, which reflect purchases of finished goods and not reflect changes in inventory balances. During the nine months ended September 30, 2025, we sourced approximately 44%, 56% and 0% of our products from China, the U.K., and Italy, respectively. Most products that are purchased from China can be also manufactured and purchased from manufacturers and suppliers in the U.K. These trusted manufacturers produce products according to our precise specifications, including formulation, packaging, and branding. The decrease in the proportion of purchases from China during 2025 reflects our inventory replenishment strategy. During the year ended December 31, 2023, all inventories were purchased from local suppliers in the U.K. During the year ended December 31, 2024, we started sourcing inventories from Chinese suppliers to build inventory levels to support growth while maintaining product availability. During nine months ended September 30, 2025, as inventory levels stabilized, we reduced overall purchasing volumes from certain countries, including from China, compared to year end December 31, 2024, and shifted a portion of replenishment to U.K. suppliers to shorten lead times.

By rebranding these products under our own label, we offer an efficient solution to bring effective pest control products to market without the need for direct investment in manufacturing or research and development. The diverse manufacturing capabilities across these regions allow us to provide both cost effective options from China and Europe, ensuring a competitive edge across global markets. We receive key components, including boxes, traps, and pesticides, which are then assembled in our U.K.- based warehouses. The boxes and traps are primarily sourced from suppliers in China or from local suppliers specific to each country of operation. The pesticide is sourced from local suppliers within the U.K.

We do not have formal manufacturing agreements with our suppliers. Instead, we source our products from third-party manufacturers based on predetermined price lists and purchase orders issued from time to time. These arrangements are non-exclusive, and the manufacturers are generally free to manufacture or supply similar products to other customers. Products sourced from these manufacturers are subject to our customary quality control and inspection procedures prior to shipment. We may discontinue sourcing from any manufacturer at any time without penalty, subject to any outstanding purchase orders. We have established working relationships with our suppliers and believe that our current sourcing arrangements provide adequate flexibility and stability for our supply needs.

We are developing new methods to streamline sales, such as our recently-launched AI-based mobile application to identify the correct type of pesticide required for a pest, and directing the customer to Fort's website to purchase the pesticide. In addition, we are considering enabling payments for our products by cryptocurrencies such as bitcoin. These methods are still under development and have not been deployed as at the date of this registration statement**.**

As of the date of this registration statement, we have two warehouses in the United Kingdom, which streamline distribution and improve order fulfillment efficiency within key European markets for our products that we sell using the FBM model. In addition, the FBA model allows us to store our products in Amazon's warehouses, where they handle picking, packing, shipping, and customer service. To ensure smooth operations and avoid stockouts, we maintain sufficient inventory levels at Amazon's fulfillment centers.

**Marketing, Distribution Methods and Sales**

We believe our **marketing** expenses are lower and more efficient than our competitors since we are only engaged with well established brands that are already familiar to many of our customers and potential customers on Amazon. In addition, we expect to hire managers to handle our digital marketing and advertising efforts.

With respect to **distribution**, we see logistics as a main and important consideration and we prioritize creating an effective and efficient distribution channel. Every product opportunity that we encounter will be handled with strong and efficient logistical tools and no opportunity will be left out due to lack of logistical capabilities or low profitability. Furthermore, we plan to own warehouses in the future in lieu of relying on Amazon or other third-party warehouses, which would improve our distribution channel.

Our **sales** phase, as further described above, is the third phase after a deep analysis is conducted by our software, identification and procurement process. Using the most advanced software, provides us with all the data needed to launch and to operate our Amazon brands in the highest levels. We believe that this knowledge will bring significant competitive advantages for our products. Our spending and approach on advertising is aimed to be as low as possible given the resources we spent prior to the actual sale on selecting the different products depending on the life cycle of products on our platform.

We also use promotions to drive sales. From time to time, mainly when launching a new product, the Company uses promotional pricing and marketing programs, including limited-duration seasonal promotions conducted through third-party e-commerce platforms such as Amazon, to increase product visibility, stimulate customer demand and manage inventory levels. These promotions may include PPC (Pay-Per-Click), temporary price reductions, participation in platform-sponsored promotional events, and targeted marketing campaigns.

The Company evaluates the use of promotional pricing on a periodic basis and seeks to balance the benefits of increased sales volume and market penetration against the potential impact on profitability. There can be no assurance that these promotional activities will result in sustained increases in demand, improved long-term customer retention or overall profitability.

**Government Regulation and Product Approval**

We do not anticipate any significant problems in obtaining future required licenses, permits or approvals that are necessary to expand our business.

Certain of our products are subject to comprehensive regulation regulatory agencies that relates to, among other things, product approvals, product registrations, manufacturing, import, export, distribution, marketing and promotion, labeling, recordkeeping, testing, quality, storage, product disposal and environmental compliance for the pest control industry. In addition, we are subject to additional laws relating to the processing of payments, consumer protection, the privacy of consumer information and other laws regarding unfair and deceptive trade practices.

The Company does not intend to seek regulatory approval for its poison-containing products directly. Instead, the Company's business model is to work with local suppliers or manufacturers that already hold the required regulatory approvals for products that require such approvals, primarily poison products. In jurisdictions where applicable regulations classify certain products as poisons or otherwise subject to regulatory oversight, the Company expects that any required approvals, registrations, licenses, or permits will be obtained and maintained by its local suppliers or manufacturers rather than by the Company itself. Under this model, the Company expects that its suppliers or manufacturers will be responsible for compliance with applicable regulatory requirements relating to the manufacture, formulation, labeling, registration, and permitted uses of such products in the relevant jurisdictions. Regulatory requirements applicable to such products may vary by jurisdiction and may change over time, and the Company's ability to market or distribute its products may depend, in part, on the continued compliance of its suppliers or manufacturers with applicable laws and regulations.

As necessary, our carriers impose additional restrictions on dangerous products. Our carriers require compliance with international air regulations, such as the International Air Transport Association (IATA) Dangerous Goods Regulations.

As required by applicable law, we list and register our products with the appropriate governmental authorities and obtain necessary authorizations and approvals therefrom. We require that our foreign and domestic facilities engaged in manufacturing, processing, packing, or warehousing submit additional registration information, such as good manufacturing practice (GMP) and other related quality management requirements. We request certificates and clearances as proof of compliance with the existing laws and regulations. We also declare, certify and conduct testing in reputable or accredited testing laboratories. For some products, we set out written warranties in compliance with the mandatory requirements of the Magnuson-Moss Warranty Act.

Some chemicals pose perceived or real risks to the environment and human health. We require our products that contain chemicals regulated by the EPA to comply with certification reporting and other requirements of imposed by the EPA. Products with emission standards for formaldehyde from wood products are compliant with EPA and California Air Resources Board (CARB).

Moreover, on March 2021, we received an update from Amazon regarding a new EPA regulation. Following the new EPA regulation, Amazon categorized one of our products as a pesticide product. Amazon requires that pesticide products be filed with evidence of an EPA registration number and/or EPA establishment number or certification that the product is exempt from EPA regulation, otherwise the existing listing (of the product) may be subject to removal. The revenue from the sale of these products is immaterial to the Company and the Company does not currently expect to continue to sell such products on Amazon unless they can be sold absent these restrictions and will instead look to sell such products outside of Amazon.

We do not estimate any significant capital expenditures for environmental control matters either in the current fiscal year or in the near future.

Although we have not suffered any material restriction from doing business in the past due to government regulation, legal issues with potential implications may arise in the future as we expand our business.

From time to time, we dispose of obsolete inventory, which is disposed of or destroyed in compliance with applicable laws and regulations, such as extended producer responsibility (EPR) or product stewardship legislation.

 

<u>Regulations Relating to Environmental Protection</u>

Compliance with local environmental regulations is crucial in the pest control industry, as products must meet specific standards to ensure safety and minimize ecological impact. While the capital or competitive impact of these regulations is typically minimal, the rejection of a product in a new jurisdiction or changes in environmental regulations within existing markets could significantly affect growth and competitive positioning. Strict regulations or delays in product approval could hinder market expansion, while regulatory changes may require costly product modifications or adaptations, impacting profitability and time-to-market. Therefore, staying informed and compliant with evolving environmental standards is essential for Fort to maintain its competitiveness and ensure sustainable growth.

*Europe*

The pest control products sold by us are subject to local environmental regulations, mainly with respect to pest control products containing poisons which require licenses in each individual country of sale. As such, we sell our products using local licensed poison suppliers in each country. If we are unable to engage a licensed supplier of the active ingredient in our pest control products in a country in which it wishes to sell its poison products, we will not be able to sell its pest control products there.

*Registration, Evaluation and Authorization of Chemicals*

The European Union has enacted a regulatory framework for the Registration, Evaluation and Authorization of Chemicals, or REACH, which aims to manage chemical safety risks. REACH established a European Chemicals Agency in Helsinki, Finland, which is responsible for evaluating data to determine hazards and risks and to manage this program for authorizing chemicals for sale and distribution in Europe. We met all REACH registration requirements. To help manage this program, we have been simplifying our product lines and working with chemical suppliers to comply with registration requirements.

*Biocidal Products Regulation* 

The European Union's Biocidal Products Regulation (EU) No 528/2012, or EU BPR, requires that biocidal product to be authorized by the European Chemicals Agency before it can be marketed or used in the European Union.

*United Kingdom*

In the United Kingdom, biocidal products are regulated under the U.K.'s Biocidal Products Regulation, or UK BPR, managed by the Health and Safety Executive (HSE), and such products be authorized before they can be marketed or used in the United Kingdom. All active substances and biocidal products must be separately approved or authorized under the UK BPR. Labels must comply with U.K. classification, labelling and packaging of chemicals regulations and be in English, and companies must follow distinct procedures for marketing in Great Britain versus Northern Ireland, which still follows the EU BPR.

*France*

In France, biocidal products must be authorized under the EU BPR and notified or approved by ANSES (the French regulatory authority) before being placed on the market. Product labels and safety data sheets must be in French and include country-specific warnings or use instructions. Some products may be restricted to professional use only, and France often imposes stricter environmental and public health requirements than the EU baseline.

*Germany*

In Germany, biocidal products are regulated under the EU BPR and must also be notified to the Federal Institute for Occupational Safety and Health (BAuA) before being marketed in Germany. Labels and safety data sheets must be in German, and additional environmental risk assessments may be required by the Federal Environment Agency (UBA), especially for products like rodenticides. Local state authorities oversee enforcement, including market surveillance and inspections.

*China*

China has adopted extensive environmental laws and regulations with national and local standards for emissions control, discharge of wastewater and storage and transportation, treatment and disposal of waste materials. At the national level, the relevant environmental protection laws and regulations include the Chinese Environmental Protection Law, the Chinese Law on the Prevention and Control of Air Pollution, the Chinese Law on the Prevention and Control of Water Pollution, the Chinese Law on the Promotion of Clean Production, the Chinese Law on the Prevention and Control of Noise Pollution, the Chinese Law on the Prevention and Control of Solid Waste Pollution, the Chinese Recycling Economy Promotion Law, the Chinese Law on Environmental Impact Assessment, the Administrative Regulations on the Levy and Use of Discharge Fees and the Measures for the Administration of the Charging Rates for Pollutant Discharge Fees. In recent years, the Chinese Government has introduced a series of new policies designed to generally promote the protection of the environment. For instance, on November 10, 2016, the General Office of the State Council has released the Implementing Plan for the Permit System for Controlling the Discharge of Pollutants, or the Plan. The Plan proposes the need of instituting a system for enterprises and public institutions to control their respective total amount of pollutants discharged, which shall be connected with the environmental impact assessment system organically. The Plan also stipulates that it is necessary to regulate the orderly issuance of pollutant discharge permits, to make a name list to manage the permission of pollutant discharge, to promote the administration of such permission system per industry and to impose severer administration and control over enterprises and public institutions located at such places where environment quality fails to reach relevant standards. Furthermore, the Plan requires that a national pollutant discharge permit management information platform shall be established by 2017 to strengthen the information disclosure and social supervision.

*United States*

Pest control products that contain poisonous or otherwise regulated active ingredients are subject to extensive governmental regulation in the United States. In particular, the U.S. Environmental Protection Agency (the "EPA") regulates the registration, labeling, advertising, promotion, distribution and sale of pest control products under the Federal Insecticide, Fungicide, and Rodenticide Act ("FIFRA") and related federal and state laws.

Under this regulatory framework, pest control products may generally be marketed or promoted only for uses that have been approved by the EPA and that are consistent with the product's approved labeling. Advertising and promotional activities relating to such products are subject to strict regulatory standards and may be reviewed by the EPA, applicable state regulatory agencies, and other governmental authorities. Promotion of pest control products for unapproved or off-label uses may give rise to enforcement actions, inquiries or investigations, and may result in civil, criminal and/or administrative penalties under applicable law.

In addition, federal and state environmental laws and regulations impose requirements relating to product registration, labeling, reporting, recordkeeping and distribution of pest control products. These requirements may vary by jurisdiction and are subject to change. Compliance with applicable regulatory requirements may involve administrative processes and may increase costs or result in delays in the commercialization or distribution of pest control products. Governmental authorities may seek injunctive relief or other remedies to enforce compliance with applicable environmental and pesticide-related laws and regulations.

<u>Regulations Relating to Data Privacy and Security</u>

Regulations, legislation or self-regulation relating to privacy, data collection and protection, e-commerce and internet advertising (including, behavioral advertising) and uncertainties regarding the application or interpretation of existing or newly adopted laws and regulations, could harm our business and subject us to significant legal liability for non-compliance. Our ability to either collect or use data could be restricted by new laws or regulations.

Our business is conducted through the internet and therefore, among other things, we are subject to the laws and regulations that apply to e-commerce and online businesses around the world. These laws and regulations are becoming more prevalent in the United States, Europe, Israel and elsewhere and may impede the growth our services. These regulations and laws may cover privacy, data collection and protection, location of data storage and processing, cybersecurity, e-commerce, content, use of "cookies", pricing, advertising, marketing, distribution of products, consumer protection, taxation and online payment services.

For example, we collect, use, maintain and otherwise process certain data about consumers of our products, partners, candidates and employees, consultants, and leads. Our ability to collect, use, maintain or otherwise process personal data has been, and could be further, restricted by existing and new laws and regulations relating to privacy and data collection and protection. In addition, some countries are considering or have enacted legislation requiring local storage and processing of data that could increase the cost and complexity of delivering our services.

If we were found in violation of any applicable laws or regulations relating to privacy, data protection, or security, in any jurisdiction, including in jurisdictions where we operate remotely (such as by selling to shoppers residing in such jurisdictions), our business may be materially and adversely affected and we would be liable for any damages and regulatory fines and would likely have to change our business practices. In addition, these laws and regulations could impose significant costs on us and could constrain our ability to use and process data in manners that may be commercially desirable.

While it is generally the laws of the jurisdiction in which a business is located that apply, there is a risk that data protection regulators of other countries may seek jurisdiction over our remotely activities in locations in which we process data or serve shoppers but do not have an operating entity. Where the local data protection and privacy laws of a jurisdiction apply, we may be required to register our operations in that jurisdiction or make changes to our business so that shopper data is only collected and processed in accordance with applicable local law. In addition, because our services are accessible worldwide, certain foreign jurisdictions may claim that we are required to comply with their privacy and data protection laws, including jurisdictions where we have no local entity, employees or infrastructure. In such cases, we may require additional legal review and resources to ensure compliance with any applicable privacy or data protection laws and regulations. In addition, in many jurisdictions there may in the future be new legislation that may affect our business and require additional legal review.

We also expect that there will continue to be new laws, regulations, and industry standards concerning privacy, data protection, and information security proposed and enacted in various jurisdictions. For example, in the European Economic Area, or the EEA, we are subject to the GDPR, which imposes stringent operational requirements regarding, among others, data use, sharing and processing, data breach notifications, data subject rights, documentation, and cross-border data transfers for EEA entities as well as non-EEA entities that offer goods or services to, or monitor, individuals in the EEA. Failure to comply with the GDPR could result in penalties for noncompliance (including possible fines of up to the greater of €20 million and 4% of our global annual turnover for the preceding financial year for especially severe violations, as well as the right to compensation for financial or non-financial damages claimed by individuals under Article 82 of the GDPR).

In addition to the GDPR, we are subject to the United Kingdom's Data Protection Act of 2018, or the U.K. GDPR, that imposes obligations and penalties similar to the GDPR including fines up to the greater of £17.5 million or 4% of global turnover. EEA and U.K. privacy laws are constantly developing, including through case law and regulatory guidance, which increases our compliance costs and regulatory exposure.

In the EEA and the U.K. under national laws, derived from the Directive 2002/58 on Privacy and Electronic Communications, or the ePrivacy Directive, informed and freely given consent is required for the placement of cookies and similar technologies on shoppers' devices, website users and imposes restrictions on electronic marketing, subject to some exemptions. The GDPR and U.K. regime also impose conditions on obtaining valid consent for cookies, such as a prohibition on pre-checked consents. Recent European court and regulatory decisions are driving increased attention to cookies and tracking technologies, which could lead to substantial costs, require significant systems changes, limit the effectiveness of our marketing activities, divert the attention of our technology personnel, adversely affect our margins, increase costs and subject us to additional liabilities.

Additionally, we are or may soon be subject to the CCPA, as amended by the California Privacy Rights Act, which came into effect on January 1, 2020 and, imposes heightened transparency obligations, adds restrictions on the "sale" or "share" of personal information (which it defines broadly), and creates new data privacy rights for California residents and carries significant enforcement penalties for non-compliance. The California Attorney General enforces the CCPA and can seek an injunction and civil penalties up to $7,500 per intentional violation and $2,500 per other violation. The CCPA also provides California consumers a private right of action for certain data breaches where they can recover up to $750 per incident, per consumer or actual damages, whichever is greater, and which is expected to increase data breach litigation. The CCPA may require us to modify our data practices and policies and to incur substantial costs and expenses in order to comply. Additional U.S. states have implemented, or are in the process of implementing, similar new laws or regulation (for example, the VCDPA that went into effect on January 1, 2023; the CPA, which went into effect on July 1, 2023; the CDPA, which went into effect on July 1, 2023; the UCPA, which went into effect on December 31, 2023; and most recently the DPDPA; the ICDPA; the NCDPA; and the NHPA, all of which came into effect on January 1, 2025, as well as the NJDPA which came into effect on January 15, 2025. Over the course of 2025 similar laws imposing new privacy rights and obligations will come into effect, including the Tennessee Information Protection Act on July 1, 2025; the Minnesota Consumer Data Privacy Act on July 31, 2025; and the Maryland Online Data Privacy Act on October. 1, 2025. Further, laws in all 50 states require companies to provide notice to consumers whose personal information has been disclosed or subject to unauthorized access as a result of a data breach. More generally, some observers have noted the trend toward more stringent privacy legislation and judicial action in the US, including similar laws and decisions in other U.S. states and a potential federal privacy law, all of which could increase our potential liability and adversely affect our business.

In addition, we are also subject to the Israeli Privacy Protection Law, 1981, or the Israeli Privacy Law, and its regulations, including but not limited to the Israeli Privacy Protection Regulations (Data Security) 2017, or the Data Security Regulations, that impose obligations with respect to the manner personal data is processed, maintained, transferred, disclosed, accessed and secured, as well as the guidelines of the Israeli Privacy Protection Authority. In addition, in 2023, the Privacy Protection Regulations (Provisions Regarding Information Transferred to Israel from the European Economic Area), 2023 were enacted and consequently provide, in certain cases, additional rights to data subjects from the EEA and Israel. In this respect, the Israeli Privacy Law and its Regulations including the Data Security Regulations may require us to adjust our data protection and data security practices, information security measures, certain organizational procedures, applicable positions (such as an information security manager) and other technical and organizational security measures. Failure to comply with the Israeli Privacy Law, its regulations and guidelines issued by the Privacy Protection Authority, may expose us to enforcement actions, administrative fines and penalties, litigation (including class actions) and in certain cases criminal liability.

Furthermore, on August 5, 2024, the Israeli parliament approved Amendment 13 to the Israeli Privacy Protection Law 1981, which will come into effect on August 14, 2025, or the Amendment. This Amendment enhances data security requirements, expands enforcement powers for the Privacy Protection Authority, introduces guidance for data transfers and imposes additional obligations on organizations handling personal data. The consequences of implementing the requirements under the Amendment could lead to substantial costs, require significant system changes, limit the effectiveness of our marketing activities, divert the attention of our technology personnel, adversely affect our margins, increase costs and subject us to additional liabilities. In addition, to the extent that any administrative supervision procedure is initiated by the Israeli Privacy Protection Authority that reveals certain irregularities with respect to our compliance with the Israeli Privacy Law, in addition to our exposure to administrative fines, civil claims (including class actions) and in certain cases criminal liability, we may also need to take certain remedial actions to rectify such irregularities, which may increase our costs.

We rely on information technology systems to operate and manage our business and to process, maintain, and safeguard information, including information related to our users, clients, partners, and personnel. This information is stored and managed within our internal information technology infrastructure or, in certain instances, on platforms maintained by third-party service providers. These systems, whether operated internally or externally, may be subject to breaches, failures, or disruptions as a result of, among other things, cyber-attacks, computer viruses, physical security breaches, natural disasters, accidents, power disruptions, telecommunications failures, new system implementations, or acts of terrorism or war. In the current environment, there are numerous and evolving risks to cybersecurity, data and privacy, including criminal hackers, hacktivists, state-sponsored intrusions, industrial espionage, employee malfeasance and human or technological errors. High-profile security breaches at other companies and in government agencies have increased in frequency and sophistication in recent years. Moreover, geopolitical tensions, particularly the Hamas-Israel and the Russia-Ukraine conflicts, have contributed to a surge in cyber-attacks targeting Israeli companies and products globally, posing a threat to critical infrastructure.

Any failure or perceived failure by our subsidiaries or by us to comply with our posted privacy policies, cookies policies, our privacy-related obligations to users or other third parties, or any other legal obligations or regulatory requirements relating to privacy, data protection, or data security may result in governmental investigations or enforcement actions, litigation, claims, or public statements against us by consumer advocacy groups or others and could result in significant liability, cause our users to lose trust in us, and otherwise materially and adversely affect our reputation and business. Furthermore, the costs of compliance with, and other burdens imposed by, the laws, regulations, other obligations, and policies that are applicable to the businesses of our users may limit the adoption and use of, and reduce the overall demand for, our e-commerce platforms and websites. Further, public scrutiny of, or complaints about, technology and e-commerce platform companies or their data handling or data protection practices, even if unrelated to our business, industry, or operations, may lead to increased scrutiny of technology and e-commerce platform companies, including us, and may cause government agencies to enact additional regulatory requirements, or to modify their enforcement or investigation activities, which may increase our costs and risks.

In Europe, the EU AI Act entered into force on February 2, 2025, with different provisions becoming gradually applicable on different dates. The EU AI Act applies to companies that develop, use and/or provide AI in the EU and includes requirements around transparency, conformity assessments and monitoring, risk assessments, human oversight, security, accuracy and general-purpose AI models. Furthermore, it includes fines of the higher of €35,000,000 or up to 7 percent of a company's total worldwide annual turnover for non-compliance with prohibited AI practices, or the higher of €7,500,000 or up to 1 percent of a company's total worldwide annual turnover for the supply of incorrect, incomplete, or misleading information to notified bodies and national competent authorities in certain contexts. In addition, on September 28, 2022, the European Commission proposed two Directives seeking to establish a harmonized civil liability regime for AI in the EU, in order to facilitate civil claims in respect of harm caused by AI and to include AI-enabled products within the scope of the EU's existing strict liability regime. The cost of complying with such laws or regulations could be significant and could increase our operating expenses, require technical changes, development and implementations, which could adversely affect our business, financial condition and results of operations.

**Recent Developments**

*Fort Technology Inc. Share Purchase Agreement*

On February 6, 2025, the Company entered into the Share Purchase Agreement with Jeffs' Brands Ltd., a company incorporated under the laws of the State of Israel, and Fort Products Limited, a wholly-owned U.K.-based subsidiary of Jeffs' Brands, pursuant to which, on the terms and subject to the conditions of the Share Purchase Agreement, Jeffs' Brands sold all of the issued and outstanding shares of Fort UK to us. The Acquisition closed on July 7, 2025. In connection with the consummation of Acquisition, we changed our name from "Impact Acquisitions Corp." to "Fort Technology Inc.". Pursuant to the Share Purchase Agreement, among other things, Jeffs' Brands sold to us, all of the issued and outstanding common shares of Fort UK, in consideration for 7,142,857 of our common shares and up to an additional 4,714,287 contingent right shares, each entitling the holding thereof to acquire one of our common shares for no additional consideration upon the achievement of certain pre-determined milestones, or the Contingent Right Shares, each at a deemed price per share of CAD 1.198722, representing a post-closing equity interest in us of 75.02%. The Acquisition was based on a total value of us of approximately CAD 4.8 million (approximately $3.4 million) (considering its cash position of at least CAD 700,000 (approximately $486,330), after transaction costs) and a total valuation ascribed to Fort of approximately CAD 17.1 million (approximately $12 million).

Pursuant to the Share Purchase Agreement, upon the achievement of certain milestones, the Contingent Right Shares will be issued to Jeffs' Brands as follows: (i) 1,571,429 common shares of the Company will be issued upon the completion of a transaction resulting in the listing of the Company's securities on the New York Stock Exchange or the Nasdaq Stock Market LLC, or another transaction resulting in the issuance of shares listed on a U.S. national securities exchange, to shareholders of the Company in exchange for their common shares of the Company, if such transaction is completed within 24 months from the date of closing of the transaction pursuant to the Share Purchase Agreement; (ii) 1,571,429 common shares of the Company will be issued upon the successful capital raising by the Company, within 48 months of the closing date of the transaction pursuant to the Share Purchase Agreement in equity and/or debt financing, an aggregate of $8 million or more; and (iii) 1,571,429 common shares of the Company will be issued upon the Company reaching annual revenues of a minimum of $15 million by December 31, 2028, as reflected in the Company's audited financial statements for such periods.

 

**C.** **Organizational Structure** 

Our organizational chart upon the effectiveness of the listing of our common shares on Nasdaq will be as follows: **update to 70.94%**

![](ea027728901_img1.jpg)

Pursuant to the Share Purchase Agreement, among other things, Jeffs' Brands sold to us, all of the issued and outstanding common shares of Fort UK, in consideration for 7,142,857 of our common shares and up to an additional 4,714,287 contingent right shares, each entitling the holding thereof to acquire one of our common shares for no additional consideration upon the achievement of certain pre-determined milestones. Upon the effectiveness of the listing of our common shares on Nasdaq, Jeff's Brands will hold 70.94% of our issued and outstanding share capital.

**D.** **Property, Plant and Equipment** 

Our registered offices are located at 3292 Production Way, Suite 501 Burnaby, British Columbia V5A 4R4, and our principal executive offices are located at 7, Mezada Street, Bnei Brak, Israel, where we lease office space, having a total area of approximately 257 square meters, or 2,766 square feet. Our current lease, which we entered into in September 2022 expires on September 30, 2027, following our exercise of an option to renew the lease for additional 2 years. Our monthly rent payment as of December 31, 2024, was approximately NIS 19,700 (approximately $6,350).

We consider our current office space sufficient to meet our anticipated needs for the foreseeable future and is suitable for the conduct of our business.

We also lease two warehouse facilities in the U.K. The first warehouse is approximately 4,667 square feet. The original lease agreement expired on February 23, 2025, but we continue to occupy the premises by mutual agreement with the leasers, until a new negotiated agreement is signed. The annual rent as of December 31, 2024 was £29,946 (approximately $40,507). On January 28, 2026, we signed a new lease agreement, the annual rent as of January 28, 2026 is £44,000 (approximately $59,500). The second warehouse is approximately 10,638 square feet, which Fort leases under a lease agreement effective as July 1, 2024, for a fixed five-year term with no early termination option. The annual rent as of December 31, 2024 was £52,000 (approximately $70,400).

We believe that all of our facilities are adequate for our current operations and provide sufficient capacity to support our anticipated growth in the foreseeable future.

We have contracts with third party warehouses in one location in the United Kingdom, one location in Italy. These facilities are used for storage of the products prior to the shipment of our products to Amazon's warehouses.

**ITEM 4A. UNRESOLVED STAFF COMMENTS**

None.

**ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS**

**A.** **Operating Results** 

 

*You should read the following discussion in conjunction with our audited consolidated financial statements including the related notes thereto, beginning on page F-1 of this registration statement. In addition to historical information, this discussion contains forward-looking statements that involve risks and uncertainties. You should read the sections of this registration statement titled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" for a discussion of the factors that could cause our actual results to differ materially from our expectations.*

***Overview***

We are an e-commerce CPG company focused on the assembly and sale of pest control products via the Amazon Marketplace utilizing the FBA and the FBM models. As at the date of this registration statement, we sell our products in the U.K., France, Germany, and other countries in Europe and we plan to sell our products in the U.S. in the future.

We utilize internal methodologies to analyze sales data and patterns on Amazon in order to identify existing stores, niches and products that have the potential for development and growth, as well as maximizing sales of its existing proprietary products. We also use our own skills, know-how and profound familiarity with Amazon's algorithm and all the tools that the FBA platform has to offer. In some circumstances we scale the products and improve them.

The Company, being Fort Technology Inc. (then known as Impact Acquisitions Corp.), was incorporated pursuant to the provisions of the BCBCA on December 5, 2019. The Company was a Capital Pool Company within the meaning of the policies of the TSX Venture Exchange. A Capital Pool Company is a company with no assets other than cash and no commercial operations. A Capital Pool Company uses its funds to seek out an investment opportunity. Following the Company's acquisition of Fort Products Limited in July 2025, which was a qualifying transaction under the policies of the TSX Venture Exchange, the Company ceased being a Capital Pool Company. The Company's common shares are listed on the TSXV under the symbol "FORT.V" and commenced trading after its qualifying transaction with Fort Products Limited on July 10, 2025.

The Company's wholly-owned subsidiary, Fort Products Limited, was incorporated under the laws of England and Wales on November 25, 2005, under the name Sussex P C S Limited, to become manufacturer and seller specializing in a range of amateur and professional products for the pest control and remedial repair industry. In January 2020, Sussex P C S Limited changed the company name to Fort Products Limited and since then operated an e-commerce platform, mainly through Amazon market place.

On March 9, 2023, Fort Products Limited was acquired by Jeffs' Brand Ltd, a company incorporated in Israel and listed on the Nasdaq Capital Market under the symbol "JFBR". Prior to the acquisition, Fort Products Limited's sole market was UK, but since 2024, it started selling its products on other Amazon marketplaces, such as France, Germany, Italy, and other European countries, and we plan to move also to Amazon.com.

***Recent Transactions***

 ****

*Fort Technology Inc. Share Purchase Agreement*

On February 6, 2025, the Company entered into the Share Purchase Agreement with Jeffs' Brands Ltd. and Fort Products Limited, pursuant to which, on the terms and subject to the conditions of the Share Purchase Agreement, Jeffs' Brands sold all of the issued and outstanding shares of Fort Products Limited to us. The Acquisition closed on July 7, 2025. In connection with the consummation of Acquisition, we changed its name from "Impact Acquisitions Corp." to "Fort Technology Inc.". Pursuant to the Share Purchase Agreement, among other things, Jeffs' Brands sold to us, all of the issued and outstanding common shares of Fort UK, in consideration for 7,142,857 of our common shares and up to an additional 4,714,287 contingent right shares, each entitling the holding thereof to acquire one of our common shares for no additional consideration upon the achievement of certain pre-determined milestones, representing a post-closing equity interest in us of 75.02%. Upon the effectiveness of the listing of our common shares on Nasdaq. 1,571,429 common shares, representing contingent right shares pursuant to the Share Purchase Agreement will be issued to Jeffs' Brands as the achievement of one of the milestones. See "Item 4B. Business Overview – Recent Developments – Impact Share Purchase Agreement" above for further information.

*August 2025 Private Placement*

 

On August 21, 2025, the Company closed a non-brokered private placement (the "August 2025 Private Placement") of convertible debentures (the "August 2025 Convertible Debentures") at a price of $1,452 per August 2025 Convertible Debenture for gross proceeds of $3,630,513. The August 2025 Convertible Debentures will mature on August 21, 2027, and bear interest at 10% per annum, payable quarterly with the first payment being for the period from August 21, 2025 to September 30, 2025. At the option of the holder, the principal amount of the August 2025 Convertible Debentures is convertible into units (each a, "August 2025 Unit"), at any time from August 21, 2025 until August 21, 2027 at a price equal to $1.862 per August 2025 Unit (the "August 2025 Conversion Price"). Each August 2025 Unit is comprised of one common share and one common share purchase warrant of the Company (the "August 2025 Warrants"). Each August 2025 Warrant will entitle the holder thereof to acquire one additional common share at an exercise price of $1.862 per common share until August 21, 2030.

On December 31, 2025, we received irrevocable conversion notices from the holders of our August 2025 Convertible Debentures pursuant to which, immediately following the effectiveness of the listing of our common shares on Nasdaq, an aggregate principal amount of US $3,630,513 of the August 2025 Convertible Debentures then outstanding will be automatically converted into 1,949,794 August 2025 Units at the August 2025 Conversion Price.

The August 2025 Convertible Debentures, and the securities issuable upon conversion of the August 2025 Convertible Debentures, were subject to a holding period until December 22, 2025, in compliance with applicable Canadian securities laws and the rules of the TSXV. The net proceeds from the August 2025 Private Placement were used for general working capital requirements and a loan investment. For additional information, see "EEH Loan" below.

The Company engaged two finders (the "Finders") in connection with the August 2025 Private Placement. In consideration for the services provided by the Finders, the Company paid to the Finders an aggregate of $155,074 and issued to the Finders 128,861 common share at a price of $1.862 per common share. Jeffs' Brands acquired an aggregate of 1,100 August 2025 Convertible Debentures for gross proceeds of $1,597,653, representing approximately 858,031 common shares on conversion of the August 2025 Convertible Debentures. Mr. Asaf Itzhaik, a director of the Company, acquired an aggregate of 65 Convertible Debentures for gross proceeds of $94,437, representing approximately 50,718 common shares on conversion of the August 2025 Convertible Debentures.

 

*EEH Loan*

On August 8, 2025, the Company entered into a loan agreement with EEH Ventures Limited ("EEH"), which was amended on January 13, 2026 (as amended, the "Loan Agreement"), for a loan of £2,000,000 (the "Loan"). The Loan accrues interest at a rate of 7.5% per annum, calculated on a simple interest basis. EEH is required to repay the Loan, including all interest payable, within three years from the date of the Loan Agreement. The Company will have the right, but not the obligation, to convert the outstanding principal amount and all interest accrued on the Loan into 100% of the share capital of Wigan Topco Limited ("Wigan") owned by EEH, which constitutes 35.8% of the outstanding share capital of Wigan. The Loan was initially convertible into shares of EEH and the January 2026 amendment modified the conversion feature such that the Loan is now convertible into shares of Wigan, which we believe is an attractive commercial opportunity, better aligned with our strategic objectives and is intended to enhance the potential economic value and strategic flexibility of our investment via the extension of the Loan. Pursuant to the Loan Agreement, Oxford Road Investments Limited ("Oxford"), an arm's length third party company incorporated under the laws of England and Wales operating a business as an owner of an office building in London, United Kingdom and a subsidiary of EEH, granted the Company a charge over any and all funds, receivables, or other monetary recoveries received by Oxford from the sale, refinancing, or other disposition of its assets or undertakings, remaining after (i) full and final repayment of all amounts (including principal, interest, fees, and costs) owed to a senior lender of Oxford and (ii) payment of any other amounts required by law to have priority over our security. The Company and Oxford entered into a guaranty letter dated August 15, 2025.

**Comparison of the Results for the Nine Months Ended September 30, 2025 and 2024**

***Results of Operations***

---

| | |
|:---|:---|
| | **Nine Months Ended September 30,** |
| <br>***U.S. dollars in thousands*** | **2024** |
| Revenues | $6444 |
| Cost of sales | $5188 |
| Gross Profit | $1256 |
|  | $|
| Sales and marketing | $435 |
| General and administrative | $168 |
| Other expenses | $116 |
| Operating profit (loss) | $537 |
| Financial expense (income), net | $- |
| Profit (loss) before taxes | $44 |
| Tax expenses | $493 |
| Net profit (loss) for the year | $93 |
|  | $400 |

---

***Revenues***

Our revenues consist of revenue derived from sales mainly on Amazon. The following table discloses the breakdown of our revenues, cost of sales and gross profit for the periods set forth below:

---

| | | |
|:---|:---|:---|
| | **Nine Months Ended<br> September 30,** | **Nine Months Ended<br> September 30,** |
| <br>***U.S. dollars in thousands*** | **2025** | **2024** |
| Revenues | $8050 | $6444 |
| Cost of sales | $7340 | $5188 |
| Gross profit | $710 | $1256 |

---

Our revenues for the nine months ended September 30, 2025, were $8,050 thousand compared to $6,444 thousand for the nine months ended September 30, 2024, an increase of $1,606 thousand, or 25%. The increase is mainly attributable to the significant growth in sales volume of our Roshield and Entopest product lines. Specifically, Roshield revenues increased by approximately $1,603 thousand, driven by the aggressive approach taken by our management to focus on sales of our Roshield product line on the Amazon platform and the continued expansion into the European market. Revenues from our Entopest product line also contributed to the growth, increasing by $267 thousand. These increases were partially offset by a combined decrease in revenues of $263 thousand in BirdGo and Rempro revenues. In parallel to the growth of sales, average selling price per unit was reduced by approximately 8%, which is attributable to ordinary-course commercial factors, including, but not limited to, changes in product mix resulting from higher sales volumes of lower-priced items in our pest control product line, competitive pricing adjustments made in response to competitor's pricing on the Amazon marketplace, targeted price reductions on certain products that we developed a lower cost alternative and promotion of new products or new markets (Europe).

 

***Cost of revenues***

Our cost of revenues consists of the purchase of finished goods, freight, cost of commissions to Amazon and change in inventory.

The following table discloses the breakdown of the cost of revenues for the periods set forth below:

---

| | | |
|:---|:---|:---|
| | **Nine Months Ended<br> September 30,** | **Nine Months Ended<br> September 30,** |
| <br>***U.S. dollars in thousands*** | **2025** | **2024** |
| Purchases and changes in inventory | $2694 | $1862 |
| Sales fulfillment commissions | $3796 | $2847 |
| Freight | $362 | $268 |
| Storage | $53 | $2 |
| Wages, salaries and related expenses | $356 | $143 |
| Packing Supplies | $55 | $66 |
| Other | $24 | $- |
| Total | $7340 | $5188 |

---

Freight and storage expenses for the nine months ended September 30, 2025, amounted to $415 thousand, compared to $270 thousand for the nine months ended September 30, 2024, an increase of $145 or 54%. The increase is mainly due to increase in freight costs due to shipping of goods that we sourced in China, which was stored in warehouses in China, in 2024 and 2025 to the U.K. rather than purchase of finished goods only from local suppliers in the U.K.

Sales fulfillment commissions for the nine months ended September 30, 2025, amounted to $3,796 thousand, compared to $2,847 thousand for the nine months ended September 30, 2024, ****an increase of $949 thousand or 33%. The increase is mainly attributable to the increase in sales and the fees related to those revenues as well as increase in revenues attributed to Europe where Amazon fees in mainland Europe are higher than in United Kingdom.

Purchases of finished goods and changes in inventory for the nine months ended September 30, 2025, amounted to $2,694 thousand, compared to $1,862 thousand for the nine months ended September 30, 2024, ****an increase of $832 or 45%. While we changed the countries from which we source our products in 2025 compared to 2024 as part of our inventory replenishment strategy, as further described above, the purchases and changes in inventory in relation to revenues was 33% for the nine months ended September 30, 2025 compared to 29% for the nine months ended September 30, 2024, which was derived from a reduction in average selling price per unit and changes in product mix.

Wages, salaries and related expenses for the nine months ended September 30, 2025, amounted to $356 thousand, compared to $143 thousand for the nine months ended September 30, 2024, ****an increase of $213 thousand or 149%. The increase is due to the change in the transfer pricing allocation method resulting from the new transfer pricing study conducted in 2025, which became effective from the beginning of the year, increased the salary expenses allocated to cost of revenues.

***Gross Profit***

Our gross profit for the nine months ended September 30, 2025, was $710 thousand, compared to gross profit of $1,256 thousand for the nine months ended September 30, 2024, a decrease of $545 thousand, or 43%. The decrease was primarily driven by higher cost of revenues, which increased at higher rate than revenues, reflecting higher finish goods costs, changes in product mix, increased logistics and storage expenses and changes in transfer pricing allocation method. In addition to the increase in cost of revenues, average selling price per unit was reduced.

**Operating Expenses**

Our current operating expenses consist of three components — marketing and sales expenses general and administrative expenses and other expenses.

***Sales and marketing Expenses***

Our sales and marketing expenses consist primarily of Amazon marketing fees, consultants and other sales and marketing expenses.

The following table discloses the breakdown of sales and marketing expenses for the periods set forth below:

---

| | | |
|:---|:---|:---|
| | **Nine Months Ended<br> September 30,** | **Nine Months Ended<br> September 30,** |
| <br>***U.S. dollars in thousands*** | **2025** | **2024** |
| Advertising | $615 | $418 |
| Wages, salaries and related expenses | $144 | $17 |
| Professional Services | $50 | $- |
| Total | $809 | $435 |

---

Sales and marketing expenses for the nine months ended September 30, 2025, amounted to $809 thousand, compared to $435 thousand for the nine months ended September 30, 2024, an increase of $374 thousand, or 86%. The increase is mainly attributable to an increase in advertising expenses on marketplace, which derives from the management approach to support growth of sales mainly when launching new products or in new territories, and the change in the transfer pricing allocation method resulted from the new transfer pricing study conducted in 2025, as described above.

***General and Administrative Expenses***

Our general and administrative expenses consist primarily of professional service, facilities, depreciation and amortization and other general and administrative expenses.

The following table discloses the breakdown of our general and administrative expenses for the periods set forth below:

---

| | | |
|:---|:---|:---|
| | **Nine Months Ended<br> September 30,** | **Nine Months Ended<br> September 30,** |
| <br>***U.S. dollars in thousands*** | **2025** | **2024** |
| Directors' fees | $30 | $19 |
| Professional services | $352 | $49 |
| Maintenance | $70 | $30 |
| Depreciation and amortization | $48 | $32 |
| IT software and consumables | $18 | $19 |
| Wages, salaries and related expenses | $32 | $- |
| Other | $82 | $19 |
| Total | $632 | $168 |

---

General and administrative expenses for the nine months ended September 30, 2025, amounted to $632 thousand, compared to $168 thousand for the nine months ended September 30, 2024, an increase of $463 thousand, or 276%. The increase is mainly attributable to higher audit and legal fees, increased compliance and reporting requirements, directors' and officers' insurance, and additional professional and corporate governance services. In addition, the change in the transfer pricing allocation method resulted from the new transfer pricing study conducted in 2025, as described above.

***Operating Profit***

Our operating loss for the nine months ended September 30, 2025, was $731 thousand, compared to an operating profit of $537 thousand for the nine months ended September 30, 2024, a decrease of $1,268 thousand, or 236%. The decrease in 2025 was due to factors mentioned above.

***Listing expenses***

Our listing expenses for the nine months ended September 30, 2025, were $3,784 thousand. These expenses primarily reflect the impact of the reverse recapitalization between Fort Technology Inc. and Fort Products Limited. The expenses relate to the reverse recapitalization with a capital pool company (CPC) and were recognized in accordance with IFRS. As a result, the Company recognized these expenses directly in the statements of profit or loss, consistent with the treatment of consideration paid for obtaining a stock exchange listing rather than for acquiring identifiable assets or businesses.

***Financial expenses***

Financial expenses consist of foreign currency exchange differences, mainly between USD, GBP and CAD, interest, discount amortization and bank fees.

Our financial income, net, was $105 thousand for the nine months ended September 30, 2025, compared to net financial income, net, of $44 thousand for the nine months ended September 30, 2024, an increase of $61 thousand, or 139%. The increase was primarily attributable to interest expenses and amortization of discount expenses in related to convertible debenture issued in August 2025 offset by interest income on convertible loan investment issued in August 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Finance expenses, net:

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| | | |
|:---|:---|:---|
|  | **Nine Months Ended<br> September 30,** | **Nine Months Ended<br> September 30,** |
|  | **2025** | **2024** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| Finance income: |  |  |
| Interest income | 32 | - |
| Total finance income | 32 | - |
| Finance expense: |  |  |
| Exchange rate differences | 57 | 38 |
| Bank fees | 6 | 2 |
| Interest expenses | 39 |  |
| Discount amortization expenses on convertible debenture | 27 |  |
| Other finance expenses | 8 | 4 |
| Total finance expenses | 137 | 44 |
| Finance expense (income), net | 105 | 44 |

---

***Net profit***

Our net loss for the nine months ended September 30, 2025, was $4,626 thousand, compared to net profit of $400 thousand for the nine months ended September 30, 2024, a decrease of $5,026 thousand, or 1,256%. The decrease in 2025 was due to the completion of the reverse recapitalization causing a listing expenses of 3,784 and related expenses for acting as a public company in addition to a decrease in gross profit.

**Comparison of the Results for the Year Ended December 31, 2024 and 2023**

***Results of Operations***

---

| | | |
|:---|:---|:---|
| | **Year Ended <br> December 31,** | **Year Ended <br> December 31,** |
| <br>***U.S. dollars in thousands*** | **2024** | **2023** |
| Revenues | $9875 | 6607 |
| Cost of sales | $8226 | 5807 |
| Gross Profit | $1649 | 800 |
| Sales and marketing | $656 | 189 |
| General and administrative | $326 | 292 |
| Other expenses | $139 | 374 |
| Operating profit (loss) | $528 | (55) |
| Financial expense (income), net | $31 | (41) |
| Profit (loss) before taxes | $497 | (14) |
| Tax expenses | $137 | 78 |
| Net profit (loss) for the year | $360 | (92) |

---

***Revenues***

Our revenues consist of revenue derived from sales mainly on Amazon. The following table discloses the breakdown of our revenues, cost of sales and gross profit for the periods set forth below:

---

| | | |
|:---|:---|:---|
| | **Year Ended<br> December 31,** | **Year Ended<br> December 31,** |
| <br>***U.S. dollars in thousands*** | **2024** | **2023** |
| Revenues | $9875 | 6607 |
| Cost of sales | $8226 | 5807 |
| Gross profit | $1649 | 800 |

---

Our revenues for the year ended December 31, 2024, were $9,875 thousand compared to $6,607 thousand for the year ended December 31, 2023, an increase of $3,268 thousand, or 49%. The increase is mainly attributable to an increase in the volume of sales of our Roshield product line, which accounted for approximately 76% of our total revenues in 2024. The growth in Roshiled sales resulted from management's strategy to increase online advertising on Amazon as well as the successful launch of new rodent control kits within the Roshield category. Revenues from Entopest and Rempro remained relatively stable, while BirdGo revenues decreased due to a strategic reallocation of marketing resources towards the Roshield product line. There were no material changes in prices of products during 2024 in relation to 2023. To date, we have not been materially impacted by the imposition of tariffs as we do not currently operate in the United States; however, future changes in tariff policies could adversely affect our costs or operations.

 ****

***Cost of revenues***

Our cost of revenues consists of the purchase of finished goods, freight, cost of commissions to Amazon and change in inventory.

The following table discloses the breakdown of the cost of revenues for the periods set forth below:

---

| | | |
|:---|:---|:---|
| | **Year Ended <br> December 31,** | **Year Ended <br> December 31,** |
| <br>***U.S. dollars in thousands*** | **2024** | **2023** |
| Purchases and changes in inventory | $3165 | $2923 |
| Sales fulfillment commissions | $4455 | $2630 |
| Freight | $296 | $81 |
| Storage | $17 | $- |
| Salary | $210 | $119 |
| Packing supplies | $83 | $54 |
| Total | $8226 | $5807 |

---

Freight and storage expenses for the year ended December 31, 2024, amounted to $313 thousand, compared to $81 thousand for the year ended December 31, 2023, an increase of $232 thousand or 286%. The increase is mainly due to freight costs related to inventory transport from China, resulting from the Company's decision to source goods from China, where manufacturing costs are lower, as opposed to the sourcing of such goods from local suppliers in the UK.

Sales fulfillment commissions for the year ended December 31, 2024, amounted $4,455 thousand, compared to $2,630 thousand for the year ended December 31, 2023, ****an increase of $1,825 thousand or 69%. The increase is mainly attributable to the increase in sales and launching into new markets in Europe, where the related Amazon fees rates are higher than in UK.

Purchases of finished goods and changes in inventory for the year ended December 31, 2024, amounted to $3,165 thousand, compared to $2,923 thousand for the year ended December 31, 2023, ****an increase of $242 thousand or 8.2%. The increase derives from an increase in revenues. The purchases and changes in inventory in relation to revenues was 32% compared to 44.24%, which derives from the management approach of sourcing goods from China and changes in product mix.

***Gross Profit***

Our gross profit for the year ended December 31, 2024, was $1,649 thousand, compared to gross profit of $800 thousand for the year ended December 31, 2023, an increase of $849 thousand, or 106%. The increase is mainly attributable to economies of scale resulting from the significant increase in revenue combined with a structural reduction in product costs. During 2024, management implemented a strategic shift in its supply chain to source products directly from manufacturers in China rather than local distributors in the UK. While in 2023 substantially all of our inventory purchases were made from UK suppliers, in 2024, approximately 56% of our purchases were sourced from China. This shift resulted in lower landed costs per unit, even after accounting for international shipping and customs duties. Additionally, the improvement in gross margin was supported by management's focus on high-margin product lines and the discontinuation of certain lower-margin products.

**Operating Expenses**

Our current operating expenses consist of three components — marketing and sales expenses, general and administrative expenses and other expenses.

***Sales and marketing Expenses***

Our sales and marketing expenses consist primarily of Amazon marketing fees, consultants and other sales and marketing expenses.

The following table discloses the breakdown of sales and marketing expenses for the periods set forth below:

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| | | |
|:---|:---|:---|
| | **Year Ended <br> December 31,** | **Year Ended <br> December 31,** |
| <br>***U.S. dollars in thousands*** | **2024** | **2023** |
| Advertising | $640 | 189 |
| Wages, salaries and related expenses | $16 | - |
| Total | $656 | 189 |

---

Sales and marketing expenses for the year ended December 31, 2024, amounted to $640 thousand, compared to $189 thousand for the year ended December 31, 2023. The increase of $467 thousand, or 247% for the year ended December 31, 2024, as compared to the year ended December 31, 2023, is mainly attributable to management strategy to increase advertising on the Amazon platform (pay per click) compared to previous owners strategy on 2023.

 ****

***General and Administrative Expenses***

Our general and administrative expenses consist primarily of professional service, facilities, depreciation and amortization and other general and administrative expenses.

The following table discloses the breakdown of our general and administrative expenses for the periods set forth below:

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| | | |
|:---|:---|:---|
| | **Year Ended <br> December 31,** | **Year Ended <br> December 31,** |
| <br>***U.S. dollars in thousands*** | **2024** | **2023** |
| Directors' fees | $25 | 148 |
| Professional services | $109 | 48 |
| Maintenance | $49 | 26 |
| Depreciation and amortization | $58 | 39 |
| IT software and consumables | $21 | 13 |
| Other | $64 | 18 |
| Total | $326 | 292 |

---

 ****

General and administrative expenses for the year ended December 31, 2024, amounted to $326 thousand, compared to $292 thousand for the year ended December 31, 2023. The increase is primarily attributable to increases in professional services expenses, maintenance expenses, IT expenses and other general and administrative expenses, offset by an decrease in directors' fees.

 ****

***Operating Profit***

Our operating profit for the year ended December 31, 2024, was $528 thousand, compared to an operating loss of $55 thousand for the year ended December 31, 2023, an increase of $583 thousand. The increase in 2024 was due to factors mentioned above.

***Financial expenses***

Financial expenses consist of foreign currency exchange difference, mainly USD to GBP, interest and bank fees.

Our financial expense, net was $31 thousand for the year ended December 31, 2024, compared to net financial income of $41 thousand for the year ended December 31, 2023, an increase of $72 thousand. The increase was primarily attributable to the exchange difference between USD and GBP that in 2024 created expenses while in 2023 created profits to the company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Finance expenses, net:

---

| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2024** | **2023** |
|  | **U.S. dollars <br> in thousands** | **U.S. dollars <br> in thousands** |
| Finance income: |  |  |
| Interest income |  | 2 |
| Exchange rate differences | - | 39 |
| Total finance income | - | 41 |
| Finance expense: |  |  |
| Exchange rate differences | 11 |  |
| Bank fees | 3 | - |
| Interest expenses | 17 | - |
| Total finance expenses | 31 | - |
| Finance expense (income), net | 31 | (41) |

---

***Net profit***

Our net profit for the year ended December 31, 2024, was $360 thousand, compared to net loss of $92 thousand for the year ended December 31, 2023, an increase of $452 thousand. The increase in 2024 was due to factors mentioned above.

**B.** **Liquidity and Capital Resources** 

***Overview***

Since our inception of the company, we have financed our operations primarily through our positive cashflow from operating activities. In 2023, the year we were acquired by Jeffs' Brands, we had a negative cashflow from operating activities, mainly due to increases in inventory caused by sourcing inventory from China, which requires purchases of inventory in higher scale and storing such inventory in our warehouses, whereas we previously relied on local suppliers in the United Kingdom that shipped many products directly to Amazon warehouses rather than through our warehouses, which generally allowed us to maintain inventory in smaller quantities and on an as-needed basis, and account receivables that was offset with increase in account payables. As of December 31, 2024, and 2023, we had approximately $546 thousand and $210 thousand, respectively, in cash and cash equivalents. As of September 30, 2025 and 2024, we had approximately $359 thousand and $546 thousand, respectively, in cash and cash equivalents.

***Nine Months Ended September 30, 2025 Compared to Nine Months September 30, 2024***

 ****

The table below presents our cash flow for the periods indicated:

---

| | | |
|:---|:---|:---|
| | **Nine Months Ended<br> September 30,** | **Nine Months Ended<br> September 30,** |
| <br>***U.S. dollars in thousands*** | **2025** | **2024** |
| Net cash used in operating activities | $(1070) | $(54) |
| Net cash used in investing activities | $(2483) | $(11) |
| Net cash from (used in) financing activities | $3182 | $(38) |
| Net increase (decrease) in cash and cash equivalents | $(371) | $(103) |

---

***Cash Flows from Operating Activities***

During the nine months ended September 30, 2025, we had negative cash flow from operations in the amount of $1,070 thousand compared to a negative cash flow of $54 thousand for the nine months ended September 30, 2024.

Our net cash from operating activities in 2025 consists primarily of net loss of $4,626 thousand, increase in Listing expense (non-cash) of $3,459 increase in related Share-based payment transactions of $252 thousand, increase in trade and other receivables of $603 thousand, increase in related party payable of $688 thousand, increase in inventory of $332 thousand.

***Cash Flows from Investing Activities***

During the nine months ended September 30, 2025, we had negative cash flow from investing activities in the amount of $2,483 thousand, compared to a negative cash flow of $11 thousand for the nine months ended September 30, 2024.

Our net cash used in 2025 in investing activities consists primarily of Investment in convertible loan receivable of $2,717 thousand partially offset by changes conversion of short-term deposits to cash and cash equivalents.

***Cash Flows from Financing Activities***

During the nine months ended September 30, 2025, we had cash flow from financing activities in the amount of $3,182 thousand, compared to a negative cash flow of $38 thousand for the nine months ended September 30, 2024.

 ****

Our net cash used in 2025 in financing activities primarily consists of Issuance of convertible debenture $3,222 thousand

 ****

***Year Ended December 31, 2024 Compared to Year Ended December 31, 2024***

The table below presents our cash flow for the periods indicated:

---

| | | |
|:---|:---|:---|
| | **Year Ended <br> December 31,** | **Year Ended <br> December 31,** |
| <br>***U.S. dollars in thousands*** | **2024** | **2023** |
| Net cash provided by (used in) operating activities | $523 | (306) |
| Net cash used in investing activities | $(132) | (2) |
| Net cash used in financing activities | $(59) | (247) |
| Net increase (decrease) in cash and cash equivalents | $332 | (555) |

---

 ****

Our net cash from operating activities was $523 for the year ended December 31, 2024, as compared to net cash used in operating activities of $306 for the year ended December 31, 2023. Our net cash used in investing activities was $132 for the year ended December 31, 2024, as compared to net cash used in investment activities of $2 for the year ended December 31, 2023. Our net cash used in financing activities was $59 for the year ended December 31, 2024, as compared to net cash used in investing activities of $247 for the year ended December 31, 2023.

The change in our liquidity for the year ended December 31, 2024, resulted from several factors, including:

***Cash Flows from Operating Activities***

 ****

Our net cash from operating activities in 2024 consists primarily of cash collections from customers of approximately $9.9 million, partially offset by cash payments for inventory purchases of approximately $8.2 million and other operating expenses of approximately $1.2 million. This compares to net cash used of $306 thousand in 2023.

***Cash Flows from Investing Activities***

Our net cash used in 2024 in investing activities consists primarily of purchase of property and equipment of $132 thousand. compared to $2 thousand in purchase of property and equipment in 2023.

***Cash Flows from Financing Activities***

Our net cash used in 2024 in financing activities consists of lease payments in the amount of $59 thousand compared to $24 thousand lease payments and dividend payment in the amount of $223 thousand in 2023.

***Current Outlook***

As of December 31, 2024 and September 30, 2025, our cash and cash equivalents were $546 thousand and $ thousand, respectively. We expect that our existing cash and cash equivalents as of September 30, 2025, will be sufficient to fund our current operations and satisfy our obligations for the next twelve months. In addition, our operating plans may change as a result of many factors that may currently be unknown to us, and we may need to seek additional funds sooner than planned.

Our future capital requirements will depend on many factors, including:

● the costs of manufacturing and shipment of our product;

● the costs of adding new marketplaces, mainly Amazon US;

● the costs of filing, prosecuting, enforcing and defending patent claims and other intellectual property rights;

● the potential costs of contracting with third parties to provide marketing and distribution services for us or for building such capacities internally; and

● the magnitude of our general and administrative expenses.

**C.** **Research and development, patents and licenses, etc.** 

None.

**D.** **Trend information** 

Other than as disclosed in "Item 5. Operating and Financial Review and Prospects — Components of Operating Results" and elsewhere in this registration statement, we are not aware of any trends, uncertainties, demands, commitments or events for the period from January 1, 2024 to December 31, 2024 that are reasonably likely to have a material effect on our total revenues, income, profitability, liquidity or capital resources, or that caused the disclosed financial information to be not necessarily indicative of future operating results or financial condition.

**E.** **Critical Accounting Estimates** 

We describe our material accounting policies more fully in Note 2 to our financial statements included. We prepare our financial statements in accordance with IFRS Accounting Standards, as issued by the International Accounting Standards Board. The preparation of these consolidated financial statements requires us to make estimates, assumptions and judgments that can significantly impact the amounts we report as assets, liabilities, revenue, costs and expenses and the related disclosures. We base our estimates on historical experience and other assumptions that we believe are reasonable under the circumstances. Our actual results could differ significantly from these estimates under different assumptions and conditions.

**Recent Accounting Pronouncements**

Please see Notes 2m and 2n to our audited consolidated financial statements included elsewhere in this registration statement for information regarding recent accounting pronouncements.

**Emerging Growth Company Status**

We qualify as an "emerging growth company" as defined in the JOBS Act. An emerging growth company may take advantage of specified reduced reporting and other burdens that are otherwise applicable generally to public companies. These provisions include not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act.

We intend to take advantage of these exemptions until we are no longer an "emerging growth company." We will remain an emerging growth company until the earlier of (1) the last day of the fiscal year (a) following the fifth anniversary of the completion of our first sale of common equity securities pursuant to an effective registration statement under the Securities Act, (b) in which we have total annual gross revenue of at least $1.235 billion, or (c) in which we are deemed to be a large accelerated filer, as defined in the rule under the Exchange Act, and (2) the date on which we have issued more than $1.0 billion in non-convertible debt during the prior three-year period.

**F.** **Disclosure of a Registrant's Action to Recover Erroneously Awarded Compensation** 

Not applicable.

**ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES**

**A.** **Directors and Senior Management** 

The following table sets forth information regarding our executive officers, key employees and directors as of the date of this registration statement:

---

| | | |
|:---|:---|:---|
| **Name** | **Age** | **Position** |
| Gabriel Kabazo | 52 | Chief Executive Officer |
| Ronen Zalayet | 57 | Chief Financial Officer and Corporate Secretary |
| Oz Adler <sup>(1)</sup> | 39 | Chairman of the Board |
| Liat Sidi <sup>(1)(2)(3)(4)</sup> | 50 | Director |
| Tamir Fayerman <sup>(1)(2)(3)(4)</sup> | 39 | Director |
| Ohad David <sup>(1)(2)(3)(4)</sup> | 38 | Director |
| Asaf Itzhaik <sup>(1)</sup> | 50 | Director |

---

(1) Independent Director (as defined under the Nasdaq listing rules)

(2) Member of the Audit Committee

(3) Member of the Compensation Committee

(4) Member of the Nominating and Corporate Governance Committee

**Gabriel Kabazo, Chief Executive Officer**

Mr. Kabazo has served as our Chief Executive Officer since July 7, 2025. Mr. Kabazo is an experienced finance and operations professional with over 20 years of experience supporting accounting, financing and IT operations in complex corporate settings. Since May 2020, Mr. Kabazo has served as CFO for Femto Technologies Inc. (NASDAQ: FMTO). Since July 2022, Mr. Kabazo has served as CFO for Plantify Foods, Inc. (TSXV:PTFY). Since January 2022, he has served as CFO for Starmet Ventures Inc. (CSE: STAR). From 2002-2011 he served as CFO for m-Wise Inc. (OTCBB:MWIS). From 2000-2002 served as Controller for On Track Innovations Ltd. (OTCQX:OTIVF). Mr. Kabazo received a B.A. in Accounting & Economics from Tel Aviv University in 1997 and earned his C.P.A. (Israel) designation in 1999. In 2006 he earned an MBA (Financing) from the University of British Columbia, Sauder School of Business.

**Ronen Zalayet, Chief Financial Officer**

Mr. Zalayet has served as our Chief Financial Officer since July 7, 2025. In addition, Mr. Zalayet has served as the Chief Financial Officer of Jeffs' Brands Ltd. (Nasdaq: JFBR) since October 2022. Mr. Zalayet has over 20 years of experience working in financial leadership positions in private and public companies, including in growing fintech and technology companies. Mr. Zalayet has served as the chief executive officer and director of Shemen Oil and Gas Resources Ltd, an Israeli company listed on the Tel Aviv Stock Exchange (TASE: SOG) that explores oil and natural gas from July 2021 until December 2023. From November 2019 to June 2021, Mr. Zalayet served as the chief financial officer of Colugo Systems Ltd., a company operating in the transportation field, and from 2016 to 2020, he served as a consultant, director and head of the Israeli office of Access Capital Markets Limited, a finance boutique company headquartered in the United Kingdom. Ms. Zalayet holds a B.A. in Economics and Accounting and an MBA from Tel Aviv University, Israel, and is a certified public accountant in Israel.

**Oz Adler, Chairman of the Board**

Mr. Adler has served as our director since September 2025. Mr. Adler has served as the Chief Financial Officer of SciSparc Ltd. since April 2018, and the Chief Executive Officer of SciSparc, and prior to that, from September 2017, he served as Vice President of Finance at SciSparc. Additionally, Mr. Adler has experience in a wide variety of managerial, financial, tax and accounting roles. Mr. Adler currently serves on the board of directors of numerous private, such as Polyrizon Ltd. (Nasdaq: PLRZ), Jeffs' Brands Ltd. (Nasdaq: JFBR), Rail Vision Ltd. (Nasdaq: RVSN) and Clearmind (Nasdaq: CMND), (FSE: CWY), and previously served as the chief financial officer of Medigus Ltd. (Nasdaq: MDGS) from December 2020 to April 2021. From 2012 until 2017, Mr. Adler was employed as a certified public accountant at Kost Forer Gabbay & Kasierer, a member of Ernst & Young Global. Mr. Adler holds a B.A. in Accounting and Business management from The College of Management, Israel.

**Liat Sidi, Director**

Ms. Sidi has served as a member of our board of directors since July 7, 2025. Ms. Sidi serves as the manager of the accounting department for Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) since 2010. Additionally, since 2010, Ms. Sidi has served as an accountant at Sidi Liat Accounting Services. Since August 2020, she has also served as a director for Plantify Foods, Inc. (TSXV: PTFY), a minority-owned shareholder of the Company, and SciSparc Ltd. (Nasdaq: SPRC), as a director for N2OFF, Inc. (Nasdaq: NITO), since November 2023, and as a director for Polyrizon Ltd. (Nasdaq: PLRZ), since October 2024. Ms. Sidi previously served as an accountant for Panaxia Labs Israel Ltd. (TASE: PNAK) from 2015 to 2020 and as an accountant for Soho Real Estate Ltd. from 2015 to 2016. Ms. Sidi also served as an accountant for Feldman-Felco Ltd. from 2006 to 2010 and as an accountant for Eli Abraham Accounting Firm from 2000 to 2006. Ms. Sidi completed tax, finance and accounting studies in Ramat Gan College of Accounting. Ms. Sidi is a certified public accountant in Israel.

**Tamir Fayerman, Director**

Mr. Fayerman has served as a member of our board of directors since July 7, 2025. Mr. Fayerman is a vision-driven professional with a career-long record of marketing operations, business development, and project management success. Mr. Fayerman has been the CEO of Onar Estate, a real estate marketing and development company, since 2024, and was previously the Head of Marketing and Sales – Real Estate of Four Season Real Estate Group Ltd. between 2022 and 2024. Additionally, Mr. Fayerman acted as the Head of Marketing and Sales of OM London Ltd. between 2020 and 2021, and an Income Statement Unit Manager of Triola between 2011 to 2020.

**Ohad David, Director**

Mr. David has served as a member of our board of directors since July 7, 2025. Mr. David is a businessperson with a successful history in fostering business relationships across various industries. Mr. David has an extensive experience in international trading, especially in importing and exporting precious commodities. Since January 2022, Mr. David has served as the Chief Executive Officer and Director of Starmet Ventures Inc. (CSE:STAR), an exploration company that focuses on mineral resource properties in Canada and the United States. Mr. David also serves as a Director of Stardust Solar Energy Inc. (TSXV: SUN), a franchisor of renewable energy installation services in North America. In addition, since 2009, Mr. David has operated Ohad Diamonds, Inc., a diamond retail company that he founded.

**Asaf Itzhaik, Director**

Mr. Itzhaik has served as a member of our board of directors since July 7, 2025. Mr. Itzhaik is a seasoned international businessman in retail, BTC, BTB and real estate. Mr. Itzhaik has served as the chief executive officer of A.K.A Optics Ltd., a manufacturer of adaptive optics, since 1994 and as a member of the board of directors of A.K.A Optics Ltd. since 1998. Mr. Itzhaik also serves as a member of the board of directors of Gix Internet Ltd. (TASE: GIX) since August 2021, Plantify Foods, Inc. (TSXV: PTFY), since August 2023, N2OFF, Inc. (Nasdaq: NITO), since December 2023, Clearmind Medicine Inc. (Nasdaq:CMND), since November 2022, Polyrizon Ltd.(Nasdaq: PLRZ), since May 2024, Rani Zim Shopping Centers Ltd. (TASE: RANI) since August 2022 and has also served as an external director of JFBR' Brands Ltd. (Nasdaq: JFBR) from August 2022 until November 2023. Mr. Itzhaik is a certified optometrist and graduated a program in corporate board leadership in Merkaz Hashilton Hamkomi, Israel. Mr. Itzhaik has completed a continuing education director's course in Israel.

***Family Relationships***

There are no family relationships between any members of our executive management and our directors.

 ****

***Arrangements for Election of Directors and Members of Management***

There are no arrangements or understandings with major shareholders, customers, suppliers or others pursuant to which any of our executive management or our directors were selected. See "Item 7B — Major Shareholders and Related Party Transactions — Related Party Transactions" for additional information.

**B.** **Compensation** 

The following table presents in the aggregate all compensation we paid to all of our directors and senior management as a group for the year ended December 31, 2025. The table does not include any amounts we paid to reimburse any of such persons for costs incurred in providing us with services during this period.

All amounts reported in the table below reflect our cost, in United States dollars. Amounts paid in Canadian dollars are translated into United States dollars at the rate of CAD$1.3706 = US$1.00 for the year ended December 31, 2025 and CAD$1.3698 = US$1.00 for the year ended December 31, 2024, based on the average representative rate of exchange between the Canadian dollar and the Unites States dollars as reported by the Bank of Canada.

---

| | | |
|:---|:---|:---|
| | **For the year ended <br> December 31,** | **For the year ended <br> December 31,** |
| <br>***(USD in thousands)*** | **2025** | **2024** |
| **Compensation of key management personnel of the Company:** |  |  |
| &nbsp;&nbsp;&nbsp;CEO management fees | $28 | $- |
| &nbsp;&nbsp;&nbsp;Share-based payment to CEO | 24 |  |
| &nbsp;&nbsp;&nbsp;CFO management fees | 32 |  |
| &nbsp;&nbsp;&nbsp;Share-based payment to CFO | 24 |  |
| **Other related party transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;Directors' fees | 40 | 25 |
| &nbsp;&nbsp;&nbsp;Share-based payment to Directors | 30 |  |
| &nbsp;&nbsp;&nbsp;Share-based payment to Chairman | 6 | - |
| **All directors and officers as a group** | $184 | $25 |

---

For so long as we qualify as a foreign private issuer, we will not be required to comply with the proxy rules applicable to U.S. domestic companies regarding disclosure of the compensation of certain executive officers on an individual basis. Pursuant to applicable Canadian Securities Laws, and as the Company is currently a "venture issuer" as defined in National Instrument 51-102 – *Continuous Disclosure Obligations*, we are required to disclose the annual compensation of each of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) the Company's Chief Executive Officer ("CEO"), including an individual performing functions similar to a CEO;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) the Company's Chief Financial Officer ("CFO") , including an individual performing functions similar to a CFO;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) the Company (or its subsidiary)'s most highly compensated executive officers, other than the CEO and CFO (or an individual otherwise listed in a) or b)), who were serving as executive officers as at the applicable year end, and whose total compensation was more than $150,000 for the financial year ended; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) each individual who would be a named executive officer under paragraph (c) but for the fact that the individual was neither an executive officer of the Company, of which there are none.

Upon the listing of the Company's securities on the Nasdaq, the Company will cease to be a "venture issuer", and will be required to disclose the annual compensation of each of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) the Company's CEO, including an individual performing functions similar to a CEO;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) the Company's CFO, including an individual performing functions similar to a CFO;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) the Company (or its subsidiary)'s three most highly compensated executive officers, other than the CEO and CFO (or an individual otherwise listed in a) or b)), who were serving as executive officers as at the applicable year end, and whose total compensation was more than $150,000 for the financial year ended; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) each individual who would be a named executive officer under paragraph (c) but for the fact that the individual was neither an executive officer of the Company, of which there are none.

This disclosure will not be as extensive as that required of a U.S. domestic issuer.

***Certain Information Concerning Equity Awards to Directors and Executive Officers***

The following tables set forth information, as of December 31, 2025 concerning all outstanding equity awards to our directors and executive officers as of such date.

**Options**

As of December 31, 2025, options to purchase 8,286 common shares were granted to our directors and executive officers under our Stock Option Plan, or the Option Plan. The options have at a weighted average exercise price of 1.40 CAD per share. The following table sets forth information regarding options granted to our executive officers and directors during the year ended December 31, 2025 that are outstanding as of the date of this filing:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br>**Name** | <br>**Grant Date** |<br>**Stock<br> Options** | **Weighted<br> Average**<br>**Options**<br>**Exercise<br> Price per<br> share** |<br>**Shares**<br>**vested <br> and <br> unexercised** |<br>**Shares<br> unvested** | <br>**Expiration<br> Date** |
| Gabriel Kabazo, CEO | March 9, 2022 | 8286 | $1.40 CAD | 8286 | 0 | March 9, 2027 |
| Ronen Zalayet, CFO and Corporate Secretary |  |  | $- |  |  |  |
| Oz Adler, Chairman of the Board |  |  |  |  |  |  |
| Liat Sidi, Director |  |  | $- |  |  |  |
| Tamir Fayerman, Director |  |  | $- |  |  |  |
| Ohad David, Director |  |  | $- |  |  |  |
| Asaf Itzhaik, Director |  |  | $- |  |  |  |

---

**RSUs**

As of December 31, 2025, 139,284 restricted share units ("RSUs") were granted to our directors and executive officers under the Option Plan. The following table sets forth information regarding RSUs granted to our executive officers and directors during the year ended December 31, 2025 that are outstanding as of the date of this filing:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Name** | **Grant Date** | **Shares<br> subject to the <br> RSUs** | **RSUs <br> vested** | **RSUs<br> Unvested** | **Vesting Schedule** |
| Gabriel Kabazo, CEO | September 15, 2025 | 42857 | – | 42857 | Half of the RSUs will vest after one year and the other half will vest in four tranches over the second year from the date of grant. |
| Ronen Zalayet, CFO and Corporate Secretary | September 15, 2025 | 42857 | – | 42857 | Half of the RSUs will vest after one year and the other half will vest in four tranches over the second year from the date of grant. |
| Oz Adler, Chairman of the Board | September 15, 2025 | 10714 | – | 10714 | Half of the RSUs will vest after one year and the other half will vest in four tranches over the second year from the date of grant. |
| Liat Sidi, Director | September 15, 2025 | 10714 | – | 10714 | Half of the RSUs will vest after one year and the other half will vest in four tranches over the second year from the date of grant. |
| Tamir Fayerman, Director | September 15, 2025 | 10714 | – | 10714 | Half of the RSUs will vest after one year and the other half will vest in four tranches over the second year from the date of grant. |
| Ohad David, Director | September 15, 2025 | 10714 | – | 10714 | Half of the RSUs will vest after one year and the other half will vest in four tranches over the second year from the date of grant. |
| Asaf Itzhaik, Director | September 15, 2025 | 10714 | – | 10714 | Half of the RSUs will vest after one year and the other half will vest in four tranches over the second year from the date of grant. |

---

Our compensation policies are based on the principles that compensation should, to a significant extent, be reflective of the financial performance of our executive officers and directors, and that a significant portion of executive officers' and directors' compensation should provide long-term incentives. The Board and Compensation Committee of the Board, or the Compensation Committee, seeks to have compensation of our directors and executive officers set at levels that are sufficiently competitive so that we may attract, retain and motivate highly qualified directors and executive officers to contribute to our success. In assessing the overall compensation for directors and executive officers, the Board and Compensation Committee considers the Company's performance, relative stockholder return and industry position, general industry data, and awards given to our executive officers in past years. It is our general compensation philosophy to provide a blend of base salaries/consulting fees, incentive bonuses and equity-based compensation.

The Company has a new omnibus equity incentive plan (the "**Equity Incentive Plan**"), which was adopted by the Board of Directors on July 21, 2025, and approved by the Company's shareholders at the annual general meeting on August 21, 2025. The Equity Incentive Plan replaces and supersedes the Company's previous "rolling 10%" Option Plan that was originally adopted on June 25, 2021, and last approved by the shareholders of the Company on June 27, 2024. The Option Plan authorized the issuance of up to 10% of the Shares issued and outstanding from time to time for options.

The Equity Incentive Plan is a fixed plan whereby the aggregate number of common shares of the Company that may be issued upon the exercise or settlement of performance-based awards granted shall not exceed up to 20% of the Company's issued common shares as at the date of implementation, which maximum was fixed at 1,904,478 common shares by the Board on July 21, 2025 (representing 20% of the Company's issued and outstanding common shares as at the Record Date).

If the Equity Incentive Plan is not approved by the shareholders of the Company, the Equity Incentive Plan will terminate and the Company will revert to its previous "rolling 10%" Stock Option Plan.

On September 15, 2025, the Company granted 139,284 RSUs to officers and members of the board of directors and 128,572 RSUs to advisors of the Company under the Equity Incentive Plan. Each RSU entitles the holder to receive one Share of the Company without additional consideration. Half of the RSUs will vest after one year and the other half will vest in four tranches over the second year from the date of grant.

***Elements of Compensation***

 

*Base Salary/Consulting Fees*

Each executive officers receives a fee, which constitutes a significant portion of the executive officer's compensation package. Consulting fees are paid for discharging day-to-day duties and responsibilities and reflects the executive officer's performance over time, as well as that individual's particular experience and qualifications.

*Incentive Bonus*

Incentive bonuses, in the form of cash payments, are designed to add a variable component of compensation based on corporate and individual performances for each officer and employee. Both individual and corporate performances are also taken into account. No bonuses were paid to our executive officers during the most recently completed financial year.

*Equity-Based Compensation*

Our directors, officers, employees and consultants are eligible under our Equity Incentive Plan to receive grants of equity incentive securities. The Omnibus Plan is an important part of our long-term incentive strategy for its officers and directors, permitting them to participate in appreciation of the market value of the Common Shares over a stated period of time. The Omnibus Plan is intended to reinforce commitment to long-term growth in profitability and shareholder value.

The Board believes that the Equity Incentive Plan Plan aligns the interests of our executive officers and the Board with shareholders by linking a component of executive compensation to the longer term performance of the Common Shares.

***Compensation Risk***

The Board has not formally considered the implications of risks associated with our compensation policies and practices as, in their view, the current structure of our executive compensation arrangements is focused on long-term value and is designed to correlate to the long-term performance of the Company, which includes but is not limited to performance of its share price.

***Financial Instruments***

Except as may be prohibited by law, our executive officers and directors are not currently prohibited from purchasing financial instruments, such as prepaid variable forward contracts, equity swaps, collars or units of exchange funds, that are designed to hedge or offset a decrease in market value of equity securities granted as compensation or held, directly or indirectly, by an executive officer or director. To our knowledge, none of our executive officers or directors have entered into or purchased such a financial instrument.

***Share-based and option-based Awards***

As discussed above, the Equity Incentive Plan is maintained for our directors, officers, consultants and employees and any of our present and future subsidiaries. The CEO will make initial recommendations to the board of directors on the grant of equity incentive securities, taking into account contribution of eligible individuals. The board of directors of the Company will then determine the appropriateness of all equity incentive securities, based on both individual and Company performance in any given year, and will take into consideration the levels of compensation paid to persons in the same or similar management positions at comparable companies, in making such recommendations.

***Option-based Awards***

Pursuant to the Equity Incentive Plan, an option exercise price cannot be less the Discounted Market Price (as such term is defined in the policies of the TSX Venture Exchange) on the date of grant of the option. The purchase price for the Common Shares under each option shall be determined by the board of directors acting as the plan administrator of the Equity Incentive Plan. The maximum term is ten (10) years. There are no specific vesting provisions under the Omnibus Plan, other than in relation to investor relations service providers. Options are non-assignable and non-transferable other than by will or by the laws of descent and distribution. As at the date hereof, there are 103,196 stock options and 535,714 RSUs outstanding under the Equity Incentive Plan, which represents approximately 16.77% of the Common Shares reserved for issuance under the Equity Incentive Plan. Please see "Item 6.A. Directors, Senior Management and Employees – Share Ownership – Omnibus Equity Incentive Plan" below, for a summary of the Omnibus Plan.

***Compensation Governance***

Given the Company's size and stage of operations, it plans to establish a Compensation Committee upon the effectiveness of the listing of its common shares on Nasdaq or formalized any guidelines with respect to compensation at this time.

The Board determines director compensation from time to time. Directors are not generally compensated in their capacities as such but the Company may, from time to time, grant to its directors incentive stock options to purchase common shares in the capital of the Company pursuant to the terms of the Option Plan and in accordance with the TSX Venture Exchange policies.

The Board as a whole determines executive compensation from time to time. The Company does not have a formal compensation policy. The main objectives the Company hopes to achieve through its compensation are to attract and retain executives critical to the Company's success, who will be key in helping the Company achieve its corporate objectives and increase shareholder value. The Company looks at industry standards when compensating its executive officers.

 ****

***Pension Plan Benefits***

No benefits were paid, and no benefits are proposed to be paid to any of our executive officers under any pension or retirement plan.

***Termination and Change of Control Benefits***

No Termination or Change of control benefits were paid or are proposed to be paid to any of our executive officers.

***Directors Compensation***

For a description of the terms of our options and option plans, see "Item 6.A. Directors, Senior Management and Employees – Share Ownership – Omnibus Equity Incentive Plan" below.

***Employment and Service Agreements with Executive Officers***

We have entered into written employment and/or service agreements with each of our executive officers. All of these agreements contain customary provisions regarding confidentiality of information and assignment of inventions. However, the enforceability of the noncompetition provisions may be limited under applicable law. In addition, we have entered into our standard form of indemnification agreement, in the form filed as an exhibit to this registration statement, with each of our directors and members of our senior management. Each such indemnification agreement provides the indemnified person with indemnification to the maximum extent permitted under applicable law and up to a certain amount, and to the extent that these liabilities are not covered by directors and officers insurance or other indemnification agreements. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant, we have been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.

***Directors' Service Contracts***

We do not have written agreements with any director providing for benefits upon the termination of his employment with the Company.

***Equity Incentive Plans***

See "Item 6.E. Share Ownership–Stock Option Plan" below.

**C.** **Board Practices** 

Except as stated below, we intend to comply with the rules generally applicable to U.S. domestic companies listed on the Nasdaq. We may in the future decide to use other foreign private issuer exemptions with respect to some of the other Nasdaq listing requirements. Following our home country governance practices, as opposed to the requirements that would otherwise apply to a company listed on the Nasdaq, may provide less protection than is accorded to investors under the Nasdaq Rules applicable to U.S. domestic issuers.

The Canadian securities regulatory authorities have issued corporate governance guidelines pursuant to National Policy 58-201—*Corporate Governance Guidelines*, or the Corporate Governance Guidelines, or NP 58-201, together with certain related disclosure requirements pursuant to National Instrument 58-101—*Disclosure of Corporate Governance Practices*, or NI 58-101. The Corporate Governance Guidelines are recommended as "guidance" for issuers to follow. We recognize that good corporate governance plays an important role in our overall success and in enhancing shareholder value and, accordingly, we have adopted certain corporate governance policies and practices which reflect our consideration of the recommended Corporate Governance Guidelines.

The disclosure set out below includes disclosure required by NI 58-101 describing our approach to corporate governance in relation to the Corporate Governance Guidelines.

 ****

***Composition of our Board***

Our Board currently consists of five directors. Pursuant to the policies of the TSX Venture Exchange, we must have no fewer than three directors. Pursuant to our articles, a director may be removed with or without cause, prior to expiration of the director's term, by a special resolution, being a resolution passed by at least two-thirds of the votes cast by shareholders present in person or by proxy at a meeting and who are entitled to vote. The directors are appointed at the annual general meeting of shareholders and the term of office for each of the directors will expire at the time of our next annual shareholders meeting. Our articles of incorporation provide that, between annual general meetings of our shareholders, the directors may appoint one or more additional directors, but the number of additional directors may not at any time exceed one-third of the number of directors who held office at the expiration of the last meeting of our shareholders. Under the BCBCA, there is no minimum number of directors required to be resident Canadians.

***Director Term Limits and Other Mechanisms of Board Renewal***

Our Board has not adopted director term limits or other automatic mechanisms of board renewal. Rather than adopting formal term limits, mandatory age-related retirement policies and other mechanisms of board renewal, our Board will develop a skills and competencies matrix for our Board as a whole and for individual directors. Our Board will also conduct a process for the assessment of our Board, each committee and each director regarding his or her effectiveness and contribution, and will report evaluation results to our Board on a regular basis.

***Director Independence under Canadian Regulation***

Under NI 58-101, a director is considered to be independent if he or she is independent within the meaning of Section 1.4 of National Instrument 52-110—*Audit Committees*. Section 1.4 of NI 52-110 generally provides that a director is independent if he or she has no direct or indirect "material relationship" with the issuer which could, in the view of the issuer's board of directors, be reasonably expected to interfere with the exercise of the director's independent judgment. Notwithstanding the foregoing, the following are deemed as being in a material relationship: (a) an individual who is, or has been within the last three years, an employee or executive officer of the issuer; (b) an individual whose immediate family member is, or has been within the last three years, an executive officer of the issuer; (c) an individual who: (i) is a partner of a firm that is the issuer's internal or external auditor, (ii) is an employee of that firm, or (iii) was within the last three years a partner or employee of that firm and personally worked on the issuer's audit within that time; (d) an individual whose spouse, minor child or stepchild, or child or stepchild who shares a home with the individual: (i) is a partner of a firm that is the issuer's internal or external auditor, (ii) is an employee of that firm and participates in its audit, assurance or tax compliance (but not tax planning) practice, or (iii) was within the last three years a partner or employee of that firm and personally worked on the issuer's audit within that time; (e) an individual who, or whose immediate family member, is or has been within the last three years, an executive officer of an entity if any of the issuer's current executive officers serves or served at that same time on the entity's compensation committee; and (f) an individual who received, or whose immediate family member who is employed as an executive officer of the issuer received, more than $75,000 in direct compensation from the issuer during any 12 month period within the last three years.

Our Board has undertaken a review of the independence of each director. Based on information provided by each director concerning his or her background, employment and affiliations, our Board has determined that Liat Sidi, Tamir Fayerman, Ohad David, Asaf Itzhaik and Oz Adler, representing all of the members of our Board, are "independent" as that term is defined under the Nasdaq Rules and NI 58-101. In making this determination, our Board considered the current and prior relationships that each non-employee director has with our Company and all other facts and circumstances our Board deemed relevant in determining their independence, including the beneficial ownership of our shares by each non-employee director.

Certain members of our Board are also members of the boards of other public companies. Our Board has not adopted a director interlock policy, but is keeping informed of other public directorships held by its members.

 ****

***Mandate of the Board of Directors***

Our Board is responsible for supervising the management of our business and affairs, including providing guidance and strategic oversight to management. In fulfilling its mandate, the Board is, among other things, responsible for the following: :

● appointing our Chief Executive Officer;

● developing the corporate goals and objectives that our Chief Executive Officer is responsible for meeting and reviewing the performance of our Chief Executive Officer against such corporate goals and objectives;

● taking steps to satisfy itself as to the integrity of our Chief Executive Officer and other executive officers and that our Chief Executive Officer and other executive officers create a culture of integrity throughout the organization;

● reviewing and approving our code of conduct and reviewing and monitoring compliance with the code of conduct and our enterprise risk management processes;

● reviewing and approving management's strategic and business plans and our financial objectives, plans and actions, including significant capital allocations and expenditures; and

● reviewing and approving material transactions not in the ordinary course of business.

***Meetings of Independent Directors***

Our Board will hold regularly-scheduled quarterly meetings as well as *ad hoc* meetings from time to time. The independent members of our Board will also meet, from time to time as may be required, without the non-independent directors and members of management before or after each regularly scheduled Board meeting.

***Monitoring Compliance with the Code of Conduct***

Our Audit Committee is responsible for reviewing and evaluating the code of conduct at least annually and recommending any necessary or appropriate changes to our Board for consideration. The Audit Committee assists our Board with the monitoring of compliance with the code of conduct, and is responsible for considering any waivers therefrom (other than waivers applicable to members of the Audit Committee or waivers applicable to our directors or executive officers, which shall be subject to review by our Board as a whole).

***Requirement for Directors and Officers to Disclose Interest in a Contract or Transaction***

In accordance with the BCBCA, each director and officer must disclose the nature and extent of any interest that he or she has in a material contract or material transaction whether made or proposed with us, if the director or officer is a party to the contract or transaction, is a director or an officer or an individual acting in a similar capacity of a party to the contract or transaction, or has a material interest in a party to the contract or transaction. Subject to certain limited exceptions under the BCBCA, no director may vote on a resolution to approve a material contract or material transaction which is subject to such disclosure requirement.

As of the date hereof, except as otherwise disclosed in this registration statement on Form 20-F, to the knowledge of the Board or the management of the Company, there are no material interests, whether direct or indirect, of any informed person of the Company, any proposed director of the Company, or any associate or affiliate of any informed person or proposed director, in any transaction since the commencement of the Company's most recently completed financial year or in any proposed transaction which has materially affected or would materially affect the Company of any of its subsidiaries.

 ****

***Complaint Reporting***

In order to foster a climate of openness and honesty in which any concern or complaint pertaining to a suspected violation of the law, our code of conduct or any of our policies, or any unethical or questionable act or behavior, our code of conduct will require that our employees promptly report the violation or suspected violation. In order to ensure that violations or suspected violations can be reported without fear of retaliation, harassment or an adverse employment consequence, we will adopt a whistleblowing policy which will contain procedures that are aimed to facilitate confidential, anonymous submissions of complaints by our directors, officers, employees and others.

***Controlled Company; Foreign Private Issuer***

Upon the effectiveness of the listing of our common shares on Nasdaq, Jeffs' Brands will hold approximately 70.94% of our issued and outstanding common shares and will be able to exercise approximately 70.94% of the total voting power of our issued and outstanding common shares. As a result, we will be a "controlled company" as defined under the Nasdaq Listing Rules. For so long as we are a "controlled company", we are permitted to elect to rely, and may rely, on certain exemptions from corporate governance rules, including:

● an exemption from the rule that a majority of our board of directors must be independent directors;

● an exemption from the rule that requires a compensation committee comprised entirely of independent directors with a written charter addressing the committee's purpose and responsibilities; and

● an exemption from the rule that our director nominees must be selected or recommended solely by independent directors or by a nominations committee that consists entirely of independent directors with a written charter or board resolution addressing the nominations process.

Although we do not intend to rely on the "controlled company" exemptions under the Nasdaq Listing Rules, we could elect to rely on one or more of these exemptions in the future. If we elect to rely on any such exemptions, you will not have the same protections afforded to shareholders of companies that are subject to these corporate governance requirements. Our status as a "controlled company" could cause our common shares to look less attractive to certain investors or otherwise harm the trading price of the common shares. Please see "Item 3.D Risk Factors—General Risk Factors—We will be a "controlled company" as defined under the Nasdaq Listing Rules. Although we do not intend to rely on the 'controlled company' exemptions under the Nasdaq Listing Rules, we could elect to rely on one or more of these exemptions in the future and you will not have the same protection afforded to shareholders of companies that are subject to these corporate governance requirements."

In addition, as a foreign private issuer, we will also be entitled to follow home country practices in lieu of certain corporate governance requirements of Nasdaq, including the Nasdaq requirement to have a board comprised of a majority of independent directors, independent director oversight of executive compensation and nomination of directors, and other matters. Although we do not intend to rely on such exemptions, if we do in the future, you may not have the same protections afforded to shareholders of companies that are not foreign private issuers

**Committees of the Board of Directors**

***Audit Committee***

Our Audit Committee is currently comprised of Liat Sidi, Tamir Fayerman and Ohad David, and is chaired by Tamir Fayerman. Our Board has determined that each of the members of the committee are financially literate and meets the independence requirements for directors, including the heightened independence standards for members of the Audit Committee under Rule 10A-3 under the Exchange Act and NI 52-110. Our Board has determined that Tamir Fayerman is "financially sophisticated" within the meaning of the Nasdaq Rules, "financially literate" within the meaning of NI 52-110, and a "financial expert" as defined by Rule 10A-3 under the Exchange Act. For a description of the education and experience of each member of the Audit Committee, see "Item 6.A. Directors, Senior Management and Employees."

We have adopted an Audit Committee Charter setting forth the purpose, composition, authority and responsibility of the Audit Committee.

The role of the Audit Committee is to provide oversight of the Company's financial management and of the design and implementation of an effective system of internal financial controls as well as to review and report to the Board on the integrity of the financial statements of the Company, its subsidiaries and associated companies. This includes helping directors meet their responsibilities, facilitating better communication between directors and the external auditor, enhancing the independence of the external auditor, increasing the credibility and objectivity of financial reports and strengthening the role of the directors by facilitating in-depth discussions among directors, management and the external auditor. Management is responsible for establishing and maintaining those controls, procedures and processes and the Committee is appointed by the Board to review and monitor them. The Company's external auditor is ultimately accountable to the Board and the Committee as representatives of the Company's shareholders.

The Committee's primary duties and responsibilities are to:

● conduct such reviews and discussions with management and the independent auditors relating to the audit and financial reporting as are deemed appropriate by the Committee;

● assess the integrity of internal controls and financial reporting procedures of the Company and ensure implementation of such controls and procedures;

● ensure that there is an appropriate standard of corporate conduct including, if necessary, adopting a corporate code of ethics for senior financial personnel;

● review the quarterly and annual financial statements and management's discussion and analysis of the Company's financial position and operating results and report thereon to the Board for approval of same;

● select and monitor the independence and performance of the Company's outside auditors (the "Independent Auditors"), including attending at private meetings with the Independent Auditors and reviewing and approving all renewals or dismissals of the Independent Auditors and their remuneration; and

● provide oversight to related party transactions entered into by the Company.

The Committee shall meet at least quarterly, at the discretion of the Chair or a majority of its members, as circumstances dictate or as may be required by applicable legal or listing requirements. A minimum of two of the members of the Committee present either in person or by telephone shall constitute a quorum.

To fulfill its responsibilities and duties, the Audit Committee shall:

● Review the annual audited financial statements to satisfy itself that they are presented in accordance with applicable Canadian accounting standards and report thereon to the Board and recommend to the Board whether or not same should be approved prior to their being filed with the appropriate regulatory authorities. The Committee shall also review and approve the interim financial statements. With respect to the annual and interim financial statements, the Committee shall discuss significant issues regarding accounting principles, practices, and judgments of management with management and the Independent Auditors as and when the Committee deems it appropriate to do so. The Committee shall satisfy itself that the information contained in the annual audited financial statements is not significantly erroneous, misleading or incomplete and that the audit function has been effectively carried out;

● Review management's internal control report and the evaluation of such report by the Independent Auditors, together with management's response;

● Review the financial statements, management's discussion and analysis relating to annual and interim financial statements, annual and interim earnings press releases and any other public disclosure documents that are required to be reviewed by the Committee under any applicable laws before the Company publicly discloses this information;

● Be satisfied that adequate procedures are in place for the review of the Company's public disclosure of financial information extracted or derived from the Company's financial statements, other than the public disclosure referred above, and periodically assess the adequacy of these procedures;

● Meet no less frequently than annually with the Independent Auditors and the Chief Financial Officer or, in the absence of a Chief Financial Officer, with the officer of the Company in charge of financial matters, to review accounting practices, internal controls and such other matters as the Committee, Chief Financial Officer or, in the absence of a Chief Financial Officer, with the officer of the Company in charge of financial matters, deems appropriate;

● inquire of management and the Independent Auditors about significant risks or exposures, both internal and external, to which the Company may be subject, and assess the steps management has taken to minimize such risks

● review the post-audit or management letter containing the recommendations of the Independent Auditors and management's response and subsequent follow-up to any identified weaknesses

● ensure that there is an appropriate standard of corporate conduct including, if necessary, adopting a corporate code of ethics for senior financial personnel

● establish procedures for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the receipt, retention and treatment of complaints received by the Company regarding accounting, internal accounting controls or auditing matters; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the confidential, anonymous submission by employees of the Company of concerns regarding questionable accounting or auditing matters

● Provide oversight to related party transactions entered into by the Company.

  **

***Compensation Committee***

 **

Compensation committees are not mandatory in Canada. However, NP 58-201 recommends that a Board appoint a Compensation Committee composed entirely of independent directors with responsibilities for oversight of the compensation payable to senior executives. The members of the Compensation Committee are not required to be independent or to have any particular expertise.

Upon the effectiveness of the listing of our common shares on Nasdaq, we plan to establish a Compensation Committee that will be comprised of Liat Sidi, Tamir Fayerman and Ohad David, and is chaired by Tamir Fayerman. The Compensation Committee will be appointed by the board to assist in promoting a culture of integrity throughout the Company and to:

● attract and retain skilled and experienced executives and senior managers;

● review and approve the structure and guidelines for various incentive compensation and benefit plans and recommend for the Board's approval of said plans;

● monitor and review the performance of the executive officers of the Company;

● motivate executives and senior managers to achieve corporate objectives and create shareholder value; and

● encourage executives and senior managers to link their personal financial interest to those of the shareholders.

The Board will rely on the knowledge and experience of the members of the Compensation Committee to set appropriate levels of compensation for senior officers. Neither the Company nor the members of Compensation Committee upon the effectiveness of the listing of our common shares on Nasdaq currently has any contractual arrangement with any executive compensation consultant who has a role in determining or recommending the amount or form of senior officer compensation.

When determining compensation payable, the Compensation Committee may consider both external and internal data. External data includes general markets conditions and well as information regarding compensation paid to directors, CEOs and CFOs of companies of similar size and at a similar stage of development in the industry. Internal data includes annual reviews of the performance of the directors, CEO and CFO in light of the Company's corporate objectives and considers other factors that may have impacted the Company's success in achieving its objectives.

 ****

***Nominating and Corporate Governance Committee***

Nominating and Corporate Governance Committees are not mandatory in Canada. However, NP 58-201 recommends that a board appoint a nominating committee composed entirely of independent directors with responsibility for overseeing the process for nominating directors for election by shareholders. The members of the corporate governance committee are not required to be independent or to have any particular expertise.

Upon the effectiveness of the listing of our common shares on Nasdaq, we plan to establish a Nominating and Corporate Governance Committee that will be appointed by the Board to assist in fulfilling its corporate governance responsibilities under applicable laws. The Nominating and Corporate Governance Committee will be responsible for, among other things, developing the Company's approach to governance issues and establishing sound corporate governance practices that are in the interests of shareholders and that contribute to effective and efficient decision-making, as well as identifying, reviewing and evaluating candidates to serve as directors of the Company.

Upon the effectiveness of the listing of our common shares on Nasdaq, our Nominating and Corporate Governance Committee will be currently comprised of Liat Sidi, Tamir Fayerman and Ohad David, and will be chaired by Tamir Fayerman.

**Exculpation, Insurance and Indemnification of Directors and Officers**

Under the BCBCA, a company may indemnify: (i) a current or former director or officer of that company; (ii) a current or former director or officer of another corporation if, at the time such individual held such office, the corporation was an affiliate of the company, or if such individual held such office at the company's request; or (iii) an individual who, at the request of the company, held, or holds, an equivalent position in a partnership, trust, joint venture or other unincorporated entity, or an indemnifiable person, against all eligible penalties, being a judgment, penalty or fine awarded or imposed in, or an amount paid in settlement of, an eligible proceeding, being a proceeding in which an eligible party or any of the heirs and personal or other legal representatives of the eligible party, by reason of the eligible party being or having been a director or officer of, or holding or having held a position equivalent to that of a director or officer of, the company or an associated corporation (a) is or may be joined as a party, or (b) is or may be liable for or in respect of a judgment, penalty or fine in, or expenses related to, the proceeding, to which the indemnifiable person is or may be liable. A company may further, after the final disposition of an eligible proceeding, pay the expenses, being costs, charges and expenses, including legal and other fees, but does not include judgments, penalties, fines or amounts paid in settlement of a proceeding, actually and reasonably incurred by an indemnified person in respect of that proceeding.

Such indemnification is prohibited if: (i) the individual did not act honestly and in good faith with a view to the best interests of such company or the other entity, as the case may be; or (ii) in the case of a proceeding other than a civil proceeding, the individual did not have reasonable grounds for believing that the individual's conduct was lawful. A company cannot indemnify an indemnifiable person if it is prohibited from doing so under its articles or by applicable law. A company may pay, as they are incurred in advance of the final disposition of an eligible proceeding, the expenses actually and reasonably incurred by an indemnifiable person in respect of that proceeding only if the indemnifiable person has provided an undertaking that, if it is ultimately determined that the payment of expenses was prohibited, the indemnifiable person will repay any amounts advanced. Subject to the aforementioned prohibitions on indemnification, a company must, after the final disposition of an eligible proceeding, pay the expenses actually and reasonably incurred by an indemnifiable person in respect of such eligible proceeding if such indemnifiable person has not been reimbursed for such expenses, and was wholly successful, on the merits or otherwise, in the outcome of such eligible proceeding or was substantially successful on the merits in the outcome of such eligible proceeding. On application from an indemnifiable person, a court may make any order the court considers appropriate in respect of an eligible proceeding, including the indemnification of penalties imposed or expenses incurred in any such proceedings and the enforcement of an indemnification agreement.

We maintain insurance policies relating to certain liabilities that our directors and officers may incur in such capacity.

The foregoing descriptions summarize the material aspects and practices of our board of directors. For additional details, we also refer you to the full text of the BCBCA, as well as of our articles, which is filed as an exhibit to this registration statement and is incorporated herein by reference.

As of the date of this registration statement, no claims for directors' and officers' liability insurance have been filed under this policy and we are not aware of any pending or threatened litigation or proceeding involving any of our office holders, including our directors, in which indemnification is sought.

**D.** **Employees** 

As of the date of this registration statement, we have two senior management positions, which includes our Chief Executive Officer, who is located in Canada, and Chief Financial Officer, who is located in Israel, each of whom are engaged on a part-time basis. As of March 2, 2026, we had five full-time employees, all of whom are located in the United Kingdom, and we engage with various consultants and service provides from time to time, including for packaging design and advertising services, bookkeeping services and strategic consulting services. None of our employees are members of a union or subject to the terms of a collective bargaining agreement.

**E.** **Share Ownership** 

See "Item 7.A. Major Shareholders" below.

***Equity Incentive Plan***

 ****

The Company has a new omnibus equity incentive plan (the "**Equity Incentive Plan**"), which was adopted by the Board of Directors on July 21, 2025, and approved by the Company's shareholders at the annual general meeting on August 21, 2025. The Equity Incentive Plan replaces and supersedes the Company's previous "rolling 10%" Option Plan that was originally adopted on June 25, 2021, and last approved by the shareholders of the Company on June 27, 2024. The Option Plan authorized the issuance of up to 10% of the Shares issued and outstanding from time to time for options.

The Equity Incentive Plan is a fixed plan whereby the aggregate number of common shares of the Company that may be issued upon the exercise or settlement of performance-based awards granted shall not exceed up to 20% of the Company's issued common shares as at the date of implementation, which maximum was fixed at 3,808,957 common shares by the Board on July 21, 2025 (representing 20% of the Company's issued and outstanding common shares as at the Record Date).

If the Equity Incentive Plan is not approved by the shareholders of the Company, the Equity Incentive Plan will terminate and the Company will revert to its previous "rolling 10%" Stock Option Plan.

The previous Stock Option Plan was adopted by our board of directors on June 25, 2021, and was most recently approved and confirmed by our shareholders at our annual general and special meeting of the shareholders held on June 27, 2024. The previous Stock Option Plan provides that, subject to the requirements of the TSXV, the aggregate number of common shares reserved for issuance pursuant to options granted under the Stock Option Plan will not exceed 10% of the number of common shares that are issued and outstanding from time to time.

The previous Stock Option Plan will be used to provide share purchase options to be granted in consideration of the level of responsibility of the executive as well as his or her impact or contribution to our longer-term operating performance. In determining the number of options to be granted to the executive officers, our board of directors will take into account the number of options, if any, previously granted to each executive officer, and the exercise price of any outstanding options to ensure that such grants were in accordance with the policies of the TSXV, and closely aligned the interests of the executive officers with the interests of shareholders. Our directors of Impact will also be eligible to receive stock option grants under the previous Stock Option Plan, and we will apply the same process for determining such awards to directors as our executive officers.

The following is a summary of previous Stock Option Plan, which is qualified in its entirety by the full text of the Option Plan, a copy of which is filed as an exhibit to this registration statement. In the case of conflict between this summary and the previous Stock Option Plan, the terms of the previous Stock Option Plan will govern. Capitalized terms used but not defined in the following section shall have the meaning ascribed to such term in the previous Stock Option Plan.

The policies of the TSXV provide that our board of directors may from time to time, in its discretion, and in accordance with the TSXV requirements, grant to our and our affiliates' directors, officers and employees and to consultants and management company employees, non-transferable options to purchase common shares for a period of up to ten years from the date of the grant, provided that the number of common shares reserved for issuance may not exceed 10% of the total issued and outstanding common shares at the date of the grant, and that the exercise period does not exceed 10 years from the date of grant.

The purpose of the previous Stock Option Plan, pursuant to which we may grant incentive stock options, is to our profitability and growth by facilitating our efforts to obtain and retain key individuals. The previous Stock Option Plan provides an incentive for and encourages ownership of our common shares by key individuals so that they may increase their stake in the Company and benefit from increases in the value of our common shares. Pursuant to the previous Stock Option Plan, the maximum number of common shares reserved for issuance in any 12 month period to any one optionee other than a consultant may not exceed 5% of our issued and outstanding common shares at the date of the grant. The maximum number of common shares reserved for issuance in any 12 month period to any consultant may not exceed 2% of our issued and outstanding common shares at the date of the grant and the maximum number of common shares reserved for issuance in any 12 month period to all persons engaged in investor relations activities may not exceed 2% of our issued and outstanding number of common shares at the date of the grant.

As of the date of this registration statement, there are 82,857 options to purchase our common shares issued and outstanding to our directors and officers under the Option Plan, each of which may be exercised to acquire one common share at a price of $0.70 CAD per share with an expiry date of July 7, 2026. Incentive stock options granted to member of Impact's board prior to the Acquisition may be exercised until the 12 months after the closing of the Acquisition.

**F.** **Disclosure of a Registrant's Action to Recover Erroneously Awarded Compensation** 

Not applicable.

**ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS**

**A.** **Major Shareholders** 

The following table sets forth information with respect to the beneficial ownership of our common shares as of the date of this registration statement by:

● each person, or group of affiliated persons, known to us to be the beneficial owner of more than 5% of our outstanding common shares;

● each of our directors and executive officers; and

● all of our directors and executive officers as a group.

Beneficial ownership is determined in accordance with the rules of the SEC and includes voting or investment power with respect to common shares. Common shares issuable pursuant to outstanding options or warrants to purchase common shares that are exercisable, or securities that are convertible into common shares, within 60 days after March 2, 2026, are deemed outstanding for the purpose of computing the percentage ownership of the person holding the options, warrants or convertible securities, but are not deemed outstanding for the purpose of computing the percentage ownership of any other person. Percentage of shares beneficially owned is based on 11,362,318 common shares outstanding on March 2, 2026 *plus* an additional (i) 1,571,429 common shares issuable upon the effectiveness of the listing of our common shares on Nasdaq representing contingent right shares pursuant to the Share Purchase Agreement in connection with the Acquisition, and (ii) 1,949,794 common shares and warrants to purchase 1,949,794 common shares upon the automatic conversion of August 2025 Convertible Debentures (as defined below) immediately following the effectiveness of the listing of our common shares on Nasdaq.

We are not controlled by another corporation, by any foreign government or by any natural or legal persons except as set forth herein, and there are no arrangements known to us which would result in a change in control of our company at a subsequent date. Except as indicated in footnotes to this table, we believe that the shareholders named in this table have sole voting and investment power with respect to all shares shown to be beneficially owned by them, based on information provided to us by such shareholders. Unless otherwise noted below, each beneficial owner's address is c/o Fort Technology Inc., 3292 Production Way, Suite 501 Burnaby, British Columbia V5A 4R4.

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| | | |
|:---|:---|:---|
|  | **No. of Common<br> Shares<br> Beneficially<br> Owned** | **Percentage<br> Owned** |
| **Holders of 5% or more of our voting securities:** | | |
| Jeffs' Brands Ltd. <sup>(1)</sup> | 11416863 | 72.53% |
| **Directors and executive officers who are not 5% holders:** |  |  |
| Gabriel Kabazo <sup>(2)</sup> | 22572 | \*% |
| Ronen Zalayet <sup>(3)</sup> |  |  |
| Oz Adler <sup>(4)</sup> |  |  |
| Liat Sidi <sup>(5)</sup> |  |  |
| Tamir Fayerman <sup>(6)</sup> |  |  |
| Ohad David <sup>(7)</sup> |  |  |
| Asaf Itzhaik <sup>(8)</sup> | 101436 | \*% |
| **All directors and executive officers as a group (7 persons)** | 124008 | \*% |

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\* Indicates less than 1%.

(1) The address of Jeffs' Brands Ltd. is 7 Mezada Street, Bnei Brak, Israel 5126112. Jeffs' Brands Ltd. is a publicly traded company. To the best of our knowledge, Jeffs' Brands Ltd. does not have any controlling shareholders. The chief financial officer of Jeffs' Brands Ltd. is Ronen Zalayet, our chief financial officer. Consists of (i) 8,129,379 common shares, (ii) 1,571,429 common shares issuable upon the effectiveness of the listing of our common shares on Nasdaq representing contingent right shares pursuant to the Share Purchase Agreement in connection with the Acquisition, (iii) 858,031 common shares issuable upon the conversion of August 2025 Convertible Debentures and (iv) 858,031 common shares issuable upon the exercise of August 2025 Warrants. Does not include up to an additional 3,142,858 contingent right shares, each entitling the holding thereof to acquire one common shares of Fort Technology Inc. for no additional consideration upon the achievement of certain pre-determined milestones following the Acquisition as set forth in the Share Purchase Agreement. In connection with the Company's acquisition of Fort Products Limited in July 2025, which was a qualifying transaction under the policies of the TSX Venture Exchange, at the request of the TSX Venture Exchange, Jeffs' Brands undertook not to acquire, exercise or convert securities currently held to the extent (but only to the extent) that, after giving effect to such acquisition, exercise or conversion (as applicable), Jeffs' Brands would, directly or indirectly, own in excess of 80% of our outstanding common shares.

(2) Consists of 14,286 common shares and 8,286 stock options. Does not include 85,714 RSUs that vest in more than 60 days from the date of this registration statement.

(3) Does not include 42,857 RSUs that vest in more than 60 days from the date of this registration statement.

(4) Does not include 10,714 RSUs that vest in more than 60 days from the date of this registration statement.

(5) Does not include 10,714 RSUs that vest in more than 60 days from the date of this registration statement.

(6) Does not include 10,714 RSUs that vest in more than 60 days from the date of this registration statement.

(7) Does not include 10,714 RSUs that vest in more than 60 days from the date of this registration statement.

(8) Consists of (i) 50,718 common shares issuable upon the conversion of August 2025 Convertible Debentures and (ii) 50,718 common shares issuable upon the exercise of August 2025 Warrants. Does not include 10,714 RSUs that vest in more than 60 days from the date of this registration statement.

***Significant Changes in Percentage Ownership by Major Shareholders***

To our knowledge, other than as disclosed in this registration statement, there has been no significant change in the percentage ownership held by any major shareholder since January 1, 2022. The major shareholders listed above do not have voting rights with respect to their common shares that are different from the voting rights of other holders of our common shares.

**B.** **Related Party Transactions** 

The following is a description of related-party transactions we have entered into since January 1, 2022, with any of the members of the board of directors, executive officers or holders of more than 5% of any class of our voting securities at the time of such transaction.

 ****

**Agreements and Arrangements With, and Compensation of, Directors and Executive Officers**

We have entered into written employment agreements or service agreements with each of our executive officers. All of these agreements contain customary provisions regarding noncompetition, confidentiality of information and assignment of inventions. See "Item 6.B — Compensation — Agreements with Executive Officers."

***Indemnification Agreements***

Our articles provide that we may indemnify any of our directors, former directors, officers or former officers, any other person and his or her heirs and legal personal representatives against all eligible penalties to which such person is or may be liable, and we may, after the final disposition of an eligible proceeding, pay the expenses actually and reasonably incurred by such person in respect of that proceeding. Each of our directors and officers is deemed to have contracted with us on terms of the indemnity contained in our articles. In addition, we may indemnify any other person in accordance with the BCBCA.

Upon the effectiveness of the listing of our common shares on Nasdaq, we intend to enter into separate indemnification agreements with our directors and executive officers, in addition to indemnification provided for in our articles. These agreements, among other things, provide for indemnification of our directors and executive officers for expenses, judgments, fines and settlement amounts incurred by such persons in any action or proceeding arising out of this person's services as a director or executive officer or at our request. We believe that these provisions in our articles and indemnification agreements are necessary to attract and retain qualified persons as directors and executive officers.

***RSUs***

 

We have granted RSUs to certain of our directors and executive officers. Such award agreements may contain acceleration provisions upon certain merger, acquisition, or change of control transactions. See also "Item 6. Directors, Senior Management and Employees—E. Share Ownership." We describe our Equity Incentive Plan under "Item 6. Directors, Senior Management and Employees—E. Share Ownership—Equity Incentive Plan." If the relationship between us and a director or executive officer is terminated, RSUs that are vested shall be settled in accordance with the settlement schedule set forth in the applicable award agreement.

**Fort Technology Inc. Share Purchase Agreement**

 ****

On February 6, 2025, Fort Technology Inc. (then known as Impact Acquisitions Corp) entered into the Share Purchase Agreement with Jeffs' Brands Ltd. for the Acquisition. The Acquisition closed on July 7, 2025. Upon the closing of the Acquisition, Fort issued 357,413 common shares to certain finders as compensation for providing advisory services in connection with the transaction. One of the finders, who received 119,048 common shares, is a company owned by a family member of one of our former directors and the former Chief Executive Officer and director of Jeffs' Brands. In addition, Mr. Ronen Zalayet, our Chief Financial Officer, also serves as the Chief Financial Officer of Jeffs' Brands. See "Item 4B. Business Overview – Recent Developments – Impact Share Purchase Agreement" above for further information.

**Jeffs' Brands Debt Settlement Agreement**

On December 24, 2025, we entered into a debt settlement agreement with Jeffs' Brands pursuant to which we issued to Jeffs' Brands 1,700,801 common shares, at a price per share equal to CAD $1.98 (approximately US $1.44, in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of CAD$3,367,587 (approximately US $2,462,767). The debt was originally incurred by Fort UK and Fort Products LLC, our wholly-owned U.S. subsidiary, as part of the 2023 Service Agreement (as defined below) and was previously assigned to us. The common shares issued to Jeffs' Brands pursuant to the debt settlement agreement will be subject to a four months and a day hold period pursuant to applicable Canadian securities laws.

**Jeffs' Brands Services Agreement with Fort Technology**

On July 7, 2025, we entered into a service agreement with Jeffs' Brands, or the 2025 Service Agreement, pursuant to which Jeffs' Brands will provide different services to us. The 2025 Service Agreement is for a period of 12 months starting July 2025 and renewed for additional successive 12 months period. The 2025 Service Agreement can be terminated by either party with 60 days advance notice. Fees are determined by a transfer pricing study compliant with applicable laws. We currently accrue service fees of approximately $5,000 per month to Jeffs' Brands under the 2025 Service Agreement, which is expected to increase after we complete the listing of our common shares on the Nasdaq. Pursuant to the 2025 Service Agreement, the services that Jeffs' Brands provides to us include corporate management services relating to business strategy and execution, corporate support and administrative services, including services relating to finance, bookkeeping and operation, and such other services as may be agreed from time to time.

**Jeffs' Brands Services Agreement with Fort UK**

On March 30, 2023, Fort UK entered into a service agreement with Jeffs' Brands, or the 2023 Service Agreement, pursuant to which Jeffs' Brands will provide different services to Fort UK. The 2023 Service Agreement is for a period of 12 months starting March 2023 and renewed for additional successive 12 months period. The 2023 Service Agreement can be terminated by either party with 60 days advance notice. Fees are determined by a transfer pricing study compliant with applicable laws. On June 10, 2025, the 2023 Service Agreement was amended pursuant to which the term of the 2023 Service Agreement was extended to March 9, 2026, and will automatically renew for additional successive 12-month periods unless terminated by mutual agreement or 60 days notice. Fort UK currently accrues services fees of approximately $30,000 per month to Jeffs' Brands under the 2023 Service Agreement, which is expected to remain the same in 2026. Amounts owed by Fort UK as of September 30, 2025 under the 2023 Service Agreement were converted into our common shares on December 24, 2025 pursuant to the a debt settlement agreement with Jeffs' Brands. For additional information, see "Item 7B. Related Party Transactions—Jeffs' Brands Debt Settlement Agreement" above.

**August 2025 Private Placement**

 

On August 21, 2025, the Company closed the August 2025 Private Placement of 5,000 convertible debentures units, with a Principal Amount of CAD$1,000, at a price of approximately $1,452 per August 2025 Convertible Debenture for gross proceeds of $3,630,513. On December 31, 2025, we received irrevocable conversion notices from the holders of our August 2025 Convertible Debentures pursuant to which, immediately following the effectiveness of the listing of our common shares on Nasdaq, an aggregate principal amount of US $3,630,513 of the August 2025 Convertible Debentures then outstanding will be automatically converted into 1,949,794 August 2025 Units at the August 2025 Conversion Price.

 

The Company engaged two Finders in connection with the August 2025 Private Placement. In consideration for the services provided by the Finders, the Company paid to the Finders an aggregate of $155,074 and issued to the Finders 128,861 common share at a price of $1.862 per common share. Jeffs' Brands acquired an aggregate of 2,200 August 2025 Convertible Debentures for gross proceeds of $1,597,653, representing approximately 858,031 common shares on conversion of the August 2025 Convertible Debentures. Mr. Asaf Itzhaik, a director of the Company, acquired an aggregate of 65 Convertible Debentures for gross proceeds of $94,437, representing approximately 50,718 common shares on conversion of the August 2025 Convertible Debentures. See "Item 5 — Operating and Financial Review and Prospects – Recent Transactions – August 2025 Private Placement" above for further information.

 

**Miga Consulting Agreement**

 

On July 7, 2025, the Company entered into a consulting agreement with Miga Consulting Ltd. ("Miga"), pursuant to which Miga will provide the Company with Chief Executive Officer services for a term of 24 months. Gabriel Kabazo, the current Chief Executive Officer of the Company, is the sole shareholder of Miga. The Company has agreed to pay Miga a monthly consulting fee of US $4,750, payable upon the commencement of services.

 

**D.S. Blue White Assets Consulting Agreement**

 

On July 7, 2025, the Company entered into a consulting agreement with D.S. Blue White Assets (2006) Ltd. ("D.S."), pursuant to which D.S. will provide the Company with Chief Financial Officer services for a term of 24 months. Ronen Zalayet the current Chief Financial Officer of the Company, is the sole shareholder of D.S. The Company has agreed to pay D.S. a monthly consulting fee of US $5,500, payable upon the commencement of services.

 

**Hike Capital Consulting Agreement**

 

On November 8, 2025, the Company entered into a consulting agreement with Hike Capital Inc. ("Hike") pursuant to which Hike will provide the Company with financial advisory and consulting services for a term of 24 months. The Company has agreed to pay Hike a monthly fee of CAD 5,000 (approximately $3,550) payable upon the effectiveness of the listing of our common shares on Nasdaq. In addition, the Company granted Hike Capital an aggregate of 42,857 RSUs with 21,429 RSUs vesting 12 months following the grant date and the remaining RSUs vesting in equal portion of 5,357 RSUs each three months thereafter. The chief executive officer of Hike is the brother of Ohad David, a member of the Company's board of directors.

 

**C.** **Interests of Experts and Counsel** 

 

Not applicable.

 

**ITEM 8. FINANCIAL INFORMATION.**

 

**A.** **Consolidated Statements and Other Financial Information** 

 

See "Item 18. Financial Statements."

 

**Legal Proceedings**

 

We are not currently subject to any material legal proceedings.

 

**Dividends**

 

We have never declared or paid any cash dividends to our shareholders of our common shares, and we do not anticipate or intend to pay cash dividends in the foreseeable future. Payment of cash dividends, if any, in the future will be at the discretion of our board of directors, in compliance with applicable legal requirements and will depend on a number of factors, including future earnings, our financial condition, operating results, contractual restrictions, capital requirements, business prospects, our strategic goals and plans to expand our business, applicable law and other factors that our board of directors may deem relevant.

 

The BCBCA imposes further restrictions on our ability to declare and pay dividends.

 

Payment of dividends may be subject to Canadian withholding taxes. See "Item 10.E. Taxation—Material Canadian Federal Income Tax Considerations" for additional information.

 

**B.** **Significant Changes** 

 

No significant change, other than as otherwise described in this registration statement, has occurred in our operations since the date of our consolidated financial statements included in this registration statement.

**ITEM 9. THE OFFER AND LISTING.**

**A.** **Offer and Listing Details** 

Our common shares are listed on the TSXV under the symbol "FORT.V" and commenced trading after our qualifying transaction with Fort Products Limited on July 10, 2025.

**B.** **Plan of Distribution** 

Not applicable.

**C.** **Markets** 

Our common shares are listed on the TSXV under the symbol "FORT.V" and commenced trading after our qualifying transaction with Fort Products Limited on July 10, 2025. We are filing this registration statement in anticipation of the listing of our common shares on the Nasdaq Capital Market.

**D.** **Selling Shareholders** 

Not applicable.

**E.** **Dilution** 

Not applicable.

**F.** **Expenses of the Issue** 

Not applicable.

**ITEM 10. ADDITIONAL INFORMATION**

**A.** **Share Capital** 

The following descriptions of share capital are summaries and are qualified by reference to our articles, a copy of which is filed with the SEC as an exhibit to this registration statement.

As of March 2, 2026, we had 11,362,318 common shares issued and outstanding and our authorized share capital consists of an unlimited number of common shares, no par value. In addition, (i) upon the effectiveness of the listing of our common shares on Nasdaq, 1,571,429 common shares, representing contingent right shares pursuant to the Share Purchase Agreement will be issued to Jeffs' Brands as the achievement of one of the milestones and (ii) 1,949,794 common shares and warrants to purchase 1,949,794 common shares will be issued upon the automatic conversion of August 2025 Convertible Debentures (as defined below) immediately following the effectiveness of the listing of our common shares on Nasdaq. All of our outstanding common shares have been validly issued, fully paid and non-assessable. Our common shares are not redeemable and are not subject to any preemptive right.

Upon the effectiveness of this registration statement, our common shares are anticipated to be listed for trading on the Nasdaq and will continue to trade on the TSX Venture Exchange.

Since January 1, 2022, our share capital has changed as follows:

● On August 21, 2025, we closed the August 2025 Private Placement" of convertible debentures at a price of $1,452 per August 2025 Convertible Debenture for gross proceeds of $3,630,513. The August 2025 Convertible Debentures will mature on August 21, 2027, and bear interest at 10% per annum, payable quarterly with the first payment being for the period from August 21, 2025 to September 30, 2025. At the option of the holder, the principal amount of the August 2025 Convertible Debentures is convertible into August 2025 Units, at any time from August 21, 2025 until August 21, 2027 at a price equal to $1.862 per August 2025 Unit. Each August 2025 Unit is comprised of one common share and one August 2025 Warrant. Each August 2025 Warrant will entitle the holder thereof to acquire one additional common share at an exercise price of $1.862 per common share until August 21, 2030. The August 2025 Convertible Debentures, and the securities issuable upon conversion of the August 2025 Convertible Debentures, are subject to a holding period until December 22, 2025, in compliance with applicable Canadian securities laws and the rules of the TSXV. The net proceeds from the August 2025 Private Placement were used for general working capital requirements and a loan investment. We engaged two Finders in connection with the August 2025 Private Placement. In consideration for the services provided by the Finders, we paid to the Finders an aggregate of $155,074 and issued to the Finders 128,861 common share at a price of $1.862 per common share. Jeffs' Brands acquired an aggregate of 1,100 August 2025 Convertible Debentures for gross proceeds of $1,597,653, representing approximately 1858,031 common shares on conversion of the August 2025 Convertible Debentures. Mr. Asaf Itzhaik, a member of our board of directors, acquired an aggregate of 65 Convertible Debentures for gross proceeds of $94,437, representing approximately 50,718 common shares on conversion of the August 2025 Convertible Debentures. See "Item 5 — Operating and Financial Review and Prospects – Recent Transactions – August 2025 Private Placement" above for further information.

● On February 6, 2025, we, being Fort Technology Inc. (then known as Impact Acquisitions Corp, a capital pool company listed on the TSX Venture Exchange), entered into the Share Purchase Agreement with Jeffs' Brands Ltd., a company incorporated under the laws of the State of Israel, pursuant to which, on the terms and subject to the conditions of the Share Purchase Agreement, Fort Products Limited, a wholly-owned U.K.-based subsidiary of Jeffs' Brands sold all of the issued and outstanding shares of Fort Products Limited to us, with us continuing as the surviving corporation. The Acquisition closed on July 7, 2025. In connection with the consummation of Acquisition, we changed our name from "Impact Acquisitions Corp" to "Fort Technology Inc.". Pursuant to the Share Purchase Agreement, among other things, Jeffs' Brands sold to us, all of the issued and outstanding common shares of Fort UK, in consideration for 7,142,857 of our common shares and an additional 4,714,287 contingent right shares, each entitling the holding thereof to acquire one of our common shares for no additional consideration upon the achievement of certain pre-determined milestones, representing a post-closing equity interest us of 75.02%. See "Item 4B. Business Overview – Recent Developments – Impact Share Purchase Agreement" above for further information.

● On March 9, 2022, we announced the completion of our initial public offering in Canada of 214,285 common shares at the price of $1.40 per common share for gross proceeds of $300,000 on the TSX Venture Exchange. Our common shares initially commenced trading on the TSX Venture Exchange on March 11, 2022. Our common shares are currently listed on the TSXV under the symbol "FORT.V" and commenced trading after our qualifying transaction with Fort Products Limited on July 10, 2025. PI Financial Corp. was retained to act as exclusive agent with respect to our initial public offering in Canada. The Agent received commissions of $30,000 as well as non-transferrable share purchase warrants to acquire 21,428 common shares at an exercise price of $1.40 per common share. The warrants expire on March 11, 2027.

● On March 9, 2022, we also granted incentive stock options to acquire 41,428 common shares at an exercise price of $1.40 per option to the directors and officers of the company. The options expire on March 9, 2027.

● On November 29, 2024, we completed a private placement of 1,428,571 common shares at the price of $0.70 per common share for gross proceeds of $1,000,000.

● A cash commission of $82,500 were paid to eligible finders and 17,857 common shares were issued to these finders. These costs were classified as share issuance costs. We recorded $213,800 share issuance costs.

Our board of directors may determine the issue prices and terms for such shares or other securities, and may further determine any other provision relating to such issue of shares or securities. We may also issue and redeem redeemable securities on such terms and in such manner as our board of directors shall determine.

As of March 2, 2026, we had 217 holders of record of our common shares.

For further information on our shares, see "—Item 10.B. Memorandum and Articles of Association."

**B.** **Articles** 

The following is a summary of the material terms of our share capital, as set forth in our articles and certain related sections of the BCBCA. The following summary is subject to, and is qualified in its entirety by reference to, the provisions of our articles and the applicable provisions of the BCBCA.

***Common Shares***

All of our common shares are one and the same class, identical in all respects and have equal rights, powers and privileges.

 

*Voting.* Except as otherwise provided for by resolution of our Board, the holders of outstanding common shares have the exclusive right to vote on all matters requiring shareholder action. On each matter on which holders of common shares are entitled to vote, each outstanding share of Common Share is entitled to one vote.

 

*Dividends.* Holders of our common shares have equal rights of participation in the dividends and other distributions of our cash, stock or property when, as and if declared thereon by our Board from time to time out of our assets or funds legally available therefor and shall have equal rights to receive our assets and funds available for distribution to shareholders in the event of any liquidation, dissolution or winding up of our affairs, whether voluntary or involuntary.

 

*Liquidation.* Holders of our common shares have equal rights to receive our assets and funds available for distribution to shareholders in the event of any liquidation, dissolution or winding up of our affairs, whether voluntary or involuntary.

*Rights and Preferences.* Holders of our common shares will have no preemptive, conversion or subscription rights, and there will be no redemption or sinking funds provisions applicable to our common shares. The rights, preferences and privileges of the holders of our common shares will be subject to, and may be adversely affected by, the rights of the holders of share of any series of our preferred shares that we may designate and issue in the future.

 

*Fully Paid and Nonassessable.* All of our outstanding common shares are fully paid and nonassessable.

***Anti-Takeover Provisions***

Some provisions of the BCBCA and other British Columbia laws could make the following transactions more difficult: an acquisition of us by means of a tender offer; an acquisition of us by means of a proxy contest or otherwise; or the removal of our incumbent officers and directors. It is possible that these provisions could make it more difficult to accomplish or could deter transactions that shareholders may otherwise consider to be in their best interests or in our best interests, including transactions that provide for payment of a premium over the market price for our common shares.

*Undesignated Share Classes and Series.* The ability of our Board, without action by our shareholders, to create and issue undesignated shares in such classes and in such series as determined by our Board, with voting or other rights or preferences as designated by our Board, could impede the success of any attempt to effect a change in control of our company. These and other provisions may have the effect of deferring hostile takeovers or delaying changes in control or management of our company.

***Limitations on Liability and Indemnification Matters***

Our articles provide that we may indemnify any of our directors, former directors, officers or former officers, any other person and his or her heirs and legal personal representatives against all eligible penalties to which such person is or may be liable, and we may, after the final disposition of an eligible proceeding, pay the expenses actually and reasonably incurred by such person in respect of that proceeding. Each of our directors and officers is deemed to have contracted with us on terms of the indemnity contained in our articles. In addition, we may indemnify any other person in accordance with the BCBCA.

We also have entered and intend to enter into separate indemnification agreements with our directors and executive officers, in addition to indemnification provided for in our articles. These agreements, among other things, provide for indemnification of our directors and executive officers for expenses, judgments, fines and settlement amounts incurred by such persons in any action or proceeding arising out of this person's services as a director or executive officer or at our request. We believe that these provisions in our articles and indemnification agreements are necessary to attract and retain qualified persons as directors and executive officers.

The above description of the limitation of liability and indemnification provisions of our articles of incorporation, and our indemnification agreements is not complete and is qualified in its entirety by reference to these documents, each of which will be filed as an exhibit to this registration statement to which this prospectus forms a part.

The limitation of liability and indemnification provisions in our articles may discourage shareholders from bringing a lawsuit against our directors for breach of their fiduciary duties. They may also reduce the likelihood of derivative litigation against directors and officers, even though an action, if successful, might benefit us and our shareholders. A shareholder's investment may be harmed to the extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification provisions.

Insofar as indemnification for liabilities under the Securities Act may be permitted to directors, officers or persons controlling us pursuant to the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable. There is no pending litigation or proceeding naming any of our directors or officers as to which indemnification is being sought, nor are we aware of any pending or threatened litigation that may result in claims for indemnification by any director or officer.

**Transfer Agent and Registrar**

The transfer agent and registrar for our common shares is Endeavor Trust Corporation, with a mailing address of 702 - 777 Hornby Street, Vancouver, BC V6Z 1S4 Canada, and a phone number of (604) 559-8880.

**Comparison of Shareholder Rights**

We are a corporation governed by the BCBCA. The following discussion summarizes material differences between the rights of holders of common shares and the holders of the common stock of a typical corporation incorporated under the laws of the state of Delaware, which result from differences in governing documents and the laws of British Columbia and Delaware. This summary is qualified in its entirety by reference to the Delaware General Corporation Law, or the DGCL, the BCBCA, and our articles.

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|  | **Delaware** | **British Columbia** |
| **Stockholder/Shareholder Approval of Business Combinations; Fundamental Changes** | Under the DGCL, certain fundamental changes such as amendments to the certificate of incorporation, a merger, consolidation, sale, lease, exchange or other disposition of all or substantially all of the property of a corporation not in the usual and regular course of the corporation's business, or a dissolution of the corporation, are generally required to be approved by the holders of a majority of the outstanding stock entitled to vote on the matter, unless the certificate of incorporation requires a higher percentage.<br>However, under the DGCL, mergers in which less than 20% of a corporation's stock outstanding immediately prior to the effective date of the merger is issued generally do not require stockholder approval. In certain situations, the approval of a business combination may require approval by a certain number of the holders of a class or series of shares. In addition, Section 251(h) of the DGCL provides that stockholders of a constituent corporation need not vote to approve a merger if: (i) the merger agreement permits or requires the merger to be effected under Section 251(h) and provides that the merger shall be effected as soon as practicable following the tender offer or exchange offer, (ii) a corporation consummates a tender or exchange offer for any and all of the outstanding stock of such constituent corporation that would otherwise be entitled to vote to approve the merger, (iii) following the consummation of the offer, the stock accepted for purchase or exchanges plus the stock owned by the consummating corporation equals at least the percentage of stock that would be required to adopt the agreement of merger under the DGCL, (iv) the corporation consummating the offer merges with or into such constituent corporation and (v) each outstanding share of each class or series of stock of the constituent corporation that was the subject of and not irrevocably accepted for purchase or exchange in the offer is to be converted in the merger into, or the right to receive, the same consideration to be paid for the shares of such class or series of stock of the constituent corporation irrevocably purchased or exchanged in such offer.<br>The DGCL does not contain a procedure comparable to a plan of arrangement under BCBCA. | Under the BCBCA and our articles, certain extraordinary company alterations, such as changes to authorized share structure, continuances, into or out of province, certain amalgamations, sales, leases or other dispositions of all or substantially all of the undertaking of a company (other than in the ordinary course of business) liquidations, dissolutions, and certain arrangements are required to be approved by ordinary or special resolution as applicable.<br>An ordinary resolution is a resolution (i) passed at a shareholders' meeting by a simple majority, or (ii) passed, after being submitted to all of the shareholders, by being consented to in writing by shareholders who, in the aggregate, hold shares carrying at least two-thirds of the votes entitled to be cast on the resolution.<br>A special resolution is a resolution (i) passed by not less than two-thirds of the votes cast by the shareholders who voted in respect of the resolution at a meeting duly called and held for that purpose or (ii) passed by being consented to in writing by all shareholders entitled to vote on the resolution.<br>Under the BCBCA, an action that prejudices or interferes with a right or special right attached to issued shares of a class or series of shares must be approved by a special separate resolution of the holders of the class or series of shares being affected.<br>Under the BCBCA, arrangements are permitted and a company may make any proposal it considers appropriate "despite any other provision" of the BCBCA. In general, a plan of arrangement is approved by a company's board of directors and then is submitted to a court for approval. It is customary for a company in such circumstances to apply to a court initially for an interim order governing various procedural matters prior to calling any security holder meeting to consider the proposed arrangement. Plans of arrangement involving shareholders must be approved by a special resolution of shareholders, including holders of shares not normally entitled to vote. The court may, in respect of an arrangement proposed with persons other than shareholders and creditors, require that those persons approve the arrangement in the manner and to the extent required by the court. The court determines, among other things, to whom notice shall be given and whether, and in what manner, approval of any person is to be obtained and also determines whether any shareholders may dissent from the proposed arrangement and receive payment of the fair value of their shares. Following compliance with the procedural steps contemplated in any such interim order (including as to obtaining security holder approval), the court would conduct a final hearing, which would, among other things, assess the fairness of the arrangement and approve or reject the proposed arrangement. |

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|  |  | The BCBCA does not contain a provision comparable to Section 251(h) of the DGCL. |
| **Special Vote Required for Combinations with Interested Stockholders/ Shareholders** | Section 203 of the DGCL provides (in general) that a corporation may not engage in a business combination with an interested stockholder for a period of three years after the time of the transaction in which the person became an interested stockholder. The prohibition on business combinations with interested stockholders does not apply in some cases, including if: (i) the board of directors of the corporation, prior to the time of the transaction in which the person became an interested stockholder, approves (a) the business combination or (b) the transaction in which the stockholder becomes an interested stockholder; (ii) upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced; or (iii) the board of directors and the holders of at least two-thirds of the outstanding voting stock not owned by the interested stockholder approve the business combination on or after the time of the transaction in which the person became an interested stockholder.<br>For the purpose of Section 203, the DGCL, subject to specified exceptions, generally defines an interested stockholder to include any person who, together with that person's affiliates or associates, (i) owns 15% or more of the outstanding voting stock of the corporation (including any rights to acquire stock pursuant to an option, warrant, agreement, arrangement or understanding, or upon the exercise of conversion or exchange rights, and stock with respect to which the person has voting rights only), or (ii) is an affiliate or associate of the corporation and owned 15% or more of the outstanding voting stock of the corporation at any time within the previous three years. | The BCBCA does not contain a provision comparable to Section 203 of the DGCL with respect to business combinations. |

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| **Appraisal Rights; Rights to Dissent** | Under the DGCL, a stockholder of a corporation participating in some types of major corporate transactions may, under varying circumstances, be entitled to appraisal rights pursuant to which the stockholder may receive cash in the amount of the fair market value of his or her shares in lieu of the consideration he or she would otherwise receive in the transaction. For example, a stockholder is entitled to appraisal rights in the case of a merger or consolidation if the shareholder is required to accept in exchange for the shares anything other than: (i) shares of stock of the corporation surviving or resulting from the merger or consolidation, or depository receipts in respect thereof; (ii) shares of any other corporation, or depository receipts in respect thereof, that on the effective date of the merger or consolidation will be either listed on a national securities exchange or held of record by more than 2,000 shareholders; (iii) cash instead of fractional shares of the corporation or fractional depository receipts of the corporation; or (iv) any combination of the shares of stock, depository receipts and cash instead of the fractional shares or fractional depository receipts. | The BCBCA provides that shareholders of a company are entitled to exercise dissent rights in respect of certain matters and to be paid the fair value of their shares in connection therewith. The dissent right is applicable where a company resolves to (i) alter its articles to alter the restrictions on the powers of the company or on the business it is permitted to carry on; (ii) approve certain amalgamations; (iii) approve an arrangement, where the terms of the arrangement or court orders relating thereto permit dissent; (iv) sell, lease or otherwise dispose of all or substantially all of its undertaking; or (v) continue the company into another jurisdiction. Dissent may also be permitted if authorized by resolution. A court may also make an order permitting a shareholder to dissent in certain circumstances. |

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| **Compulsory Acquisition** | Under the DGCL, mergers in which one corporation owns 90% or more of each class of stock of a second corporation may be completed without the vote of the second corporation's board of directors or shareholders. | The BCBCA provides that if, within 4 months after the making of an offer to acquire shares, or any class of shares, of a company, the offer is accepted by the holders of not less than 90% of the shares (other than the shares held by the offeror or an affiliate of the offeror) of any class of shares to which the offer relates, the offeror is entitled, upon giving proper notice within 5 months after the date of the offer, to acquire (for the same price and on the same terms on which the offeror acquired shares from those holders of shares who accepted the offer) the shares held by those holders of shares of that class who did not accept the offer. Offerees may apply to the court, within 2 months of receiving notice, and the court may set a different price or terms of payment and may make any consequential orders or directions as it considers appropriate. |
| **Stockholder/ Shareholder Consent to Action Without Meeting** | Under the DGCL, unless otherwise provided in the certificate of incorporation, any action that can be taken at a meeting of the stockholders may be taken without a meeting if written consent to the action is signed by the holders of outstanding stock having not less than the minimum number of votes necessary to authorize or take the action at a meeting of the stockholders. | Although it is not customary for public companies to do so, under the BCBCA, shareholder action without a meeting may be taken by a consent resolution of shareholders provided that it satisfies the thresholds for approval in a company's articles, the BCBCA and the regulations thereunder. A consent resolution is as valid and effective as if it was a resolution passed at a meeting of shareholders. |

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| **Special Meetings of Stockholders/ Shareholders** | Under the DGCL, a special meeting of shareholders may be called by the board of directors or by such persons authorized in the certificate of incorporation or the bylaws. | Under the BCBCA, the holders of not less than 5% of the issued shares of a company that carry the right to vote at a general meeting may requisition that the directors call a meeting of shareholders for the purpose of transacting any business that may be transacted at a general meeting. Upon receiving a requisition that complies with the technical requirements set out in the BCBCA, the directors must, subject to certain limited exceptions, call a meeting of shareholders to be held not more than 4 months after receiving the requisition. If the directors do not call such a meeting within 21 days after receiving the requisition, the requisitioning shareholders or any of them holding in aggregate not less than 2.5% of our issued shares that carry the right to vote at general meetings may call the meeting. |

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| **Distributions and Dividends; Repurchases and Redemptions** | Under the DGCL, subject to any restrictions contained in the certificate of incorporation, a corporation may pay dividends out of capital surplus or, if there is no surplus, out of net profits for the current and/or the preceding fiscal year in which the dividend is declared, as long as the amount of capital of the corporation following the declaration and payment of the dividend is not less than the aggregate amount of the capital represented by issued and outstanding shares having a preference upon the distribution of assets. Surplus is defined in the DGCL as the excess of the net assets over capital, as such capital may be adjusted by the board. A Delaware corporation may purchase or redeem shares of any class except when its capital is impaired or would be impaired by the purchase or redemption. A corporation may, however, purchase or redeem out of capital shares that are entitled upon any distribution of its assets to a preference over another class or series of its shares if the shares are to be retired and the capital reduced. | Under the BCBCA, a company may pay a dividend in money or other property unless there are reasonable grounds for believing that the company is insolvent, or the payment of the dividend would render the company insolvent. The BCBCA provides that no special rights or restrictions attached to a series of any class of shares confer on the series a priority in respect of dividends or return of capital over any other series of shares of the same class. Under the BCBCA, the purchase or other acquisition by a company of its shares is generally subject to solvency tests similar to those applicable to the payment of dividends (as set out above). Our company is permitted, under its articles, to acquire any of its common shares, and the approval of its board of directors. Under the BCBCA, subject to solvency tests similar to those applicable to the payment of dividends (as set out above), a company may redeem, on the terms and in the manner provided in its articles, any of its shares that has a right of redemption attached to it. |

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| **Constitution and Residency Of Directors** | The DGCL does not have residency requirements, but a corporation may prescribe qualifications for directors under its certificate of incorporation or bylaws. | The BCBCA does not place any residency restrictions on the boards of directors. |
| **Removal of Directors; Terms of Directors** | Under the DGCL, except in the case of a corporation with a classified board or with cumulative voting, any director or the entire board may be removed, with or without cause, by the holders of a majority of the shares entitled to vote at an election of directors. | Our articles allow for the removal of a director by special resolution of the shareholders. According to our articles, all directors cease to hold office immediately before the election or appointment of directors at every annual general meeting, but are eligible for re-election or re-appointment. |
| **Inspection of Books and Records** | Under the DGCL, any holder of record of stock or a person who is the beneficial owner of shares of such stock held either in a voting trust or by a nominee on behalf of such person may inspect the corporation's books and records for a proper purpose. | Under the BCBCA, directors and shareholders may, without charge, inspect certain of the records of a company. Former shareholders and directors may also inspect certain of the records, free of charge, but only those records pertaining to the times that they were shareholders or directors. Public companies must allow all persons to inspect certain records of the company free of charge. |
| **Amendment of Governing Documents** | Under the DGCL, a certificate of incorporation may be amended if: (i) the board of directors adopts a resolution setting forth the proposed amendment, declares the advisability of the amendment and directs that it be submitted to a vote at a meeting of shareholders; provided that unless required by the certificate of incorporation, no meeting or vote is required to adopt an amendment for certain specified changes; and (ii) the holders of a majority of shares of stock entitled to vote on the matter approve the amendment, unless the certificate of incorporation requires the vote of a greater number of shares.<br>If a class vote on the amendment is required by the DGCL, a majority of the outstanding stock of the class is required, unless a greater proportion is specified in the certificate of incorporation or by other provisions of the DGCL.<br>Under the DGCL, the board of directors may amend a corporation's bylaws if so authorized in the certificate of incorporation. The shareholders of a Delaware corporation also have the power to amend bylaws. | Under the BCBCA, a company may amend its articles or notice of articles by (i) the type of resolution specified in the BCBCA, (ii) if the BCBCA does not specify a type of resolution, then by the type specified in the company's articles, or (iii) if the company's articles do not specify a type of resolution, then by special resolution. The BCBCA permits many substantive changes to a company's articles (such as a change in authorized share structure or a change in the special rights or restrictions that may be attached to a certain class or series of shares) to be changed by the resolution specified in that company's articles.<br>Our articles provide that certain changes to our share structure and any creation or alteration of special rights and restrictions attached to a series or class of shares be done by way of ordinary resolution. However, if a right or special right attached to a class or series of shares would be prejudiced or interfered with by such an alteration, the BCBCA requires that holders of such class or series of shares must approve the alteration by a special separate resolution of those shareholders.<br>Our articles also provide that the shareholders may from time to time, by ordinary resolution, make any alteration to our notice of articles and articles as permitted by the BCBCA.  |

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| **Indemnification of Directors and Officers** | Under the DGCL, subject to specified limitations in the case of derivative suits brought by a corporation's stockholders in its name, a corporation may indemnify any person who is made a party to any action, suit or proceeding on account of being a director, officer, employee or agent of the corporation (or was serving at the request of the corporation in such capacity for another corporation, partnership, joint venture, trust or other enterprise) against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him or her in connection with the action, suit or proceeding, provided that there is a determination that: (i) the individual acted in good faith and in a manner reasonably believed to be in or not opposed to the best interests of the corporation; and (ii) in a criminal action or proceeding, the individual had no reasonable cause to believe his or her conduct was unlawful.<br>Without court approval, however, no indemnification may be made in respect of any derivative action in which an individual is adjudged liable to the corporation, except to the extent the Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity.<br>The DGCL requires indemnification of directors and officers for expenses (including attorneys' fees) actually and reasonably relating to a successful defense on the merits or otherwise of a derivative or third-party action.<br>Under the DGCL, a corporation may advance expenses relating to the defense of any proceeding to directors and officers upon the receipt of an undertaking by or on behalf of the individual to repay such amount if it shall ultimately be determined that such person is not entitled to be indemnified.  | Under the BCBCA, a company may indemnify: (i) a current or former director or officer of that company; (ii) a current or former director or officer of another corporation if, at the time such individual held such office, the corporation was an affiliate of the company, or if such individual held such office at that company's request; or (iii) an indemnifiable person (as defined in the "Description of Share Capital" section above) against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by him or her in respect of any civil, criminal, administrative or other legal proceeding or investigative action (whether current, threatened, pending or completed) in which he or she is involved because of that person's position as an indemnifiable person, unless: (i) the individual did not act honestly and in good faith with a view to the best interests of such company or the other entity, as the case may be; or (ii) in the case of a proceeding other than a civil proceeding, the individual did not have reasonable grounds for believing that the individual's conduct in respect of which the proceeding was brought was lawful. A company cannot indemnify an indemnifiable person if it is prohibited from doing so under its articles. In addition, a company must not indemnify an indemnifiable person in proceedings brought against the indemnifiable person by or on behalf of the company or an associated corporation. A company may pay, as they are incurred in advance of the final disposition of an eligible proceeding, the expenses actually and reasonably incurred by an indemnifiable person in respect of that proceeding only if the indemnifiable person has provided a written undertaking that, if it is ultimately determined that the payment of expenses was prohibited, the indemnifiable person will repay any amounts advanced. Subject to the aforementioned prohibitions on indemnification, a company must, after the final disposition of an eligible proceeding, pay the expenses actually and reasonably incurred by an indemnifiable person in respect of such eligible proceeding if such indemnifiable person has not been reimbursed for such expenses, and was wholly successful, on the merits or otherwise, in the outcome of such eligible proceeding or was substantially successful on the merits in the outcome of such eligible proceeding. On application from an indemnifiable person, a court may make any order it considers appropriate in respect of an eligible proceeding, including the indemnification of penalties imposed or expenses incurred in any such proceedings and the enforcement of an indemnification agreement. As permitted by the BCBCA, our articles require us to indemnify our directors, officers, former directors or officers (and such individual's respective heirs and legal representatives) and permit us to indemnify any person to the extent permitted by the BCBCA. |

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| **Limited Liability of Directors** | The DGCL permits the adoption of a provision in a corporation's certificate of incorporation limiting or eliminating the monetary liability of a director to a corporation or its shareholders by reason of a director's breach of the fiduciary duty of care. The DGCL does not permit any limitation of the liability of a director for: (i) breaching the duty of loyalty to the corporation or its shareholders; (ii) acts or omissions not in good faith; (iii) engaging in intentional misconduct or a known violation of law; (iv) obtaining an improper personal benefit from the corporation; or (v) paying a dividend or approving a stock repurchase that was illegal under applicable law. | Under the BCBCA, a director or officer of a company must (i) act honestly and in good faith with a view to the best interests of the company; (ii) exercise the care, diligence and skill that a reasonably prudent individual would exercise in comparable circumstances; (iii) act in accordance with the BCBCA and the regulations thereunder; and (iv) subject to (i) to (iii), act in accordance with the articles of the company. These statutory duties are in addition to duties under common law and equity. No provision in a contract or the articles of a company may relieve a director or officer of a company from the above duties. Under the BCBCA, a director is not liable for certain acts if the director has otherwise complied with his or her duties and relied, in good faith, on (i) financial statements of the company represented to the director by an officer of the company or in a written report of the auditor of the company to fairly reflect the financial position of the company, (ii) a written report of a lawyer, accountant, engineer, appraiser or other person whose profession lends credibility to a statement made by that person, (iii) a statement of fact represented to the director by an officer of the company to be correct, or (iv) any record, information or representation that the court considers provides reasonable grounds for the actions of the director, whether or not that record was forged, fraudulently made or inaccurate or that information or representation was fraudulently made or inaccurate. Further, a director is not liable if the director did not know and could not reasonably have known that the act done by the director or authorized by the resolution voted for or consented to by the director was contrary to the BCBCA. |

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| **Stockholder/ Shareholder Lawsuits** | Under the DGCL, a stockholder may bring a derivative action on behalf of the corporation to enforce the rights of the corporation; provided, however, that under Delaware case law, the plaintiff generally must be a stockholder not only at the time of the transaction which the subject of the suit, but through the duration of the derivative suit. Delaware law also requires that the derivative plaintiff make a demand on the directors of the corporation to assert the corporate claim before the suit may be prosecuted by the derivative plaintiff, unless such demand would be futile. An individual also may commence a class action suit on behalf of himself or herself and other similarly situated stockholders where the requirements for maintaining a class action have been met. | Under the BCBCA, a shareholder (including a beneficial shareholder) or director of a company and any person who, in the discretion of the court, is an appropriate person to make an application to court to prosecute or defend an action on behalf of a company (a derivative action) may, with judicial leave: (i) bring an action in the name and on behalf of the company to enforce a right, duty or obligation owed to the company that could be enforced by the company itself or to obtain damages for any breach of such right, duty or obligation or (ii) defend, in the name and on behalf of the company, a legal proceeding brought against the company with leave of the court<br>Under the BCBCA, the court may grant leave if: (i) the complainant has made reasonable efforts to cause the directors of the company to prosecute or defend the action; (ii) notice of the application for leave has been given to the company and any other person that the court may order; (iii) the complainant is acting in good faith; and (iv) it appears to the court to be in the interests of the company for the action to be prosecuted or defended.<br>Under the BCBCA, upon the final disposition of a derivative action, the court may make any order it determines to be appropriate. In addition, under the BCBCA, a court may order a company to pay the complainant's interim costs, including legal fees and disbursements. However, the complainant may be held accountable for the costs on final disposition of the action. |

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| **Oppression Remedy** | Although the DGCL imposes upon directors and officers fiduciary duties of loyalty (i.e., a duty to act in a manner believed to be in the best interest of the corporation and its stockholders) and care, there is no remedy under the DGCL that is comparable to the BCBCA's oppression remedy. | The BCBCA's oppression remedy enables a court to make an order (interim or final) to rectify the matters complained of if the court is satisfied upon application by a shareholder (as defined below) that the affairs of the company are being or have been conducted or that the powers of the directors are being or have been exercised in a manner that is oppressive, or that some action of the company or shareholders has been or is threatened to be taken which is unfairly prejudicial, in each case to one or more shareholders. The applicant must be one of the persons being oppressed or prejudiced and the application must be brought in a timely manner. A "shareholder" for the purposes of the oppression remedy includes legal and beneficial owners of shares as well as any other person whom the court considers appropriate. The oppression remedy provides the court with extremely broad and flexible jurisdiction to intervene in corporate affairs to protect shareholders. |

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| **Blank Check Preferred Stock/Shares** | Under the DGCL, the certificate of incorporation of a corporation may give the board the right to issue new classes of preferred shares with voting, conversion, dividend distribution, and other rights to be determined by the board at the time of issuance, which could prevent a takeover attempt and thereby preclude shareholders from realizing a potential premium over the market value of their shares. In addition, the DGCL does not prohibit a corporation from adopting a shareholder rights plan, or "poison pill," which could prevent a takeover attempt and also preclude shareholders from realizing a potential premium over the market value of their shares. |

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| &nbsp;&nbsp;&nbsp; **Advance Notification Requirements for Proposals of Stockholders/**<br> **Shareholders** | Delaware corporations typically have provisions in their bylaws that require a stockholder proposing a nominee for election to the board of directors or other proposals at an annual or special meeting of the stockholders to provide notice of any such proposals to the secretary of the corporation in advance of the meeting for any such proposal to be brought before the meeting of the stockholders. In addition, advance notice bylaws frequently require the stockholder nominating a person for election to the board of directors to provide information about the nominee, such as his or her age, address, employment and beneficial ownership of shares of the corporation's capital stock. The stockholder may also be required to disclose, among other things, his or her name, share ownership and agreement, arrangement or understanding with respect to such nomination. For other proposals, the proposing stockholder is often required by the bylaws to provide a description of the proposal and any other information relating to such stockholder or beneficial owner, if any, on whose behalf that proposal is being made, required to be disclosed in a proxy statement or other filings required to be made in connection with solicitation of proxies for the proposal and pursuant to and in accordance with the Exchange Act and the rules and regulations promulgated thereunder. | Under the BCBCA, qualified shareholders holding at least one percent (1%) of our issued voting shares or whose shares have a fair market value in excess of $2,000 in the aggregate may make proposals for matters to be considered at the annual general meeting of shareholders. Such proposals must be sent to the company in accordance with the requirements of the BCBCA. The proposal must include, among other things, information on the business the shareholder intends to bring before the meeting and must be accompanied by a declaration from the submitter that provides (i) the name and mailing address of the submitter and (ii) the number and class or series of shares carrying the right to vote that are owned by the submitter. The proposal may also be accompanied by a written statement in support of the proposal, and the proposal (or the proposal and statement together, as the case may be) must not exceed 1,000 words in length. To be a qualified shareholder, a shareholder must currently be and have been a registered or beneficial owner of at least one share of the company for at least two years before the date of signing the proposal. If the proposal and a written statement in support of the proposal (if any) are submitted at least three months before the anniversary date of the previous annual meeting and the proposal and written statement (if any) meet other specified requirements, then the company must either set out the proposal, including the names and mailing addresses of the submitting person and supporters and the written statement (if any), in the proxy circular of the company or attach the proposal and written statement thereto. In certain circumstances, the company may refuse to process a proposal. |

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**C.** **Material Contracts** 

We have not entered into any material contracts other than in the ordinary course of business and other than those described in Item 4. "Information on Our Company," Item 7B "Major Shareholders and Related Party Transactions - Related Party Transactions" or elsewhere in this registration statement.

**D.** **Exchange Controls** 

We are not aware of any governmental laws, decrees, regulations or other legislation in Canada that restrict the export or import of capital, including the availability of cash and cash equivalents for use by our affiliated companies, or that affect the remittance of dividends, interest or other payments to non-resident holders of our securities. Any remittances of dividends to residents of the United States and to other non-resident holders are, however, subject to withholding tax.

**E.** **Taxation** 

 

*The following description is not intended to constitute a complete analysis of all tax consequences relating to the acquisition, ownership and disposition of our common shares. You should consult your own tax advisor concerning the tax consequences of your particular situation, as well as any tax consequences that may arise under the laws of any state, local, foreign, or other taxing jurisdiction.* 

**MATERIAL CANADIAN FEDERAL INCOME TAX CONSIDERATIONS**

The following summary describes, as of the date hereof, the principal Canadian federal income tax considerations under the *Income Tax Act* (Canada) (the "Tax Act") generally applicable to a holder who acquires, as beneficial owner, common shares, who has not elected to report its Canadian tax results in a currency other than the Canadian currency, and who deals at arm's length with us and the underwriters for purposes of the Tax Act (a "Holder").

This summary is based on the provisions of the Tax Act and the regulations thereunder (the "Regulations") in force as of the date hereof, all specific proposals to amend the Tax Act and the Regulations that have been publicly announced prior to the date hereof (the "Proposed Amendments"), and our understanding of the current published administrative policies and practices of the Canada Revenue Agency. This summary assumes that the Proposed Amendments will be enacted in the form proposed; however, no assurance can be given that the Proposed Amendments will be enacted in the form proposed, if at all. This summary is not exhaustive of all possible Canadian federal income tax considerations and, except for the Proposed Amendments, does not take into account any changes in law, whether by legislative, governmental or judicial action, nor does it take into account provincial, territorial or foreign tax considerations, which may differ from those discussed herein.

This summary is of a general nature only and is not intended to be, nor should it be construed to be, legal or tax advice to any particular Holder, and no representations with respect to the income tax consequences to any Holder are made. Consequently, Holders and prospective holders of common shares should consult their own tax advisors for advice with respect to the tax consequences to them of acquiring such shares, having regard to their particular circumstances. This summary does not address any tax considerations applicable to persons other than Holders and such persons should consult their own tax advisors regarding the consequences of acquiring, holding and disposing of common shares under the Tax Act and any jurisdiction in which they may be subject to tax.

**Foreign Exchange**

For purposes of the Tax Act, all amounts expressed in a currency other than Canadian dollars relating to the acquisition, holding or disposition of common shares, including dividends, adjusted cost base and proceeds of disposition, must be determined in Canadian dollars using the relevant rate of exchange required under the Tax Act.

**Residents of Canada**

The following portion of this summary is generally applicable to a Holder who, at all relevant times for purposes of the Tax Act (a) is, or is deemed to be, resident in Canada, (b) holds common shares as "capital property", and (c) is not affiliated with us or the underwriters (a "Resident Holder"). Generally, common shares will be considered to be capital property to a Resident Holder unless they are held in the course of carrying on a business or as part of an adventure or concern in the nature of trade. Certain Resident Holders whose common shares do not otherwise qualify as capital property may, in certain circumstances, make an irrevocable election in accordance with subsection 39(4) of the Tax Act to have their common shares and every other "Canadian security" (as defined in the Tax Act) owned by such holder in the taxation year of the election and in all subsequent taxation years deemed to be capital property. Resident Holders are advised to consult their own tax advisors to determine whether such an election is available and desirable in their particular circumstances.

This summary is not applicable to a Resident Holder: (i) that is a "financial institution" for the purposes of the "mark-to-market" rules contained in the Tax Act; (ii) that is a "specified financial institution"; (iii) an interest in which would be a "tax shelter investment"; or (iv) that enters into a "derivative forward agreement" in respect of common shares, as each of those terms is defined in the Tax Act. This summary does not address the possible application of the "foreign affiliate dumping" rules that may be applicable to a Resident Holder that is a corporation resident in Canada (for the purposes of the Tax Act) and is, or becomes, or does not deal at arm's length with a corporation resident in Canada that is, or that becomes, as part of a transaction or event or series of transactions or events that includes the acquisition of the common shares, controlled by a non-resident corporation, individual, trust or a group of any combination of non-resident individuals, trusts, and/or corporations who do not deal with each other at arm's length for purposes of the rules in section 212.3 of the Tax Act. Any such Resident Holder should consult its own tax advisor with respect to an investment in common shares.

***Dividends***

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In the case of a Resident Holder who is an individual (other than certain trusts), dividends received or deemed to be received on the common shares will be included in computing the Resident Holder's income and will be subject to the gross-up and dividend tax credit rules that apply to taxable dividends received from taxable Canadian corporations. Provided that we make the appropriate designations, such dividend will be treated as an "eligible dividend" for the purposes of the Tax Act and a Resident Holder who is an individual will be entitled to an enhanced dividend tax credit in respect of such dividend. There may be limitations on our ability to designate dividends and deemed dividends as eligible dividends.

Dividends received or deemed to be received on the common shares by a Resident Holder that is a corporation will be required to be included in computing the corporation's income for the taxation year in which such dividends are received, but such dividends will generally be deductible in computing the corporation's taxable income. In certain circumstances, subsection 55(2) of the Tax Act will treat a taxable dividend received by a Resident Holder that is a corporation as proceeds of disposition or a capital gain. Resident Holders that are corporations should consult their own tax advisors having regard to their own circumstances.

A Resident Holder that is a "private corporation" or a "subject corporation" (each as defined in the Tax Act) may be liable under Part IV of the Tax Act to pay a refundable tax on dividends received or deemed to be received on the common shares to the extent that such dividends are deductible in computing the Resident Holder's taxable income for the taxation year. A Resident Holder that is a "private corporation" or a "subject corporation" should consult their own tax advisors having regard to their own circumstances.

Dividends received by a Resident Holder who is an individual (including certain trusts) may result in such Resident Holder being liable for alternative minimum tax under the Tax Act. Resident Holders who are individuals or trusts should consult their own tax advisors in this regard.

***Dispositions of Common Shares***

A disposition or deemed disposition of a Common Share by a Resident Holder will generally result in the Resident Holder realizing a capital gain (or capital loss) equal to the amount by which the proceeds of disposition of the Common Share, net of any reasonable costs of disposition, are greater (or less) than the Resident Holder's adjusted cost base of the common shares. Such capital gain (or capital loss) will be subject to the tax treatment described below under "—Taxation of Capital Gains and Capital Losses."

The adjusted cost base to the Resident Holder of a voting share acquired will, at any particular time, be determined in accordance with certain rules in the Tax Act by averaging the cost of such share with the adjusted cost base of all common shares owned by the Resident Holder as capital property at that time, if any.

***Taxation of Capital Gains and Capital Losses***

Generally, one-half of any capital gain (a "taxable capital gain") realized by a Resident Holder in a taxation year must be included in computing the Resident Holder's income for the year, and one-half of any capital loss (an "allowable capital loss") realized by a Resident Holder in a taxation year must be deducted from taxable capital gains realized by the Resident Holder in that year. Allowable capital losses for a taxation year in excess of taxable capital gains for that year generally may be carried back and deducted in any of the three preceding taxation years or carried forward and deducted in any subsequent taxation year against net taxable capital gains realized in such years, to the extent and under the circumstances described in the Tax Act.

The amount of any capital loss realized by a Resident Holder that is a corporation on the disposition of a Common Share may be reduced by the amount of any dividends received or deemed to have been received on such Common Share (or on a share for which such Common Share has been substituted) to the extent and under the circumstances described in the Tax Act. Analogous rules apply to a partnership or trust of which a corporation, trust or partnership is a member or beneficiary. Resident Holders should consult their own tax advisors in this regard.

Taxable capital gains realized by a Resident Holder who is an individual (including certain trusts) may give rise to liability for alternative minimum tax as calculated under the detailed rules set out in the Tax Act. A Resident Holder that is a "Canadian-controlled private corporation" (as defined in the Tax Act) may be liable to pay an additional refundable tax on certain investment income, including taxable capital gains. Resident Holders should consult their own tax advisors in this regard.

**Eligibility for Investment**

Following the closing of the offering, the common shares become qualified investments under the Tax Act and the Regulations for trusts governed by registered retirement savings plans, registered retirement income funds, registered education savings plans, registered disability savings plans, tax-free savings accounts (collectively "Registered Plans") and deferred profit sharing plans, or DPSPs, all as defined in the Tax Act.

Notwithstanding the foregoing, the holder of, subscriber or annuitant under, a Registered Plan (the "Controlling Individual") will be subject to a penalty tax in respect of common shares acquired by the Registered Plan if such shares are a prohibited investment for the particular Registered Plan. A Common Share generally will not be a "prohibited investment" for a Registered Plan provided the Controlling Individual deals at arm's length with the Company for the purposes of the Tax Act and the Controlling Individual does not have a "significant interest" (as defined in subsection 207.01(4) the Tax Act) in the Company.

Prospective investors who intend to hold common shares in a Registered Plan or DPSP are advised to consult their personal tax advisors.

**Non-Residents of Canada**

The following portion of this summary is generally applicable to a Holder who, at all relevant times for purposes of the Tax Act and any applicable tax treaty or convention (a) is not, and is not deemed to be, resident in Canada, and (b) does not use or hold, and is not deemed to use or hold, common shares in the course of carrying on a business in Canada (a "Non-Resident Holder"). Special rules which are not discussed in this summary may apply to a Non-Resident Holder that is an insurer which carries on an insurance business in Canada and elsewhere.

***Dividends***

Dividends paid or credited or deemed to be paid or credited to a Non-Resident Holder by us on common shares are subject to Canadian withholding tax at the rate of 25% on the gross amount of the dividend unless such rate is reduced by the terms of an applicable tax treaty. For example, under the Canada – United States Tax Convention (1980), as amended (the "Treaty"), the rate of withholding tax on dividends paid or credited to a Non-Resident Holder who is a resident of the United States for purposes of the Treaty and who is fully entitled to the benefits of the Treaty (a "U.S. Holder") is generally limited to 15% of the gross amount of the dividend (or 5% in the case of a U.S. Holder that is a company that beneficially owns at least 10% of our common shares). Non-Resident Holders should consult their own tax advisors to determine their entitlement to relief under any applicable income tax treaty.

***Dispositions of Common Shares***

A Non-Resident Holder will not be subject to tax under the Tax Act in respect of a capital gain realized on the disposition or deemed disposition of a voting share unless the voting share constitutes "taxable Canadian property" to the Non-Resident Holder for purposes of the Tax Act and the Non-Resident Holder is not entitled to relief under the terms of an applicable tax treaty between Canada and the Non-Resident Holder's jurisdiction of residence.

Provided the common shares are listed on a "designated stock exchange", as defined in the Tax Act (which currently includes the TSXV) at the time of disposition, the common shares will generally not constitute taxable Canadian property of a Non-Resident Holder at that time unless, at any time during the 60-month period immediately preceding the disposition, the following two conditions are satisfied: (i) (a) the Non-Resident Holder, (b) persons with whom the Non-Resident Holder did not deal at arm's length for purposes of the Tax Act, (c) partnerships in which the Non-Resident Holder or a person described in (b) holds a membership interest directly or indirectly through one or more partnerships, or (d) any combination of the persons and partnerships described in (a) through (c), owned 25% or more of the issued shares of any class or series of our shares, and (ii) more than 50% of the fair market value of the common shares was derived directly or indirectly from one or any combination of: real or immovable property situated in Canada, "Canadian resource properties", "timber resource properties" (each as defined in the Tax Act), and options in respect of, or interests in or for civil law rights in, such properties, whether or not the property exits. Notwithstanding the foregoing, the shares may also be deemed to be taxable Canadian property to a Non-Resident Holder under other provisions of the Tax Act.

Non-Resident Holders who may hold common shares as taxable Canadian property should consult their own tax advisors.

**CERTAIN MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS**

THE FOLLOWING SUMMARY IS NOT INTENDED TO BE, AND SHOULD NOT BE CONSIDERED TO BE, LEGAL OR TAX ADVICE. EACH U.S. HOLDER SHOULD CONSULT WITH HIS OR HER OWN TAX ADVISOR AS TO THE U.S. FEDERAL INCOME TAX CONSEQUENCES OF THE PURCHASE, OWNERSHIP AND SALE OF COMMON SHARES, INCLUDING THE EFFECTS OF APPLICABLE STATE, LOCAL, FOREIGN OR OTHER TAX LAWS AND POSSIBLE CHANGES IN THE TAX LAWS.

The following discussion summarizes certain material U.S. federal income tax consequences to a "U.S. Holder" arising from the purchase, ownership and sale of the common shares. For this purpose, a "U.S. Holder" is a holder of common shares s that is, for U.S. federal income tax purposes: (1) an individual citizen or resident of the United States; (2) a corporation (or entity treated as a corporation for U.S. federal income tax purposes) created or organized under the laws of the United States or the District of Columbia or any political subdivision thereof; (3) an estate, the income of which is includable in gross income for U.S. federal income tax purposes regardless of its source; or (4) a trust if (A) a court within the United States is able to exercise primary supervision over the administration of the trust and one or more U.S. persons have authority to control all substantial decisions of the trust, or (B) the trust has a valid election in effect to be treated as a U.S. person to the extent provided in U.S. Treasury regulations.

This discussion does not purport to be a comprehensive description of all of the U.S. federal income tax considerations that may be relevant to a decision to purchase our common shares. This summary generally considers only U.S. Holders that will own our common shares as capital assets and does not consider the U.S. federal income tax consequences to a person that is not a U.S. Holder, nor does it describe the rules applicable to determine a taxpayer's status as a U.S. Holder. This summary is based on the provisions of the Internal Revenue Code of 1986, as amended, or the Code, final, temporary and proposed U.S. Treasury regulations promulgated thereunder, administrative and judicial interpretations thereof, and the income tax treaty currently in force between the United States and Canada, or the Treaty, all as in effect as of the date hereof and all of which are subject to change, possibly on a retroactive basis, and all of which are open to differing interpretations. We will not seek a ruling from the Internal Revenue Service, or the IRS, with regard to the U.S. federal income tax treatment of an investment in our common shares by U.S. Holders and, therefore, can provide no assurances that the IRS will agree with the conclusions set forth below.

This discussion does not address all aspects of U.S. federal income taxation that may be relevant to a particular U.S. Holder based on such U.S. Holder's particular circumstances, such as the alternative minimum tax and the net investment income tax, and does not discuss any estate, gift, generation-skipping transfer, state, local, excise or non-U.S. tax considerations. In addition, this discussion does not address the U.S. federal income tax treatment of a U.S. Holder who is subject to special rules under the Code, including: (1) a bank, insurance company, regulated investment company, or other financial institution; (2) a broker or dealer in securities or foreign currency; (3) a person who acquired our common shares in connection with employment or other performance of services; (4) a U.S. Holder that holds our common shares as a hedge or as part of a hedging, straddle, conversion or constructive sale transaction or other risk-reduction transaction for U.S. federal income tax purposes; (5) a tax-exempt organization, qualified retirement plan, individual retirement account or other tax-deferred account; (6) real estate investment trusts or grantor trusts; (7) a U.S. expatriate or a former long-term resident of the United States; or (8) a person having a functional currency other than the U.S. dollar. This discussion does not address the U.S. federal income tax treatment of a U.S. Holder that owns, directly, indirectly or constructively, at any time, common shares representing 10% or more of the stock of our Company. Additionally, the U.S. federal income tax treatment of partnerships (or other pass-through entities) or persons who hold common shares through a partnership or other pass-through entity are not addressed.

**Each prospective investor is advised to consult his or her own tax adviser for the specific tax consequences to that investor of purchasing, holding or disposing of our Common Shares, including the effects of applicable state, local, foreign or other tax laws and possible changes in the tax laws.**

***Taxation of Dividends Paid on Common Shares***

We do not intend to pay dividends in the foreseeable future. In the event that we do pay dividends, and subject to the discussion under the heading "Passive Foreign Investment Company Rules" below and the discussion of "qualified dividend income" below, a U.S. Holder will be required to include in gross income as ordinary income the amount of any distribution paid on the common shares (including the amount of any Canadian tax withheld on the date of the distribution), to the extent that such distribution does not exceed our current and accumulated earnings and profits, as determined for U.S. federal income tax purposes. The amount of a distribution that exceeds our earnings and profits will be treated first as a non-taxable return of capital, reducing the U.S. Holder's tax basis for the common shares to the extent thereof, and then as capital gain. We do not expect to maintain calculations of our earnings and profits under U.S. federal income tax principles and, therefore, U.S. Holders should expect that the entire amount of any distribution generally will be reported as dividend income.

In general, preferential tax rates for "qualified dividend income" and long-term capital gains are applicable for U.S. Holders that are individuals, estates or trusts. For this purpose, "qualified dividend income" means, inter alia, dividends received from a "qualified foreign corporation," provided that certain holding-period requirements and other conditions are satisfied. A "qualified foreign corporation" is a corporation that is entitled to the benefits of a comprehensive tax treaty with the United that the Secretary of Treasury of the United States determines is satisfactory for purposes of this provision and which includes an exchange of information program. The IRS has stated that the Treaty satisfies this requirement and we believe we are eligible for the benefits of the Treaty. In addition, our dividends will be qualified dividend income if our common shares are readily tradable on Nasdaq or another established securities market in the United States. However, we will not be a qualified foreign corporation if we are a passive foreign investment company, or PFIC, as described below under "Passive Foreign Investment Company Rules," for the taxable year in which we pay a dividend or for the preceding taxable year.

Cash distributions paid by us in Canadian dollars will be included in the income of U.S. Holders at a U.S. dollar amount based upon the spot rate of exchange in effect on the date the dividend is includible in the income of the U.S. Holder, and U.S. Holders will have a tax basis in such Canadian dollars for U.S. federal income tax purposes equal to such U.S. dollar value. If the U.S. Holder subsequently converts the Canadian dollars into U.S. dollars or otherwise disposes of them, any subsequent gain or loss in respect of such Canadian dollars arising from exchange rate fluctuations will be U.S. source ordinary exchange gain or loss.

Subject to certain conditions and limitations, non-refundable withholding taxes (at a rate not in excess of any applicable tax treaty rate), if any, on dividends paid by us may be treated as foreign taxes eligible for credit against a U.S. Holder's U.S. federal income tax liability under the U.S. foreign tax credit rules. However, as a result of recent changes to the U.S. foreign tax credit rules, a withholding tax generally will need to satisfy certain additional requirements in order to be considered a creditable tax for a U.S. Holder. We have not determined whether these requirements have been met and, accordingly, no assurance can be given that any withholding tax on dividends paid by us will be creditable. For purposes of calculating the U.S. foreign tax credit, dividends paid with respect to our common shares generally will be treated as foreign source income and as passive category income. In lieu of claiming a foreign tax credit, a U.S. Holder may deduct foreign taxes, including any foreign income tax imposed with respect to their common shares, in computing their taxable income, subject to generally applicable limitations under U.S. federal income tax law.

The rules relating to the determination of the foreign tax credit are complex, and each U.S. Holder should consult its tax advisors to determine whether and to what extent such U.S. Holder will be entitled to this credit.

***Taxation of the Sale, Exchange or other Disposition of Common Shares***

Except as provided under the PFIC rules described below under "Passive Foreign Investment Company Rules," upon the sale, exchange or other disposition of our common shares, a U.S. Holder will recognize capital gain or loss in an amount equal to the difference between such U.S. Holder's tax basis for the common shares, determined in U.S. dollars, and the U.S. dollar value of the amount realized on the disposition (or its U.S. dollar equivalent determined by reference to the spot rate of exchange on the date of disposition, if the amount realized is denominated in a foreign currency). The gain or loss realized on the sale, exchange or other disposition of common shares will be long-term capital gain or loss if the U.S. Holder has a holding period of more than one year at the time of the disposition. Individuals who recognize long-term capital gains may be taxed on such gains at reduced rates of tax. The deduction of capital losses is subject to various limitations.

***Passive Foreign Investment Company Rules***

The treatment of U.S. Holders of common shares could be materially different from that described above if we are treated as a PFIC for U.S. federal income tax purposes. We will be treated as a PFIC for U.S. federal income tax purposes for any taxable year with respect to which either:

● 75% or more of our gross income constitutes passive income for purposes of the PFIC rules; or

● 50% or more of our assets (generally determined on the basis of a quarterly average value) are held for the production of, or produce, passive income.

For this purpose, passive income generally consists of rents, dividends, interest, royalties, gains from the disposition of passive assets and gains from certain commodities and securities transactions. Cash generally is treated as generating passive income. The value of goodwill is an active asset to the extent attributable to activities that produce active income. The determination of whether a foreign corporation is a PFIC is based upon the composition of such foreign corporation's income and assets (including, among others, its proportionate share of the income and assets of any other corporation in which it owns, directly or indirectly, 25% (by value) of the stock), and the nature of such foreign corporation's activities. A separate determination must be made after the close of each taxable year as to whether a foreign corporation was a PFIC for that year.

As of the date hereof, we have not made a determination as to our PFIC status for our current taxable year or any other taxable year. The tests for determining PFIC status are applied annually after the close of the taxable year, and therefore our possible status as a PFIC may be subject to change. Further, because the value of our goodwill may be determined based on the market value of the common shares, a decrease in the market value of the common shares and/or an increase in cash or other passive assets would increase the relative percentage of our passive assets. The application of the PFIC rules is subject to uncertainty in several respects and, therefore, no assurances can be provided that we will not be a PFIC for any taxable year. If we are treated as a PFIC during a U.S. Holder's holding period for common shares, we will, with respect to such U.S. Holder, continue to be treated as a PFIC, regardless of whether we satisfied either of the qualification tests in subsequent years, subject to certain exceptions.

If we currently are or become a PFIC, each U.S. Holder who has not elected to mark the shares to market (as discussed below), would, upon receipt of certain "excess distributions" by us and upon disposition of our common shares at a gain: (1) have such excess distribution or gain allocated ratably over the U.S. Holder's holding period for the common shares, as the case may be; (2) the amount allocated to the current taxable year and any period prior to the first day of the first taxable year in which we were a PFIC would be taxed as ordinary income; and (3) the amount allocated to each of the other taxable years would be subject to tax at the highest rate of tax in effect for the applicable class of taxpayer for that year, and an interest charge for the deemed deferral benefit would be imposed with respect to the resulting tax attributable to each such other taxable year. Distributions received by a U.S. Holder in a taxable year that are greater than 125% of the average annual distributions received during the shorter of the three preceding taxable years or the U.S. Holder's holding period for the common shares will be treated as excess distributions. Indirect investments in a PFIC may also be subject to these special U.S. federal income tax rules.

As an alternative to the foregoing rules, a U.S. Holder may make a mark-to-market election with respect to the common shares, provided such common shares are treated as "marketable stock." The common shares generally will be treated as marketable stock if they are regularly traded on a "qualified exchange or other market," as defined in applicable U.S. Treasury regulations. The common shares will be marketable stock as long as they remain listed on Nasdaq, which is a qualified exchange for this purpose, and are regularly traded.

If a U.S. Holder makes a valid mark-to-market election with respect to the common shares, the holder generally will (i) include as ordinary income for each taxable year that we are a PFIC the excess, if any, of the fair market value of common shares held at the end of the taxable year over the adjusted tax basis of such common shares and (ii) deduct as an ordinary loss in each such taxable year the excess, if any, of the adjusted tax basis of the common shares over the fair market value of such common shares held at the end of the taxable year, but such deduction will only be allowed to the extent of the net amount previously included in income as a result of the mark-to- market election. The U.S. Holder's adjusted tax basis in the common shares would be adjusted to reflect any income or loss resulting from the mark-to-market election. If a U.S. Holder makes a mark-to-market election in respect of the common shares and we cease to be classified as a PFIC, the holder will not be required to take into account the gain or loss described above during any period that we are not classified as a PFIC. If a U.S. Holder makes a mark-to-market election, any gain such U.S. Holder recognizes upon the sale or other disposition of the common shares in a year when we are a PFIC will be treated as ordinary income and any loss will be treated as ordinary loss, but such loss will only be treated as ordinary loss to the extent of the net amount previously included in income as a result of the mark-to-market election.

If we are determined to be a PFIC, we do not intend to provide the information necessary for a U.S. Holder to make a qualified electing fund, or QEF, election with respect to the common shares which, if available, would result in a tax treatment different from (and generally less adverse than) the general tax treatment for PFICs.

A U.S. Holder that owns (or is deemed to own) shares in a PFIC during any taxable year of the U.S. Holder generally is required to file an IRS Form 8621 with such U.S. Holder's U.S. federal income tax return and provide such other information as the IRS may require. Failure to file IRS Form 8621 for each applicable taxable year may result in substantial penalties and the statute of limitations on the assessment and collection of U.S. federal income taxes of such U.S. Holder for the related taxable year may not close until three years after the date on which the required information is filed.

The rules dealing with PFICs are very complex and are affected by various factors in addition to those described above. Accordingly, U.S. Holders of common shares are urged to consult their tax advisors concerning the application of the PFIC rules to their common shares under their particular circumstances.

***Additional Reporting Requirements***

Certain U.S. Holders holding specified foreign financial assets with an aggregate value in excess of the applicable dollar thresholds are required to report information to the IRS relating to such assets, subject to certain exceptions (including an exception for specified foreign financial assets held in accounts maintained by U.S. financial institutions), by attaching a complete IRS Form 8938 to their tax return, for each year in which they hold such assets. Failure to file IRS Form 8938 for each applicable taxable year may result in substantial penalties and the statute of limitations on the assessment and collection of U.S. federal income taxes of such U.S. Holder for the related taxable year may not close until three years after the date on which the required information is filed. U.S. Holders should consult their tax advisors regarding the effect, if any, of these rules on the ownership and disposition of the common shares.

***Information Reporting and Backup Withholding***

Information reporting requirements may apply to cash received in redemption of the common shares, dividends paid on the common shares and the proceeds received on the disposition of the common shares effected within the United States (and, in certain cases, outside the United States), in each case other than with respect to U.S. Holders that are exempt recipients (such as corporations). Backup withholding may apply to such amounts if the U.S. Holder fails to provide an accurate taxpayer identification number (generally on an IRS Form W-9 provided to the paying agent of the U.S. Holder's broker) or is otherwise subject to backup withholding. U.S. Holders should consult their tax advisors regarding the application of the U.S. information reporting and backup withholding rules.

**F.** **Dividends and Paying Agents** 

Not applicable.

**G.** **Statement by Experts** 

Not applicable.

**H.** **Documents on Display** 

We are subject to certain information reporting requirements of the Exchange Act, applicable to foreign private issuers and under those requirements will file reports with the SEC. The SEC maintains an Internet website that contains reports and other information regarding issuers that file electronically with the SEC. Our filings with the SEC will also available to the public through the SEC's website at www.sec.gov.

As a foreign private issuer, we are exempt from the rules under the Exchange Act related to the furnishing and content of proxy statements. Section 8103 of the National Defense Authorization Act for Fiscal Year 2026, named the "Holding Foreign Insiders Accountable Act", which was signed into law on December 18, 2025, will require directors and officers of foreign private issuers to make insider reports under *Section 16*(a) of the Exchange Act, effective March 18, 2026. Our principal shareholders continue to remain exempt from the reporting under Section 16(a) of the Exchange Act and our directors, officers and principal shareholders continue to remain exempt from the short-swing profit recovery provisions contained in Section 16(b) of the Exchange Act. In addition, we are not required under the Exchange Act to file annual, quarterly and current reports and financial statements with the SEC as frequently or as promptly as U.S. domestic companies whose securities are registered under the Exchange Act. However, we will file with the SEC, within 120 days after the end of each fiscal year, or such applicable time as required by the SEC, an annual report containing financial statements audited by an independent registered public accounting firm, and may submit to the SEC, on a Form 6-K, unaudited half-yearly financial information.

We maintain a corporate website *https://fortproducts.co.uk/*. Information contained on, or that can be accessed through, our website and the other websites referenced above do not constitute a part of this registration statement. We have included these website addresses in this registration statement solely as inactive textual references.

**I.** **Subsidiary Information** 

Not applicable.

**J.** **Annual Report to Security Holders** 

Not applicable.

**ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.**

We are exposed to market risks in the ordinary course of our business. Market risk represents the risk of loss that may impact our financial position due to adverse changes in financial market prices and rates. Our current investment policy is to invest available cash in bank deposits with banks that have a credit rating of at least A-minus. Accordingly, some of our cash and cash equivalents are held in deposits that bear interest. Given the current low rates of interest we receive, we will not be adversely affected if such rates are reduced. Our market risk exposure is primarily a result of U.S. dollar/Canadian dollar, GBP/ Canadian dollar and GBP/U.S. Dollar exchange rates, which is discussed in detail in the following paragraph.

**Impact of Inflation and Currency Fluctuations**

Our functional and reporting currency is the United States dollar. We incur some of our expenses in other currencies, such as Canadian dollars, GBP and Euros, and we also have interest income in GBP. As a result, we are exposed to the risk that the rate of inflation in countries in which we are active other than the United Dtates will exceed the rate of devaluation of such countries' currencies in relation to the dollar or that the timing of any such devaluation will lag behind inflation in such countries.

Global inflation has risen in 2024. To date, we have not been subject to inflationary pressures. However, to mitigate any identified potential inflationary pressures, we purchased more inventory at the beginning of the year in order to avoid price increases that may be caused by the increase in inflation or shipping costs. We cannot assure you that we will not be adversely affected in the future.

The annual rate of inflation in the United States, the United Kingdom, Canada, and the Eurozone was approximately 3.4%, 3.1%, 2.4%, and 2.6%, respectively, in 2024, compared to 3.2%, 3.9%, 3.9%, and 5.4% in 2023. The U.S. dollar appreciated against the Canadian dollar by approximately 8.8% in 2024 and depreciated 2.4% in 2023; appreciated against the British pound by approximately 7.1% in 2024 and depreciated 3.1% in 2023; and the euro depreciated against the U.S. dollar by approximately 1.5% in 2024 and appreciated 2.0% in 2023.

**Credit Risk**

Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The Company's financial assets consist of cash and cash equivalents. The Company's maximum exposure to credit risk, as at period-end, is the carrying value of its financial assets. The Company mitigates credit risk by holding financial instruments within financial institutions of high creditworthiness.

**Liquidity Risk**

Liquidity risk is the risk that the Company will not be able to meet its financial obligations when they come due. The Company currently settles its financial obligations with cash. The ability to do this relies on the Company raising equity financing in a timely manner and by maintaining sufficient cash in excess of anticipated needs. The Company's approach to managing liquidity risk is to ensure that it will have sufficient liquidity to meet liabilities when they come due. As at December 31, 2024, the Company had a cash and cash equivalents balance of $1,056,175 and financial liabilities of $20,814.

**Interest Rate Risk**

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is not exposed to any significant interest rate risk.

**Market Risk**

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market prices. Market risk comprises three types of risk: foreign currency risk, interest rate risk and other price risk. The Company is not exposed to significant market risk.

**ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES**

**A.** **Debt Securities.** 

Not applicable.

**B.** **Warrants and rights.** 

Not applicable.

**C.** **Other Securities** 

Not applicable.

**D.** **American Depositary Shares** 

Not applicable.

**PART II**

**ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES**

None.

**ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS**

Not applicable.

**ITEM 15. CONTROLS AND PROCEDURES**

Not applicable.

**ITEM 16. [RESERVED]**

**ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT**

Not applicable.

**ITEM 16B. CODE OF ETHICS**

Not applicable.

**ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES**

 ****

Not applicable.

**ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES**

Not applicable.

**ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS**

Not applicable.

**ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT**

On August 21, 2025, our shareholders appointed Brightman Almagor Zohar & Co., a Firm in the Deloitte Global Network, or Deloitte Israel, as our independent auditors for the fiscal year ending December 31, 2025, instead of Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, or DMCL LLP. DMCL LLP issued an opinion on the financial statements of Impact Acquisition Corp. for the years ending December 31 2024 and 2023 as originally issued in Canda in March 2025, prior to consummation of the Share Purchase Agreement in July 2025. Additionally, subsequent to August 21, 2025, Deloitte Israel were engaged to perform the PCAOB audit of the recast financial statements of 2024 and 2023 of the Company included in this Form 20-F, reflecting the financial information the accounting acquirer in the Share Purchase Agreement, Fort Products LTD. DMCL LLP did not provide any services relating to our unaudited financial statements for the nine months period ended on September 30, 2025 included in this registration statement.

DMCL LLP's report on the financial statements for the fiscal years ended December 31, 2023 and 2024, contained no adverse opinion or disclaimer of opinion, and was not qualified or modified as to uncertainty, audit scope or accounting principle, other than to include an explanatory paragraph relating to the Company's ability to continue as a going concern.

During the fiscal years ended December 31, 2023 and 2024, and in the subsequent interim periods through August 21, 2025, the date of appointment of Deloitte Israel, there were no disagreements with DMCL LLP on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction, would have caused them to make reference to the subject matter of the disagreements in its report on the financial statements for such year. During the fiscal year ended December 31, 2024, and in the subsequent interim period through August 21, 2025, there were no reportable events as defined in Item 304(a)(1)(v) of Regulation S-K. DMCL LLP provided us with a letter, dated , 2025, addressed to the Commission stating that it agreed with the above disclosure.

Effective August 21, 2025, Brightman Almagor Zohar & Co., a Firm in the Deloitte Global Network, was appointed as our new independent registered public accounting firm.

During the fiscal years ended December 31, 2023 and 2024, and the subsequent interim periods prior to the engagement of Brightman Almagor Zohar & Co., we did not consult Brightman Almagor Zohar & Co. regarding (i) the application of accounting principles to any specified transaction, either completed or proposed; (ii) the type of audit opinion that might be rendered on our financial statements, and either a written report was provided to the registrant or oral advice was provided that the new accountant concluded was an important factor considered by the registrant in reaching a decision as to the accounting, auditing or financial reporting issue; or (iii) any matter that was either the subject of a disagreement (as defined in Item 304(a)(1)(v)) of Regulation S-K or a reportable event (as defined in Item 304(a)(1)(v)) of Regulation S-K.

**ITEM 16G. CORPORATE GOVERNANCE**

As a foreign private issuer, we will be permitted, and intend, to follow certain home country corporate governance practices instead of those otherwise required by the Nasdaq for domestic U.S. issuers. Following our home country governance practices as opposed to the requirements that would otherwise apply to a U.S. company listed on may provide less protection to you than what is accorded to investors under the Nasdaq Rules applicable to domestic U.S. issuers.

Accordingly, we have elected to follow the provisions, of the BCBCA rather than the Nasdaq Stock Market Rules, with respect to the following requirements:

●  ***Distribution of periodic reports to shareholders; proxy solicitation*** . As opposed to the Nasdaq Stock Market rules, which require listed issuers to make such reports available to shareholders in one of a number of specific manners, Canadian law does not require us to distribute periodic reports directly to shareholders, and the generally accepted business practice in Canada is not to distribute such reports to shareholders but to make such reports available through a public website. In addition to making such reports available on a public website, we file our interim and annual financial statements along with the respective management's discussion and analysis on SEDAR+ at <u>www.sedarplus.com</u> as well as make such financial statements available to our shareholders at our offices and will only mail such reports to shareholders upon request.

●  ***Quorum.*** Under applicable Canadian law, a company is entitled to determine in its articles the number of shareholders and percentage of holdings required for a quorum at a shareholders meeting. Ourarticles provide that a quorum requires persons present being not less than two (2) in number and holding or representing not less than five (5%) per cent of the shares entitled to vote at such meeting for commencement of business at a general meeting.

●  ***Nomination of our directors*** *.* With the exception of directors elected by our board of directors, our directors are elected by an annual meeting of our shareholders to hold office until the next annual meeting following one year from his or her election. The nominations for directors, which are presented to our shareholders by our board of directors, are generally made by the board of directors itself, in accordance with the provisions of our articles and the BCBCA. While we intend to establish a nominating committee upon the effectiveness of the listing of our common shares on Nasdaq, nominations need not be made by a nominating committee of our board of directors consisting solely of independent directors, as required under the rules.

●  ***Compensation of officers*** *.* Canadian law and our articles do not require that the independent members of our board of directors (or a compensation committee composed solely of independent members of our board of directors) determine the compensation of officers. Instead, compensation of executive officers is determined and approved by our compensation committee that will be established upon the effectiveness of the listing of our common shares on Nasdaq and our board of directors.

●  ***Independent directors*** *.* Canadian law does not require that a majority of the directors serving on our board of directors be "independent," as defined under applicable Nasdaq rules.

● We are required, however, to ensure that all members of our audit committee are "independent" under the applicable Nasdaq rules and SEC criteria for independence (as we cannot exempt ourselves from compliance with that SEC independence requirement, despite our status as a foreign private issuer), and we must also ensure that all of the members of our Audit Committee are "independent directors" as defined in Canadian Securities Administrators National Instrument 52-110 "*Audit Committees* ", or NI 52-110. Furthermore, Canadian law does not require, nor do our independent directors conduct, regularly scheduled meetings at which only they are present, which the applicable U.S. exchange rules otherwise require. Additionally, we are required, by virtue of listing on the TSXV, to have at least two "independent" (as such term is defined in NI 52-110) directors. Thought not mandatory requirements, there are also additional recommendations pursuant to National Policy 58-201 – *Corporate Governance Guidelines* in relation to composition of our various committees and the board of directors.

●  ***Approval of Related Party Transactions.*** All related party transactions are approved in accordance with the requirements and procedures for approval of interested party acts and transactions as set forth in applicable Canadian Securities Laws and TSXV policies, which requires the approval of shareholders and formal valuations, as may be applicable, for specified transactions.

**ITEM 16H. MINE SAFETY DISCLOSURE**

Not applicable.

**ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS**

Not applicable.

**ITEM 16J. INSIDER TRADING POLICIES**

Not applicable.

**ITEM 16K. CYBERSECURITY**

Not applicable.

**PART III**

**ITEM 17. FINANCIAL STATEMENTS**

We have elected to provide financial statements and related information pursuant to Item 18.

**ITEM 18. FINANCIAL STATEMENTS**

The financial statements and the related notes required by this Item are included in this registration statement beginning on page F-1.

**ITEM 19. EXHIBITS**

The following documents are filed as part of this registration statement.

---

| | |
|:---|:---|
| **Number** | **Exhibit Description** |
| 1.1\* | [Amended and Restated Articles of Association of Fort Technology Inc.](ea027728901ex1-1.htm) |
| 4.1\*+ | [Equity Incentive Plan.](ea027728901ex4-1.htm) |
| 4.2\* | [Form of Indemnification Agreement.](ea027728901ex4-2.htm) |
| 4.3\*&# | [Share Purchase Agreement, dated February 6, 2025, by and between Jeffs' Brands Ltd., Fort Products Limited and Fort Technology Inc. (f/k/a Impact Acquisitions Corp.)](ea027728901ex4-3.htm) |
| 4.4\* | [Form of Contingent Right Certificate](ea027728901ex4-4.htm) |
| 4.5\* | [Services Agreement, dated July 7, 2025, by and between Fort Technology Inc. and Jeffs' Brands Ltd.](ea027728901ex4-5.htm) |
| 4.6\* | [Services Agreement, dated March 30, 2023, by and between Fort Products Limited and Jeffs' Brands Ltd.](ea027728901ex4-6.htm) |
| 4.7\*& | [Loan Agreement, dated August 8, 2025, by and between Fort Technology Inc., EEH Ventures Limited and Oxford Road Investments Limited](ea027728901ex4-7.htm) |
| 4.8\*& | [Guaranty Letter dated, August 15, 2025, by and between Oxford Road Investments Limited and Fort Technology Inc](ea027728901ex4-8.htm). |
| 4.9\*& | [Amendment No. 1 to Loan Agreement, dated January 13, 2026 by and between Fort Technology Inc., EEH Ventures Limited and Oxford Road Investments Limited](ea027728901ex4-9.htm) |
| 4.10\* | [Form of Convertible Debenture Certificate](ea027728901ex4-10.htm) |
| 4.11\* | [Form of Warrant Certificate](ea027728901ex4-11.htm) |
| 4.12\* | [Debt Settlement Agreement, dated December 24, 2025, among Fort Technology Inc. and Jeffs' Brands Ltd.](ea027728901ex4-12.htm) |
| 4.13\* | [Consulting Agreement, dated November 8, 2025, by and between Fort Technology, Inc. and Hike Capital Inc](ea027728901ex4-13.htm). |
| 8.1\* | [List of Subsidiaries.](ea027728901ex8-1.htm) |
| 15.1\* | [Consent of Brightman Almagor Zohar & Co., a Firm in the Deloitte Global Network, an independent registered public accounting firm.](ea027728901ex15-1.htm) |
| 16.1\* | [Letter from Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, an independent registered public accounting firm, dated March 3, 2026.](ea027728901ex16-1.htm) |
| 99.1\* | [Registrant's Representation Pursuant to Requirements of Form 20-F, Item 8.A.4](ea027728901ex99-1.htm) |

---

\* Filed herewith.

+ Compensatory arrangement.

& Portions of this exhibit (indicated by asterisks) have been omitted under rules of the U.S. Securities and Exchange Commission permitting the confidential treatment of select information.

# Certain schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company agrees to furnish supplementally a copy of any omitted schedule or exhibit to the SEC upon request.

**SIGNATURES**

The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this registration statement on Form 20-F filed on its behalf.

---

| | | |
|:---|:---|:---|
|  | **Fort Technology Inc.** | **Fort Technology Inc.** |
| Date: March 3, 2026 | By: | /s/ Gabriel Kabazo |
|  |  | Gabriel Kabazo |
|  |  | Chief Executive Officer |

---

**FORT TECHNOLOGY INC.**

**(Formerly Impact Acquisitions Corp.)**

UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2025 AND DECEMBER 31, 2024 AND<br> FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 AND 2024

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)**

UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2025<br> (unaudited)

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
|  | **Page** |
| [Unaudited Interim Condensed Consolidated Statements of Financial Position](#f_001) | F-3 |
| [Unaudited Interim Condensed Consolidated Statements of Profit and Loss](#f_002) | F-4 |
| [Unaudited Interim Condensed Consolidated Statements of Changes in Shareholder's Equity](#f_003) | F-5 |
| [Unaudited Interim Condensed Consolidated Statements of Cash Flows](#f_004) | F-6 |
| [Notes to the Unaudited Interim Condensed Consolidated Financial Statements](#f_005) | F-7 - F-17 |

---

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

---

| | | | |
|:---|:---|:---|:---|
|  | | **September 30,**<br>**2025** | **December 31,**<br>**2024** |
|  | | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| **<u>Assets</u>** |  |  |  |
| **CURRENT ASSETS:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents |  | 359 | 546 |
| &nbsp;&nbsp;&nbsp;Short term deposit |  | 352 |  |
| &nbsp;&nbsp;&nbsp;Trade receivables |  | 254 | 116 |
| &nbsp;&nbsp;&nbsp;Other receivables |  | 516 | 51 |
| &nbsp;&nbsp;&nbsp;Inventory | 4 | 3451 | 3119 |
|  |  | 4932 | 3832 |
| **NON-CURRENT ASSETS:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Convertible loan receivable | 3b | 2970 |  |
| &nbsp;&nbsp;&nbsp;Right of use assets |  | 202 | 250 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net |  | 119 | 135 |
|  |  | 3291 | 385 |
| **TOTAL ASSETS** |  | 8223 | 4217 |
| **<u>Liabilities and equity</u>** |  |  |  |
| **CURRENT LIABILITIES:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Trade payables |  | 597 | 505 |
| &nbsp;&nbsp;&nbsp;Lease liability |  | 54 | 48 |
| &nbsp;&nbsp;&nbsp;Other payables |  | 191 | 253 |
| &nbsp;&nbsp;&nbsp;Loan commitment liability | 3b | 258 |  |
| &nbsp;&nbsp;&nbsp;Related parties payable | 9 | 2463 | 1775 |
|  |  | 3563 | 2581 |
| **NON-CURRENT LIABILITIES:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Lease liability |  | 173 | 199 |
| &nbsp;&nbsp;&nbsp;Convertible debentures | 3 | 3063 |  |
| &nbsp;&nbsp;&nbsp;Deferred taxes |  | 30 | 33 |
|  |  | 3266 | 232 |
| **TOTAL LIABILITIES** |  | 6829 | 2813 |
| **SHAREHOLDER'S EQUITY:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Common shares and additional paid in capital |  | 4421 | (\*)- |
| &nbsp;&nbsp;&nbsp;Stock-based compensation reserve |  | 10 |  |
| &nbsp;&nbsp;&nbsp;Convertible debentures reserve | 3c | 185 |  |
| &nbsp;&nbsp;&nbsp;Retained earnings |  | (3222) | 1404 |
| **TOTAL EQUITY** |  | 1394 | 1404 |
| **TOTAL LIABILITIES AND EQUITY** |  | 8223 | 4217 |

---

---

| | |
|:---|:---|
| (\*) | Amount less than $1 thousand |

---

**The accompanying notes are an integral part of the unaudited interim condensed consolidated financial statements.**

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Nine months ended<br> September 30,** | **Nine months ended<br> September 30,** | **Three months ended <br> September 30,** | **Three months ended <br> September 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | **U.S. dollars in thousands(\*)** | **U.S. dollars in thousands(\*)** | **U.S. dollars in thousands(\*)** | **U.S. dollars in thousands(\*)** |
| Revenues | 8050 | 6444 | 3127 | 1985 |
| Cost of revenues | 7357 | 5188 | 2989 | 1474 |
| **Gross profit** | 693 | 1256 | 138 | 511 |
| Operating expenses: |  |  |  |  |
| Sales and marketing | 809 | 435 | 438 | 152 |
| General and administrative | 615 | 168 | 370 | 71 |
| Other expenses | - | 116 | - | 39 |
| **Operating profit (loss)** | (731) | 537 | (670) | 249 |
| Listing expenses (see Note 3a) | 3784 |  | 3784 |  |
| &nbsp;&nbsp;&nbsp;Financial income | 32 |  | 32 |  |
| &nbsp;&nbsp;&nbsp;Financial expenses | 137 | 44 | 103 | 26 |
| Financial expenses (income), net | 105 | 44 | 71 | 26 |
| **Profit (loss) before taxes** | (4620) | 493 | (4525) | 223 |
| Tax expenses | 6 | 93 | 5 | 4 |
| **Net profit (loss) and total comprehensive income (loss)** | (4626) | 400 | (4530) | 219 |
| Profit (loss) per common share (basic and diluted) | (0.58) | 0.06 | (0.48) | 0.04 |
| Weighted average number of common shares outstanding (\*\*) | 7907528 | 7142857 | 9428468 | 7142857 |

---

(\*) Except share and per share information

(\*\*) Retrospectively adjusted to reflect the exchange ratio in the SPA consummated on July 7, 2025, see Note 1(a), and the Reverse Share Splits effected on October 1, 2025 and February 18, 2026, see Note 1(d).

**The accompanying notes are an integral part of the unaudited interim condensed consolidated financial statements.**

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)**

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDER'S EQUITY

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of common shares(\*\*)** | **Common shares and additional paid in capital** | **Stock-based compensation reserve** | **Convertible debentures reserve** | **Retained earnings** | **Total** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| **Balance as of December 31, 2024** | **7142857** | **(\*)** | **-** |  | **1404** | **1404** |
| Effect of reverse recapitalization transaction (Note 3a) | 2378572 | 4168 | **-** |  |  | 4168 |
| Issuance of convertible debentures (Note 3c) |  |  | **-** | 185 | **-** | 185 |
| Share-based payment in connection with issuance costs of convertible debentures | 128828 | 242 | **-** |  |  | 242 |
| Exercise of warrants | 11260 | 11 | **-** |  |  | 11 |
| Share-based payment |  |  | 10 |  |  | 10 |
| Net loss for the period | - | - | **-** | - | (4626) | (4626) |
| **Balance as of September 30, 2025** | **9661517** | **4421** | **10** | **185** | **(3222)** | **1394** |
| **Balance as of December 31, 2023** | **7142857** | **(\*)** | **-** |  | **1044** | **1044** |
| Net profit for the period | - | **-** | **-** | - | 400 | 400 |
| **Balance as of September 30, 2024** | **7142857** | (\*) | **-** | - | **1444** | **1444** |

---

---

| | |
|:---|:---|
| (\*) | Amount less than $1 thousand |

---

(\*\*) Retrospectively adjusted to reflect the exchange ratio in the SPA consummated on July 7, 2025, see Note 1(a), and the Reverse Share Splits effected on October 1, 2025 and February 18, 2026, see Note 1(d).

**The accompanying notes are an integral part of the unaudited interim condensed consolidated financial statements.**

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

---

| | | |
|:---|:---|:---|
|  | **Nine months ended <br> September 30,** | **Nine months ended <br> September 30,** |
|  | **2025** | **2024** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| **CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES:** |  |  |
| Net profit (loss) | (4626) | 400 |
| Adjustments required to reflect net cash from (used in) operating activities (see Appendix A): | 3314 | (454) |
| **Net cash used in operating activities** | (1312) | (54) |
| **CASH FLOWS USED IN INVESTING ACTIVITIES:** |  |  |
| Net increase in cash resulting from reverse recapitalization (Note 3a) | 4 |  |
| Changes in short term deposit | 236 |  |
| Investment in convertible loan receivable (Note 3b) | (2717) |  |
| Purchase of property and equipment | (6) | (11) |
| **Net cash used in investing activities** | (2483) | (11) |
| **CASH FLOWS USED IN FINANCING ACTIVITIES:** |  |  |
| Issuance of convertible debentures, net of issuance costs (Note 3c) | 3464 |  |
| Exercise of warrants | 11 |  |
| Lease payments | (51) | (38) |
| **Net cash from (used in) financing activities** | 3424 | (38) |
| **NET DECREASE IN CASH AND CASH EQUIVALENTS** | (371) | (103) |
| EXCHANGE DIFFERENCES ON CASH AND CASH EQUIVALENTS | 184 | 13 |
| **CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD** | 546 | 210 |
| **CASH AND CASH EQUIVALENTS AT END OF THE PERIOD** | 359 | 120 |
| **APPENDIX A:** |  |  |
| &nbsp;&nbsp;&nbsp;Adjustments required to reflect net cash from (used in) operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Revenues and expenses that do not involve cash flows: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exchange differences on cash and cash equivalents | (184) | (13) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in deferred taxes, net | (3) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 70 | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of discount on convertible debentures | 26 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share-based payment to employees | 10 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Listing expenses (non-cash) (Note 3a) | 3459 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revaluation of convertible loan receivable (Note 3b) | 34 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revaluation of loan commitment liability (Note 3b) | (3) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income on convertible loan receivable | (26) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lease financing expenses | 31 | 13 |
|  | 3414 | 36 |
| &nbsp;&nbsp;&nbsp;Changes in working capital: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in trade receivables | (138) | (151) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decrease (increase) in other receivables | (465) | 264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in related parties payable | 688 | 1699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in inventory | (332) | (2244) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) decrease in trade payables | 73 | (112) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decrease in other payables | 74 | 54 |
|  | 3314 | (454) |
| **Supplemental disclosure of cash flow information:** |  |  |
| Interest received | 5 |  |
| Interest paid | 6 | 2 |
| **Non-cash financing activity** |  |  |
| Share-based payment in connection with issuance costs of convertible debentures | 242 |  |

---

**The accompanying notes are an integral part of the unaudited interim condensed consolidated financial statements.**

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

**NOTE 1 - GENERAL** 

&nbsp;&nbsp;&nbsp;&nbsp;***a.***  ***Fort Technology Inc.*** 

 

Fort Technology Inc. (formerly Impact Acquisitions Corp.) (the "Company") was incorporated on December 5, 2019, under the Business Corporations Act (British Columbia). The Company was a Capital Pool Company (the "CPC") as defined in the TSX Venture Exchange (the "Exchange") Policy 2.4. The principal business of the Company since incorporation and until closing of the SPA (see below) on July 7, 2025 was the identification and evaluation of assets or business with a view to potentially acquire them or an interest therein by an option or any concomitant transaction. The purpose of such acquisition was to satisfy the related conditions of a qualifying transaction under the policies of the Exchange.

On February 6, 2025, Jeffs' Brands Ltd. (the "Jeffs' Brands") signed a Share Purchase Agreement (the "SPA") for the sale of all the shares of Fort Products Limited (the "Fort") to the Company. On July 7, 2025, Jeffs' Brands closed the SPA and the Company changed its name to Fort Technology Inc. Pursuant to the closing of the SPA, Jeffs' Brands sold to the Company all of the issued and outstanding shares of Fort, in consideration for 7,142,857 common shares of the Company and up to an additional 4,714,287 common shares (the "Contingent Right Shares"), each at a deemed price per share of CAD 2.396 (approximately $1.76 per share), representing a post-closing common share interest in the Company of 75.02% (or up to 83.29% in the event of the full achievement of the milestones resulting in the issuance in full of the Contingent Right Shares).

The Contingent Right Shares will be issued to Jeffs' Brands upon the achievement of the following milestones:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. 1,571,429 common shares upon the completion of a transaction resulting in the listing of the Company's securities on the New York Stock Exchange, the Nasdaq Stock Market LLC, or another U.S. national securities exchange, if completed within 24 months from the closing date,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. 1,571,429 common shares upon the successful capital raising by the Company, within 48 months of the closing date, in equity and/or debt financing totalling at least $8 million,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. 1,571,429 common shares upon the Company reaching annual revenues of at least $15 million by December 31, 2028, as reflected in its audited financial statements.

 ****

&nbsp;&nbsp;&nbsp;&nbsp;***b.***  ***Fort Products Limited*** 

Fort, a private company incorporated under the laws of England and Wales, was established on November 25, 2005. Fort is engaged in the sale of pest control products primarily through Amazon.uk under its own trademarks: Roshield, Entopest, Rempro and Birdgo. Until the closing of the SPA, Fort was a wholly owned subsidiary of Jeffs' Brands, a public company traded on the NASDAQ Stock Market.

The acquisition of Fort by the Company, upon closing of the SPA, was accounted for as a reverse recapitalization. Fort was determined to be the "accounting acquirer" in the reverse recapitalization based on an evaluation of the guidance in IFRS 3, primarily because the shareholders of Fort (which is Jeffs' Brands) received the majority voting interest in the Company, which confers the ability to elect or remove a majority of the governing body, and because Fort's former management dominates the senior management of the combined entity. As a result, the historical financial statements of the Company were replaced with the historical financial statements of Fort. See Note 3a for further details of the accounting treatment.

&nbsp;&nbsp;&nbsp;&nbsp;***c.***  ***Fort Products LLC*** 

On September 11, 2025, Fort and Jeffs' Brands Holdings Inc. (a wholly owned subsidiary of Jeffs' Brands) entered into a membership interests transfer agreement, pursuant to which Jeffs' Brands Holdings assigned to Fort all of the membership interest in Fort Products LLC (then. a wholly owned subsidiary of Jeffs' Brands Holdings), such that Fort Products LLC became a wholly owned subsidiary of Fort. The membership interests transfer agreement was considered as business combination under common control and accounted in a manner similar to pooling-of-interests with an immaterial consideration.

Fort Products LLC was incorporated in 2023, and did not have operations since incorporation and through the issuance date of these financial statements. Also, the Company did not have any material assets during this period.

The Company and its subsidiaries, Fort and Fort Products LLC, are collectively referred to as the "Group". Additionally, Jeffs' Brands became the parent company.

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

**NOTE 1 - GENERAL** (continued)

&nbsp;&nbsp;&nbsp;&nbsp;***d.***  ***Reverse Share Split*** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) On October 1, 2025, the Company effected a one-for-seven (1-for-7) reverse share split of its issued and
outstanding common shares. As a result, every seven (7) shares of common shares issued and outstanding were combined into one common share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) On February 18, 2026, the Company effected a one-for-two (1-for-2) reverse share split of its issued and
outstanding common shares. As a result, every two (2) shares of common shares issued and outstanding were combined into one common share.

All outstanding securities entitling their holders to purchase or receive common shares of the Company were adjusted pursuant to their terms as a result of the reverse share splits. The reverse share splits did not affect the number of common shares authorized for issuance. All share amounts, per share data and exercise prices have been adjusted retroactively within these financial statements to reflect the reverse share splits.

**NOTE 2 - BASIS OF PREPARATION**

The Company's unaudited interim condensed consolidated financial statements have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standard Board and Interpretations (collectively IFRS accounting standards). These unaudited interim condensed consolidated financial statements have been prepared in accordance with International Accounting Standards IAS 34, "Interim Financial Reporting".

These unaudited interim condensed consolidated financial statements do not include all the information required for annual consolidated financial statement and should be read in conjunction with the annual financial statements as of December 31, 2024.

The material accounting policies applied in the annual financial statements as of December 31, 2024 are applied consistently in these unaudited interim condensed consolidated financial statements.

The results for the nine month period ended September 30, 2025 are not necessarily indicative of the results for the year ending December 31, 2025, or for any future period.

The unaudited interim condensed consolidated financial statements were authorized for issuance by the Board of Directors on December 1, 2025.

**Estimates**

The preparation of the unaudited interim condensed consolidated financial information requires management to make assumptions, estimates, and judgments that affect the application of policies and reported amounts of assets and liabilities and disclosures of assets and liabilities at the date of the interim condensed consolidated financial statements, along with reported amounts of expenses and net losses during the period. Actual results may differ from these estimates, and as such, estimates and underlying assumptions are reviewed on an ongoing basis.

**Short-term deposits**

Short-term deposits are deposits with an original maturity of more than three months from the investment date and which do not meet the definition of cash equivalents. The deposits are presented according to their terms of deposit.

**Income taxes in interim financial statements**

Income tax expense (income) for the periods presented includes the total current taxes, as well as the total change in deferred tax balances.

Current tax expense (income) are accrued using the tax rate that is expected to be applicable for the full financial year, adjusted for certain discrete items which occurred in the interim period in accordance with IAS 34.

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

**NOTE 3 - SIGNIFICANT EVENTS DURING THE PERIOD**

&nbsp;&nbsp;&nbsp;&nbsp;a. **Reverse recapitalization and listing expense** 

As described in Note 1a, on July 7, 2025, the Company completed the acquisition of all of the issued and outstanding shares of Fort from Jeffs' Brands (the "Transaction"). Following the Transaction, Jeffs' Brands, the former sole shareholder of Fort, obtained control of the Company. For accounting purposes, the Transaction has been accounted for as a reverse recapitalization, with Fort identified as the accounting acquirer and the Company identified as the accounting acquiree.

The Company, the accounting acquiree, did not meet the definition of a business in IFRS 3 *Business Combinations*. Accordingly, the Transaction has been accounted for as a reverse recapitalization and an equity-settled share-based payment transaction for the provision of a stock exchange listing and related services in accordance with IFRS 2 *Share-based Payment*. The share-based payment for stock exchange listing and related services had been recorded in profit or loss and measured as the excess of fair value of the Company's common shares issued to acquire the Company over the fair value of the Company's identifiable net assets acquired.

As consideration for the acquisition of the Company's net assets and the provision of stock exchange listing and related services, the Company is considered to have issued, on the closing of the Transaction, 2,378,572 common shares to the former shareholders of the Company, representing 24.98% equity interests deemed to have been issued by Fort in exchange to the acquired assets, with an aggregate fair value of $4,168 thousand. The fair value of the equity interests was measured at the closing market price of the Company's publicly traded shares on July 7, 2025 which was CAD 2.40 per share (approximately $1.76 per share). The Contingent Right Shares are considered an integral part of the Transaction, as they have non-vesting conditions, and therefore their measurement is included as part of the deemed consideration issued to the Company's shareholders as a share-based payment for the listing service which is already reflected in the fair value of the Company's shares in the market at the date of the Transaction.

The identifiable net assets of the Company (legal acquiree) at the acquisition date were as follows:

---

| | |
|:---|:---|
|  | **July 7,**<br>**2025** |
|  | **U.S. dollars in thousands** |
| Cash and cash equivalents | 4 |
| Deposit | 588 |
| Prepaid expenses | 136 |
| Trade payables | (19) |
| Net assets acquired | 709 |

---

The fair value of the common shares issued in excess of the net assets acquired represents the cost of the stock exchange listing related services and advisory and other services received, and has been recognized as a listing expense in profit or loss for the period, as follows:

---

| | |
|:---|:---|
|  | **July 7,**<br>**2025** |
|  | **U.S. dollars in thousands** |
| Fair value of 2,378,572 common shares | 4168 |
| Less: net assets acquired | (709) |
| Direct legal expenses incurred on the Transaction | 325 |
| Listing expenses recognized in profit or loss | 3784 |

---

For periods prior to the Transaction, the unaudited interim condensed consolidated financial statements present the results of Fort, as the accounting acquirer, with comparative information recasted accordingly. The equity structure presented in these unaudited interim condensed consolidated financial statements, adjusted to the equity structure of the legal parent, Fort Technology Inc. (formerly Impact Acquisitions Corp).

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

**NOTE 3 - SIGNIFICANT EVENTS DURING THE PERIOD** (continued)

&nbsp;&nbsp;&nbsp;&nbsp;b. **Convertible loan to EEH Ventures Ltd. ("EEH") and loan commitment liability** 

On August 8, 2025, the Company entered into a convertible loan agreement with EEH, a privately held United Kingdom company engaged in residential real estate investment and development. Under the agreement the Company provided a loan (the "Primary Loan") in an amount of £2 million (approximately $2.7 million) to EEH. The loan is denominated in GBP, bears a fixed rate of interest of 7.5% and is repayable at maturity, 3 years from the drawdown date of the Primary Loan, unless earlier converted. The Company has the right, but not the obligation, to convert the outstanding principal and accrued interest of the Primary Loan into ordinary shares of EEH representing 19.9% of EEH's fully diluted share capital.

In addition, EEH has an option, exercisable one year after signing, to draw down an additional loan (the "Additional Loan") of up to £1 million (approximately $1.3 million) on similar terms. If the Additional Loan is drawn and subsequently converted, the combined conversion of the Primary Loan and Additional Loan would entitle the Company to receive shares representing up to 25% of EEH's fully diluted share capital.

As of September 30, 2025, only the Primary Loan had been drawn and no part of the loan had been converted into ordinary shares of EEH as at that date.

The Primary Loan is a non-derivative financial asset whose contractual cash flows (principal, interest and equity conversion feature) are not solely payments of principal and interest on the principal amount outstanding (SPPI), due to the equity conversion option that links the cash flows to the value of EEH's ordinary shares. Accordingly, the Primary Loan fails the SPPI test under IFRS 9 and does not qualify for measurement at amortized cost or FVOCI. The Company therefore classified the Primary Loan in its entirety as a financial asset measured at fair value through profit or loss (FVTPL) in accordance with IFRS 9.

The undrawn Additional Loan represents a contractual commitment to provide credit on terms that include an equity conversion feature and that are considered, in aggregate, to be potentially favorable to the borrower. The Company accounts for this undrawn Additional Loan as a loan commitment liability measured at FVTPL under IFRS 9.

The fair value of both the Primary Loan and the Additional Loan is determined using a Black-Scholes pricing model. As such, both instruments are classified within Level 3 of the fair value hierarchy. A summary of significant unobservable inputs (Level 3 inputs) used in measuring the fair value of the convertible loan receivable and loan commitment liability issued are as follows:

---

| | | |
|:---|:---|:---|
|  | **Convertible loan receivable** | **Loan commitment liability** |
| Conversion ratio of EEH's fully diluted share capital | 19.9% | 5.1% |
| Underlying asset value (GBP in thousands) | 12012 | 12012 |
| Expected term (years) | 3 | 2 |
| Exercise price (GBP in thousands) | 2485 | 1156 |
| Expected volatility | 29.78% | 27.52% |
| Risk-free interest rate | 3.72% | 3.92% |
| Expected dividend yield | 0 | 0 |

---

On initial recognition, the fair value of the Primary Loan (asset) and the Additional Loan (loan commitment liability) was £2,192 thousand (approximately $2,977 thousand) and £192 thousand (approximately $260 thousand), respectively. As of September 30, 2025, there was no change in fair value in GBP since initial recognition. The change in the US dollar carrying amounts between these dates arise from changes in GBP/USD exchange rate over the period. The net foreign exchange difference on the Primary Loan and the Additional Loan in the amount of $31 was recognized within financial expenses.

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

**NOTE 3 - SIGNIFICANT EVENTS DURING THE PERIOD** (continued)

&nbsp;&nbsp;&nbsp;&nbsp;c. **Issuance of convertible debentures** 

On August 21, 2025, the Company issued unsecured convertible debentures for an aggregate principal of CAD 5,000 thousand (approximately $3,630 thousand). The convertible debentures mature on August 21, 2027 (the "Maturity Date") and bear yearly interest of 10%, payable quarterly in cash (with the first interest payment for the period from issuance to September 30, 2025). The conversion prices was determined in US dollars at the date of issuance, by reference to the CAD/USD exchange rate on August 21, 2025, such that the related cash flows are fixed in US dollars.

Holders of the convertible debentures have the option to convert the principal amount into Units of the Company at any time from issuance up to the Maturity Date at a conversion price of $1.86 per Unit. Each Unit consists of one common share and one warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of $1.86 per share, exercisable until August 21, 2030. Any unconverted principal will be repayable in cash at the Maturity Date if the convertible debentures are not converted before then.

The convertible debentures are compound financial instrument with both a debt component and an equity component, accounted for in accordance with IAS 32 *Financial Instruments: Presentation* and IFRS 9 *Financial Instruments*. The debt component represents the Company's contractual obligation to repay principal and interest, and the equity component (which is shown as Convertible debenture reserve in the unaudited interim condensed consolidated statements of financial position) represents the holder's conversion feature.

On August 21, 2025, the Company allocated the proceeds from the issuance of the convertible debentures between a debt component and an equity component. The debt component was measured first at fair value, equal to the present value of the scheduled future cash flows (interest and principal) discounted at the estimated market interest rate for similar debt with no conversion features. The equity component was determined as the residual amount of the proceeds less the fair value of the debt component. The carrying amount of the equity component will remain fixed in value, while the debt component will be subsequently measured at amortized cost using the effective interest method under IFRS 9.

Issuance costs totaled $408 thousand comprised of: (1) the fair value of 128,828 common shares issued to advisors and certain investors in the amount of $242 thousand, and (2) $166 thousand paid to advisors and certain investors. The total issuance costs were allocated between the debt and equity components on a pro-rata basis, consistent with the amounts initially recognized for each component at the issuance date. The portion attributed to the equity component was recorded as a reduction of equity, while the portion attributed to the debt component was deducted from the carrying amount of the debt on initial recognition. Accordingly, the debt component was recognized at $3,422 thousand before the costs allocation and at $3,037 thousand after allocation of issuance costs, and the equity component was recognized at $208 thousand before the cost allocation and $185 thousand after such allocation.

From the issuance date to September 30, 2025, the Company recognized total finance costs of $64 related to the convertible debentures. This amount is comprised of $38 of accrued interest expense and $26 of additional non-cash interest expense arising from the accretion of the convertible debentures' debt component. All interest and accretion expenses related to the convertible debentures have been recognized within financial expenses.

The table below summarizes the carrying amount of the convertible debenture as of September 30, 2025 and August 21, 2025 (issuance date):

---

| | | |
|:---|:---|:---|
|  | **September 30,**<br>**2025** | **August 21,**<br>**2025** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| Proceeds | 3630 | 3630 |
| Less: Unamortized discount | (567) | (593) |
| &nbsp;&nbsp;&nbsp;Carrying amount | 3063 | 3037 |

---

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

**NOTE 4 - INVENTORY**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **September 30,** | **September 30,** | **December 31,** | **December 31,** |
|  | **2025** | **2025** | **2024** | **2024** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| Goods in transit |  | 319 |  | 389 |
| Finished goods | | 3,132 | | 2,730 |
|  | | 3,451 | | 3,119 |

---

**NOTE 5 - FINANCIAL INSTRUMENTS**

&nbsp;&nbsp;&nbsp;&nbsp;a. Assets and liabilities measured at amortized cost were presented on the unaudited interim condensed consolidated statements of financial position as follows:

---

| | | |
|:---|:---|:---|
|  | **September 30,**<br>**2025** | **December 31,**<br>**2024** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| **Amortized Cost** |  |  |
| **Assets:** |  |  |
| Cash and cash equivalents | 359 | 546 |
| Short term deposit | 352 |  |
| Trade receivables | 254 | 116 |
| Other receivables | 10 | 51 |
|  | 975 | 713 |
| **Liabilities:** |  |  |
| Trade payables | 597 | 505 |
| Other payables | 159 | 253 |
| Lease liability | 227 | 247 |
| Related party payable | 2463 | 1775 |
| Convertible debentures | 3063 | - |
|  | 6509 | 2780 |

---

&nbsp;&nbsp;&nbsp;&nbsp;b. Assets and liabilities measured in fair value were presented on the unaudited interim condensed consolidated statements of financial position as follows:

---

| | | |
|:---|:---|:---|
|  | **September 30,**<br>**2025** | **December 31,**<br>**2024** |
|  | **Level 3** | **Level 3** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| **Fair Value** |  |  |
| **Assets:** |  |  |
| Convertible loan receivable | 2970 |  |
|  | 2970 |  |
| **Liabilities:** |  |  |
| Loan commitment liability | 258 |  |
|  | 258 |  |

---

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

**NOTE 5 - FINANCIAL INSTRUMENTS** (continued)

Level 3 - Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices).

The Company has performed a sensitivity analysis of the fair value of convertible loan receivable and the loan commitment liability which are classified as level 3 financial instruments. The Company recalculated the fair value of the convertible loan receivable and the loan commitment liability by applying a +/- 5.0% change to the risk-free interest rate in the Black-Scholes pricing model. As of September 30, 2025, a 5.0% increase in the risk-free interest rate would increase the fair value of the convertible loan receivable to £2,204 (approximately $2,961 thousand) and the loan commitment liability to £204 (approximately $275 thousand); and a 5.0% decrease in risk-free interest rate would decrease the fair value of the convertible loan receivable to £2,178 thousand (approximately $2,926 thousand) and the loan commitment liability to £178 (approximately $240 thousand).

&nbsp;&nbsp;&nbsp;&nbsp;c. Liquidity risk management

Ultimate responsibility for liquidity risk management rests with the Board of Directors, which has established an appropriate liquidity risk management framework for management of the Company's short, medium and long-term funding and liquidity management requirements. The Company manages liquidity risk by maintaining adequate cash, cash equivalents and short term deposit by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

The following tables detail the Company's remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be required to pay. The table includes both principal and interest cash flows.

---

| | | |
|:---|:---|:---|
|  | **0-1 year** | **2-5 year** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| **As of September 30, 2025** | | |
| Trade payables | 597 |  |
| Lease liability | 70 | 192 |
| Other payables | 159 |  |
| Loan commitment liability | 258 |  |
| Related parties payables | 2463 |  |
| Convertible debentures | - | 3630 |
|  | 3547 | 3822 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **0-1 year** | **0-1 year** | **2-5 year** | **2-5 year** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| **As of December 31, 2024** | | | | |
| Trade payables |  | 505 |  |  |
| Lease liability |  | 48 |  | 199 |
| Other payables |  | 253 |  |  |
| Related parties payables | | 1,775 | | - |
|  | | 2,581 | | 199 |

---

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

**NOTE 5 - FINANCIAL INSTRUMENTS** (continued)

&nbsp;&nbsp;&nbsp;&nbsp;d. Foreign currency risk management

The Company undertakes transactions denominated in foreign currencies; consequently, exposures to exchange rate fluctuations arise. The carrying amounts of the Company foreign currency denominated monetary assets and liabilities at the reporting date are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **September 30,<br> 2025** | **September 30,<br> 2025** | **December 31,<br> 2024** | **December 31,<br> 2024** |
| **Assets** | | | | |
| CAD |  | 3348 |  |  |
| GBP |  | 983 |  | 530 |
| Euro |  | 37 |  | 14 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **September 30, <br> 2025** | **September 30, <br> 2025** | **December 31, <br> 2024** | **December 31, <br> 2024** |
| **Liability** | | | | |
| Euro |  | &nbsp;&nbsp;&nbsp;&nbsp;1 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |

---

**Foreign currency sensitivity analysis**

The Company is mainly exposed to the currency Euro and the currency of GBP.

The following table details the Company sensitivity to a 10 per cent increase and decrease in currency units against the relevant foreign currencies. 10 per cent is the sensitivity rate used when reporting foreign currency risk internally to key management personnel and represents management's assessment of the reasonably possible change in foreign exchange rates. The sensitivity analysis includes only outstanding foreign currency denominated monetary items and adjusts their translation at the year-end for a 10 per cent change in foreign currency rates.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Euro** | **Euro** | **GBP** | **GBP** | **CAD** | **CAD** |
|  | **September 30, <br> 2025** | **December 31, <br> 2024** | **September 30, <br> 2025** | **December 31, <br> 2024** | **September 30, <br> 2025** | **December 31, <br> 2024** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| Profit or loss | 3.67 | 1.4 | 25.35 | 45.3 | 309.01 |  |
| Equity | (3.67) | (1.4) | (25.35) | (45.3) | (309.01) |  |

---

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

**NOTE 6 - SHARE CAPITAL**

&nbsp;&nbsp;&nbsp;&nbsp;a. The share capital composed of common shares as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Number of common shares** | **Number of common shares** | **Number of common shares** | **Number of common shares** |
|  | **September 30, <br> 2025** | **September 30, <br> 2025** | **December 31, <br> 2024** | **December 31, <br> 2024** |
| Issued (\*) | | 9,661,517 | | 7,142,857 |

---

(\*) Retrospectively adjusted to reflect the exchange ratio in the SPA consummated on July 7, 2025, see Note 1(a), and the Reverse Share Splits effected on October 1, 2025 and February 18, 2026, see Note 1(d).

The Company has unlimited number of authorized common shares without par value.

The common shares confer upon their holders the following rights: (i) the right to vote in any general meeting of the Company, (ii) the right to receive dividends, if and when declared by the Board of Directors and (iii) the right to receive upon liquidation of the Company a sum equal to the nominal value of the share, and if a surplus remains, to receive such surplus, subject to the rights conferred on any class of shares which may be issued in the future.

&nbsp;&nbsp;&nbsp;&nbsp;b. During 2023, the Company declared dividends in the cumulative amount of GBP 186 thousand ($223 thousand). These dividends were paid in full during 2023.

&nbsp;&nbsp;&nbsp;&nbsp;c. Contingent Right Shares - pursuant to the SPA, the Company is committed to issue additional common shares to Jeffs' Brands up to 4,714,287 shares upon the achievement of certain milestones as elaborated in note 1(a).

&nbsp;&nbsp;&nbsp;&nbsp;d. Share option - The Company has a share option plan (the "Previous Plan") pursuant to which the Company's Board of Directors may grant incentive share options to the Company's officers, directors, other employees and consultants. Under the Previous Plan, the Company may grant options to purchase up to 10% of the issued and outstanding common shares of the Company. Share options granted may not exceed a term of 10 years, and the term will be reduced to 1 year following the death of the optionee. All share options vest when granted unless otherwise specified by the Board of Directors.

As of December 31, 2024, a total of 41,429 share options were outstanding and fully exercisable at an exercise price of CAD 1.40 per option (approximately $0.98 per option). These share options are scheduled to expire in March 2027.

On July 21, 2025, the Company adopted a new equity incentive plan (the "New Plan"), which was approved by the Company's shareholders on August 21, 2025 and replaces Previous Plan. Under the New Plan, the Company may grant share options, restricted share units ("RSUs") and performance-based awards to officers, directors, other employees, and consultants.

The New Plan is a fixed plan allowing the issuance of up to 1,904,479 common shares, representing 20% of the Company's issued and outstanding common shares as of the adoption date.

On September 15, 2025, the Company granted 139,287 RSUs to officers and members of the Board of Directors and 128,570 RSUs to consultants of the Company. The RSUs are, upon vesting, exchangeable on a one-for-one basis with common shares. Half of the RSUs granted will vest after one year and the other half will vest in four tranches over the second year from the date of grant. The RSUs are equity-settled share-based payment awards. The fair value of each RSU at the grant date was $2.32, based on the Company's common share price on their grant date. During 2025, no RSUs vested, forfeited, or expired. The Company recorded an expense of $10 thousand in respect of such grant, included in general and administrative expenses. As of September 30, 2025, unrecognized share-based compensation expense that will be recognized over the next 2 years is $289 thousand.

&nbsp;&nbsp;&nbsp;&nbsp;e. As of December 31, 2024, a total of 21,428 warrants were outstanding and fully exercisable at an exercise price of CAD 1.40 per option (approximately $0.98 per warrant). During 2025, 11,260 warrants were exercised in total consideration of 11 thousand.

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

**NOTE 7 - SEGMENTS**

As of September 30, 2025 and December 31, 2024, the Company had one operating segment, sale of pest control products. Revenues are attributed to geographic areas based on location of the end customers as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Nine months ended<br> September 30,** | **Nine months ended<br> September 30,** | **Three months ended <br> September 30,** | **Three months ended <br> September 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| United Kingdom | 7013 | 6235 | 2601 | 1863 |
| France(\*) | 466 | 174 | 205 | 93 |
| Other Europe | 571 | 35 | 321 | 29 |
| **Total revenues** | 8050 | 6444 | 3127 | 1985 |

---

(\*) In 2025, revenues from France were disclosed separately as they became material in accordance with IFRS 8. In previous year there was no material revenues to a single country within Europe.

Information about the Company's non-current assets (excluding financial instruments) by geographical location is detailed below:

---

| | | |
|:---|:---|:---|
|  | **September 30,**<br>**2025** | **December 31,**<br>**2024** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| United Kingdom (\*) | 321 | 385 |
| **Total** | 321 | 385 |

---

(\*) All of the Company's non-current assets are located in the United Kingdom. Non-current assets in other countries, if any, are not material and are therefore not disclosed separately.

**NOTE 8 - TAXES ON INCOME** 

&nbsp;&nbsp;&nbsp;&nbsp;a. **Taxes on income included in the unaudited interim condensed consolidated statements of profit or loss:** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Nine months ended<br> September 30,** | **Nine months ended<br> September 30,** | **Three months ended <br> September 30,** | **Three months ended <br> September 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| Current taxes | 9 | 89 | 9 | 1 |
| Deferred taxes | (3) | 4 | (4) | 3 |
|  | 6 | 93 | 5 | 4 |

---

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

**NOTE 9 - RELATED PARTIES**

**Transactions and balances with related parties**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Nine months ended<br> September 30,** | **Nine months ended<br> September 30,** | **Three months ended<br> September 30,** | **Three months ended<br> September 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| **Cost of revenues** |  |  |  |  |
| Management fees (a2) | 136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | 136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| **Sales and marketing** |  |  |  |  |
| Management fees (a2) | 109 |  | 109 |  |
| **General and administrative expenses:** |  |  |  |  |
| Directors' fees (a1) | 30 | 19 | 18 | 7 |
| Management fees (a2) | 27 |  | 27 |  |
| Professional services – CEO and CFO | 28 |  | 28 |  |
| **Other expenses:** |  |  |  |  |
| Management fees (a2) |  | 116 |  | 39 |
| **Financial expenses:** |  |  |  |  |
| Interest expenses on convertible debentures (a3) | 19 |  | 19 |  |

---

**Balances with related parties**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **September 30,** | **September 30,** | **December 31,** | **December 31,** |
|  | **2025** | **2025** | **2024** | **2024** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| Other receivables (a3) |  | 19 |  |  |
| Trade payables (a1) |  |  |  | 198 |
| Related parties payable (a2) |  | 2463 |  | 1775 |
| Convertible debentures (a3) |  | 1428 |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a1) The monthly fee of £1,600 (approximately $2,000).

&nbsp;&nbsp;&nbsp;&nbsp;(a2) On March 30, 2023, the Fort entered into a service
 agreement with Jeffs' Brands (the "Jeffs' Brands Service Agreement") pursuant to which Jeffs' Brands will
 provide various services to Fort. The Jeffs' Brands Service Agreement is for a period of 12 months starting March 2023 and renewed
 for additional successive 12 months period. On June 10, 2025, the Jeffs' Brands Service Agreement was amended to extend the term
 of the agreement to March 9, 2026, and will automatically renew for additional successive 12-month periods unless terminated by mutual
 agreement or 60 days' notice. Fees are determined by a transfer pricing study,
 which until December 31, 2024 was calculated based on a percentage of operating profit, complaint with applicable laws. Beginning January
 1, 2025, the fees are determined based on a new transfer pricing study based on cost-plus method. The new transfer pricing study was implemented
 during the third quarter of 2025 and applied retroactively to services rendered since January 1, 2025.Accordingly, Jeffs' Brands
 charges the Company and Fort the cost of employees related to the Company's and Fort activities (mainly costs related to Fort operation
 with Amazon) and their related overhead on a cost plus 8%.

&nbsp;&nbsp;&nbsp;&nbsp;(a3) In connection with the issuance of the convertible debentures (as described in Note 3c), Jeffs' Brands participated in the offering and acquired convertible debentures in an amount of approximately $1.6 million. In addition, one of the Company's director participated in the offering and acquired convertible debentures in an amount of approximately $94 thousand at the same terms of the rest of the participants. Interest receivables recorded in other receivables.

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

**NOTE 10 - SUBSEQUENT EVENTS** 

&nbsp;&nbsp;&nbsp;&nbsp;a. On October 1, 2025, the Company effected a 1 to 7 reverse share split. On February 18, 2026, the Company effected a 1 to 2 reverse share split. See Note 1(d).

&nbsp;&nbsp;&nbsp;&nbsp;b. On December 24, 2025, the Company entered into a debt settlement agreement with Jeffs' Brands. Pursuant to the agreement, On December 31, 2025, the Company issued 1,700,801 common shares to Jeffs' Brands in the aggregate fair value of approximately $2,463 thousand, in settlement of the related parties payable balance which was included in the Company's statement of financial position as of September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;c. On December 31, 2025, the Company received irrevocable conversion notices from all of the holders of the convertible debentures issued in August 2025 (see Note 3C). Pursuant to these notices, contingent upon and immediately following the effectiveness of the listing of the Company's common shares on Nasdaq, the aggregate outstanding principal amount of approximately $3,630 thousand will be automatically converted into 1,949,794 Units. Each Unit consists of one common share and one warrant.

&nbsp;&nbsp;&nbsp;&nbsp;d. On January 13, 2026. the Company entered into
 an amendment to the convertible loan agreement with EEH. Under the amendment, the option to provide the Additional Loan of £1 million
 was cancelled. In addition, the conversion mechanism of the existing
 loan was modified. Instead of a right to convert the outstanding Primary Loan into 19.9% of the EEH fully diluted share capital, the Company
 obtained the right, upon conversion of the Primary Loan, to receive from EEH all of its holdings of Wigan Topco Limited ("Wigan")
 representing 35.8% of the issued share capital of Wigan.

**FORT TECHNOLOGY INC.<br> (Formerly Impact Acquisitions Corp.)**

CONSOLIDATED FINANCIAL STATEMENTS

AS OF DECEMBER 31, 2024

**FORT TECHNOLOGY INC.<br> (Formerly Impact Acquisitions Corp.)**

CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
|  | **Page** |
| [Report of Independent Registered Public Accounting Firm (PCAOB ID No. 1197)](#fa_001) | F-21 |
| [Consolidated Statements of Financial Position](#fa_002) | F-22 |
| [Consolidated Statements of Profit and Loss](#fa_003) | F-23 |
| [Consolidated Statements of Changes in Shareholders' Equity](#fa_004) | F-24 |
| [Consolidated Statements of Cash Flows](#fa_005) | F-25 - F-26 |
| [Notes to the Consolidated Financial Statements](#fa_006) | F-27 - F-42 |

---

_____________________________

__________________________________________

_____________________________

![](ea027728901_img2.jpg)

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To the Shareholders and Board of Directors of Fort Technology Inc.

**Opinion on the Financial Statements**

We have audited the accompanying consolidated statements of financial position of Fort Technology Inc. and its subsidiaries (the "Company") as of December 31, 2024 and 2023, the related consolidated statements of profit and loss, changes in shareholders' equity and cash flows for each of the two years in the period ended December 31, 2024, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2024, in conformity with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB).

**Basis for Opinion**

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Brightman Almagor Zohar & Co.<br> Certified Public Accountants<br> A Firm in the Deloitte Global Network

Tel Aviv, Israel<br> October 22, 2025 (March 3, 2026, as to the effects of the reverse share split described in Notes 1(c)(2) and 12(h))

We have served as the Company's auditor since 2025.

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | | **December 31** | **December 31** | |
|  | | **2024** | **2023** | **January 1**<br>**2023** |
|  |<br>**Note** | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| **<u>Assets</u>** |  |  |  |  |
| **CURRENT ASSETS:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents |  | 546 | 210 | 727 |
| &nbsp;&nbsp;&nbsp;Trade receivables |  | 116 | 208 | 307 |
| &nbsp;&nbsp;&nbsp;Other receivables |  | 51 | 323 | 15 |
| &nbsp;&nbsp;&nbsp;Related parties receivables | 10 |  | 284 | 338 |
| &nbsp;&nbsp;&nbsp;Inventory | 3 | 3119 | 924 | 377 |
|  |  | 3832 | 1949 | 1764 |
| **NON-CURRENT ASSETS:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Right-of-use assets | 4 | 250 | 27 |  |
| &nbsp;&nbsp;&nbsp;Property and equipment, net |  | 135 | 10 | 25 |
|  |  | 385 | 37 | 25 |
| **TOTAL ASSETS** |  | 4217 | 1986 | 1789 |
| **<u>Liabilities and equity</u>** |  |  |  |  |
| **CURRENT LIABILITIES:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Trade payables |  | 505 | 499 | 168 |
| &nbsp;&nbsp;&nbsp;Lease liability | 4 | 48 | 36 |  |
| &nbsp;&nbsp;&nbsp;Other payables | 5 | 253 | 407 | 259 |
| &nbsp;&nbsp;&nbsp;Related parties payable | 10 | 1775 | - | - |
|  |  | 2581 | 942 | 427 |
| **NON-CURRENT LIABILITIES:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Lease liability | 4 | 199 |  |  |
| &nbsp;&nbsp;&nbsp;Deferred taxes |  | 33 | - | 4 |
|  |  | 232 | - | 4 |
| **TOTAL LIABILITIES** |  | 2813 | 942 | 431 |
| **SHAREHOLDERS' EQUITY:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common shares and additional paid in capital | 7 | (\*)- | (\*)- | (\*)- |
| &nbsp;&nbsp;&nbsp;Retained earnings |  | 1404 | 1044 | 1358 |
| **TOTAL SHAREHOLDERS' EQUITY** |  | 1404 | 1044 | 1358 |
| **TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY** |  | 4217 | 1986 | 1789 |

---

---

| | |
|:---|:---|
| (\*) | Amount less than $1 thousand |

---

**The accompanying notes are an integral part of the consolidated financial statements.**

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

CONSOLIDATED STATEMENTS OF PROFIT OR LOSS

---

| | | | |
|:---|:---|:---|:---|
|  | | **Year ended December 31** | **Year ended December 31** |
|  | | **2024** | **2023** |
|  |<br>**Note** | **U.S. dollars in thousands (\*)** | **U.S. dollars in thousands (\*)** |
| Revenues | 8a | 9875 | 6607 |
| Cost of revenues | 8b | 8226 | 5807 |
| **Gross profit** |  | 1649 | 800 |
| Operating expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;Sales and marketing | 8c | 656 | 189 |
| &nbsp;&nbsp;&nbsp;General and administrative | 8d | 326 | 292 |
| &nbsp;&nbsp;&nbsp;Other expenses | 8e | 139 | 374 |
| **Operating profit (loss)** |  | 528 | (55) |
| Financial income | 8f |  | (41) |
| Financial expenses | 8f | 31 | - |
| Financial expenses (income), net |  | 31 | (41) |
| **Profit (loss) before taxes** |  | 497 | (14) |
| Tax expenses | 6 | 137 | 78 |
| **Net profit (loss) and total comprehensive profit (loss) for the year** |  | 360 | (92) |
| Profit (loss) per common share (basic and diluted) |  | 0.05 | (0.012) |
| Weighted average common shares outstanding (\*\*) |  | 7142857 | 7142857 |

---

(\*) Except share and per share information

(\*\*) Retrospectively adjusted to reflect the exchange ratio in the SPA consummated on July 7, 2025, see Note 1(a), and the reverse share splits effected on October 1, 2025 and February 18, 2026, see Note 1(c).

**The accompanying notes are an integral part of the consolidated financial statements**

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | | **Common shares and additional<br> paid in<br> capital** |  | **Retained<br> earnings** | **Total** |
|  | **Number of<br> common**<br>**shares(\*)** | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| **Balance as of January 1, 2023** | **7142857** |  | (\*) | 1359 | 1359 |
| Net loss for the year | **-** |  |  | (92) | (92) |
| Dividend (see note 7b) | **-** |  |  | (223) | (223) |
| **Balance as of December 31, 2023** | **7142857** |  | (\*) | **1044** | **1044** |
| Net profit for the year | - |  |  | 360 | 360 |
| **Balance as of December 31, 2024** | **7142857** |  | (\*) | **1404** | **1404** |

---

(\*) Retrospectively adjusted to reflect the exchange ratio in the SPA consummated on July 7, 2025, see Note 1(a), and the reverse share splits effected on October 1, 2025 and February 18, 2026, see Note 1(c).

---

| | |
|:---|:---|
| (\*) | Amount less than $1 thousand |

---

**The accompanying notes are an integral part of the consolidated financial statements**

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

CONSOLIDATED STATEMENTS OF CASH FLOWS

---

| | | |
|:---|:---|:---|
|  | **Year ended December 31** | **Year ended December 31** |
|  | **2024** | **2023** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| **CASH FLOWS FROM (USED IN(OPERATING ACTIVITIES:** |  |  |
| Net profit (loss) for the year | 360 | (92) |
| Adjustments required to reflect net cash from (used in) operating activities (see Appendix A): | 163 | (214) |
| **Net cash from (used in) operating activities** | 523 | (306) |
| **CASH FLOWS USED IN INVESTING ACTIVITIES:** |  |  |
| Purchase of property and equipment | (132) | (2) |
| **Net cash used in investing activities** | (132) | (2) |
| **CASH FLOWS USED IN FINANCING ACTIVITIES:** |  |  |
| Dividend paid |  | (223) |
| Lease payments | (59) | (24) |
| **Net cash used in financing activities** | (59) | (247) |
| **NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS** | 332 | (555) |
| INCOME FROM EXCHANGE DIFFERENCES ON CASH AND CASH EQUIVALENTS | 4 | 38 |
| **CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR** | 210 | 727 |
| &nbsp;&nbsp;&nbsp;**CASH AND CASH EQUIVALENTS AT END OF THE YEAR** | 546 | 210 |

---

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)** 

CONSOLIDATED STATEMENTS OF CASH FLOWS

---

| | | |
|:---|:---|:---|
|  | **Year ended December 31** | **Year ended December 31** |
|  | **2024** | **2023** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| **APPENDIX A:** |  |  |
| &nbsp;&nbsp;&nbsp;Adjustments required to reflect net cash from (used in) operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Revenues and expenses that do not involve cash flows: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exchange differences on cash and cash equivalent | (4) | (38) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss from property and equipment disposal |  | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred taxes | 33 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 58 | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exchange rate differences on lease liability | (4) | 3 |
|  | 83 | 8 |
| &nbsp;&nbsp;&nbsp;Changes in working capital: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decrease in trade receivables | 92 | 99 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decrease (increase) in other receivables | 272 | (308) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in related parties receivables and payable | 2059 | 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in inventory | (2195) | (547) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Increase) decrease in trade payable and other payables | (147) | 480 |
|  | 80 | (222) |
|  | 163 | (214) |
| **Supplemental disclosure of cash flow information:** |  |  |
| Interest paid | 17 | - |
| Interest received | 10 |  |
| Taxes paid | 158 | - |
| **Non cash finance and investing activities** |  |  |
| Right-of-use assets obtained in exchange for lease liabilities | 273 | 57 |

---

**The accompanying notes are an integral part of the financial statements**

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)**

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

**NOTE 1 - GENERAL** 

&nbsp;&nbsp;&nbsp;&nbsp;***a.***  ***Fort Technology Inc.*** 

 

Fort Technology Inc. (formerly Impact Acquisitions Corp.) (the "Company") was incorporated on December 5, 2019 under the Business Corporations Act (British Columbia) (the "BCBCA"). The Company is a Capital Pool Company (the "CPC") as defined in the TSX Venture Exchange (the "Exchange") Policy 2.4. A CPC is a company with no substantial assets and liabilities other than cash, cash equivalents and short term deposits and no business operation. A CPC uses its funds to seek out an investment opportunity. Following, the closing of the SPA (as described below), which was a qualifying transaction under the policies of the Exchange, the Company ceased being a CPC. The principal business of the Company since incorporation and until closing of the SPA (see below) on July 7, 2025 was the identification and evaluation of assets or business with a view to potentially acquire them or an interest therein by an option or any concomitant transaction. The purpose of such acquisition was to satisfy the related conditions of a qualifying transaction under the policies of the Exchange.

On February 6, 2025, Jeffs' Brands Ltd. (the "Jeffs' Brands") signed a Share Purchase Agreement (the "SPA") for the sale of Fort Products Limited ("Fort") to the Company. On July 7, 2025, Jeffs' Brands closed the SPA and the Company changed its name to Fort Technology Inc. Pursuant to the SPA, Jeffs' Brands sold to the Company all of the issued and outstanding shares of Fort, in consideration for 7,142,857 common shares of the Company and up to an additional 4,714,287 common shares (the "Contingent Right Shares"), each at a deemed price per share of CAD 2.396 (approximately $1.76 per share), representing a post-closing common share interest in the Company of 75.02%.

The Contingent Right Shares will be issued to Jeffs' Brands upon the achievement of the following milestones:

&nbsp;&nbsp;&nbsp;&nbsp;i. 1,571,429 common shares upon the completion of a transaction resulting in the listing of the Company's securities on the New York Stock Exchange, the Nasdaq Stock Market LLC, or another U.S. national securities exchange, if completed within 24 months from the closing date,

&nbsp;&nbsp;&nbsp;&nbsp;ii. 1,571,429 common shares upon the successful capital raising by the Company, within 48 months of the closing date, in equity and/or debt financing totaling at least $8 million,

&nbsp;&nbsp;&nbsp;&nbsp;iii. 1,571,429 common shares upon the Company reaching annual revenues of at least $15 million by December 31, 2028, as reflected in its audited financial statements.

 ****

&nbsp;&nbsp;&nbsp;&nbsp;***b.***  ***Fort Products Limited*** 

Fort, a private company incorporated under the laws of England and Wales, was established on November 25, 2005. Fort is engaged in the sale of pest control products primarily through Amazon.uk under its own trademarks: Roshield, Entopest, Rempro and Birdgo. Until the closing of the SPA, Fort was a wholly owned subsidiary of Jeffs' Brands, a public company traded on the NASDAQ Stock Market.

The acquisition of Fort by the Company, upon the closing of the SPA, was accounted for as a reverse recapitalization. Fort was determined to be the "accounting acquirer" in the reverse recapitalization based on an evaluation of the guidance in IFRS 3, primarily because the shareholders of Fort (which is Jeffs' Brands) received the majority voting interest in the Company, which confers the ability to elect or remove a majority of the governing body, and because Fort's former management dominates the senior management of the combined entity. As a result, the historical financial statements of the Company were replaced with the historical financial statements of Fort. Furthermore, the Company, the accounting acquiree, did not meet the definition of a business in IFRS 3 *Business Combinations*. Accordingly, the Transaction has been accounted for an equity-settled share-based payment transaction for the provision of a stock exchange listing and related services in accordance with IFRS 2 *Share-based Payment*.

The Company and its subsidiary, Fort, are collectively referred to as the "Group". Additionally, Jeffs' Brands became the parent company.

&nbsp;&nbsp;&nbsp;&nbsp;***c.***  ***Reverse Share Splits*** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) On October 1, 2025, the Company effected a one-for-seven (1-for-7) reverse share split of its issued and
outstanding common shares. As a result, every seven (7) shares of common shares issued and outstanding were combined into one common share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) On February 18, 2026, the Company effected a one-for-two (1-for-2) reverse share split of its issued and
outstanding common shares. As a result, every two (2) shares of common shares issued and outstanding were combined into one common share.

All outstanding securities entitling their holders to purchase or receive common shares were adjusted pursuant to their terms as a result of the reverse splits. The reverse splits did not affect the number of common shares authorized for issuance. All share amounts, per share data and exercise prices have been adjusted retroactively within these financial statements to reflect the Reverse Split.

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)**

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

**NOTE 2 - MATERIAL ACCOUNTING POLICY INFORMATION**

&nbsp;&nbsp;&nbsp;&nbsp;***a.***  ***Basis of preparation of the financial statements:*** 

The statements of financial position as of December 31, 2024, December 31, 2023 and January 1, 2023, and the related statements of profit and loss, changes in shareholders' equity and cash flows for each of the two years ended December 31, 2024 have been prepared in accordance with International Financial Reporting Standards (the "IFRS") as issued by the International Accounting Standards Board (the "IASB").

Prior to 2023, the Company prepared its financial statements in accordance with generally accepted accounting practice in the United Kingdon (the "U.K. GAAP") as permitted in the United Kingdom.

The financial statements for the year ended December 31, 2023 are the Company's first financial statements prepared in accordance with IFRS. Accordingly, the Company has prepared financial statements that comply with IFRS applicable as of December 31, 2023. In preparing the financial statements, the Company's opening statement of financial position was prepared as of January 1, 2023, the Company's date of transition to IFRS. There was no adjustment made by the Company in representing its U.K. GAAP financial statements, including the statement of financial position as of January 1, 2023, in order to comply with IFRS.

As a first-time adopter of IFRS, the Company applied IFRS 1 First-time Adoption of International Financial Reporting Standards. The Company has not elected to adopt voluntary exemptions under IFRS 1 or has determined that they do not apply to the Company.

The material accounting policies described below have been applied consistently in relation to all the periods presented, unless otherwise stated.

The financial statements have been prepared under the historical cost basis.

The preparation of financial statements in accordance with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company's accounting policies.

The Company's operating period is 12 months.

The financial statements were authorized for issuance by the Board of Directors on October 16, 2025.

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)**

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

**NOTE 2 - MATERIAL ACCOUNTING POLICY INFORMATION** (continued)

&nbsp;&nbsp;&nbsp;&nbsp;***b.***  ***Functional and presentation currency:*** 

1) Functional and presentation currency

Items included in the financial statements are measured using the currency of the primary economic environment in which the entity operates (the "functional currency").

During the year ended December 31, 2023, the Company changed its functional currency from British pound sterling ("GBP") to U.S. dollar. This change was made because the majority of the Company's purchases and financing are now denominated in U.S. dollar, which better reflects the primary economic environment in which the Company operates.

The change in functional currency took effect on March 9, 2023, following the acquisition of Fort by Jeffs' Brands. As a result, the financial statements have been translated from GBP to U.S. The statement of financial position as of January 1, 2023 has been translated from GBP to U.S. dollar using the exchange rate as of the January 1, 2023. Income and expenses for the period from January 1, 2023 to March 9, 2023, were translated using average exchange rates for the period, with resulting differences being recorded as foreign currency translation adjustments in other comprehensive income or expense. Since there was substantially no fluctuation in USD / GBP exchange rates from December 31, 2022, to March 9, 2023, foreign currency translation adjustment during that period were immaterial.

2) Transactions and balances

In preparing the financial statements, transactions in currencies other than the entity's functional currency (foreign currencies) are recognized at the rates of exchange prevailing on the dates of the transactions. At each reporting date, monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at that date. Non-monetary items carried at fair value that are denominated in foreign currencies are translated at the rates prevailing at the date when the fair value was determined. Nonmonetary items that are measured in terms of historical cost in a foreign currency are not retranslated.

&nbsp;&nbsp;&nbsp;&nbsp;***c.***  ***Cash and cash equivalents*** 

Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three months or less at acquisition.

&nbsp;&nbsp;&nbsp;&nbsp;***d.***  ***Inventory*** 

Inventories are stated at the lower of cost or net realizable value. Inventories are adjusted for estimated excess inventories and obsolescence and written down to net realizable value based upon estimates of future demand, technology developments, and market conditions. Cost is determined in accordance with first-in, first-out method. The cost of inventory includes all costs of purchase, and other costs incurred in bringing the inventories to their present location and condition including shipment and freight costs.

&nbsp;&nbsp;&nbsp;&nbsp;***e.***  ***Property and equipment*** 

Property and equipment are stated at historical cost less accumulated depreciation and impairment. Historical cost includes expenditures that are directly attributable to the acquisition of the items. Repairs and maintenance are charged to the statements of profit or loss during the period in which they are incurred.

Property and equipment are depreciated using the straight-line method to allocate their cost over their estimated useful lives, as follows:

---

| | |
|:---|:---|
|  | **%** |
| Plant, Machinery & Office Furniture | 20 |
| Computers Equipment | 33 |

---

An item of property and equipment is derecognized upon disposal or when no future economic benefits are expected to arise from its continued use. The gain or loss arising on the disposal of an item of property and equipment is determined as the difference between the sales proceeds and the carrying amount of an item of property and equipment and is recognized in profit or loss.

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)**

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

**NOTE 2 - MATERIAL ACCOUNTING POLICY INFORMATION** (continued)

&nbsp;&nbsp;&nbsp;&nbsp;***f.***  ***Financial instruments*** 

Financial assets and financial liabilities are recognized in the statements of financial position when the Company becomes a party to the contractual provisions of the instrument.

Financial assets and financial liabilities are initially measured at fair value, except for trade receivables that do not have a significant financing component which are measured at transaction price. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in profit or loss.

<u>Financial assets</u>

All recognized financial assets are measured subsequently in their entirety at either amortized cost or fair value, depending on the classification of the financial assets.

<u>Classification of financial assets</u>

The Company classifies its financial assets in the following measurement categories:

Those to be measured subsequently at fair value through profit or loss, and those to be measured at amortized cost. The classification depends on the entity's business model for managing the financial assets and the contractual terms of the cash flows. For assets measured at fair value, gains and losses will be recorded in profit or loss.

The Company's financial assets at amortized cost are cash and cash equivalents, trade and other receivables and related parties receivables.

<u>Recognition</u>

Regular way purchases and sales of financial assets are recognized on the trade date, being the date on which the Company commits to purchase or sell the asset. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Company has transferred substantially all the risks and rewards of ownership.

<u>Measurement</u>

At initial recognition, the Company measures a financial asset at its fair value.

<u>Classification as debt or equity</u>

Debt and equity instruments are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument.

<u>Equity instruments</u>

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued by the Company are recognized at the proceeds received, net of direct issue costs.

<u>Financial liabilities</u>

Financial liabilities are subsequently measured at amortized cost using the effective interest method. The effective interest method is a method of calculating the amortized cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash flows (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or (where appropriate) a shorter period, to the amortized cost of a financial liability.

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)**

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

**NOTE 2 - MATERIAL ACCOUNTING POLICY INFORMATION** (continued)

The Company's financial liabilities at amortized cost are trade and other payables, related parties payable and lease liability.

<u>Derecognition of financial liabilities</u>

The Company derecognizes financial liabilities when, and only when, the Company's obligations are discharged, cancelled or have expired. The difference between the carrying amount of the financial liability derecognized and the consideration paid and payable is recognized in profit or loss.

&nbsp;&nbsp;&nbsp;&nbsp;***g.***  ***Provisions*** 

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

&nbsp;&nbsp;&nbsp;&nbsp;***h.***  ***Leases*** 

The Company assesses whether a contract is or contains a lease, at inception of the contract. The Company recognizes a right-of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets (such as tablets and personal computers, small items of office furniture and telephones). For short-term and low value leases, the Company recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed.

The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease, which if not readily determinable, the Company uses its incremental borrowing rate.

The incremental borrowing rate depends on the term, currency and start date of the lease and is determined based on a series of inputs including: the risk-free rate based on government bond rates; a country-specific risk adjustment; a credit risk adjustment based on bond yields; and an entity-specific adjustment when the risk profile of the entity that enters into the lease is different to that of the Company and the lease does not benefit from a guarantee from the Company.

Lease payments included in the measurement of the lease liability comprise of fixed lease payments (including in-substance fixed payments).

The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made.

The right-of-use assets comprise the initial measurement of the corresponding lease liability, lease payments made at or before the lease commencement date, less any lease incentives received and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment losses.

Right-of-use assets are depreciated over the shorter period of lease term and useful life of the right-of-use asset.

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)**

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

**NOTE 2 - MATERIAL ACCOUNTING POLICY INFORMATION** (continued)

&nbsp;&nbsp;&nbsp;&nbsp;***i.***  ***Taxation*** 

The income tax expense represents the sum of the tax currently payable and deferred tax.

<u>Current Tax</u>

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit (loss) before taxes as reported in the statements of profit or loss because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

<u>Deferred Tax</u>

Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit and is accounted for using the liability method. Deferred tax liabilities are generally recognized for all taxable temporary differences and are recognized to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilized. Such liabilities are not recognized if the temporary difference arises from the initial recognition (other than in a business combination) of other assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit.

 ****

&nbsp;&nbsp;&nbsp;&nbsp;***j.***  ***Revenue recognition*** 

The Company sells pest control products, mainly through Amazon.uk.

Revenue is recognized when control of the goods has transferred, being at the point that the goods are delivered. Payment of the transaction price is due immediately at the point the customer purchases the goods.

The transaction price is the amount of the consideration that is expected to be received based on the contract terms, excluding amounts collected on behalf of third parties (such as taxes).

In determining the amount of revenue from contracts with customers, the Company assesses whether it acts as a principal in the arrangement. The Company is considered a principal when it controls the promised goods before transferring them to the customer. The Company recognizes revenue on a gross basis, reflecting the total consideration received.

Under the Company's standard contract terms, customers have a right to return within 45 days. For contracts with rights of return, the Company recognizes revenue based on the amount of the consideration which the Company expects to receive for goods which are not expected to be returned and recognizes a refund liability for the amount not expected to be received. At the end of each reporting period, the Company updates its estimates of expected goods returns and adjusts the refund liabilities with a corresponding adjustment in revenues.

&nbsp;&nbsp;&nbsp;&nbsp;***k.***  ***Cost of revenues*** 

In accordance with the Company's contract with Amazon, as well as other platforms through which the Company sells its goods, the Company is obligated to pay incremental costs, such as sales fulfillment commissions, which are contingent on making binding sales. These sales fulfillment commissions would not have been incurred if the contract had not been obtained.

Additionally, cost of revenues includes the total cost of the goods, as well as expenses related to freight, storage, and salaries, which constitute direct costs associated with the goods sold.

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)**

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

**NOTE 2 - MATERIAL ACCOUNTING POLICY INFORMATION** (continued)

&nbsp;&nbsp;&nbsp;&nbsp;***l.***  ***Profit (loss) per share*** 

Basic loss per share is computed using the weighted average number of common shares outstanding during the period. The treasury stock method is used for the calculation of diluted loss per share, whereby all "in the money" stock options and share purchase warrants are assumed to have been exercised at the beginning of the period and the proceeds from their exercise are assumed to have been used to purchase common shares at the average market price during the period. When a loss is incurred during the period, basic and diluted loss per share is the same as the exercise of stock options and share purchase warrants is considered to be anti-dilutive. For the years ending December 31, 2024 and 2023 the Company did not have outstanding stock options and share purchase warrants.

&nbsp;&nbsp;&nbsp;&nbsp;***m.***  ***New and amended IFRS Accounting Standards that are effective for the current year*** 

In the current year, the Company has applied an amendment to IFRS Accounting Standards issued by the IASB that are mandatorily effective for an accounting period that begins on or after January 1, 2024. Their adoption has not had any material impact on the disclosures or on the amounts reported in these consolidated financial statements.

 ****

***Amendments to IAS 1 Presentation of Financial Statements—Classification of Liabilities as Current or Non-current***

 

The IASB issued a narrow-scope amendment to IAS 1, in January 2020, to clarify that liabilities are classified as either current or non-current, depending on the rights that exist at the end of the reporting period. The amendment could affect the classification of liabilities, particularly for entities that previously considered management's intentions to determine classification and for some liabilities that can be converted into equity. Inter alia, the amendment requires the following:

Liabilities are classified as non-current if the entity has a substantive right to defer settlement for at least 12 months at the end of the reporting period. The amendment no longer refers to unconditional rights. The assessment determines whether a right exists, but it does not consider whether the entity will exercise the right.

'Settlement' is defined as the extinguishment of a liability with cash, other economic resources or an entity's own equity instruments. There is an exception for convertible instruments that might be converted into equity, but only for those instruments where the conversion option is classified as an equity instrument as a separate component of a compound financial instrument.

The amendments are applied retrospectively for annual periods beginning on or after January 1, 2024, with early application permitted. The amendments had no material impact on the consolidated financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;***n.***  ***New and revised IFRS Accounting Standards in issue but not yet effective*** 

 ****

At the date of authorization for issuance of these financial statements, the Company has not applied the following new and revised IFRS Accounting Standards that have been issued but are not yet effective.

The Company does not expect that the adoption of the new and revised IFRS Accounting Standards will have a material impact on the financial statements of the Company in future periods, except if indicated below.

***IFRS 18 Presentation and Disclosures in Financial Statements***

 ****

IFRS 18 replaces IAS 1, carrying forward many of the requirements in IAS 1 unchanged and complementing them with new requirements.

IFRS 18 introduces new requirements to:

● present specified categories and defined subtotals in the statement of profit or loss

● provide disclosures on management-defined performance measures (MPMs) in the notes to the financial statements

● improve aggregation and disaggregation.

An entity is required to apply IFRS 18 for annual reporting periods beginning on or after 1 January 2027, with earlier application permitted. IFRS 18 requires retrospective application with specific transition provisions.

The Company is assessing the impact of these amendments on the financial statements in future periods.

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)**

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

**NOTE 3 - INVENTORY**

---

| | | | |
|:---|:---|:---|:---|
|  | **December 31,** | **December 31,** | |
|  | **2024** | **2023** | **January 1**<br>**2023** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| Purchased inventory in transit | 389 |  |  |
| Finished goods | 2730 | 924 | 377 |
|  | 3119 | 924 | 377 |

---

**NOTE 4 - LEASES** 

**Right-of-use assets**

---

| | |
|:---|:---|
|  | **Buildings** |
| **Cost** | |
| At 1 January 2023 |  |
| Additions | 57 |
| At 31 December 2023 | 57 |
| Additions | 273 |
| **At 31 December 2024** | 330 |
| **Accumulated depreciation** |  |
| At 1 January 2023 |  |
| Charge for the year | 32 |
| Exchange rate translation | (2) |
| At 31 December 2023 | 30 |
| Charge for the year | 52 |
| exchange rate differences | (2) |
| **At 31 December 2024** | 80 |
| **Carrying amount** |  |
| At 31 December 2024 | 250 |
| **At 31 December 2023** | 27 |

---

The Company leases two warehouse facilities in the UK. The first lease agreement expired on February 23, 2025, but Fort continues to occupy the premises by mutual agreement with the lessors, until a new negotiated agreement is signed. The annual rent as of December 31, 2024 was £30 thousand (approximately $32), paid quarterly. The second warehouse which Fort leases under a lease agreement effective as July 1, 2024 is for a fixed five-year term with no early termination option. The annual rent as of December 31, 2024 was £52 thousand (approximately $65 thousand), paid monthly. There is no option for further extension. In addition, beginning in July 2024 Fort leases warehouse in Italy, under a short-term lease agreement that is renewed on a monthly basis. The Company has elected not to recognize a right-of-use asset or a lease liability in accordance with the practical expedient available under IFRS 16 for short-term leases. Lease payments are recognized as an expense on a straight-line basis over the lease term. Lease expenses related to the warehouse for the year ended December 31, 2024 amounted to $2.

**Amounts recognized in profit and loss**

---

| | | |
|:---|:---|:---|
|  | **Year ended December 31,** | **Year ended December 31,** |
|  | **2024** | **2023** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| Depreciation expense on right-of-use assets | 52 | 32 |
| Interest expense on lease liabilities | 13 | 1 |
| Exchange rate (income) expenses | (1) | 2 |

---

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)**

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

**NOTE 4 - LEASES** (continued)

**Lease liabilities**

---

| | | |
|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** |
|  | **2024** | **2023** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| Maturity analysis: |  |  |
| Year 1 | 65 | 38 |
| Year 2 | 65 |  |
| Year 3 | 65 |  |
| Year 4 | 65 |  |
| Year 5 | 33 |  |
| Onwards | - | - |
| Total undiscounted cash flows | 293 | 38 |
| Imputed interest | (46) | (2) |
| Lease Liability | 247 | 36 |
| Analyzed as: |  |  |
| Non-current | 199 |  |
| Current | 48 | 36 |
|  | 247 | 36 |

---

**NOTE 5 - OTHER PAYABLES** 

---

| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2024** | **2023** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| Government institutions | 181 | 400 |
| Employees and related benefits | 13 | 2 |
| Accrued interest | 7 |  |
| Accrued expenses and other payables | 52 | 5 |
|  | 253 | 407 |

---

**NOTE 6 - TAXES ON INCOME:**

&nbsp;&nbsp;&nbsp;&nbsp;**a.** **Tax rates** 

The Company is taxed according to Canadian corporate tax law and is subject to a tax rate of 27%.

Fort is taxed according to UK tax laws. The UK corporate income tax rate was 19% until March 31, 2023 and 25% thereafter.

&nbsp;&nbsp;&nbsp;&nbsp;**b.** **Taxes on income included in the statements of profit or loss:** 

---

| | | |
|:---|:---|:---|
|  | **Year ended December 31,** | **Year ended December 31,** |
|  | **2024** | **2023** |
|  | **U.S. dollars<br> in thousands** | **U.S. dollars<br> in thousands** |
| Current taxes | 104 | 82 |
| Deferred taxes | 33 | (4) |
|  | 137 | 78 |

---

Deferred tax income and expense result from statutory depreciation rates that are different than deprecation rates for accounting purposes.

As of December 31, 2024, there were no temporary differences for which deferred tax liabilities were not recorded.

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)**

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

**NOTE 6 - TAXES ON INCOME:** (continued)

&nbsp;&nbsp;&nbsp;&nbsp;**c.** **Theoretical tax:** 

Reconciliation between tax expenses and the product of profit (loss) before taxes multiplied by the Company's statutory income tax rate is as follows:

---

| | | |
|:---|:---|:---|
|  | **Year ended December 31,** | **Year ended December 31,** |
|  | **2024** | **2023** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| Profit (loss) before taxes | 497 | (14) |
| Statutory income tax rate | 27% | 27% |
| Tax expense (tax benefit) computed at the statutory income tax rate | 134 | (4) |
| Increase (decrease) in tax expenses resulting from the following: |  |  |
| Previous years taxes | 18 |  |
| Non deductible expenses |  | 62 |
| Non-Canada tax rate differential | (10) | (1) |
| Others | (5) | 21 |
| Tax expenses | 137 | 78 |

---

**NOTE 7 - SHARE CAPITAL:**

&nbsp;&nbsp;&nbsp;&nbsp;**a.** The share capital composed of common shares as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Number of common shares** | **Number of common shares** | **Number of common shares** | **Number of common shares** |
|  | **December 31** | **December 31** | **December 31** | **December 31** |
|  | **2024** | **2024** | **2023** | **2023** |
| Issued (\*) | | 7,142,857 | | 7,142,857 |

---

(\*) Retrospectively adjusted to reflect the exchange ratio in the SPA consummated on July 7, 2025, see Note 1(a), and the reverse share splits effected on October 1, 2025 and February 18, 2026, see Note 1(c).

The Company has unlimited number of authorized common shares without par value.

The common shares confer upon their holders the following rights: (i) the right to vote in any general meeting of the Company, (ii) the right to receive dividends, if and when declared by the Board of Directors and (iii) the right to receive upon liquidation of the Company a sum equal to the nominal value of the share, and if a surplus remains, to receive such surplus, subject to the rights conferred on any class of shares which may be issued in the future.

&nbsp;&nbsp;&nbsp;&nbsp;**b.** During 2023, the Company declared dividends in the cumulative amount of GBP 186 thousand ($223 thousand). These dividends were paid in full during 2023.

&nbsp;&nbsp;&nbsp;&nbsp;**c.** Contingent Right Shares - pursuant to the SPA, the Company is committed to issue additional common shares to Jeffs' Brands up to 4,714,287 shares upon the achievement of certain milestones as elaborated in note 1(a).

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)**

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

**NOTE 7 - SHARE CAPITAL:** (continued)

&nbsp;&nbsp;&nbsp;&nbsp;**d.** Share option - The Company has a share option plan (the "Previous Plan") pursuant to which the Company's Board of Directors may grant incentive share options to the Company's officers, directors, employees and consultants. Under the Previous Plan, the Company may grant options to purchase up to 10% of the issued and outstanding common shares of the Company. Share options granted may not exceed a term of 10 years, and the term will be reduced to 1 year following the death of the optionee. All share options vest when granted unless otherwise specified by the Board of Directors.

As of December 31, 2024, a total of 41,429 share options were outstanding and fully exercisable at an exercise price of CAD 1.40 per option (approximately $0.98 per option). These share options are scheduled to expire in March 2027.

Subsequent to the balance sheet date, the Company adopted a new equity incentive plan (the "New Plan") on July 21, 2025, which was approved by the Company's shareholders on August 21, 2025 and replaces Previous Plan. Under the New Plan, the Company may grant share options, restricted share units ("RSUs") and performance-based awards to officers, directors, employees, and consultants.

The New Plan is a fixed plan allowing the issuance of up to 1,904,479 common shares, representing 20% of the Company's issued and outstanding shares as of the implementation date.

If the New Plan had not been approved by the Company's shareholders, the Previous Plan would have remained in effect. Awards outstanding under the Previous Plan on the date that the New Plan was approved by the Company's shareholders were transferred to the New Plan.

&nbsp;&nbsp;&nbsp;&nbsp;e. As of December 31, 2024, a total of 21,428 warrants were outstanding and fully exercisable at an exercise price of CAD 1.40 per option (approximately $0.98 per warrant).

**NOTE 8 - ADDITIONAL INFORMATION REGARDING PROFIT OR LOSS:** 

&nbsp;&nbsp;&nbsp;&nbsp;**a.** **Revenues:** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
|  | **2024** | **2024** | **2023** | **2023** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| Revenues from products sales, net |  | 9875 |  | 6607 |

---

&nbsp;&nbsp;&nbsp;&nbsp;**b.** **Cost of Revenues:** 

---

| | | |
|:---|:---|:---|
|  | **Year ended December 31,** | **Year ended December 31,** |
|  | **2024** | **2023** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| Purchases and changes in inventory | 3165 | 2923 |
| Sales fulfillment commissions | 4455 | 2630 |
| Freight | 296 | 81 |
| Salary | 210 | 119 |
| Packing supplies | 83 | 54 |
| Storage | 17 | - |
|  | 8226 | 5807 |

---

&nbsp;&nbsp;&nbsp;&nbsp;**c.** **Sales and marketing:** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
|  | **2024** | **2024** | **2023** | **2023** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| Advertising on Amazon and other platforms |  | 640 |  | 189 |
| Other | | 16 | | - |
|  | | 656 | | 189 |

---

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)**

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

**NOTE 8 - ADDITIONAL INFORMATION REGARDING PROFIT OR LOSS:** (continued)

&nbsp;&nbsp;&nbsp;&nbsp;**d.** **General and administrative:** 

---

| | | |
|:---|:---|:---|
|  | **Year ended December 31,** | **Year ended December 31,** |
|  | **2024** | **2023** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| Directors' fees | 25 | 148 |
| Professional services | 109 | 48 |
| Maintenance | 49 | 26 |
| Depreciation and amortization | 58 | 39 |
| IT software and consumables | 21 | 13 |
| Other | 64 | 18 |
|  | 326 | 292 |

---

&nbsp;&nbsp;&nbsp;&nbsp;**e.** **Other expenses:** 

---

| | | |
|:---|:---|:---|
|  | **Year ended December 31,** | **Year ended December 31,** |
|  | **2024** | **2023** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| Bad debts (1) |  | 337 |
| Management fees to Parent Company | 139 | 37 |
|  | 139 | 374 |

---

(1) On May 20, 2021, Fort signed a loan agreement with its wholly owned subsidiary, CDSB Limited ("CDSB"). The loan amount was USD 337 thousand (280 thousand GBP). The loan carried an annual interest at the rate of 0.5% above the base rate of Bank of England as adjusted from time to time.

On July 18, 2022, Fort sold all its shares in CDSB to the former owners of Fort.

In March 2023, subsequent to the transaction with Jeffs' Brands, Fort wrote off the loan amount as bad debts.

&nbsp;&nbsp;&nbsp;&nbsp;**f.** **Finance expenses, net:** 

---

| | | |
|:---|:---|:---|
|  | **Year ended December 31,** | **Year ended December 31,** |
|  | **2024** | **2023** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| Finance income: |  |  |
| Interest income |  | 2 |
| Exchange rate differences | - | 39 |
| Total finance income | - | 41 |
| Finance expense: |  |  |
| Exchange rate differences | 11 |  |
| Bank fees | 3 |  |
| Interest expenses | 17 | - |
| Total finance expenses | 31 | - |
| Finance expense (income), net | 31 | (41) |

---

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)**

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

**NOTE 9 - FINANCIAL INSTRUMENTS**

**A.**

---

| | | |
|:---|:---|:---|
|  | **Amortized Cost** | **Amortized Cost** |
|  | **2024** | **2023** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| Cash and cash equivalents | 546 | 210 |
| Trade receivables | 116 | 208 |
| Other receivables | 51 | 323 |
| Related parties receivables | - | 284 |
|  | 713 | 741 |
| Trade payables | 505 | 499 |
| Other payables | 253 | 407 |
| Related parties payable | 1775 |  |
| Lease liability (current and non-current) | 247 | 36 |
|  | 2533 | 906 |

---

&nbsp;&nbsp;&nbsp;&nbsp;**B.** **Liquidity risk management** 

Ultimate responsibility for liquidity risk management rests with the Board of Directors, which has established an appropriate liquidity risk management framework for management of the Company's short, medium and long-term funding and liquidity management requirements. The Group manages liquidity risk by maintaining adequate reserves, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

**Liquidity and interest risk tables**

The following tables detail the Group's remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Group can be required to pay. The table includes both interest and principal cash flows. To the extent that interest cash flows are floating rate, the undiscounted amount is derived from interest rate curves at the reporting date.

The contractual maturity is based on the earliest date on which the Group may be required to pay.

---

| | | |
|:---|:---|:---|
|  | **0-1 year** | **2-5 year** |
|  | **U.S. dollars<br> in thousands** | **U.S. dollars <br> in thousands** |
| **31 December 2024** | | |
| Cash and cash equivalents | 546 |  |
| Trade receivables | 116 |  |
| Other receivables | 51 | - |
|  | 713 | - |
| Trade payables | 505 |  |
| Lease liability | 65 | 228 |
| Other payables | 253 |  |
| Related parties payable | 1775 | - |
|  | 2581 | 199 |

---

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)**

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

**NOTE 9 - FINANCIAL INSTRUMENTS:** (continued)

---

| | |
|:---|:---|
|  | **0-1 year** |
|  | **U.S. dollars<br> in thousands** |
| **31 December 2023** | |
| Cash and cash equivalents | 210 |
| Trade receivables | 208 |
| Other receivables | 323 |
| Related parties receivables | 284 |
|  | 1025 |
| Trade payables | 499 |
| Lease liability | 36 |
| Other payables | 407 |
|  | 942 |

---

&nbsp;&nbsp;&nbsp;&nbsp;**C.** **Foreign currency risk management** 

The Group undertakes transactions denominated in foreign currencies; consequently, exposures to exchange rate fluctuations arise. Exchange rate exposures are managed within approved policy parameters.

The carrying amounts of the Group's foreign currency denominated monetary assets at the reporting date are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Assets** | **Assets** | **Assets** | **Assets** |
|  | **December 31, <br> 2024** | **December 31, <br> 2024** | **December 31, <br> 2023** | **December 31, <br> 2023** |
| Euro |  | 14 |  | 43 |
| GBP |  | 530 |  | 167 |

---

**Foreign currency sensitivity analysis**

The Group is mainly exposed to the currency Euro and the currency of GBP.

The following table details the Company's sensitivity to a 10 per cent increase and decrease in currency units against the relevant foreign currencies. 10 per cent is the sensitivity rate used when reporting foreign currency risk internally to key management personnel and represents management's assessment of the reasonably possible change in foreign exchange rates. The sensitivity analysis includes only outstanding foreign currency denominated monetary items and adjusts their translation at the year-end for a 10 per cent change in foreign currency rates.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Euro** | **Euro** | **GBP** | **GBP** |
|  | **December 31, <br> 2024** | **December 31, <br> 2023** | **December 31, <br> 2024** | **December 31, <br> 2023** |
| Profit or loss | 1.4 | 5.3 | 45.3 | 16.7 |
| Equity | (1.4) | (5.3) | (45.3) | (16.7) |

---

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)**

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

**NOTE 10 - RELATED PARTIES**

&nbsp;&nbsp;&nbsp;&nbsp;**a.** **Transactions and balances with related parties** 

---

| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2024** | **2023** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| **General and administrative expenses:** |  |  |
| Directors' fees (a1) | 25 | 148 |
| **Other expenses:** |  |  |
| Management fees (a2) | 139 | 37 |
| **Balances with related parties and officers:** |  |  |
| Related parties receivables (a2) | - | 284 |
| Related parties payable – current liability (a2) | 1775 | - |
| Accounts payable (a1),(a2) | 198 | 6 |

---

(a1) In February 2023, Fort paid to its former shareholders (see Note 1) directors fees in the amount of $126 thousand for their services until the acquisition by Jeffs' Brands.

On March 2, 2023 and after the acquisition of Fort by Jeffs' Brands, Mr. Aditya Chathli was appointed as a director of Fort. The monthly director fee of £2,000 (approximately $2,500) commenced on March 9, 2023. The monthly fee was reduced to £1,600 (approximately $2,000) commencing on October 1, 2023.

(a2) On March 30, 2023, Fort entered into a service agreement with Jeffs' Brands (the "Jeffs' Brands Service Agreement") pursuant to which Jeffs' Brands agreed to provide certain services to Fort, including inventory, logistics and operations management for sale of pest control products on Amazon and corporate management services. The Jeffs' Brands Service Agreement was initially for a period of 12 months starting in March 2023 and renewed for additional successive 12 months period. The Jeffs' Brands Service Agreement can be terminated by either party with 60 days advance notice. Fees are determined by a transfer pricing study complaint with applicable laws. In addition, during 2024, Jeffs' Brands paid certain other expenditures on behalf of Fort, related mostly to purchase of inventory.

**NOTE 11 - SEGMENTS**

The Company has one operating segment, sale of pest control products.

Revenues are attributed to geographic areas:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
|  | **2024** | **2024** | **2023** | **2023** |
|  | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** | **U.S. dollars in thousands** |
| UK |  | 9252 |  | 6607 |
| Europe | | 623 | | - |
|  | | 9,875 | | 6,607 |

---

**FORT TECHNOLOGY INC. (FORMERLY IMPACT ACQUISITIONS CORP.)**

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

**NOTE 12 - SUBSEQUENT EVENTS** 

&nbsp;&nbsp;&nbsp;&nbsp;a. On January 2, 2025, Jeff's Brands and the Company signed the SPA, which closed on July 7, 2025. See Note 1 (a).

&nbsp;&nbsp;&nbsp;&nbsp;b. On August 21, 2025, the Company adopted new equity incentive plan. See note 7(d).

&nbsp;&nbsp;&nbsp;&nbsp;c. On October 1, 2025, the Company effected a 1 to 7 Reverse Share Split. See Note 1(c).

&nbsp;&nbsp;&nbsp;&nbsp;d. On August 8, 2025, the Company granted a loan to EEH Ventures Limited ("EEH"). According to the loan agreement, the Company will grant an initial loan in the amount of GBP 2 million (approximately $2.6 million) and an additional loan of GBP 1 million (approximately $1.3 million) to be advanced 12 months later. The loans bear annual interest of 7.5% and are repayable within three years. The Company may convert the loans and accrued interest into up to 25% of EEH's fully diluted share capital.

&nbsp;&nbsp;&nbsp;&nbsp;e. On August 21, 2025, the Company completed a private placement of convertible debentures (the "August 2025 Private Placement") for total gross proceeds of approximately $3.6 million. The debentures bear yearly interest of 10%, mature on August 21, 2027, and are convertible at the holder's option into units at a price of $1.86 per unit, each unit consisting of one common share and one warrant exercisable at $1.86 per share until August 21, 2030.

In connection with the August 2025 Private Placement, Jeffs' Brands participated in the offering and acquired convertible debentures in the amount of approximately $1.6 million. A director of the Company also participated in the offering and acquired convertible debentures in the amount of approximately $94 thousand.

&nbsp;&nbsp;&nbsp;&nbsp;f. In connection with the SPA (see Note 1(a)), on September 11, 2025, Fort and Jeffs' Brands Holdings (a wholly owned subsidiary or Jeffs' Brands) entered into a membership interests transfer agreement, pursuant to which Jeffs' Brands Holdings assigned to Fort all of the membership interest in Fort Products LLC, such that Fort Products LLC became a wholly owned subsidiary of Fort.

Fort Products LLC was incorporated in 2023, and did not have operations since incorporation and through the issuance date of these financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;g. On September 15, 2025, the Company granted 139,287 RSUs to officers and members of the Board of Directors and 128,570 RSUs to advisors of the Company. Half of the RSUs granted will vest after one year and the other half will vest in four tranches over the second year from the date of grant.

&nbsp;&nbsp;&nbsp;&nbsp;h. On February 18, 2026, the Company effected a 1 to 2 reverse share split. See Note 1(c).

_____________________________

__________________________________________

_____________________________

## Exhibit 1.1

**Exhibit 1.1**

**Incorporation No. BC1232620**

BUSINESS CORPORATIONS ACT

**ARTICLES**

OF

**FORT TECHNOLOGY INC.**

**(formerly, Impact Acquisitions Corp.)**

---

| | | |
|:---|:---|:---|
| Part 1 INTERPRETATION | Part 1 INTERPRETATION | 1 |
| 1.1 | Definitions | 1 |
| 1.2 | Business Corporations Act and Interpretation Act Definitions Applicable | 1 |
| 1.3 | Conflicts Between Articles and the Business Corporations Act | 1 |
| Part 2 SHARES AND SHARE CERTIFICATES | Part 2 SHARES AND SHARE CERTIFICATES | 1 |
| 2.1 | Authorized Share Structure | 1 |
| 2.2 | Form of Share Certificate | 1 |
| 2.3 | Shareholder Entitled to Share Certificate or Acknowledgement | 2 |
| 2.4 | Delivery by Mail | 2 |
| 2.5 | Replacement of Worn Out or Defaced Share Certificate or Acknowledgement | 2 |
| 2.6 | Replacement of Lost, Stolen or Destroyed Share Certificate or Acknowledgement | 2 |
| 2.7 | Splitting Share Certificates | 2 |
| 2.8 | Shares May be Uncertificated | 2 |
| 2.9 | Direct Registration System | 2 |
| 2.10 | Share Certificate Fee | 3 |
| 2.11 | Recognition of Trusts | 3 |
| Part 3 ISSUE OF SHARES | Part 3 ISSUE OF SHARES | 3 |
| 3.1 | Directors Authorized | 3 |
| 3.2 | Commissions and Discounts | 3 |
| 3.3 | Brokerage | 3 |
| 3.4 | Conditions of Issue | 3 |
| 3.5 | Share Purchase Warrants and Rights | 3 |
| Part 4 Securities REGISTERS | Part 4 Securities REGISTERS | 4 |
| 4.1 | Central Securities Register | 4 |
| 4.2 | Closing Register | 4 |
| Part 5 SHARE TRANSFERS | Part 5 SHARE TRANSFERS | 4 |
| 5.1 | Registering Transfers | 4 |
| 5.2 | Transferor Remains Shareholder | 4 |

---

- i -

---

| | | |
|:---|:---|:---|
| 5.3 | Signing of Instrument of Transfer | 4 |
| 5.4 | Enquiry as to Title Not Required | 4 |
| 5.5 | Transfer Fee | 5 |
| Part 6 TRANSMISSION OF SHARES | Part 6 TRANSMISSION OF SHARES | 5 |
| 6.1 | Legal Personal Representative Recognized on Death | 5 |
| 6.2 | Rights of Legal Personal Representative | 5 |
| Part 7 PURCHASE or redemption OF SHARES | Part 7 PURCHASE or redemption OF SHARES | 5 |
| 7.1 | Company Authorized to Purchase or Redeem Shares | 5 |
| 7.2 | Purchase or Redemption When Insolvent | 5 |
| 7.3 | Sale and Voting of Purchased Shares | 5 |
| Part 8 BORROWING POWERS | Part 8 BORROWING POWERS | 5 |
| Part 9 ALTERATIONS | Part 9 ALTERATIONS | 6 |
| 9.1 | Alteration of Authorized Share Structure | 6 |
| 9.2 | Change of Name | 6 |
| 9.3 | Consolidation and Subdivision | 6 |
| 9.4 | Other Alterations | 6 |
| Part 10 MEETINGS OF SHAREHOLDERS | Part 10 MEETINGS OF SHAREHOLDERS | 7 |
| 10.1 | Annual General Meetings | 7 |
| 10.2 | Resolution Instead of Annual General Meeting | 7 |
| 10.3 | Calling of Meetings of Shareholders | 7 |
| 10.4 | Location of Shareholder Meetings | 7 |
| 10.5 | Notice for Meetings of Shareholders | 7 |
| 10.6 | Record Date for Notice | 7 |
| 10.7 | Record Date for Voting | 7 |
| 10.8 | Class Meetings and Series Meetings of Shareholders | 8 |
| 10.9 | Failure to Give Notice and Waiver of Notice | 8 |
| Part 11 PROCEEDINGS AT MEETINGS OF SHAREHOLDERS | Part 11 PROCEEDINGS AT MEETINGS OF SHAREHOLDERS | 8 |
| 11.1 | Special Business | 8 |
| 11.2 | Special Majority | 8 |
| 11.3 | Quorum | 8 |
| 11.4 | One Shareholder May Constitute Quorum | 9 |
| 11.5 | Meetings by Telephone or Other Communications Medium | 9 |
| 11.6 | Other Persons May Attend | 9 |
| 11.7 | Requirement of Quorum | 9 |
| 11.8 | Lack of Quorum | 9 |
| 11.9 | Lack of Quorum at Succeeding Meeting | 9 |
| 11.10 | Chair | 9 |
| 11.11 | Selection of Alternate Chair | 10 |

---

- ii-

---

| | | |
|:---|:---|:---|
| 11.12 | Adjournments | 10 |
| 11.13 | Notice of Adjourned Meeting | 10 |
| 11.14 | Decisions by Show of Hands or Poll | 10 |
| 11.15 | Declaration of Result | 10 |
| 11.16 | Motion Need Not be Seconded | 10 |
| 11.17 | Casting Vote | 10 |
| 11.18 | Manner of Taking Poll | 10 |
| 11.19 | Demand for Poll on Adjournment | 11 |
| 11.20 | Chair Must Resolve Dispute | 11 |
| 11.21 | Casting of Votes | 11 |
| 11.22 | Demand for Poll | 11 |
| 11.23 | Demand for Poll Not to Prevent Continuance of Meeting | 11 |
| 11.24 | Retention of Ballots and Proxies | 11 |
| Part 12 VOTES OF SHAREHOLDERS | Part 12 VOTES OF SHAREHOLDERS | 11 |
| 12.1 | Number of Votes by Shareholder or by Shares | 11 |
| 12.2 | Votes of Persons in Representative Capacity | 11 |
| 12.3 | Votes by Joint Holders | 12 |
| 12.4 | Legal Personal Representatives as Joint Shareholders | 12 |
| 12.5 | Representative of a Corporate Shareholder | 12 |
| 12.6 | Proxy Provisions Do Not Apply to All Companies | 12 |
| 12.7 | Appointment of Proxy Holders | 12 |
| 12.8 | Alternate Proxy Holders | 12 |
| 12.9 | Form of Proxy | 13 |
| 12.10 | Deposit of Proxy | 13 |
| 12.11 | Revocation of Proxy | 13 |
| 12.12 | Revocation of Proxy Must Be Signed | 13 |
| 12.13 | Production of Evidence of Authority to Vote | 14 |
| Part 13 DIRECTORS | Part 13 DIRECTORS | 14 |
| 13.1 | First Directors; Number of Directors | 14 |
| 13.2 | Change in Number of Directors | 14 |
| 13.3 | Directors' Acts Valid Despite Vacancy | 14 |
| 13.4 | Qualifications of Directors | 14 |
| 13.5 | Remuneration of Directors | 14 |
| 13.6 | Reimbursement of Expenses of Directors | 15 |
| 13.7 | Special Remuneration for Directors | 15 |
| 13.8 | Gratuity, Pension or Allowance on Retirement of Director | 15 |

---

- iii -

---

| | | |
|:---|:---|:---|
| Part 14 ELECTION AND REMOVAL OF DIRECTORS | Part 14 ELECTION AND REMOVAL OF DIRECTORS | 15 |
| 14.1 | Election at Annual General Meeting | 15 |
| 14.2 | Consent to be a Director | 15 |
| 14.3 | Failure to Elect or Appoint Directors | 15 |
| 14.4 | Places of Retiring Directors Not Filled | 16 |
| 14.5 | Directors May Fill Casual Vacancies, | 16 |
| 14.6 | Remaining Directors Power to Act | 16 |
| 14.7 | Shareholders May Fill Vacancies | 16 |
| 14.8 | Additional Directors | 16 |
| 14.9 | Ceasing to be a Director | 16 |
| 14.10 | Removal of Director by Shareholders | 17 |
| 14.11 | Removal of Director by Directors | 17 |
| Part 15 POWERS AND DUTIES OF DIRECTORS | Part 15 POWERS AND DUTIES OF DIRECTORS | 17 |
| 15.1 | Powers of Management | 17 |
| 15.2 | Appointment of Attorney of Company | 17 |
| Part 16 DISCLOSURE OF INTEREST OF DIRECTORS | Part 16 DISCLOSURE OF INTEREST OF DIRECTORS | 17 |
| 16.1 | Obligation to Account for Profits | 17 |
| 16.2 | Restrictions on Voting by Reason of Interest | 17 |
| 16.3 | Interested Director Counted in Quorum | 17 |
| 16.4 | Disclosure of Conflict of Interest or Property | 18 |
| 16.5 | Director Holding Other Office in the Company | 18 |
| 16.6 | No Disqualification | 18 |
| 16.7 | Professional Services by Director or Officer | 18 |
| 16.8 | Director or Officer in Other Corporations | 18 |
| Part 17 PROCEEDINGS OF DIRECTORS | Part 17 PROCEEDINGS OF DIRECTORS | 18 |
| 17.1 | Meetings of Directors | 18 |
| 17.2 | Voting at Meetings | 18 |
| 17.3 | Chair of Meetings | 18 |
| 17.4 | Meetings by Telephone or Other Communications Medium | 19 |
| 17.5 | Calling of Meetings | 19 |
| 17.6 | Notice of Meetings, | 19 |
| 17.7 | When Notice Not Required | 19 |
| 17.8 | Meeting Valid Despite Failure to Give Notice | 19 |
| 17.9 | Waiver of Notice of Meetings | 19 |
| 17.10 | Quorum | 19 |
| 17.11 | Validity of Acts Where Appointment Defective | 20 |
| 17.12 | Consent Resolutions in Writing | 20 |

---

- iv -

---

| | | |
|:---|:---|:---|
| Part 18 EXECUTIVE AND OTHER COMMITTEES | Part 18 EXECUTIVE AND OTHER COMMITTEES | 20 |
| 18.1 | Appointment and Powers of Executive Committee | 20 |
| 18.2 | Appointment and Powers of Other Committees | 20 |
| 18.3 | Obligations of Committees | 21 |
| 18.4 | Powers of Board | 21 |
| 18.5 | Committee Meetings | 21 |
| Part 19 OFFICERS | Part 19 OFFICERS | 21 |
| 19.1 | Directors May Appoint Officers | 21 |
| 19.2 | Functions, Duties and Powers of Officers | 21 |
| 19.3 | Qualifications | 22 |
| 19.4 | Remuneration and Terms of Appointment | 22 |
| Part 20 INDEMNIFICATION | Part 20 INDEMNIFICATION | 22 |
| 20.1 | Definitions | 22 |
| 20.2 | Mandatory Indemnification of Directors and Former Directors | 22 |
| 20.3 | Indemnification of Other Persons | 22 |
| 20.4 | Non-Compliance with Business Corporations Act | 22 |
| 20.5 | Company May Purchase Insurance | 22 |
| Part 21 DIVIDENDS | Part 21 DIVIDENDS | 23 |
| 21.1 | Payment of Dividends Subject to Special Rights | 23 |
| 21.2 | Declaration of Dividends | 23 |
| 21.3 | No Notice Required | 23 |
| 21.4 | Record Date | 23 |
| 21.5 | Manner of Paying Dividend | 23 |
| 21.6 | Settlement of Difficulties | 23 |
| 21.7 | When Dividend Payable | 23 |
| 21.8 | Dividends to be Paid in Accordance with Number of Shares | 24 |
| 21.9 | Receipt by Joint Shareholders | 24 |
| 21.10 | Dividend Bears No Interest | 24 |
| 21.11 | Fractional Dividends | 24 |
| 21.12 | Payment of Dividends | 24 |
| 21.13 | Capitalization of Surplus | 24 |
| Part 22 DOCUMENTS, RECORDS AND REPORTS | Part 22 DOCUMENTS, RECORDS AND REPORTS | 24 |
| 22.1 | Recording of Financial Affairs | 24 |
| 22.2 | Inspection of Accounting Records | 24 |
| Part 23 NOTICES | Part 23 NOTICES | 24 |
| 23.1 | Method of Giving Notice | 24 |
| 23.2 | Deemed Receipt of Mailing | 25 |
| 23.3 | Certificate of Sending | 25 |
| 23.4 | Notice to Joint Shareholders | 25 |
| 23.5 | Notice to Trustees | 25 |
| Part 24 SEAL | Part 24 SEAL | 26 |
| 24.1 | Who May Attest Seal | 26 |
| 24.2 | Sealing Copies | 26 |
| 24.3 | Mechanical Reproduction of Seal | 26 |
| Part 25 PROHIBITIONS | Part 25 PROHIBITIONS | 26 |
| 25.1 | Definitions | 26 |
| 25.2 | Application | 27 |
| 25.3 | Consent Required for Transfer of Shares or Designated Securities | 27 |

---

- v -

**FORT TECHNOLOGY INC.**

**(formerly, Impact Acquisitions Corp.)**

**(the "Company")**

PART 1 INTERPRETATION

1.1 Definitions

In these Articles, unless the context otherwise requires:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "board of directors", "directors" and "board" mean the directors or sole director of the Company, as the case may be;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "*Business Corporations Act*" means the *Business Corporations Act* (British Columbia) from time to time in force and all amendments thereto and includes all regulations and amendments thereto made pursuant to that Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "*Interpretation Act*" means the *Interpretation Act* (British Columbia) from time to time in force and all amendments thereto and includes all regulations and amendments thereto made pursuant to that Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "legal personal representative" means the personal or other legal representative of a shareholder, and includes a trustee in bankruptcy of the shareholder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "registered address" of a shareholder means that shareholder's address as recorded in the central securities register; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) "seal" means the seal of the Company, if any.

**1.2**  ***Business Corporations Act* and *Interpretation Act* Definitions Applicable** 

The definitions in the *Business Corporations Act* and the definitions and rules of construction in the *Interpretation Act*, with the necessary changes, so far as applicable, and unless the context requires otherwise, apply to these Articles as if these Articles were an enactment. If there is a conflict between a definition in the *Business Corporations Act* and a definition or rule in the *Interpretation Act* relating to a term used in these Articles, the definition in the *Business Corporations Act* will prevail in relation to the use of the term in these Articles.

**1.3** **Conflicts Between Articles and the *Business Corporations Act*** 

If there is a conflict or inconsistency between these Articles and the *Business Corporations Act*, the *Business Corporations Act* will prevail.

PART 2 SHARES AND SHARE CERTIFICATES

2.1 Authorized Share Structure

The authorized share structure of the Company consists of shares of the class or classes and series of shares, if any, as described in the Notice of Articles of the Company.

2.2 Form of Share Certificate

Each share certificate issued by the Company must comply with, and be signed as required by, the *Business Corporations Act*.

2.3 Shareholder Entitled to Share Certificate or Acknowledgement

Unless the shares are uncertificated shares, each shareholder is entitled, without charge, to (a) one share certificate representing the shares of each class or series of shares registered in the shareholder's name or (b) a non-transferable written acknowledgement of the shareholder's right to obtain such a share certificate, provided that in respect of a share held jointly by several persons, the Company is not bound to issue more than one share certificate or acknowledgement, and delivery of a share certificate or acknowledgement, for a share to one of several joint shareholders or to one of the shareholders' duly authorized agents will be sufficient delivery to all.

2.4 Delivery by Mail

Any share certificate or non-transferable written acknowledgement of a shareholder's right to obtain a share certificate may be sent to the shareholder by mail at the shareholder's registered address and neither the Company nor any director, officer or agent of the Company is liable for any loss to the shareholder because the share certificate or acknowledgement is lost in the mail or stolen.

2.5 Replacement of Worn Out or Defaced Share Certificate or Acknowledgement

If the directors are satisfied that a share certificate or a non-transferable written acknowledgement of a shareholder's right to obtain a share certificate is worn out or defaced, the directors must, on production to them of the share certificate or acknowledgement, as the case may be, and on such other terms, if any, the directors think fit:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) order the share certificate or acknowledgement, as the case may be, to be cancelled; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) issue a replacement share certificate or acknowledgement, as the case may be.

2.6 Replacement of Lost, Stolen or Destroyed Share Certificate or Acknowledgement

If a share certificate or a non-transferable written acknowledgement of a shareholder's right to obtain a share certificate is lost, stolen or destroyed, a replacement share certificate or acknowledgement, as the case may be, must be issued to the person entitled to that share certificate or acknowledgement, as the case may be, if the directors receive:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) proof satisfactory to the directors that the share certificate or acknowledgement is lost, stolen or destroyed; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any indemnity the directors consider adequate.

2.7 Splitting Share Certificates

If a shareholder surrenders a share certificate to the Company with a written request that the Company issue in the shareholder's name two or more share certificates, each representing a specified number of shares and in the aggregate representing the same number of shares as the share certificate so surrendered, the Company must cancel the surrendered share certificate and issue replacement share certificates in accordance with that request.

2.8 Shares May be Uncertificated

Notwithstanding any provisions of this Part, the directors may, by resolution, provide that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the shares of any or all of the classes and series of the Company's shares may be uncertificated shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any specified shares may be uncertificated shares.

2.9 Direct Registration System

Share certificates may be held in "book-entry" form under the direct registration system and such shares may be transferred electronically.

2.10 Share Certificate Fee

There must be paid to the Company, in relation to the issue of any share certificate under Articles 2.5, 2.6 or 2.7, the amount, if any and which must not exceed the amount prescribed under the *Business Corporations Act*, determined by the directors.

2.11 Recognition of Trusts

Except as required by law or statute or these Articles, no person will be recognized by the Company as holding any share upon any trust, and the Company is not bound by or compelled in any way to recognize (even when having notice thereof) any equitable, contingent, future or partial interest in any share or fraction of a share or (except as by law or statute or these Articles provided or as ordered by a court of competent jurisdiction) any other rights in respect of any share except an absolute right to the entirety thereof in the shareholder.

PART 3 ISSUE OF SHARES

3.1 Directors Authorized

Subject to the Business Corporations Act and rights of the holders of issued shares of the Company, the Company may issue, allot, sell or otherwise dispose of the unissued shares, and issued shares held by the Company, at the times, to the persons, including directors, in the manner, on the terms and conditions and for the issue prices (including any premium at which shares with par value may be issued) that the directors may determine. The issue price for a share with par value must be equal to or greater than the par value of the share.

3.2 Commissions and Discounts

The Company may at any time, pay a reasonable commission or allow a reasonable discount to any person in consideration of that person purchasing or agreeing to purchase shares of the Company from the Company or any other person or procuring or agreeing to procure purchasers for shares of the Company.

3.3 Brokerage

The Company may pay such brokerage fee or other consideration as may be lawful for or in connection with the sale or placement of its securities.

3.4 Conditions of Issue

Except as provided for by the *Business Corporations Act*, no share may be issued until it is fully paid. A share is fully paid when:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) consideration is provided to the Company for the issue of the share by one or more of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) past services performed for the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) money; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the value of the consideration received by the Company equals or exceeds the issue price set for the share under Article 3.1.

3.5 Share Purchase Warrants and Rights

PART 4 SECURITIES REGISTERS

4.1 Central Securities Register

As required by and subject to the *Business Corporations Act*, the Company must maintain at its records office or at any other location inside or outside British Columbia a central securities register. The directors may, subject to the *Business Corporations Act,* appoint an agent to maintain the central securities register. The directors may also appoint one or more agents, including the agent which keeps the central securities register, as transfer agent for its shares or any class or series of its shares, as the case may be, and the same or another agent as registrar for its shares or such class or series of its shares, as the case may be. The directors may terminate such appointment of any agent at any time and may appoint another agent in its place.

4.2 Closing Register

The Company must not at any time close its central securities register.

PART 5 SHARE TRANSFERS

5.1 Registering Transfers

A transfer of a share of the Company must not be registered unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a duly signed instrument of transfer in respect of the share has been received by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if a share certificate has been issued by the Company in respect of the share to be transferred, that share certificate has been surrendered to the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if a non-transferable written acknowledgement of the shareholder's right to obtain a share certificate has been issued by the Company in respect of the share to be transferred, that acknowledgement has been surrendered to the Company.

5.2 Transferor Remains Shareholder

Except to the extent that the *Business Corporations Act* otherwise provides, a transferor of shares is deemed to remain the holder of the shares until the name of the transferee is entered in a securities register of the Company in respect of the transfer.

5.3 Signing of Instrument of Transfer

If a shareholder, or his or her duly authorized attorney, signs an instrument of transfer in respect of shares registered in the name of the shareholder, the signed instrument of transfer constitutes a complete and sufficient authority to the Company and its directors, officers and agents to register the number of shares specified in the instrument of transfer or specified in any other manner, or, if no number is specified, all the shares represented by the share certificates or set out in the written acknowledgements deposited with the instrument of transfer:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in the name of the person named as transferee in that instrument of transfer; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if no person is named as transferee in that instrument of transfer, in the name of the person on whose behalf the instrument is deposited for the purpose of having the transfer registered.

5.4 Enquiry as to Title Not Required

Neither the Company nor any director, officer or agent of the Company is bound to inquire into the title of the person named in the instrument of transfer as transferee or, if no person is named as transferee in the instrument of transfer, of the person on whose behalf the instrument is deposited for the purpose of having the transfer registered or is liable for any claim related to registering the transfer by the shareholder or by any intermediate owner or holder of the shares, of any interest in the shares, of any share certificate representing such shares or of any written acknowledgement of a right to obtain a share certificate for such shares.

5.5 Transfer Fee

There must be paid to the Company, in relation to the registration of any transfer, the amount, if any, determined by the directors.

PART 6 TRANSMISSION OF SHARES

6.1 Legal Personal Representative Recognized on Death

In case of the death of a shareholder, the legal personal representative, or if the shareholder was a joint holder, the surviving joint holder, will be the only person recognized by the Company as having any title to the shareholder's interest in the shares. Before recognizing a person as a legal personal representative, the directors may require proof of appointment by a court of competent jurisdiction, a grant of letters probate, letters of administration or such other evidence or documents as the directors consider appropriate.

6.2 Rights of Legal Personal Representative

The legal personal representative of a shareholder has the same rights, privileges and obligations that attach to the shares held by the shareholder, including the right to transfer the shares in accordance with these Articles, provided the documents required by the *Business Corporations Act* and the directors have been deposited with the Company.

PART 7 PURCHASE OR REDEMPTION OF SHARES

7.1 Company Authorized to Purchase or Redeem Shares

Subject to Article 7.2, the special rights and restrictions attached to the shares of any class or series and the *Business Corporations Act*, the Company may, if authorized by the directors, purchase, redeem or otherwise acquire any of its shares at the price and upon the terms specified in such resolution.

7.2 Purchase or Redemption When Insolvent

The Company must not make a payment or provide any other consideration to purchase, redeem or otherwise acquire any of its shares if there are reasonable grounds for believing that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company is insolvent; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) making the payment or providing the consideration would render the Company insolvent.

7.3 Sale and Voting of Purchased Shares

If the Company retains a share redeemed, purchased or otherwise acquired by it, the Company may sell, gift or otherwise dispose of the share, but, while such share is held by the Company, it:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is not entitled to vote the share at a meeting of its shareholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) must not pay a dividend in respect of the share; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) must not make any other distribution in respect of the share.

PART 8 BORROWING POWERS

The Company, if authorized by the directors, may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) borrow money in the manner and amount, on the security, from the sources and on the terms and conditions that the directors consider appropriate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) issue bonds, debentures and other debt obligations either outright or as security for any liability or obligation of the Company or any other person and at such discounts or premiums and on such other terms as the directors consider appropriate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) guarantee the repayment of money by any other person or the performance of any obligation of any other person; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) mortgage, charge, whether by way of specific or floating charge, grant a security interest in, or give other security on, the whole or any part of the present and future assets and undertaking of the Company.

PART 9 ALTERATIONS

9.1 Alteration of Authorized Share Structure

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to the *Business Corporations Act*, the Company may by resolution of the board of directors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) create one or more classes or series of shares or, if none of the shares of a class or series of shares are allotted or issued, eliminate that class or series of shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) increase, reduce or eliminate the maximum number of shares that the Company is authorized to issue out of any class or series of shares or establish a maximum number of shares that the Company is authorized to issue out of any class or series of shares for which no maximum is established;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) subject to Article 2.1(2), alter the identifying name of any of its shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) subdivide or consolidate all or any of its unissued, or fully paid issued, shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) if the Company is authorized to issue shares of a class of shares with par value:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. decrease the par value of those shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. if none of the shares of that class of shares are allotted or issued, increase the par value of those shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) change all or any of its unissued, or fully paid issued, shares with par value into shares without par value or any of its unissued shares without par value into shares with par value; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) subject to Article 2.1(2), otherwise alter its shares or authorized share structure when required or permitted to do so by the *Business Corporations Act*.

9.2 Change of Name

The Company may by resolution of the board of directors authorize an alteration of its Notice of Articles in order to change its name or adopt or change any translation of that name.

9.3 Consolidation and Subdivision

The directors may, by directors' resolution, subdivide or consolidate all or any of the Company's issued and/or unissued shares.

9.4 Other Alterations

If the *Business Corporations Act* does not specify the type of resolution and these Articles do not specify another type of resolution, the Company may by ordinary resolution alter these Articles.

PART 10 MEETINGS OF SHAREHOLDERS

10.1 Annual General Meetings

Unless an annual general meeting is deferred or waived in accordance with the *Business Corporations Act*, the Company must hold its first annual general meeting within 18 months after the date on which it was incorporated or otherwise recognized, and after that must hold an annual general meeting at least once in each calendar year and not more than 15 months after the last annual reference date at such time and place as may be determined by the directors.

10.2 Resolution Instead of Annual General Meeting

If all the shareholders who are entitled to vote at an annual general meeting consent by a unanimous resolution under the *Business Corporations Act* to all of the business that is required to be transacted at that annual general meeting, the annual general meeting is deemed to have been held on the date of the unanimous resolution. The shareholders must, in any unanimous resolution passed under this Article 10.2, select as the Company's annual reference date a date that would be appropriate for the holding of the applicable annual general meeting.

10.3 Calling of Meetings of Shareholders

The directors may, whenever they think fit, call a meeting of shareholders.

10.4 Location of Shareholder Meetings

The directors may, by director's resolution, approve a location outside of British Columbia for the holding of a meeting of shareholders.

10.5 Notice for Meetings of Shareholders

The Company must send notice of the date, time and location of any meeting of shareholders, in the manner provided in these Articles, or in such other manner, if any, as may be prescribed by ordinary resolution (whether previous notice of the resolution has been given or not), to each shareholder entitled to attend the meeting, to each director and to the auditor of the Company, unless these Articles otherwise provide, at least the following number of days before the meeting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if and for so long as the Company is a public company, 21 days;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) otherwise, 10 days.

10.6 Record Date for Notice

The directors may set a date as the record date for the purpose of determining shareholders entitled to notice of any meeting of shareholders. The record date must not precede the date on which the meeting is to be held by more than two months or, in the case of a general meeting requisitioned by shareholders under the *Business Corporations Act*, by more than four months. The record date must not precede the date on which the meeting is held by fewer than:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if and for so long as the Company is a public company, 21 days;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) otherwise, 10 days.

If no record date is set, the record date is 5:00 p.m. on the day immediately preceding the first date on which the notice is sent or, if no notice is sent, the beginning of the meeting.

10.7 Record Date for Voting

The directors may set a date as the record date for the purpose of determining shareholders entitled to vote at any meeting of shareholders. The record date must not precede the date on which the meeting is to be held by more than two months or, in the case of a general meeting requisitioned by shareholders under the *Business Corporations Act*, by more than four months. If no record date is set, the record date is 5:00 p.m. on the day immediately preceding the first date on which the notice is sent or, if no notice is sent, the beginning of the meeting.

10.8 Class Meetings and Series Meetings of Shareholders

Subject to the provisions of the *Business Corporations Act*, unless specified otherwise in these Articles or in the special rights and restrictions attached to any class or series of shares, the provisions of these Articles relating to general meetings will apply, with the necessary changes and so far as they are applicable, to a class meeting or series meeting of shareholders holding a particular class or series of shares.

10.9 Failure to Give Notice and Waiver of Notice

The accidental omission to send notice of any meeting of shareholders to, or the non-receipt of any notice by, any of the persons entitled to notice does not invalidate any proceedings at that meeting. Any person entitled to notice of a meeting of shareholders may, in writing or otherwise, waive or reduce the period of notice of such meeting.

PART 11 PROCEEDINGS AT MEETINGS OF SHAREHOLDERS

11.1 Special Business

At a meeting of shareholders, the following business is special business:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) at a meeting of shareholders that is not an annual general meeting, all business is special business except business relating to the conduct of, or voting at, the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) at an annual general meeting, all business is special business except for the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) business relating to the conduct of, or voting at, the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) consideration of any financial statements of the Company presented to the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) consideration of any reports of the directors or auditor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the setting or changing of the number of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the election or appointment of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) the appointment of an auditor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) the setting of the remuneration of an auditor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) business arising out of a report of the directors not requiring the passing of a special resolution or an exceptional resolution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) any other business which, under these Articles or the *Business Corporations Act*, may be transacted at a meeting of shareholders without prior notice of the business being given to the shareholders.

11.2 Special Majority

The majority of votes required for the Company to pass a special resolution at a meeting of shareholders is two- thirds of the votes cast on the resolution.

11.3 Quorum

Subject to the special rights and restrictions attached to the shares of any class or series of shares, the quorum for the transaction of business at a meeting of shareholders is two (2) persons who are, or represent by proxy, shareholders holding, in the aggregate, at least five percent (5%) of the issued shares entitled to be voted at the meeting.

11.4 One Shareholder May Constitute Quorum

If there is only one shareholder entitled to vote at a meeting of shareholders:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the quorum is one person who is, or who represents by proxy, that shareholder, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that shareholder, present in person or by proxy, may constitute the meeting.

11.5 Meetings by Telephone or Other Communications Medium

A shareholder or proxy holder who is entitled to participate in, including vote at, a meeting of shareholders may participate in person or by telephone or other communications medium if all shareholders and proxy holders participating in the meeting, whether in person or by telephone or other communications medium, are able to communicate with each other. A shareholder who participates in a meeting in a manner contemplated by this Article **Error! Reference source not found.** is deemed for all purposes of the *Business Corporations Act* and these Articles to be present at the meeting and to have agreed to participate in that manner. Nothing in this Article **Error! Reference source not found.** obligates the Company to take any action or provide any facility to permit or facilitate the use of any communications medium at a meeting of shareholders.

11.6 Other Persons May Attend

The directors, the president (if any), the secretary (if any), the assistant secretary (if any), the auditor of the Company, the lawyers for the Company and any other persons invited by the directors are entitled to attend any meeting of shareholders, but if any of those persons does attend a meeting of shareholders, that person is not to be counted in the quorum and is not entitled to vote at the meeting unless that person is a shareholder or proxy holder entitled to vote at the meeting.

11.7 Requirement of Quorum

No business, other than the election of a chair of the meeting and the adjournment of the meeting, may be transacted at any meeting of shareholders unless a quorum of shareholders entitled to vote is present at the commencement of the meeting, but such quorum need not be present throughout the meeting.

11.8 Lack of Quorum

If, within one-half hour from the time set for the holding of a meeting of shareholders, a quorum is not present:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in the case of a general meeting requisitioned by shareholders, the meeting is dissolved; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the case of any other meeting of shareholders, the meeting stands adjourned to the same day in the next week at the same time and place.

11.9 Lack of Quorum at Succeeding Meeting

If, at the meeting to which the meeting referred to in Article 11.7(2) was adjourned, a quorum is not present within one-half hour from the time set for the holding of the meeting, the person or persons present and being, or representing by proxy, one or more shareholders entitled to attend and vote at the meeting constitute a quorum.

11.10 Chair

The following individual is entitled to preside as chair at a meeting of shareholders:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the chair of the board, if any;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if the chair of the board is absent or unwilling to act as chair of the meeting, the president, if any; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) such other person designated by the directors.

11.11 Selection of Alternate Chair

If, at any meeting of shareholders, the person appointed under section 11.9 above is not present within 15 minutes after the time set for holding the meeting, or if such person is unwilling to act as chair of the meeting, or if such person has advised the secretary, if any, or any director present at the meeting, that such person will not be present at the meeting, the directors present must choose: one of their number, a senior officer or counsel to the Company to chair the meeting or if the director, senior officer or counsel present declines to take the chair or if the directors fail to so choose or if no director, senior officer or counsel is present, the shareholders entitled to vote at the meeting who are present in person or by proxy may choose any person present at the meeting to chair the meeting.

11.12 Adjournments

The chair of a meeting of shareholders may, and if so directed by the meeting must, adjourn the meeting from time to time and from place to place, but no business may be transacted at any adjourned meeting other than the business left unfinished at the meeting from which the adjournment took place.

11.13 Notice of Adjourned Meeting

It is not necessary to give any notice of an adjourned meeting or of the business to be transacted at an adjourned meeting of shareholders except that, when a meeting is adjourned for thirty days or more, notice of the adjourned meeting must be given as in the case of the original meeting.

11.14 Decisions by Show of Hands or Poll

Every motion put to a vote at a meeting of shareholders will be decided on a show of hands unless a poll, before or on the declaration of the result of the vote by show of hands, is directed by the chair or demanded by at least one shareholder entitled to vote who is present in person or by proxy.

11.15 Declaration of Result

The chair of a meeting of shareholders must declare to the meeting the decision on every question in accordance with the result of the show of hands or the poll, as the case may be, and that decision must be entered in the minutes of the meeting. A declaration of the chair that a resolution is carried by the necessary majority or is defeated is, unless a poll is directed by the chair or demanded under Article 11.13, conclusive evidence without proof of the number or proportion of the votes recorded in favour of or against the resolution.

11.16 Motion Need Not be Seconded

No motion proposed at a meeting of shareholders need be seconded unless the chair of the meeting rules otherwise, and the chair of any meeting of shareholders is entitled to propose or second a motion.

11.17 Casting Vote

In case of an equality of votes, the chair of a meeting of shareholders does not, either on a show of hands or on a poll, have a second or casting vote in addition to the vote or votes to which the chair may be entitled as a shareholder.

11.18 Manner of Taking Poll

Subject to Article 11.18, if a poll is duly demanded at a meeting of shareholders:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the poll must be taken:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) at the meeting, or within seven days after the date of the meeting, as the chair of the meeting directs; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) in the manner, at the time and at the place that the chair of the meeting directs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the result of the poll is deemed to be the decision of the meeting at which the poll is demanded; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the demand for the poll may be withdrawn by the person who demanded it.

11.19 Demand for Poll on Adjournment

A poll demanded at a meeting of shareholders on a question of adjournment must be taken immediately at the meeting.

11.20 Chair Must Resolve Dispute

In the case of any dispute as to the admission or rejection of a vote given on a poll, the chair of a meeting of the shareholders must determine the dispute, and his or her determination made in good faith is final and conclusive.

11.21 Casting of Votes

On a poll, a shareholder entitled to more than one vote need not cast all the votes in the same way.

11.22 Demand for Poll

No poll may be demanded in respect of the vote by which a chair of a meeting of shareholders is elected.

11.23 Demand for Poll Not to Prevent Continuance of Meeting

The demand for a poll at a meeting of shareholders does not, unless the chair of the meeting so rules, prevent the continuation of a meeting for the transaction of any business other than the question on which a poll has been demanded.

11.24 Retention of Ballots and Proxies

The Company must, for at least three months after a meeting of shareholders, keep each ballot cast on a poll and each proxy voted at the meeting, and during that period, make such ballots and proxies available for inspection during normal business hours by any shareholder or proxyholder entitled to vote at the meeting. At the end of such three month period, the Company may destroy such ballots and proxies.

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|:---|:---|
| PART 12 | VOTES OF SHAREHOLDERS |

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12.1 Number of Votes by Shareholder or by Shares

Subject to any special rights or restrictions attached to any shares and to the restrictions imposed on joint shareholders under Article 12.3:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) on a vote by show of hands, every person present who is a shareholder or proxy holder and entitled to vote on the matter has one vote; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) on a poll, every shareholder entitled to vote on the matter has one vote in respect of each share entitled to be voted on the matter and held by that shareholder and may exercise that vote either in person or by proxy.

12.2 Votes of Persons in Representative Capacity

A person who is not a shareholder may vote at a meeting of shareholders, whether on a show of hands or on a poll, and may appoint a proxy holder to act at the meeting, if, before doing so, the person satisfies the chair of the meeting, or the directors, that the person is a legal personal representative for a shareholder who is entitled to vote at the meeting.

12.3 Votes by Joint Holders

If there are joint shareholders registered in respect of any share:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any one of the joint shareholders may vote at any meeting of the shareholders, either personally or by proxy, in respect of the share as if that joint shareholder were solely entitled to it; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if more than one of the joint shareholders is present at any meeting of the shareholders, personally or by proxy, and more than one of the joint shareholders votes in respect of that share, then only the vote of the joint shareholder present whose name stands first on the central securities register in respect of the share will be counted.

12.4 Legal Personal Representatives as Joint Shareholders

Two or more legal personal representatives of a shareholder in whose sole name any share is registered are, for the purposes of Article12.3, deemed to be joint shareholders.

12.5 Representative of a Corporate Shareholder

If a corporation, that is not a subsidiary of the Company, is a shareholder, that corporation may appoint a person to act as its representative at any meeting of the shareholders by written instrument, fax or any other method of transmitting legibly recorded messages and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) for that purpose, the instrument appointing a representative must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) be received at the registered office of the Company or at any other place specified for the receipt of proxies, in the notice calling the meeting, at least the number of business days for the receipt of proxies specified in the notice, or if no number of days is specified in the notice, at least, two business days before the day set for the holding of the meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) be provided, at the meeting, to the chair of the meeting or to a person designated by the chair of the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if a representative is appointed under this Article 12.5:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the representative is entitled to exercise in respect of and at that meeting the same rights on behalf of the corporation that the corporation could exercise if it were a shareholder who is an individual, including, without limitation, the right to appoint a proxy holder; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the representative, if present at the meeting, is to be counted for the purpose of forming a quorum and is deemed to be a shareholder present in person at the meeting.

12.6 Proxy Provisions Do Not Apply to All Companies

Article 12.9 does not apply to the Company if and for so long as it is a public company or a pre-existing reporting company which has the Statutory Reporting Company Provisions as part of its Articles or to which the Statutory Reporting Company Provisions apply. Sections 12.7 to 12.15 apply to the Company only insofar as they are not inconsistent with any applicable securities legislation and any regulations and rules made and promulgated under such legislation and all administrative policy statements, blanket orders and rulings, notices and other administrative directions issued by securities commission or similar authorities appointed under that legislation.

12.7 Appointment of Proxy Holders

Every shareholder of the Company, including a corporation that is a shareholder but not a subsidiary of the Company, entitled to vote at a meeting of the shareholders of the Company may, by proxy, appoint one or more (but not more than five) proxy holders to attend and act at the meeting in the manner, to the extent and with the powers conferred by the instrument of proxy.

12.8 Alternate Proxy Holders

A shareholder may appoint one or more alternate proxy holders to act in the place of an absent proxy holder.

12.9 Form of Proxy

A proxy, whether for a specified meeting or otherwise, must be either in the following form or in any other form designated by the directors, the scrutineer or the chair of the meeting:

**FORT TECHNOLOGY INC.**

(the "Company")

The undersigned, being a shareholder of the Company, hereby appoints *[name]* or, failing that person, *[name]*, as proxy holder for the undersigned to attend, act and vote for and on behalf of the undersigned at the meeting of shareholders of the Company to be held on *[month, day, year]* and at any adjournment of that meeting.

Number of shares in respect of which this proxy is given (if no number is specified, then this proxy is given in respect of all shares registered in the name of the undersigned):_______________

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| |
|:---|
| Signed *[month, day, year]* |
| *[Signature of shareholder]* |
| *[Name of shareholder- printed]* |

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12.10 Deposit of Proxy

A proxy for a meeting of shareholders must be by written instrument, fax or any other method of transmitting legibly messages and must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) be received at the registered office of the Company or at any other place specified for the receipt of proxies, in the notice calling the meeting, at least the number of business days specified in the notice for the receipt of proxies, or if no number of days is specified, in the notice, at least two business days before the day set for the holding of the meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) unless the notice provides otherwise, be deposited at the meeting, to the chair of the meeting or to a person designated by the chair of the meeting.

A proxy may be sent to the Company by written instrument, fax or any other method of transmitting legibly recorded messages.

12.11 Revocation of Proxy

Subject to Article 12.12, every proxy may be revoked by an instrument in writing that is :

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) received at the registered office of the Company at any time up to and including the last business day before the day set for the holding of the meeting at which the proxy is to be used; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) deposited with the chair of the meeting, at the meeting, before any vote in respect of which the proxy is to be used shall have been taken.

12.12 Revocation of Proxy Must Be Signed

An instrument referred to in Article 12.12 must be signed as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if the shareholder for whom the proxy holder is appointed is an individual, the instrument must be signed by the shareholder or his or her legal personal representative;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if the shareholder for whom the proxy holder is appointed is a corporation, the instrument must be signed by the corporation or by a representative appointed for the corporation under Article 12.5.

12.13 Production of Evidence of Authority to Vote

The chair of any meeting of shareholders may, but need not, inquire into the authority of any person to vote at the meeting and may, but need not, demand from that person production of evidence as to the existence of the authority to vote.

PART 13 DIRECTORS

13.1 First Directors; Number of Directors

The first directors are the persons designated as directors of the Company in the Notice of Articles that applies to the Company when it is recognized under the *Business Corporations Act*. The number of directors, excluding additional directors appointed under Article 14.8, is set at:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) subject to paragraphs (2) and (3), the number of directors that is equal to the number of the Company's first directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if the Company is a public company, the greater of three and the most recently set of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a number fixed from time to time by the board of directors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the number of directors set under Article 14.4;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if the Company is not a public company, the most recently set of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a number fixed from time to time by the board of directors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the number of directors set under Article 14.4.

13.2 Change in Number of Directors

If the number of directors is set under Articles 13.1(b)(i) or 13.1(c)(i):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the shareholders may elect or appoint the directors needed to fill any vacancies in the board of directors up to that number;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if the shareholders do not elect or appoint the directors needed to fill any vacancies in the board of directors up to that number contemporaneously with the setting of that number, then the directors may appoint, or the shareholders may elect or appoint, directors to fill those vacancies.

13.3 Directors' Acts Valid Despite Vacancy

An act or proceeding of the directors is not invalid merely because fewer than the number of directors set or otherwise required under these Articles is in office.

13.4 Qualifications of Directors

A director is not required to hold a share in the capital of the Company as qualification for his or her office but must be qualified as required by the *Business Corporations Act* to become, act or continue to act as a director.

13.5 Remuneration of Directors

The directors are entitled to the remuneration for acting as directors, if any, as the directors may from time to time determine. If the directors so decide, the remuneration of the directors, if any, will be determined by the shareholders. That remuneration may be in addition to any salary or other remuneration paid to any officer or employee of the Company as such, who is also a director.

13.6 Reimbursement of Expenses of Directors

The Company must reimburse each director for the reasonable expenses that he or she may incur in and about the business of the Company.

13.7 Special Remuneration for Directors

If any director performs any professional or other services for the Company that in the opinion of the directors are outside the ordinary duties of a director, or if any director is otherwise specially occupied in or about the Company's business, he or she may be paid remuneration fixed by the directors, or, at the option of that director, fixed by ordinary resolution, and such remuneration may be either in addition to, or in substitution for, any other remuneration that he or she may be entitled to receive.

13.8 Gratuity, Pension or Allowance on Retirement of Director

Unless otherwise determined by ordinary resolution, the directors on behalf of the Company may pay a gratuity or pension or allowance on retirement to any director who has held any salaried office or place of profit with the Company or to his or her spouse or dependants and may make contributions to any fund and pay premiums for the purchase or provision of any such gratuity, pension or allowance.

PART 14 ELECTION AND REMOVAL OF DIRECTORS

14.1 Election at Annual General Meeting

At every annual general meeting and in every unanimous resolution contemplated by Article 10.2:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the shareholders entitled to vote at the annual general meeting for the election of directors must elect, or in the unanimous resolution appoint, a board of directors consisting of the number of directors for the time being set under these Articles; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all the directors cease to hold office immediately before the election or appointment of directors under paragraph (1), but are eligible for re-election or re-appointment.

14.2 Consent to be a Director

No election, appointment or designation of an individual as a director is valid unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) that individual consents to be a director in the manner provided for in the *Business Corporations Act*;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that individual is elected or appointed at a meeting at which the individual is present and the individual does not refuse, at the meeting, to be a director; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) with respect to first directors, the designation is otherwise valid under the *Business Corporations Act*.

14.3 Failure to Elect or Appoint Directors

If:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company fails to hold an annual general meeting, and all the shareholders who are entitled to vote at an annual general meeting fail to pass the unanimous resolution contemplated by Article 10.2, on or before the date by which the annual general meeting is required to be held under the *Business Corporations Act*; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the shareholders fail, at the annual general meeting or in the unanimous resolution contemplated by Article 10.2, to elect or appoint any directors;

then each director then in office continues to hold office until the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the date on which his or her successor is elected or appointed; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the date on which he or she otherwise ceases to hold office under the *Business Corporations Act* or these Articles.

14.4 Places of Retiring Directors Not Filled

If, at any meeting of shareholders at which there should be an election of directors, the places of any of the retiring directors are not filled by that election, those retiring directors who are not re-elected and who are asked by the newly elected directors to continue in office will, if willing to do so, continue in office to complete the number of directors for the time being set pursuant to these Articles until further new directors are elected at a meeting of shareholders convened for that purpose. If any such election or continuance of directors does not result in the election or continuance of the number of directors for the time being set pursuant to these Articles, the number of directors of the Company is deemed to be set at the number of directors actually elected or continued in office.

14.5 Directors May Fill Casual Vacancies,

Any casual vacancy occurring in the board of directors may be filled by the directors.

14.6 Remaining Directors Power to Act

The directors may act notwithstanding any vacancy in the board of directors, but if the Company has fewer directors in office than the number set pursuant to these Articles as the quorum of directors, the directors may only act for the purpose of appointing directors up to that number or of summoning a meeting of shareholders for the purpose of filling any vacancies on the board of directors or, subject to the *Business Corporations Act*, for any other purpose.

14.7 Shareholders May Fill Vacancies

If the Company has no directors or fewer directors in office than the number set pursuant to these Articles as the quorum of directors, the shareholders may elect or appoint directors to fill any vacancies on the board of directors.

14.8 Additional Directors

Notwithstanding Articles 13.1 and 13.2, between annual general meetings or unanimous resolutions contemplated by Article 10.2, the directors may appoint one or more additional directors, but the number of additional directors appointed under this Article 14.8 must not at any time exceed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) one-third of the number of first directors, if, at the time of the appointments, one or more of the first directors have not yet completed their first term of office; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in any other case, one-third of the number of the current directors who were elected or appointed as directors other than under this Article 14.8.

Any director so appointed ceases to hold office immediately before the next election or appointment of directors under Article 14.1(a), but is eligible for re-election or re-appointment.

14.9 Ceasing to be a Director

A director ceases to be a director when:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the term of office of the director expires;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the director dies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the director resigns as a director by notice in writing provided to the Company or a lawyer for the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the director is removed from office pursuant to Articles 14.10 or 14.11.

14.10 Removal of Director by Shareholders

The Company may remove any director before the expiration of his or her term of office by special resolution. In that event, the shareholders may elect, or appoint by ordinary resolution, a director to fill the resulting vacancy. If the shareholders do not elect or appoint a director to fill the resulting vacancy contemporaneously with the removal, then the directors may appoint or the shareholders may elect, or appoint by ordinary resolution, a director to fill that vacancy.

14.11 Removal of Director by Directors

The directors may remove any director before the expiration of his or her term of office if the director is convicted of an indictable offence, or if the director ceased to be qualified to act as a director of a company and does not promptly resign, and the directors may appoint a director to fill the resulting vacancy.

PART 15 POWERS AND DUTIES OF DIRECTORS

15.1 Powers of Management

The directors must, subject to the *Business Corporations Act* and these Articles, manage or supervise the management of the business and affairs of the Company and have the authority to exercise all such powers of the Company as are not, by the *Business Corporations Act* or by these Articles, required to be exercised by the shareholders of the Company.

15.2 Appointment of Attorney of Company

The directors may from time to time, by power of attorney or other instrument, under seal if so required by law, appoint any person to be the attorney of the Company for such purposes, and with such powers, authorities and discretions (not exceeding those vested in or exercisable by the directors under these Articles and excepting the power to fill vacancies in the board of directors, to remove a director, to change the membership of, or fill vacancies in, any committee of the directors, to appoint or remove officers appointed by the directors and to declare dividends) and for such period, and with such remuneration and subject to such conditions as the directors may think fit. Any such power of attorney may contain such provisions for the protection or convenience of persons dealing with such attorney as the directors think fit. Any such attorney may be authorized by the directors to sub-delegate all or any of the powers, authorities and discretions for the time being vested in him or her.

PART 16 DISCLOSURE OF INTEREST OF DIRECTORS

16.1 Obligation to Account for Profits

A director or senior officer who holds a disclosable interest (as that term is used in the *Business Corporations Act*) in a contract or transaction into which the Company has entered or proposes to enter is liable to account to the Company for any profit that accrues to the director or senior officer under or as a result of the contract or transaction only if and to the extent provided in the *Business Corporations Act*.

16.2 Restrictions on Voting by Reason of Interest

A director who holds a disclosable interest in a contract or transaction into which the Company has entered or proposes to enter is not entitled to vote on any directors' resolution to approve that contract or transaction, unless all the directors have a disclosable interest in that contract or transaction, in which case any or all of those directors may vote on such resolution.

16.3 Interested Director Counted in Quorum

A director who holds a disclosable interest in a contract or transaction into which the Company has entered or proposes to enter and who is present at the meeting of directors at which the contract or transaction is considered for approval may be counted in the quorum at the meeting whether or not the director votes on any or all of the resolutions considered at the meeting.

16.4 Disclosure of Conflict of Interest or Property

A director or senior officer who holds any office or possesses any property, right or interest that could result, directly or indirectly, in the creation of a duty or interest that materially conflicts with that individual's duty or interest as a director or senior officer, must disclose the nature and extent of the conflict as required by the *Business Corporations Act*.

16.5 Director Holding Other Office in the Company

A director may hold any office or place of profit with the Company, other than the office of auditor of the Company, in addition to his or her office of director for the period and on the terms (as to remuneration or otherwise) that the directors may determine.

16.6 No Disqualification

No director or intended director is disqualified by his or her office from contracting with the Company either with regard to the holding of any office or place of profit the director holds with the Company or as vendor, purchaser or otherwise, and no contract or transaction entered into by or on behalf of the Company in which a director is in any way interested is liable to be voided for that reason.

16.7 Professional Services by Director or Officer

Subject to the *Business Corporations Act*, a director or officer, or any person in which a director or officer has an interest, may act in a professional capacity for the Company, except as auditor of the Company, and the director or officer or such person is entitled to remuneration for professional services as if that director or officer were not a director or officer.

16.8 Director or Officer in Other Corporations

A director or officer may be or become a director, officer or employee of, or otherwise interested in, any person in which the Company may be interested as a shareholder or otherwise, and, subject to the *Business Corporations Act*, the director or officer is not accountable to the Company for any remuneration or other benefits received by him or her as director, officer or employee of, or from his or her interest in, such other person.

PART 17 PROCEEDINGS OF DIRECTORS

17.1 Meetings of Directors

The directors may meet together for the conduct of business, adjourn and otherwise regulate their meetings as the directors think fit, and meetings of the directors held at regular intervals may be held at the place, at the time and on the notice, if any, as the directors may from time to time determine.

17.2 Voting at Meetings

Questions arising at any meeting of directors are to be decided by a majority of votes and, in the case of an equality of votes, the chair of the meeting does not have a second or casting vote.

17.3 Chair of Meetings

The following individual is entitled to preside as chair at a meeting of directors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the chair of the board, if any;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the absence of the chair of the board, the president, if any, if the president is a director; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any other director chosen by the directors if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) neither the chair of the board nor the president, if a director, is present at the meeting within 15 minutes after the time set for holding the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) neither the chair of the board nor the president, if a director, is willing to chair the meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the chair of the board and the president, if a director, have advised the secretary, if any, or any other director, that the chair of the board and the president will not be present at the meeting.

17.4 Meetings by Telephone or Other Communications Medium

A director may participate in a meeting of the directors or of any committee of the directors in person or by telephone if all directors participating in the meeting, whether in person or by telephone or other communications medium, are able to communicate with each other. A director may participate in a meeting of the directors or of any committee of the directors by a communications medium other than telephone if all directors participating in the meeting, whether in person or by telephone or other communications medium, are able to communicate with each other and if all directors who wish to participate in the meeting agree to such participation. A director who participates in a meeting in a manner contemplated by this Article 17.4 is deemed for all purposes of the *Business Corporations Act* and these Articles to be present at the meeting and to have agreed to participate in that manner.

17.5 Calling of Meetings

A director may, and the secretary or an assistant secretary of the Company, if any, on the request of a director must, call a meeting of the directors at any time.

17.6 Notice of Meetings,

Other than for meetings held at regular intervals as determined by the directors pursuant to Article 17.1, reasonable notice of each meeting of the directors, specifying the place, day and time of that meeting must be given to each of the directors by any method set out in Article 23.1 or orally or by telephone.

17.7 When Notice Not Required

It is not necessary to give notice of a meeting of the directors to a director if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the meeting is to be held immediately following a meeting of shareholders at which that director was elected or appointed, or is the meeting of the directors at which that director is appointed; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the director has waived notice of the meeting.

17.8 Meeting Valid Despite Failure to Give Notice

The accidental omission to give notice of any meeting of directors to, or the non-receipt of any notice by, any director does not invalidate any proceedings at that meeting.

17.9 Waiver of Notice of Meetings

Any director may send to the Company a document signed by him or her waiving notice of any past, present or future meeting or meetings of the directors and may at any time withdraw that waiver with respect to meetings held after that withdrawal. After sending a waiver with respect to all future meetings and until that waiver is withdrawn, no notice of any meeting of the directors need be given to that director and all meetings of the directors so held are deemed not to be improperly called or constituted by reason of notice not having been given to such director.

17.10 Quorum

The quorum necessary for the transaction of the business of the directors may be set by the directors and, if not so set, is deemed to be set at two directors or, if the number of directors is set at one, is deemed to be set at one director, and that director may constitute a meeting.

17.11 Validity of Acts Where Appointment Defective

Subject to the *Business Corporations Act*, an act of a director or officer is not invalid merely because of an irregularity in the election or appointment or a defect in the qualification of that director or officer.

17.12 Consent Resolutions in Writing

A resolution of the directors or of any committee of the directors may be passed without a meeting:

(a) in all cases, if each of the directors entitle to vote on the resolution consents to it in writing; or

(b) in the case of a resolution to approve a contract or transaction in respect of which a director has disclosed that he or she has or may have a disclosable interest, if each of the other directors who are entitled to vote on the resolution consents to it in writing.

A consent in writing under this Article 17 may be evidence by signed document, fax, email or any other method of transmitting legibly recorded messages. A consent in writing may be in two or more counterparts which together are deemed to constitute one entire document. A resolution of the directors or of any committee of the directors passed in accordance with this Article 17.12 is deemed to effective on the date stated in the consent in writing and is deemed to be a proceeding at a meeting of directors or of the committee of the directors and to be valid and effective as if it had been passed at a meeting of the directors or of the committee of the directors that satisfies all the requirements of the *Business Corporations Act* and all the requirements of these Articles relating to such meetings.

PART 18 EXECUTIVE AND OTHER COMMITTEES

18.1 Appointment and Powers of Executive Committee

The directors may, by resolution, appoint an executive committee consisting of the director or directors that they consider appropriate, and this committee has, during the intervals between meetings of the board of directors, all of the directors' powers, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the power to fill vacancies in the board of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the power to remove a director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the power to change the membership of, or fill vacancies in, any committee of the directors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) such other powers, if any, as may be set out in the resolution or any subsequent directors' resolution.

18.2 Appointment and Powers of Other Committees

The directors may, by resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) appoint one or more committees (other than the executive committee) consisting of the director or directors that they consider appropriate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) delegate to a committee appointed under paragraph (1) any of the directors' powers, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the power to fill vacancies in the board of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the power to remove a director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the power to change the membership of, or fill vacancies in, any committee of the directors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the power to appoint or remove officers appointed by the directors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) make any delegation referred to in paragraph (2) subject to the conditions set out in the resolution or any subsequent directors' resolution.

18.3 Obligations of Committees

Any committee appointed under Articles 18.1 or 18.2, in the exercise of the powers delegated to it, must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) conform to any rules that may from time to time be imposed on it by the directors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) report every act or thing done in exercise of those powers at such times as the directors may require.

18.4 Powers of Board

The directors may, at any time, with respect to a committee appointed under Articles 18.1 or 18.2:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) revoke or alter the authority given to the committee, or override a decision made by the committee, except as to acts done before such revocation, alteration or overriding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) terminate the appointment of, or change the membership of, the committee; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) fill vacancies in the committee.

18.5 Committee Meetings

Subject to Article 18.3(1) and unless the directors otherwise provide in the resolution appointing the committee or in any subsequent resolution, with respect to a committee appointed under Articles 18.1 or 18.2:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the committee may meet and adjourn as it thinks proper;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the committee may elect a chair of its meetings but, if no chair of a meeting is elected, or if at a meeting the chair of the meeting is not present within 15 minutes after the time set for holding the meeting, the directors present who are members of the committee may choose one of their number to chair the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) a majority of the members of the committee constitutes a quorum of the committee; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) questions arising at any meeting of the committee are determined by a majority of votes of the members present, and in case of an equality of votes, the chair of the meeting does not have a second or casting vote.

PART 19 OFFICERS

19.1 Directors May Appoint Officers

The directors may, from time to time, appoint such officers, if any, as the directors determine and the directors may, at any time, terminate any such appointment.

19.2 Functions, Duties and Powers of Officers

The directors may, for each officer:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) determine the functions and duties of the officer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) entrust to and confer on the officer any of the powers exercisable by the directors on such terms and conditions and with such restrictions as the directors think fit; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) revoke, withdraw, alter or vary all or any of the functions, duties and powers of the officer.

19.3 Qualifications

No officer may be appointed unless that officer is qualified in accordance with the *Business Corporations Act*. One person may hold more than one position as an officer of the Company. Any person appointed as the chair of the board or as the managing director must be a director. Any other officer need not be a director.

19.4 Remuneration and Terms of Appointment

All appointments of officers are to be made on the terms and conditions and at the remuneration (whether by way of salary, fee, commission, participation in profits or otherwise) that the directors think fit and are subject to termination at the pleasure of the directors, and an officer may in addition to such remuneration be entitled to receive, after he or she ceases to hold such office or leaves the employment of the Company, a pension or gratuity.

PART 20 INDEMNIFICATION

20.1 Definitions

In this Article 20:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "eligible penalty" means a judgment, penalty or fine awarded or imposed in, or an amount paid in settlement of, an eligible proceeding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "eligible proceeding" means a legal proceeding or investigative action, whether current, threatened, pending or completed, in which a director, former director, officer, or former officer of the Company (an "eligible party") or any of the heirs and legal personal representatives of the eligible party, by reason of the eligible party being or having been a director, former director, officer or former officer of the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) is or may be joined as a party; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) is or may be liable for or in respect of a judgment, penalty or fine in, or expenses related to, the proceeding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "expenses" has the meaning set out in the *Business Corporations Act*.

20.2 Mandatory Indemnification of Directors and Former Directors

Subject to the *Business Corporations Act,* the Company may indemnify a director, former director, officer or former officer of the Company and his or her heirs and legal personal representatives against all eligible penalties to which such person is or may be liable, and the Company may, after the final disposition of an eligible proceeding, pay the expenses actually and reasonably incurred by such person in respect of that proceeding. Each director and officer is deemed to have contracted with the Company on the terms of the indemnity contained in this Article 20.2.

20.3 Indemnification of Other Persons

Subject to any restrictions in the *Business Corporations Act*, the Company may indemnify any person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20.4** **Non-Compliance with *Business Corporations Act*** 

The failure of a director, former director, officer or former officer of the Company to comply with the *Business Corporations Act* or these Articles does not invalidate any indemnity to which he or she is entitled under this Part.

20.5 Company May Purchase Insurance

The Company may purchase and maintain insurance for the benefit of any person (or his or her heirs or legal personal representatives) who:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is or was a director, alternate director, officer, employee or agent of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is or was a director, alternate director, officer, employee or agent of a corporation at a time when the corporation is or was an affiliate of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) at the request of the Company, is or was a director, alternate director, officer, employee or agent of a corporation or of a partnership, trust, joint venture or other unincorporated entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) at the request of the Company, holds or held a position equivalent to that of a director, alternate director or officer of a partnership, trust, joint venture or other unincorporated entity;

against any liability incurred by him or her as such director, alternate director, officer, employee or agent or person who holds or held such equivalent position.

PART 21 DIVIDENDS

21.1 Payment of Dividends Subject to Special Rights

The provisions of this Article Part 21 are subject to Article 2.1 and to the rights, if any, of shareholders holding shares with special rights as to dividends.

21.2 Declaration of Dividends

Subject to the *Business Corporations Act*, the directors may from time to time declare and authorize payment of such dividends as the directors may deem advisable.

21.3 No Notice Required

The directors need not give notice to any shareholder of any declaration under Article 21.2.

21.4 Record Date

The directors may set a date as the record date for the purpose of determining shareholders entitled to receive payment of a dividend. The record date must not precede the date on which the dividend is to be paid by more than two months. If no record date is set, the record date is 5:00 p.m. on the date on which the directors pass the resolution declaring the dividend.

21.5 Manner of Paying Dividend

A resolution declaring a dividend may direct payment of the dividend wholly or partly by the distribution of specific assets or of fully paid shares or of bonds, debentures or other securities of the Company, or in any one or more of those ways.

21.6 Settlement of Difficulties

If any difficulty arises in regard to a distribution under Article 21.5, the directors may settle the difficulty as the directors deem advisable, and, in particular, may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) set the value for distribution of specific assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) determine that cash payments in substitution for all or any part of the specific assets to which any shareholders are entitled may be made to any shareholders on the basis of the value so fixed in order to adjust the rights of all parties; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) vest any such specific assets in trustees for the persons entitled to the dividend.

21.7 When Dividend Payable

Any dividend may be made payable on such date as is fixed by the directors.

21.8 Dividends to be Paid in Accordance with Number of Shares

All dividends on shares of any class or series of shares must be declared and paid according to the number of such shares held.

21.9 Receipt by Joint Shareholders

If several persons are joint shareholders of any share, any one of such joint shareholders may give an effective receipt for any dividend, bonus or other money payable in respect of the share.

21.10 Dividend Bears No Interest

No dividend bears interest against the Company.

21.11 Fractional Dividends

If a dividend to which a shareholder is entitled includes a fraction of the smallest monetary unit of the currency of the dividend, that fraction may be disregarded in making payment of the dividend and that payment represents full payment of the dividend.

21.12 Payment of Dividends

Any dividend or other distribution payable in cash in respect of shares may be paid by cheque, made payable to the order of the person to whom it is sent, and mailed to the address of the shareholder, or in the case of joint shareholders, to the address of the joint shareholder who is first named on the central securities register, or to the person and to the address the shareholder or joint shareholders may direct in writing. The mailing of such cheque will, to the extent of the sum represented by the cheque (plus the amount of the tax required by law to be deducted), discharge all liability for the dividend unless such cheque is not paid on presentation or the amount of tax so deducted is not paid to the appropriate taxing authority.

21.13 Capitalization of Surplus

Notwithstanding anything contained in these Articles, the directors may from time to time capitalize any surplus of the Company and may from time to time issue, as fully paid, shares or any bonds, debentures or other securities of the Company as a dividend representing the surplus or any part of the surplus.

PART 22 DOCUMENTS, RECORDS AND REPORTS

22.1 Recording of Financial Affairs

The directors must cause adequate accounting records to be kept to record properly the financial affairs and condition of the Company and to comply with the *Business Corporations Act*.

22.2 Inspection of Accounting Records

Unless the directors determine otherwise, or unless otherwise determined by ordinary resolution, no shareholder of the Company is entitled to inspect or obtain a copy of any accounting records of the Company.

PART 23 NOTICES

23.1 Method of Giving Notice

Unless the *Business Corporations Act* or these Articles provides otherwise, a notice, statement, report or other record required or permitted by the *Business Corporations Act* or these Articles to be sent by or to a person may be sent by any one of the following methods:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) mail addressed to the person at the applicable address for that person as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) for a record mailed to a shareholder, the shareholder's registered address;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) for a record mailed to a director or officer, the prescribed address for mailing shown for the director or officer in the records kept by the Company or the mailing address provided by the recipient for the sending of that record or records of that class;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) in any other case, the mailing address of the intended recipient;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) delivery at the applicable address for that person as follows, addressed to the person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) for a record delivered to a shareholder, the shareholder's registered address;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) for a record delivered to a director or officer, the prescribed address for delivery shown for the director or officer in the records kept by the Company or the delivery address provided by the recipient for the sending of that record or records of that class;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) in any other case, the delivery address of the intended recipient;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) sending the record by fax to the fax number provided by the intended recipient for the sending of that record or records of that class;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) sending the record by email to the email address provided by the intended recipient for the sending of that record or records of that class;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) physical delivery to the intended recipient.

23.2 Deemed Receipt of Mailing

A record that is mailed to a person by ordinary mail to the applicable address for that person referred to in Article 23.1 is deemed to be received by the person to whom it was mailed on the day, Saturdays, Sundays and holidays excepted, following the date of mailing.

23.3 Certificate of Sending

A certificate signed by the secretary, if any, or other officer of the Company or of any other corporation acting in that behalf for the Company stating that a notice, statement, report or other record was addressed as required by Article 23.1, prepaid and mailed or otherwise sent as permitted by Article 23.1 is conclusive evidence of that fact.

23.4 Notice to Joint Shareholders

A notice, statement, report or other record may be provided by the Company to the joint shareholders of a share by providing the notice to the joint shareholder first named in the central securities register in respect of the share.

23.5 Notice to Trustees

A notice, statement, report or other record may be provided by the Company to the persons entitled to a share in consequence of the death, bankruptcy or incapacity of a shareholder by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) mailing the record, addressed to such person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) by name, by the title of the legal personal representative of the deceased or incapacitated shareholder, by the title of trustee of the bankrupt shareholder or by any similar description; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) at the address, if any, supplied to the Company for that purpose by the persons claiming to be so entitled; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if an address referred to in paragraph (1)(b) has not been supplied to the Company, by giving the notice in a manner in which it might have been given if the death, bankruptcy or incapacity had not occurred.

PART 24 SEAL

24.1 Who May Attest Seal

Except as provided in Articles 24.2 and 24.3, the Company's seal, if any, must not be impressed on any record except when that impression is attested by the signatures of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any two directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any officer, together with any director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if the Company only has one director, that director; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any one or more directors or officers or persons as may be determined by the directors.

24.2 Sealing Copies

For the purpose of certifying under seal a certificate of incumbency of the directors or officers of the Company or a true copy of any resolution or other document, despite Article 24.1, the impression of the seal may be attested by the signature of any director or officer.

24.3 Mechanical Reproduction of Seal

The directors may authorize the seal to be impressed by third parties on share certificates or bonds, debentures or other securities of the Company as the directors may determine appropriate from time to time. To enable the seal to be impressed on any share certificates or bonds, debentures or other securities of the Company, whether in definitive or interim form, on which facsimiles of any of the signatures of the directors or officers of the Company are, in accordance with the *Business Corporations Act* or these Articles, printed or otherwise mechanically reproduced, there may be delivered to the person employed to engrave, lithograph or print such definitive or interim share certificates or bonds, debentures or other securities one or more unmounted dies reproducing the seal and the chair of the board or any senior officer together with the secretary, treasurer, secretary-treasurer, an assistant secretary, an assistant treasurer or an assistant secretary-treasurer may in writing authorize such person to cause the seal to be impressed on such definitive or interim share certificates or bonds, debentures or other securities by the use of such dies. Share certificates or bonds, debentures or other securities to which the seal has been so impressed are for all purposes deemed to be under and to bear the seal impressed on them.

PART 25 PROHIBITIONS

25.1 Definitions

In this Article Part 25:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "designated security" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a voting security of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a security of the Company that is not a debt security and that carries a residual right to participate in the earnings of the Company or, on the liquidation or winding up of the Company, in its assets; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a security of the Company convertible, directly or indirectly, into a security described in paragraph (a) or (b);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "security" has the meaning assigned in the *Securities Act* (British Columbia);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "voting security" means a security of the Company that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) is not a debt security, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) carries a voting right either under all circumstances or under some circumstances that have occurred and are continuing.

25.2 Application

Article 25.3 does not apply to the Company if and for so long as it is a public company or a pre-existing reporting company which has the Statutory Reporting Company Provisions as part of its Articles or to which the Statutory Reporting Company Provisions apply.

25.3 Consent Required for Transfer of Shares or Designated Securities

No share or designated security may be sold, transferred or otherwise disposed of without the consent of the directors and the directors are not required to give any reason for refusing to consent to any such sale, transfer or other disposition.

## Exhibit 4.1

**Exhibit 4.1**

**FORT TECHNOLOGY INC.**

(the "**Company**")

**Fixed Equity Incentive Plan <br> Dated for Reference July 21, 2025**

**ARTICLE 1 <br> PURPOSE**

1.1 Purpose

The purpose of this Plan is to advance the interests of the Company by encouraging equity participation in the Company by Participants through the acquisition of Shares of the Company. It is the intention of the Company that this Plan will at all times be in compliance with the policies of the Exchange and any inconsistencies between this Plan and policies of the Exchange will be resolved in favour of the latter.

**ARTICLE 2<br> INTERPRETATION**

2.1 Definitions

When used herein, unless the context otherwise requires, the following terms have the indicated meanings, respectively:

"**Affiliate**" means any entity that is an "affiliate" for the purposes of National Instrument 45-106 – *Prospectus Exemptions*, as amended from time to time;

"**Associate**" has the meaning set forth in the Securities Act;

"**Award**" means any Option, RSU, PSU, DSU or SAR granted under this Plan which may be denominated or settled in Shares or cash;

"**Award Agreement**" means a signed, written agreement between a Participant and the Company, in the form or any one of the forms approved by the Plan Administrator, evidencing the terms and conditions on which an Award has been granted under this Plan (including written or other applicable employment agreements) and which need not be identical to any other such agreements;

"**Blackout Period**" means an interval of time formally imposed by the Company during which one or more Participants is prohibited from trading any securities of the Company as a result of the bona fide existence of undisclosed Material Information from time to time, including pursuant to the Company's insider trading policy and/or applicable laws;

"**Board**" means the board of directors of the Company or any committee thereof duly empowered or authorized to grant Awards under this Plan as it may be constituted from time to time;

"**Business Day**" means a day, other than a Saturday or Sunday, on which the principal commercial banks in the City of Vancouver, British Columbia are open for commercial business during normal banking hours;

"**Canadian Taxpayer**" means a Participant that is resident of Canada for purposes of the Tax Act;

"**Cash Fees**" has the meaning set forth in Subsection 7.1(a);

"**Cashless Exercise**" has the meaning set forth in Subsection 4.6(b);

"**Cause**" means, with respect to a particular Participant:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "cause" (or any similar term) as such term is defined in the employment or other written agreement
between the Company or a subsidiary of the Company and the Employee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the event there is no written or other applicable employment or other agreement between the Company
or a subsidiary of the Company or "cause" (or any similar term) is not defined in such agreement, "cause" as such
term is defined in the Award Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in the event neither (a) nor (b) apply, then "cause" as such term is defined by applicable
law or, if not so defined, such term shall refer to circumstances where (i) an employer may terminate an individual's employment
without notice or pay in lieu thereof or other damages, or (ii) the Company or any subsidiary thereof may terminate the Participant's
contract without notice or without pay in lieu thereof or other termination fee or damages, except, in each case, to the extent required
under ESL, and provided that the failure by a Participant to meet performance targets or similar measures shall not, in and of itself,
constitute cause for purposes of such termination of employment or contract;

"**Change in Control**" means the occurrence of any one or more of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any transaction at any time and by whatever means pursuant to which any Person or any group of two (2)
or more Persons acting jointly or in concert (other than the Company or a subsidiary of the Company) hereafter acquires the direct or
indirect "beneficial ownership" (as determined pursuant to the Securities Act) of, or acquires the right to exercise Control
or direction over, securities of the Company representing more than 50% of the total voting power represented by the then issued and outstanding
voting securities of the Company, including, without limitation, as a result of a take- over bid, an exchange of securities, an amalgamation
of the Company with any other entity, an arrangement, a capital reorganization or any other business combination or reorganization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the sale, assignment or other transfer of all or substantially all of the consolidated assets of the Company
to a Person other than an Affiliate of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the dissolution or liquidation of the Company, other than in connection with the distribution of assets
of the Company to one (1) or more Persons which were Affiliates of the Company prior to such event; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the occurrence of a transaction requiring approval of the Company's shareholders whereby the Company
is acquired through consolidation, merger, exchange of securities, purchase of assets, amalgamation, statutory arrangement or otherwise
by any other Person (other than a short form amalgamation or exchange of securities with a subsidiary of the Company),

provided that, notwithstanding clauses (a), (b), (c) and (d) above, a Change in Control shall be deemed not to have occurred if immediately following the transaction set forth in clauses (a), (b), (c) or (d) above, the holders of securities of the Company that immediately prior to the consummation of such transaction represented more than 50% of the combined voting power of the then outstanding securities eligible to vote for the election of directors of the Company hold (x) securities of the entity resulting from such transaction (including, for greater certainty, the Person succeeding to assets of the Company in a transaction contemplated in clause (b) above) (the "**Surviving Entity**") that represent more than 50% of the combined voting power of the then outstanding securities eligible to vote for the election of directors or trustees ("**voting power**") of the Surviving Entity, or (y) if applicable, securities of the entity that directly or indirectly has beneficial ownership of 100% of the securities eligible to elect directors or trustees of the Surviving Entity (the "**Parent Entity**") that represent more than 50% of the combined voting power of the then outstanding securities eligible to vote for the election of directors or trustees of the Parent Entity, (any such transaction which satisfies all of the criteria specified above being referred to as a "**Non-Qualifying Transaction**" and, following the Non-Qualifying Transaction, references in this definition of "Change in Control" to the "Company" shall mean and refer to the Parent Entity (or, if there is no Parent Entity, the Surviving Entity) and, if such entity is a company or a trust, references to the "Board" shall mean and refer to the board of directors or trustees, as applicable, of such entity).

"**Committee**" has the meaning set forth in Section 3.2(b);

"**Consultant**" has the meaning set forth in Policy 4.4;

"**Control**" means the relationship whereby a Person is considered to be "controlled" by a Person if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) when applied to the relationship between a Person and a corporation, the beneficial ownership by that
Person, directly or indirectly, of voting securities or other interests in such corporation entitling the holder to exercise control and
direction in fact over the activities of such corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) when applied to the relationship between a Person and a partnership, limited partnership, trust or joint
venture, means the contractual right to direct the affairs of the partnership, limited partnership, trust or joint venture; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) when applied in relation to a trust, the beneficial ownership at the relevant time of more than 50% of
the property settled under the trust, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the words "Controlled by", "Controlling" and similar words have corresponding
meanings; provided that a Person who controls a corporation, partnership, limited partnership or joint venture will be deemed to Control
a corporation, partnership, limited partnership, trust or joint venture which is Controlled by such Person and so on;

"**Company**" means Fort Technology Inc., a corporation duly incorporated under the laws of the Province of British Columbia, and its Affiliates, if any, and as the context requires, and includes any successor or assignee entity or entities into which the Company may be merged, changed, or consolidated; any entity for whose securities the securities of the Company shall be exchanged; and any assignee of or successor to substantially all of the assets of the Company;

"**Date of Grant**" means, for any Award, the date specified by the Plan Administrator at the time it grants the Award or if no such date is specified, the date upon which the Award was granted;

"**Deferred Share Unit**" or "**DSU**" means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Company in accordance with Article 7;

"**Director**" means a director of the Company or a subsidiary of the Company who is not an Employee;

"**Disabled**" or "**Disability**" means, with respect to a particular Participant:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "disabled" or "disability" (or any similar terms) as such terms are defined in
the employment or other written agreement between the Company or a subsidiary of the Company and the Participant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the event there is no written or other applicable employment or other agreement between the Company
or a subsidiary of the Company, or "disabled" or "disability" (or any similar terms) are not defined in such agreement,
"disabled" or "disability" as such term are defined in the Award Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in the event neither (a) or (b) apply, then the incapacity or inability of the Participant, by reason
of mental or physical incapacity, disability, illness or disease (as determined by a legally qualified medical practitioner or by a court)
that prevents the Participant from carrying out his or her normal and essential duties as an Employee, Director or Consultant for a continuous
period of six months or for any cumulative period of 180 days in any consecutive twelve month period and is expected to continue, the
foregoing subject to and as determined in accordance with procedures established by the Plan Administrator for purposes of this Plan;

"**Discounted Market Price**" has the meaning set forth in Policy 1.1;

"**Effective Date**" means the effective date of this Plan, being July 21, 2025;

"**Elected Amount**" has the meaning set forth in Subsection 7.1(a);

"**Electing Person**" means a Participant who is, on the applicable Election Date, designated by the Plan Administrator as an Electing Person pursuant to this Plan;

"**Election Date**" means the date on which the Electing Person files an Election Notice in accordance with Subsection 7.1(b);

"**Election Notice**" has the meaning set forth in Subsection 7.1(b);

"**Employee**" has the meaning set forth in Policy 4.4;

"**ESL**" means the employment standards legislation, as amended or replaced, applicable to a Participant who is an Employee or Officer;

"**Exchange**" means the TSXV and any other exchange on which the Shares are or may be listed from time to time;

"**Exercise Notice**" means a notice in writing in the form of Schedule A hereto, signed by a Participant and stating the Participant's intention to exercise a particular Option;

"**Exercise Price**" means the price at which an Option Share may be purchased pursuant to the exercise of an Option;

"**Expiry Date**" means, in respect of Options, the expiry date specified in the Award Agreement for an Option (which shall not be later than the tenth anniversary of the Date of Grant) or, if not so specified, means the tenth anniversary of the Date of Grant;

"**Insider**" means an "insider" as defined in the rules of the Exchange from time to time;

"**Investor Relations Service Provider**" has the meaning ascribed to such term in Policy 4.4;

"**Market Price**" at any date in respect of the Shares shall be the volume weighted average trading price of the Shares on the Exchange, for the five (5) trading days immediately preceding the Date of Grant (or, if such Shares are not then listed and posted for trading on the Exchange, on such stock exchange on which the Shares are listed and posted for trading as may be selected for such purpose by the Board). In the event that such Shares are not listed and posted for trading on any Exchange, the Market Price shall be the fair market value of such Shares as determined by the Board in its sole discretion;

"**Material Information**" has the meaning set forth in Policy 1.1;

"**Net Exercise**" has the meaning set forth in Subsection 4.6(b);

"**Net Exercise Notice**" has the meaning set forth in Subsection 4.6(b);

"**Officer**" means an Employee who is considered by the Company as an officer of the Company or a subsidiary of the Company;

"**Option**" means a right to purchase Shares under Article 4 of this Plan that is non-assignable and non-transferable, unless otherwise approved by the Plan Administrator;

"**Option Shares**" means Shares issuable by the Company upon the exercise of outstanding Options;

"**Participant**" means a Director, Officer, Employee or Consultant to whom an Award has been granted under this Plan;

"**Participant's Employer**" means with respect to a Participant that is or was an Employee, the Company or such subsidiary of the Company as is or, if the Participant has ceased to be employed by the Company or such subsidiary of the Company, was the Participant's Employer;

"**Performance Goals**" means performance goals expressed in terms of attaining a specified level of the particular criteria or the attainment of a percentage increase or decrease in the particular criteria, and may be applied to one or more of the Company, a subsidiary of the Company, a division of the Company or a subsidiary of the Company, or an individual, or may be applied to the performance of the Company or a subsidiary of the Company relative to a market index, a group of other companies or a combination thereof, or on any other basis, all as determined by the Plan Administrator in its discretion;

"**Performance Share Unit**" or "**PSU**" means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Company in accordance with Article 6;

"**Person**" means an individual, sole proprietorship, partnership, unincorporated association, unincorporated syndicate, unincorporated organization, trust, body corporate, and a natural person in his or her capacity as trustee, executor, administrator or other legal representative;

"**Plan**" means this Equity Incentive Plan, as may be amended from time to time;

"**Plan Administrator**" means the Person or Persons determined by the Board, which will initially be the Board, or if the administration of this Plan has been delegated by the Board to the Committee pursuant to Section 3.2, the Committee;

"**Policy 1.1**" means the TSXV's Policy 1.1 – *Interpretation* as the same may be amended from time to time;

"**Policy 4.4**" means the TSXV's Policy 4.4 – *Security Based Compensation* as the same may be amended from time to time;

"**PSU Service Year**" has the meaning set forth in Section 6.1;

"**Restricted Share Unit**" or "**RSU**" means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Company in accordance with Article 5;

"**Retirement**" means, with respect to a particular Participant:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "retirement" (or any similar term) as such term is defined in the employment or other written
agreement between the Company or a subsidiary of the Company and the Participant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the event there is no written or other applicable employment or other agreement between the Company
or a subsidiary of the Company, or "retirement" is not defined in such agreement, "retirement" as such term is
defined in the Award Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in the event neither (a) or (b) apply, the voluntary cessation of a Participant's employment with
the Company, provided that, as at the Termination Date (i) the Participant's age is at least sixty-five (65) and the Participant
has at least ten years of service with the Company or a subsidiary of the Company, (ii) the Participant is not receiving or otherwise
entitled to compensation in lieu of notice of termination, severance or similar payments, and (iii) the Participant has agreed in writing
not to work for a competitor of the Company for a period of at least two (2) years following the Termination Date;

"**RSU Service Year**" has the meaning set forth in Section 5.1;

"**SAR Exercise Price**" has the meaning set forth in Section 8.3;

"**SAR Fair Market Value**" means, for the purpose of determining the SAR Exercise Price for any SAR, unless otherwise determined by the Plan Administrator in its discretion to the extent permitted by the policies of the Exchange, the Market Price on the day immediately prior to the date such SAR is granted;

"**SAR Service Year**" has the meaning set forth in Section 8.1;

"**Securities Act**" means the *Securities Act* (British Columbia);

"**Securities Laws**" means securities legislation, securities regulation and securities rules, as amended, and the policies, notices, instruments and blanket orders in force from time to time that govern or are applicable to the Company or to which it is subject;

"**Share**" means one (1) common share in the capital of the Company as constituted on the Effective Date, or any share or shares issued in replacement of such common share in compliance with Canadian law or other applicable law, or after an adjustment contemplated by Article 11, such other shares or securities to which the holder of an Award may be entitled as a result of such adjustment;

"**Stock Appreciation Right**" or "**SAR**" means a stock appreciation right granted to a Participant pursuant to the Plan in accordance with Article 8;

"**subsidiary**" means an issuer that is Controlled directly or indirectly by another issuer and includes a subsidiary of that subsidiary, or any other entity in which the Company has an equity interest and is designated by the Plan Administrator, from time to time, for purposes of this Plan to be a subsidiary;

"**Target Performance**" has the meaning given to it in Section 6.3;

"**Tax Act**" means the *Income Tax Act* (Canada);

"**Termination Date**" means, subject to applicable law which cannot be waived:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in the case of an Employee or Officer whose employment with the Company or a subsidiary of the Company
terminates (regardless of whether the termination is lawful or unlawful, with or without Cause, and whether it is the Participant or the
Company or a subsidiary of the Company that initiates the termination), the later of: (i) if and only to the extent required to comply
with the minimum standards of ESL, the date that is the last day of any applicable minimum statutory notice period applicable to the Employee
or Officer pursuant to ESL, if any; and (ii) the date designated by the Employee or Officer and such Participant's Employer as at
the last day of such Employee's or Officer's employment, provided that, in the case of termination of employment by voluntary
resignation by the Participant, such date shall not be earlier than the date notice of resignation was given; and, for the avoidance of
any doubt, the parties intend to displace the presumption that the Participant has any entitlements in respect of the Plan or any Options,
RSUs, PSUs or DSUs during any period of reasonable notice of termination under common law or civil law in the case of either(i) or (ii), without regard to any
applicable period of reasonable notice or contractual notice to which the Participant may claim to be entitled under common law, civil
law or pursuant to contract in respect of a period that follows the last day that the Participant actually and actively provides services
to the Company or a subsidiary of the Company, as specified in the notice of termination provided by the Employee or Officer or the Participant's
Employer, as the case may be;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the case of a Consultant whose agreement or arrangement with the Company or a subsidiary of the Company
terminates, (i) the date designated by the Company or the subsidiary of the Company, as the "Termination Date" (or similar
term) or expiry date in a written agreement between the Consultant and the Company or a subsidiary of the Company, or (ii) if no such
written agreement exists, the date designated by the Company or a subsidiary of the Company, as the case may be, on which the Consultant
ceases to be a Consultant or a service provider to the Company or the subsidiary of the Company, as the case may be, or on which the Participant's
agreement or arrangement is terminated, provided
that in the case of voluntary termination by the Participant of the Participant's consulting agreement or other written arrangement,
such date shall not be earlier than the date notice of voluntary termination was given; in any event, the "Termination Date"
shall be determined without including any period of notice that the Company or the subsidiary of the Company (as the case may be) may
be required by law to provide to the Participant or any pay in lieu of notice of termination, termination fees or other damages paid or
payable to the Participant; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in the case of a Director, the date such individual ceases to be a Director, unless the individual continues
to be a Participant in another capacity.

"**TSXV**" means the TSX Venture Exchange;

"**U.S.**" or "**United States**" means the United States of America, its territories and possessions, any State of the United States, and the District of Columbia;

"**U.S. Securities Act**" means the United States *Securities Act of 1933*, as may be amended and the rules and regulations promulgated thereunder; and

"**VWAP**" mean the volume weighted average trading price of the Shares on the Exchange calculated by dividing the total value by the total volume of such securities traded for the five trading days immediately preceding the applicable date.

2.2 Interpretation

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Whenever the Plan Administrator exercises discretion in the administration of this Plan, the term "discretion"
means the sole and absolute discretion of the Plan Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As used herein, the terms "Article", "Section", "Subsection" and "clause"
mean and refer to the specified Article, Section, Subsection and clause of this Plan, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Words importing the singular include the plural and *vice versa* and words importing any gender include
any other gender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Unless otherwise specified, time periods within or following which any payment is to be made or act is
to be done shall be calculated by excluding the day on which the period begins, including the day on which the period ends, and abridging
the period to the immediately preceding Business Day in the event that the last day of the period is not a Business Day. In the event
an action is required to be taken or a payment is required to be made on a day which is not a Business Day such action shall be taken
or such payment shall be made by the immediately preceding Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Unless otherwise specified, all references to money amounts are to Canadian currency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The headings used herein are for convenience only and are not to affect the interpretation of this Plan.

**ARTICLE 3<br> ADMINISTRATION**

3.1 Administration

Subject to the terms herein, this Plan will be administered by the Plan Administrator and the Plan Administrator has sole and complete authority, in its discretion, to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) determine the individuals to whom grants of Awards under the Plan may be made;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) make grants of Awards under the Plan relating to the issuance of Shares (including any combination of
Options, RSUs, PSUs, DSUs or SARs) in such amounts, to such Persons and, subject to the provisions of this Plan, on such terms and conditions
as it determines including without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the time or times at which Awards may be granted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the conditions under which:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) Awards may be granted to Participants; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) Awards may be forfeited to the Company,

including any conditions relating to the attainment of specified Performance Goals;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the number of Shares to be covered by any Award;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the price, if any, to be paid by a Participant in connection with the purchase of Shares covered by any Awards;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) whether restrictions or limitations are to be imposed on the Shares issuable pursuant to grants of any Award, and the nature of such
restrictions or limitations, if any; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) any acceleration of exercisability or vesting, or waiver of termination regarding any Award, based on such factors as the Plan Administrator
may determine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) establish the form or forms of Award Agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) cancel, amend, adjust or otherwise change any Award under such circumstances as the Plan Administrator
may consider appropriate in accordance with the provisions of this Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) construe and interpret this Plan and all Award Agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) adopt, amend, prescribe and rescind administrative guidelines and other rules and regulations relating
to this Plan, including rules and regulations relating to sub-plans established for the purpose of satisfying applicable foreign laws
or for qualifying for favorable tax treatment under applicable foreign laws; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) make all other determinations and take all other actions necessary or advisable for the implementation
and administration of this Plan.

3.2 Delegation to Committee

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The initial Plan Administrator shall be the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) To the extent permitted by applicable law, the Board may, from time to time, assume or delegate to any
committee of the Board (the "**Committee**") all or any of the powers conferred on the Plan Administrator pursuant to this
Plan, including the power to sub-delegate to any member(s) of the Committee or any specified officer(s) of the Company or its subsidiaries
all or any of the powers delegated by the Board. In such event, the Committee or any sub-delegate will exercise the powers delegated to
it in the manner and on the terms authorized by the delegating party.

3.3 Determinations Binding

Any decision made or action taken by the Board, the Committee or any sub-delegate to whom authority has been delegated pursuant to Section 3.2 arising out of or in connection with the administration or interpretation of this Plan is final, conclusive and binding on the Company and its subsidiaries, the affected Participant(s), their legal and personal representatives and all other Persons.

3.4 Eligibility

All *bona fide* Directors, Officers, Employees and Consultants are eligible to participate in the Plan, subject to Section 10.1(f). Participation in the Plan is voluntary and eligibility to participate does not confer upon any Director, Officer, Employee or Consultant any right to receive any grant of an Award pursuant to the Plan. The extent to which any Director, Officer, Employee or Consultant is entitled to receive a grant of an Award pursuant to the Plan will be determined in the discretion of the Plan Administrator. By his, her or its participation in the Plan, for so long as the Shares are listed and posted for trading on the TSXV, each of the Company and the Participant represents and warrants that the Participant is a *bona fide* Director, Officer, Employee and/or Consultant eligible to participate in the Plan pursuant to Policy 4.4.

3.5 Plan Administrator Requirements

Any Award granted under this Plan shall be subject to the requirement that, if at any time the Company shall determine that the listing, registration or qualification of the Shares issuable pursuant to such Award upon any securities exchange or under any Securities Laws of any jurisdiction, or the consent or approval of the Exchange and any securities commissions or similar securities regulatory bodies having jurisdiction over the Company is necessary as a condition of, or in connection with, the grant or exercise of such Award or the issuance or purchase of Shares thereunder, such Award may not be accepted or exercised, as applicable, in whole or in part unless such listing, registration, qualification, consent or approval shall have been effected or obtained on conditions acceptable to the Plan Administrator. Nothing herein shall be deemed to require the Company to apply for or to obtain such listing, registration, qualification, consent or approval. Participants shall, to the extent applicable, cooperate with the Company in complying with such legislation, rules, regulations and policies.

3.6 Total Shares Subject to Awards

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The aggregate number of Shares that may be reserved for issuance under this Plan, at any time, shall not
exceed 26,662,700.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For the avoidance of doubt, any Shares issued by the Company through the assumption or substitution of
outstanding stock options or other equity-based awards from an acquired company shall be subject to the limits on grant prescribed herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Awards that were settled in cash, cancelled, terminated, surrendered, forfeited, or expired without being
exercised or settled, and pursuant to which no securities have been issued, will continue to be issuable under the Plan.

3.7 Limits on Grants of Awards

Notwithstanding anything in this Plan, the granting of Awards shall be subject to the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) for so long as the Shares are listed and posted for trading on the TSXV, not more than two (2%) percent
of the Company's issued and outstanding Shares as of the Date of Grant may be granted to any one Consultant in any 12 month period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) for so long as the Shares are listed and posted for trading on the TSXV, not more than an aggregate of
two (2%) percent the Company's issued and outstanding Shares may be granted in aggregate to Investor Relations Service Providers
in any 12 month period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) for so long as the Shares are listed and posted for trading on the TSXV, unless the Company has obtained
disinterested shareholder approval, not more than five (5%) percent of the Company's issued and outstanding Shares as of the Date
of Grant may be issued to any one Person in any 12 month period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) for so long as the Shares are listed and posted for trading on the TSXV, unless the Company has obtained
disinterested shareholder approval, the Company shall not decrease the Exercise Price or extend the term of Options previously granted
to Insiders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) for so long as the Shares are listed and posted for trading on the TSXV, unless the Company has obtained
disinterested shareholder approval, the aggregate number of Shares issuable to Insiders (as a group) at any time under this Plan, shall
not exceed ten (10%) percent of the Company's issued and outstanding Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) for so long as the Shares are listed and posted for trading on the TSXV, unless the Company has obtained
disinterested shareholder approval, the aggregate number of Shares issuable to Insiders (as a group) within any one (1) year period under
this Plan shall not exceed ten (10%) percent of the Company's issued and outstanding Shares calculated as of the date such Award
is granted or issued to such Insider;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) for so long as the Shares are listed and posted for trading on the TSXV, no types of Awards other than
Options may be grated to Investor Relations Service Providers; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the Plan Administrator shall not grant any Awards that may be denominated or settled in Shares to residents
of the United States unless such Awards and the Shares issuable upon exercise thereof are registered under the U.S. Securities Act or
are issued in compliance with an available exemption from the registration requirements of the U.S. Securities Act.

If disinterested shareholder approval is required, the proposed grant(s) or plan must be approved by a majority of the votes cast by all shareholders at the shareholders' meeting, excluding votes attaching to shares beneficially owned by: (i) Insiders to whom options may be granted under the Plan; and (ii) Associates and Affiliates of such Insiders.

3.8 Hold Period

All Awards and any Shares issued on the exercise of Awards may be subject to and legended with a four month hold period commencing on the date the Awards were granted pursuant to the rules of the Exchange and applicable securities laws. Any Shares issued on the exercise of Awards may be subject to resale restrictions contained in National Instrument 45-102 – *Resale of Securities* which would apply to the first trade of the Shares.

3.9 Awards Granted to Corporations

Except in relation to a Consultant that is a corporation, Awards may only be granted to an individual or a corporation that is wholly-owned a Director, Officer, Employee or Consultant. For so long as the Shares are listed and posted for trading on the TSXV, if a corporation is a Participant receiving Awards, it must provide the TSXV with a completed *Certification and Undertaking Required from a Company Granted Security Based Compensation* in the form of Schedule "A" to TSXV Form 4G – *Summary Form – Security Based Compensation*. The Company must agree not to effect or permit any transfer of ownership or option of shares of the Company nor to issue further shares of any class in the Company to any other individual or entity as long as the Award remains outstanding, except with the written consent of the Exchange.

3.10 Award Agreements

Each Award under this Plan will be evidenced by an Award Agreement. Each Award Agreement will be subject to the applicable provisions of this Plan and will contain such provisions as are required by this Plan and any other provisions that the Plan Administrator may direct. Any one officer of the Company is authorized and empowered to execute and deliver, for and on behalf of the Company, an Award Agreement to each Participant granted an Award pursuant to this Plan.

3.11 Non-Transferability of Awards

Except as permitted by the Plan Administrator and to the extent that certain rights may pass to a beneficiary or legal representative upon death of a Participant, by will or as required by law, no assignment or transfer of Awards, whether voluntary, involuntary, by operation of law or otherwise, vests any interest or right in such Awards whatsoever in any assignee or transferee and immediately upon any assignment or transfer, or any attempt to make the same, such Awards will terminate and be of no further force or effect. To the extent that certain rights to exercise any portion of an outstanding Award pass to a beneficiary or legal representative upon death of a Participant, the period in which such Award can be exercised by such beneficiary or legal representative shall not exceed one year from the Participant's death.

**ARTICLE 4 <br> OPTIONS**

4.1 Granting of Options

The Plan Administrator may, from time to time, subject to the provisions of this Plan and such other terms and conditions as the Plan Administrator may prescribe, grant Options to any Director, Officer, Employee or Consultant. The terms and conditions of each Option grant shall be evidenced by an Award Agreement. Notwithstanding any of the foregoing provisions, the Plan Administrator may authorize the grant of an Option to a person not then in the employ of the Company or of its subsidiary, conditioned upon such person becoming a Director, Officer, Employee or Consultant at or prior to the Date of Grant of such Option.

4.2 Exercise Price

The Plan Administrator will establish the Exercise Price at the time each Option is granted, provided that, for so long as the Shares are listed and posted for trading on the TSXV, the Exercise Price must in all cases be not less than the Discounted Market Price on the Date of Grant.

4.3 Term of Options

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to any accelerated vesting or termination as set forth in this Plan, each Option expires on its
Expiry Date, which may not be later than the close of business ten (10) years from the Date of Grant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Upon the Expiry Date, the Options granted shall forthwith expire and terminate and be of no further force
or effect whatsoever as to such of the Shares in respect of which the Option hereby granted has not then been exercised.

4.4 Vesting

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Plan Administrator shall have the authority to determine the vesting terms applicable to grants of
Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding the foregoing, all Options granted to Investor Relations Service Providers pursuant to
this Plan shall vest and become fully exercisable as follows or as determined by the Plan Administrator when the Option is granted, but
in any event, such Options shall not vest any sooner than:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) one quarter (¼) of the Options on the date which is three (3) months from the Date of Grant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) one quarter (¼) of the Options on the date which is six (6) months from the Date of Grant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) one quarter (¼) of the Options on the date which is nine (9) months from the Date of Grant; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the final one quarter (¼) of the Options on the date which is twelve (12) months from the Date of Grant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding anything to the contrary in the Plan, no more than one quarter (¼) of such Options
granted to Investor Relations Service Providers may vest in any three month period.

4.5 Exercisability

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Once an Option becomes vested, it shall remain vested and shall be exercisable until expiration or termination
of the Option, unless otherwise specified by the Plan Administrator, or as may be otherwise set forth in any written employment agreement,
consulting agreement, Award Agreement or other written agreement between the Company or a subsidiary of the Company and the Participant.
Each vested Option may be exercised at any time or from time to time, in whole or in part, for up to the total number of Option Shares
with respect to which it is then exercisable. The Plan Administrator has the right to accelerate the date upon which any Option becomes
exercisable. Notwithstanding the foregoing, the acceleration of the date upon which any Options granted to Investor Relations Service
Providers becomes exercisable will be subject to the prior approval of the TSXV.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to the provisions of this Plan and any Award Agreement, Options shall be exercised by means of
a fully completed Exercise Notice delivered to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Plan Administrator may provide at the time of granting an Option that the exercise of that Option
is subject to restrictions, in addition to those specified in Section 4.4, such as vesting conditions relating to the attainment of specified
Performance Goals.

4.6 Payment of Exercise Price

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Unless otherwise specified by the Plan Administrator at the time of granting an Option and set forth in
the particular Award Agreement, the Exercise Notice must be accompanied by payment of the Exercise Price. The Exercise Price must be fully
paid by certified cheque, wire transfer, bank draft or money order payable to the Company or by such other means as might be specified
from time to time by the Plan Administrator, which, to the extent permitted by and otherwise subject to the rules and policies of the
Exchange, may include (i) through the Net Exercise process set out in Section 4.6(b), (ii) through the Cashless Exercise process set out
in Section 4.6(c), or (iii) by any combination thereof. The Plan Administrator may at any time or from time to time grant Options which
do not permit all of the foregoing forms of consideration to be used in payment of the Exercise Price or which otherwise restrict one
or more forms of consideration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A Participant may elect to exercise an Option without payment of the aggregate Exercise Price of the Shares
to be purchased pursuant to the exercise of the Option (a "**Net Exercise**") by delivering a net exercise notice in the
form of Schedule B hereto (the "**Net Exercise Notice**") to the Plan Administrator. Upon receipt by the Plan Administrator
of a Net Exercise Notice from a Participant, the Company shall calculate and issue to such Participant that number of Shares as is determined
by application of the following formula:

**X=[Y(A-B)]/A**

Where:

**X** = the number of Shares to be issued to the Participant upon the Net Exercise

**Y** = the number of Shares underlying the Options being exercised

**A** = the VWAP as at the date of the Net Exercise Notice, if such VWAP is greater than the Exercise Price

**B** = the Exercise Price of the Options being exercised

The Company may, but is not obligated to accept, any Net Exercise of which it receives notice. If the Company does accept such Net Exercise, no fractional Shares will be issued to any Participant or the Personal Representative of the Participant electing a Net Exercise. If the number of Shares to be issued to the Participant in the event of a Net Exercise would otherwise include a fraction of a Share, the Company will pay a cash amount to such Participant equal to (i) the fraction of a Share otherwise issuable multiplied by (ii) the value attributed to "A" in the formula set out above. For greater certainty, Options granted to Investor Relations Service Providers are not eligible for Net Exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Subject to the Company having established a program or procedure pursuant to this Section 4.6(c), a Participant
may elect to exercise such Options on a cashless basis (a "**Cashless Exercise** "). A "Cashless Exercise" means
the exercise of an Option where the Company has an arrangement with a brokerage firm pursuant to which the brokerage firm will loan money
to the Participant to purchase the Shares underlying the Option and then the brokerage firm sells a sufficient number of Shares to cover
the exercise price of the Option in order to repay the loan made to the Participant and receives an equivalent number of Shares from the
exercise of the Options as were sold to cover the loan and the Participant then receives the balance of the Shares or the cash proceeds
from the balance of the Shares. Pursuant to a Cashless Exercise, a Participant shall deliver a properly executed Exercise Notice together
with irrevocable instructions to a broker providing for assignment to the Company of the proceeds of a sale or loan with respect to some
or all of the Shares being acquired upon the exercise of the Option. The Company reserves the right, in the Company's sole and absolute
discretion, to establish, decline to approve or terminate any program or procedures for the exercise of Options by means of a Cashless
Exercise, including with respect to one or more Participants specified by the Company notwithstanding that such program or procedures
may be available to other Participants.

**ARTICLE 5 <br> RESTRICTED SHARE UNITS**

5.1 Granting of RSUs

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Plan Administrator may, from time to time, subject to the provisions of this Plan and such other terms
and conditions as the Plan Administrator may prescribe, grant RSUs to any Participant in respect of services rendered by the applicable
Participant in a taxation year (the "**RSU Service Year** "). The terms and conditions of each RSU grant may be evidenced
by an Award Agreement. Each RSU will consist of a right to receive a Share, cash payment, or a combination thereof (as provided in Section
5.4(a)), upon the settlement of such RSU.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The number of RSUs (including fractional RSUs) granted at any particular time pursuant to this Article
5 will be calculated by dividing (i) the amount of any payment that is to be paid in RSUs (including the elected amount as applicable),
as determined by the Plan Administrator, by (ii) the greater of (A) the Market Price of a Share on the Date of Grant; (B) such amount
as determined by the Plan Administrator in its discretion; and (C) for so long as the Shares are listed and posted for trading on the
TSXV, the Discounted Market Price of a Share on the Date of Grant.

5.2 RSU Account

All RSUs received by a Participant shall be credited to an account maintained for the Participant on the books of the Company, as of the Date of Grant.

5.3 Vesting of RSUs

The Plan Administrator shall have the authority to determine any vesting terms applicable to the grant of RSUs, provided that, for so long as the Shares are listed and posted for trading on the TSXV, no RSUs may vest before the date that is one year following the Date of Grant.

5.4 Settlement of RSUs

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Plan Administrator shall have the sole authority to determine the settlement terms applicable to the
grant of RSUs. Except as otherwise provided in an Award Agreement, on the settlement date for any RSU, each vested RSU shall be redeemed
for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) one (1) fully paid and non-assessable Share issued from treasury to the Participant or as the Participant may direct,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a cash payment, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a combination of Shares and cash as contemplated by paragraphs
(i) and (ii) above,

in each case as determined by the Plan Administrator in its discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any cash payments made under this Section 5.4 by the Company to a Participant in respect of RSUs to be
redeemed for cash shall be calculated by multiplying the number of RSUs to be redeemed for cash by the greater of: (i) the Market Price
per Share; and (ii) for so long as the Shares are listed and posted for trading on the TSXV, the Discounted Market Price, in each case
as at the settlement date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Payment of cash to Participants on the redemption of vested RSUs may be made through the Company's
payroll in the pay period that the settlement date falls within.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding any other terms of this Plan and except as otherwise provided in an Award Agreement, no
settlement date for any RSU shall occur, and no Share shall be issued or cash payment shall be made in respect of any RSU, under this
Section 5.4 any later than the final Business Day of the third calendar year following the applicable RSU Service Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) No RSU holder who is resident in the United States may settle RSUs for Shares unless the Shares issuable
upon settlement of the RSUs are registered under the U.S. Securities Act or are issued in compliance with an available exemption from
the registration requirements of the U.S. Securities Act.

**ARTICLE 6 <br> PERFORMANCE SHARE UNITS**

6.1 Granting of PSUs

The Plan Administrator may, from time to time, subject to the provisions of this Plan and such other terms and conditions as the Plan Administrator may prescribe, grant PSUs to any Participant in respect of services rendered by the applicable Participant in a taxation year (the "**PSU Service Year**"). The terms and conditions of each PSU grant shall be evidenced by an Award Agreement. Each PSU will consist of a right to receive a Share, cash payment, or a combination thereof (as provided in Section 6.6(a)), upon the achievement of such Performance Goals during such performance periods as the Plan Administrator shall establish.

6.2 Terms of PSUs

The Performance Goals to be achieved during any performance period, the length of any performance period, the amount of any PSUs granted, the termination of a Participant's employment and the amount of any payment or transfer to be made pursuant to any PSU will be determined by the Plan Administrator and by the other terms and conditions of any PSU, all as set forth in the applicable Award Agreement.

6.3 Performance Goals

The Plan Administrator will issue Performance Goals prior to the Date of Grant to which such Performance Goals pertain. The Performance Goals may be based upon the achievement of corporate, divisional or individual goals, and may be applied to performance relative to an index or comparator group, or on any other basis determined by the Plan Administrator. The Plan Administrator may modify the Performance Goals as necessary to align them with the Company's corporate objectives, subject to any limitations set forth in an Award Agreement or an employment or other agreement with a Participant. The Performance Goals may include a threshold level of performance below which no payment will be made (or no vesting will occur), levels of performance at which specified payments will be made (or specified vesting will occur) ("**Target Performance**"), and a maximum level of performance above which no additional payment will be made (or at which full vesting will occur), all as set forth in the applicable Award Agreement.

6.4 PSU Account

All PSUs received by a Participant shall be credited to an account maintained for the Participant on the books of the Company, as of the Date of Grant.

6.5 Vesting of PSUs

The Plan Administrator shall have the authority to determine any vesting terms applicable to the grant of PSUs, provided that, for so long as the Shares are listed and posted for trading on the TSXV, no PSUs may vest before the date that is one year following the Date of Grant.

6.6 Settlement of PSUs

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Plan Administrator shall have the authority to determine the settlement terms applicable to the grant
of PSUs. Except as otherwise provided in an Award Agreement, on the settlement date for any PSU, each vested PSU shall be redeemed for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) one fully paid and non-assessable Share issued from treasury to the Participant or as the Participant may direct;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a cash payment; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a combination of Shares and cash as contemplated by paragraphs
(i) and (ii) above,

in each case as determined by the Plan Administrator in its discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any cash payments made under this Section 6.6 by the Company to a Participant in respect of PSUs to be
redeemed for cash shall be calculated by multiplying the number of PSUs to be redeemed for cash by the greater of: (i) the Market Price
per Share; and (ii) for so long as the Shares are listed and posted for trading on the TSXV, the Discounted Market Price, in each case
as at the settlement date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Payment of cash to Participants on the redemption of vested PSUs may be made through the Company's
payroll in the pay period that the settlement date falls within.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding any other terms of this Plan and except as otherwise provided in an Award Agreement, no
settlement date for any PSU shall occur, and no Share shall be issued or cash payment shall be made in respect of any PSU, under this
Section 6.6 any later than the final Business Day of the third calendar year following the applicable PSU Service Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) No PSU holder who is resident in the United States may settle PSUs for Shares unless the Shares issuable
upon settlement of the PSUs are registered under the U.S. Securities Act or are issued in compliance with an available exemption from
the registration requirements of the U.S. Securities Act.

**ARTICLE 7<br> DEFERRED SHARE UNITS**

7.1 Granting of DSUs

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Plan Administrator may, from time to time, subject to the provisions of this Plan and such other terms
and conditions as the Plan Administrator may prescribe, determine that a portion of the compensation payable to a Participant be payable
in the form of DSUs. Additionally, subject to the prior approval of the Plan Administrator, each Electing Person is given, subject to
the conditions stated herein, the right to elect in accordance with Section 7.1(b) to participate in the grant of additional DSUs pursuant
to this Article 7. An Electing Person who elects to participate in the grant of additional DSUs pursuant to this Article 7 shall receive
their Elected Amount (as that term is defined below) in the form of DSUs. The "**Elected Amount**" shall be an amount,
as elected by the Electing Person, in accordance with applicable tax law, between 0% and 100% of any compensation that would otherwise
be paid in cash (the "**Cash Fees** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Electing Person who elects to receive their Elected Amount in the form of DSUs will be required to
file a notice of election in the form of Schedule C hereto (the "**Election Notice**") with the Chief Financial Officer
of the Company: (i) in the case of an existing Electing Person, by December 31<sup>st</sup> in the year prior to the year to which such
election is to apply (other than for compensation payable for the 2025 financial year, in which case any Electing Person shall file the
Election Notice by the date that is 30 days from the Effective Date with respect to compensation paid for services to be performed after
such date); and (ii) in the case of a newly designated Electing Person, within 30 days of such designation with respect to compensation
paid for services to be performed after such date. If no election is made within the foregoing time frames, the Electing Person shall
be deemed to have elected to be paid the entire amount of his or her Cash Fees in cash.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Subject to Subsection 7.1(d), the designation of an Electing Person under Subsection 7.1(b) shall be deemed
to apply to all Cash Fees paid subsequent to the filing of the Election Notice, and such Electing Person is not required to file another
Election Notice for subsequent calendar years.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Each Electing Person is entitled once per calendar year to terminate his or her election to receive DSUs
by filing with the Chief Financial Officer of the Company a termination notice in the form of Schedule D hereto. Such termination shall
be effective immediately upon receipt of such notice, provided that the Company has not imposed a Blackout Period. Thereafter, any portion
of such Electing Person's Cash Fees payable or paid in the same calendar year and, subject to complying with Subsection 7.1(b),
all subsequent calendar years shall be paid in cash. For greater certainty, to the extent an Electing Person terminates his or her participation
in the grant of DSUs pursuant to this Article 7, he or she shall not be entitled to elect to receive the Elected Amount, or any other
amount of his or her Cash Fees in DSUs again until the calendar year following the year in which the termination notice is delivered.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Any DSUs granted pursuant to this Article 7 prior to the delivery of a termination notice pursuant to
Section 7.1(d) shall remain in the Plan following such termination and will be redeemable only in accordance with the terms of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The number of DSUs (including fractional DSUs) granted at any particular time pursuant to this Article
7 will be calculated by dividing (i) the amount of any compensation that is to be paid in DSUs (including any Elected Amount), by (ii)
the greater of: (A) the Market Price of a Share on the Date of Grant; and (B) for so long as the Shares are listed and posted for trading
on the TSXV, the Discounted Market Price of a Share on the Date of Grant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) In addition to the foregoing, the Plan Administrator may, from time to time, subject to the provisions
of this Plan and such other terms and conditions as the Plan Administrator may prescribe, grant DSUs to any Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) For avoidance of doubt, all DSUs granted pursuant to the Plan shall be subject to the limits on grant
prescribed herein.

7.2 DSU Account

All DSUs received by a Participant (which, for greater certainty includes Electing Persons) shall be credited to an account maintained for the Participant on the books of the Company, as of the Date of Grant. The terms and conditions of each DSU grant may be evidenced by an Award Agreement.

7.3 Vesting of DSUs

The Plan Administrator shall have the authority to determine any vesting terms applicable to the grant of DSUs, provided that, for so long as the Shares are listed and posted for trading on the TSXV, no DSUs may vest before the date that is one year following the Date of Grant.

7.4 Settlement of DSUs

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) DSUs shall be settled on the date established in the Award Agreement; provided, however that if there
is no Award Agreement or the Award Agreement does not establish a date for the settlement of the DSUs, then, the settlement date shall
be the date determined by the Participant; provided that, in the case of a Participant who is a Canadian Taxpayer, the settlement date
shall be no earlier than the date on which the Participant ceases to be a Director and no later than the last Business Day of the immediately
following calendar year. On the settlement date for any DSU, each vested DSU shall be redeemed for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) one (1) fully paid and non-assessable Share issued from treasury to the Participant or as the Participant may direct;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a cash payment; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a combination of Shares and cash as contemplated by paragraphs
(i) and (ii) above, in each case as determined by the Plan Administrator in its discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any cash payments made under this Section 7.4 by the Company to a Participant in respect of DSUs to be
redeemed for cash shall be calculated by multiplying the number of DSUs to be redeemed for cash by the greater of: (i) the Market Price
per Share; and (ii) for so long as the Shares are listed and posted for trading on the TSXV, the Discounted Market Price, in each case
as at the settlement date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Payment of cash to Participants on the redemption of vested DSUs may be made through the Company's
payroll or in such other manner as determined by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) No DSU holder who is resident in the United States may settle DSUs for Shares unless the Shares issuable
upon settlement of the DSUs are registered under the U.S. Securities Act or are issued in compliance with an available exemption from
the registration requirements of the U.S. Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5 No Additional Amount or Benefit

For greater certainty, neither a Director to whom DSUs are granted nor any person with whom such Director does not deal at arm's length (for purposes of the Tax Act) shall be entitled, either immediately or in the future, either absolutely or contingently, to receive or obtain any amount or benefit granted or to be granted for the purpose of reducing the impact, in whole or in part, of any reduction in the fair market value of the Shares to which the DSUs relate.

**ARTICLE 8**

**STOCK APPRECIATION RIGHTS**

8.1 Granting of SARs

The Plan Administrator may, from time to time, subject to the provisions of this Plan and such other terms and conditions as the Plan Administrator may prescribe, grant SARs to any Participant in respect of services rendered by the applicable Participant in a taxation year (the "**SAR Service Year**"). The terms and conditions of each SAR grant shall be evidenced by an Award Agreement. Each SAR will consist of a right to receive a Share, cash payment, or a combination thereof (as provided in Section 8.4(a)), upon the achievement of such Performance Goals during such performance periods as the Plan Administrator shall establish.

8.2 Vesting of SARs

The Plan Administrator shall have the authority to determine any vesting terms applicable to the grant of SARs, provided that, for so long as the Shares are listed and posted for trading on the TSXV, no SARs may vest before the date that is one year following the Date of Grant.

8.3 SAR Exercise Price

The exercise price per Share under each SAR (the "**SAR Exercise Price**") shall be the fair market value of the Shares, expressed in terms of money, as determined by the Plan Administrator, in its sole discretion, provided that such price may not be less than the SAR Fair Market Value or such other minimum price as may be permitted under the applicable rules and regulations of all regulatory authorities to which the Company is subject, including the Exchange.

8.4 Settlement of SARs

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Plan Administrator shall have the sole authority to determine the settlement terms applicable to the
grant of SARs. Except as otherwise provided in an Award Agreement, on the settlement date for any SAR, each vested SAR shall be redeemed
for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) that number or fraction of fully paid and non-assessable Shares issued from treasury to the Participant
or as the Participant may direct as is equal to a fraction, the numerator of which is the Market Price minus the SAR Exercise Price and
the denominator of which is the Market Price,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a cash payment, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a combination of Shares and cash as contemplated by paragraphs
(i) and (ii) above,

in each case as determined by the Plan Administrator in its discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any cash payments made under this Section 8.4 by the Company to a Participant in respect of SARs to be
redeemed for cash shall be calculated by multiplying the number of Shares issuable on settlement of the SARs pursuant to Section 8.4(a)
in respect of SARs to be redeemed for cash by the greater of: (i) the Market Price per Share; and (ii) for so long as the Shares are listed
and posted for trading on the TSXV, the Discounted Market Price, in each case as at the settlement date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Payment of cash to Participants on the redemption of vested SARs may be made through the Company's
payroll in the pay period that the settlement date falls within.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding any other terms of this Plan and except as otherwise provided in an Award Agreement, no
settlement date for any SAR shall occur, and no Share shall be issued or cash payment shall be made in respect of any SAR, under this
Section 8.4 any later than the final Business Day of the third calendar year following the applicable SAR Service Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) No SAR holder who is resident in the United States may settle SARs for Shares unless the Shares issuable
upon settlement of the SARs are registered under the U.S. Securities Act or are issued in compliance with an available exemption from
the registration requirements of the U.S. Securities Act.

**ARTICLE 9<br> ADDITIONAL AWARD TERMS**

9.1 Dividend Equivalents

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Unless otherwise determined by the Plan Administrator and set forth in the particular Award
 Agreement, an Award of RSUs, PSUs, DSUs and SARs shall include the right for such RSUs, PSUs, DSUs and SARs to be credited with
 dividend equivalents in the form of additional RSUs, PSUs, DSUs and SARs, respectively, as of each dividend payment date in respect
 of which normal cash dividends are paid on Shares. Such dividend equivalents shall be computed by dividing: (a) the amount obtained
 by multiplying the amount of the dividend declared and paid per Share by the number of RSUs, PSUs, DSUs and SARs, as applicable,
 held by the Participant on the record date for the payment of such dividend, by (b) the Market Price at the close of the first
 Business Day immediately following the dividend record date, with fractions computed to three decimal places. Dividend equivalents
 credited to a Participant's account shall vest in proportion to the RSUs, PSUs, DSUs and SARs to which they relate, and shall
 be settled in accordance with Subsections 5.4,6.6,
7.4 and 8.4 respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The foregoing does not obligate the Company to declare or pay dividends on Shares and nothing in this
Plan shall be interpreted as creating such an obligation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) For avoidance of doubt, all additional RSUs, PSUs, and DSUs credited as dividend equivalents pursuant
to the Plan shall be subject to the limits on grant prescribed herein. In the event the issuance of additional RSUs, PSUs, and DSUs credited
as dividend equivalents pursuant to the Plan shall otherwise result in a breach of the terms of the Plan, the Plan Administrator shall
be entitled to make a binding determination with respect to the settlement of such dividend equivalents whether by payment of cash, in
its sole and binding discretion.

9.2 Blackout Period

If an Award expires during a routine or special trading Blackout Period, then, notwithstanding any other provision of this Plan, unless the delayed expiration would result in negative tax consequences, the Award shall expire five (5) Business Days after the Blackout Period is lifted by the Company; and provided that, (i) the Blackout Period must be deemed to have expired upon the general disclosure of the undisclosed Material Information, and (ii) the automatic extension of an Award will not be permitted where the Participant or the Company is subject to a cease trade order (or similar order under applicable securities laws) in respect of the Company's securities.

9.3 Withholding Taxes

Notwithstanding any other terms of this Plan, the granting, vesting or settlement of each Award under this Plan is subject to the condition that if at any time the Plan Administrator determines, in its discretion, that the satisfaction of withholding tax or other withholding liabilities is necessary or desirable in respect of such grant, vesting or settlement, such action is not effective unless such withholding has been effected to the satisfaction of the Plan Administrator. In such circumstances, the Plan Administrator may require that a Participant pay to the Company the minimum amount as the Company or a subsidiary of the Company is obliged to withhold or remit to the relevant taxing authority in respect of the granting, vesting or settlement of the Award. Any such additional payment is due no later than the date on which such amount with respect to the Award is required to be remitted to the relevant tax authority by the Company or a subsidiary of the Company, as the case may be. Alternatively, and subject to any requirements or limitations under applicable law, the Company or any Affiliate may (a) withhold such amount from any remuneration or other amount payable by the Company or any Affiliate to the Participant, (b) require the sale, on behalf of the applicable Participant, of a number of Shares issued upon exercise, vesting, or settlement of such Award and the remittance to the Companyof the net proceeds from such sale sufficient to satisfy such amount, or (c) enter into any other suitable arrangements for the receipt of such amount.

9.4 Recoupment

Notwithstanding any other terms of this Plan, Awards may be subject to potential cancellation, recoupment, rescission, payback or other action in accordance with the terms of any clawback, recoupment or similar policy adopted by the Company or the relevant subsidiary of the Company, or as set out in the Participant's employment agreement, consulting agreement, Award Agreement or other written agreement, or as otherwise required by law or the rules of the Exchange. The Plan Administrator may at any time waive the application of this Section 9.4 to any Participant or category of Participants.

**ARTICLE 10**

**TERMINATION OF EMPLOYMENT OR SERVICES**

10.1 Termination of Officer, Employee, Consultant or Director

Subject to Section 10.2, unless otherwise determined by the Plan Administrator or as set forth in an employment agreement, consulting agreement, Award Agreement or other written agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) where a Participant's employment, consulting or other agreement or arrangement is terminated or
the Participant ceases to hold office or his or her position, as applicable, by reason of voluntary resignation by the Participant, termination
by the Company or a subsidiary of the Company (whether such termination occurs for, or without Cause, with or without any or adequate
reasonable notice, or with or without any or adequate compensation in lieu of such reasonable notice) then, subject to applicable law
that cannot be waived by the Participant:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) each Award held by the Participant that has not vested as of the Termination Date is immediately forfeited
and cancelled as of the Termination Date for no consideration and the Participant shall not be entitled to any damages or other amounts
in respect of such cancelled Awards; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) each Award held by a Participant that has vested may, subject to Sections 5.4(d) and 6.6(d) (where applicable),
be exercised, settled or surrendered to the Company by the Participant at any time during the period that terminates on the date that
is 90 days after the Termination Date. Any Award that has not been exercised, settled or surrendered at the end of such period shall be
immediately forfeited and cancelled for no consideration and the Participant shall not be entitled to any damages or other amounts in
respect of such cancelled Awards;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) where a Participant's employment, consulting or other agreement or arrangement is terminated by
reason of the death of the Participant, then each Award held by the Participant that has not vested as of the date of the death of such
Participant shall vest on such date and may, subject to Sections 5.4(d), 6.6(d) and 8.4(d) (where applicable), be exercised, settled or
surrendered to the Company by the Participant at any time during the period that terminates on the first anniversary of the date of the
death of such Participant provided that with respect to any PSUs held by such Participant, the attainment of Performance Goals shall be
assessed on the basis of actual achievement of the Performance Goals up to the date of death of such Participant, if the applicable performance
period has been completed and the Company can determine if the Performance Goals have been attained, failing which the Company will assume
Target Performance. Any Award that has not been exercised, settled or surrendered at the end of such period shall be immediately forfeited
and cancelled for no consideration and the Participant shall not be entitled to any damages or other amounts in respect of such cancelled
Awards;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) where a Participant's employment, consulting or other agreement, or arrangement terminates on account
of him or her becoming Disabled, then any Award held by the Participant that has not vested as of the date of the Disability of such Participant
shall continue to vest for a period of twelve (12) months following the date of such Disability
in accordance with its terms and, if any such Awards vest, shall be exercised, settled or surrendered to the Company by the Participant
in accordance with this Plan; provided that with respect to any PSUs held by such Participant, the attainment of Performance Goals shall
be assessed on the basis of actual achievement of the Performance Goals up to the Termination Date, if the applicable performance period
has been completed and the Company can determine if the Performance Goals have been attained, failing which the Company will assume Target
Performance. Notwithstanding the foregoing, if, following his or her Disability, the Participant breaches the terms of any restrictive
covenant in the Participant's written or other applicable employment or other agreement with the Company or a subsidiary of the
Company, any Award held by the Participant that has not been exercised, surrendered or settled shall be immediately forfeited and cancelled
for no consideration and the Participant shall not be entitled to any damages or other amounts in respect of such cancelled Awards. For
avoidance of doubt, if any Awards have not: (i) vested; or (ii) been exercised, settled or surrendered to the Company by the Participant
in accordance with this Plan, in each case, prior to the twelve (12) month anniversary of the date of Disability, all such unvested and/or
unexercised, unsettled or unsurrendered Awards shall be immediately forfeited and cancelled for no consideration and the Participant shall
not be entitled to any damages or other amounts in respect of such cancelled Awards ;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) where a Participant's employment, consulting or other agreement or arrangement is terminated due
to Retirement, then each Award held by the Participant that has not vested as of the date of such Retirement shall continue to vest for
a period of twelve (12) months following the date of such Retirement in accordance with its terms and, if any such Awards vest, shall
be exercised, settled or surrendered to the Company by the Participant in accordance with this Plan; provided that with respect to any
PSUs held by such Participant, the attainment of Performance Goals shall be assessed on the basis of actual achievement of the Performance
Goals up to the Termination Date, if the applicable performance period has been completed and the Company can determine if the Performance
Goals have been attained, failing which the Company will assume Target Performance. Notwithstanding the foregoing, if, following his or
her Retirement, the Participant breaches the terms of any restrictive covenant in the Participant's written or other applicable
employment or other agreement with the Company or a subsidiary of the Company, any Award held by the Participant that has not been exercised,
surrendered or settled shall be immediately forfeited and cancelled for no consideration and the Participant shall not be entitled to
any damages or other amounts in respect of such cancelled Awards. For avoidance of doubt, if any Awards have not: (i) vested; or (ii)
been exercised, settled or surrendered to the Company by the Participant in accordance with this Plan, in each case, prior to the twelve
(12) month anniversary of the date of Retirement, all such unvested and/or unexercised, unsettled or unsurrendered Awards shall be immediately
forfeited and cancelled for no consideration and the Participant shall not be entitled to any damages or other amounts in respect of such
cancelled Awards;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) a Participant's eligibility to receive further grants of Awards under this Plan ceases as of the
earliest of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Termination Date; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the date of the death, Disability, Retirement or the date notice is given of the resignation of the Participant; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) notwithstanding Subsection 10.1(a), unless the Plan Administrator, in its discretion, otherwise determines,
at any time and from time to time, Awards are not affected by a change of employment or consulting agreement or arrangement, or directorship
within or among the Company or a subsidiary of the Company for so long as the Participant continues to be a Director, Officer, Employee
or Consultant, as applicable, of the Company or a subsidiary of the Company.

10.2 Discretion to Permit Acceleration

Notwithstanding the provisions of Section 10.1, the Plan Administrator may, in its discretion, at any time prior to, or following the events contemplated in such Section, or in an employment agreement, consulting agreement, Award Agreement or other written agreement between the Company or a subsidiary of the Company and the Participant, permit the acceleration of vesting of any or all Awards or waive termination of any or all Awards, all in the manner and on the terms as may be authorized by the Plan Administrator. Notwithstanding the foregoing, for so long as the Shares are listed and posted for trading on the Exchange, the Plan Administrator may only permit the acceleration of vesting Awards in compliance with Policy 4.4.

**ARTICLE 11**

<br> **EVENTS AFFECTING THE COMPANY**

11.1 General

The existence of any Awards does not affect in any way the right or power of the Company or its shareholders to make, authorize or determine any adjustment, recapitalization, reorganization or any other change in the Company's capital structure or its business, or any amalgamation, combination, arrangement, merger or consolidation involving the Company, to create or issue any bonds, debentures, Shares or other securities of the Company or to determine the rights and conditions attaching thereto, to effect the dissolution or liquidation of the Company or any sale or transfer of all or any part of its assets or business, or to effect any other corporate act or proceeding, whether of a similar character or otherwise, whether or not any such action referred to in this Article 11 would have an adverse effect on this Plan or on any Award granted hereunder.

11.2 Change in Control

Except as may be set forth in an employment agreement, consulting agreement, Award Agreement or other written agreement between the Company or a subsidiary of the Company and the Participant:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Notwithstanding anything else in this Plan or any Award Agreement, the Plan Administrator may, without
the consent of any Participant, take such steps as it deems necessary or desirable, including to cause (i) the conversion or exchange
of any outstanding Awards into or for, rights or other securities of substantially equivalent value, as determined by the Plan Administrator
in its discretion, in any entity participating in or resulting from a Change in Control; (ii) outstanding Awards to vest and become exercisable,
realizable, or payable, or restrictions applicable to an Award to lapse, in whole or in part prior to or upon consummation of such merger
or Change in Control, and, to the extent the Plan Administrator determines, terminate upon or immediately prior to the effectiveness of
such merger or Change in Control; (iii) the termination of an Award in exchange for an amount of cash and/or property, if any, equal to
the amount that would have been attained upon the exercise or settlement of such Award or realization of the Participant's rights
as of the date of the occurrence of the transaction (and, for the avoidance of doubt, if as of the date of the occurrence of the transaction
the Plan Administrator determines in good faith that no amount would have been attained upon the exercise or settlement of such Award
or realization of the Participant's rights, then such Award may be terminated by the Company without payment); (iv) the replacement
of such Award with other rights or property selected by the Board in its sole discretion; or (v) any combination of the foregoing. In
taking any of the actions permitted under this Section 11.2, the Plan Administrator will not be required to treat all Awards similarly
in the transaction. Notwithstanding the foregoing, in the case of Options held by a Canadian Taxpayer, the Plan Administrator may not
cause the Canadian Taxpayer to receive (pursuant to this Subsection (a)) any property in connection with a Change in Control other than
rights to acquire shares of a corporation or units of a "mutual fund trust" (as defined in the Tax Act), of the Company or
a "qualifying person" (as defined in the Tax Act) that does not deal at arm's length (for purposes of the Tax Act) with
the Company, as applicable, at the time such rights are issued or granted. For avoidance of doubt, for so long as the Shares are listed
and posted for trading on the Exchange, the Plan Administrator may only permit the acceleration of vesting Awards in compliance with Policy
4.4;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding Section 10.1, and except as otherwise provided in a written employment or other agreement
between the Company or a subsidiary of the Company and a Participant, if within 12 months following the completion of a transaction resulting
in a Change in Control, a Participant'semployment, consultancy or directorship is terminated by
the Company or a subsidiary of the Company without Cause:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any unvested Awards held by the Participant at the Termination Date may vest in the sole discretion of
the Plan Administrator; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any vested Awards of Participants may, subject to Sections 5.4(d), 6.6(d) and 8.4(d) (where applicable),
be exercised, settled or surrendered to the Company by such Participant at any time during the period that terminates on the date that
is 90 days after the Termination Date, with any Award that has not been exercised, settled or surrendered at the end of such period shall
be immediately forfeited and cancelled for no consideration and the Participant shall not be entitled to any damages or other amounts
in respect of such cancelled Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding Section 11.2(a) and unless otherwise determined by the Plan Administrator, if, as a result
of a Change in Control, the Shares will cease trading on an Exchange, then the Company may terminate all of the Awards, other than an
Option held by a Canadian Taxpayer for the purposes of the Tax Act, granted under this Plan at the time of and subject to the completion
of the Change in Control transaction by paying to each holder at or within a reasonable period of time following completion of such Change
in Control transaction an amount for each Award equal to the fair market value of the Award held by such Participant as determined by
the Plan Administrator, acting reasonably, at or within a reasonable period of time following completion of such Change in Control transaction.

11.3 Reorganization of Company's Capital

Should the Company effect a subdivision or consolidation of Shares or any similar capital reorganization or a payment of a stock dividend (other than a stock dividend that is in lieu of a cash dividend), or should any other change be made in the capitalization of the Company that does not constitute a Change in Control and that would warrant the amendment or replacement of any existing Awards in order to adjust the number of Shares that may be acquired on the vesting of outstanding Awards and/or the terms of any Award in order to preserve proportionately the rights and obligations of the Participants holding such Awards, the Plan Administrator will, subject to the prior approval of the Exchange, authorize such steps to be taken as it may consider to be equitable and appropriate to that end.

11.4 Other Events Affecting the Company

In the event of an amalgamation, combination, arrangement, merger or other transaction or reorganization involving the Company and occurring by exchange of Shares, by sale or lease of assets or otherwise, that does not constitute a Change in Control and that warrants the amendment or replacement of any existing Awards in order to adjust the number and/or type of Shares that may be acquired on the vesting of outstanding Awards or by reference to which such Awards may be settled (as applicable), and/or the terms of any Award in order to preserve proportionately the rights and obligations of the Participants holding such Awards, the Plan Administrator will, subject to the prior approval of the Exchange, authorize such steps to be taken as it may consider to be equitable and appropriate to that end.

11.5 Immediate Acceleration of Awards

In taking any of the steps provided in Sections 11.3 and 11.4, the Plan Administrator will not be required to treat all Awards similarly and where the Plan Administrator determines that the steps provided in Sections 11.3 and 11.4 would not preserve proportionately the rights, value and obligations of the Participants holding such Awards in the circumstances or otherwise determines that it is appropriate, the Plan Administrator may, but is not required to, permit the immediate vesting of any unvested Awards.

11.6 Issue by Company of Additional Shares

Except as expressly provided in this Article 11, neither the issue by the Company of shares of any class or securities convertible into or exchangeable for shares of any class, nor the conversion or exchange of such shares or securities,affects, and no adjustment by reason thereof is to be made with respect to the number of Shares that may be acquired as a result of a grant of Awards.

11.7 Fractions

No fractional Shares will be issued pursuant to an Award and all fractions will be rounded down to the nearest whole number of Shares. Accordingly, if, as a result of any adjustment under this Article 11, a dividend equivalent or otherwise, a Participant would become entitled to a fractional Share, the Participant has the right to acquire only the adjusted number of full Shares and no payment or other adjustment will be made with respect to the fractional Shares, which shall be disregarded.

**ARTICLE 12**

<br> **AMENDMENT, SUSPENSION OR TERMINATION OF THE PLAN**

12.1 Amendment, Suspension, or Termination of the Plan

The Plan Administrator may from time to time, subject to the approval of the Exchange and/or holders of voting shares of the Company if so required in accordance with the policies of the Exchange and/or applicable laws, amend, modify, change, suspend or terminate the Plan or any Awards granted pursuant to the Plan as it, in its discretion determines appropriate, provided, however, no such amendment, modification, change, suspension or termination of the Plan or any Awards granted hereunder may materially impair any rights of a Participant or materially increase any obligations of a Participant under the Plan without the consent of the Participant, unless the Plan Administrator determines such adjustment is required or desirable in order to comply with any applicable Securities Laws or Exchange requirements.

12.2 Shareholder Approval

Notwithstanding Section 12.1 and subject to any rules of the Exchange, approval of the holders of Shares shall be required for, *inter alia*, any amendment, modification or change that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) increases the percentage of the Company's issued and outstanding Shares from time to time that can
be reserved for issuance under the Plan, except pursuant to the provisions in the Plan which permit the Plan Administrator to make equitable
adjustments in the event of transactions affecting the Company or its capital;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) increases or removes the 10% limits on Shares issuable or issued to Insiders as set forth in Subsections
3.7(e) and 3.7(f);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) reduces the exercise price of an Award (for this purpose, a cancellation or termination of an Award of
a Participant prior to its Expiry Date for the purpose of reissuing an Award to the same Participant with a lower exercise price shall
be treated as an amendment to reduce the exercise price of an Award) except pursuant to the provisions in the Plan which permit the Plan
Administrator to make equitable adjustments in the event of transactions affecting the Company or its capital;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) extends the term of an Award beyond the original Expiry Date (except where an Expiry Date would have fallen
within a Blackout Period applicable to the Participant or within five (5) business days following the expiry of such a Blackout Period);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) permits an Award to be exercisable beyond 10 years from its Date of Grant (except where an Expiry Date
would have fallen within a Blackout Period of the Company);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) increases or removes the limits on the participation of Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) permits Awards to be transferred to a Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) changes the eligible participants of the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) is a matter expressly subject to approval of the holders of Shares pursuant to the applicable rules of
the Exchange; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) deletes or reduces the range of amendments which require approval of shareholders under this Section 12.2,

and in the case of Subsections (a), (b), (c) and (f), such approval must be obtained from disinterested shareholders of the Company.

12.3 Permitted Amendments

Without limiting the generality of Section 12.1, but subject to Section 12.2 and any rules of the Exchange, the Plan Administrator may, without shareholder approval, at any time or from time to time, amend the Plan for the purposes of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) making any amendments to the general vesting provisions of each Award provided that such amendments do
not have the effect of altering the scope, nature and intent of the amended provisions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) making any amendments to the provisions set out in Article 10, provided that, for so long as the Shares
are listed and posted for trading on the TSXV, shareholder approval shall be required for such amendments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) making any amendments to add covenants of the Company for the protection of Participants, as the case
may be, provided that the Plan Administrator shall be of the good faith opinion that such additions will not be prejudicial to the rights
or interests of the Participants and do not have the effect of altering the scope, nature and intent of the amended provisions, as the
case may be;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) making any amendments not inconsistent with the Plan as may be necessary or desirable with respect to
matters or questions which, in the good faith opinion of the Plan Administrator, having in mind the best interests of the Participants,
it may be expedient to make, including amendments that are desirable as a result of changes in law in any jurisdiction where a Participant
resides, provided that the Plan Administrator shall be of the opinion that such amendments and modifications will not be prejudicial to
the interests of the Participants and Directors and do not have the effect of altering the scope, nature and intent of the amended or
modified provisions; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) making such changes or corrections which, on the advice of counsel to the Company, are required for the
purpose of curing or correcting any ambiguity or defect or inconsistent provision or clerical omission or mistake or manifest error, provided
that the Plan Administrator shall be of the opinion that such changes or corrections will not be prejudicial to the rights and interests
of the Participants and do not have the effect of altering the scope, nature and intent of the changed or corrected provisions.

**ARTICLE 13<br> MISCELLANEOUS**

13.1 Legal Requirement

The Company is not obligated to grant any Awards, issue any Shares or other securities, make any payments or take any other action if, in the opinion of the Plan Administrator, in its discretion, such action would constitute a violation by a Participant or the Company of any provision of any applicable statutory or regulatory enactment of any government or government agency or the requirements of any Exchange upon which the Shares may then be listed.

13.2 No Other Benefit

No amount will be paid to, or in respect of, a Participant under the Plan to compensate for a downward fluctuation in the price of a Share, nor will any other form of benefit be conferred upon, or in respect of, a Participant for such purpose.

13.3 Rights of Participant

No Participant has any claim or right to be granted an Award and the granting of any Award is not to be construed as giving a Participant a right to remain as an Employee, Officer, Consultant or Director. No Participant has any rights as a shareholder of the Company in respect of Shares issuable pursuant to any Award until the allotment and issuance to such Participant, or as such Participant may direct, of certificates representing such Shares.

13.4 Corporate Action

Nothing contained in this Plan or in an Award shall be construed so as to prevent the Company from taking corporate action which is deemed by the Company to be appropriate or in its best interest, whether or not such action would have an adverse effect on this Plan or any Award.

13.5 Conflict

In the event of any conflict between the provisions of this Plan and an Award Agreement, the provisions of the Plan shall govern. In the event of any conflict between or among the provisions of this Plan or any Award Agreement, on the one hand, and a Participant's employment agreement with the Company or a subsidiary of the Company, as the case may be, on the other hand, the provisions of the Plan shall prevail.

13.6 Anti-Hedging Policy

By accepting an Award each Participant acknowledges that he or she is restricted from purchasing financial instruments such as prepaid variable forward contracts, equity swaps, collars, or units of exchange funds that are designed to hedge or offset a decrease in market value of Awards.

13.7 Participant Information

Each Participant shall provide the Company with all information (including personal information) required by the Company in order to administer the Plan. Each Participant acknowledges that information required by the Company in order to administer the Plan may be disclosed to any custodian appointed in respect of the Plan and other third parties, and may be disclosed to such persons (including persons located in jurisdictions other than the Participant's jurisdiction of residence), in connection with the administration of the Plan. Each Participant consents to such disclosure and authorizes the Company to make such disclosure on the Participant's behalf.

13.8 Participation in the Plan

The participation of any Participant in the Plan is entirely voluntary and not obligatory and shall not be interpreted as conferring upon such Participant any rights or privileges other than those rights and privileges expressly provided in the Plan. In particular, participation in the Plan does not constitute a condition of employment or engagement nor a commitment on the part of the Company to ensure the continued employment or engagement of such Participant. The Plan does not provide any guarantee against any loss which may result from fluctuations in the market value of the Shares. The Company does not assume responsibility for the income or other tax consequences for the Participants and Directors and they are advised to consult with their own tax advisors.

13.9 International Participants

With respect to Participants who reside or work outside Canada, the Plan Administrator may, in its discretion, amend, or otherwise modify, without shareholder approval, the terms of the Plan or Awards with respect to such Participantsin order to conform such terms with the provisions of local law, and the Plan Administrator may, where appropriate, establish one or more sub-plans to reflect such amended or otherwise modified provisions.

13.10 Successors and Assigns

The Plan shall be binding on all successors and assigns of the Company and its subsidiaries.

13.11 General Restrictions or Assignment

Except as required by law, the rights of a Participant under the Plan are not capable of being assigned, transferred, alienated, sold, encumbered, pledged, mortgaged or charged and are not capable of being subject to attachment or legal process for the payment of any debts or obligations of the Participant unless otherwise approved by the Plan Administrator.

13.12 Severability

The invalidity or unenforceability of any provision of the Plan shall not affect the validity or enforceability of any other provision and any invalid or unenforceable provision shall be severed from the Plan.

13.13 Rights to Compensation or Damages

The Plan displaces any and all common law and civil law rights the Participant may have or claim to have in respect of any Awards, including any right to damages. The foregoing shall apply, regardless of: (i) the reason for the termination of the Participant's employment, term of office or service arrangement; (ii) whether such termination is lawful or unlawful, with or without Cause; (iii) whether it is the Participant or the Company or a subsidiary of the Company that initiates the termination; and (iv) any fundamental changes, over time, to the terms and conditions applicable to the Participant's employment, term of office or service arrangement.

13.14 Notices

All written notices to be given by a Participant to the Company shall be delivered personally, e-mail or mail, postage prepaid, addressed as follows:

**Fort Technology Inc.**

Suite 501, 3292 Production Way,

Burnaby, British Columbia,

V5A 4R4, Canada

Attention: Chief Financial Officer

All notices to a Participant will be addressed to the principal address of the Participant on file with the Company. Either the Company or the Participant may designate a different address by written notice to the other. Such notices are deemed to be received, if delivered personally or by e-mail, on the date of delivery, and if sent by mail, on the fifth Business Day following the date of mailing. Any notice given by either the Participant or the Company is not binding on the recipient thereof until received.

13.15 Effective Date

This Plan becomes effective on a date to be determined by the Plan Administrator, subject to the approval of the shareholders of the Company.

13.16 Governing Law

This Plan and all matters to which reference is made herein shall be governed by and interpreted in accordance with the laws of the Province of British Columbia and the federal laws of Canada applicable therein, without any reference to conflicts of law rules.

13.17 Submission to Jurisdiction

The Company and each Participant irrevocably submits to the exclusive jurisdiction of the courts of competent jurisdiction in the Province of British Columbia in respect of any action or proceeding relating in any way to the Plan, including, without limitation, with respect to the grant of Awards and any issuance of Shares made in accordance with the Plan.

**SCHEDULE A** 

**FORT TECHNOLOGY INC. <br> FIXED EQUITY INCENTIVE PLAN <br> (THE "PLAN")**

ELECTION NOTICE

All capitalized terms used herein but not otherwise defined shall have the meanings ascribed to them in the Plan.

The undersigned hereby irrevocably gives notice of the exercise of the Option to acquire and hereby subscribes for (cross out inapplicable item):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all of the Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) ____________________________________of the Shares;

which are the subject of the Award Agreement.

The undersigned tenders herewith a certified cheque or bank draft (circle one) payable to the Company in an amount equal to the aggregate Exercise Price of the aforesaid Shares exercised and directs the Company to issue the certificate evidencing said Shares in the name of the undersigned to be mailed to the undersigned at the following address:

____________________________________

____________________________________

____________________________________

____________________________________

By executing this Exercise Notice, the undersigned hereby confirms that the undersigned has read the Plan and agrees to be bound by the provisions of the Plan.

---

| | |
|:---|:---|
| DATED _________________. |  |
|  | Signature of Option Holder |

---

**SCHEDULE B**

**FORT TECHNOLOGY INC. <br> FIXED EQUITY INCENTIVE PLAN <br> (THE "PLAN")**

NET EXERCISE NOTICE

All capitalized terms used herein but not otherwise defined shall have the meanings ascribed to them in the Plan.

The undersigned hereby irrevocably gives notice, pursuant to the Plan, of the exercise of the Option to acquire and hereby subscribes for (cross out inapplicable item):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all of the Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) ______________________________________of the Shares;

which are the subject of the Award Agreement.

Pursuant to Section 4.6 of the Plan and the approval of the Plan Administrator, the number of Shares to be issued in accordance with the instructions of the undersigned shall be as is determined by application of the following formula, after deduction of any income tax or other amounts required by law to be withheld:

**X=[Y(A-B)]/A**

Where:

**X** = the number of Shares to be issued to the Participant upon the Net Exercise

**Y** = the number of Shares underlying the Options being exercised

**A** = the VWAP as at the date of the Net Exercise Notice, if such VWAP is greater than the Exercise Price

**B** = the Exercise Price of the Options being exercised

No fractional Shares will be issued upon the undersigned making a Net Exercise. If the number of Shares to be issued to the Participant in the event of a Net Exercise would otherwise include a fraction of a Share, the Company will pay a cash amount to such Participant equal to (i) the fraction of a Share otherwise issuable multiplied by (ii) the value attributed to "A" in the formula set out above.

The undersigned directs the Company to issue the certificate evidencing said Shares in the name of the undersigned to be mailed to the undersigned at the following address:

____________________________________

____________________________________

____________________________________

____________________________________

By executing this Net Exercise Notice, the undersigned hereby confirms that the undersigned has read the Plan and agrees to be bound by the provisions of the Plan.

---

| | |
|:---|:---|
| DATED _________________. |  |
|  | Signature of Option Holder |

---

**SCHEDULE C**

**FORT TECHNOLOGY INC. <br> FIXED EQUITY INCENTIVE PLAN <br> (THE "PLAN")**

**ELECTION NOTICE**

All capitalized terms used herein but not otherwise defined shall have the meanings ascribed to them in the Plan.

Pursuant to the Plan, I hereby elect to participate in the grant of DSUs pursuant to Article 7 of the Plan and to receive ______% of my Cash Fees in the form of DSUs. I confirm that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) I have received and reviewed a copy of the terms of the Plan and agreed to be bound by them.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) I recognize that when DSUs credited pursuant to this election are redeemed in accordance with the terms
of the Plan, income tax and other withholdings as required will arise at that time. Upon redemption of the DSUs, the Company will make
all appropriate withholdings as required by law at that time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The value of DSUs is based on the value of the Shares of the Company and therefore is not guaranteed.

The foregoing is only a brief outline of certain key provisions of the Plan. For more complete information, reference should be made to the Plan's text.

---

| | |
|:---|:---|
| Date:_________________ | |
|  | (Name of Participant) |
|  | (Signature of Participant) |

---

**SCHEDULE D**

**FORT TECHNOLOGY INC. <br> FIXED EQUITY INCENTIVE PLAN <br> (THE "PLAN")**

**ELECTION TO TERMINATE RECEIPT OF ADDITIONAL DSUs**

All capitalized terms used herein but not otherwise defined shall have the meanings ascribed to them in the Plan.

Notwithstanding my previous election in the form of Schedule C to the Plan, I hereby elect that no portion of the Cash Fees accrued after the date hereof shall be paid in DSUs in accordance with Article 7 of the Plan.

I understand that the DSUs already granted under the Plan cannot be redeemed except in accordance with the Plan.

I confirm that I have received and reviewed a copy of the terms of the Plan and agree to be bound by them.

---

| | |
|:---|:---|
| Date:_________________ | |
|  | (Name of Participant) |
|  | (Signature of Participant) |

---

**Note**: An election to terminate receipt of additional DSUs can only be made by a Participant once in a calendar year.

## Exhibit 4.2

**Exhibit 4.2**

**FORM OF INDEMNITY AGREEMENT**

**THIS AGREEMENT** is made as of the _____ day of ______, 2026.

**BETWEEN:**

**FORT TECHNOLOGY INC.**, a corporation governed by the laws of British Columbia (the "**Company**")

- and -

____________, an individual residing in the State of ________ (the **"Indemnified Party"**)

**RECITALS:**

A. The Indemnified Party is a duly elected or appointed director or officer or service provider of the Company or of a Group Entity (as defined below);

B. the Company believes it is in the best interests of the Company to attract and retain competent persons to serve as directors, or officers or as advisors or in similar capacities, and the entering into of an agreement containing indemnification provisions of the kind contained in this Agreement is reasonable and necessary to achieving those goals;

C. the Indemnified Party is willing to act or to continue to act as a director, officer or service provider of the Company or a Group Entity, if, among other things, the Company provides the Indemnified Party with contractual assurance that the protection against personal liability contemplated in this Agreement will be available to the Indemnified Party to the fullest extent permitted by applicable law; and

E. the Company considers it desirable and in the best interests of the Company to enter into this Agreement to set out the circumstances and manner in which the Indemnified Party may be indemnified in respect of certain liabilities or expenses which the Indemnified Party may incur because of other association with the Company or Group Entity.

**NOW THEREFORE**, in consideration of the premises and the covenants and agreements herein contained, the parties agree as follows:

**ARTICLE 1**

**DEFINITIONS AND PRINCIPLES OF INTERPRETATION**

**1.01 Definitions**

Whenever used in this Agreement, the following words and terms have the meanings set out below:

"**Act**" means the *Business Corporations Act* (British Columbia), as the same exists on the date hereof or may hereafter be amended.

"**Adverse Insurance Event**" means a threatened or actual rescission, cancellation or non-renewal of any directors' and officers' liability insurance policy, a denial of coverage by the insurers for any Claims reported under any such policy or circumstances where the Board of Directors have reasonably concluded that coverage will be denied by its insurers in respect of a reported Claim.

"**Agreement**" means this agreement, and all amendments or restatements as permitted, and references to "Article" or "Section" mean the specified Article or Section of this Agreement.

"**Board of Directors**" means the duly constituted board of directors of the Company.

"**Claim**" includes any current, threatened, pending, commenced, continuing or completed action, suit, proceeding, hearing, inquiry, regulatory, investigation, arbitration or alternative dispute resolution mechanism or procedure, of any nature or kind, howsoever arising, whether civil, criminal, administrative, investigative or other, and whether arising in law, equity or under statute, rule, regulation or ordinance of any governmental or administrative body or otherwise, and whether made or commenced by the Company or any Group Entity and any appeal or appeals therefrom, in which the Indemnified Party is, has been or may be involved (including, without limitation, as a party, or otherwise) as a result of the Indemnified Party acting as a director, officer of service provider of the Company or Group Entity.

"**Losses**" includes all costs, charges, expenses, losses, damages, fees (including any legal, professional or advisory fees or disbursements reasonably incurred), liabilities amounts paid to settle or dispose of any Claim or satisfy any judgment, fines, penalties or liabilities, without limitation, and whether incurred alone or jointly with others, including any amounts which the Indemnified Party may reasonably suffer, sustain, incur or be required to pay in respect of the investigation, defence, settlement or appeal of or preparation for any Claim or in connection with any action to establish a right to indemnification under this Agreement to the fullest extent permitted by applicable law and any federal, provincial, state, local or foreign taxes imposed on the Indemnified Party as a result of the actual or deemed receipt of any payments under this Agreement. Losses shall also include a per diem calculated pursuant to Section 3.01(9) below for each day spent by the Indemnified Party dealing with, responding to or assisting the Company or Group Entity with the resolution, defence or appeal of any Claim relating to the Indemnified Party.

"**Group Entity**" means: (i) any corporation that is or was an "affiliate" or "subsidiary" (within the meaning of these terms as used in the Act) of the Company at a time the Indemnified Party is or was a director or officer of such corporation, (ii) any corporation of which the Indemnified Party is or was a director or officer at the request of the Company; or (iii) any partnership, trust, joint venture or other unincorporated entity of which the Indemnified Party is or was, or holds or held a position equivalent to that of, a director or officer, at the request of the Company.

"**Parties**" means the Company and the Indemnified Party collectively and "**Party**" means any one of them.

"**Taxes**" includes any assessment, reassessment, claim or other amount for taxes, charges, duties, levies, imposts or similar amounts, including any interest and penalties in respect thereof.

**1.02 Governing Law**

This Agreement is a contract made under and is governed by and construed in accordance with the laws of the Province of British Columbia and the federal laws of Canada applicable in the Province of British Columbia. The Parties hereby irrevocably submit and attorn to the jurisdiction of the courts of the Province of British Columbia with respect to all matters arising out of or relating to this Agreement and all matters, agreements or documents contemplated by this Agreement. The Parties hereby waive any objections they may have to the venue being in such courts including, without limitation, any claim that any such venue is in an inconvenient forum.

**ARTICLE 2 REPRESENTATIONS**

**2.01 Representations of the Company**

The Company represents and warrants to the Indemnified Party that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **Incorporation** – The Company is a corporation duly incorporated and validly existing under the laws of the Province of British Columbia.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **Due Authorization** – The Company has all necessary corporate power, authority and capacity to enter into this Agreement and to carry
out its obligations under this Agreement. The execution and delivery of this Agreement and the performance of the obligations contemplated
by this Agreement have been duly authorized by all necessary corporate action on behalf of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **No Conflict** – The Company is not a party to, bound or affected by or subject to any agreement, obligation, instrument, charter
or by-law provision, statutory law or regulation, order, judgment, decree, licence or permit which would be violated, contravened, breached
by, or under which default would occur as a result of the execution and delivery of this Agreement or the performance of any of the obligations
provided for under this Agreement.

**ARTICLE 3**

**INDEMNIFICATION BY COMPANY AND OBLIGATIONS OF INDEMNIFIED PARTY**

**3.01 Indemnification**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) **General Indemnity** – Except as prohibited under applicable law and subject to Section 3.01(4), the Company must indemnify and hold the Indemnified Party harmless, to the fullest extent permitted by applicable law, including but not limited to any indemnity available under the Act, from and against any and all Losses which the Indemnified Party may reasonably suffer, sustain, incur or be required to pay in respect of any Claim, provided that the indemnity provided for in this Section 3.01(1) will only be available if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Indemnified Party acted honestly and in good faith with a view to the best interests of the Company or Group Entity, as the case may be, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, the Indemnified Party had reasonable grounds for believing that the Indemnified Party's conduct was lawful.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) **Taxes** – For greater certainty, a Claim subject to indemnification pursuant to Article 3 of this Agreement includes, to the fullest extent permitted by applicable law, any Taxes which the Indemnified Party may be subject to or suffer or incur as a result of, in respect of, arising out of or referable to any indemnification of the Indemnified Party by the Company pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) **Right to Indemnity** – Without limiting anything in this Agreement, the Indemnified Party is entitled to an indemnity from the Company in respect of all Losses reasonably incurred by the Indemnified Party in connection with the defence of any Claim, to which the Indemnified Party is subject because of the Indemnified Party's association with the Company, if the Indemnified Party: (a) was not judged by the court or other competent authority to have committed any material fault; and (b) fulfils the conditions set out in Sections 3.01(1)(a) and 3.01(1)(b) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) **Derivative Claims** – The Company shall make application, at its expense, for the approval of a court of competent jurisdiction to advance monies to an Indemnified Party under Section 3.01(8) below, in respect of any Claim by or on behalf of the Company or Group Entity to which the Indemnified Party is made a party because of the Indemnified Party's association with the Company or Group Entity, in respect of all costs, charges, expenses and other Losses reasonably incurred by the Indemnified Party in connection with such Claim provided the Indemnified Party shall repay such funds advanced if the Indemnified Party ultimately does not fulfil the conditions set out in Section 3.01(1)(a) and 3.01(1)(b) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) **Incidental Expenses** – To the fullest extent permitted by applicable law, the Company will pay or reimburse the Indemnified Party for the Indemnified Party's reasonable and necessary travel, lodging or accommodation costs, charges or expenses paid or incurred by or on behalf of the Indemnified Party in connection with the defence by the Indemnified Party of any Claim, provided the Indemnified Party fulfills the conditions set out in Sections 3.01(1)(a) and 3.01(1)(b) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) **Specific Indemnity for Statutory Obligations** – Without limiting the generality of the preceding Sections 3.01(1) through (5) of this Agreement, the Company agrees, to the extent permitted by law, to indemnify and save the Indemnified Party harmless from and against any and all Losses arising by operation of statute and reasonably incurred by or imposed upon the Indemnified Party in relation to the affairs of the Company in the Indemnified Party's capacity as a director or officer or service provider thereof, including but not limited to all statutory obligations to creditors, employees, suppliers, contractors, subcontractors, and any government or any agency or division of any government, whether federal, provincial, state, regional or municipal, provided that the indemnity provided for in this Section 3.01(6) will only be available if the Indemnified Party fulfils the conditions in Sections 3.01(1)(a) and 3.01(1)(b) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) **Partial Indemnification** – If the Indemnified Party is determined to be entitled under any provisions of this Agreement to indemnification by the Company for some or a portion of the Losses incurred in respect of any Claim but not for the total amount thereof, the Company will nevertheless indemnify the Indemnified Party for the portion thereof to which the Indemnified Party is determined by a court of competent jurisdiction to be so entitled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) **Advance of Expenses** – Subject to Section 3.01(4) of this Agreement, the Company shall, at the request of the Indemnified Party, advance to the Indemnified Party, to the extent permitted by applicable law, sufficient funds, or arrange to pay on behalf of or reimburse the Indemnified Party for any costs, charges or expenses reasonably incurred by the Indemnified Party in investigating, defending, appealing, preparing for, providing evidence in or instructing and receiving the advice of the Indemnified Party's counsel or other professional advisors in regard to any Claim or other matter for which the Indemnified Party may be entitled to an indemnity or reimbursement hereunder, and such amounts will be treated as a non-interest bearing advance or loan to the Indemnified Party. All advances shall be made within five (5) business days of a request from the Indemnified Party. In the event it is ultimately determined by a court of competent jurisdiction that the Indemnified Party did not fulfil the conditions set out in Sections 3.01(1)(a) and 3.01(1)(b) above, such loan or advance, or the appropriate portion thereof will, be immediately repaid by the Indemnified Party to the Company and will bear interest from the date of such determination at the prime rate prescribed from time to time by the Royal Bank of Canada.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) **Per Diem Charge** – In addition to any other amount payable to an Indemnified Party under this Agreement, the Indemnified Party shall be entitled to receive from the Company a reasonable per diem payment (the "**Per Diem Charge**") for time spent with respect to any Claim for which the Indemnified Party is otherwise entitled to indemnification pursuant to any one of the foregoing provisions of Section 3.01 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) **Gross-Up –** Should any payment made pursuant to this Agreement, including the payment of insurance premiums or any payment made by an insurer under an insurance policy, be deemed to constitute a taxable benefit or otherwise be or become subject to any tax or levy, then the Company shall pay any amount received by or on behalf of the Indemnified Party, after the payment of or withholding for such tax, fully reimburses the Indemnified Party for the actual cost, expense or losses incurred by or on behalf of the Indemnified Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) **Directors and Officers Insurance**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company confirms that it has purchased directors'
and officers' liability insurance as previously approved by the board of directors of the Company covering its directors and officers
containing such customary terms and conditions and in such amounts as are available to the Company on reasonable commercial terms, having
regard to the nature and size of the business and operations of the Company from time to time, which insurance policy has been provided
to the directors and officers for their review and which remains in full force and effect on the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding the foregoing, if: (i) liability insurance
coverage for former directors and officers is no longer available on reasonable commercial grounds; or (ii) it is no longer industry
practice among responsible companies to procure liability insurance for former directors and officers and the costs to the Company to
do so would be commercially unreasonable (as determined by the Board of Directors of the Company), the Company will be relieved of its
obligation to procure or cause to be procured liability insurance coverage for the former directors and officers provided that the Company
procures, or causes to be procured, such level of insurance coverage, if any, as is available for former directors and officers at a
commercially reasonable rate and adopts comparable measures to protects its former directors and officers in the circumstances as are
adopted by other responsible companies. The onus is on the Company to establish that the circumstances described in the previous sentence
exist.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) **Deductible or Retention under Directors and Officers Insurance** – If for any reason whatsoever, any directors' and officers' liability insurer asserts that the Indemnified Party is subject to a deductible or retention under any existing or future directors' and officers' liability insurance purchased and maintained by the Company for the benefit of the Indemnified Party and the Indemnified Party's heirs and legal representatives, the Company will, to the extent permitted by applicable law, pay the deductible or retention for and on behalf of the Indemnified Party, provided that the Company is satisfied at such time that the Indemnified Party fulfils the conditions set out in Sections 3.01(1)(a) and 3.01(1)(b) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) ***Intentionally Deleted.***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) **Subrogation** – In the event of payment by the Company under this Agreement, the Company shall be subrogated to the extent of such payment to all the rights of recovery of the Indemnified Party who agrees to execute all documents and instruments reasonably required and to do all such other acts and things that may be necessary on the part of the Indemnified Party to secure such rights, including the execution of documents necessary to enable the Company to bring suit to enforce such rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) **Directors' Trust –** In the event of an Adverse Insurance Event, the Company may, at its sole discretion, create a trust for the benefit of the Indemnified Party and from time to time fund such trust in such amounts and with such security as the Company's Board of Directors may, at its sole discretion, determine to satisfy Losses reasonably anticipated or proposed to be incurred or paid from time to time until the expiration of all applicable limitation periods in connection with any Claims. The terms of any trust established pursuant hereto shall provide that upon an Adverse Insurance Event: (i) the trust shall not be revoked or the principal thereof encroached upon, without the written consent of the Indemnified Party; (ii) the trustee shall advance (solely to the extent of trust assets), within two (2) business days of a request by the Indemnified Party, all costs, charges, expenses and other Losses to the Indemnified Party (and the Indemnified Party hereby agrees to reimburse the trust under the circumstances under which the Indemnified Party would be required to reimburse the Company under this Agreement); (iii) the trustee shall promptly pay (solely to the extent of trust assets) to the Indemnified Party all amounts for which the Indemnified Party shall be entitled to indemnification pursuant to the Agreement or otherwise; and (iv) all unexpended funds in such trust shall revert to the Company upon a final determination by a court of competent jurisdiction that the Indemnified Party has been fully indemnified (or if not, entitled to be indemnified) under the terms of this Agreement as to all Claims and after the expiration of all applicable limitation periods. The trustee shall be a person or entity, and shall be appointed upon such terms as are, reasonably satisfactory to the Indemnified Party. Nothing contained in this Section 3.01(15) shall relieve the Company of any of its obligations under any other provision of this Agreement.

**3.02 Notice of Proceedings**

The Indemnified Party will, as a condition precedent to his right to be indemnified under this Agreement, give prompt notice in writing to the Company, upon being served with any statement of claim, writ, notice of motion, indictment, subpoena, investigation order or other document threatening, commencing, threatening or continuing any Claim involving the Company or the Indemnified Party which may result in a claim for indemnification under this Agreement, and the Company agrees to give the Indemnified Party prompt notice in writing, upon it being served with any statement of claim, writ, notice of motion, indictment, subpoena, investigation order or other document commencing or continuing any Claim involving the Indemnified Party. Such notice will include a description of the Claim or threatened Claim, a summary of the facts giving rise to the Claim or threatened Claim and, if possible, an estimate of any potential liability arising under the Claim or threatened Claim. Failure by either party to so notify the other of any Claim will not relieve the Company from liability under this Agreement except and only to the extent that the failure materially prejudices the Indemnified Party, the Company or Group Entity, as the case may be.

**3.03 Legal Counsel**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Subject to Section 3.01(4), after receiving written notice of any Claim or threatened Claim from the Indemnified Party, the Company may by notice in writing to the Indemnified Party, assume conduct of the defence thereof in a timely manner and retain counsel on behalf of the Indemnified Party, provided that such counsel is satisfactory to the Indemnified Party (acting reasonably), to represent the Indemnified Party in respect of the Claim; in which event, the reasonable fees and disbursements of such counsel will be paid by the Company on behalf of the Indemnified Party. On delivery of such notice by the Company, subject to Section 3.03(2) and notwithstanding any other term, the Company will not be liable to the Indemnified Party under this Agreement for any fees and disbursements of other counsel, the Indemnified Party may subsequently incur with respect to the same matter. In the event the Company assumes conduct of the defence on behalf of the Indemnified Party, the Indemnified Party hereby consents to the conduct thereof and of any action taken by the Company, in good faith, in connection therewith, and the Indemnified Party will fully cooperate in such defence including, without limitation, the provision of documents, attending examinations for discovery, making affidavits, meeting with counsel, testifying and divulging to the Company all information reasonably required to defend or prosecute the Claim.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) In connection with any Claim or other matter for which the Indemnified Party may be entitled to indemnity hereunder, the Indemnified Party will have the right to employ separate counsel of the Indemnified Party's choosing and to participate in the defence thereof but the fees and disbursements of such counsel will be at the Indemnified Party's expense unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) employment
of such other counsel has been authorized by the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) subject to Company
 agreeing to advance to the Indemnified Party sufficient funds, or arrange to pay on behalf of or reimburse the Indemnified Party for
 any costs, charges or expenses reasonably incurred by the Indemnified Party in accordance with Section 3.01(8), legal counsel for
 the Company has advised the Indemnified Party that there has been a divergence of interests between the Indemnified Party and the
 Company such that the Indemnified Party requires separate legal counsel, in which events, the reasonable fees and disbursements
of such counsel will be paid by the Company on behalf of the Indemnified Party to the fullest extent permitted by applicable law.

**3.04 No Presumption as to Absence of Good Faith**

Unless a court of competent jurisdiction otherwise has held or decided that the Indemnified Party is not entitled to be fully or partially indemnified hereunder, the determination of any Claim by judgment, order, settlement or conviction, or upon a plea of *nolo contendere* or its equivalent, will not, of itself, create any presumption for the purposes of this Agreement that the Indemnified Party is not entitled to indemnity hereunder.

**3.05 Settlement of Claim**

No admission of liability and no settlement of any Claim in a manner adverse to the Indemnified Party will be made without the consent of the Indemnified Party, acting reasonably, (unless, in the case of a settlement by the Company, such settlement (i) includes an unconditional release of the Indemnified Party from all liability arising out of such Claim and (ii) does not include a statement as to or an admission of fault, culpability or a failure to act, by or on behalf of the Indemnified Party).

**3.06 Determination of Right to Indemnification**

If the payment of an indemnity or the advancement of funds under this Agreement requires the approval of a court, under the provisions of the Act or otherwise, either the Company or the Indemnified Party may apply to a court of competent jurisdiction for an order approving such indemnity or the advancement of such funds by the Company pursuant to this Agreement.

**3.07 Other Rights and Remedies Unaffected**

The rights to indemnification and payment provided in this Agreement will not derogate from or exclude any other rights to which the Indemnified Party may be entitled under any provision of the Act or otherwise at law, the articles of the Company, any applicable policy of insurance, guarantee or third-party indemnity, any vote of shareholders of the Company, or otherwise, both as to matters arising out of the Indemnified Party's capacity as a director or officer of the Company, or as to matters arising out of any other capacity in which the Indemnified Party may act for or on behalf of the Company.

**3.08 Setoff**

The Company grants to the Indemnified Party a right to set off any amounts owing by the Company hereunder to the Indemnified Party against any amounts that the Indemnified Party may owe the Company from time to time.

**ARTICLE 4**

**MISCELLANEOUS MATTERS**

**4.01 Company and Indemnified Party to Cooperate**

The Company and the Indemnified Party will, from time to time, provide such information and cooperate with the other, as the other may reasonably request, in respect of all matters under this Agreement.

**4.02 Effective Time**

This Agreement will be deemed to have effect as and from the first date that the Indemnified Party became a director or officer or service provider of the Company.

**4.03 Insolvency**

The liability of the Company under this Agreement will not be affected, discharged, impaired, mitigated or released by reason of the discharge or release of the Indemnified Party in any bankruptcy, insolvency, receivership or other similar proceeding of creditors.

**4.04 Multiple Proceedings**

No action or proceeding brought or instituted under this Agreement and no recovery pursuant thereto will be a bar or defence to any further action or proceeding which may be brought under this Agreement.

**4.05 Benefit of the Agreement**

This Agreement will enure to the benefit of and be binding upon the respective heirs, executors, administrators, other legal representatives, successors and permitted assigns of the parties hereto. In the event that the Company proposes to: (i) amalgamate, consolidate with or merge or wind up into any other person and the Company will cease to exist as a legal entity or will not be the continuing or surviving Company or entity of such amalgamation, consolidation, merger or winding up; or (ii) transfer or dispose of all or substantially all of its properties and assets to any person or persons (including a lease, licence, long term supply agreement or other arrangement having the same economic effect as a transfer or other disposition), then in each such case the Company will ensure that proper provision is made so that the obligations of the Company set forth in this Agreement will continue in full force. In the event of: (i) any acquisition (by way of take-over bid, share exchange, purchase of shares or otherwise, and whether in a single transaction or series of related transactions) by any person, or two or more persons acting "jointly or in concert" (within the meaning of that expression as used in applicable securities laws), of beneficial ownership of fifty percent or more of the outstanding voting or equity securities of the Company entitled to vote generally in the election of directors of the Company; or (ii) a plan of arrangement, amalgamation, merger, consolidation, recapitalization, liquidation, dissolution or other business combination or reorganization or similar corporate transaction, in each case where the Company does not cease to exist as a legal entity and is not a continuing or surviving Company in such transaction, that results in the voting securities of the Company outstanding immediately prior to the consummation of such transaction no longer continuing to represent (either by remaining outstanding or by being converted into or exchanged for securities of another entity) at least fifty percent of the combined voting power of the voting securities of the Company outstanding immediately after consummation of such transaction, then in each such case the Company will use commercially reasonable efforts to ensure that proper provision will be made so that the obligations of the Company set forth in this Agreement will continue in full force.

**ARTICLE 5**

**GENERAL**

**5.01 Term**

This Agreement and any obligations hereunder will survive until six (6) years after the Indemnified Party has ceased to act as a director or officer of the Company.

**5.02 *Intentionally Deleted***

**5.03 Assignment**

Except as provided in Section 4.05, neither Party may assign this Agreement or any rights or obligations under this Agreement without the prior written consent of the other Party (which consent will not be unreasonably withheld).

**5.04 Amendments and Waivers**

No supplement, modification, amendment or waiver or termination of this Agreement and, unless otherwise specified, no consent or approval by any Party, will be binding unless executed in writing by the Party to be bound thereby. For greater certainty, the rights of the Indemnified Party under this Agreement will not be prejudiced or impaired by permitting or consenting to any assignment in bankruptcy, receivership, insolvency or any other creditor's proceedings of or against the Company or by the winding-up or dissolution of the Company.

**5.05 Severability**

Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction will not invalidate the remaining provisions hereof and any such prohibition or unenforceability in any jurisdiction will not invalidate or render unenforceable such provision in any other jurisdiction.

**5.06 Mandatory Obligation to Indemnify**

Nothing in this Agreement shall in any way adversely affect or diminish the obligation of the Company to indemnify the Indemnified Party pursuant to section 161 of the Act.

**5.07 Notices**

Any notice, consent or approval required or permitted to be given in connection with this Agreement (in this Section referred to as a "**Notice**") will be in writing and will be sufficiently given if delivered (whether in person, by courier service or other personal method of delivery), or if transmitted by facsimile or e-mail:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in the case of a Notice to the Indemnified Party at:

[●]

[●]

[●]

Email: [●]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the case of a Notice to the Company at:

Fort Technology Inc.

3292 Production Way, Suite 501

Burnaby, British Columbia V5A 4R4

Email: [●]

Any Notice delivered or transmitted to a Party as provided above will be deemed to have been given and received on the day it is delivered or transmitted, provided that it is delivered or transmitted on a Business Day prior to 5:00 p.m. local time in the place of delivery or receipt. However, if the Notice is delivered or transmitted after 5:00 p.m. local time or if such day is not a Business Day then the Notice will be deemed to have been given and received on the next Business Day.

Any Party may, from time to time, change its address by giving Notice to the other Party in accordance with the provisions of this Section.

**5.08 Further Assurances**

The Company and the Indemnified Party will, with reasonable diligence, do all such further acts, deeds or things and execute and deliver all such further documents as may be necessary or advisable for the purpose of assuring and conferring on the Indemnified Party the rights hereby created or intended, and of giving effect to and carrying out intention or facilitating the performance of the terms of this Agreement or to evidence any loan or advance made pursuant to Section 3.01(4) hereof.

**5.09 Execution and Delivery**

This Agreement may be executed by the Parties in counterparts and may be executed and delivered by facsimile and all such counterparts and facsimiles together will constitute one and the same agreement.

**IN WITNESS WHEREOF** the Parties have executed this Agreement.

---

| | |
|:---|:---|
| **FORT TECHNOLOGY INC.** | **FORT TECHNOLOGY INC.** |
| By: |  |
|  | Authorized Officer |

---

**INDEMNIFIED PARTY**

## Exhibit 4.3

**Exhibit 4.3**

**Certain confidential information contained in this document, marked by brackets and asterisk, has been omitted pursuant to Item 601(b)(10)(iv) of Regulation S-K, because it (i) is not material and (ii) would be competitively harmful if publicly disclosed**

**IMPACT ACQUISITIONS CORP.**

and

**JEFFS BRANDS LTD**

and

**FORT PRODUCTS LIMITED**

**SHARE PURCHASE AGREEMENT**

**FEBRUARY 6, 2025**

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
| **PART 1 INTERPRETATION** | **PART 1 INTERPRETATION** | **1** |
| 1.1 | Definitions | 1 |
| 1.2 | Schedules | 7 |
| 1.3 | Interpretation | 7 |
| 1.4 | Governing Law | 8 |
| 1.5 | Severability | 8 |
| 1.6 | Entire Agreement | 8 |
| 1.7 | Waiver | 9 |
| **PART 2 PURCHASE AND SALE AND RELATED TRANSACTIONS** | **PART 2 PURCHASE AND SALE AND RELATED TRANSACTIONS** | **9** |
| 2.1 | Purchase | 9 |
| 2.2 | Retention of Liabilities | 9 |
| 2.3 | Consideration | 9 |
| 2.4 | Reconstitution of Board and Management | 10 |
| 2.5 | Name Change | 10 |
| 2.6 | Finders' Fees | 10 |
| **PART 3 REPRESENTATIONS AND WARRANTIES OF THE VENDOR** | **PART 3 REPRESENTATIONS AND WARRANTIES OF THE VENDOR** | **11** |
| 3.1 | Representations and Warranties of the Vendor and the Target | 11 |
| 3.2 | Survival of Representations and Warranties of the Vendor and Target | 15 |
| 3.3 | Reliance | 16 |
| **PART 4 REPRESENTATIONS AND WARRANTIES OF THE PURCHASER** | **PART 4 REPRESENTATIONS AND WARRANTIES OF THE PURCHASER** | **16** |
| 4.1 | Representations and Warranties of the Purchaser | 16 |
| 4.2 | Fees | 20 |
| 4.3 | Other Representations | 20 |
| 4.4 | Survival | 20 |
| 4.5 | Reliance | 20 |
| **PART 5 COVENANTS** | **PART 5 COVENANTS** | **21** |
| 5.1 | Covenants of the Vendor and Target | 21 |
| 5.2 | Covenants of the Purchaser | 23 |
| 5.3 | Mutual Covenants | 26 |
| 5.4 | Alternative Transaction | 27 |
| 5.5 | Facilitation of Transaction | 27 |
| 5.6 | Confidentiality | 28 |
| 5.7 | Public Announcements | 29 |
| 5.8 | Notification of Certain Matters | 29 |
| 5.9 | Consents | 29 |
| 5.10 | Target Financial Statements | 30 |
| **PART 6 CLOSING** | **PART 6 CLOSING** | **30** |
| 6.1 | Closing Date and Location | 30 |
| 6.2 | Closing | 30 |
| 6.3 | Deliveries by Purchaser at Closing | 31 |
| 6.4 | Deliveries by Vendor at Closing | 32 |
| **PART 7 MUTUAL CONDITIONS PRECEDENT** | **PART 7 MUTUAL CONDITIONS PRECEDENT** | **32** |
| 7.1 | Mutual Conditions Precedent | 32 |
| 7.2 | Notice and Cure Provisions | 33 |

---

- i -

---

| | | | |
|:---|:---|:---|:---|
| **PART 8 PURCHASER'S CONDITIONS PRECEDENT** | **PART 8 PURCHASER'S CONDITIONS PRECEDENT** | **PART 8 PURCHASER'S CONDITIONS PRECEDENT** | **33** |
|  | 8.1 | Purchaser's Conditions | 33 |
|  | 8.2 | Waiver | 34 |
| **PART 9 VENDOR'S CONDITIONS PRECEDENT** | **PART 9 VENDOR'S CONDITIONS PRECEDENT** | **PART 9 VENDOR'S CONDITIONS PRECEDENT** | **34** |
|  | 9.1 | Target's and Vendor's Conditions | 34 |
|  | 9.2 | Waiver | 35 |
| **PART 10 FURTHER ASSURANCES** | **PART 10 FURTHER ASSURANCES** | **PART 10 FURTHER ASSURANCES** | **35** |
|  | 10.1 | Further Assurances | 35 |
| **PART 11 INDEMNITIES** | **PART 11 INDEMNITIES** | **PART 11 INDEMNITIES** | **35** |
|  | 11.1 | Indemnification of Purchaser by Vendor | 35 |
|  | 11.2 | Claims Under Vendor's Indemnities | 36 |
|  | 11.3 | Indemnification Limitations | 37 |
|  | 11.4 | Indemnification of Vendor by Purchaser | 37 |
|  | 11.5 | Claims Under Purchaser's Indemnities | 37 |
|  | 11.6 | Survival of Indemnities | 38 |
|  | 11.7 | Indemnification Limitations | 38 |
| **PART 12 TERMINATION, AMENDMENT AND WAIVER** | **PART 12 TERMINATION, AMENDMENT AND WAIVER** | **PART 12 TERMINATION, AMENDMENT AND WAIVER** | **39** |
|  | 12.1 | Termination by the Purchaser | 39 |
|  | 12.2 | Termination by the Vendor | 39 |
|  | 12.3 | Effect of Termination | 39 |
|  | 12.4 | Amendment | 40 |
|  | 12.5 | Extension and Waiver | 40 |
| **PART 13 GENERAL** | **PART 13 GENERAL** | **PART 13 GENERAL** | **40** |
|  | 13.1 | Expenses | 40 |
|  | 13.2 | Arbitration | 40 |
|  | 13.3 | Time | 40 |
|  | 13.4 | Notices | 41 |
|  | 13.5 | Further Assurances | 42 |
|  | 13.6 | Enurement | 42 |
|  | 13.7 | Assignment | 42 |
|  | 13.8 | Counterparts | 42 |
|  | 13.9 | Severability | 42 |
|  | 13.10 | Entire Understanding | 42 |
|  | 13.11 | Binding Effect; No Third Party Beneficiaries | 42 |
|  | 13.12 | Language | 42 |
| **SCHEDULE A CONTRACTS** | **SCHEDULE A CONTRACTS** | **SCHEDULE A CONTRACTS** | **A-1** |
| **SCHEDULE B FORM OF CONTINGENT RIGHT CERTIFICATE** | **SCHEDULE B FORM OF CONTINGENT RIGHT CERTIFICATE** | **SCHEDULE B FORM OF CONTINGENT RIGHT CERTIFICATE** | **B-1** |
| **1.** | **INTERPRETATION** | **INTERPRETATION** | **B-1** |
|  | 1.1 | Definitions | B-1 |
|  | 1.2 | Currency | B-2 |
|  | 1.3 | Interpretation Not Affected by Headings, etc | B-2 |
|  | 1.4 | Number, etc | B-2 |
|  | 1.5 | Date for Any Action | B-2 |
| **2.** | **CONTINGENT RIGHTS** | **CONTINGENT RIGHTS** | **B-2** |
|  | 2.1 | Terms of Contingent Rights | B-2 |
|  | 2.2 | Holder of Contingent Right not a Shareholder | B-3 |
|  | 2.3 | Contingent Rights to Rank Pari Passu | B-3 |
|  | 2.4 | Transfer and Ownership of Contingent Rights | B-3 |
|  | 2.5 | Ownership of Rights | B-3 |
|  | 2.6 | Issue in Substitution for Contingent Right Certificates Lost, etc | B-3 |

---

- ii -

---

| | | | |
|:---|:---|:---|:---|
| **3.** | **ISSUANCE OF CONTINGENT RIGHT SHARES** | **ISSUANCE OF CONTINGENT RIGHT SHARES** | **B-4** |
|  | 3.1 | Achievement Certificate | B-4 |
|  | 3.2 | Payment Procedure | B-4 |
|  | 3.3 | Payment Mechanism | B-4 |
|  | 3.4 | Cancellation of Rights | B-4 |
| **4.** | **WITHHOLDING TAX** | **WITHHOLDING TAX** | **B-4** |
|  | 4.1 | Withholding Taxes | B-4 |
| **5.** | **ADJUSTMENT OF NUMBER OF CONTINGENT RIGHT SHARES AND EXERCISE PRICE** | **ADJUSTMENT OF NUMBER OF CONTINGENT RIGHT SHARES AND EXERCISE PRICE** | **B-**5** |
|  | 5.1 | Definitions | B-5 |
|  | 5.2 | Adjustment | B-5 |
|  | 5.3 | Adjustment Rules | B-7 |
|  | 5.4 | Notice of Certain Events | B-8 |
| **6.** | **RIGHTS OF THE COMPANY AND COVENANTS OF THE COMPANY** | **RIGHTS OF THE COMPANY AND COVENANTS OF THE COMPANY** | **B-8** |
|  | 6.1 | General Covenants | B-8 |
|  | 6.2 | Enforceability of Certificate | B-9 |
| **7.** | **DISPUTE MECHANISM** | **DISPUTE MECHANISM** | **B-**9** |
|  | 7.1 | Disputed Matters | B-9 |
| **8.** | **GENERAL** | **GENERAL** | **B-**9** |
|  | 8.1 | Notices | B-9 |
|  | 8.2 | Provisions of this Agreement and Contingent Rights for the Sole Benefit of Parties and Holder. | B-10 |
|  | 8.3 | Governing Law | B-10 |
|  | 8.4 | Entire Agreement | B-10 |
|  | 8.5 | Further Assurances | B-10 |
|  | 8.6 | Waiver | B-10 |
|  | 8.7 | Enurement | B-10 |
|  | 8.8 | Severability | B-10 |

---

- iii -

**SHARE PURCHASE AGREEMENT**

**THIS AGREEMENT** is made as of the 6th day of February, 2025

**BETWEEN:**

**IMPACT ACQUISITION CORP.**, a corporation existing under the Laws of the Province of British Columbia

("**Purchaser**")

**AND:**

**JEFFS BRANDS LTD**, a company existing under the Laws of Israel

("**Vendor**")

**AND:**

**FORT PRODUCTS LIMITED**, a company existing under the Laws of England and Wales

("**Target**")

**WHEREAS:**

A. the Vendor owns the Target Shares (as defined herein);

B. the Vendor wishes to sell, and the Purchaser wishes to purchase all of the Vendor's interest in Target Shares on the terms and
conditions set forth herein (the "**Transaction** "); and

C. the completion of this Agreement is intended to, among other things, constitute a "qualifying transaction" of the Purchaser
pursuant to the policies of the TSXV.

**NOW THEREFORE THIS AGREEMENT WITNESSES** that in consideration of the premises and mutual agreements and covenants herein contained, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties covenant and agree as follows:

**PART 1**

**INTERPRETATION**

1.1 Definitions

In this Agreement, the words defined above have the meanings ascribed thereto and the following words and phrases shall have the following meanings:

(a) "**Affiliate**" has the meaning ascribed thereto under
the *Securities Act* (British Columbia);

(b) "**Agreement**" shall mean this Share Purchase Agreement,
together with the recitals above and the Schedules hereto, as amended, supplemented or otherwise modified from time to time;

(c) "**Alternative Transaction**" means, other than the transactions contemplated in this Agreement, any offer, proposal or inquiry
 relating to, or any Person's indication of interest in: (i) the sale, license, disposition, or acquisition of any of the
 Target Shares or any material portion of the assets or undertaking of the Target; (ii) the issuance, disposition, or acquisition of (A) any
capital stock or other equity security of the Purchaser or Target, (B) any subscription, option, call, warrant, pre- emptive rights,
right of first refusal, or any other right (whether or not exercisable) to acquire any capital stock of other equity security of the
Purchaser or Target, or (C) any security, instrument or obligation that is or may become convertible into or exchangeable for any capital
stock or other equity security of the Purchaser or Target; or (iii) any merger, consolidation, business combination, reorganization,
or similar transaction involving the Purchaser or Target or any material portion of their respective assets or undertakings;

(d) "**Authorizations**" means
those sanctions, rulings, consents, orders, exemptions, permits and other approvals (including the lapse, without objection, of a prescribed
time under a statute or regulation that states that a transaction may be implemented if a prescribed time lapses following the giving
of notice without an objection being made) of any Government Authority, regulatory agency or self- regulatory organizations required by
the Purchaser or the Vendor in connection with the completion of this Agreement;

(e) "**Books and Records** "
means: (i) the available books of account, including trial balances ledger and back-end documents, (ii) the available sales records from
the Target's sale platforms and (iii) the share registry and minute books of Target but excluding (i) Excluded Books and Records
and (ii) information which is either protected
under privacy laws or under attorney-client privilege;

(f) "**Business**" means the
assembly and sale of pest control products primarily through Amazon.uk under fully owned trademarks: Roshield, Entopest, Rempro and BirdGo;

(g) "**Business Day**" means
any day, other than a Saturday, Sunday or any statutory holiday, when banks are open for business in the city of Vancouver, British Columbia,
Canada or both days of Rosh Hashanah and Shavuoth, Yom Kippur, Tisha B'av, the first two days of Succoth, Shimini Atzeret and Simchat
Torah, and the last two days of Passover and Purim;

(h) "**Closing**" means the
completion of the transactions of purchase and sale contemplated in this Agreement;

(i) "**Closing Date**" means
such date as may be agreed to in writing by the Parties as the date on which the Closing shall take place, but in any event not later
than the Termination Date;

(j) "**Closing Documents**" means the documents required
to be delivered pursuant to Section 6.2;

(k) "**Closing Time**" means
10:00 a.m. (Vancouver time) on the Closing Date or such other time as may be agreed to in writing by the Parties;

(l) "**Confidential Information** "
means, with respect to the Business, confidential or non-public information and trade secrets, including confidential or non-public: proprietary
information, know how, technology, technical data, proprietary processes, specifications, formulations, formulae, materials or compositions
of matter of any type or kind (patentable or otherwise), marketing reports, customer lists and supplier lists, study reports, regulatory
submission summaries and regulatory submission documents, expertise, test data, analytical and quality control data, studies and procedures,
schematics, test methodologies, simulation and development tools, prototypes and other devices;

(m) "**Consents and Notices**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) all requirements of any Government Authorities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any approvals by any stock exchange, or other regulatory authority, including the TSXV;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) all consents, approvals or notices required to be given to or received from any Person pursuant to a Contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) all filings, registrations or notices to any Government Authority required under Law; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the expiration of all notice periods established under Law, established by any Government Authority or established pursuant to any
Contract,

necessary to permit the consummation of the transactions contemplated by this Agreement;

(n) "**Contingent Right Certificate** "
means a certificate representing the Purchaser Contingent Rights in the form attached hereto as Schedule B.

(o) "**Contingent Right Shares** "
means the Purchaser Common Shares issuable upon conversion of the Purchaser Contingent Rights upon the satisfaction of the applicable
Milestone, on the terms and conditions set forth in the Contingent Right Certificate;

(p) "**Contracts**" means those
subsisting agreements, contracts, memorandum of understandings, instruments, leases, permits, licenses and other commitments, oral or
written, entered into by the Vendor or by which the Vendor is bound, which are significant to the Business, as set out in Schedule A;

(q) "**Employment Agreements**" has the meaning ascribed
thereto in section 3.1(v);

(r) "**Encumbrance**" means
any mortgage, easement, right-of-way, encroachment, covenant, condition, right of re-entry, right of possession, lease, license, lien,
charge, pledge, assignment, option, claim, title defect, hypothecation, security interest, title retention right, including any agreement
to give any of the foregoing, or other encumbrance of any nature or kind whatsoever;

(s) "**Escrow Agent**" means Endeavor Trust Corporation.

(t) "**Escrowed Securities** "
means the securities held by the Escrowed Securityholders and subject to the TSXV Escrow Agreement;

(u) "**Escrowed Securityholders** "
means the securityholders of the Purchaser that will be subject to escrow requirements of the TSXV pursuant to TSXV Policy 5.4 – *Escrow, Vendor Consideration and Resale Restrictions*;

(v) "**Excluded Books and Records** "
means all corporate, financial, taxation, Tax Returns and other books and records of the Vendor not related to the Business or Target
Shares;

(w) "**Existing Options**" has the meaning ascribed thereto
in section 4.1(s);

(x) "**Existing Warrants**" has the meaning ascribed thereto
in section 4.1(s);

(y) "**Filing Statement** "
means the TSXV filing statement prepared by the Purchaser and the Vendor in accordance with the TSXV Form 3B1;

(z) "**Finders**" means Capitalink Ltd. and LIA Pure Capital
Ltd.;

(aa) "**Finders' Shares**" has the meaning ascribed thereto in section 2.6;

(bb) "**Government Authority**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any domestic or foreign, national, federal, provincial, state, regional, municipal, county or other local
government;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any body exercising any statutory, regulatory, expropriation or taxing authority on behalf or under the
authority of any of the governments described in (i) above or any Laws, including any ministry, directorate, department, commission, bureau,
board, administrative or other agency, regulatory body or instrumentality thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) any quasi-governmental or private body exercising any statutory, regulatory, expropriation or taxing authority
operating under the authority of any of the governments described in (i) above or any Laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) any domestic or foreign judicial, quasi-judicial or administrative court, tribunal, commission, board
or panel acting under the authority of any of the governments described in (i) above or any Laws; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the TSXV;

(cc) "**IFRS** "
means the International Financial Reporting Standards issued by the International Accounting Standards Board and interpretations of the
International Financial Reporting Interpretations Committee;

(dd) "**Indebtedness** "
of any Person means all obligations of such Person (a) for money borrowed, whether or not evidenced by bonds, debentures, notes or other
similar instruments (including obligations to reimburse any other Person under any letter of credit, banker's acceptance or related
reimbursement agreement, to the extent drawn and not repaid, and any notes issued by such Person in connection with any acquisition undertaken
by such Person); (b) relating to any lease that is required to be classified as a capital lease in accordance with generally accepted
accounting principles; (c) for amounts owing or due under any interest rate protection agreement, derivative instrument, "swap"
agreement or similar agreement (valued on a fair market value basis); (d) in respect of the deferred purchase price of property (other
than trade accounts payable and other accrued current liabilities arising in the ordinary course of business); (e) to guarantee or be
liable for obligations of the types described in clauses (a) to (d) above, of any Person; and (f) for any accrued interest, prepayment
premium or penalty or other costs, fees or expenses related to the foregoing.

(ee) "**Intellectual Property**" means: (i) all works, including literary, artistic and graphic works, databases, and compilations thereof,
including computer software, source code, object code, firmware, development tools, files, records and data, (the "**Works** ");
(ii) all inventions, arts, processes, machines, manufactures, compositions of matter and developments, whether or not patentable, patented
or the subject of applications for patents (the "**Inventions** ");
(iii) all trade names, logos, trade dress, trademarks and service marks ()"**Marks** ");
(iv) all industrial designs, whether or not patentable or registrable, patented or registered or the subject of applications for design
patent or registration ()"**Designs** "); (v) all Confidential
Information;

(ff) "**Intellectual Property Rights**" means any and all industrial and intellectual property and proprietary rights in the Intellectual Property,
including, without limitation, the following: (i) all patents and applications therefor and rights to file applications for the Inventions
and all reissues, divisions, renewals, extensions, re-examinations, reissues, provisionals, continuations and continuations-in-part thereof
and other derivative applications and patents; (ii) all rights in the Confidential Information; (iii) all design patents, design registrations,
pending patent and design applications and rights to file applications for the Designs, including all rights of priority and rights in
continuations, continuations-in-part, divisions, re-examinations, reissues and other derivative applications and patents; (iv) all trademark
and service mark registrations for the Marks, trademark and service mark applications for the Marks, any rights arising from the use,
application for or registration of the Marks, and any and all goodwill associated with and symbolized by the Marks; and (v) all copyright
and other rights and all registrations, pending applications for registration and rights to file applications for, and all moral rights
and, where a Party is not the author, the benefits of such Party in all waivers of moral rights in, the Works;

(gg) "**Judgment** "
means, any judgment, decree, order, decision, injunction, award or ruling of any Government Authority;

(hh) "**Laws** "
means all domestic or foreign federal, national, provincial, state, regional, municipal, local or other constitutions, treaties, laws,
statutes, codes, ordinances, decrees, rules, regulations, by- laws, communiqués, policies, voluntary restraints, guidelines, requirements,
directives and any Judgments, including general principles of civil or common law, binding on or affecting the Person referred to in
the context in which such word is used;

(ii) "**Liability**" means any
debt, liability or obligation (whether direct or indirect, known or unknown, absolute or contingent, accrued or unaccrued, liquidated
or unliquidated, or due or to become due), and including all costs and expenses relating thereto;

(jj) "**Material Adverse Change**" means any change in the business, operations, affairs, liabilities, capitalization, financial condition,
prospects, licenses, permits, rights or privileges, of the Vendor or Target which could reasonably be expected to materially and adversely
affect the Business taken as a whole, except that none of the following, either alone or in combination, shall be considered in determining
whether there has been a "Material Adverse Change" or breach of a representation, warranty, covenant or agreement that is
qualified by the term "Material Adverse Change": (i) changes, effects, events or conditions affecting Israeli, Canadian or
British or other financial or securities markets or general economic or political conditions, including changes in the credit, interest
rate, commodity and currency markets or in the availability of financing, except to the extent any such change disproportionately impacts
the Business relative to other companies operating in the industries in which the Business operates; (ii) changes, effects, events or
conditions that result from the execution, announcement or performance of this Agreement or the identity of the Purchaser (which the
Vendor unreasonably objects to) or the consummation of the transactions contemplated hereby; (iii) changes, effects, events or conditions
that result from any action or omission required to be taken pursuant to this Agreement or at the request of or with the prior written
consent of the Purchaser, (iv) changes, effects, events, or conditions arising from acts of war (whether or not declared), armed hostilities,
terrorism, or other international or national calamity or crisis; and (v) changes, effects, events, or conditions arising from pandemics,
epidemics, or other public health crises, including any significant increase in the effects of COVID-19 and any evolutions or mutations
thereof;

(kk) "**material fact** ", "**material change**" and "**misrepresentation** "
have the meanings ascribed to such terms under the Securities Act;

(ll) "**Milestone** "
means the Purchaser (i) completing a transaction resulting in either the listing of the Purchaser on the New York Stock Exchange or the
NASDAQ (each, a "**US Exchange**") or other transaction
resulting in the issuance of shares listed on a US Exchange to holders of Purchaser Common Shares in exchange for such Purchaser Common
Shares (in either case, an "**Uplisting Transaction** ")
if such Uplisting Transaction is completed within twenty four (24) months of date of the Closing Date; (ii) successfully raising within
forty-eight (48) months of the Closing Date in equity and/or debt financing an aggregate of US$8,000,000 or more as of the date of closing
of such financing; and (iii) reaching annual revenues of a minimum of US$15,000,000 by December 31, 2028, as shown on the audited financial
statement for such periods (and in the case of (ii) and (iii), if applicable, converted into United States dollars using the applicable
Bank of Canada conversion rate as of the relevant date(s));

(mm) "**NASDAQ** "
means the Nasdaq Stock Market;

(nn) "**Parties** "
means the Vendor, the Target and the Purchaser, and "**Party** "
means any of them, as the case may be;

(oo) "**Payment Rights**" has the meaning ascribed to it in Section 2.3(b) of this Agreement;

(pp) "**Payment Securities**" has the meaning ascribed to it in Section 2.3(b) of this Agreement;

(qq) "**Payment Shares**" has the meaning ascribed to it in Section 2.3(a) of this Agreement;

(rr) "**Person** "
includes an individual, corporation, body corporate, partnership, joint venture, association, trust or unincorporated organization or
any trustee, executor, administrator or other legal Representative thereof or heirs, successors and assigns of such persons as the context
may require;

(ss) "**Proceeding** "
means any action, cause of action, suit or proceeding, including appeals or applications for review, before or by any Government Authority,
arbitrator or arbitration board or any investigation or inquiry by any Government Authority;

(tt) "**Purchaser Balance Sheet**" has the meaning ascribed thereto in subsection 4.1(f)(i) hereof;

(uu) "**Purchaser Common Shares**" means the common shares in the capital of the Purchaser;

(vv) "**Purchaser Contingent Rights**" means the contingent value rights to be issued to the Vendor on the Closing Date, each of which entitles
the holder thereof to acquire one Contingent Right Share for no additional consideration upon the satisfaction of the applicable Milestone,
on the terms and conditions set forth in the Contingent Right Certificate;

(ww) "**Purchaser Financial Statements**" means the most recent financial statements of the Purchaser posted to the Purchaser Public Disclosure
Record;

(xx) "**Purchaser Public Disclosure Record**" means all press releases, material change reports, material contracts, management proxy circulars,
financial statements, management's discussion and analysis, prospectuses and all other documents required to be filed under applicable
Securities Laws by or on behalf of the Purchaser to its SEDAR+ profile;

(yy) "**Representative** "
means, as to any Person, such Person's Affiliates and its Affiliates' respective agents, directors, officers, employees,
consultants, advisors (including, without limitation, financial, legal and accounting advisors) and representatives;

(zz) "**Securities Laws**" means the securities legislation and regulations of, and the instruments, policies, rules, orders, codes, notices
and interpretation notes of the applicable securities regulatory authority or applicable securities regulatory authorities of, the applicable
jurisdiction or jurisdictions collectively;

(aaa) "**Target Financial Statements**" means the audited financial statements of Target as at and for the financial years ended December
31, 2024 and 2023.

(bbb) "**Target Shares**" means all of the 100 ordinary shares of Target registered in the name of Vendor, representing 100% of the issued
and outstanding equity interests of Target;

(ccc) "**Tax** "
means all forms of direct or indirect taxation, duties, levies, charges, fees, withholding (including but not limited to health, welfare,
social security, employment and similar payments) and imposts, whether payable directly or indirectly, including, corporate tax, partnership
tax (or any other business tax), income tax, value added tax, stamp tax, banking and insurance transactions tax, municipality taxes,
social security taxes, customs and other import duties, capital gains tax, withholding tax on securities trading transactions and service
arrangements with foreign counterparts, expenses, penalties and interest relating to the foregoing or resulting from a failure to comply
with any provisions of any enactment relating to any of the foregoing;

(ddd) "**Tax Return**" means all returns, information returns, reports, declarations, elections, notices, filings, forms, statements
and other documents and including any amendments, schedules, attachments, supplements, appendices and exhibits thereto, made, prepared,
filed or required to be made, prepared or filed by Law in respect of Taxes;

(eee) "**Tax Ruling**" has the meaning ascribed thereto in subsection 7.1(c) hereof;

(fff) "**Termination Date**" means May 31, 2025;

(ggg) "**TSXV** "
means the TSX Venture Exchange;

(hhh) "**TSXV Escrow Agreement**" means the Value Security Escrow Agreement and/or the Surplus Security Escrow Agreement (each as defined
in accordance with the policies of the TSXV), as applicable;

(iii) "**Vendor's Authorizations** "
means the Authorizations, approvals and consents which are required by the Vendor to complete the transactions contemplated under this
Agreement; and

(jjj) "**Vendor Balance Sheet**" has the meaning ascribed thereto in section 3.1(h).

1.2 Schedules

The following are the Schedules to this Agreement and are incorporated into and form an integral part of this Agreement:

Schedule A <u>Contracts</u> <br> <u>Schedule B</u> <u>Form of Contingent Right Certificate</u>

1.3 Interpretation

For the purposes of this Agreement, except as otherwise expressly provided herein:

(a) "**this Agreement**" means
this Agreement, including the recitals and Schedules hereto, as it may from time to time be supplemented or amended;

(b) all references in this Agreement to a designated "Part", "Section", "Subsection",
or other subdivision, or to a "Schedule", is to the designated Part, Section, Subsection or other subdivision of or Schedule
to this Agreement unless otherwise specifically stated;

(c) the words "herein", "hereof" and "hereunder" and other words of similar
import refer to this Agreement as a whole and not to any particular Part, Section, Subsection or other subdivision or Schedule;

(d) the singular of any term includes the plural and *vice versa* and the use of any term is equally applicable to any gender;

(e) the word "or" is not exclusive and the word "including" is not limiting (whether
or not non-limiting language such as "without limitation" or "but not limited to" or other words of similar import
are used with reference thereto);

(f) all accounting terms not otherwise defined in this Agreement have the meanings assigned to them in accordance
with generally accepted accounting principles applicable in British Columbia and/or Canada, applied on a consistent basis with prior years;

(g) except as otherwise provided, any reference to a statute includes and is a reference to such statute and
to the regulations made pursuant thereto with all amendments made thereto and in force from time to time, and to any statute or regulations
that may be passed which have the effect of supplementing or superseding such statute or regulations;

(h) where the phrase "to the best of the knowledge of" or phrases of similar import are used in
this Agreement, it shall be deemed to mean that the Person in respect of whom the phrase is used shall have made reasonable due enquiries;

(i) the headings to the Parts, Sections and Subsections of this Agreement are inserted for convenience only
and do not form a part of this Agreement and are not intended to interpret, define or limit the scope, extent or intent of this Agreement
or any provision hereof;

(j) any reference to a corporate entity includes and is also a reference to any corporate entity that is a
successor to such entity;

(k) the representations, warranties, covenants and agreements contained in this Agreement shall not merge
at Closing and shall continue in full force and effect from and after the Closing Date for the applicable period set out in this Agreement;

(l) unless otherwise specifically noted, all references to money in this Agreement are or shall be to money
in lawful money of Canada; and

(m) if any action is required to be taken under this Agreement on a day that is not a Business Day, such action
shall be required to be taken on the next succeeding day which is a Business Day.

1.4 Governing Law

This Agreement shall be construed both in accordance with the Laws of British Columbia and the federal Laws of Canada applicable in British Columbia.

1.5 Severability

If an arbitrator, court or other tribunal of competent jurisdiction determines that any one or more of the provisions contained in this Agreement is invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of such provision or provisions shall not in any way be affected or impaired thereby in any other jurisdiction and the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby, unless in either case as a result of such determination this Agreement would fail in its essential purpose.

1.6 Entire Agreement

This Agreement constitutes the entire agreement between the Parties and supersedes all prior agreements and understandings, oral or written, by and between any of the Parties with respect to the subject matter hereof, including the letter of intent between the Parties dated January 2, 2025.

1.7 Waiver

If any Party breaches any provision of this Agreement, the failure of any other Party to require strict performance shall not constitute a waiver of such breach or otherwise prejudice the other Party from subsequently enforcing the provisions hereof as they relate to the breach in question or any similar or other breach. No waiver of any of the provisions of this Agreement shall be deemed to constitute a waiver of any other provision (whether or not similar) of this Agreement, nor shall such waiver constitute a continuing waiver unless otherwise expressly provided in writing duly executed by the Party to be bound thereby.

**PART 2**

**PURCHASE AND SALE AND RELATED TRANSACTIONS**

2.1 Purchase

On and subject to the terms and conditions of this Agreement, including the representations, warranties and covenants contained herein, the Vendor shall sell, assign, transfer and convey unto the Purchaser, or an assignee of the Purchaser, all of the Vendor's interest in and to the Target Shares, free and clear of all Encumbrances, , and the Purchaser shall purchase, accept and receive, all right, title and interest in or to the Target Shares on the Closing Date.

2.2 Retention of Liabilities

The Purchaser will not assume, acquire or otherwise become subject to any Liability or Indebtedness of the Vendor hereunder or in connection with the Transaction.

2.3 Consideration

As consideration for the sale, assignment, transfer and conveyance by the Vendor to the Purchaser of the Target Shares pursuant to this Agreement, the Purchaser will at Closing:

(a) issue 100,000,000 Purchaser Common Shares (the "**Payment Shares**") to the Vendor on a prospectus and registration exempt basis at a deemed price per share of $0.171246 as validly
issued and fully paid and non-assessable shares, free and clear of any Encumbrances (other than pursuant to applicable statutory or TSXV
Escrow Agreement), and shall deliver or cause to be delivered to the Vendor share certificates and/or direct registration statements as
directed by the Vendor, representing the Payment Shares;

(b) issue 66,000,000 Purchaser Contingent Rights (the "**Payment Rights**" and together with the Payment Shares, the "**Payment Securities**") to the Vendor, free and clear of any Encumbrances on a prospectus and registration exempt basis, subject
to the terms and conditions contained in the Contingent Right Certificate;

(c) the Vendor and the Purchaser hereby agree and acknowledge that the Payment Securities shall only be issued
pursuant to available exemptions under applicable Securities Laws on a prospectus exempt basis in Canada, including, without limitation,
exemptions available under National Instrument 45-106 - *Prospectus Exemptions*.
Accordingly, the Payment Securities will be subject to a four-month hold period and will bear the following legend:

"UNLESS PERMITTED UNDER APPLICABLE SECURITIES LEGISLATION, THE HOLDER OF THESE SECURITIES MUST NOT TRADE THE SECURITIES BEFORE THE DATE THAT IS FOUR (4) MONTHS AND A DAY AFTER [THE CLOSING DATE]";

(d) the Vendor recognizes that the Escrowed Securities will be subject to a TSXV Escrow Agreement in accordance
with the policies of the TSXV and may bear legends evidencing such escrow; and

(e) the Vendor further agrees and acknowledges that the Escrowed Securities may be subject to additional escrow
in accordance with applicable Securities Laws of non-Canadian jurisdictions, including, but not limited to, the United Kingdom of Great
Britain and Northern Ireland and the United States of America, and may bear legends evidencing such escrow.

2.4 Reconstitution of Board and Management

In connection with the Transaction, on the Closing Date the Purchaser will:

(a) procure the resignations of the incumbent directors of the Purchaser (the "**Legacy Directors**") and have such Legacy Directors waive and release any and all claims against the Purchaser in a form acceptable
to the Vendor;

as directors (the "**New Directors** "):

Viki Hakmon

Liat Sidi

Tamir Fayerman

Ohad David

Asaf Itzhaik

(c) procure the resignations of the incumbent officers of the Purchaser (the "**Legacy Officers**") and have such Legacy Officers waive and release any and all claims against the Purchaser in a form acceptable
to the Vendor;

as officers (the "**New Officers** "):

Gabi Gabazo (CEO)

Ronen Zalayet (CFO)

2.5 Name Change

As at the Closing Time, the Purchaser will be renamed "Impact Technologies Corp." or such other name as the Vendor and Purchaser may determine, acting reasonably (the "**Name Change**").

2.6 Finders' Fees

A finder's fee of 5,000,000 Purchaser Common Shares (the "**Finders' Shares**") will be issuable to the Finders on the Closing Date as set out in the table below, subject to TSXV approval and requirements, including any applicable hold periods, and applicable Laws:

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Finder** | &nbsp;&nbsp;**Number of Finders' Shares** |
| &nbsp;&nbsp;Capitalink Ltd. | &nbsp;&nbsp;3,333,333 |
| &nbsp;&nbsp;L.I.A Pure Capital Ltd. | &nbsp;&nbsp;1,666,667 |

---

**PART 3**

**REPRESENTATIONS AND WARRANTIES**

**OF THE VENDOR**

3.1 Representations and Warranties of the Vendor and the Target

To induce the Purchaser to enter into and complete the transactions contemplated by this Agreement, the Vendor and the Target represent and warrant to the Purchaser as representations and warranties that are true and correct as at the date of this Agreement and that shall be true and correct on the date of this Agreement and the Closing Date as if such representations and warranties were made on each of the date of this Agreement and the Closing Date (except insofar as such representations and warranties are stated to be given as of a particular date or for a particular period and relate solely to such date or period), on a joint and several basis, as follows:

(a) **Incorporation and Status of the Vendor** –
Each of the Vendor and Target is a body corporate duly formed, organized and validly subsisting under the Laws of the jurisdiction of
its incorporation or organization and is duly qualified to carry on business in the jurisdictions in which it carries on business or owns
assets;

(b) **Power and Authority** – Each
of the Vendor and the Target has all necessary corporate power and capacity to enter into this Agreement and all documents and agreements
contemplated herein to which each of the Vendor and the Target is or may become a party, to perform its obligations hereunder and thereunder,
and to transfer the legal and beneficial title to and ownership of the Target Shares to the Purchaser, free and clear of all Encumbrances.
The execution and delivery of this Agreement by each of the Vendor and the Target has been duly authorized by all necessary corporate
action on the part of each of the Vendor and the Target and no other corporate Proceedings on the part of each of the Vendor and the Target
are necessary to authorize this Agreement and the transactions contemplated hereunder;

(c) **Agreement Valid** – This Agreement
has been duly executed and delivered by each of the Vendor and the Target and constitutes a legal, valid and binding obligation of each
of the Vendor and the Target, enforceable against each of the Vendor and the Target in accordance with its terms, subject to such limitations
and prohibitions as may exist or may be enacted in applicable laws relating to bankruptcy, insolvency, liquidation, moratorium, reorganization,
arrangement or winding-up and other laws, rules and regulations of general application affecting the rights, powers, privileges, remedies
and/or interests of creditors generally;

(d) **No Violation** – The execution
and delivery by each of the Vendor and the Target of this Agreement and performance by each of the Vendor and the Target of its obligations
hereunder and the transactions contemplated hereby, including, but not limited to transferring the legal and beneficial title to and ownership
of the Target Shares to the Purchaser, will not result in:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a violation or breach of any provision of or constitute a default (or an event that with notice or lapse
of time or both would become a default) under, or give to others any rights of termination, amendment, shot-gun, acceleration or cancellation
of or under:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the Vendor's or Target's constating documents or any resolution of its directors, shareholders,
managers and members, as applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) to the best of the knowledge of the Vendor and the Target, any Judgment; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) any agreement, arrangement or understanding to which the Vendor and Target is a party or by which it is
bound or affected that could reasonably be expected to have a Material Adverse Change on the Target Shares taken as a whole; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a contravention of any applicable corporate Law or Securities Law;

(e) **Target Shares** – The Vendor
owns the Target Shares free and clear of all Encumbrances other than any restrictions on transfer contained in the constating documents
of Target. The Target Shares constitute 100% of the issued and outstanding equity interests of Target. The Target Shares are validly issued,
fully paid and are non-assessable and there are no outstanding subscriptions, options, warrants, calls, convertible securities or other
similar rights, agreements or commitments relating to the issuance of shares or other equity interests in the Target to which Target or
the Vendor is a party, obligating Target or the Vendor to compel the Target to (i) issue, transfer or sell any Target Shares or other
equity interests of Target or securities convertible into or exchangeable or exercisable for such shares or equity interests, (ii) grant,
extend or enter into such subscription, option, warrant, call, convertible securities or other similar right, agreement or arrangement,
or (iii) redeem or otherwise acquire any such shares or other equity interests.

(f) Target Corporate Records and Documentation –

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) True, complete and current copies of the Articles of Target have been delivered or made available to the
Purchaser;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) True, complete and current copies of the share and shareholder register of Target have been delivered
or made available to the Purchaser;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) All corporate documentation of Target, including minutes of the board meetings and shareholder meetings
have been duly and properly recorded and stored and are accurate, correct and complete, except as would not be material. All such documentation
has been provided to the Purchaser;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) All filings required by applicable Law to be delivered or made by Vendor and Target to company registries,
except as would not be material, have been duly delivered or made on a timely basis; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) No registration filings for Target, except as would not be material, are pending and no resolutions have
been passed which should, but have not yet been filed for registration;

(g) **Consents and Approval** – Other
than the approval of the TSXV (if applicable) or as required under the Contracts that require consent/approval, there is no requirement
for the Vendor or Target to give or receive any Consents and Notices or obtain any Authorization in order for the Vendor or Target, as
applicable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to consummate the transactions contemplated by this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) to execute and deliver this Agreement and all of the documents and instruments to be delivered by the
Vendor and Target under this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) to render this Agreement legal, valid, binding and enforceable against either;

(h) **Material Liabilities** – The
Target Shares are not subject to material liabilities of any nature (matured or unmatured, fixed or contingent), other than:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) those set forth or adequately provided for in the most recent balance sheet and associated notes thereto
included in the Target Financial Statements (the "**Vendor Balance Sheet** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) those incurred in the ordinary course of business and not required to be set forth in the Vendor Balance
Sheet under IFRS; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) those incurred in the ordinary course of business since the date of the Vendor Balance Sheet and consistent with past practice;

(i) **Acts of Bankruptcy** – Neither
the Vendor nor Target has proposed a compromise or arrangement to its creditors generally, has taken any Proceeding with respect to such
a compromise or arrangement, has taken any Proceeding to have itself declared bankrupt or wound-up, has taken any Proceeding to have a
receiver appointed in respect of any part of its assets and, at present, no encumbrancer or receiver has taken possession of any of its
property and no execution or distress is enforceable or levied upon any of its property that is material to the Vendor or Target and no
petition for a receiving order in bankruptcy is filed against either;

(j) **Litigation** – Neither the
Vendor nor Target is a party to any Proceedings that could materially affect the business, operations, financial condition of the Target
and, to the best of the knowledge of the Vendor, no such Proceedings are contemplated or have been threatened;

(k) **Judgments** – To the best of
the knowledge of the Vendor and the Target, there are no Judgments against Target or the Vendor that are unsatisfied;

(l) **Compliance with Laws** – Neither
the Vendor nor Target is in breach of any Laws which may have a Material Adverse Change on the value of the Target Shares, the Business
or the operations concerning the Target or the Business, and has not received any notice or claim of any alleged breach or violation of
any Laws;

(m) **Accuracy of Books and Records –** All
material transactions of the Vendor and Target related to the Target Shares have been properly recorded in the Books and Records in all
material respects;

(n) **Accounting Records** – The
Vendor and Target has maintained proper accounting records such that an audit can readily be completed on its financial statements;

(o) **Title of Target Shares** –
The Vendor directly owns all interest in and to and has good and marketable title to the Target Shares, free and clear of all Encumbrances,
adverse claims, interests of others and demands of any nature or kind whatsoever recorded or unrecorded;

(p) **No Adverse Claims** – There
are no adverse claims or challenges to or against the Vendor's ownership of interest in or title to the Target Shares or the validity
thereof, nor, to the best of the knowledge of the Vendor and the Target, is there any basis therefor. Neither the Vendor nor the Target
has received notice from any Person claiming rights or interests in or to the Target Shares or an Encumbrance on the Target Shares and
there are no outstanding agreements or rights or options to acquire or purchase the Target Shares or any portion thereof and no Person,
firm or corporation has any proprietary or possessory interest in the Target Shares other than the Vendor, and no Person is entitled to
any royalty or other payment in the nature of rent or royalty on any of the assets of the Target;

(q) **Possession** – No Person, other
than the Vendor, is entitled to be in possession, including any mortgagee, of the whole or any part of the Target Shares as contemplated
under applicable Laws;

(r) Contracts –

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) **Contracts** – Except for the Contracts described in Schedule
A, the Target is not a party to any Contract related to the Business; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) **Copies of Agreements** – True, correct and complete copies
of all Contracts have been delivered to the Purchaser;

(s) Insurance –

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) **Coverage** – The Vendor maintains
insurance policies with coverages customary to businesses similar to the Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) **Insurance** – All policies
of insurance related to the Target or the Business maintained by the Vendor and Target are in good standing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) **Outstanding Claims** – To the
best of the knowledge of the Vendor and Target, no threatened or actual material claims against or under any insurance policies of the
Vendor or Target providing coverage of the Target and the Business have been made, except for claims that have been settled, satisfied
or otherwise terminated, with no remaining liability to the Vendor or Target;

(t) **Filing of Reports and Returns** –
The Vendor and Target have duly filed or made all reports and returns required to be filed by it with any Government Authority and has
obtained all permits, licenses, consents, approvals, certificates, registrations and Authorizations (whether from Government Authority
or otherwise) which are required in connection with the operations concerning the Business;

(u) **Employee –** Except for as
disclosed by Schedule A, the Vendor and the Target do not currently have any employment, consulting, severance pay, continuation pay,
termination pay, change of control or indemnification agreements or other similar agreements of any nature whatsoever (collectively, "**Employment Agreements**") between the Vendor, on the one hand, and any current or former shareholder, officer or director of the Vendor,
or any other employee or consultant for which such employee or consultant receives a salary of greater than $50,000 or is entitled to
any extraordinary, bonus, termination, change of control, indemnification or other payment as a result of or in connection with the transactions
contemplated in this Agreement at any time, that are currently in effect;

(v) **Collective Bargaining** – The
Target are not party to any collective bargaining agreement or collective bargaining relationship with any labour union or employee Representative
that would apply to Target or the operations concerning the Business. No trade union, council of trade unions, employee bargaining agency
or affiliated bargaining agent holds bargaining rights with respect to any of the employees by way of certification, interim certification,
voluntary recognition, or succession rights and no union organizing or decertification activities are underway or threatened, and no such
activities have occurred in the last five years which would affect Target or the operations concerning the Business. There are no pending
nor, to the knowledge of the Vendor, threatened stoppages, strikes, lockouts, walkouts, or other material labour disputes with respect
to the Vendor, and no such dispute has occurred in the last five years which would affect Target or the operations concerning the Business;

(w) **Employment Law Compliance** –
The Target has complied in all material respects with all Laws relating to the employment of employees, including provisions thereof relating
to wages, hours, overtime, collective bargaining, immigration, vacations, occupational health and safety, workplace safety and the payment
of social security and other Taxes and there are no outstanding claims, complaints, investigations or orders under any such Laws;

(x) **Material Events** – At the
Closing Time, there is no Material Adverse Change with respect to the Business, the Target or Target Shares;

(y) **Anti-Bribery and Corruption** –
Neither the Vendor and the Target, nor any director, officer, employee, consultant, Representative or agent of the Vendor and the Target
has:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) violated any anti-bribery or anti-corruption Laws applicable to the Vendor and/or the Target, including
but not limited to the U.S. Foreign Corrupt Practices Act and *Canada's Corruption of Foreign Public Officials Act*; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) offered, paid, promised to pay, or authorized the payment of any money, or offered, given, promised to
give, or authorized the giving of anything of value, that goes beyond what is reasonable and customary and/or of modest value: (a) to
any government official, whether directly or through any other person, for the purpose of influencing any act or decision of a government
official in his or her official capacity; inducing a government official to do or omit to do any act in violation of his or her lawful
duties; securing any improper advantage; inducing a government official to influence or affect any act or decision of any Government Authority;
or assisting any Representative of Vendor or Target in obtaining or retaining business for or with, or directing business to, any person;
or (b) to any person, in a manner which would constitute or have the purpose or effect of public or commercial bribery, or the acceptance
of or acquiescence in extortion, kickbacks, or other unlawful or improper means of obtaining business or any improper advantage. Neither
Vendor nor Target nor to the knowledge of the Vendor, any director, officer, employee, consultant, Representative or agent of foregoing,
has (i) conducted or initiated any review, audit, or internal investigation that concluded Vendor or Target or any director, officer,
employee, consultant, Representative or agent of the foregoing violated such Laws or committed any material wrongdoing, or (ii) made a
voluntary, directed, or involuntary disclosure to any Government Authority responsible for enforcing anti-bribery or anti-corruption Laws,
in each case with respect to any alleged act or omission arising under or relating to non-compliance with any such Laws, or received
any notice, request, or citation from any person alleging non-compliance with any such Laws;

(z) **Intellectual Property** – The
Target owns all right, title and interest in and to, or have validly licensed (and are not in breach of such licenses) all material Intellectual
Property Rights related to the Target or the Business. All such Intellectual Property Rights that are owned by or licensed to the Vendor
or Target, as the case may be, are sufficient, in all material respects, for conducting the operations concerning the Business. All Intellectual
Property Rights owned or leased by the Vendor or Target, as the case may be, are valid and enforceable and the carrying on of the operations
concerning the Business and the use by the Vendor or Target of any such Intellectual Property Rights or Technology (as defined below)
owned by or licensed by it does not breach, violate, infringe or interfere with any rights of any other Person. To the knowledge of the
Vendor, no third party is infringing upon the Intellectual Property Rights owned or licensed by the Vendor or Target. All computer hardware
and associated firmware and operating systems, application software, database engines and processed data, and technology infrastructure
used in connection with the conduct of the Target (collectively, the "**Technology** ")
are sufficient, in all material respects, for conducting the Business, as presently conducted, and the Vendor owns or has validly licensed
or leased (and are not in breach of such licenses or leases) such Technology;

(aa) **Representations Regarding Investment in the Payment Securities** – The Payment Securities to be received by the Vendor will be issued
to the Vendor as principal for its own account, not as a nominee or agent, and not with a view to distribution of any part thereof, and
the Vendor has no present intention of selling, granting any participation in, or otherwise distributing the same. The Vendor does not
currently have any contract, undertaking, agreement or arrangement with any Person to sell, transfer or grant participations to such
Person or to any third party, with respect to any of the Payment Securities; and

(bb) **Authorized Conduct** – The Vendor has not engaged in an unlawful or unauthorized practice of medicine or other professionally licensed
activities through any web sites sponsored or operated, or formerly sponsored or operated, by the Vendor or any other Person.

3.2 Survival of Representations and Warranties of the Vendor and Target

The representations and warranties of the Vendor and Target set out in Section 3.1 shall survive the Closing and the payment of the Consideration Securities and shall continue in full force and effect for eighteen (18) months for all matters, subject only to applicable limitation periods imposed by Law.

3.3 Reliance

The Vendor and the Target acknowledge and agree that the Purchaser has entered into this Agreement relying on the warranties and representations, covenants and other terms and conditions of this Agreement, provided that in no event will the Vendor or the Target have any liability to the Purchaser with respect to a breach of a representation, covenant or other term and condition of this Agreement that the Purchaser was aware of before the Closing Time.

**PART 4**

**REPRESENTATIONS AND WARRANTIES OF THE PURCHASER**

4.1 Representations and Warranties of the Purchaser

In order to induce the Vendor and the Target to enter into and to consummate the transactions contemplated by this Agreement, the Purchaser represents and warrants to the Vendor and the Target as representations and warranties that are true and correct as at the date of this Agreement and that will be true and correct on each of the date of this Agreement and the Closing Date as if such representations and warranties were made on each of the date of this Agreement and the Closing Date (except insofar as such representations and warranties are stated to be given as of a particular date or for a particular period and relate solely to such date or period), as follows:

(a) **Incorporation and Status** –The
Purchaser is a body corporate duly formed, organized and validly subsisting under the Laws of the jurisdiction of its incorporation or
organization and is duly qualified to carry on business in the jurisdictions in which it carries on business;

(b) **Power and Authority** –The
Purchaser has all necessary corporate power and capacity to enter into this Agreement and all documents and agreements contemplated herein
to which it is or becomes a party, to perform its obligations hereunder and thereunder, and to acquire legal and beneficial title to and
ownership of the Target Shares from the Vendor. The execution and delivery of this Agreement by the Purchaser has been duly authorized
by all necessary corporate action on the part of the Purchaser and no other corporate Proceedings on the part of the Purchaser is necessary
to authorize this Agreement and the transactions contemplated hereunder;

(c) **Agreement Valid** – This Agreement
has been duly executed and delivered by the Purchaser and constitutes a legal, valid and binding obligation of the Purchaser, enforceable
against the Purchaser in accordance with its terms, subject to such limitations and prohibitions as may exist or may be enacted in applicable
laws relating to bankruptcy, insolvency, liquidation, moratorium, reorganization, arrangement or winding-up and other laws, rules and
regulations of general application affecting the rights, powers, privileges, remedies and/or interests of creditors generally;

(d) **No Violation** – The execution
and delivery by the Purchaser of this Agreement and performance by the Purchaser of its obligations hereunder and the transactions contemplated
hereby, including, but not limited to, acquiring the legal and beneficial title to and ownership of the Target Shares from the Vendor,
will not result in:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a violation or breach of any provision of, constitute a default (or an event that with notice or lapse
of time or both would become a default) under, or give to others any rights of termination, amendment, shot-gun, acceleration or cancellation
of or under:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the Purchaser's constating documents or any resolution of its directors, shareholders, managers and members, as applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) to the best of the knowledge of the Purchaser, any Judgment; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) any agreement, arrangement or understanding to which the Purchaser is a party or by which it or its properties
is bound or affected that, individually or in the aggregate, could reasonably be expected to have a Materially Adverse Effect on the Purchaser;
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a material breach of any applicable corporate or Securities Law;

(e) **Consents and Approval** – Other
than the approval of the TSXV, there is no requirement for the Purchaser to give or receive any Consents and Notices or obtain any Authorization
in order for the Purchaser:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to consummate the transactions contemplated by this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) to execute and deliver this Agreement and all of the documents and instruments to be delivered by the
Purchaser under this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) to render this Agreement legal, valid, binding and enforceable against it;

(f) **Material Liabilities** – The
Purchaser does not have material liabilities of any nature (matured or unmatured, fixed or contingent), other than:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) those set forth or adequately provided for in the most recent balance sheet and associated notes thereto
included in the Purchaser Financial Statements (the "**Purchaser Balance Sheet** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) those incurred in the ordinary course of business and not required to be set forth in the Purchaser Balance
Sheet under IFRS; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) those incurred in the ordinary course of business since the date of the Purchaser Balance Sheet and consistent
with past practice;

(g) **Acts of Bankruptcy** – The
Purchaser has not proposed a compromise or arrangement to its creditors generally, has not taken any Proceeding with respect to such a
compromise or arrangement, has not taken any Proceeding to have itself declared bankrupt or wound-up, has not taken any Proceeding to
have a receiver appointed of any part of its assets and, at present, no encumbrancer or receiver has taken possession of any of its property
and no execution or distress is enforceable or levied upon any of its property that is material to the Purchaser and no petition for a
receiving order in bankruptcy is filed against either;

(h) **Litigation** – The Purchaser
is not a party to any Proceedings that could materially affect its business, operations or financial condition, and, to the best of the
knowledge of the Purchaser, no such Proceedings are contemplated or have been threatened;

(i) **Judgments** – To the best of
the knowledge of the Purchaser, there are no Judgments against the Purchaser that are unsatisfied;

(j) **Compliance with Laws** – The
Purchaser is in material compliance with all applicable Laws and has not received any notice of any alleged breach or violation of any
such Laws;

(k) Corporate Records and Documentation –

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) True, complete and current copies of the Articles of the Purchaser have been delivered to the Vendor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) A certificate of the registrar and transfer agent of the Purchaser Common Shares, which certifies the
number of Purchaser Common Shares issued and outstanding on the date prior to the Closing Date have been delivered to the Vendor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) All corporate documentation of the Purchaser, including minutes of the board meetings and shareholders'
meetings exists, is safely stored and is correct, except as would not be material. All such documentation has been provided to the Vendor;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) All filings required by applicable Law to be delivered or made by the Purchaser to company registries,
except as would not be material, have been duly delivered or made on a timely basis.

(l) **Accuracy of Books and Records** –
All material transactions of the Purchaser have been properly recorded in its books and records in all material respects;

(m) **Accounting Records** – the
Purchaser has maintained proper accounting records such that an audit can be readily completed on its financial statements;

(n) **Filing of Reports and Returns** –
The Purchaser has duly filed or made all reports and returns required to be filed by it with any Governmental Authorities and obtained
all permits, licenses, consents, approvals, certificates, registrations and Authorizations (whether from Government Authority or otherwise)
which are required in connection with its business and operations;

(o) **Employees** – The Purchaser
does not currently have any Employment Agreements between the Purchaser, on the one hand, and any current or former shareholder, officer
or director of the Purchaser or any other employee or consultant;

(p) **Employment Law Compliance** –
The Purchaser has complied in all material respects with all Laws relating to the employment of employees, including provisions thereof
relating to wages, hours, overtime, collective bargaining, immigration, vacation, occupational health and safety and the payment of social
security and other Taxes and there are no outstanding claims, complaints, investigations or orders under any such Laws;

(q) **Material Events** – Except
as contemplated by this Agreement, at the Closing Time there is no Material Adverse Change with respect to its business or operations;

(r) **Capitalization** – The authorized
capital of the Purchaser consists of an unlimited number of Purchaser Common Shares, all of which are of a single class and have the same
rights attached to them. As of the date hereof, 28,300,000 Purchaser Common Shares were issued and outstanding. All of the outstanding
share capital of the Purchaser has been duly authorized and validly issued and are fully paid and non-assessable are free and clear of
any pre-emptive rights or restrictions on transfer.

(s) **Options and Warrants** – The
Purchaser has issued (i) 580,000 incentive stock options ()"**Existing Options**") each exercisable to acquire one (1) Purchaser Common Share upon payment of an exercise price per Purchaser
Common Share of $0.10 and (ii) 300,000 common share purchase warrants (the "**Existing Warrants** "), each exercisable to acquire one (1) Purchaser Common Share upon payment of an exercise price per Purchaser
Common Share of $0.10. Except for the Existing Options and Existing Warrants, there are no outstanding subscriptions, options, warrants,
calls, convertible securities or other similar rights, agreements or commitments relating to the issuance of shares or other equity interests
in Purchaser to which Purchaser is a party, obligating Purchaser to (i) issue, transfer or sell any Purchaser Common Shares or other equity
interests of Purchaser or securities convertible into or exchangeable or exercisable for such shares or equity interests, (ii) grant,
extend or enter into such subscription, option, warrant, call, convertible securities or other similar right, agreement or arrangement,
or (iii) redeem or otherwise acquire any such shares or other equity interests. The execution
and delivery by the Purchaser of this Agreement and performance by the Purchaser of its obligations hereunder and the transactions contemplated
hereby shall not trigger any adjustment to the entitlements under the Existing Options or the Existing Warrants (e.g., each Existing Option
shall continue to entitle the holder to acquire one (1) Purchaser Common Share up to an aggregate of 580,000 Purchaser Common Shares and
each Existing Warrant shall continue to entitle the holder to acquire one (1) Purchaser Common Share up to an aggregate of 300,000 Purchaser
Common Shares) or trigger any cash payments to holders thereunder.

(t) **Listing of Payment Shares** –
The Purchaser Common Shares are listed and posted for trading on the TSXV and, to the knowledge of the Purchaser, other than in connection
with the Transaction, no order ceasing or suspending trading in any securities of the Purchaser or prohibiting the sale or issuance of
the Payment Securities or the trading of any of the Purchaser's issued securities has been issued and no (formal or informal) Proceedings
for such purposes have been threatened or, to the knowledge of the Purchaser, are pending except in connection with this Agreement;

(u) **Regulatory Matters** – The
Purchaser is a "reporting issuer" under the Securities Laws of each of the provinces of British Columbia and Alberta and is
not noted as being in default on the list of reporting issuers maintained under the securities legislation in such provinces, and in particular,
without limiting the foregoing, the Purchaser is in material compliance with its disclosure obligations under Securities Laws and, except
with respect to this Agreement and the transactions contemplated herein, there is no material change relating to the Purchaser which has
occurred and with respect to which the requisite material change report has not been filed with the applicable securities regulators.
All material filings and fees due and payable by the Purchaser pursuant to Securities Laws and general corporate law have been made and
paid. The Purchaser has not taken any action to cease to be a reporting issuer in any jurisdiction in which it is a reporting issuer,
and has not received any notification from a securities regulator seeking to revoke the reporting issuer status of the Purchaser;

(v) **Resale of Securities** – The
Payment Securities will be subject to a TSXV Escrow Agreement as required by the TSXV and a statutory hold period in accordance with Section
2.3(d) hereof and will bear legends accordingly;

(w) **Issue of Consideration Securities** –
The execution of this Agreement and the issue by the Purchaser to the Vendor of the Consideration Securities will be exempt from the registration
and prospectus requirements of Securities Laws in Canada;

(x) **Issue of Payment Securities is Valid** – All necessary corporate action has been taken or will have been taken prior to Closing to authorize the issue and the delivery
of the Payment Securities at Closing and the Payment Shares will be validly issued as fully paid and non-assessable shares and the Purchaser
has reserved for issuance. There are 28,300,000 Purchaser Common Shares issued and outstanding, an aggregate of 580,000 Existing Options
issued and outstanding (each such Existing Option exercisable to acquire one (1) Purchaser Common Share at an exercise price per share
of $0.10) and an aggregate of 300,000 Existing Warrants issued and outstanding (each such Existing Warrant exercisable to acquire one
(1) Purchaser Common Share at an exercise price per share of $0.10) and each such Purchaser Common Share has and will have the same rights
and entitlements as the Payment Shares and the Contingent Right Shares. The Purchaser Common Shares, Existing Options and Existing Warrants
are free and clear of Encumbrances. At the Closing Time, all conditions required for the conditional listing of the Payment Securities
on the TSXV will have been fulfilled (subject to standard post-Closing filings with the TSXV);

(y) **No Cease Trade Order** –
 No order ceasing or suspending trading in the securities of the Purchaser nor prohibiting the sale of such securities has been
 issued to or in respect of the Purchaser or its directors, officers or promoters and to the best of the knowledge of the Purchaser,
 no investigations or Proceeding for such purposes are pending or threatened,
other than the halting of the Purchaser Common Shares by the TSXV in connection with the Transaction;

(z) **Taxes** – The Purchaser has
paid all Taxes shown as due and payable by it on all of its Tax returns and has paid all assessments and reassessments it has received
in respect of Taxes. The Purchaser has paid all Tax installments due and payable by it. There are no assessments or reassessments of Taxes
that have been issued and are outstanding. The Purchaser is not negotiating any assessment or reassessment with any Governmental Authority.
The Purchaser is not aware of any liabilities for Taxes or any grounds for an assessment or reassessment, including any liability to pay
Taxes in connection with this Agreement;

(aa) **Subsidiaries** – The Purchaser does not have any subsidiaries; and

(bb) **Name Change** – The Name Change does not require the approval
of any party other than the TSXV.

4.2 Fees

Other than the Finders, there is no investment banker, broker or other intermediary or advisor that has been retained by or is authorized to act on behalf of the Purchaser, who might be entitled to any fee, commission or reimbursement of expenses on Closing.

4.3 Other Representations

All statements contained in any certificate or other instrument delivered by or on behalf of the Purchaser pursuant hereto or in connection with the transactions contemplated by this Agreement shall be deemed to be representations and warranties by the Purchaser hereunder.

4.4 Survival

The representations and warranties of the Purchaser hereunder shall survive the Closing and the purchase of the Target Shares, and, notwithstanding the Closing and the purchase of the Target Shares, the representations and warranties of the Purchaser shall continue in full force and effect for the benefit of the Vendor and Target for a period of eighteen (18) months from the Closing Date.

4.5 Reliance

The Purchaser acknowledges and agrees that the Vendor and Target have entered into this Agreement relying on the warranties and representations, covenants and other terms and conditions of this Agreement provided that in no event will the Purchaser have any liability to the Vendor with respect to a breach of a representation, covenant or other term and condition of this Agreement that the Vendor was aware of before the Closing Time.

**PART 5**

**COVENANTS**

5.1 Covenants of the Vendor and Target

Each of the Vendor and the Target hereby covenants and agrees that, during the period from the date of this Agreement to the Closing Time, the Vendor and the Target will do the following:

(a) **Access –** Permit the Purchaser
and each of its employees, agents, technical and professional advisors and other Representatives, between the date hereof and the Closing
Date, upon reasonable advance notice to the Vendor or the Target of such proposed access, to have reasonable access during normal business
hours, without interruption to the Business being carried out by the Vendor and/or the Target on the premises, to the premises and such
employees, all as may be authorized by the Vendor and/or the Target, as applicable, for the purposes of accessing and reviewing the Books
and Records, Business and Technical Information and the assets of the Vendor or the Target as they pertain to the Business, and shall
furnish, and require that the Vendor's principal bankers, independent auditors, counsel, technical advisors and other advisors furnish,
to the Purchaser, such financial, technical and operating data and other information with respect to the Target, as the Purchaser shall
from time to time reasonably request to enable confirmation of the matters represented and warranted in Part 3;

(b) **Confer** – Confer on a regular
basis with the Purchaser with respect to operational matters concerning the Target and promptly advise the Purchaser, orally and in writing,
of any materially adverse change in respect of the Target or the Business and of any material Proceedings (or communications indicating
that Proceedings may be contemplated) with respect thereto;

(c) **Conduct Business in Ordinary and Usual Course** – Except as otherwise provided in this Agreement, each of the Target and the Vendor shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) conduct its business relating to the Target and the Business in the ordinary and usual course consistent with past practices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) not transfer, sell, consume or otherwise dispose of any part of the Target Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) not appoint or permit the appointment of a liquidator, receiver, trustee in bankruptcy, or similar official in respect of the Target
Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) not request an order by a Government Authority for the winding-up or dissolution of the Vendor or Target;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) except in the ordinary course of business, not, without the prior written consent of the Purchaser, which shall not be unreasonably
withheld, delayed or conditioned:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) enter into, modify, amend or terminate any Contracts or Authorizations related to the Business or incur
any liability, except in the ordinary course of business and which is not material;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) issue or agree to issue any debt, equity or other securities in Target;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) borrow money or incur any Indebtedness for money borrowed in Target, except in the ordinary course of
business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) make loans, advances or other payments which would affect the operations relating to the Target or the
Business, other than as required in connection with this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) distribute, transfer, sell, assign or encumber in any way whatsoever any of the Target Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F) alter or amend the articles or by-laws or any other constating documents of the Target in any manner,
except as required to give effect to the matters contemplated by this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G) other than in connection with this Agreement, enter into any transaction or material Contract or engage
in any business enterprise or activity different from that carried on by the Target in the ordinary course of business;

(d) **Continue Insurance** – Use
its commercially reasonable efforts to maintain all existing policies of insurance on the Target;

(e) **Comply with Laws** – Comply
with all Laws and all Authorizations governing or affecting the Target and/or the Business;

(f) **Pay Liabilities** – Pay and
discharge all Liabilities or obligations of the Vendor (as they relate to the Target Shares) and Target in the ordinary and usual course
of business consistent with past business practice, except for such liabilities or obligations as may be contested in good faith;

(g) **No Breach** – Not take any
action or omit to take any action which would, or would reasonably be expected to, result in a breach of or render untrue any representation,
warranty, covenant, agreement, term or other obligation of the Vendor contained herein;

(h) **Consents, Notices and Authorizations** –
Use commercially reasonable efforts to ensure that all Consents and Notices have been received or given; and those Consents and Notices
which have already been received or given be maintained effective, as the case may be, prior to the Closing Date and that all Authorizations
required to permit the Purchaser to carry on the Business as currently carried on have been obtained prior to the Closing Date, all in
form and substance satisfactory to the Purchaser, acting reasonably;

(i) **Preserve Business** – Use commercially
reasonable efforts carry on the Business and operate Target as currently conducted, in each case in all material respects;

(j) **Maintenance of Books and Records** – Maintain the Books and Records in the usual, regular and ordinary manner, consistent with accepted accounting practices;

(k) **Notice of Material Developments** – Notify the Purchaser as soon as the Vendor or the Target has determined that a state of facts exists which results in, or can
reasonably be expected to result in:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any representation or warranty of the Vendor or the Target set forth in this Agreement being untrue or
incorrect in any material respect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the breach of any covenant of the Vendor or the Target set forth in this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the non-fulfillment of any condition for the benefit of the Purchaser set forth in this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) any material change in the operations, Business, Target, Target Shares, liabilities, ownership, capital
or financial position or condition of the Target, or change in a material fact that has a Material Adverse Change on, or would reasonably
be expected to have a Material Adverse Change on, the Business, Target or Target Shares, except for the transactions contemplated by this
Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) any notice or other communication from any Person alleging that the Consent (or waiver, permit, exemption,
order, approval, agreement, amendment or confirmation) of such Person is required in connection with this Agreement or the Transaction
(and contemporaneously provide a copy of any such notice or communication to the other Party);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) any notice or other communication from any Government Authority in connection with this Agreement or the
Transaction (and contemporaneously provide a copy of any such notice or communication to the other Party); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) any material legal or regulatory Proceedings commenced or, to its knowledge, threatened against, relating
to or involving or otherwise affecting such Party, in each case, solely to the extent that it relates to this Agreement, or the Transaction;

(l) **Necessary Steps** – Take all
actions, steps and Proceedings that are necessary or desirable to approve or authorize, or to validly and effectively undertake, the execution
and delivery of this Agreement and the completion of the transactions contemplated by this Agreement;

(m) **Pay Liabilities** – Pay and
discharge all Liabilities and obligations of the Target and the Business in the ordinary and usual course of business consistent with
past business practice, except for liabilities or obligations as may be contested in good faith;

(n) **Maintenance of Books and Records** – Maintain the books and records of the Target in the usual, regular and ordinary manner, consistent with accepted accounting practices;

(o) **Regulatory Approvals –** Use
commercially reasonable efforts to execute all undertakings and comply with all requirements of the applicable Securities Laws, the TSXV,
and any other Persons or Government Authority, which may be necessary or reasonable to obtain the necessary approvals under applicable
laws and stock exchange requirements to the transactions contemplated hereunder;

(p) **Representations and Warranties** –
Use commercially reasonable efforts to ensure that, immediately prior to the Closing Time, the representations and warranties of the Vendor
and Target set out in this Agreement will be true and correct in all material respects; and

Notwithstanding anything set out in this Section 5.1, the Vendor may refrain from taking any action required to be taken by, or take any action restricted by, this Section 5.1 with the prior written consent of the Purchaser.

5.2 Covenants of the Purchaser

The Purchaser covenants and agrees with the Vendor and Target that during the period from the date of this Agreement to the Closing Time, the Purchaser shall do the following:

(a) **Access** – Permit the Vendor,
the Target and each of its respective employees, agents, technical and professional advisors and other Representatives, between the date
hereof and the Closing Date, upon reasonable advance notice to the Purchaser of such proposed access, to have reasonable access during
normal business hours, without interruption to any business being carried out by the Purchaser on the premises, to the premises and such
employees, all as may be authorized by the Purchaser, for the purposes of accessing and reviewing the books and records of the Purchaser,
and shall furnish, and require that the Purchaser's principal bankers, independent auditors, counsel, technical advisors and other
advisors furnish, to the Vendor, such financial, technical and operating data and other information as the Vendor shall from time to time
reasonably request to enable confirmation of the matters represented and warranted in Part 4;

(b) **Conduct of Business in Ordinary and Usual Course** – Except as otherwise provided in this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) conduct its business in the ordinary and usual course consistent with past practices and in conformance
with good practices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) not, without the prior written consent of the Vendor:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) dispose of any of its properties or assets out of the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) appoint or permit the appointment of a liquidator, receiver, trustee in bankruptcy, or similar official;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) request an order by a Government Authority for the winding-up or dissolution of the Purchaser;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) issue any debt, equity or other securities in the Purchaser;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) borrow money or incur any Indebtedness for money borrowed in Purchaser, except in the ordinary course
of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F) make loans, advances or other payments, other than in the ordinary course of business or as required in
connection with this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G) pay any dividends, distribute, transfer, sell, assign or encumber in any way whatsoever any of its assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(H) alter or amend the articles or any other constating documents of the Purchaser in any manner, except as
required to give effect to the matters contemplated by this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I) other than in connection with this Agreement, enter into any transaction or material Contract or engage
in any business enterprise or activity different from that carried on by the Purchaser in the ordinary course of business;

(c) **Notice of Material Developments** –
Notify the Vendor and the Target as soon as the Purchaser or any of its directors, officers, employees, agents or technical and professional
advisors have determined that a state of facts exist which results in, or will result in:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any representation or warranty of the Purchaser set forth in this Agreement being untrue or incorrect
in any material respects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the breach of any covenant of the Purchaser set forth in this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the non-fulfillment of any conditions for the benefit of the Vendor set forth in this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) any material change in the business, operations, assets, liabilities, ownership, capital or financial
position of the Purchaser, or change in a material fact that has a Material Adverse Change on, or would reasonably be expected to have
a Material Adverse Change on, the Purchaser, except for the transactions contemplated by this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) any notice or other communication from any Person alleging that the Consent (or waiver, permit, exemption,
order, approval, agreement, amendment or confirmation) of such Person is required in connection with this Agreement or the Transaction
(and contemporaneously provide a copy of any such notice or communication to the other Party);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) any notice or other communication from any Government Authority in connection with this Agreement or the
Transaction (and contemporaneously provide a copy of any such notice or communication to the other Party); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) any material legal or regulatory Proceedings commenced or, to its knowledge, threatened against, relating
to or involving or otherwise affecting such Party or that relate to this Agreement, or the Transaction;

(d) **Necessary Steps** – Take all
necessary actions, steps and Proceedings to approve or authorize, or to validly and effectively undertake, the execution and delivery
of this Agreement and the completion of the transactions contemplated by this Agreement;

(e) **Comply with Laws** – Comply
with all Laws and all Authorizations, governing or affecting the business and operations of the Purchaser, except for failures to comply
which in the aggregate would not have a Material Adverse Change on the business and operations of the Purchaser, as applicable;

(f) **Pay Liabilities** – Pay and
discharge all Liabilities and obligations of the Purchaser in the ordinary and usual course of business consistent with past business
practice, except for liabilities or obligations as may be contested in good faith;

(g) **No Breach** – Not take any
action or omit to take any action which would, or would reasonably be expected to, result in a breach of or render untrue any representation,
warranty, covenant, agreement, term or other obligation of the Purchaser contained herein;

(h) **Consents, Notices and Authorizations** –
Use commercially reasonable efforts to ensure that all Consents and Notices have been received or given; and those Consents and Notices
which have already been received or given to be maintained effective, as the case may be, prior to the Closing Date;

(i) **Preserve Business** – Use commercially
reasonable efforts to carry on the business and operations of the Purchaser as currently conducted;

(j) **Maintenance of Books and Records** –
Maintain the books and records of the Purchaser in the usual, regular and ordinary manner, consistent with accepted accounting practices;

(k) **Free Cash** – As of immediately
prior to the Closing Date, the Purchaser shall have no less than CAN$700,000 free cash (after deducting the Transaction expenses). For
the purposes of this covenant and Section 6.3(e), "free cash" shall mean cash and cash equivalents that (a) are not subject
to any Encumbrances, or restrictions on use, and are readily available for the Purchaser's general corporate purposes, and (b) are
net of any Liabilities of the Purchaser, including for any professional or advisory services rendered to the Purchaser prior to or on
the Closing Date. The Purchaser shall provide evidence satisfactory to the Vendor, at least three (3) of Business Days prior to the Closing
Date, demonstrating compliance with this covenant. Such evidence may include, but is not limited to, bank statements, financial statements,
or a certificate from the Purchaser's Chief Financial Officer;

(l) **Regulatory Approvals** – Use
commercially reasonable efforts to assist the Vendor to obtain and comply with all requirements of any Persons or Government Authority,
which may be necessary or reasonable to obtain the necessary approvals under applicable Laws to the transactions contemplated hereunder;
and

(m) **Representations and Warranties** –
Use commercially reasonable efforts to ensure that, immediately prior to Closing Time, the representations and warranties of the Purchaser
set forth in this Agreement will be true and correct in all material respects.

5.3 Mutual Covenants

Each of the Parties covenants and agrees that, as applicable, during the period from the date of this Agreement to Closing Time, such Party shall:

(a) **Satisfy Conditions** – Use
all commercially reasonable efforts to satisfy or cause the satisfaction of the mutual conditions precedent that are set out in Part 7
(and in the case of the Vendor, the conditions precedent that are set out in Part 8, and in the case of the Purchaser, the conditions
precedent that are set out in Part 9) and to take, or cause to be taken, all other actions and do, or cause to be done, all other things
necessary, proper or advisable under applicable Laws to consummate the transactions contemplated by this Agreement, including using commercially
reasonable efforts to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) ensure that all Consents and Notices are given or received; and those Consents and Notices which have
already been received or given be maintained effective, as the case may be;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) there shall have been no action taken under any Law or by any government or Government Authority which
makes it illegal or otherwise directly or indirectly restrains, enjoins or prohibits the completion of the transactions contemplated in
this Agreement;

(b) **Valuation** – The Purchaser
will have obtained or caused the Vendor or Target to obtain and provide to the Purchaser, a valuation report (the "**Valuation Report**") (in a form acceptable to the Parties acting reasonably), on a reliance basis, determining the fair market value
of the Target Shares (the "**Target FMV** "). The Valuation
Report will evidence that the Target FMV is equal or greater than $14,000,000.

(c) **Cooperation** – Use all commercially
reasonable efforts to cooperate with each other Party in connection with the performance by the other Party of its obligations under this
Part 5;

(d) **Other Actions** – Use all commercially
reasonable efforts to ensure compliance with all the conditions in Parts 7, 8 and 9; and

(e) **Rectification of Corporate Records** -
The Parties and their respective officers and directors will, in consultation and cooperation with one another, rectify all material deficiencies
and irregularities in the corporate records, record-keeping, resolutions, minutes, registers and other similar and related corporate documents
customarily maintained in a body corporate's minute books as such deficiencies and irregularities are identified by the other Party,
as soon as practicable following the execution of this Agreement and, in any event, prior to the Closing Date, to the satisfaction of
the other Party, acting reasonably.

The foregoing conditions are for the mutual benefit of the Parties hereto and may be waived by mutual consent of the Vendor, the Target, and the Purchaser in writing at any time. If any of such conditions shall not be complied with or waived as aforesaid on or before the Closing Date or, if earlier, the date required for the performance thereof, then, subject to Section 13.3, any Party hereto may terminate this Agreement by written notice to the other in circumstances where the failure to satisfy any such condition is not the result, directly or indirectly, of a breach of this Agreement by such rescinding Party hereto.

5.4 Alternative Transaction

The Vendor, the Target and the Purchaser hereby covenant that, from the date hereof until the earlier of: (i) the Closing Time; (ii) this Agreement having been terminated pursuant to and in accordance with Part 12; and (iii) the Termination Date, it will:

(a) not directly or indirectly through any Representative take any action of any kind which could reasonably
be construed to reduce the likelihood of success of consummating the Transaction, including but not limited to any action to continue,
solicit, initiate, assist or encourage enquiries, submissions, proposals or offers from any other Person, entity or group relating to,
and will not participate in any discussions or negotiations regarding or furnish to any other Person, entity or group any information
with respect to, or otherwise cooperate in any way with or assist or participate in, or facilitate or encourage any effort or attempt
with respect to an Alternative Transaction;

(b) promptly notify the other Parties if it becomes aware that any proposal in respect of any Alternative
Transaction has been made, or it or any of its Representatives has received any inquiry from or contact with any Person with respect thereto,
and advise the Purchaser of the content of any such proposal and, if written, provide the Purchaser with copies; and

(c) cease any and all negotiations with any third party in respect of any Alternative Transaction, and not
release any such third party from its obligations under any confidentiality agreement or other similar agreement.

5.5 Facilitation of Transaction

Without limiting Section 5.4, each of the Vendor, the Target and the Purchaser will use commercially reasonable efforts to satisfy each of the conditions precedent to be satisfied by it and to take, or cause to be taken, all other actions and to do, or cause to be done, all other things necessary, proper or advisable under applicable Laws, including applicable Securities Laws, to permit the completion of the Transaction in accordance with the provisions of this Agreement and other applicable agreements and instruments, and to consummate and make effective all other transactions contemplated in and by this Agreement and other applicable agreements and instruments, and each will cooperate with each other, to the extent applicable, in connection with the foregoing, including:

(a) executing and delivering the applicable Closing Documents on or before the first Business Day preceding
the Closing Date;

(b) preparing the Filing Statement;

(c) furnishing to one another, on a timely basis, all such information as may be required to prepare and submit
the Filing Statement to the TSXV and complete the other actions required under this Section 5.5, and each hereby covenants that no information
so furnished by it in writing in connection with such actions or otherwise in connection with the consummation of this Agreement will
contain any untrue statement of a material fact or omit to state a material fact required to be stated in order to make any information
so furnished, in light of the circumstances in which they were made, not misleading;

(d) ensuring that the information relating to it disclosed in the Filing Statement will not contain any misrepresentation;

(e) promptly notifying one another if at any time before or after the Closing Time either Party becomes aware
that the Filing Statement contains a misrepresentation or any untrue statement of a material fact or omits to state a material fact required
to be stated therein or necessary to make the statements contained therein not misleading in light of the circumstances under which they
were made and cooperate in the preparation of a supplement or
amendment to the Filing Statement, as the case may be, that corrects any such misstatement or omission;

(f) ensuring that the Filing Statement is prepared in compliance with the applicable provisions of the rules
of TSXV and applicable Securities Laws;

(g) cooperate with each other in connection with the preparation of documentation for submission to TSXV and
any other applicable regulatory authorities and keep each other informed of any requests or comments made by regulatory authorities in
connection with such documentation;

(h) using commercially reasonable efforts to provide notice to, and obtain all necessary Consents and Authorizations,
the failure of which to obtain would prevent the Parties from effecting the Transaction or would result in a Material Adverse Change on
the value of the Target Shares, the Business or the operations concerning the Purchaser;

(i) using commercially reasonable efforts to effect or cause to be effected all necessary registrations and
filings and submissions of information requested of it by any Government Authority, the failure of which to obtain would prevent the Parties
hereto from effecting the Transaction or would result in a Material Adverse Change on the value of the Target Shares, the Business or
the operations concerning the Target or the Purchaser;

(j) using commercially reasonable efforts to lift or rescind any injunction or restraining order or other
order which may be entered against it, which injunction or order would prevent the Parties hereto, as applicable, from completing the
Transaction;

(k) cooperating with each other in connection with any lawsuits or legal Proceedings brought against any party
or any Affiliate thereof challenging this Agreement, the completion of the Transaction and keeping each other informed of any material
information that becomes known to them in connection therewith;

(l) complying promptly with all requirements imposed by Law on its or its subsidiaries with respect to this
Agreement; and

(m) not taking any action, or refraining from taking any commercially reasonable action, or permitting any
action to be taken or not taken, which is inconsistent with this Agreement or which would reasonably be expected to prevent, delay or
otherwise impede the consummation of the Transaction, as applicable.

5.6 Confidentiality

(a) The Parties will, and will cause their Representatives to, treat any data and information obtained with
respect to the Parties, or any of their Affiliates or associates, from any Representative, officer, director or employee of the Parties,
or from any books or records of the Parties, confidentially and with commercially reasonable care and discretion, and will not disclose
any such information to third parties; provided, however, that the foregoing shall not apply to: (i) information in the public domain
or that becomes public through disclosure in accordance with applicable Law, (ii) information that is required to be disclosed by applicable
Law, (iii) information that is disclosed by Parties or their Affiliates or associates, on a confidential basis, to any of their respective
agents, accountants, attorneys and prospective lenders or investors in connection with or related to the consummation this Agreement,
including the financing of this Agreement, or (iv) any information that is disclosed by the Parties after the Closing Time.

(b) In the event that this Agreement is terminated, the Vendor and the Purchaser, upon the written request
of the other, will, and will cause their Representatives to, promptly deliver to the other any and all documents or other materials furnished
by the disclosing Party or their respective Affiliates in connection with this Agreement without
retaining any copy thereof. In the event of such request, all other documents, whether analyses, compilations or studies, that contain
or otherwise reflect the information furnished by the disclosing Party, shall be destroyed by the receiving Party or shall be returned
and such receiving Party shall confirm in writing that all such materials have been returned or destroyed. No failure or delay by the
Parties in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise
thereof preclude any other or further exercise thereof or the exercise of any right, power or privilege hereunder.

(c) The Vendor and the Purchaser recognize and agree that in the event of a breach by either of this section,
money damages would not be an adequate remedy for such breach and, even if money damages were adequate, it would be impossible to ascertain
or measure with any degree of accuracy the damages sustained therefrom. Accordingly, if there should be a breach or threatened breach
by the receiving Party of the provisions of this section, the disclosing Party, shall be entitled to an injunction restraining any breach
without showing or proving actual damage sustained by such disclosing Party. Nothing in the preceding sentence shall limit or otherwise
affect any remedies that the non-violating Party may otherwise have under applicable Law.

5.7 Public Announcements

Neither the Purchaser nor the Vendor will (and each such Party will use commercially reasonable efforts to cause its Representatives not to), issue any press release, make any public announcement or public filing, conduct any interviews, or furnish any written statement to its employees or shareholders generally concerning the or the Transaction or this Agreement without the consent of the other Party (such consent not to be unreasonably withheld), except to the extent required by applicable Laws or the rules of the TSXV or the NASDAQ as applicable (and in any such case, the Purchaser or the Vendor, as applicable, will, to the extent consistent with timely compliance with such requirement, consult with the other Party prior to making the required release, announcement, filing or statement).

5.8 Notification of Certain Matters

Between the date hereof and the Closing Time, the Parties will give prompt notice in writing to each other of:

(a) any information that indicates that any of its representations or warranties contained herein was not
true and correct as of the date hereof or will not be true and correct at and as of the Closing Time with the same force and effect as
if made at and as of the Closing Time (except for changes specifically permitted or contemplated by this Agreement),

(b) the occurrence of any event that will result, or has a reasonable prospect of resulting, in the failure
of any condition specified in Part 7, 8, or 9 hereof to be satisfied, and

(c) any notice or other communication from any third party alleging that the Consent of such third party is
or may be required in connection with the Transaction, or that the Transaction may otherwise violate the rights of or confer remedies
upon such third party.

5.9 Consents

Vendor and the Purchaser will use their commercially reasonable efforts to obtain all required third party Consents and Notices, Authorizations, permits, filings, assignments or waivers and amendments or terminations to any instrument or agreement and take such other measures as may be necessary to fulfil their obligations hereunder and to carry out the Transaction, including obtaining any shareholder approvals, Consents or agreements as may be required under applicable Laws the rules and policies of the TSXV and their constating documents to be able to fulfill their obligations hereunder and in connection with the delivery of all of the Closing Documents, as applicable.

5.10 Target Financial Statements

The Target hereby agrees that it will prepare and provide the Target Financial Statements in accordance with IFRS and ensure that:

(a) such Target Financial Statements present fairly in accordance with IFRS the consolidated financial position,
results of operations and changes in financial position of the Vendor and Target as of the date thereof and for the periods indicated
therein;

(b) such Target Financial Statements reflect appropriate and adequate reserves in respect of contingent liabilities
(including Taxes), if any, of the Vendor;

(c) with respect to the Target Financial Statements and any subsequent financial reporting periods for which
financial statements of the Vendor will be required to be included in the Filing Statement, ensure such annual financial statements are
audited or, if subsequent interim financial statements are required, such subsequent interim financial statements are reviewed, as applicable
pursuant to Policy 2.4 – *Capital Pool Companies* of the TSXV
Corporate Finance Manual, by an independent public accountant in accordance with the CPA Canada Handbook;

(d) with respect to material Contracts to which the Vendor or Target is a party and commitments for the sale
of goods or the provision of services by the Vendor, such Target Financial Statements contain and reflect adequate reserves for all reasonably
anticipated material losses and costs and expenses in excess of expected receipts; and

(e) any Material Adverse Change in the financial position of the Vendor subsequent to the date of the Target
Financial Statements will be adequately disclosed to the Purchaser and reflected in the subsequent Target Financial Statements, as necessary.

**PART 6**

**CLOSING**

6.1 Closing Date and Location

The transactions contemplated by this Agreement shall be completed at Closing Time on the Closing Date at the offices of MLT Aikins LLP, counsel to the Purchaser, at its offices located in Vancouver, British Columbia, or at such other time or at such other location as may be mutually agreed upon in writing by the Parties. In this regard the Parties shall use their commercially reasonable efforts to cause the Closing Date to occur on or before the Termination Date.

6.2 Closing

At the Closing:

(a) the Purchaser shall issue the Payment Securities to the Vendor and the Finders' Shares to the Finders;

(b) the Purchaser shall deliver to, or cause to be delivered to, the Vendor the documents set forth in Section
6.3; and

(c) the Vendor and the Target will deliver, or cause to be delivered, to the Purchaser the documents set forth
in Section 6.4.

6.3 Deliveries by Purchaser at Closing

At or before Closing Time, the Vendor and/or the Vendor's counsel shall have received from the Purchaser the following:

(a) a certificate of the Purchaser, duly executed by a senior officer of the Purchaser, on behalf of the Purchaser
and not in such officer's personal capacity, stating that, except as disclosed in such certificate,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the representations and warranties of Purchaser contained in this Agreement are true, accurate and complete in all material respects
as at Closing Time,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Purchaser's covenants and obligations hereunder has been satisfied and performed, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) each of the conditions for the benefit of the Purchaser set forth in Section 8.1 has been satisfied or waived;

(b) a certificate of good standing of the Purchaser;

(c) a duly executed Contingent Right Certificate representing 66,000,000 Purchaser Contingent Rights delivered
to the Escrow Agent appointed under the TSXV Escrow Agreement;

(d) a direct registration statement issued by Endeavor Trust Corporation to each of the Finders representing
the Finders' Shares issuable to each Finder;

(e) evidence satisfactory to the Vendor that as of three (3) Business Days prior to the Closing Date, the
Purchaser has no less than CAN$700,000 in free cash;

(f) certified copies of the resolutions of the directors and shareholders of the Purchaser evidencing the
approval of this Agreement and all of the transactions of the Purchaser contemplated hereunder;

(g) a copy of the share certificates or direct registration statements representing the Payment Shares registered
in the name of the Vendor and delivered to the Escrow Agent appointed under the TSXV Escrow Agreement;

(h) resignations and releases in writing from each of the Legacy Directors and Legacy Officers of the Purchaser,
in a form acceptable to the Vendor;

(i) certified copies of the resolutions of the Purchaser filling vacancies and appointing the New Directors
and New Officers as contemplated in Section 2.4;

(j) certified copies of the resolutions of the Purchaser changing its name to "Impact Technologies Corp."
or such other name as contemplated by Section 2.5;

(k) all necessary Consents and Notices and Authorizations, including, if applicable, the approval of the TSXV,
as the case may be, required to enable the transfer of the Target Shares to the Purchaser as provided for in this Agreement and to permit
the Purchaser to carry on the Business as currently conducted, all in form and substance satisfactory to the Purchaser, acting reasonably;

(l) the TSXV Escrow Agreement duly executed by the Purchaser; and

(m) such other documents, certificates, opinions and deliveries as the Parties mutually consider reasonably
necessary or desirable in connection with this Agreement.

6.4 Deliveries by Vendor at Closing

At or before Closing Time, the Purchaser, and the Purchaser's counsel shall have received from the Vendor the following:

(a) a certificate of the Vendor and the Target, duly executed by a senior officer of the Vendor and the Target,
on behalf of the Vendor and the Target and not in such officer's personal capacity, stating that, except as disclosed in such certificate,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the representations and warranties of each of the Vendor and Target contained in this Agreement are true, accurate and complete in
all material respects as at Closing Time,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) each of the Vendor's and the Target's covenants and obligations hereunder has been satisfied and performed, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) each of the conditions for the benefit of the Vendor and the Target set forth in Section 9.1 has been satisfied or waived;

(b) the TSXV Escrow Agreement duly executed by the Vendor and the Escrowed Securityholders;

(c) certified copies of the resolutions of the directors and shareholders, as the case may be, of the Vendor
and the Target evidencing that each of the Vendor and the Target has approved this Agreement and all of the transactions of the Vendor
and Target contemplated hereunder including the sale and transfer of the Target Shares to the Purchaser as provided for herein;

(d) consents in writing to act as directors of the Purchaser duly signed by Viki Hakmon, Liat Sidi, Tamir
Fayerman, Ohad David, and Asaf Itzhaik;

(e) all instruments of conveyance and transfer, in form and substance reasonably acceptable to the Purchaser,
as may be necessary to transfer the Target Shares to the Purchaser or a permitted assignee of the Purchaser;

(f) such other agreements and documents as Purchaser may reasonably require to give effect to the assignment
and transfer to Purchaser of the Target Shares;

(g) the Books and Records in the possession of the Vendor; and

(h) such other documents, certificates, and deliveries as the Parties mutually consider reasonably necessary
or desirable in connection with this Agreement.

**PART 7**

**MUTUAL CONDITIONS PRECEDENT**

7.1 Mutual Conditions Precedent

The obligations of the Parties to complete the Transaction shall be subject to the satisfaction of, or compliance with, at or before Closing Time, each of the following conditions precedent:

(a) **No Prohibitions** – No Law
or Judgment will have been enacted, entered, promulgated or enforced by any Government Authority which enjoins or prohibits the consummation
of any of the transactions contemplated by this Agreement;

(b) **Satisfactory due diligence** –Each
Party shall have completed due diligence to its satisfaction on the other Party, solely with the extent to matters related to the Transaction
and as to be determined in each Party's sole discretion;

(c) **Tax Ruling** – The Vendor shall
have obtained a "Pre Ruling" ()"**Tax Ruling** ")
approval for the Transaction from the Israeli Tax Authority in accordance with Section 103T of the Income Tax Ordinance (New Version),1961,
which confirms that the Transaction complies with the conditions set forth in Section 103 and therefore, can be carried out as a tax free
transaction;

(d) **No Proceedings** – No Proceeding
will have been instituted or be pending for an injunction to restrain, or a declaratory Judgment in respect of damages on account of or
relating to, the transactions contemplated by this Agreement and, to the best of the knowledge of the Parties, no such Proceeding will
have been threatened or announced; and

(e) **No Termination** – This Agreement will not have been terminated
pursuant to Part 12.

7.2 Notice and Cure Provisions

Each of the Vendor, on the one hand, and the Purchaser, on the other hand, will give prompt notice to the other of the occurrence, or failure to occur, at any time from the date hereof until the Closing Time, of any event or state of facts which occurrence or failure would, or would reasonably be likely to:

(a) constitute a material breach of any of its representations or warranties contained herein or which would
cause such representations and warranties to be untrue or incorrect in any material respect at the Closing Time; or

(b) result in the failure to comply with or satisfy any covenant, condition or agreement to be complied with
or satisfied by the other hereunder prior to the Closing Date or Closing Time, as applicable.

Neither the Vendor, on the one hand, nor the Purchaser, on the other hand, may elect not to complete the transactions contemplated under this Agreement pursuant to any of the conditions precedent contained in Parts 7, 8, or 9, or exercise any termination right arising therefrom, unless forthwith and in any event prior to the Closing Time, the Vendor or the Purchaser, as the case may be, has delivered a written notice to the other specifying in reasonable detail all breaches of covenants, representations and warranties or other matters which the Vendor or the Purchaser, as the case may be, is asserting as the basis for the non-fulfillment of the applicable condition precedent or the exercise of the termination right, as the case may be. If any such notice is delivered, provided that the Vendor or the Purchaser, as the case may be, is proceeding diligently to cure such matter, if such matter is capable of being cured, the other may not terminate this Agreement until the earlier of the Termination Date and the expiration of a period of 30 days from such notice.

**PART 8**

**PURCHASER'S CONDITIONS PRECEDENT**

8.1 Purchaser's Conditions

The obligations of the Purchaser to complete the purchase of the transactions contemplated by this Agreement shall be subject to the satisfaction of, or compliance with, at or before Closing Time, each of the following conditions precedent:

(a) **Truth and Accuracy of Representations of the Vendor at Closing** – The representations and warranties of the Vendor and the Target made in Part 3 shall be true, correct
in all material respects and not misleading at Closing and with the same effect as if made at and as of Closing, provided that any inaccuracies
in the representations and warranties that are deemed to be immaterial to the overall transaction shall not be used by the Purchaser
as a basis to delay Closing or adjust the Purchase Price;

(b) **Performance of Obligations** –
The Vendor and Target shall have performed and complied with all of its respective obligations, covenants and agreements to be performed
and complied with by it pursuant to this Agreement;

(c) **Absence of Material Adverse Change** –
No event shall have occurred or condition or situation shall have arisen or Law shall have been introduced which might reasonably be expected
to have a Material Adverse Change upon on the value of the Target Shares, the Business or the operations concerning the Target;

(d) **Consents and Notices** – All
Consents and Notices, including the Vendor Authorizations and any such Authorizations necessary for the sale of the Target Shares, have
been received or given, as the case may be, in form and substance satisfactory to the Purchaser, acting reasonably, other than Consents
and Notices which are routinely delivered post-Closing; and

(e) **Authorizations** – All Authorizations
required to permit the Purchaser to carry on the Business as currently conducted after the Closing Time have been obtained, all in form
and substance satisfactory to the Purchaser, acting reasonably.

8.2 Waiver

The conditions set forth in this Part 8 are for the exclusive benefit of the Purchaser and may be waived by the Purchaser in writing, in whole or in part, on or before the Closing Date. Notwithstanding any such waiver, the completion of the purchase and sale contemplated by this Agreement by the Purchaser shall not prejudice or affect in any way the rights of the Purchaser in respect of the warranties and representations of the Vendor in this Agreement.

**PART 9**

**VENDOR'S CONDITIONS PRECEDENT**

9.1 Target's and Vendor's Conditions

The obligations of the Vendor and the Vendor to complete the transactions contemplated by this Agreement shall be subject to the satisfaction of, or compliance with, at or before Closing Time, each of the following conditions precedent:

(a) **Truth and Accuracy of Representations of the Purchaser at Closing** – The representations and warranties of the Purchaser made in Part 4 shall be true, correct and
not misleading at Closing and with the same effect as if made at and as of Closing, provided that any inaccuracies in the representations
and warranties that are deemed to be immaterial to the overall transaction shall not be used by the Vendor as a basis to delay Closing
or to adjust the Purchase Price;

(b) **Performance of Agreements** –
The Purchaser shall have performed and complied with all of the obligations, covenants and agreements to be performed and complied with
by it pursuant to this Agreement;

(c) **Absence of Materially Adverse Change -** No
event shall have occurred or condition or situation shall have arisen or Law shall have been introduced which might reasonably be expected
to have a material adverse change upon the Purchaser; and

(d) **Consents and Notices** – All
Consents and Notices have been received or given, as the case may be, in form and substance satisfactory to the Vendor and Target, acting
reasonably.

9.2 Waiver

The conditions set forth in this Part 9 are for the exclusive benefit of the Vendor and the Target and may be waived by the Vendor and the Target in writing, in whole or in part, on or before the Closing Date. Notwithstanding any such waiver, completion of the purchase and sale contemplated by this Agreement by the Vendor and the Target shall not prejudice or affect in any way the rights of the Vendor and the Target in respect of the warranties and representations of the Purchaser set forth in this Agreement.

**PART 10**

**FURTHER ASSURANCES**

10.1 Further Assurances

The Vendor will from time to time upon reasonable notice after the Closing execute and deliver to the Purchaser all such conveyances, transfers, assignments and other instruments in writing and further assurances as the Purchaser may reasonably require from the Vendor, and the Purchaser will execute and deliver to the Vendor all such agreements of assumption and other instruments in writing and further assurances as the Vendor may reasonably require from the Purchaser, in order to give effect to the provisions hereof. Subject to prior written approval, all costs and expenses incurred by a Party at the request of the other in providing such conveyances, assignments, assumptions and other instruments and further assurances shall be for the account of the requesting Party.

**PART 11**

**INDEMNITIES**

11.1 Indemnification of Purchaser by Vendor

The Vendor covenants and agrees with the Purchaser to indemnify the Purchaser and each of its respective officers, directors, managers, members, employees, agents, successors and assigns against all Proceedings, liabilities, obligations, claims, demands, damages, losses, costs and expenses (including reasonable legal fees) suffered or incurred by the Purchaser, directly or indirectly (the "**Purchaser's Losses**"), by reason of or arising out of any of the following:

(a) any warranties or representations on the part of the Vendor and the Target hereunder being untrue;

(b) a breach of any agreement, term or covenant on the part of the Vendor and the Target made or to be observed
or performed under this Agreement, except for breaches that are de minimis or that are remedied by the Vendor within ten (10) Business
Days after notice thereof; or

(c) any Purchaser's Losses, legal causes of which arise prior to the Closing Date and arising from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) all Taxes of the Vendor and the Target and all interest and penalties thereon due and payable to all applicable
Government Authorities; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any Proceedings pending or, to the best of the knowledge of the Vendor and the Target, threatened against,
or relating to the Vendor or Target and Judgments outstanding against the Vendor and the Target on or prior to the Closing Date.

11.2 Claims Under Vendor's Indemnities

If any claim is made by any Person against the Purchaser in respect of which the Purchaser may incur or suffer damages, losses, costs or expenses, directly or indirectly, that might reasonably be considered to be subject to the indemnification obligations of the Vendor in Section 11.1, the Purchaser shall notify the Vendor where indemnification is sought under Section 11.1 (in this Section 11.2, as applicable, the "**Indemnitor**") as soon as reasonably practicable of the nature of such claim and the Indemnitor shall be entitled (but not required) to assume the defense of any suit brought to enforce such claim. The Purchaser's omission to so notify the Indemnitor shall not relieve the Indemnitor of any liability which the Indemnitor may have under the indemnity in Section 11.1, except only to the extent that any such delay in, or failure to give, notice as herein required prejudices the defense, settlement or mitigation of a claim or results in any material increase in the Purchaser's Losses. The defense of any such claim (whether assumed by the Indemnitor or not) shall be through experienced and competent legal counsel, and shall be conducted in a manner acceptable to the Purchaser, and the Indemnitor, acting reasonably, and no settlement may be made or permitted to be made, as applicable, by the Indemnitor or the Purchaser without the prior written consent of the other. If the Indemnitor assumes the defense of any claim then:

(a) the Purchaser and their counsel shall cooperate with the Indemnitor and its counsel in the course of the
defense, such cooperation to include providing or making available to the Indemnitor and its counsel documents and information and witnesses
for attendance at examinations for discovery and trials;

(b) the reasonable legal fees and disbursements and other costs of such defense shall, from and after such
assumption, be borne by the Indemnitor on a solicitor and own client basis; and

(c) if the Purchaser retains additional counsel to act on its behalf, the Indemnitor and its counsel shall
cooperate with the Purchaser and their counsel, such cooperation to include providing or making available to the Purchaser and their counsel
documents and information and witnesses for attendance at examinations for discovery and trials; provided that all fees and disbursements
of such additional counsel shall be paid by the Purchaser on a solicitor and own client basis, unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Indemnitor consents to the retention of such counsel by the Purchaser at the Indemnitor's expense;
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Indemnitor and the Purchaser are or become parties to the same action, and the representation of all
parties by the same counsel would be inappropriate due to a conflict of interest,

in which case all fees and disbursements of the Purchaser's counsel shall be paid by the Indemnitor on a solicitor and own client basis.

If the Indemnitor has not assumed the defense of a claim and employed counsel therefor within 30 days of receiving notice of such claim, all reasonable fees and disbursements of the Purchaser's counsel in respect of such claim shall be paid by the Indemnitor on a solicitor and own client basis. If the Indemnitor, having elected to assume the defense of any claim, thereafter, fails to defend such claim within a reasonable time and with reasonable diligence, the Purchaser shall be entitled to assume the defense of the claim and the Indemnitor shall be bound by the results obtained by the Purchaser with respect to such claim.

In the event that any claim is of a nature such that the Purchaser is required by applicable Law or any Judgment to make payment to any Person or Government Authority with respect to such claim before the completion of settlement negotiations or legal Proceedings, the Purchaser may make such payment and the Indemnitor shall, forthwith after demand by the Purchaser reimburse the Purchaser for any such claim. If the amount of any liability of the Purchaser under the claim in respect of which such a payment was made, as finally determined, is less than the amount which was paid by the Indemnitor to the Purchaser, the Purchaser shall promptly pay the amount of such difference to the Indemnitor. The Purchaser shall not knowingly permit any right of appeal in respect of any claim to terminate without giving the Indemnitor reasonable notice thereof and a reasonable opportunity to contest such claim.

For avoidance of doubt, references in this Section 11.2 to the Purchaser shall also include each of its respective officers, directors, managers, members, employees, agents, successors and assigns.

11.3 Indemnification Limitations

Notwithstanding the foregoing, (a) the Vendor shall not be liable for any indemnifiable claims unless and until the aggregate amount of such claims, excluding legal fees, exceeds $100,000 (the "**De Minimis Amount**"), provided that once the aggregate amount of such claims exceeds the De Minimis Amount, the Vendor shall be liable for the entire payment, including the De Minimis Amount and reasonable legal fees, and (b) the total liability for the Vendor for all indemnifiable claims arising under this Agreement shall not exceed $1,000,000, except for claims involving fraud or fraudulent misrepresentation, which shall not be subject to this limitation. The parties further acknowledge and agree that their sole and exclusive remedy with respect to any and all claims (other than claims for fraud or fraudulent misrepresentation) for any breach or inaccuracy of any representation, warranty, covenant, agreement or obligation set forth in this Agreement or otherwise relating to the transactions contemplated in this Agreement shall be pursuant to the indemnification provisions set forth in this Part 11.

11.4 Indemnification of Vendor by Purchaser

The Purchaser covenants and agrees with the Vendor to indemnify the Vendor and its respective officers, directors, managers, members, employees, agents, successors and assigns against all Proceedings, liabilities, obligations, claims, demands, damages, losses, costs and expenses (including legal fees on a solicitor and own client basis) suffered or incurred by the Vendor, directly or indirectly (the "**Vendor's Losses**"), by reason of or arising out of any of the following:

(a) any warranties or representations on the part of the Purchaser hereunder being untrue;

(b) a breach of any agreement, term or covenant on the part of the Purchaser made or to be observed or performed
under this Agreement; or

(c) any Vendor's Losses, legal causes of which arise following the Closing Date and arising from any
Proceedings pending or, to the best of the knowledge of the Purchaser, threatened against, or relating to the Purchaser and Judgments
outstanding against the Purchaser.

11.5 Claims Under Purchaser's Indemnities

If any claim is made by any Person against the Vendor in respect of which the Vendor may incur or suffer damages, losses, costs or expenses, directly or indirectly, that might reasonably be considered to be subject to the indemnification obligations of the Purchaser in Section 11.4, the Vendor shall notify the Purchaser, where indemnification is sought under Section 11.4 (in this Section 11.5, as applicable, the "**Indemnitor**") as soon as reasonably practicable of the nature of such claim and the Indemnitor shall be entitled (but not required) to assume the defense of any suit brought to enforce such claim. The Vendor's omission to so notify the Indemnitor shall not relieve the Indemnitor of any liability which the Indemnitor may have under the indemnity in Section 11.4, except only to the extent that any such delay in, or failure to give, notice as herein required prejudices the defense, settlement or mitigation of a claim or results in any material increase in the Vendor's Losses. The defense of any such claim (whether assumed by the Indemnitor or not) shall be through experienced and competent legal counsel, and shall be conducted in a manner, acceptable to the Vendor and the Indemnitor, acting reasonably, and no settlement may be made or permitted to be made, as applicable, by the Indemnitor or the Vendor without the prior written consent of the other. If the Indemnitor assumes the defense of any claim then:

(a) the Vendor and their counsel shall cooperate with the Indemnitor and its counsel in the course of the
defense, such cooperation to include providing or making available to the Indemnitor and their counsel documents and information and witnesses
for attendance at examinations for discovery and trials;

(b) the reasonable legal fees and disbursements and other costs of such defense shall, from and after such
assumption, be borne by the Indemnitor on a solicitor and own client basis; and

(c) if the Vendor retains additional counsel to act on its behalf, the Indemnitor and its counsel shall cooperate
with the Vendor and its counsel, such cooperation to include providing or making available to the Vendor and its counsel documents and
information and witnesses for attendance at examinations for discovery and trials; provided that all fees and disbursements of such additional
counsel shall be paid by the Vendor on a solicitor and own client basis, unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Indemnitor consents to the retention of such counsel by the Vendor at the Purchasers' expense;
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Indemnitor and the Vendor are or become parties to the same action, and the representation of all
parties by the same counsel would be inappropriate due to a conflict of interest,

in which case all fees and disbursements of the Vendor's counsel shall be paid by the Indemnitor on a solicitor and own client basis.

If the Indemnitor has not assumed the defense of a claim and employed counsel therefor within 30 days of receiving notice of such claim, all reasonable fees and disbursements of the Vendor's counsel in respect of such claim shall be paid by the Indemnitor on a solicitor and own client basis. If the Indemnitor, having elected to assume the defense of any claim, thereafter, fails to defend such claim within a reasonable time and with reasonable diligence, the Vendor shall be entitled to assume the defense of the claim and the Indemnitor shall be bound by the results obtained by the Vendor with respect to such claim.

In the event that any claim is of a nature such that the Vendor is required by applicable Law or any Judgment to make payment to any Person or Government Authority with respect to such claim before the completion of settlement negotiations or legal Proceedings, the Vendor may make such payment and the Indemnitor shall, forthwith after demand by the Vendor reimburse the Vendor for any such claim. If the amount of any liability of the Vendor under the claim in respect of which such a payment was made, as finally determined, is less than the amount which was paid by the Indemnitor to the Vendor, the Vendor shall promptly pay the amount of such difference to the Indemnitor. The Vendor shall not knowingly permit any right of appeal in respect of any claim to terminate without giving the Indemnitor reasonable notice thereof and a reasonable opportunity to contest such claim.

For avoidance of doubt, references in this Section 11.5 to the Vendor shall also include each of their respective officers, directors, managers, members, employees, agents, successors and assigns.

11.6 Survival of Indemnities

The indemnities provided in this Part 11 will survive the Closing and shall continue in full force and effect for the benefit of the applicable Parties'; <u>provided</u>, that no claim may be made or brought by a Party pursuant to this Part 11 after the date that is eighteen (18) months following the Closing Date, except a claim for breach of any of the representations and warranties by the Vendor or the Purchaser in or pursuant to this Agreement involving fraud or fraudulent misrepresentation, subject only to applicable limitation periods imposed by applicable Law.

11.7 Indemnification Limitations

Notwithstanding the foregoing, (a) the Purchaser shall not be liable for any indemnifiable claims unless and until the aggregate amount of such claims, excluding legal fees, exceeds the De Minimus Amount, provided that once the aggregate amount of such claims exceeds the De Minimis Amount, the Purchaser shall be liable for the entire payment, including the De Minimis Amount and reasonable legal fees, and (b) the total liability for the Purchaser for all indemnifiable claims arising under this Agreement shall not exceed $1,000,000, except for claims involving fraud or fraudulent misrepresentation, which shall not be subject to this limitation. The parties further acknowledge and agree that their sole and exclusive remedy with respect to any and all claims (other than claims for fraud or fraudulent misrepresentation) for any breach or inaccuracy of any representation, warranty, covenant, agreement or obligation set forth in this Agreement or otherwise relating to the transactions contemplated in this Agreement shall be pursuant to the indemnification provisions set forth in this Part 11.

**PART 12**

**TERMINATION, AMENDMENT AND WAIVER**

12.1 Termination by the Purchaser

Subject to compliance with Section 7.2, the Purchaser may, when not in default in the performance of any of its obligations under this Agreement, without prejudice to any other rights, terminate this Agreement by written notice to the Vendor if:

(a) not all of the conditions precedent in Part 7 and 8 will be or have been satisfied or waived by the Purchaser
on or prior to the Termination Date;

(b) the Purchaser is not satisfied, in its sole discretion, acting reasonably, with the results of its due
diligence review and investigations;

(c) this Agreement or any other material part of the transactions contemplated herein cannot be completed
because the Vendor or the Target is in default under any of its covenants contained in Part 5;

(d) the audit and/or review, as applicable, of the Target Financial Statements in accordance with IFRS is
not completed by March 31, 2025, or such other date to be mutually agreed upon by the Parties, acting reasonably; or

(e) the Vendor or the Target breaches this Agreement in any material respect.

12.2 Termination by the Vendor

Subject to compliance with Section 7.2, the Vendor, when not in default in the performance of any of its obligations under this Agreement, may, without prejudice to any other rights, terminate this Agreement by written notice to the Purchaser if:

(a) not all of the conditions precedent in Part 7 and 9 will be or have been satisfied or waived by the Purchaser
on the Termination Date;

(b) the Vendor is not satisfied, in its sole discretion, acting reasonably, with the results of its due diligence
review and investigations;

(c) this Agreement or any other material part of the transactions contemplated herein cannot be completed
because the Vendor is in default under any of its covenants contained in Part 5 on the Termination Date; or

(d) the Purchaser breaches this Agreement in any material respect.

12.3 Effect of Termination

In the case of any termination of this Agreement pursuant to this Part 12, this Agreement, except in respect to any obligation hereunder which expressly survives termination in accordance with its terms, will be of no further force or effect provided that nothing herein will relieve any Party from its liability for any breach of this Agreement prior to such termination.

12.4 Amendment

The Agreement may not be modified or amended except by an instrument in writing duly executed by or on behalf of all of the Parties.

12.5 Extension and Waiver

At or any time prior to Closing Time, the Purchaser, the Vendor or Target may to the extent legally allowed:

(a) extend the time for the performance of any of the obligations or other acts of the other Parties;

(b) waive any inaccuracies in the representations and warranties made by the other Parties; and/or

(c) waive compliance with any of the agreements, covenants or conditions for the benefit of such Party contained herein.

Any agreement on the part of the Purchaser, the Vendor or Target to any such extension or waiver shall be valid only if set forth in an instrument in writing signed on their behalf.

**PART 13**

**GENERAL**

13.1 Expenses

All costs and expenses incurred in connection with the preparation, negotiation, implementation and execution of this Agreement and the transactions contemplated by this Agreement and in obtaining any necessary Consents and Notices, shall be paid by the party incurring such expenses or required to obtain such Consents and Notices, as applicable.

13.2 Arbitration

Any disagreement among the parties as to the interpretation or enforcement of this Agreement shall be resolved, failing agreement, by binding arbitration in accordance with the provisions of the *Arbitration Act* (British Columbia). The subject of all such arbitrations will be subject to any statutes of limitation applicable that would be applicable if the claims were litigated. All arbitration hearings will be conducted in Vancouver, British Columbia by an arbitrator agreed upon by the parties to the arbitration or, failing agreement, an arbitrator appointed under the *Arbitration Act* (British Columbia) upon application by any party for that purpose. In addition to all other powers, the arbitrator shall have the exclusive right to determine all issues of arbitrability. Judgment on any arbitration award may be entered in any court with jurisdiction. The cost of arbitration (other than a party's own costs) shall be borne equally by the parties.

13.3 Time

Time shall be of the essence hereof.

13.4 Notices

Any notice or other writing required or permitted to be given hereunder or for the purposes hereof shall be sufficiently given if delivered by courier or electronic transmission to the Party to whom it is given addressed to such Party at:

(a) If to the Purchaser:

Impact Acquisition Corp.

501 – 3292 Production Way,

Burnaby, British Columbia

V5A 4R4 Canada

Attention: Gabi Kabazo, Chief Financial Officer

Email: [\*\*\*]

with a copy (not to constitute notice) at:

MLT Aikins LLP

2600-1066 West Hasting Street

Vancouver, BC V6E 3X1

Attention: Mahdi Shams

Email: [\*\*\*]

(b) If to the Vendor or Target at:

Jeffs Brands Ltd

7 Mezada Street

Bnei Brak

Tel Aviv 5126112

Israel

Attention: Ronen Zalayet, Chief Financial Officer

Email: [\*\*\*]

with a copy (not to constitute notice) at:

Meitar Law Offices

16 Abba Hillel Road

Ramat-Gan 5250608 Israel

Telephone:+972-3-6103766

Attention: Dr. Shachar Hadar, Adv.

E-mail: [\*\*\*]

PAC Law

Attention: Peter Crawford

Email: [\*\*\*]

or at such other address as the Party to whom such writing is to be given shall have last notified to the Party giving the same in the manner provided in this clause. Any notice delivered by courier or facsimile to the Party to whom it is addressed shall be deemed to have been given and received on the Business Day next following the day it was delivered or telecopied.

13.5 Further Assurances

The Parties shall with reasonable diligence, do all such things and provide all such reasonable assurances as may be required to consummate the transactions contemplated by this Agreement, and each Party shall provide such further documents or instruments required by the other Party as may be reasonably necessary or desirable to give effect to the purpose of this Agreement and carry out its provisions whether before or after the Closing Date.

13.6 Enurement

This Agreement and each of the terms and provisions hereof shall inure to the benefit of and be binding upon the Parties and their respective heirs, executors, administrators, personal Representatives, successors and permitted assigns.

13.7 Assignment

This Agreement and the rights, duties and obligations of any Party hereunder are not assignable without the prior written consent of the other Party hereto.

13.8 Counterparts

This Agreement may be executed in any number of counterparts and may be signed and delivered by facsimile or other means of electronic communication producing a printed copy, each of which so signed shall be deemed to be an original. Such counterparts shall together constitute one and the same instrument and, notwithstanding the date of execution, shall be deemed to bear the date first written above.

13.9 Severability

Wherever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable Law. If any portion of this Agreement is declared invalid for any reason in any jurisdiction, such declaration shall have no effect upon the remaining portions of this Agreement which shall continue in full force and effect as if this Agreement had been executed with the invalid portions thereof deleted; provided, however, if such severability will negate in any material respect the monetary terms of this Agreement, then the Parties shall negotiate in good faith to amend the invalid terms in a manner so that such terms shall not be invalid and will not modify in any material respect the monetary terms of this Agreement unless otherwise agreed to by the Parties. Furthermore, the entirety of this Agreement shall continue in full force and effect in all other jurisdictions.

13.10 Entire Understanding

This Agreement, including the Schedules hereto, sets forth the entire agreement and understanding between the Parties with respect to the subject matter hereof and supersedes any and all prior discussions, negotiations, letters of intent or agreements in principle between them.

13.11 Binding Effect; No Third Party Beneficiaries

Except for the provisions of Part 11 relating to the officers, directors, managers, members, employees, agents, successors and assigns of each of the Vendor and the Purchaser (the "**Permitted Third Parties**"), this Agreement shall be binding upon and shall inure to the exclusive benefit of the Parties and their respective heirs, executors, administrators, legal representatives, successors and permitted assigns and nothing herein, express or implied, is intended to, nor shall it, confer on any other Person any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. The Parties agree that, for the purpose of giving enforceable rights under this Agreement to the Permitted Third Parties who are not party to this Agreement, the Vendor and the Purchaser, as the case may be, is contracting as agent of such Persons and will hold the rights of such Persons in trust for them.

13.12 Language

This Agreement has been negotiated and executed in the English language. The Parties agree and acknowledge that the English version of this Agreement shall prevail over any translation of the Agreement to the extent permitted by applicable Law.

***[Remainder of page intentionally left blank. Signature page to follow.]***

 ****

 ****

**IN WITNESS WHEREOF** the Parties have duly executed this Agreement as of the day and year first above written.

---

| | |
|:---|:---|
| **IMPACT ACQUISITIONS CORP.** | **IMPACT ACQUISITIONS CORP.** |
| Per: | /s/ *"Gabriel Kabazo"* |
|  | Authorized Signatory |
| **JEFFS BRANDS LTD** | **JEFFS BRANDS LTD** |
| Per: | /s/ *"Ronen Zalayet"* |
|  | Authorized Signatory |
| **FORT PRODUCTS LIMITED** | **FORT PRODUCTS LIMITED** |
| Per: | */s/ "Ronen Zalayet"* |
|  | Authorized Signatory |

---

*[Signature Page to Share Purchase Agreement]*

**SCHEDULE A**

**CONTRACTS**

[\*\*\*]

**SCHEDULE B**

**FORM OF CONTINGENT RIGHT CERTIFICATE**

**CONTINGENT RIGHTS CERTIFICATE**

**Impact Acquisition Corp., a corporation existing under the laws of British Columbia (the "Company")**

&nbsp;&nbsp;CONTINGENT RIGHT CERTIFICATE NO. <u>CVR-001</u>

&nbsp;&nbsp;66,000,000 CONTINGENT RIGHTS, each entitling the holder thereof to acquire Common Shares.

THIS IS TO CERTIFY THAT **JEFFS BRANDS LTD** (the "**Holder**") is the registered holder of the number of Contingent Rights specified above ("**Contingent Rights**"). The Contingent Rights represented by this Certificate entitles the Holder, to receive Common Shares of the Company, on the terms and conditions set forth in this Certificate.

This Certificate is issued pursuant to that share purchase agreement dated February 6, 2025 (the "**Purchase Agreement**") among the Company and Jeffs Brands Ltd (a corporation existing under the laws of Israel) ("**Jeffs Brands**"). In the event of any conflict between the terms of this Certificate and the Purchase Agreement, the terms of this Certificate shall prevail.

1. INTERPRETATION

1.1 <u>Definitions</u>. Capitalized terms used in this Certificate, to the extent not otherwise defined herein,
shall have the same meaning as in the Purchase Agreement. The terms set forth below shall have the meanings ascribed to them below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "**Adjustment Period** "
means the period of time in which these Contingent Rights are outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **"Common Shares**" means the common shares in the
capital of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "**Contingent Right Shares** "
means, any time, the Common Shares issuable pursuant to the Contingent Rights then represented by this Certificate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "**Exchange**" means the TSX Venture Exchange;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "**Expiry Date**" means:
(a) with respect to the achievement of Milestone B (as defined below), forty-eight (48) months from the closing of the Purchase Agreement
(the "**Closing Date**") and (b) with respect to the achievement
of Milestone C (as defined below), December 31, 2028, provided that the Expiry Date shall be extended until the date of issuance of the
audited financial statements for such periods;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) "**Expiry Time**" means 5:00 p.m. (Vancouver time)
on the Expiry Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) "**Termination Date** "
means, the date that is the later of (i) the Expiry Time; (ii) the date all of the Contingent Right Shares issuable hereunder, are issued
in accordance with this Certificate; (iii) the expiration of the Dispute Period in respect of the General Non-Achievement Notice, without
delivery of a Dispute Notice, and (iv) in the case of delivery of one or more Dispute Notices, the date agreed upon by
the Holder and the Company or a court of competent jurisdiction in respect of the last Dispute Notice; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) "**Unissued Shares**" means, at any time, all of the
Contingent Rights Shares that are then unissued.

1.2 <u>Currency</u>. All sums of money which are referred to as: (a) "C$" in this Certificate
refer to lawful currency of Canada; and (b) "US$" in this Agreement refer to United States dollars, unless otherwise specified.

1.3 <u>Interpretation Not Affected by Headings, etc.</u>. The division of this Certificate into articles,
sections and other portions and the insertion of headings are for convenience of reference only and shall not affect the construction
or interpretation of this Certificate. Unless otherwise indicated, any reference in this Certificate to an Article, Section or a Schedule
refers to the specified Article or Section of, or Schedule to, this Certificate.

1.4 <u>Number, etc.</u>. Unless the subject matter or context requires the contrary, words importing the singular
number only shall include the plural and vice versa; words importing the use of any gender shall include all genders and words importing
persons shall include natural persons, firms, trusts, partnerships and corporations.

1.5 <u>Date for Any Action</u>. In the event that any date on which any action is required or permitted to
be taken hereunder by any person is not a Business Day, such action shall be required to be taken on the next succeeding day which is
a Business Day.

2. CONTINGENT RIGHTS

2.1 <u>Terms of Contingent Rights</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to adjustment in accordance with Sections 4, 5 and 6, the Contingent Rights shall entitle the
Holder to acquire without any further act or formality or payment of additional consideration:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) 22,000,000 Common Shares, upon the completion of a transaction resulting in the Company listing its securities
on either the New York Stock Exchange or NASDAQ (each, a "**US Exchange** "),
or other transaction resulting in the issuance of shares listed on a US Exchange to shareholders of the Company in exchange their Common
Shares (in either case, an "**Uplisting Transaction** ")
if such Uplisting Transaction is completed within twenty-four (24) months from the Closing Date ()"**Milestone A** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) 22,000,000 Common Shares, upon the Company (or a successor entity) successfully raising within forty-eight
(48) months of the Closing Date in equity and/or debt financing an aggregate of US$8,000,000 or more as of the date of closing of such
financing ()"**Milestone B** "); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) 22,000,000 Common Shares, upon the Company reaching annual revenues of a minimum of US$15,000,000 by December
31, 2028, as shown on the audited financial statement for such periods (and in the case of (ii) and (iii), if applicable, converted into
United States dollars using the applicable Bank of Canada conversion rate as of the relevant date(s)) ()"**Milestone C** "),

up to a maximum of 66,000,000 Common Shares upon the satisfaction of Milestone A, Milestone B and Milestone C (collectively, the "**Milestones**" and individually, a "**Milestone**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For the purposes of the Milestone, references to "Company" includes the Company and any Affiliate
thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Contingent Right shall entitle the Holder thereof to such other rights and privileges as are set
forth in this Certificate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company shall not have any obligation to deliver Common Shares pursuant to any Contingent Right if
the Contingent Rights are transferred to any person who is a resident of a country or political subdivision thereof in which the Contingent
Right Shares may not lawfully be issued pursuant to applicable securities legislation. The Company may require any such person to provide
proof of an applicable exemption from such securities legislation to the Company before Contingent Right Shares are delivered pursuant
to any Contingent Right.

2.2 <u>Holder of Contingent Right not a Shareholder</u>. Nothing in this Agreement or in the holding of a
Contingent Right Certificate, or otherwise, shall, in itself, confer or be construed as conferring upon a Holder any right or interest
whatsoever as a shareholder of the Company, including, but not limited to, the right to vote at, to receive notice of, or to attend, meetings
of shareholders of the Company or any other proceedings of the Company, or the right to dividends and other allocations.

2.3 <u>Contingent Rights to Rank Pari Passu</u>. All Contingent Rights shall rank equally and without preference
over each other, whatever may be the actual date of issue thereof.

2.4 <u>Transfer and Ownership of Contingent Rights</u>. Neither this Certificate nor any right or interest
hereunder shall be assignable by the Holder, his beneficiaries, dependents or legal representatives without the Company's prior
written consent; provided, however, that nothing in this Section 2.4 shall preclude (a) the Holder from designating a beneficiary to receive
any benefit payable hereunder upon his death or (b) the executors, administrators or other legal representatives of the Holder or his
estate from assigning any rights hereunder to the Person(s) entitled thereto.

2.5 <u>Ownership of Rights</u>. The Company may deem and treat the registered Holder of any Certificate as
the absolute owner of the Contingent Right represented thereby for all purposes and the Company shall not be affected by any notice or
knowledge to the contrary, except where the Company is required to take notice by statute or by order of a court of competent jurisdiction.

2.6 <u>Issue in Substitution for Contingent Right Certificates Lost, etc.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If this Certificate becomes mutilated or is lost, destroyed or stolen, the Company, subject to applicable
law, shall issue and deliver, a new Certificate of like tenor, and bearing the same legend, if applicable, as the one mutilated, lost,
destroyed or stolen in exchange for and in place of and upon cancellation of such mutilated Certificate, or in lieu of and in substitution
for such lost, destroyed or stolen Certificate, and the substituted Certificate shall be entitled to the benefits hereof and shall rank
equally in accordance with its terms with all other Contingent Rights issued or to be issued hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The applicant for the issue of a new Certificate pursuant to this Section 2.6 shall bear the cost of the
issue thereof and in case of loss, destruction or theft shall, as a condition precedent to the issuance thereof, furnish to the Company
such evidence of ownership and of the loss, destruction or theft of the Certificate so lost, destroyed or stolen as shall be satisfactory
to the Company, in its sole discretion, acting reasonably, and such applicant shall also be required to furnish an indemnity and surety
bond in amount and form satisfactory to the Company, in its sole discretion, and shall pay the reasonable charges of the Company in connection
therewith.

2.9 <u>Cancellation of Contingent Value Rights</u>. This Certificate shall be cancelled by the Company upon surrender, transfer or after
the Termination Date.

3. ISSUANCE OF CONTINGENT RIGHT SHARES

3.1 <u>Achievement Certificate</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Upon the satisfaction of any Milestone in accordance with Section 2.1 prior to the Expiry Time, the Company
will, as soon as practicable (and in any event not later than five Business Days after the date that the Milestone has been satisfied),
deliver to the Holder: (i) a notice in writing (the "**Achievement Certificate**") signed on behalf of the Company by one or more officers (without personal liability) certifying that the
Milestone has been satisfied; and (ii) a new Certificate for the balance of the Contingent Rights and the remaining Milestones, which
new Certificate will supersede and replace this one.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Within five (5) Business Days of the Expiry Time, the Company will deliver to the Holder a notice in writing
(the **"General Non-Achievement certificate"**) signed
on behalf of the Company by one or more officers (without personal liability) certifying that each applicable Milestone has not been satisfied
by the Expiry Time, and that the Company has complied in all material respects with its obligations under this Agreement.

3.2 <u>Payment Procedure</u>. Upon satisfaction of a Milestone in accordance with Section 2.1, the Holder
shall receive, at no additional cost or expense, the Contingent Right Shares to which the Contingent Rights is entitled pursuant to Section
2.1, less any applicable withholding taxes in accordance with Article 4. The aggregate number of Contingent Right Shares issued to the
Holder shall be rounded down to the nearest whole share, as is appropriate in the circumstances.

3.3 <u>Payment Mechanism</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All Contingent Right Shares issuable in respect of the Contingent Rights will be deemed to be issued effective
as of the date specified in the Achievement Certificate or the Agreed Issue Date (as defined below), as the case may be, for and on behalf
of the Holder and the Holder shall, without payment of additional consideration or any further action on the part of the Holder (including
the surrender of this Certificate), be deemed to have subscribed for the corresponding number of Contingent Right Shares issuable pursuant
to such Contingent Rights and the Company hereby irrevocably authorizes the issuance and delivery of the Contingent Right Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company or its registrar and transfer agent shall cause to be mailed to the address of the Holder
set forth herein, Contingent Right Shares in the name of the Holder representing the number of Contingent Right Shares issuable to the
Holder in respect of such Contingent Rights, as fully paid and non-assessable common shares of the Company, in accordance with this Section
3.3, if and when necessary.

3.4 <u>Cancellation of Rights</u>. At the Termination Date, this Certificate shall be cancelled and shall thereafter be null, void and
of no effect.

4. WITHHOLDING TAX

4.1 <u>Withholding Taxes</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall be entitled to deduct and withhold from the Contingent Right Shares issuable hereunder
such amounts as it is entitled or required (or otherwise reasonably determines) to deduct and withhold under the provision of any Applicable
Laws, including but not limited to the *Income Tax Ordinance 5721-1961* (Israel),
or the administration or interpretation thereof in respect of Taxes. To the extent that any such amounts are so deducted and withheld
and are remitted to the relevant Governmental Entity, such amounts shall be treated for all purposes of this Certificate as having been
paid to the person to whom such amounts would otherwise have been paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding the foregoing, the Company and the Holder hereby agree that no withholding will be made
under this Section 4.1 in respect of persons covered by an applicable Tax Ruling or a Valid Certificate provided to the Company at least
five (5) Business Days prior to the time such payment of consideration is to be made. A "**Valid Certificate**" means a certificate, ruling, approval or any other written instructions issued by the applicable Governmental
Entity indicating that no withholding (or reduced withholding or any other instructions regarding withholding) of Tax is required with
respect to that person in form and substance satisfactory to the Company, acting reasonably.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) For the avoidance of doubt, the Company shall not be required to issue any Contingent Right Shares to
the Holder, unless either (i) an applicable Tax Ruling, (ii) a Valid Certificate is delivered to the Company; or (iii) the applicable
amounts required to be withheld are paid by such Holder to the Company, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In the event that a Holder has not provided the Company with any of items (c)(i), (ii) or (iii) above
at the time of issue of the applicable Contingent Right Shares, Company shall have the right (but not the obligation), in its sole discretion,
to sell a portion of the Contingent Right Shares otherwise issuable to the Holder in such amounts and in such manner as the Company deems
necessary and practicable to pay such withholding taxes and the Company shall issue the balance of the Holder's Contingent Right
Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Holder shall and hereby agrees to indemnify the Company against and hold the Company harmless from
and against any Taxes, interest, penalties and attorneys' fees and disbursements arising or resulting from any failure of the Company
to withhold Taxes from any payment made to the Holder at the applicable statutory rate, including any failure of the Company to withhold
in reliance upon any representation, certificate, statement, document or instrument made or provided by the Holder, including the Tax
Ruling, to the Company in connection with the obligation of the Company to withhold Taxes from payments made to the Holder, it being expressly
understood and agreed that (i) the Company shall be absolutely and unconditionally entitled to accept any such representation, certificate,
statement, document or instrument as being true and correct in all respects and to fully rely thereon without any obligation or responsibility
to investigate or to make any inquiries with respect to the accuracy, veracity, correctness or validity of the same (and without diminution
of the indemnities herein contained) and (ii) the Holder, upon request of the Company and at its sole cost and expense, shall defend any
claim or action relating to the foregoing indemnification using counsel agreed upon by the Holder and the Company.

5. ADJUSTMENT OF NUMBER OF CONTINGENT RIGHT SHARES AND EXERCISE PRICE

5.1 <u>Definitions</u>. In this Article 5, references to "**record date** "
refer to the particular time on such relevant date stipulated for such event and otherwise refer to 5:00 p.m. (Vancouver time) on such
date.

5.2 <u>Adjustment</u>. The rights attached to the Contingent Rights are subject to adjustment from time to time in the events and in the
manner provided as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Share Reorganization.</u> If at any time during the Adjustment Period, the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) subdivides, re-divides or changes its outstanding Common Shares into a greater number of Common Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) reduces, combines, consolidates or changes its outstanding Common Shares into a lesser number of Common Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) issues to all or substantially all the holders of its Common Shares by way of a stock distribution, stock dividend or otherwise, Common
Shares or convertible securities, (any of such events in Paragraphs 5.2(a)(i),
5.2(a)(ii) and 5.2(a)(iii) being herein called a "**Share Reorganization** "),
then the Contingent Right Shares issuable pursuant to the Contingent Rights then outstanding will be adjusted as of the record date at
which the holders of the Common Shares are determined for the purpose of the Share Reorganization by multiplying the number of Common
Shares issuable pursuant to each Contingent Right theretofore obtainable immediately prior to such record date by a fraction, the numerator
of which will be the number of Common Shares outstanding on the record date after giving effect to the Share Reorganization and the denominator
of which will be the number of Common Shares outstanding on the record date before giving effect to the Share Reorganization.

For the purposes of determining the number of Common Shares outstanding at any particular time for the purpose of this Subsection 5.2(a), there shall be included that number of Common Shares which would have resulted from the conversion at that time of any such convertible securities issued to all or substantially all the holders of the Common Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Capital Reorganization.</u> If at any time during the Adjustment Period, there is a reclassification
of the Common Shares or a change of the Common Shares (other than through a Share Reorganization) into other securities or property, or
a consolidation, amalgamation, arrangement or merger of the Company (including a business combination or exchange of like effect) with
or into any corporation or other entity (other than a consolidation, amalgamation, arrangement or merger which does not result in any
reclassification of the outstanding Common Shares or a change of the Common Shares into other securities or property), or a transfer of
the undertaking or assets of the Company as an entirety or substantially as an entirety to another entity, or a record date for any of
the foregoing events occurs (any of such events being herein called a "**Capital Reorganization** "), any Holder who is entitled to receive Contingent Right Shares under this Contingent Right Certificate
after the record date or effective date of such Capital Reorganization will be entitled to receive, and will accept, in lieu of the number
of Common Shares to which such holder was theretofore entitled, the aggregate number of securities or property of the Company, or the
continuing, successor or purchasing person, as the case may be, under the Capital Reorganization which such holder would have been entitled
to receive as a result of such Capital Reorganization if, on the effective date of such Capital Reorganization, the Holder had been the
registered holder of the number of Common Shares to which such holder was then entitled pursuant to the Contingent Rights. No such Capital
Reorganization shall be carried into effect unless all necessary steps shall have been taken so that the Holders shall thereafter be entitled
to receive such number of Common Shares or other securities or property of the Company or of the continuing, successor or purchasing person,
as the case may be, under the Capital Reorganization, subject to adjustment thereafter in accordance with provisions the same, as nearly
as may be possible, as those contained in this Section 5.2 and Section 5.3. If determined appropriate by the Company, acting reasonably,
appropriate adjustments will be made as a result of any such Capital Reorganization in the application of the provisions set forth in
this Article 5 with respect to the rights and interests thereafter of the Holder to the extent that the provisions set forth in this Article
5 will thereafter correspondingly be made applicable as nearly as may be reasonable in relation to any securities or property thereafter
deliverable upon the satisfaction of any Milestone. Any such adjustments will be made by and set forth in terms and conditions supplemental
hereto approved by the Company, acting reasonably, and, absent manifest error, will for all purposes be conclusively deemed to be the
appropriate adjustment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Special Distributions.</u> If at any time during the Adjustment Period, the Company issues or distributes
to the holders of all or substantially all of the outstanding Common Shares, securities of the Company, including rights, options or warrants
to acquire Common Shares or securities convertible into or exchangeable for Common Shares or property or assets, including evidences of indebtedness,
other than dividends or distributions paid in the ordinary course and other than as a result of a Share Reorganization or a Capital Reorganization
(any such events being herein called a "**Special Distribution** "),
or a record date for any of the foregoing events occurs, subject to the receipt of the approval of the Exchange, there will be an appropriate
adjustment in the number of Common Shares issuable upon satisfaction of each Milestone such that the Holder will be entitled to receive
from the Company such securities, property or assets as if, on the record date at which holders of Common Shares are determined for the
purpose thereof, such holder had been the registered holder of the number of Common Shares to which the Holder was then entitled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Binding on Successors.</u> The provisions of this Certificate will be binding upon and inure to the
benefit of the corporation or other entity resulting from any Capital Reorganization or similar transaction. In the event of any such
merger, consolidation or sale of assets, references to the Company in this Certificate shall unless the context suggests otherwise be
deemed to include the entity resulting from such merger or consolidation or the acquirer of such assets of the Company. The Company shall
require any successor or assignee to, expressly and unconditionally to assume and agree to perform the Company's obligations under
this Agreement, in the same manner and to the same extent that the Company would be required to perform if no such succession or assignment
had taken place.

5.3 <u>Adjustment Rules</u>. The following rules and procedures shall be applicable to adjustments made pursuant to Section 5.2:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The adjustments provided for in this Article 5 are cumulative and, subject to Subsection 5.3(b), shall
apply (without duplication) to successive issues, subdivisions, combinations, consolidations, changes, distributions and any other events
that require adjustment of the Contingent Right Shares issuable pursuant to the Contingent Rights or the number or kind of securities
or property issuable hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No adjustment in the Contingent Right Shares issuable pursuant to the Contingent Rights shall be required
unless the adjustment would result in a change of at least 0.01% of the number of such Common Shares to be issued, provided, however,
that any adjustments that, except for the provisions of this subsection would otherwise have been required to be made, shall be carried
forward and taken into account in any subsequent adjustment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding anything in this Article 5, no adjustment shall be made to the Contingent Right Shares
issuable pursuant to the Contingent Rights if the issue of Common Shares is being made pursuant to this Agreement or pursuant to any stock
option, stock purchase, restricted stock unit, deferred stock unit or other long term incentive plan in force from time to time for directors,
officers or employees of the Company and any such issue shall be deemed not to be a Share Reorganization or a Special Distribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) No adjustment in the Contingent Right Shares issuable pursuant to the Contingent Rights shall be made
in respect of any events described in this Article 5 if the Holders are entitled to participate, subject to the receipt of the approval
of the Exchange, in the events on the same terms, *mutatis mutandis,* as
if their Contingent Rights had been converted immediately prior to the effective date or record date of the events.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If any questions, controversies or disputes shall at any time arise with respect to adjustments of the
Contingent Right Shares issuable pursuant to the Contingent Rights, such questions, controversies or disputes shall be conclusively determined
by the Company's external auditors or, if they are unable or unwilling to act, in accordance with Article 9.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) If the Company shall set a record date to determine the holders of Common Shares for the purpose of entitling
them to receive any distribution or any subscription or purchase rights in accordance with this Article 5 and shall, thereafter, legally
abandon its plans to pay or deliver the distribution or subscription or purchase rights, then no adjustment in the Contingent Right Shares
issuable pursuant to the Contingent Rights shall be required by reason of the setting of the record date.

5.4 <u>Notice of Certain Events</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Promptly upon the occurrence of the earlier of the effective date of or the record date for any event
referred to in Section 5.2 that requires an adjustment or readjustment to the Contingent Right Shares issuable pursuant to the Contingent
Rights, the Company shall provide the Holder with a certificate of the Company specifying the particulars of the event and, if determinable,
the amount of the adjustment or readjustment, and computation of the adjustment or readjustment and the Holder may act and rely absolutely
on the certificate of the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If notice has been given under Subsection 5.4(a) and the adjustment is not then determinable, the Company
shall promptly, after the adjustment is determinable provide the Holder with a computation of the adjustment.

6. RIGHTS OF THE COMPANY AND COVENANTS OF THE COMPANY

6.1 <u>General Covenants</u>. The Company covenants with the Holder that during the Adjustment Period, the Company will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) reserve and keep available a sufficient number of Contingent Right Shares for the purpose of enabling
it to satisfy its obligations to issue Contingent Right Shares upon satisfaction of the entire Milestones;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) cause the Contingent Right Shares from time to time acquired pursuant to the exercise of the Contingent
Rights to be duly issued and delivered in accordance with the Contingent Rights and the terms hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) ensure all Contingent Right Shares which shall be issued upon exercise of the right to acquire provided
for herein shall be fully paid and non-assessable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) use reasonable commercial efforts to maintain its existence and carry on its business in the ordinary
course;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) diligently pursue the satisfaction of the Milestones and in good faith and provide an Achievement Certificate,
or Non-Achievement Certificate, in accordance with Section 3.1 as soon as practicable with respect thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) use reasonable commercial efforts to ensure that all Common Shares outstanding continue to be or are listed
and posted for trading on the Exchange (or such other Canadian stock exchange acceptable to the Company), provided that this clause shall
not be construed as limiting or restricting the Company to agree to a consolidation, amalgamation, arrangement, takeover bid, merger or
like transaction that would result in the Common Shares ceasing to be listed and posted for trading on the Exchange;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) make all requisite filings under applicable Canadian securities legislation including those necessary
to remain a reporting issuer not in default in each of the provinces and other jurisdictions where it is or becomes a reporting issuer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) in general, well and truly perform and carry out all of the acts or things to be done by it as provided in this Certificate.

6.2 <u>Enforceability of Certificate</u>. The Company represents and warrants that this Certificate is valid and enforceable against the
Company in accordance with the provisions hereof.

7. DISPUTE MECHANISM

7.1 <u>Disputed Matters</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If the Holder, at any time but no later than sixty (60) days after the delivery of a General Non-Achievement
Certificate (in either case, the "**Dispute Period** ")
wishes to dispute the non-satisfaction of the Milestone, the Holder may provide the Company with written notice (the "**Dispute Notice"**) of such dispute in reasonable detail.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the Holder does not deliver such a Dispute Notice on or prior to the expiry of the Dispute Period,
the Holder will be deemed to have accepted the non-performance of any Milestone as of the Termination Date and the Company and its Affiliates
will have no further obligation with respect to the Contingent Rights represented hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If the Holder delivers a Dispute Notice during the Dispute Period, and it is finally determined by agreement
of the Company and the Holder or by a court of competent jurisdiction that the disputed Milestone has been met, the Contingent Right Shares
subject to the Dispute Notice will be issued on a date established by the Company that is as soon as possible (and in any event no later
than five Business Days) after such agreement or determination ()"**Agreed Issue Date** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Holder and the Company shall work in good faith together to resolve the dispute set out therein on
a mutually satisfactory basis for not less than thirty (30) days, following which the Holder may proceed with an action against the Company
in the Courts of British Columbia, which shall have exclusive jurisdiction over any dispute under this Certificate or in connection with
the Contingent Rights.

8. GENERAL

8.1 <u>Notices</u>. Any notice, consent, waiver, direction or other communication required or permitted to be given under this Agreement
(each, a "**notice**") shall be in writing addressed as
follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if to the Company:

Impact Acquisition Corp.

501 – 3292 Production Way,

Burnaby, British Columbia

V5A 4R4 Canada

Attention: Gabi Kabazo, Chief Financial Officer

Email: [\*\*\*]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if to the Holder: Jeffs Brands

7 Mezada Street

Bnei Brak

Tel Aviv 5126112

Israel

Attention: Ronen Zalayet, Chief Financial Officer

Email: [\*\*\*]

or such other address as may be designated by notice given by either the Holder or the Company to the other in accordance with this Section 8.1. Each notice shall be personally delivered to the addressee or sent by e-mail to the addressee and a notice which is personally delivered or sent by email shall, if delivered or sent prior to 4:00 p.m. (local time of the recipient) on a Business Day, be deemed to be given and received on that day and, in any other case, be deemed to be given and received on the next Business Day.

8.2 <u>Provisions of this Agreement and Contingent Rights for the Sole Benefit of Parties and Holder</u>.
Nothing in this Certificate, expressed or implied, shall give or be construed to give to any person other than the Company and the Holder,
as the case may be, any legal or equitable right, remedy or claim under this Certificate, or under any covenant or provision herein or
therein contained, all such covenants and provisions being for the sole benefit of the Company and the Holder.

8.3 <u>Governing Law</u>. This Certificate shall be governed by and construed and interpreted in accordance
with the laws of the Province of British Columbia and the federal laws of Canada applicable therein without giving effect to the conflicts
of laws principles thereof and without reference to the laws of any other jurisdiction and is to be treated in all respects as a British
Columbia contract. The Parties agree to submit to the exclusive jurisdiction of the courts of British Columbia, provided that nothing
in this Certificate shall prevent either Party from seeking injunctive relief in the courts of any competent jurisdiction.

8.4 <u>Entire Agreement</u>. Other than the Purchase Agreement, this Certificate, constitute the entire agreement
among the Company and the Holder hereto pertaining to the subject matter hereof and supersedes all prior agreements, understandings, negotiations,
and discussions, whether oral or written, between the Company and the Holder with respect to the subject matter hereof.

8.5 <u>Further Assurances.</u> Each Party will, upon request but without further consideration, from time
to time promptly execute and deliver all further documents and instruments and take all further action necessary or appropriate to give
effect to and perform the provisions and intent of this Agreement.

8.6 <u>Waiver</u>. No waiver of any provision of this Agreement will constitute a waiver of any other provision,
nor will any waiver constitute a continuing waiver unless otherwise expressly provided. Any agreement as to the extension or waiver of
any provision of this Agreement by any Party will be valid only if in writing and signed by such Party. No waiver of any breach of any
provision of this Agreement will be effective or binding unless made in writing and signed by the Party purporting to give the same and,
unless otherwise provided, will be limited to the specific breach waived.

8.7 <u>Enurement</u>. This Agreement shall enure to the benefit of and be binding upon the Parties hereto
and their respective successors and permitted assigns.

8.8 <u>Severability</u>. In the event that any provision or part of this Certificate is determined by any
court or other judicial or administrative body to be illegal, null, void, invalid or unenforceable, that provision shall be severed to
the extent that it is so declared and the other provisions of this Certificate shall continue in full force and effect.

8.9 <u>Counterparts</u>. This Agreement may be executed and delivered in one or more counterparts and may
be executed and delivered by any electronically communicated method, each of which when executed and delivered shall be deemed to be an
original and all of which counterparts together shall be deemed to constitute one and the same instrument.

*[Remainder of page intentionally left blank.]*

 

 

IN WITNESS WHEREOF the Company has caused this Certificate to be signed by its duly authorized officer as of [●].

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| | | |
|:---|:---|:---|
|  | **IMPACT ACQUISITION CORP.** | **IMPACT ACQUISITION CORP.** |
| The digital signature shall be deemed to | | |
| constitute an original signature to this | Per: | |
| Certificate. |  | *Authorized Signatory* |

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## Exhibit 4.4

**Exhibit 4.4**

**FORM OF CONTINGENT RIGHT CERTIFICATE**

**CONTINGENT RIGHTS CERTIFICATE**

**Impact Acquisition Corp., a corporation existing under the laws of British Columbia**

**(the "Company")**

CONTINGENT RIGHT CERTIFICATE NO. <u>CVR-001</u>

66,000,000 CONTINGENT RIGHTS, each entitling the holder thereof to acquire Common Shares.

THIS IS TO CERTIFY THAT **JEFFS BRANDS LTD** (the "**Holder**") is the registered holder of the number of Contingent Rights specified above ("**Contingent Rights**"). The Contingent Rights represented by this Certificate entitles the Holder, to receive Common Shares of the Company, on the terms and conditions set forth in this Certificate.

This Certificate is issued pursuant to that share purchase agreement dated February 6, 2025 (the "**Purchase Agreement**") among the Company and Jeffs Brands Ltd (a corporation existing under the laws of Israel) ("**Jeffs Brands**"). In the event of any conflict between the terms of this Certificate and the Purchase Agreement, the terms of this Certificate shall prevail.

**1.** **INTERPRETATION** 

1.1 <u>Definitions</u>. Capitalized terms used in this Certificate, to the extent not otherwise defined herein, shall have the same meaning as in the Purchase Agreement. The terms set forth below shall have the meanings ascribed to them below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "**Adjustment Period**" means the period of time in which these Contingent Rights are outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **"Common Shares**" means the common shares in the capital of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "**Contingent Right Shares**" means, any time, the Common Shares issuable pursuant to the Contingent Rights then represented by this Certificate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "**Exchange**" means the TSX Venture Exchange;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "**Expiry Date**" means: (a) with respect to the achievement of Milestone B (as defined below), forty-eight (48) months from the closing of the Purchase Agreement (the "**Closing Date**") and (b) with respect to the achievement of Milestone C (as defined below), December 31, 2028, provided that the Expiry Date shall be extended until the date of issuance of the audited financial statements for such periods;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) "**Expiry Time**" means 5:00 p.m. (Vancouver time) on the Expiry Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) "**Termination Date**" means, the date that is the later of (i) the Expiry Time; (ii)
 the date allof the Contingent Right Shares issuable hereunder, are issued in accordance with thisCertificate; (iii) the expiration
 of the Dispute Period in respect of the General Non-Achievement Notice, without delivery of a Dispute Notice, and (iv) in the case
 of delivery - 2 - 39674432v1 of one or more Dispute Notices, the date agreed upon by the Holder and the Company or a court of competent
 jurisdiction in respect of the last Dispute Notice; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) "**Unissued Shares**" means, at any time, all of the Contingent Rights Shares that are then unissued.

1.2 <u>Currency</u>. All sums of money which are referred to as: (a) "C$" in this Certificate refer to lawful currency of Canada; and (b) "US$" in this Agreement refer to United States dollars, unless otherwise specified.

1.3 <u>Interpretation Not Affected by Headings, etc.</u>. The division of this Certificate into articles, sections and other portions and the insertion of headings are for convenience of reference only and shall not affect the construction or interpretation of this Certificate. Unless otherwise indicated, any reference in this Certificate to an Article, Section or a Schedule refers to the specified Article or Section of, or Schedule to, this Certificate.

1.4 <u>Number, etc.</u>. Unless the subject matter or context requires the contrary, words importing the singular number only shall include the plural and vice versa; words importing the use of any gender shall include all genders and words importing persons shall include natural persons, firms, trusts, partnerships and corporations.

1.5 <u>Date for Any Action</u>. In the event that any date on which any action is required or permitted to be taken hereunder by any person is not a Business Day, such action shall be required to be taken on the next succeeding day which is a Business Day.

**2.** **CONTINGENT RIGHTS** 

2.1 <u>Terms of Contingent Rights</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to adjustment in accordance with Sections 4, 5 and 6, the Contingent Rights shall entitle the Holder to acquire without any further act or formality or payment of additional consideration:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) 22,000,000 Common Shares, upon the completion of a transaction resulting in the Company listing its securities on either the New York Stock Exchange or NASDAQ (each, a "**US Exchange** "), or other transaction resulting in the issuance of shares listed on a US Exchange to shareholders of the Company in exchange their Common Shares (in either case, an "**Uplisting Transaction**") if such Uplisting Transaction is completed within twenty-four (24) months from the Closing Date ()"**Milestone A** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) 22,000,000 Common Shares, upon the Company (or a successor entity) successfully raising within forty-eight (48) months of the Closing Date in equity and/or debt financing an aggregate of US$8,000,000 or more as of the date of closing of such financing ()"**Milestone B** "); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) 22,000,000 Common Shares, upon the Company reaching annual revenues of a minimum of US$15,000,000 by December 31, 2028, as shown on the audited financial statement for such periods (and in the case of (ii) and (iii), if applicable, converted into United States dollars using the applicable Bank of Canada conversion rate as of the relevant date(s)) ()"**Milestone C** "),

up to a maximum of 66,000,000 Common Shares upon the satisfaction of Milestone A, Milestone B and Milestone C (collectively, the "**Milestones**" and individually, a "**Milestone**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For the purposes of the Milestone, references to "Company" includes the Company and any Affiliate thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Contingent Right shall entitle the Holder thereof to such other rights and privileges as are set forth in this Certificate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company shall not have any obligation to deliver Common Shares pursuant to any Contingent Right if the Contingent Rights are transferred to any person who is a resident of a country or political subdivision thereof in which the Contingent Right Shares may not lawfully be issued pursuant to applicable securities legislation. The Company may require any such person to provide proof of an applicable exemption from such securities legislation to the Company before Contingent Right Shares are delivered pursuant to any Contingent Right.

2.2 <u>Holder of Contingent Right not a Shareholder</u>. Nothing in this Agreement or in the holding of a Contingent Right Certificate, or otherwise, shall, in itself, confer or be construed as conferring upon a Holder any right or interest whatsoever as a shareholder of the Company, including, but not limited to, the right to vote at, to receive notice of, or to attend, meetings of shareholders of the Company or any other proceedings of the Company, or the right to dividends and other allocations.

2.3 <u>Contingent Rights to Rank Pari Passu</u>. All Contingent Rights shall rank equally and without preference over each other, whatever may be the actual date of issue thereof.

2.4 <u>Transfer and Ownership of Contingent Rights</u>. Neither this Certificate nor any right or interest hereunder shall be assignable by the Holder, his beneficiaries, dependents or legal representatives without the Company's prior written consent; provided, however, that nothing in this Section 2.4 shall preclude (a) the Holder from designating a beneficiary to receive any benefit payable hereunder upon his death or (b) the executors, administrators or other legal representatives of the Holder or his estate from assigning any rights hereunder to the Person(s) entitled thereto.

2.5 <u>Ownership of Rights</u>. The Company may deem and treat the registered Holder of any Certificate as the absolute owner of the Contingent Right represented thereby for all purposes and the Company shall not be affected by any notice or knowledge to the contrary, except where the Company is required to take notice by statute or by order of a court of competent jurisdiction.

2.6 <u>Issue in Substitution for Contingent Right Certificates Lost, etc.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If this Certificate becomes mutilated or is lost, destroyed or stolen, the Company, subject to applicable law, shall issue and deliver, a new Certificate of like tenor, and bearing the same legend, if applicable, as the one mutilated, lost, destroyed or stolen in exchange for and in place of and upon cancellation of such mutilated Certificate, or in lieu of and in substitution for such lost, destroyed or stolen Certificate, and the substituted Certificate shall be entitled to the benefits hereof and shall rank equally in accordance with its terms with all other Contingent Rights issued or to be issued hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The applicant for the issue of a new Certificate pursuant to this Section 2.6 shall bear the cost of the issue thereof and in case of loss, destruction or theft shall, as a condition precedent to the issuance thereof, furnish to the Company such evidence of ownership and of the loss, destruction or theft of the Certificate so lost, destroyed or stolen as shall be satisfactory to the Company, in its sole discretion, acting reasonably, and such applicant shall also be required to furnish an indemnity and surety bond in amount and form satisfactory to the Company, in its sole discretion, and shall pay the reasonable charges of the Company in connection therewith.

2.9 <u>Cancellation of Contingent Value Rights</u>. This Certificate shall be cancelled by the Company upon surrender, transfer or after the Termination Date.

**3.** **ISSUANCE OF CONTINGENT RIGHT SHARES** 

3.1 <u>Achievement Certificate</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Upon the satisfaction of any Milestone in accordance with Section 2.1 prior to the Expiry Time, the
 Company will, as soon as practicable (and in any event not later than five Business Days after the date that the Milestone has been
 satisfied), deliver to the Holder: (i) a notice in writing (the "**Achievement Certificate** ")
signed on behalf of the Company by one or more officers (without personal liability) certifying that the Milestone has been satisfied;
and (ii) a new Certificate for the balance of the Contingent Rights and the remaining Milestones, which new Certificate will supersede
and replace this one.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Within five (5) Business Days of the Expiry Time, the Company will deliver to the Holder a notice in writing (the **"General Non-Achievement certificate"**) signed on behalf of the Company by one or more officers (without personal liability) certifying that each applicable Milestone has not been satisfied by the Expiry Time, and that the Company has complied in all material respects with its obligations under this Agreement.

3.2 <u>Payment Procedure</u>. Upon satisfaction of a Milestone in accordance with Section 2.1, the Holder shall receive, at no additional cost or expense, the Contingent Right Shares to which the Contingent Rights is entitled pursuant to Section 2.1, less any applicable withholding taxes in accordance with Article 4. The aggregate number of Contingent Right Shares issued to the Holder shall be rounded down to the nearest whole share, as is appropriate in the circumstances.

3.3 <u>Payment Mechanism</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All Contingent Right Shares issuable in respect of the Contingent Rights will be deemed to be issued effective as of the date specified in the Achievement Certificate or the Agreed Issue Date (as defined below), as the case may be, for and on behalf of the Holder and the Holder shall, without payment of additional consideration or any further action on the part of the Holder (including the surrender of this Certificate), be deemed to have subscribed for the corresponding number of Contingent Right Shares issuable pursuant to such Contingent Rights and the Company hereby irrevocably authorizes the issuance and delivery of the Contingent Right Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company or its registrar and transfer agent shall cause to be mailed to the address of the Holder set forth herein, Contingent Right Shares in the name of the Holder representing the number of Contingent Right Shares issuable to the Holder in respect of such Contingent Rights, as fully paid and non-assessable common shares of the Company, in accordance with this Section 3.3, if and when necessary.

3.4 <u>Cancellation of Rights</u>. At the Termination Date, this Certificate shall be cancelled and shall thereafter be null, void and of no effect.

**4.** **WITHHOLDING TAX** 

4.1 <u>Withholding Taxes</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall be entitled to deduct and withhold from the Contingent Right Shares issuable hereunder such amounts as it is entitled or required (or otherwise reasonably determines) to deduct and withhold under the provision of any Applicable Laws, including but not limited to the *Income Tax Ordinance 5721-1961* (Israel), or the administration or interpretation thereof in respect of Taxes. To the extent that any such amounts are so deducted and withheld and are remitted to the relevant Governmental Entity, such amounts shall be treated for all purposes of this Certificate as having been paid to the person to whom such amounts would otherwise have been paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding the foregoing, the Company and the Holder hereby agree that no withholding will be made under this Section 4.1 in respect of persons covered by an applicable Tax Ruling or a Valid Certificate provided to the Company at least five (5) Business Days prior to the time such payment of consideration is to be made. A "**Valid Certificate**" means a certificate, ruling, approval or any other written instructions issued by the applicable Governmental Entity indicating that no withholding (or reduced withholding or any other instructions regarding withholding) of Tax is required with respect to that person in form and substance satisfactory to the Company, acting reasonably.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) For the avoidance of doubt, the Company shall not be required to issue any Contingent Right Shares to the Holder, unless either (i) an applicable Tax Ruling, (ii) a Valid Certificate is delivered to the Company; or (iii) the applicable amounts required to be withheld are paid by such Holder to the Company, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In the event that a Holder has not provided the Company with any of items (c)(i), (ii) or (iii) above at the time of issue of the applicable Contingent Right Shares, Company shall have the right (but not the obligation), in its sole discretion, to sell a portion of the Contingent Right Shares otherwise issuable to the Holder in such amounts and in such manner as the Company deems necessary and practicable to pay such withholding taxes and the Company shall issue the balance of the Holder's Contingent Right Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Holder shall and hereby agrees to indemnify the Company against and hold the Company harmless from and against any Taxes, interest, penalties and attorneys' fees and disbursements arising or resulting from any failure of the Company to withhold Taxes from any payment made to the Holder at the applicable statutory rate, including any failure of the Company to withhold in reliance upon any representation, certificate, statement, document or instrument made or provided by the Holder, including the Tax Ruling, to the Company in connection with the obligation of the Company to withhold Taxes from payments made to the Holder, it being expressly understood and agreed that (i) the Company shall be absolutely and unconditionally entitled to accept any such representation, certificate, statement, document or instrument as being true and correct in all respects and to fully rely thereon without any obligation or responsibility to investigate or to make any inquiries with respect to the accuracy, veracity, correctness or validity of the same (and without diminution of the indemnities herein contained) and (ii) the Holder, upon request of the Company and at its sole cost and expense, shall defend any claim or action relating to the foregoing indemnification using counsel agreed upon by the Holder and the Company.

**5.** **ADJUSTMENT OF NUMBER OF CONTINGENT RIGHT SHARES AND EXERCISE PRICE** 

5.1 <u>Definitions</u>. In this Article 5, references to "**record date**" refer to the particular time on such relevant date stipulated for such event and otherwise refer to 5:00 p.m. (Vancouver time) on such date.

5.2 <u>Adjustment</u>. The rights attached to the Contingent Rights are subject to adjustment from time to time in the events and in the manner provided as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Share Reorganization.</u> If at any time during the Adjustment Period, the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) subdivides, re-divides or changes its outstanding Common Shares into a greater number of Common Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) reduces, combines, consolidates or changes its outstanding Common Shares into a lesser number of Common Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) issues to all or substantially all the holders of its Common Shares by way of a
 stock distribution, stock dividend or otherwise, Common Shares or convertible securities, (any of such events in Paragraphs 5.2(a)(i), 5.2(a)(ii) and 5.2(a)(iii)
being herein called a "**Share Reorganization** "), then the Contingent Right Shares issuable pursuant to the Contingent
Rights then outstanding will be adjusted as of the record date at which the holders of the Common Shares are determined for the purpose
of the Share Reorganization by multiplying the number of Common Shares issuable pursuant to each Contingent Right theretofore obtainable
immediately prior to such record date by a fraction, the numerator of which will be the number of Common Shares outstanding on the record
date after giving effect to the Share Reorganization and the denominator of which will be the number of Common Shares outstanding on the
record date before giving effect to the Share Reorganization.

For the purposes of determining the number of Common Shares outstanding at any particular time for the purpose of this Subsection 5.2(a), there shall be included that number of Common Shares which would have resulted from the conversion at that time of any such convertible securities issued to all or substantially all the holders of the Common Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Capital Reorganization.</u> If at any time during the Adjustment Period, there is a reclassification of the Common Shares or a change of the Common Shares (other than through a Share Reorganization) into other securities or property, or a consolidation, amalgamation, arrangement or merger of the Company (including a business combination or exchange of like effect) with or into any corporation or other entity (other than a consolidation, amalgamation, arrangement or merger which does not result in any reclassification of the outstanding Common Shares or a change of the Common Shares into other securities or property), or a transfer of the undertaking or assets of the Company as an entirety or substantially as an entirety to another entity, or a record date for any of the foregoing events occurs (any of such events being herein called a "**Capital Reorganization** "), any Holder who is entitled to receive Contingent Right Shares under this Contingent Right Certificate after the record date or effective date of such Capital Reorganization will be entitled to receive, and will accept, in lieu of the number of Common Shares to which such holder was theretofore entitled, the aggregate number of securities or property of the Company, or the continuing, successor or purchasing person, as the case may be, under the Capital Reorganization which such holder would have been entitled to receive as a result of such Capital Reorganization if, on the effective date of such Capital Reorganization, the Holder had been the registered holder of the number of Common Shares to which such holder was then entitled pursuant to the Contingent Rights. No such Capital Reorganization shall be carried into effect unless all necessary steps shall have been taken so that the Holders shall thereafter be entitled to receive such number of Common Shares or other securities or property of the Company or of the continuing, successor or purchasing person, as the case may be, under the Capital Reorganization, subject to adjustment thereafter in accordance with provisions the same, as nearly as may be possible, as those contained in this Section 5.2 and Section 5.3. If determined appropriate by the Company, acting reasonably, appropriate adjustments will be made as a result of any such Capital Reorganization in the application of the provisions set forth in this Article 5 with respect to the rights and interests thereafter of the Holder to the extent that the provisions set forth in this Article 5 will thereafter correspondingly be made applicable as nearly as may be reasonable in relation to any securities or property thereafter deliverable upon the satisfaction of any Milestone. Any such adjustments will be made by and set forth in terms and conditions supplemental hereto approved by the Company, acting reasonably, and, absent manifest error, will for all purposes be conclusively deemed to be the appropriate adjustment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Special Distributions.</u> If at any time during the Adjustment Period, the
 Company issues or distributes to the holders of all or substantially all of the outstanding Common Shares, securities of the
 Company, including rights, options or warrants to acquire Common Shares or securities convertible into or exchangeable for Common
 Shares or property or assets, including evidences of indebtedness, other than dividends or distributions
paid in the ordinary course and other than as a result of a Share Reorganization or a Capital Reorganization (any such events being herein
called a "**Special Distribution** "), or a record date for any of the foregoing events occurs, subject to the receipt of
the approval of the Exchange, there will be an appropriate adjustment in the number of Common Shares issuable upon satisfaction of each
Milestone such that the Holder will be entitled to receive from the Company such securities, property or assets as if, on the record date
at which holders of Common Shares are determined for the purpose thereof, such holder had been the registered holder of the number of
Common Shares to which the Holder was then entitled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Binding on Successors.</u> The provisions of this Certificate will be binding upon and inure to the benefit of the corporation or other entity resulting from any Capital Reorganization or similar transaction. In the event of any such merger, consolidation or sale of assets, references to the Company in this Certificate shall unless the context suggests otherwise be deemed to include the entity resulting from such merger or consolidation or the acquirer of such assets of the Company. The Company shall require any successor or assignee to, expressly and unconditionally to assume and agree to perform the Company's obligations under this Agreement, in the same manner and to the same extent that the Company would be required to perform if no such succession or assignment had taken place.

5.3 <u>Adjustment Rules</u>. The following rules and procedures shall be applicable to adjustments made pursuant to Section 5.2:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The adjustments provided for in this Article 5 are cumulative and, subject to Subsection 5.3(b), shall apply (without duplication) to successive issues, subdivisions, combinations, consolidations, changes, distributions and any other events that require adjustment of the Contingent Right Shares issuable pursuant to the Contingent Rights or the number or kind of securities or property issuable hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No adjustment in the Contingent Right Shares issuable pursuant to the Contingent Rights shall be required unless the adjustment would result in a change of at least 0.01% of the number of such Common Shares to be issued, provided, however, that any adjustments that, except for the provisions of this subsection would otherwise have been required to be made, shall be carried forward and taken into account in any subsequent adjustment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding anything in this Article 5, no adjustment shall be made to the Contingent Right Shares issuable pursuant to the Contingent Rights if the issue of Common Shares is being made pursuant to this Agreement or pursuant to any stock option, stock purchase, restricted stock unit, deferred stock unit or other long term incentive plan in force from time to time for directors, officers or employees of the Company and any such issue shall be deemed not to be a Share Reorganization or a Special Distribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) No adjustment in the Contingent Right Shares issuable pursuant to the Contingent Rights shall be made in respect of any events described in this Article 5 if the Holders are entitled to participate, subject to the receipt of the approval of the Exchange, in the events on the same terms, *mutatis mutandis,* as if their Contingent Rights had been converted immediately prior to the effective date or record date of the events.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If any questions, controversies or disputes shall at any time arise with respect to adjustments of the Contingent Right Shares issuable pursuant to the Contingent Rights, such questions, controversies or disputes shall be conclusively determined by the Company's external auditors or, if they are unable or unwilling to act, in accordance with Article 9.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) If the Company shall set a record date to determine the holders of Common Shares for the purpose of entitling them to receive any distribution or any subscription or purchase rights in accordance with this Article 5 and shall, thereafter, legally abandon its plans to pay or deliver the distribution or subscription or purchase rights, then no adjustment in the Contingent Right Shares issuable pursuant to the Contingent Rights shall be required by reason of the setting of the record date.

5.4 <u>Notice of Certain Events</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Promptly upon the occurrence of the earlier of the effective date of or the record date for any event referred to in Section 5.2 that requires an adjustment or readjustment to the Contingent Right Shares issuable pursuant to the Contingent Rights, the Company shall provide the Holder with a certificate of the Company specifying the particulars of the event and, if determinable, the amount of the adjustment or readjustment, and computation of the adjustment or readjustment and the Holder may act and rely absolutely on the certificate of the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If notice has been given under Subsection 5.4(a) and the adjustment is not then determinable, the Company shall promptly, after the adjustment is determinable provide the Holder with a computation of the adjustment.

**6.** **RIGHTS OF THE COMPANY AND COVENANTS OF THE COMPANY** 

6.1 <u>General Covenants</u>. The Company covenants with the Holder that during the Adjustment Period, the Company will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) reserve and keep available a sufficient number of Contingent Right Shares for the purpose of enabling it to satisfy its obligations to issue Contingent Right Shares upon satisfaction of the entire Milestones;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) cause the Contingent Right Shares from time to time acquired pursuant to the exercise of the Contingent Rights to be duly issued and delivered in accordance with the Contingent Rights and the terms hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) ensure all Contingent Right Shares which shall be issued upon exercise of the right to acquire provided for herein shall be fully paid and non-assessable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) use reasonable commercial efforts to maintain its existence and carry on its business in the ordinary course;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) diligently pursue the satisfaction of the Milestones and in good faith and provide an Achievement Certificate, or Non-Achievement Certificate, in accordance with Section 3.1 as soon as practicable with respect thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) use reasonable commercial efforts to ensure that all Common Shares outstanding continue to be or are listed and posted for trading on the Exchange (or such other Canadian stock exchange acceptable to the Company), provided that this clause shall not be construed as limiting or restricting the Company to agree to a consolidation, amalgamation, arrangement, takeover bid, merger or like transaction that would result in the Common Shares ceasing to be listed and posted for trading on the Exchange;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) make all requisite filings under applicable Canadian securities legislation including those necessary to remain a reporting issuer not in default in each of the provinces and other jurisdictions where it is or becomes a reporting issuer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) in general, well and truly perform and carry out all of the acts or things to be done by it as provided in this Certificate.

6.2 <u>Enforceability of Certificate</u>. The Company represents and warrants that this Certificate is valid and enforceable against the Company in accordance with the provisions hereof.

**7.** **DISPUTE MECHANISM** 

7.1 <u>Disputed Matters</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If the Holder, at any time but no later than sixty (60) days after the delivery of a General Non-Achievement Certificate (in either case, the "**Dispute Period**") wishes to dispute the non-satisfaction of the Milestone, the Holder may provide the Company with written notice (the "**Dispute Notice"**) of such dispute in reasonable detail.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the Holder does not deliver such a Dispute Notice on or prior to the expiry of the Dispute Period, the Holder will be deemed to have accepted the non-performance of any Milestone as of the Termination Date and the Company and its Affiliates will have no further obligation with respect to the Contingent Rights represented hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If the Holder delivers a Dispute Notice during the Dispute Period, and it is finally determined by agreement of the Company and the Holder or by a court of competent jurisdiction that the disputed Milestone has been met, the Contingent Right Shares subject to the Dispute Notice will be issued on a date established by the Company that is as soon as possible (and in any event no later than five Business Days) after such agreement or determination ()"**Agreed Issue Date** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Holder and the Company shall work in good faith together to resolve the dispute set out therein on a mutually satisfactory basis for not less than thirty (30) days, following which the Holder may proceed with an action against the Company in the Courts of British Columbia, which shall have exclusive jurisdiction over any dispute under this Certificate or in connection with the Contingent Rights.

**8.** **GENERAL** 

8.1 <u>Notices</u>. Any notice, consent, waiver, direction or other communication required or permitted to be given under this Agreement (each, a "**notice**") shall be in writing addressed as follows:

---

| | |
|:---|:---|
| (a) | if to the Company: |
|  | Impact Acquisition Corp. |
|  | 501 – 3292 Production Way, |
|  | Burnaby, British Columbia |
|  | V5A 4R4 Canada |

---

Attention : Gabi Kabazo, Chief Financial Officer <br> Email: <>

---

| | |
|:---|:---|
| (b) | if to the Holder: |
|  | Jeffs Brands |
|  | 7 Mezada Street |
|  | Bnei Brak |
|  | Tel Aviv 5126112 |
|  | Israel |

---

Attention : Ronen Zalayet, Chief Financial Officer <br> Email: <>

or such other address as may be designated by notice given by either the Holder or the Company to the other in accordance with this Section 8.1. Each notice shall be personally delivered to the addressee or sent by e-mail to the addressee and a notice which is personally delivered or sent by email shall, if delivered or sent prior to 4:00 p.m. (local time of the recipient) on a Business Day, be deemed to be given and received on that day and, in any other case, be deemed to be given and received on the next Business Day.

8.2 <u>Provisions of this Agreement and Contingent Rights for the Sole Benefit of Parties and Holder</u>. Nothing in this Certificate, expressed or implied, shall give or be construed to give to any person other than the Company and the Holder, as the case may be, any legal or equitable right, remedy or claim under this Certificate, or under any covenant or provision herein or therein contained, all such covenants and provisions being for the sole benefit of the Company and the Holder.

8.3 <u>Governing Law</u>. This Certificate shall be governed by and construed and interpreted in accordance with the laws of the Province of British Columbia and the federal laws of Canada applicable therein without giving effect to the conflicts of laws principles thereof and without reference to the laws of any other jurisdiction and is to be treated in all respects as a British Columbia contract. The Parties agree to submit to the exclusive jurisdiction of the courts of British Columbia, provided that nothing in this Certificate shall prevent either Party from seeking injunctive relief in the courts of any competent jurisdiction.

8.4 <u>Entire Agreement</u>. Other than the Purchase Agreement, this Certificate, constitute the entire agreement among the Company and the Holder hereto pertaining to the subject matter hereof and supersedes all prior agreements, understandings, negotiations, and discussions, whether oral or written, between the Company and the Holder with respect to the subject matter hereof.

8.5 <u>Further Assurances.</u> Each Party will, upon request but without further consideration, from time to time promptly execute and deliver all further documents and instruments and take all further action necessary or appropriate to give effect to and perform the provisions and intent of this Agreement.

8.6 <u>Waiver</u>. No waiver of any provision of this Agreement will constitute a waiver of any other provision, nor will any waiver constitute a continuing waiver unless otherwise expressly provided. Any agreement as to the extension or waiver of any provision of this Agreement by any Party will be valid only if in writing and signed by such Party. No waiver of any breach of any provision of this Agreement will be effective or binding unless made in writing and signed by the Party purporting to give the same and, unless otherwise provided, will be limited to the specific breach waived.

8.7 <u>Enurement</u>. This Agreement shall enure to the benefit of and be binding upon the Parties hereto and their respective successors and permitted assigns.

8.8 <u>Severability</u>. In the event that any provision or part of this Certificate is determined by any court or other judicial or administrative body to be illegal, null, void, invalid or unenforceable, that provision shall be severed to the extent that it is so declared and the other provisions of this Certificate shall continue in full force and effect.

8.9 <u>Counterparts</u>. This Agreement may be executed and delivered in one or more counterparts and may be executed and delivered by any electronically communicated method, each of which when executed and delivered shall be deemed to be an original and all of which counterparts together shall be deemed to constitute one and the same instrument.

*[Remainder of page intentionally left blank.]*

 

IN WITNESS WHEREOF the Company has caused this Certificate to be signed by its duly authorized officer as of [●].

---

| | | |
|:---|:---|:---|
|  | IMPACT ACQUISITION CORP. | IMPACT ACQUISITION CORP. |
| The digital signature shall be deemed |  |  |
| to constitute an original signature to this | Per: | |
| Certificate. |  | *Authorized Signatory* |

---

## Exhibit 4.5

**Exhibit 4.5**

**INTERCOMPANY SERVICES AGREEMENT**

This INTERCOMPANY SERVICES AGREEMENT (the "**Agreement**") is made effective as of July 7, 2025 (the "**Effective Date**") by and between Fort Technology Inc., a company incorporated under the laws of the Canada ("**Company**") and Jeffs' Brands Ltd., a company incorporated under the laws of Israel (the "**Provider**"). Each of the Company and Provider is referred herein as a "**Party**" and collectively, as the "**Parties**".

---

| | |
|:---|:---|
| **WHEREAS,** | the Company is controlled subsidiary of the Provi0der; |

---

---

| | |
|:---|:---|
| **WHEREAS,** | the Company does not possess the necessary resources in order to perform certain services for its own benefit, and Provider has the capacity to provide such services, the Company has therefore requested to receive such services from the Provider and the Provider has agreed to provide the Company with such services in accordance with the terms and conditions of this Agreement; and |

---

---

| | |
|:---|:---|
| **WHEREAS,** | the Parties hereto wish to reduce to writing the agreement between them, upon the terms and subject to the conditions set forth in this Agreement, for the provision of the Services (as defined below); and |

---

---

| | |
|:---|:---|
| **WHEREAS,** | the terms and conditions of this Agreement reflect in writing the past oral arrangements conducted and agreed between the Parties with respect to the provision of the Services. |

---

NOW, THEREFORE, the Parties hereby agree as follows:

1. <u>Provision of Services</u>.

&nbsp;&nbsp;&nbsp;&nbsp;1.1. During the term of this Agreement, the Provider hereby agrees
to provide the services to the Company as may be requested and agreed from time to time by the Company (the "**Services** ").
Such Services may include the services that are listed in  **<u>Annex I</u>** .

&nbsp;&nbsp;&nbsp;&nbsp;1.2. The Parties hereto acknowledge and agree that the Provider shall not be authorized to negotiate any agreements
on behalf of the Company, nor shall it be authorized to enter into agreements or take undertakings on behalf of the Company. The Company
shall be solely and exclusively authorized to enter into such agreements and undertakings on its own behalf. Without limiting the foregoing,
the Provider shall not have, nor hold itself out to the public or otherwise transact business in such as a way as to create the impression
to unrelated third parties that the Provider has, the authority to enter into contracts with any other party on behalf of the Company,
nor to negotiate any orders or conclude any contracts relating to the conduct by the Company of the Company's business.

&nbsp;&nbsp;&nbsp;&nbsp;1.3. The relationship of the Company and the Provider established by this Agreement is that of independent
contractors, and nothing contained in this Agreement shall be construed to (i) give either Party hereto the power to direct and control
the day-to-day activities of the other, (ii) constitute the Parties as partners, joint ventures, principal and agent, employer and employee,
co-owners, or otherwise as participants in a joint undertaking, or (iii) allow the Provider to create or assume any obligation on behalf
of the Company for any purpose whatsoever. All financial and other obligations associated with the Provider's provision of the Services
are the sole responsibility of the Provider. The Provider shall be solely responsible for, and shall indemnify and hold the Company free
and harmless from, any and all claims, damages or lawsuits (including attorneys' fees) arising out of the provision of the Services
by the Provider, its employees or its agents.

&nbsp;&nbsp;&nbsp;&nbsp;1.4. All information received from the Company, whether written or oral, which relates to the Services or the
Company's business or investments, including nonpublic business strategy, identity of invested companies, business and financial
data, shall be considered confidential, but marking is not required. Information of either Party which is clearly marked "confidential"
shall be considered confidential. Each Party shall use reasonable commercial efforts to refrain from disclosing the other Party's
confidential information to anyone but employees and agents who are engaged in providing the Services to the Company and who are under
an obligation of confidentiality.

2. <u>Consideration.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;2.1. <u>Service Rate</u>. In consideration for the Services provided in accordance with the terms of this Agreement,
an intercompany remuneration mechanism will be applied. This mechanism will be mutually determined by the Parties from time to time and
will reflect the arm's length principle, as determined by a transfer pricing study compliant with applicable laws.The Parties agree
that the results of transfer pricing study provided by a third party service provider shall be reviewed on a periodic basis in order to
confirm that such results are consistent with the arm's length principle and may be modified, and shall be subject to  **<u>Annex II</u>** (if applicable).

&nbsp;&nbsp;&nbsp;&nbsp;2.2. <u>Quarterly Invoicing</u>. Unless otherwise agreed upon by the Parties, at the end of each fiscal quarter,
the Provider shall send an invoice to the Company with respect to the payments due . The invoiced amount shall be due and payable within thirty (30) days following the receipt of such invoice. Any amount due under this
Agreement shall be settled either (a) through inter-company accounts, (b) by transfer to such bank account as the Provider may from time
to time notify in writing to the Company or (c) in any other manner agreed between the Parties.

&nbsp;&nbsp;&nbsp;&nbsp;2.3. <u>Annual Adjustment</u>. Within sixty (60) days of the end of each calender year, the Provider or the
Company, as the case may be, shall make an adjusting payment to the other Party ()"**Adjustment**") to ensure compliance
with Section ‎ 2.1 to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;2.4. <u>Delay in Payment</u>. As agreed compensation for a delay in payment which is overdue by more than seven
days, Company shall pay interest at a rate determined in arm's length for any day of the payment delay, in addition to the due payment.

3. <u>Taxes, Fees and Currency</u>.

&nbsp;&nbsp;&nbsp;&nbsp;3.1. Each Party shall bear its own taxes due associated with the payments provided under this Agreement, except
that Provider shall be entitled to add Value Added Tax, if applicable.

&nbsp;&nbsp;&nbsp;&nbsp;3.2. The Company shall be entitled to withhold from the payment due to the Provider any such amount as is required
to be deducted by law. If the Company is required to make such withholding, it shall reasonably attempt to assist the Provider to claim
exemption or reduction of the applicable withholding rate under an applicable tax treaty or similar agreement from time to time in force
and shall give the Provider proper evidence as to the withholding and remittance of the tax or sums withheld.

&nbsp;&nbsp;&nbsp;&nbsp;3.3. The payment by the Company set forth above shall be the full and final consideration for the provision
of the Services by the Provider during the term of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;3.4. Each Party shall be responsible for all fees and expenses incurred in the course of exercising any rights
or responsibilities arising under this Agreement, except at expressly provided under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;3.5. All payments made by the Company to the Provider shall be in GBP, unless otherwise agreed to by both Parties.

4. <u>Certain Rights</u>.

&nbsp;&nbsp;&nbsp;&nbsp;4.1. The Company shall exclusively own all right, title, and interest in and to all of the: (i) proprietary
assets, work product, data, and information created as a result, and in connection with the Provider's provision, of the Services
(collectively, "**Work Product** "), (ii) inventions, improvements, developments, algorithms, processes, formulae, techniques,
and know-how, whether or not patentable or registrable, that are made or conceived or reduced to practice or learned by the Provider,
either alone or jointly with others, as a result, or in connection with the Provider's provision, of the Services, all upon discovery,
receipt, or invention as applicable (collectively, "**Inventions** "); and (iii) patents, copyrights, trade secrets, trademarks
and other intellectual property rights of any nature, including moral rights, in connection with the Work Product and Inventions (collectively,
the foregoing (i) to (iii) are referred to herein as the "**Intellectual Property** "). No license or any other right to
any Intellectual Property is granted to the Provider hereby, other than a royalty free license to the extent required for the sole purpose
of providing the Services hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;4.2. The Provider hereby irrevocably and unconditionally (and for no additional consideration) assigns to the
Company any rights that the Provider may have or acquire in any Intellectual Property, including without limitation, all of the following:
(i) rights associated with works of authorship, including copyrights and copyright applications, moral rights and mask work rights; (ii)
rights relating to the protection of trade secrets and confidential information; (iii) design rights and industrial property rights; (iv)
any other proprietary rights relating to intangible property including patents, trademarks, service marks and applications therefor, trade
names and packaging and all goodwill associated with the same; and (v) all rights to sue for any infringement of any of the foregoing
rights and the right to all income, royalties, damages and payments with respect to any of the foregoing rights. If any right, title and
interest to such Intellectual Property are not originally owned by the Company under applicable law, the Provider hereby agrees to take
any and all other steps, as requested by the Company, necessary to assign, register or vest such ownership in the Company.

5. <u>Term</u>.

&nbsp;&nbsp;&nbsp;&nbsp;5.1. This Agreement shall commence on the Effective Date and shall remain in force for a period of one (1)
year ()"**Initial Term** "). Following the Initial Term this Agreement shall automatically renew for additional successive
12 month periods, unless terminated by a written instrument executed by both Parties, or upon termination by one of the Parties with a
notice period of sixty (60) days.

&nbsp;&nbsp;&nbsp;&nbsp;5.2. Should the Provider breach this agreement, the Company shall be entitled to rescind this agreement subject
to 14 days prior written notice to the Provider.

6. <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;6.1. <u>Governing Law</u>. This Agreement, the performance thereof and all matters arising from and connected
with the Agreement, shall be governed by and construed, solely and exclusively, in accordance with the laws of the State of Israel.

&nbsp;&nbsp;&nbsp;&nbsp;6.2. <u>Dispute Resolution</u>. Any dispute hereunder shall be settled by a binding arbitration in accordance
with the rules of the State of Israel. before one arbitrator appointed under such rules. The arbitration shall be held in English.

&nbsp;&nbsp;&nbsp;&nbsp;6.3. <u>Force Majeure</u>. Nonperformance of either Party shall be excused to the extent that performance is
rendered impossible by strike, fire, flood, hurricanes, earthquakes, any other natural disasters or any epidemics, pandemics or disease
outbreaks, governmental acts, orders or restrictions, or any other reason where failure to perform is beyond the control and not caused
by the negligence of the non-performing Party, provided that the non-performing Party uses its reasonable best efforts to promptly resume
performance once it is possible to do so .

&nbsp;&nbsp;&nbsp;&nbsp;6.4. <u>Waiver; Modification</u>. No waiver of any rights, shall be effective unless consented to in writing
and the waiver of any breach or default shall not constitute a waiver of any other right or any subsequent breach or default. No modification
of the terms of this Agreement shall be effective unless executed by both Parties.

&nbsp;&nbsp;&nbsp;&nbsp;6.5. <u>Notices</u>. All notices and other communications provided for hereunder shall be in writing and mailed
or delivered, to the Parties registered address, or as to each Party, at such other address or to such other person as shall be designated
by such Party in a notice to the other Party. All such notices and communications shall be sent by registered mail and when mailed, shall
be effective three days after being deposited in the mail addressed as aforesaid.

&nbsp;&nbsp;&nbsp;&nbsp;6.6. <u>Severability</u>. The provisions of this Agreement are several, and if any provision shall be held
invalid or unenforceable in whole or in part by a legal instance, then such invalidity or unenforceability shall not in any manner effect
such provision in any other jurisdiction or any other provision of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;6.7. <u>Counterparts</u>. This Agreement may be executed in counterparts, and each counterpart shall have the
same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned. Execution
and delivery of this Agreement by exchange of electronic mails shall constitute a valid and binding execution and delivery of the Agreement
by the respective Party. Such copies sent by electronic mails shall constitute enforceable original documents.

***- Signature Page Follows -***

 ****

 ****

**IN WITNESS WHEREOF** the Parties have signed this Agreement, effective as of the Effective Date.

---

| | | | |
|:---|:---|:---|:---|
| **COMPANY:** | **COMPANY:** | **PROVIDER:** | **PROVIDER:** |
| **Fort Technology Inc.** | **Fort Technology Inc.** | **Jeffs' Brands Ltd.** | **Jeffs' Brands Ltd.** |
| By: | /s/ Gabi Kabazo | By: | /s/ Ronen Zalayet |
| Title: | CEO | Title: | CFO |
| Date: | July 7, 2025 | Date: | July 7, 2025 |

---

<u>Annex I</u>

Services shall include the following:

&nbsp;&nbsp;&nbsp;&nbsp;(i) corporate management services relating to business strategy
and execution;

&nbsp;&nbsp;&nbsp;&nbsp;(ii) corporate support and administrative services, including
services relating to finance, bookeeping and operation; and

&nbsp;&nbsp;&nbsp;&nbsp;(iii) such other services as may be agreed from time to time.

<u>Annex II</u>

The transfer pricing analysis would result in an arm's length range of Operating Margin ratios.

It is noted that due to certain marketing intangibles that the Company had owned prior to its acquisition by the Jeffs' Brands Group, it is entitled to additional return prior to relaying the residual to the Provider. In this light, the Residual Profit Split Method was applied. The first step was allocating the routine market return to the Company for its distribution activities based on an Operating Margin that would fall within the above range. The second step is allocating the residual profits between the Company and the Provider commensurate with the relative value of the contributions of each party: the Company's marketing intangibles on one side and the Provider's provision of the basket of services on the other.

As detailed in the transfer pricing study, the value of marketing intangibles owned by the Company is expected to decay over time.

&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Quarterly Reports</u>. At the end of each fiscal quarter
(or such other date agreed between the Parties), during the term of this Agreement, the Provider shall furnish to the Company a report
listing the services that Provider has provided to the Company during such quarter. Each report shall set forth the cost of services
that Provider incurred in the provision of the Services during that quarter and the Consideration due for such quarter.

&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Annual Reports</u>. Within thirty (30) days following
the end of each calendar year, during the term of this Agreement, the Provider shall furnish to the Company a written statement setting
forth the actual cost of services incurred by the Provider during the previous calendar year.

&nbsp;&nbsp;&nbsp;&nbsp;3. <u>No Additional Payment</u>. Subject to Section ‎2.3
of the agreement, the payments of the Consideration under this Annex II constitute the full consideration for any Services, and the Company
shall not be required to make any additional payments for such Services.

## Exhibit 4.6

**Exhibit 4.6**

**INTERCOMPANY SERVICES AGREEMENT**

This INTERCOMPANY SERVICES AGREEMENT (the **"Agreement'')** is made effective as of March 30, 2023 (the **"Effective Date'')** by and between Fort Products Limited, a company incorporated under the laws of the United Kingdom **("Company'')** and Jeffs' Brands Ltd., a company incorporated under the laws of Israel (the **"Provider'').** Each of the Company and Provider is referred herein as a **"Party''** and collectively, as the **"Parties''.**

---

| | |
|:---|:---|
| **WHEREAS,** | the Company is a wholly-owned subsidiary of the Provider; |
| **WHEREAS,** | the Company does not possess the necessary resources in order to <u>perform</u> certain services for its own benefit, and Provider has the capacity to provide such services, the Company has therefore requested to receive such services from the Provider and the Provider has agreed to provide the Company with such services in accordance with the <u>terms</u> and conditions of this Agreement; and |
| **WHEREAS,** | the <u>Parties</u> hereto wish to reduce to writing the agreement between them, upon the terms and subject to the conditions set forth in this Agreement, for the provision of the Services (as defined below); and |
| **WHEREAS,** | the <u>terms</u> and conditions of this Agreement reflect in writing the past oral arrangements conducted and agreed between the Parties with respect to the provision of the Services. |

---

NOW, THEREFORE, the Parties hereby agree as follows:

1. <u>Provision of Services.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. During
 the terms of this Agreement, the Provider hereby agrees to provide the services to the Company
 as may be requested and agreed from time to time by the Company (the **"Services'').** Such
 Services may include the services that are listed **in <u>Annex I.</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. The
 Parties hereto acknowledge and agree that the Provider shall not be authorized to negotiate
 any agreements on behalf of the Company, nor shall it be authorized to enter into agreements
 or take undertakings on behalf of the Company. The Company shall be solely and exclusively
 authorized to enter into such agreements and undertakings on its own behalf. Without limiting
 the foregoing, the Provider shall not have, nor hold itself out to the public or otherwise
 transact business in such as a way as to create the impression to unrelated third parties
 that the Provider has, the authority to enter into contracts with any other party on behalf
 of the Company, nor to negotiate any orders or conclude any contracts relating to the conduct
 by the Company of the Company's business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3. The
 relationship of the Company and the Provider established by this Agreement is that of independent
 contractors, and nothing contained in this Agreement shall be construed to (i) give either
 Party hereto the power to direct and control the day-to-day activities of the other, (ii)
 constitute the Parties as partners, joint ventures, principal and agent, employer and employee,
 co-owners, or otherwise as participants in a joint undertaking, or (iii) allow the Provider
 to create or assume any obligation on behalf of the Company for any purpose whatsoever. All
 financial and other obligations associated with the Provider's provision of the Services
 are the sole responsibility of the Provider. The Provider shall be solely responsible for,
 and shall indemnify and hold the Company free and harmless from, any and all claims, damages
 or lawsuits (including attorneys' fees) arising out of the provision of the Services by the
 Provider, its employees or its agents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4. All <u>information</u> received from the Company, whether written or oral, which relates to the
 Services or the Company's business or investments, including nonpublic business strategy,
 identity of invested companies, business and financial data, shall be considered confidential,
 but marking is not required. <u>Information</u> of either Party which is clearly marked ''confidential''
 shall be considered confidential. Each Party shall use reasonable commercial efforts to refrain
 from disclosing the other Party's confidential <u>information</u> to anyone but employees
 and agents who are engaged in providing the Services to the Company and who are under an
 obligation of confidentiality.

2. <u>Consideration</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1. <u>Service Rate.</u> In consideration for the Services provided in accordance with the <u>terms</u> of this Agreement, an intercompany remuneration mechanism will be applied. This mechanism
 will be mutually determined by the Parties from time to time and will reflect the arm's length
 principle, as <u>determined</u> by a transfer pricing study compliant with applicable laws.
 The Parties agree that the results of transfer pricing study provided by a third party service
 provider shall be reviewed on a periodic basis in order to confirm that such results are
 consistent with the arm's length principle and may be modified, and shall be subject to  **<u>Annex</u>** <u>II</u> (if applicable).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2. <u>Quarterly Invoicing.</u> Unless otherwise agreed upon by the Parties, at the end of each fiscal quarter,
 the Provider shall send an invoice to the Company with respect to the payments due. The invoiced
 amount shall be due and payable within thirty (30) days following the receipt of such invoice.
 Any amount due under this Agreement shall be settled either (a) through inter-company accounts,
 (b) by transfer to such bank account as the Provider may from time to time notify in writing
 to the Company or (c) in any other manner agreed between the Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3. <u>Annual Adjustment.</u> Within sixty (60) days of the end of each calendar year, the Provider or
 the Company, as the case may be, shall make an adjusting payment to the other Party **(''Adjustment'')** to ensure compliance with Section 2.1 to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4. <u>Delay in Payment.</u> As agreed compensation for a delay in payment which is overdue by more than
 seven days, Company shall pay interest at a rate determined in arm's length for any day of
 the payment delay, in addition to the due payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Taxes, Fees and Currency.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. Each
 Party shall bear its own taxes due associated with the payments provided under this Agreement,
 except that Provider shall be entitled to add Value Added Tax, if applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. The
 Company shall be entitled to withhold from the payment due to the Provider any such amount
 as is required to be deducted by law. If the Company is required to make such withholding,
 it shall reasonably attempt to assist the Provider to claim exemption or reduction of the
 applicable withholding rate under an applicable tax treaty or similar agreement from time
 to time in force and shall give the Provider proper evidence as to the withholding and remittance
 of the tax or sums withheld.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. The
 payment by the Company set forth above shall be the full and final consideration for the
 provision of the Services by the Provider during the term of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4. Each
 Party shall be responsible for all fees and expenses incurred in the course of exercising
 any rights or responsibilities arising under this Agreement, except at expressly provided
 under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5. All
 payments made by the Company to the Provider shall be in GBP, unless otherwise agreed to
 by both Parties.

4. <u>Certain Rights.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1. The
 Company shall exclusively own all right, title, and interest in and to all of the: (i) proprietary
 assets, work product, data, and <u>information</u> created as a result, and in connection
 with the Provider's provision, of the Services (collectively, **"Work Product''),** (ii)
 inventions, improvements, developments, algorithms, processes, <u>formulae,</u> techniques,
 and know-how, whether or not patentable or registrable, that are made or conceived or reduced
 to practice or learned by the Provider, either alone or jointly with others, as a result,
 or in connection with the Provider's provision, of the Services, all upon discovery, receipt,
 or invention as applicable (collectively, **"Inventions'');** and (iii) patents, copyrights,
 trade secrets, trademarks and other intellectual property rights of any nature, including
 moral rights, in connection with the Work Product and Inventions (collectively, the foregoing
 (i) to (iii) are referred to herein as the **"Intellectual Property'').** No license
 or any other right to any Intellectual Property is granted to the Provider hereby, other
 than a royalty free license to the extent required for the sole purpose of providing the
 Services hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2. The
 Provider hereby irrevocably and unconditionally (and for no additional consideration) assigns
 to the Company any rights that the Provider may have or acquire in any Intellectual Property,
 including without limitation, all of the following: (i) rights associated with works of authorship,
 including copyrights and copyright applications, moral
rights and mask work rights; (ii) rights relating to the protection of trade secrets and confidential <u>information;</u> (iii) design
rights and industrial property rights; (iv) any other proprietary rights relating to intangible property including patents, trademarks,
service marks and applications therefor, trade names and packaging and all goodwill associated with the same; and (v) all rights to sue
for any infringement of any of the foregoing rights and the right to all income, royalties, damages and payments with respect to any
of the foregoing rights. If any right, title and interest to such Intellectual Property are not originally owned by the Company under
applicable law, the Provider hereby agrees to take any and all other steps, as requested by the Company, necessary to assign, register
or vest such ownership in the Company.

5. <u>Term.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. This
 Agreement shall commence on the Effective Date and shall remain in force for a period of
 one (1) year **("Initial Term'').** Following the Initial <u>Tenn</u> this Agreement
 shall automatically renew for additional successive 12 month periods, unless <u>terminated</u> by a written instrument executed by both Parties, or upon <u>termination</u> by one of the
 Parties with a notice period of sixty (60) days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2. Should
 the Provider breach this agreement, the Company shall be entitled to rescind this agreement
 subject to 14 days prior written notice to the Provider.

6. <u>Miscellaneous.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1. <u>Governing Law.</u> This Agreement, the <u>performance</u> thereof and all matters arising from and
 connected with the Agreement, shall be governed by and construed, solely and exclusively,
 in accordance with the laws of the State of Israel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2. <u>Dispute Resolution.</u> Any dispute hereunder shall be settled by a binding arbitration in accordance
 with the rules of the State of Israel. before one arbitrator appointed under such rules.
 The arbitration shall be held in English.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3. <u>Force Majeure.</u> Nonperformance of either Party shall be excused to the extent that performance
 is rendered impossible by strike, fire, flood, hurricanes, earthquakes, any other natural
 disasters or any epidemics, pandemics or disease outbreaks, governmental acts, orders or
 restrictions, or any other reason where failure to <u>perform</u> is beyond the control and
 not caused by the negligence of the non-performing Party, provided that the non-performing
 Party uses its reasonable best efforts to promptly resume <u>performance</u> once it is possible
 to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4. <u>Waiver; Modification.</u> No waiver of any rights, shall be effective unless consented to in writing
 and the waiver of any breach or default shall not constitute a waiver of any other right
 or any subsequent breach or default. No modification of the <u>terms</u> of this Agreement
 shall be effective unless executed by both Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5. <u>Notices.</u> All notices and other communications provided for hereunder shall be in writing and mailed
 or delivered, to the Parties registered address, or as to each Party, at such other address
 or to such other person as shall be designated by such Party in a notice
to the other Party. All such notices and communications shall be sent by registered mail and when mailed, shall be effective three days
after being deposited in the mail addressed as aforesaid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6. <u>Severability.</u> The provisions of this Agreement are several, and if any provision shall be held invalid
 or unenforceable in whole or in part by a legal instance, then such invalidity or unenforceability
 shall not in any manner effect such provision in any other jurisdiction or any other provision
 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7. <u>Counterparts.</u> This Agreement may be executed in counterparts, and each counterpart shall have the same
 force and effect as an original and shall constitute an effective, binding agreement on the
 part of each of the undersigned. Execution and delivery of this Agreement by exchange of
 electronic mails shall constitute a valid and binding execution and delivery of the Agreement
 by the respective Party. Such copies sent by electronic mails shall constitute enforceable
 original documents.

***-SIGNATURE PAGE FOLLOWS-***

 ****

 ****

IN **WITNESS WHEREOF** the Parties have signed this Agreement, effective as of the Effective Date.

---

| | | | |
|:---|:---|:---|:---|
| **COMPANY:** | **COMPANY:** | **PROVIDER:** | **PROVIDER:** |
| **FORT PRODUCTS LIMITED** | **FORT PRODUCTS LIMITED** | **JEFFS' BRANDS LTD.** | **JEFFS' BRANDS LTD.** |
| **By:** | **/s/ Ronen Zalayet** | **By:** | **/s/ Oz Adler** |
|  | **Chief Financial Officer** |  | **Chairperson** |
| **/s/ Viki Hakmon** | **/s/ Viki Hakmon** |  |  |
| **Chief Executive Officer** | **Chief Executive Officer** |  |  |

---

<u>Annex I</u>

Services shall include the following:

&nbsp;&nbsp;&nbsp;&nbsp;(i) corporate
management services relating to business strategy and execution;

&nbsp;&nbsp;&nbsp;&nbsp;(ii) corporate
support and administrative services, including services relating to finance, purchasing, inventory, logistics and operation;

&nbsp;&nbsp;&nbsp;&nbsp;(iii) product
management and business analyses; and

&nbsp;&nbsp;&nbsp;&nbsp;(iv) fulfillment
of the Amazon.com conditions and ongoing communications with Amazon.com

&nbsp;&nbsp;&nbsp;&nbsp;(v) management
of campaigns and advertising on Amazon.com

&nbsp;&nbsp;&nbsp;&nbsp;(vi) such
other services as may be agreed from time to time.

<u>Annex II</u>

The transfer pricing analysis would result in an arm's length range of Operating Margin ratios.

It is noted that due to certain marketing intangibles that the Company had owned prior to its acquisition by the Jeffs' Brands Group, it is entitled to additional return prior to relaying the residual to the Provider. In this light, the Residual Profit Split Method was applied. The first step was allocating the routine market return to the Company for its distribution activities based on an Operating Margin that would fall within the above range. The second step is allocating the residual profits between the Company and the Provider commensurate with the relative value of the contributions of each party: the Company's marketing intangibles on one side and the Provider's provision of the basket of services on the other.

As detailed in the transfer pricing study, the value of marketing intangibles owned by the Company is expected to decay over time.

&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Quarterly Reports.</u> At the end of each fiscal quarter (or such other date agreed between the Parties), during the <u>term</u> of this Agreement,
the Provider shall furnish to the Company a report listing the services that Provider has provided to the Company during such quarter.
Each report shall set forth the cost of services that Provider incurred in the provision of the Services during that quarter and the
Consideration due for such quarter.

&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Annual Reports.</u> Within thirty (30) days following the end of each calendar year, during the <u>term</u> of this Agreement, the Provider
shall furnish to the Company a written statement setting forth the actual cost of services incurred by the Provider during the previous
calendar year.

&nbsp;&nbsp;&nbsp;&nbsp;3. <u>No Additional Payment.</u> Subject to Section 2.3 of the agreement, the payments of the Consideration under this Annex II constitute the
full consideration for any Services, and the Company shall not be required to make any additional payments for such Services.

## Exhibit 4.7

**Exhibit 4.7**

**DATED August 8, 2025**

**Fort Technology Inc. (as Lender)**

- **and -**

**EEH Ventures Limited (as Borrower)**

 **- and -**

**Oxford Road Investments Limited (as Company)**

**LOAN AGREEMENT**

**THIS AGREEMENT** is made

**BETWEEN:**

(1) **Fort Technology Inc.,** a company incorporated under the laws of the Province of British Columbia, Canada, company registration
number BC1232620, whose registered office is at 501- 3292 Production Way,
Burnaby, British Columbia V5A 4R4 Canada (the "**Lender** "); and

(2) **EEH Ventures Limited**, a company incorporated under the laws of England and Wales, company registration
number 08549905, whose registered office is at 14 Berkeley Street, Mayfair, London W1J 8DX (the "**Borrower** ").

(3) **Oxford Road Investments Limited,** a company incorporated under the laws of England and Wales, company
registration number 08809538, whose registered office is at 14 Berkeley Street, Mayfair, London W1J 8DX (the "**Company** ").

**IT IS AGREED AS FOLLOWS**

&nbsp;&nbsp;&nbsp;&nbsp;1. The Lender has made or will make available the sum of £2,000,000 (the **"Initial Loan** ")
to the Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;2. The Initial Loan shall be drawn in one tranche upon signing of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;3. An additional amount of £1,000,000 will be made available by the Lender 12 months from the date
of this Agreement upon the demand of the Borrower and on the same terms as the Initial Loan (the "**Additional Loan** ").

&nbsp;&nbsp;&nbsp;&nbsp;4. In consideration of the Lender advancing the Initial Loan and the Additional Loan (to the extent provided)
(together, the "**Loans** "), the Borrower promises to repay the Loans, including all interest accrued, as set forth in
clause 5 below (the "**Loan Amount**") within 3 years as of the date of this Agreement (the **"Repayment Date** ").

&nbsp;&nbsp;&nbsp;&nbsp;5. Interest will accrue on the outstanding balance of the Loans from time to time at the rate of 7.5% per
annum, calculated on a simple interest basis. Interest will accrue daily and will be calculated on the basis of the actual number of days
elapsed and a 365 day/year.

&nbsp;&nbsp;&nbsp;&nbsp;6. Accrued interest will fall due for payment on the Repayment Date, on the date which the Loans becomes
due and payable in accordance with clause 10 below, or, on the date the Loans are repaid by the Borrower as an early repayment.

&nbsp;&nbsp;&nbsp;&nbsp;7. The Lender shall also have the right, but not the obligation, to convert the outstanding principal amount,
including all the interest accrued, of the Loans into share capital of the Borrower as follows:.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 The Initial Loan and all the accrued but unpaid interest on the Initial Loan may be converted into shares
of the Borrower, representing 19.9% of the issued and outstanding share capital on the date of conversion, on a fully diluted basis of
the Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 The Additional Loan and all the accrued but unpaid interest on the Additional Loan, if and when extended
by the Lender, may be converted into additional shares of the Borrower, representing 5.1% of the issued and outstanding share capital
on the date of conversion, on a fully diluted basis of the Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;8. The parties acknowledge and agree that the exercise of the aforementioned conversion right will be subject
to the approval of the TSX Venture Exchange, if required. In addition, as a condition to the extension of the Loans by the Lender, the
Company undertakes to grant the Lender a charge over all surplus proceeds remaining after the full repayment of all amounts due to the
Company's senior lender (the "**Surplus Proceeds** "), being Together Commercial Finance Limited, according to a loan
agreement signed 22 March 2024.. The Company shall enter into a guarantee letter in favor of the Lender, within 14 business days from
the date of this Agreement, substantially in the form attached hereto as Exhibit A.

For the avoidance of doubt, "**Surplus Proceeds**" means any and all funds, receivables, or other monetary recoveries received by the Company from the sale, refinancing, or other disposition of its assets or undertakings, remaining after (i) full and final repayment of all amounts (including principal, interest, fees, and costs) owed to Together Commercial Finance Limited under the senior lending facility dated 22 March 2024, and (ii) payment of any other amounts required by law to have priority over the Lender's security.

&nbsp;&nbsp;&nbsp;&nbsp;9. The Borrower declares that it intends to use the Loans for the purpose of achieving its business objectives,
and that according to its Articles of Association, it is entitled to receive the Loans, that all actions and approvals needed to execute
this Agreement have been done and/ or obtained.

&nbsp;&nbsp;&nbsp;&nbsp;10. The Lender shall be entitled to demand the immediate and full repayment of the Loan Amount, or any outstanding
portion of it, including all the interest accrued, including expenses and/or costs suffered by the Lender, which shall become immediately
due and repayable in any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 the Borrower shall be unable to pay its debts within the meaning of Section 123 of the Insolvency Act
1986 or suspends making payments to any of its creditors or if the Borrower shall declare that it is unable to pay its debts when they
are due;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 if a distress or execution is levied or issued against any of the assets of the Borrower or other legal
process which affects the whole or material part of the assets of the Borrower and not satisfied within 15 business days;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3 if a receiver, liquidator or administrator is appointed or any incumbrancer takes possession of the Borrower's
assets or any part of them or the Borrower requests any court to appoint such a receiver, administrator, manger or similar officer or
any other steps are taken to enforce any charge or other security over any other asset of the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4 any violation of any representation or obligation pursuant to this Agreement which has not been remedied
within 10 business days from the initial written notice by the Lender and /or any person on its behalf; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5 if an order is made or a resolution passed or a petition presented or other steps are taken for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) bankruptcy; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) the making of an administration order against the Borrower; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) the notice of the appointment of an administrator in respect of the Borrower; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) analogous proceeding to those matters specified above under any applicable law in any other jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;11. Upon the occurrence of one or more of the events listed in clause 10 above, the Loans shall stand for
immediate early repayment and the Lender may exercise any legal right and remedy it deems fit to ensure repayment of the Loans. Nothing
in this clause will derogate from any right and remedy the Lender has under any law.

&nbsp;&nbsp;&nbsp;&nbsp;12. The Borrower may voluntarily repay the Loan Amount at any time in full or in part without charge or penalty.

&nbsp;&nbsp;&nbsp;&nbsp;13. All applicable taxes or withholding tax will be paid by each Party, according to the applicable tax laws.

&nbsp;&nbsp;&nbsp;&nbsp;14. No term of this Agreement shall be enforceable by virtue of the Contracts (Rights of Third Parties) Act
1999 by any person who is not a party to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;15. This Agreement is governed by the laws of England and Wales and the parties submit to the nonexclusive
jurisdiction of the High Court of England and Wales.

&nbsp;&nbsp;&nbsp;&nbsp;16. Time is of the essence in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;17. This Agreement constitutes the entire agreement between the parties to this Agreement with respect to
the subject matter thereof and supersedes all prior negotiations, proposals, and agreements, whether oral or written, with respect to
the subject matter thereof.

&nbsp;&nbsp;&nbsp;&nbsp;18. The rights and obligations the Borrower and the Company under this Agreement are not transferable or assignable
by the Borrower or the Company without the prior written consent of the Lender, which may be withheld.

&nbsp;&nbsp;&nbsp;&nbsp;19. Each of the parties to this Agreement shall at the request of any other party, execute and deliver any
further documents and do all acts and things as that party may reasonably require in order to carry out the true intent and meaning of
this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;20. Each party shall be responsible for the payment of their own costs, fees, and expenses in connection with
the negotiation, execution, entering into, performance, or enforcement of this Agreement, including without limitation any legal, financial,
and registration costs.

&nbsp;&nbsp;&nbsp;&nbsp;21. This Agreement may be executed in any number of counterparts and all the counterparts when executed and
taken together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;22. In case any one or more of the provisions contained in this Agreement will for any reason held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality or unenforceability will not affect any other of the provisions hereof
and this Agreement will be construed as if such invalid, illegal or unenforceable provision had never been contained herein.

&nbsp;&nbsp;&nbsp;&nbsp;23. A notice is deemed to have been received (provided that all requirements in this clause have been satisfied):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.1 if delivered by hand, on signature of a delivery receipt or at the time the notice is left at the address;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.2 if sent by pre-paid first-class post or another next working day delivery service providing proof of the
delivery, at 9 am on the second business day after posting or at the time recorded by the delivery service;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.3 if sent by pre-paid airmail providing proof of delivery, at 9.00 am on the fifth business day after posting
or at the time recorded by the delivery service; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.4 is sent by email at the time of the transmission.

**IN WITNESS** whereof this Agreement has been executed by the parties as a deed on the day and year first before written.

---

| |
|:---|
| **<u>LENDER</u>** |
| Signed on behalf of |
| **Fort Technology Inc.** |
| /s/ Gabriel Kabazo |
| Chief Executive Officer |
| **<u>BORROWER</u>** |
| Signed on behalf of |
| **EEH Ventures Limited** |
| /s/ Eitan Eldar |
| Director |
| **<u>COMPANY</u>** |
| Signed on behalf of |
| **Oxford Road Investments Limited** |
| /s/ Geva Dagan |
| Director |

---

**EXHIBIT A – GUARANTY LETTER**

This GUARANTY LETTER ("Agreement") is made and entered into as of __August 2025,

BY:

**Oxford Road Investments Limited**, a company incorporated under the laws of England and Wales, company number 08809538, whose registered office is at 14 Berkeley Street, Mayfair, London W1J 8DX (the "**Guarantor**" or the "**Company**")

IN FAVOUR OF:

**Fort Technology Inc.,** a company incorporated under the laws of the Province of British Columbia, Canada, company number BC1232620, with its registered office at 501-3292 Production Way, Burnaby, British Columbia V5A 4R4 Canada **(the "Lender").**

1. Guarantee

1.1 The Guarantor hereby irrevocably and unconditionally guarantees to grant the Lender a charge over all
Surplus Proceeds remaining after the full repayment of all amounts due to the Company's senior lender, being Together Commercial
Finance Limited, according to a loan agreement signed 22 March 2024.

1.2 The Guarantor hereby irrevocably and unconditionally guarantees to the Lender the due and punctual payment
and performance of all present and future obligations and liabilities of the Borrower to the Lender under the Loan Agreement dated [insert
date] between the Borrower, the Company, and the Lender (the "Loan Agreement"), including the repayment in full of the Loans
(as defined in the Loan Agreement) together with all accrued interest, fees, costs, and expenses (collectively, the "Guaranteed
Obligations")."

1.3 For the purposes of this Agreement, **Secured Property** means all Surplus Proceeds (as defined in
the Loan Agreement) and any related rights, accounts, or receivables into which such Surplus Proceeds are paid

2. Undertakings of the Guarantor

The Guarantor undertakes:

2.1 to notify the Lender immediately upon becoming aware of any event of default or material deterioration
in the value of the Secured Property;

2.2 to execute and deliver all further documents and do all acts necessary to perfect the security interest
created under this Agreement.

3. Ranking

3.1 The rights of the Lender under this Agreement are expressly subordinated to the prior repayment in full
of all obligations owed to Together Commercial Finance Limited under its senior lending facility.

4. Governing Law and Jurisdiction

This Agreement shall be governed by and construed in accordance with the laws of England and Wales, and the parties irrevocably submit to the non-exclusive jurisdiction of the English courts.

**IN WITNESS** whereof this Agreement has been executed by the parties as a deed on the day and year first before written.

---

| |
|:---|
| Signed on behalf of |
| **Oxford Road Investments Limited** |
| Signed on behalf of |
| **Fort Technology Inc.** |

---

## Exhibit 4.8

**Exhibit 4.8**

This GUARANTY LETTER ("Agreement") is made and entered into as of <u>15</u> August 2025,

BY:

**Oxford Road Investments Limited**, a company incorporated under the laws of England and Wales, company number 08809538, whose registered office is at 14 Berkeley Street, Mayfair, London W1J 8DX (the "**Guarantor**" or the "**Company**")

IN FAVOUR OF:

**Fort Technologies Inc.,** a company incorporated under the laws of the Province of British Columbia, Canada, company number BC1232620, with its registered office at 501-3292 Production Way, Burnaby, British Columbia V5A 4R4 Canada **(the "Lender").**

1. Guarantee

1.1 The Guarantor hereby irrevocably and unconditionally guarantees to grant the Lender a charge over all
Surplus Proceeds remaining after the full repayment of all amounts due to the Company's senior lender, being Together Commercial
Finance Limited, according to a loan agreement signed 22 March 2024.

1.2 The Guarantor hereby irrevocably and unconditionally guarantees to the Lender the due and punctual payment
and performance of all present and future obligations and liabilities of the Borrower to the Lender under the Loan Agreement dated 8 August
2025 between the Borrower, the Company, and the Lender (the "Loan Agreement"), including the repayment in full of the Loans
(as defined in the Loan Agreement) together with all accrued interest, fees, costs, and expenses (collectively, the "Guaranteed
Obligations")."

1.3 For the purposes of this Agreement, **Secured Property** means all Surplus Proceeds (as defined in
the Loan Agreement) and any related rights, accounts, or receivables into which such Surplus Proceeds are paid

2. Undertakings of the Guarantor

The Guarantor undertakes:

2.1 to notify the Lender immediately upon becoming aware of any event of default or material deterioration in the value of the Secured
Property;

2.2 to execute and deliver all further documents and do all acts necessary to perfect the security interest created under this Agreement.

3. Ranking

3.1 The rights of the Lender under this Agreement are expressly
subordinated to the prior repayment in full of all obligations owed to Together Commercial Finance Limited under its senior lending facility.

4. Governing Law and Jurisdiction

This Agreement shall be governed by and construed in accordance with the laws of England and Wales, and the parties irrevocably submit to the non-exclusive jurisdiction of the English courts.

**IN WITNESS** whereof this Agreement has been executed by the parties as a deed on the day and year first before written.

---

| |
|:---|
| Signed on behalf of |
| **Oxford Road Investments Limited** |
| /s/ Geva Dagan |
| Director |
| Signed on behalf of |
| **Fort Technologies Inc.** |
| /s/ Gabriel Kabazo |
| Chief Executive Officer |

---

## Exhibit 4.9

**Exhibit 4.9**

**AMENDMENT NO. 1 TO LOAN AGREEMENT**

This first amendment (the "**First Amendment**") is entered into as of January 13, 2026, by and between Fort Technology Inc., a company incorporated under the laws of the Province of British Columbia, Canada (as **Lender**), and EEH Ventures Limited, a company incorporated under the laws of England and Wales (as **Borrower**), and Oxford Road Investments Limited, a company incorporated under the laws of England and Wales (as **Company**) and collectively as the "**Parties**".

**WHEREAS**, the Parties have previously entered into that certain Loan Agreement, dated as of August 8, 2025, (the "**Loan Agreement**"); and

**WHEREAS**, the Agreement includes certain provisions which the Parties mutually wish to amend, as of the Effective Date, as set forth herein.

**NOW, THEREFORE**, the Parties agree to amend the Agreement as follows:

1. Effective
 Date

This First Amendment shall be in effect as of December 31, 2025 (the "**Effective Date**") and shall be attached to the Agreement and become an integral part thereof.

2. <u>The Amendments</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1. As
 of the Effective Date, Section 3 of the Loan Agreement shall be deleted in its entirety and
 references to the "**Additional Loan** ", as defined in Section 3, shall be
 deleted in its entirety **.** 

For the avoidance of doubt, the **Additional Loan** shall be deemed never to have been made available and all references to 'Loans' in the Agreement shall be construed as references to the **Initial Loan** only.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2. Section
 4 shall be deleted in its entirety and replaced with the following:

In consideration of the Lender advancing the Initial Loan, the Borrower promises to repay the Loan, including all interest accrued, as set forth in clause 5 below (the "Loan Amount") within 3 years as of the date of this Agreement (the "Repayment Date").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3. Section
 7 shall be deleted in its entirety and replaced with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 The
 Borrower hereby irrevocably and unconditionally undertakes to transfer to the Lender, upon
 the Lender's written notice of conversion of the outstanding principal amount, including
 all the interest accrued, 4,774 ordinary shares, or any equivalent number of shares resulting
 from any reclassification, subdivision, consolidation, or other variation of share capital,
 in Wigan Topco Limited Reg. no. 14545342 ("Wigan") being all of the shares in Wigan
 legally and beneficially owned by the Borrower, constituting 35.8% of the issued share capital
 of Wigan as at the date of this First Amendment, free and clear of any encumbrances, together
 with all rights attaching thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 Upon
 completion of the transfer, the Loan Amount shall be deemed fully satisfied and discharged.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 The
 Borrower represents and warrants that it is the sole legal and beneficial owner of the Wigan
 shares, that such shares are fully paid, and that no person has any option, charge, lien,
 pre-emption right, or other encumbrance over such shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4 The
 Borrower shall procure all corporate and third-party approvals required to effect the transfer
 of the Wigan shares to the Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5 The
 transfer shall be completed within 10 Business Days following the Lender's written
 notice of conversion, including the delivery of duly executed stock transfer forms and share
 certificates.

3. <u>Miscellaneous</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. This
 First Amendment shall be deemed for all intents and purposes as an integral part of the Agreement
 and/or any amendment thereof. All capitalized terms used in this First Amendment and not
 defined herein, shall have the meanings attributed to them in the Agreement. In the event
 of any inconsistency between the provisions of this First Amendment and the provisions of
 the Agreement and/or any amendment thereof, this First Amendment shall prevail. Except as
 provided explicitly hereto, all other provisions of the Agreement shall continue to be in
 full force and effect, *mutatis mutandis*. For the avoidance of doubt, Clause 8 of the
 Loan Agreement and the guarantee granted thereunder shall remain in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. This
 First Amendment supersedes all prior agreements, written or oral, between the Parties relating
 to the subject matter of this First Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. Any
 provision of this First Amendment may be amended, waived or modified only upon the written
 consent of both Parties.

 

*[Signature Page Follows]*

**IN WITNESS WHEREOF**, the Parties have caused their duly authorized representatives to execute this First Amendment as of the day and year first above written.

---

| |
|:---|
| Signed on behalf of Fort Technolog**y** Inc. |
| /s/ Ronen Zalayet |
| BORROWER |
| Signed on behalf of EEH Ventures Limited |
| /s/ Eitan Eldar |
| COMPANY |
| Signed on behalf of Oxford Road Investments Limited |
| /s/ Eitan Eldar |

---

## Exhibit 4.10

**Exhibit 4.10**

**UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY BEFORE [INSERT THE DATE THAT IS FOUR MONTHS AND ONE DAY AFTER THE ISSUE DATE].**

**WITHOUT PRIOR WRITTEN APPROVAL OF THE TSX VENTURE EXCHANGE AND COMPLIANCE WITH ALL APPLICABLE SECURITIES LEGISLATION, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE TRADED ON OR THROUGH THE FACILITIES OF THE TSX VENTURE EXCHANGE OR OTHERWISE IN CANADA OR TO OR FOR THE BENEFIT OF A CANADIAN RESIDENT UNTIL [INSERT THE DATE THAT IS FOUR MONTHS AND ONE DAY AFTER THE CLOSING DATE.]**

**FORT TECHNOLOGY INC.**

(Existing under the laws of British Columbia)

**10% UNSECURED NON-TRANSFERABLE CONVERTIBLE DEBENTURES**

---

| | |
|:---|:---|
| **CERTIFICATE NUMBER:** | 2025-[●] |
| **HOLDER:** | [●] (the "**Holder**") |
| **PRINCIPAL AMOUNT:** | [●] Debentures, each with a Principal Amount of $1,000 |
| **ISSUE DATE:** | [●], 2025 (the "**Issue Date**") |
| **MATURITY DATE:** | [●], 2027 (the "**Maturity Date**") |
| **INTEREST:** | 10.0% per annum, calculated as non-compounding simple interest and on the basis of a 365 day year, commencing on the Issue Date until the earlier of (a) the Maturity Date and (b) the date on which the Principal Amount of each Debenture has either been repaid in full or converted into Units in accordance with the terms set out in this Certificate.<br>Interest will be payable quarterly, with the first payment being from the period from closing of the Offering to September 30, 2025 (based on the actual number of days elapsed and a 365-day year). All interest owed under the Debentures will be paid by the Issuer in cash. |

---

**Article 1<br> PROMISE TO PAY**

1.1 Promise to Pay

**THIS IS TO CERTIFY THAT FORT TECHNOLOGY INC.** (the "**Company**"), for value received, hereby acknowledges itself indebted and promises to pay to the Holder the Principal Amount and any accrued but unpaid Interest thereon, on presentment and surrender of this Certificate at the principal office of the Company, or its successor in the City of Vancouver, on the Maturity Date, or on such earlier date as the principal hereof becomes payable in accordance with the provisions of this Certificate.

The Debentures represented by this Certificate are part of a private placement of convertible debentures issued under the Agreement, which Agreement and all instruments supplemental thereto are referred to for a description of the terms and conditions upon which the Debentures are issued and held and the rights of the Holder and of the Company, all to the same effect as if the provisions of the Agreement and all instruments supplemental thereto were herein set forth, to all of which the Holder, by acceptance hereof, assents.

In the event of any conflict or inconsistency between the provisions of the Agreement (and any amendments thereto and instruments supplement thereto) and the provisions of this Certificate, except those that are necessary by context, the provisions of this Certificate (and any amendments thereto and instruments supplement thereto) shall prevail.

**Article 2<br> INTERPRETATION**

2.1 Definitions

In this Certificate:

"**Agreement**" means the unsecured convertible debenture subscription agreement between the Company and the Holder, dated [●], 2025, pursuant to which this Certificate is granted;

"**Business Day**" means any day other than a Saturday, a Sunday or a statutory holiday in Vancouver, British Columbia, Canada;

"**Certificate**" means this certificate evidencing the Debentures;

"**Common Shares**" means the common shares without par value in the capital of the Company;

"**Conversion Date**" means the date of delivery by the Holder to the Company of this Certificate together with a Conversion Notice;

"**Conversion Notice**" means a duly completed and executed notice in the form attached hereto as Schedule "A";

"**Conversion Price**" means US$0.133 (C$0.185 as converted into Canadian dollars at the Bank of Canada exchange rate on the Issue Date, being 1:1.3897, and rounded down to the nearest thousandth) per Unit, subject to applicable stock exchange rules and securities legislation;

"**Debentures**" means the 10% unsecured non-transferable convertible debentures of the Company represented by this Certificate;

"**Event of Default**" has the meaning ascribed thereto in section 5.1;

"**Holder**" means the registered holder of this Certificate, as set forth on page 1 of this Certificate;

"**Interest**" has the meaning ascribed thereto in section 3.2.

"**Interest Rate**" means 10% per annum, calculated as non-compounding simple interest, and on the basis of a 365 day year, commencing on the Issue Date until the earliest of (a) the Maturity Date and (b) the date on which the Principal Amount of each Debenture has either been repaid in full or converted into Units in accordance with the terms set out in this Certificate;

"**Issue Date**" has the meaning ascribed thereto on page 1 of this Certificate;

"**Maturity Date**" has the meaning ascribed thereto on page 1 of this Certificate;

"**Person**" means any individual, partnership, limited partnership, joint venture, syndicate, sole proprietorship, company or corporation with or without share capital, unincorporated association, trust, trustee, executor, administrator or other legal personal representative, regulatory body or agency, government or governmental agency, authority or entity however designated or constituted;

"**Prepayment Date**" has the meaning ascribed thereto in section 3.5;

"**Principal Amount**" has the meaning ascribed thereto in section 3.1;

"**this Certificate**", "**hereto**", "**herein**", "**hereof**", "**hereby**", "**hereunder**", and any similar expressions refer to this Certificate and not to any particular Article, section or other portion hereof, and include any and every instrument supplemental hereto or amending any part hereof;

"**TSXV**" means the TSX Venture Exchange and includes any other stock exchange on which the Common Shares may trade;

"**Units**" means units of the Company, each comprised of one Common Share and one Warrant; and

"**Warrant**" means a non-transferable common share purchase warrant entitling the holder thereof to purchase one Common Share at a price of US$0.133 (C$0.185 as converted into Canadian dollars at the Bank of Canada exchange rate on the Issue Date, being 1:1.3897, and rounded down to the nearest thousandth) until [●], 2030, with all Warrants issued on conversion of the Debentures to be evidenced by a warrant certificate in the form attached hereto as Schedule "B".

2.2 Headings

The inclusion of headings in this Certificate is for convenience of reference only and shall not affect the construction or interpretation hereof.

2.3 References to Articles and Sections

Whenever in this Certificate a particular article or section or other portion thereof is referred to, unless otherwise indicated, that reference pertains to the article or section or portion thereof contained herein.

2.4 Currency

Except where otherwise expressly provided, all amounts in this Certificate are stated and shall be paid in Canadian currency.

2.5 Gender and Number

In this Certificate, unless the context otherwise requires, words importing the singular include the plural and *vice versa* and words importing gender include all genders.

2.6 Computation of Time Periods

Except as otherwise specifically provided herein, in the computation of a period of time from a specified date to a later specified date, the word "from" means "from and including" and the words "to" and "until" each mean "to but excluding".

2.7 Actions on Days other Than Business Days

Except as otherwise specifically provided herein, where any payment is required to be made or any other action is required to be taken on a particular day and that day is not a Business Day and, as a result, that payment cannot be made or action cannot be taken on that day, then this Certificate shall be deemed to provide that the payment shall be made or such action shall be taken on the Business Day immediately following such day.

2.8 Invalidity, etc.

Each of the provisions contained in this Certificate is distinct and severable and a declaration of invalidity or unenforceability of any such provision or part thereof by a court of competent jurisdiction shall not affect the validity or enforceability of any other provision hereof.

2.9 Amendment, Waiver

No amendment or waiver of this Certificate shall be binding unless executed in writing by the party to be bound thereby. No waiver of any provision of this Certificate shall constitute a waiver of any other provision nor shall any waiver of any provision of this Certificate constitute a continuing waiver unless otherwise expressly provided.

2.10 Governing Law, Attornment

This Certificate shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the laws of the Province of British Columbia and the federal laws of Canada applicable therein. Any and all disputes arising under this Certificate or any of the Debentures it represents, whether as to interpretation, performance or otherwise, shall be subject to the non-exclusive jurisdiction of the courts of the Province of British Columbia and each of the parties hereto hereby irrevocably attorns to the jurisdiction of the courts of such Province.

**Article 3<br> PRINCIPAL AND INTEREST**

3.1 Promise to Pay Principal

The principal amount of each Debenture is $1,000.00 (the "**Principal Amount**"). The Company agrees to pay to the Holder the Principal Amount for each Debenture represented by this Certificate, unless any such Debenture shall have been previously prepaid, redeemed or converted in accordance with the provisions hereof, together with any accrued and unpaid Interest, on the Maturity Date on presentation and surrender of this Certificate at the principal office of the Company at the address set forth under section 6.1 or at such other place as the Company may advise the Holder in writing.

3.2 Interest

Interest on the Principal Amount of each of the Debentures represented by this Certificate and outstanding at the applicable time shall accrue at the Interest Rate from and after the Issue Date until the earliest of (a) the Maturity Date and (b) the date on which the Principal Amount of each Debenture has either been repaid in full or converted into Units in accordance with the terms set out in this Certificate ("**Interest**"). For greater certainty, all Interest will be paid by the Company in cash and is not convertible into Units.

3.3 Payment of Interest

All amounts paid by the Company to the Holder shall be applied by the Holder, firstly, to the Interest, and secondly, to the outstanding Principal Amount. Interest on any amounts subject to interest under this Certificate shall be calculated and payable in cash quarterly on March 31, June 30, September 30, and December 31 for the 3-month periods ended thereon, with the exception of the first payment to be made on September 30, 2025, for all interest accrued in the period from the Issue Date to September 30, 2025, and the last payment to be made on the Maturity Date, for all interest accrued in the period from June 30, 2027, to the Maturity Date.

Notwithstanding any provision contained herein, the Company shall not be obliged to make any payments of interest or other amounts payable to the Holder hereunder in an amount or at a rate which would be prohibited by applicable law or would result in the receipt by the Holder of interest at a criminal rate (as those terms are construed under the *Criminal Code* (Canada)).

3.4 Prepayment

Notwithstanding any provisions to the contrary, the Company shall have the right to prepay the Principal Amount of any or all of the Debentures, together with the accrued and unpaid Interest on such Debentures at any time prior to the Maturity Date without penalty or premium upon written notice to the Holder regarding its intent to prepay, the amount of such prepayment, the amount of Interest and Principal Amount so prepaid and the effective date of such prepayment (each, a "**Prepayment Date**"). The prepayment will first be applied to the accrued but unpaid Interest and then to the Principal Amount, and upon any prepayment of the Principal Amount, Interest shall be calculated based upon, accrue and be payable on any remaining unsatisfied portion of the Principal Amount from any after such Prepayment Date. On each Prepayment Date, the Debentures shall be deemed to be automatically adjusted to reflect such prepayment. The Company shall be entitled to rely upon the upon the delivery and registration instructions provided by the Holder in the Agreement in respect of the payment of any amounts hereunder. The Company may exercise its prepayment rights at any time and in one or more instances in its sole discretion. In the event the Company issues a notice of prepayment, the Holder may not deliver a Conversion Notice with respect to any Debentures proposed to be repaid by the Company pursuant to such notice; provided, however, that if the prepayment contemplated by such notice is not completed within 15 Business Days of the date of the notice, the Holder shall be permitted to deliver a Conversion Notice to the Company in respect of such Debentures.

**Article 4<br> CONVERSION OF DEBENTURE**

4.1 Holder's Conversion

Subject to and upon compliance with the other provisions of this Certificate, the Principal Amount of any Debenture then outstanding may, at any time prior to the last Business Day prior to the Maturity Date, be surrendered to the Company to acquire Units at the Conversion Price. Any accrued but unpaid Interest on the Conversion Date shall be paid to the Holder in cash in accordance with section 4.3. For greater certainty and notwithstanding any other provision herein, it is understood that conversion of a Debenture must be the conversion of the entire Principal Amount of such Debenture and that the conversion of less than the entire Principal Amount of any Debenture is prohibited.

4.2 Holder's Conversion Procedure

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In order to convert the Debentures to
 Units pursuant to section 4.1, the Holder shall deliver a Conversion Notice to the Company
 accompanied by this Certificate. The surrender of this Certificate accompanied by the Conversion
 Notice shall be deemed to constitute a contract between the Holder and the Company whereby:
 (i) the Holder subscribes for the number of Units which it shall be entitled to receive on
 the conversion of the applicable Debentures; (ii) the Holder releases the Company from all
 liability in respect of the value of the Debentures so converted; and (iii) the Company agrees
 that the surrender of this Certificate constitutes full payment of the subscription price
 for the Units issuable upon the conversion of the applicable Debentures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As promptly as practicable, but in any
 event not later than seven Business Days after the Conversion Date, the Company shall issue
 or cause to be issued and deliver or cause to be delivered to the Holder certificates for
 the applicable number of Common Shares and Warrants deliverable upon the conversion of the
 applicable Debentures, subject to section 4.5. Such conversion shall be deemed to have been
 effected immediately prior to the close of business on the Conversion Date and at such time,
 the rights of the Holder as the holder of the Debentures so converted shall cease. Upon the
 conversion of the applicable Debentures, the Holder shall be deemed to have become at such
 time the holder of record of the Common Shares and Warrants issued upon such conversion.

4.3 Payment of Interest on Conversion

Upon conversion of Debentures, the Company will pay to the Holder the Interest accrued and unpaid on the applicable Debentures up to but excluding the Conversion Date, in cash.

4.4 Limitations of Issuance

Notwithstanding anything contained in sections 4.1 and 4.2, the applicable Common Shares and Warrants will only be issued and registered upon conversion of the applicable Debentures in compliance with the securities laws of any applicable jurisdiction and the policies of the TSXV. Without limiting the generality of the foregoing, in the event that the Debentures represented by this Certificate are converted prior to the expiry of any applicable hold period under applicable securities legislation, the certificates representing the Common Shares and Warrants comprising the Units issuable upon conversion of the applicable Debentures will bear such legend(s) as may, in the opinion of counsel to the Company, be necessary in order to avoid a violation of any securities laws or to comply with the requirements of the TSXV.

4.5 No Fractional Shares

The Company shall not be required to issue fractional Common Shares or Warrants upon the conversion of Debentures. Notwithstanding any other term herein, the Company shall not issue any fraction of a Common Share or Warrant upon the conversion of a Debenture at any time. If a Debenture confers the right to be issued a fraction of a Common Share or Warrant, the number of Common Shares or Warrants to be issued will be rounded down to the nearest whole number without any compensation.

4.6 Adjustment of the Conversion Price

In the event where the Company (i) subdivides its outstanding Common Shares into a greater number of shares or (ii) consolidates its outstanding Common Shares into a lesser number of shares, the Conversion Price will, subject to the approval of the TSXV, be proportionately adjusted as of the effective date of that subdivision or consolidation so that the Holder, on conversion of Debentures after that time, shall be entitled to receive the number of Units which it would have owned or been entitled to receive had the Debentures been converted immediately prior to such time under the Conversion Price on the date of conversion.

4.7 Reclassifications, Reorganizations, Etc.

In case of any reclassification or change of the Common Shares (other than a change as a result of a subdivision or consolidation) or any capital reorganization not otherwise provided for in this Certificate or any amalgamation of the Company with, or merger of the Company into, any other corporation (other than an amalgamation or merger in which the Company is the continuing corporation and which does not result in any reclassification or change, other than as aforesaid, of the Common Shares) or any sale, transfer or other disposition of all or substantially all of the assets of the Company (any of those events, a "**Capital Reorganization**"), the Company or the corporation formed by that amalgamation or the corporation into which the Company shall have been merged or the corporation which shall have acquired such assets, as the case may be, shall execute and deliver to the Holder a supplemental debenture certificate providing that the Holder may thereafter (until the Maturity Date) convert the Debentures to receive the kind and number of shares and other securities and property receivable upon that Capital Reorganization by a holder of the number of Units into which the Debentures might have been converted immediately prior to that Capital Reorganization. That supplemental debenture certificate shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Certificate. The above provisions of this section 4.8 shall similarly apply to successive Capital Reorganizations.

4.8 Cancellation of Debentures

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Certificate shall be marked cancelled
 when surrendered for conversion of all of the Debentures represented thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the Holder submits a Conversion Notice
 requesting the conversion of less than all of the Debentures represented by this Certificate,
 this Certificate shall be marked cancelled and a replacement debenture certificate in the
 same form as this Certificate will be issued to the Holder with the number of Debentures
 represented by such certificate being adjusted to reflect such conversion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If the Company prepays all of the outstanding
 Debentures represented by this Certificate pursuant to Section 3.5, this Certificate shall
 be deemed cancelled with no further action by the Company as of the applicable Prepayment
 Date. For greater certainty, this Certificate will not be marked cancelled if the Company
 prepays less than all of the outstanding Debentures represented thereby, and the number of
 Debentures represented by such certificate shall be deemed to be automatically adjusted to
 reflect such prepayment as specified in Section 3.5.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) This Certificate, if not otherwise cancelled
 prior to the Maturity Date, shall be deemed cancelled with no further action by the Company
 on the Maturity Date following payment of the then outstanding Interest and Principal Amount
 to the Holder by the Company.

4.9 TSXV Approval

Any adjustment to the Conversion Price, except in relation to a share subdivision or consolidation under section 4.8, is subject to the prior approval of the TSXV.

4.10 U.S. Securities Laws Matters

The Debentures, the Common Shares and Warrants issuable on conversion of any of the Debentures, and any common shares without par value of the Company issuable on due exercise of any Warrants, have not been and will not be registered under the U.S. Securities Act or any applicable securities laws of any state of the United States. Notwithstanding any other provision of this Certificate, the rights evidenced by this Certificate may not be exercised except where the Holder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) represents that it (i) is not resident
 in the United States, (ii) is not a U.S. Person, (iii) is not converting the Debentures for
 the account or benefit of a U.S. Person or a person in the United States, (iv) was not in
 the United States at the time the conversion notice attached as Schedule "A"
 hereto was completed and delivered, and (v) is not requesting delivery of the Common Shares
 or Warrants issuable on conversion of the Debentures to an address in the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) (i) is the original purchaser of the Debentures
 convertible into the Common Shares and Warrants pursuant to the Convertible Debenture Offering,
 (ii) completed the "Certification of U.S. Purchaser" attached as Schedule "D"
 to the Agreement, (iii) is converting the Debentures for its own account and benefit or is
 converting the Debentures for the account or benefit of a disclosed principal that was named
 in the Agreement, (iv) is, and such disclosed principal, if any, is an "accredited
 investor" (as defined in Rule 501(a) of Regulation D under the U.S. Securities Act)
 at the time of conversion of the Debentures, and (v) the representations and warranties of
 the Holder made in the Agreement (including the "Certification of U.S. Purchaser"
 attached as Schedule "D" thereto) remain true and correct as of the date of conversion
 of the Debentures; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) has submitted to the Company at the time
 of exercise a written opinion of counsel of recognized standing in form and substance reasonably
 satisfactory to the Company (or such other written documentation that may be reasonably satisfactory
 to the Company) to the effect that the conversion of the Debentures and delivery of the Common
 Shares and Warrants thereunder are exempt from the registration requirements of the U.S.
 Securities Act and any applicable securities laws of any state in the United States.

For the purposes of this Section 4.13, the following terms have the following meanings:

(a) "**Convertible Debenture Offering**" means the offering by the Company of the Debentures at a price of $1,000 per Debenture, which closed on [●], 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "**United States**" has
 the meaning set forth in Rule 902(l) under the U.S. Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "**U.S. Person**" means
 a "**U.S. person**" as defined in Rule 902(k) under the U.S. Securities Act,
 which includes

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a natural person resident in the United
 States,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a partnership or corporation organized
 or incorporated under the laws of the United States,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) an estate of which any executor or administrator
 is a U.S. Person, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) a trust of which any trustee is a U.S.
 Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "**U.S. Securities Act** "
 means the United States Securities Act of 1933, as amended.

**Article 5<br> DEFAULT AND ENFORCEMENT**

5.1 Events of Default

The occurrence of any of the following events shall constitute a default of the Company of its obligations under this Certificate (each, an "**Event of Default**"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company defaults in payment of all
 or any part of the Principal Amount of the Debentures or of any Interest due under the Debentures
 and the terms of this Certificate when the same becomes due under any provision hereof and
 such default continues for a period of 15 Business Days after written notice thereof is given
 to the Company by the Holder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if the Company fails to observe any covenant
 or other obligation to the Holder under this Certificate and such default continues for a
 period of 15 Business Days after notice has been given to the Company by the Holder specifying
 such default and requiring the Company to rectify same;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Company ceases to carry on business
 in the ordinary course; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Company institutes any proceeding
 or takes or authorizes any corporate action or executes any agreement to authorize its participation
 in or commencement of any proceeding:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) seeking to adjudicate it as bankrupt or
 insolvent; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) seeking liquidation, dissolution, winding
 up, reorganization, arrangement, adjustment, protection, relief or composition of its property
 or debt, or making a proposal with respect to it under any law relating to bankruptcy, insolvency,
 reorganization or compromise of debts or other similar laws (including, without limitation,
 any application under the *Companies' Creditors Arrangement Act* (Canada) or the *Bankruptcy and Insolvency Act* (Canada)) or, with respect to reorganization, arrangement
 or compromise of debt, the laws of the jurisdiction of incorporation of the Company;

5.2 Consequences of an Event of Default

In case any Event of Default has occurred and is continuing, the Holder may, forthwith or at any time thereafter (and, if the Holder proceeds under subsection (b) or (c) of this section 5.2, upon 15 Business Days written notice to the Company), except in the event such Event of Default shall have been cured prior to any action by the Holder under this section 5.2 or except as provided by applicable law or this Certificate, take any one or more of the following actions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) declare any or all of the Principal Amount
 and any accrued and unpaid interest to be immediately due and payable by giving written notice
 thereof to the Company and, in such event, such amounts shall be forthwith due and owing
 by the Company to the Holder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) commence legal action to enforce payment
 of the Principal Amount and any accrued and unpaid interest; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) take any other action, suit, remedy or
 proceeding authorized or permitted by this Certificate or by law or equity.

For greater certainty, the existence of an Event of Default and the delivery of a notice or notices or the taking of any action or actions by the Holder under this section 5.2 shall not affect the rights of the Company under section 3.4 hereof.

5.3 No Obligation to Account

The Holder shall not be under any obligation, or be liable or accountable for any failure, to enforce payment of Principal Amount and any accrued and unpaid interest or to exercise any of its rights and remedies hereunder and shall not be under any obligation to institute proceedings for any of such purposes.

**Article 6<br> COMMUNICATION**

6.1 Communication

Any notice or other communication required or permitted to be given hereunder shall be in writing and shall be given by prepaid first-class mail, by email or other means of electronic communication or by hand-delivery as hereinafter provided. Any such notice or other communication, if mailed by prepaid first-class mail at any time other than during, or within three Business Days prior to, a general discontinuance of postal service due to strike, lockout or otherwise, shall be deemed to have been received on the fourth Business Day after the post-marked date thereof, or if sent by email or other means of electronic communication, shall be deemed to have been received on the Business Day immediately following the sending, or if delivered by hand shall be deemed to have been received at the time it is delivered to the applicable address noted below either to the individual designated below or to an individual at such address having apparent authority to accept deliveries on behalf of the addressee. Notice of change of address shall also be governed by this section. In the event of a general discontinuance of postal service due to strike, lock-out or otherwise, notices or other communications shall be delivered by hand or sent by email or other means of electronic communication and shall be deemed to have been received in accordance with the foregoing. Notices and other communications shall be addressed as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if to the Company:

**Fort Technology Inc..**<br> Suite 501, 3292 Production Way,<br> Burnaby, British Columbia, V5A 4R4, Canada<br> Attention: Gabi Kabazo, Chief Executive Officer<br> E-mail: gkabazo@gmail.com

With a copy (which shall not constitute notice) to:

**MLT Aikins LLP**<br> 2600-1066 West Hastings Street,**** <br> Vancouver, British Columbia,**** <br> V6E 3X1, Canada

Attention: Mahdi Shams****<br> E-mail: mshams@mltaikins.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if to the Holder, as provided in the Agreement.

**Article 7<br> GENERAL**

7.1 Transfer

The Debentures represented by this Certificate are non-transferable.

7.2 Insider Filings

The Holder is responsible for the filing of any and all insider filings required under securities laws.

7.3 No Partnership

Each of the Company and the Holder, by its acceptance of this Certificate, disclaims any intention to create a partnership and each asserts that the relationship between them is that of a debtor and creditor, respectively.

7.4 Successors and Assigns

This Certificate shall be binding on the Company and its successors and shall enure to the benefit of the Holder and its successors. This Certificate is not assignable.

7.5 Electronic Signature

This Certificate may be signed by facsimile, email or other electronic means, which shall be deemed to be an original and shall be deemed to have the same legal effect and validity as a certificate bearing an original signature.

7.6 Electronic Transmission

A signed copy of this Certificate transmitted by facsimile, email or other means of electronic transmission shall be deemed to have the same legal effect and validity as delivery of an originally-executed copy of this Certificate, provided that if this Certificate bears an electronic signature as contemplated by section 7.4 above and the Company is delivering this Certificate by electronic transmission pursuant to this section 7.5, then the Company represents to the Holder that the electronically transmitted Debenture shall be the only executed copy to be issued by the Company.

 

*[Remainder of page intentionally left blank.]*

 

 

**IN WITNESS WHEREOF** the Company has executed this Certificate on _____________, 2025.

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| | |
|:---|:---|
| **FORT TECHNOLOGY INC.** | **FORT TECHNOLOGY INC.** |
| By: |  |
|  | *Authorized signatory* |

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**Schedule A<br> CONVERSION NOTICE**

 

*Capitalized terms uses in this Conversion Notice and not otherwise defined have the meanings provided in the certificate to which this Conversion Notice is attached.* 

The undersigned hereby elects to convert all of the principal amount of the Debentures, being $____________________________, represented by this Certificate into _______________________ Units of Fort Technology Inc. in accordance with the terms of this Certificate and directs the Common Shares and Warrants comprising such Units to be registered and certificates therefor to be delivered in accordance with the delivery and registration instructions provided by the Holder with respect to the Debentures below:

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| | |
|:---|:---|
| **<u>Register the Securities as follows</u>:** | **<u>Deliver the Securities as follows</u>:** |
| (Full Name) | (Full Name) |
| (Account reference, if applicable) | (Contact Name) |
| (Address) | (Address) |
| (Address) | (Address) |

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| | |
|:---|:---|
| NOTE: | If Securities are to be issued in the name of, or delivered to, a person other than the holder, the signature must be guaranteed by a Schedule I Canadian chartered bank, or by a medallion signature guarantee from a member of a recognized Signature Medallion Guarantee Program. The Guarantor must affix a stamp bearing the actual words: "SIGNATURE GUARANTEED". For Securities issued to a person other than the registered holder, the holder must pay to the Company all applicable taxes. |

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(Print name in which Securities are to be issued, delivered and registered)

Name: __________________________________________________________

Address:_________________________________________________________

(City, Province and Postal Code)

Name of guarantor: __________________________________________________________

Authorized signature:_________________________________________________________

(Please check the **ONE** box applicable):

☐ A The undersigned holder (i) is not resident in the United States, (ii) is not a U.S. Person, (iii) is not converting the Debentures for the account or benefit of a U.S. Person or person in the United States, (iv) at the time of conversion of the Debentures and the execution and delivery of this exercise form, is not in the United States and (v) the delivery of the underlying Common Shares and Warrants will not be to an address in the United States.

☐ B. The undersigned holder (i) is the original purchaser of the Debentures convertible into the Common Shares and Warrants pursuant to the Convertible Debenture Offering, (ii) completed the "Certification of U.S. Purchaser" attached as Schedule "D" to the Subscription Agreement, (iii) is converting the Debentures for its own account and benefit or for the account and benefit of a disclosed principal that was named in the Subscription Agreement, (iv) is, and such disclosed principal, if any, is, an "accredited investor" as defined in Rule 501(a) of Regulation D under the U.S. Securities Act at the time of conversion of these Debentures, and (v) the representations and warranties of the holder made in the Subscription Agreement, including the "Certification of U.S. Purchaser" attached as Schedule "D" to the Subscription Agreement, remain true and correct as of the date of converting these Debentures.

☐ C. The undersigned holder has delivered to the Company an opinion of counsel (which will not be sufficient unless it is from counsel of recognized standing and in form and substance reasonably satisfactory to the Company) to the effect that the conversion of the Debentures and delivery of the Common Shares and Warrants are exempt from the registration requirements of the U.S. Securities Act and any applicable securities laws of any state of the United States.

Notes:

(1) Certificates or statements will not be registered
 or delivered to an address in the United States unless Box B, or C above is checked.

(2) If Box C above is checked, holders are encouraged
 to consult with the Company in advance to determine that the legal opinion tendered in connection
 with the exercise will be satisfactory in form and substance to the Company. The undersigned
 holder understands that unless box (A) above is checked the certificate representing the
 Common Shares and Warrants will bear or be deemed to bear a legend restricting transfer under
 the U.S. Securities Act and applicable securities laws of any state of the United States
 unless an exemption from registration requirements is available.

The undersigned holder understands that the certificates representing the Common Shares and Warrants issued upon conversion of the Debentures may bear a legend restricting transfer under the U.S. Securities Act.

The undersigned hereby acknowledges and understands that upon issuance of the Securities pursuant to this Conversio Notice, all rights of the undersigned in connection with the Debenture including, but not limited to, payment of the Principal Amount and Interest shall be extinguished.

---

| | |
|:---|:---|
| DATED _____________________, 20______ | Signature |
|  | Name of Authorized Signatory (please print) |
|  | Title of Authorized Signatory (please print) |

---

**Schedule B<br> FORM OF WARRANT CERTIFICATE**

 

*[See Attached.]*

## Exhibit 4.11

**Exhibit 4.11**

**UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY BEFORE [●].**

**THIS WARRANT MAY NOT BE EXERCISED BY OR ON BEHALF OF A "U.S. PERSON" OR A PERSON IN THE UNITED STATES UNLESS THE WARRANT AND THE UNDERLYING SECURITIES HAVE BEEN REGISTERED UNDER THE U.S. SECURITIES ACT AND THE APPLICABLE SECURITIES LEGISLATION OF ANY SUCH STATE, OR AN EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS IS AVAILABLE. "UNITED STATES" AND "U.S. PERSON" ARE AS DEFINED BY REGULATION S UNDER THE U.S. SECURITIES ACT.**

**WITHOUT PRIOR WRITTEN APPROVAL OF THE TSX VENTURE EXCHANGE AND COMPLIANCE WITH ALL APPLICABLE SECURITIES LEGISLATION, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE TRADED ON OR THROUGH THE FACILITIES OF THE TSX VENTURE EXCHANGE OR OTHERWISE IN CANADA OR TO OR FOR THE BENEFIT OF A CANADIAN RESIDENT UNTIL [●].**

**FORT TECHNOLOGY INC.**

**NON-TRANSFERABLE WARRANT CERTIFICATE**

Certificate No: 2025-1

Number of Warrants: [●] Date: [●]

**THIS CERTIFIES THAT**, for value received, [●] (the "**Holder**") is the registered holder of [●] non-transferable common share purchase warrants (each a "**Warrant**"), exercisable to acquire common shares without par value ("**Common Shares**") in the capital of Fort Technology Inc. (the "**Company**"). Each Warrant shall entitle the Holder, subject to the terms and conditions set forth in this certificate (this "**Warrant Certificate**"), to acquire from the Company one Common Share (a "**Warrant Share**") on payment of US$[●] (C$[●] as converted into Canadian dollars at the Bank of Canada exchange rate on the Issue Date, being 1:[●], and rounded down to the nearest thousandth) (the "**Exercise Price**"), all subject to adjustment as hereinafter provided, at any time commencing on the date hereof (the "**Effective Date**") and continuing up to 4:00 p.m. (Vancouver time) on [●] (the "**Time of Expiry**").

1.  **<u>Exercise of Warrants</u>.** 

1.1 **Election to Purchase.** 

The rights evidenced by this Warrant Certificate may be exercised by the Holder in whole or in part at any time commencing on the Effective Date, and continuing up to the Time of Expiry and in accordance with and subject to the provisions hereof. The exercise may be effected by providing to the Company at its offices at Suite 501, 3292 Production Way, Burnaby, British Columbia, V5A 4R4, Canada (or such other address as may be notified in writing by the Company) (i) this Warrant Certificate, (ii) a duly completed and executed election to exercise form in substantially the form attached as Exhibit "1" hereto (the "**Election to Exercise**") and (iii) payment of the aggregate Exercise Price by a certified cheque, bank draft or money order payable at par to the order of the Company, or by wire or electronic funds transfer to an account designated by the Company, in each case in the amount of the aggregate Exercise Price for the number of Warrant Shares specified in the Election to Exercise. Such exercise shall be effective upon the personal delivery to, or if sent by mail or other means of transmission upon actual receipt by, the Company of a duly completed and executed Election to Exercise and the Exercise Price for the number of Warrant Shares specified in the Election to Exercise (the "**Exercise Date**").

1.2 **U.S. Securities Law Matters.** 

The Warrants and any Warrant Shares issuable on exercise of the Warrants have not been and will not be registered under the U.S. Securities Act or any applicable securities laws of any state of the United States. Notwithstanding any other provision of this Warrant Certificate, the rights evidenced by this Warrant Certificate may not be exercised except by a Holder that:

(a) represents that it (i) is not resident in the United States, (ii) is not a U.S. Person, (iii) is not exercising
the Warrants for the account or benefit of a U.S. Person or a person in the United States, (iv) was not in the United States at the time
the exercise form attached as Exhibit "1" hereto was completed and delivered, and (v) is not requesting delivery of the Warrant
Shares to an address in the United States;

(b) (i) is the original purchaser of the convertible debentures convertible into the Warrants pursuant to
the Convertible Debenture Offering, (ii) completed the "Certification of U.S. Purchaser" attached as Schedule "D"
to the subscription agreement pursuant to which the Holder purchased convertible debentures convertible into the Warrants as part of the
Convertible Debenture Offering (the "**Subscription Agreement** "), (iii) is exercising the Warrants for its own account
and benefit or is exercising the Warrants for the account or benefit of a disclosed principal that was named in the Subscription Agreement,
(iv) is, and such disclosed principal, if any, is an "accredited investor" (as defined in Rule 501(a) of Regulation D under
the U.S. Securities Act) at the time of exercise of the Warrants, and (v) the representations and warranties of the Holder made in the
Subscription Agreement (including the "Certification of U.S. Purchaser" attached as Schedule "D" thereto) remain
true and correct as of the date of exercise of the Warrants; or

(c) has submitted to the Company at the time of exercise a written opinion of counsel of recognized standing
in form and substance reasonably satisfactory to the Company (or such other written documentation that may be reasonably satisfactory
to the Company) to the effect that the exercise of the Warrants and delivery of the Warrant Shares are exempt from the registration requirements
of the U.S. Securities Act and any applicable securities laws of any state in the United States.

For the purposes of this Warrant Certificate, the following terms have the following meanings:

(1) "**Convertible Debenture Offering**" means the offering by the Company of 10% unsecured
non-transferable convertible debentures of the Company at a price of $1,000 per debenture, with the principal amount of the convertible
debentures being convertible into units of the Company in accordance with the terms of the convertible debentures specified in the certificates
thereof and with each unit consisting of one Common Share and one Warrant which closed on August 21, 2025.

(2) "**United States**" has the meaning set forth in Rule 902(l) under the U.S. Securities
Act.

(3) "**U.S. Person**" means a "**U.S. person**" as defined in Rule 902(k) under
the U.S. Securities Act, which includes

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a natural person resident in the United States,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a partnership or corporation organized or incorporated under the laws of the United States,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) an estate of which any executor or administrator is a U.S. Person, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) a trust of which any trustee is a U.S. Person.

(4) "**U.S. Securities Act**" means the United States Securities Act of 1933, as amended.

1.3 **Partial Exercise.** 

If the Holder subscribes for a lesser number of Warrant Shares than may be subscribed for pursuant to this Warrant Certificate, the Company shall, contemporaneously with the issuance of the certificates representing the Warrant Shares issuable on the exercise of the Warrants so exercised, issue to the Holder, without charge, a Warrant Certificate on identical terms in respect of that number of Warrant Shares in respect of which the Holder has not exercised the rights evidenced by this Warrant Certificate.

1.4 **Issuance of Warrant Shares.** 

The Company shall, as soon as possible after the Exercise Date, issue the number of Warrant Shares specified in the Election to Exercise. The Warrant Shares issuable upon the exercise of the Warrants shall be deemed to have been issued and the person or persons to whom such Warrant Shares is to be issued shall be deemed to have become the holder or holders of record of such Warrant Shares on the Exercise Date.

1.5 **Insider Filings** 

The Holder is responsible for the filing of any and all insider filings required under securities laws.

1.6 **Certificates.** 

As promptly as practicable after the Exercise Date, the Company shall issue and deliver or cause to be delivered to the Holder, registered in the name of the Holder, at the address specified therein, or, if not so specified in the Election to Exercise, cause to be held for collection by the Holder at the address of the Company as set out in subsection 1.1 (or at such additional place as may be decided by the Company from time to time and notified in writing to the Holder), certificates for that number of Warrant Shares specified in the Election to Exercise and a replacement Warrant Certificate.

1.7 **Fractional Shares.** 

Notwithstanding any other term herein, the Company shall not issue any fraction of a Warrant Share upon the exercise of a Warrant at any time. If a Warrant confers the right to be issued a fraction of a Warrant Share, the number of Warrant Shares to be issued will be rounded down to the nearest whole number without any compensation.

2.  **<u>Anti-Dilution Protection</u>.** 

2.1 **Adjustments.** 

Subject to Section 2.2, the Exercise Price and the number of Warrant Shares issuable upon the exercise of the Warrants are subject to the following adjustments each time such an event occurs.

(a) If the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) subdivides or splits the outstanding Common Shares into a greater number of Common Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) reduces, combines or consolidates the outstanding Common Shares into a smaller number of Common Shares;
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) fixes a record date for the issue of, or issues, Common Shares or securities convertible into or exchangeable
for Common Shares to all or substantially all of the holders of Common Shares by way of a stock dividend or other distribution,

the Exercise Price in effect on the effective date of that subdivision, split, reduction, combination or consolidation or on the record date for that issue of Common Shares by way of a dividend or distribution will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) in the case of an event referred to in (i) or (iii), decrease in proportion to the number of outstanding
Common Shares resulting from that subdivision, split or dividend; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) in the case of an event referred to in (ii), increase in proportion to the number of outstanding Common
Shares resulting from that reduction, combination or consolidation.

Any adjustment to the Exercise Price under this Section 2.1(a) will include a corresponding adjustment to the number of Warrant Shares or other classes of shares or securities that the Holder is entitled to receive upon exercise of the Warrants (and which, as at the date of this certificate, is equal to one Warrant Share per Warrant).

2.2 **Rules.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The adjustments referred to in Section 2.1 are cumulative. No adjustment in the Exercise Price will occur
unless the adjustment results in a change of at least one per cent in the Exercise Price then in effect and no adjustment will occur to
the number of Warrant Shares issuable upon exercise of the Warrants unless it results in a change of at least one one-hundredth of a Warrant
Share; except that any adjustments that, except for this Section 2.2(a), would otherwise have occurred will be carried forward and taken
into account in any subsequent adjustment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No adjustment in the Exercise Price or in the number or kind of securities issuable upon the exercise
of a Warrant will occur in respect of an event described in this Section 2 if the Holder is entitled to participate in that event on the
same terms, with the necessary modifications, as if the Holder had exercised the Warrant before or on the record date or effective date,
as the case may be, of the event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In any case in which this Section 2 provides that an adjustment become effective immediately after a record
date for an event referred to in Section 2.1, the Company may defer, until the occurrence of that event, issuing to the Holder any additional
Common Shares issuable by reason of the adjustment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If a dispute arises with respect to any adjustment of the Exercise Price or the number of Warrant Shares
issuable under the Warrants, that dispute shall be conclusively determined by the Company's auditors or, if they are unable or unwilling
to act, by such other firm of independent chartered accountants as may be selected by the Company's board of directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Notwithstanding anything to the contrary herein, any adjustments to the Exercise Price is subject to the
prior approval of the TSX Venture Exchange (the "**TSXV**") other than adjustments in relation to a subdivision or split
of the outstanding Common Shares into a greater number of Common Shares and in relation to a reduction, combination, or consolidation
of the outstanding Common Shares into a smaller number of Common Shares.

2.3 **Taking of Actions.** 

Before taking an action that would require an adjustment under Section 2.1, the Company shall take all actions that may, in the opinion of its counsel, be necessary in order that the Company may validly and legally issue as fully paid and non-assessable shares or other securities, all of the Common Shares or other securities that the Holder is entitled to receive in accordance with this Section 2, including receipt of all necessary regulatory approvals.

2.4 **Notice of Adjustment.** 

Upon any adjustment of the Exercise Price or any increase or decrease in the number of Warrant Shares issuable upon exercise of Warrants, or other adjustment referred to in Section 2.1(b) above, the Company shall give written notice thereof to the Holder at its address as shown on the books of the Company. The notice shall state the Exercise Price resulting from the adjustment and the increase or decrease, if any, in the number of Warrant Shares purchasable at that price upon exercise of the Warrants, setting forth in reasonable detail the method of calculation and the facts upon which the calculation is based.

3.  **<u>Covenants by the Company</u>.** 

The Company hereby covenants and agrees as follows:

(a) there will remain unissued out of its authorized capital, solely for the purpose of issuing upon the exercise
of the Warrants, a sufficient number of Common Shares to satisfy the rights of acquisition provided for in this Warrant Certificate; and

(b) it will, at its expense and as expeditiously as possible, use its reasonable commercial efforts to cause
all Warrant Shares issuable upon the exercise of the Warrants to be duly listed on the TSXV or any other recognized stock exchange upon
which the Common Shares may be then listed prior to the issuance of such shares.

4.  **<u>Representations and Warranties of the Company</u>.** 

The Company hereby represents and warrants that:

(a) it is duly authorized and has all necessary corporate power and authority to create and/or issue, as applicable,
the Warrants evidenced hereby and the Warrant Shares issuable upon the exercise of the Warrants;

(b) this Warrant Certificate has been duly executed and the Warrants evidenced hereby represent valid, legal
and binding obligations of the Company enforceable in accordance with their terms, and the Company has the power and authority to issue
this certificate and to perform each of its obligations as herein contained; and

(c) the execution and delivery of this Warrant Certificate by the Company are not, and the issuance of the
Warrant Shares upon exercise of the Warrants in accordance with the terms hereof, will not be, inconsistent with the Company's constating
documents, and do not and will not contravene any provision of, or constitute a default under, any applicable law or any indenture, mortgage,
contract or other instrument of which the Company is a party or by which it is bound.

5.  **<u>Transfer of Warrants</u>.** 

The Warrants are non-transferable.

6.  **<u>Replacement</u>.** 

Upon receipt of evidence satisfactory to the Company, acting reasonably, of the loss, theft, destruction or mutilation of this Warrant Certificate, the Company shall issue and deliver to the Holder a replacement certificate containing the same terms and conditions as this Warrant Certificate.

7.  **<u>Expiry</u>.** 

The Warrants shall expire and all rights to purchase Warrant Shares hereunder shall cease and become null and void at the Time of Expiry.

8.  **<u>Time</u>.** 

Time shall be of the essence of this Warrant Certificate.

9.  **<u>Governing Law</u>.** 

This Warrant Certificate and its application and interpretation shall be governed by and interpreted and construed in accordance with the laws of the Province of British Columbia. The parties hereto irrevocably attorn to the exclusive jurisdiction of the courts of British Columbia in the City of Vancouver in and of this Warrant Certificate.

10.  **<u>Legends on Warrant Shares</u>.** 

Notwithstanding anything herein contained, the Warrant Shares will only be issued and registered upon exercise of the Warrants in compliance with the securities laws of any applicable jurisdiction and, without limiting the generality of the foregoing, in the event that the Warrants are exercised prior to the expiry of any applicable hold period under applicable securities legislation, the certificates representing the Warrant Shares thereby issued will bear such legend as may, in the opinion of counsel to the Company be necessary in order to avoid a violation of any securities laws applicable in Canada, the United States or any other jurisdiction having authority or to comply with the requirements of any stock exchange on which the securities of the Company are listed, provided that if, at any time, in the opinion of counsel to the Company, such legends are no longer necessary in order to avoid a violation of any such laws, or the holder of any such legended certificate, at the holder's expense, provides the Company with evidence satisfactory in form and substance to the Company (which may include an opinion of counsel satisfactory to the Company to the effect that such holder is entitled to sell or otherwise transfer such Warrant Shares in a transaction in which such legends are not required), such legended certificate may thereafter be surrendered to the Company in exchange for a certificate which does not bear such legend.

In accordance with applicable Canadian securities laws, all Warrant Shares issued prior to the date that is four months and a day following the date of the applicable closing under the Convertible Debenture Offering shall bear the following legend:

**UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS<br> SECURITY MUST NOT TRADE THE SECURITY BEFORE DECEMBER 21, 2025.**

11.  **<u>Amendments</u>.** 

Any alteration, amendment or revision to this Warrant Certificate may only be made by a written agreement between the Company and the Holder, and with the consent of the applicable stock exchanges, if applicable.

12.  **<u>Miscellaneous Interpretation Matters</u>.** 

(a) The division of this Warrant Certificate into sections and subsections and the insertion of headings are
for convenience of reference only and shall not affect the construction or interpretation hereof.

(b) Unless otherwise expressly provided or unless the context otherwise requires, words importing the singular
include the plural and vice versa and words importing gender include all genders.

(c) The use of the words, "includes" or "including" shall be deemed to mean "includes,
without limitation", or "including, without limitation", as applicable, in each case whether or not they are in fact
followed by such words or words of like import.

(d) For the purposes hereof, "trading day" means any day on which the TSXV (or such other stock
exchange on which the Common Shares are then listed for trading) is open for trading and, if any period expires or any day on which any
action is to be taken under this Warrant Certificate falls on a day which is not a trading day, it shall be deemed to refer to the next
trading day.

13.  **<u>Severability</u>.** 

If any covenant or provision herein or any portion hereof is determined to be void, unenforceable or prohibited by the law of any province or the local requirements of any provincial or federal government authority, such shall not be deemed to affect or impair the validity of any other covenant or provision herein or a portion thereof, as the case may be, nor the validity of such covenant or provision or a portion thereof, as the case may be, in any other jurisdiction.

14.  **<u>Enurement</u>.** 

This Warrant Certificate and all of its provisions shall enure to the benefit of the Holder and its successors or personal representatives and shall be binding upon the Company, its successors and permitted assigns.

15.  **<u>Language</u>.** 

The parties hereto acknowledge and confirm that they have requested that this Warrant Certificate as well as all notices and other documents contemplated hereby be drawn up in the English language.

16.  **<u>General</u>.** 

This Warrant Certificate is not valid for any purpose whatsoever unless and until it has been signed by or on behalf of the Company. The holding of the Warrants evidenced by this Warrant Certificate shall not be construed as conferring upon the Holder any right or interest whatsoever as a shareholder of the Company nor entitle the Holder to any right or interest in respect thereof except as expressly provided in this Warrant Certificate. The Company will do, execute, acknowledge and deliver or cause to be done, executed, acknowledged and delivered, all other acts, deeds and assurances in law as may be reasonably required for better accomplishing and effecting the intentions and provisions of this Warrant Certificate.

**[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]**

**IN WITNESS WHEREOF**, the Company has caused this Warrant Certificate to be executed by its duly authorized officer as of the date set forth below.

**DATED** as of the [●] day of [●], [●].

---

| | |
|:---|:---|
| **FORT TECHNOLOGY INC.** | **FORT TECHNOLOGY INC.** |
| Name: | Gabi Kabazo |
| Title: | Chief Executive Officer |

---

Signature Page to Warrant Certificate

**EXHIBIT "1"**

**Election to Exercise**

The undersigned hereby irrevocably elects to exercise the number of the Warrants of Fort Technology Inc. set out below for the number of Warrant Shares as set forth below:

(i) Number of Warrants
 to be exercised:

(ii) Number of Warrant Shares:

(iii) Exercise Price:

(iv) Aggregate
 Purchase Price [(ii) multiplied by (iii)]: $

(v) Direction
 as to Registration:

---

| |
|:---|
| Name of Registered Holder |
| Address of Registered Holder |
| Phone Number of Registered Holder |
| E-mail of Registered Holder |

---

and hereby tenders the original Warrant Certificate representing the Warrants and a certified cheque, bank draft or cash, or immediately available funds by wire or electronic funds transfer, for such aggregate purchase price, and directs such Warrant Shares to be registered and certificates therefor to be issued as directed above.

(Please check the **ONE** box applicable):

☐ A. The undersigned holder (i) is not resident in the United States, (ii) is not a U.S. Person, (iii) is not exercising the Warrants for the account or benefit of a U.S. Person or person in the United States, (iv) at the time of exercise of the Warrants and the execution and delivery of this exercise form, is not in the United States and (v) the delivery of the underlying Warrant Shares will not be to an address in the United States.

☐ B. The undersigned holder (i) is the original purchaser of the convertible debentures convertible into the Warrants pursuant to the Convertible Debenture Offering, (ii) completed the "Certification of U.S. Purchaser" attached as Schedule "D" to the Subscription Agreement, (iii) is exercising the Warrants for its own account and benefit or for the account and benefit of a disclosed principal that was named in the Subscription Agreement, (iv) is, and such disclosed principal, if any, is, an "accredited investor" as defined in Rule 501(a) of Regulation D under the U.S. Securities Act at the time of exercise of these Warrants, and (v) the representations and warranties of the holder made in the Subscription Agreement, including the "Certification of U.S. Purchaser" attached as Schedule "D" to the Subscription Agreement, remain true and correct as of the date of exercise of these Warrants.

☐ C. The undersigned holder has delivered to the Company an opinion of counsel (which will not be sufficient unless it is from counsel of recognized standing and in form and substance reasonably satisfactory to the Company) to the effect that the exercise of the Warrants and delivery of the Warrant Shares are exempt from the registration requirements of the U.S. Securities Act and any applicable securities laws of any state of the United States.

Notes:

(1) Certificates or statements will not be registered or delivered to an address in the United States unless
Box B, or C above is checked.

(2) If Box C above is checked, holders are encouraged to consult with the Company in advance to determine
that the legal opinion tendered in connection with the exercise will be satisfactory in form and substance to the Company. The undersigned
holder understands that unless box (A) above is checked the certificate representing the Warrant Shares will bear or be deemed to bear
a legend restricting transfer under the U.S. Securities Act and applicable securities laws of any state of the United States unless an
exemption from registration requirements is available.

Capitalized terms not otherwise defined in this exercise form have the meanings set forth in the Warrant Certificate representing the Warrants.

The undersigned holder understands that the certificates representing the Warrant Shares issued upon exercise of the Warrants may bear a legend restricting transfer under the U.S. Securities Act.

DATED this _________day of __________________20______.

Per:___________________________________

## Exhibit 4.12

**Exhibit 4.12**

**DEBT SETTLEMENT AGREEMENT**

THIS AGREEMENT made effective as of December 24, 2025.

AMONG:

**FORT TECHNOLOGY INC.**, a corporation having an address at suite 501 – 3292 Production Way, Burnaby, British Columbia V5A 4R4, Canada

(the "**Debtor**")

AND:

**JEFFS' BRANDS LTD**, a company having an address at 7 Mezada Street, Bnei Brak, 5126112 Israel

(the "**Creditor**")

**WHEREAS:**

A. Fort Products Limited and Fort Products LLC (together, the "**Subsidiaries**") were indebted
to the Creditor in the aggregate amount of $2,462,767.00 (the "**Debt** "), incurred in connection with payments made by
the Creditor to third party vendors on behalf the Subsidiaries and management fees for its services;

B. the Debtor assumed the Debt from the Subsidiaries pursuant to assignment agreements each dated November
12, 2025 (the "**Assignment Agreements** "); and

C. having assumed the Debt pursuant to the Assignment Agreements, the Debtor wishes to settle the Debt, and
the Creditor has agreed to accept such settlement, by the issuance of common shares in the capital of the Debtor (the "**Common Shares** ", and the Common Shares issued in settlement of the Debt, the "**Settlement Shares**") at a deemed price
equal to the current market price of the Common Shares on the date that the Debtor disseminates a news release announcing the settlement
of the Debt and the proposed issuance of the Settlement Shares, in full and final settlement of the Debt, pursuant to the terms and conditions
set forth in this Agreement.

**NOW THEREFORE THIS AGREEMENT** witnesses that, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

**1.** **INTERPRETATION** 

1.1 In this Agreement, words importing the singular number only
will include the plural and vice versa, words importing gender will include all genders and words importing persons will include individuals,
corporations, partnerships, associations, trusts, unincorporated organizations, governmental bodies and other legal or business entities
of any kind whatsoever.

1.2 Any reference to currency is to the lawful currency of Canada unless otherwise indicated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. ACKNOWLEDGEMENT OF INDEBTEDNESS

2.1 The Debtor acknowledges and agrees that as of the date hereof
the Debtor is indebted to the Creditor in the amount of the Debt.

**3.** **SETTLEMENT OF INDEBTEDNESS** 

3.1 As full and final payment and satisfaction of the Debt, the
Debtor will on the Closing Date (as defined herein) deliver to the Creditor the Settlement Shares registered in the name of the Creditor
and the Creditor will accept the Settlement Shares as full and final payment and settlement of the Debt. The parties acknowledge and
agree that as at and from the Closing Date (as defined below) the parties will have no further obligations to each other in relation
to the Debt.

**4.** **REGULATORY APPROVAL** 

4.1 This Agreement and the issuance of the Settlement Shares are
subject to the approval of the TSX Venture Exchange (the "**TSXV** ").

4.2 The Debtor will promptly make application for acceptance to
the TSXV and will use reasonable commercial efforts to obtain confirmation of such acceptance from the TSXV.

4.3 The Creditor agrees to provide the Debtor any supporting documents
and information regarding the Debt, which the TSXV may reasonably request to verify or substantiate the Debt.

**5.** **RELEASE** 

5.1 The Creditor agrees that, upon delivery of the Settlement Shares
by the Debtor in accordance with the provisions of this Agreement, the Debt will be fully satisfied and extinguished, and at such time:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Creditor, for itself and its successors, assigns, heirs, administrators, representatives, agents,
associates and affiliates (collectively, the "**Releasors**") irrevocably and unconditionally remises, releases, quit-claims
and forever discharges (the "**Release**") the Debtor and their present, former and future directors, officers, shareholders,
associates, affiliates, partners, servants, agents, employees, contractors and their respective predecessors, successors, personal representatives,
agents and assigns (collectively, the "**Releasees**") of and from any and all manner of actions, causes, damages, claims,
demands, obligations, liabilities and compensation of whatsoever kind and however arising under the Debt (collectively, the "**Claims** "),
whether at law or in equity, which the Releasors ever have or hereafter can, will or may have at any time in the future, or by reason
of or in any way arising out of any action or inaction by or otherwise reflected in any way to the Releasees existing up to and including
the date of this Release as such Claims relate to the Debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Releasors further covenant and agree not to directly or indirectly join, assist, aid or act in concert
in any manner whatsoever with any other person in the making of any claim or demand or in the bringing of any proceeding or action in
any manner whatsoever against the Releasees or any of them with respect to the matters released by this Release or with respect to which
the Releasors agree not to make any claim or take any proceedings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Releasors further covenant and agree not to make or continue any claim or complaint or initiate or
continue any proceeding against any person which might be entitled to claim, pursuant to the provisions of any applicable statute or otherwise,
contribution, indemnity or other relief against the Releasees or any of them arising out of or in relation to the matters released or
discharged pursuant to this Release; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Releasors hereby represent, warrant and covenant that they have not assigned and will not assign to
any other person any of the Claims that they are releasing hereunder.

5.2 For greater certainty, this release will not apply to any and
all claims or demands arising by virtue of the Creditor being a shareholder of the Debtor.

**6.** **DOCUMENTS REQUIRED FROM THE CREDITOR** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 The Creditor must complete, sign and return to the Debtor:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any documents, notices and undertakings as may be required by regulatory authorities and applicable law.

7. CLOSING

Closing of the transaction contemplated herein (the "**Closing**") will occur within five business days after the date on which the TSXV provides its conditional acceptance for the issuance of Settlement Shares, or on such date as may be determined by the Debtor (the "**Closing Date**").

8. ACKNOWLEDGEMENTS OF CREDITOR

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 The Creditor acknowledges and agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Creditor has received and carefully read this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Creditor and the Creditor's advisor(s) have had a reasonable opportunity to ask questions of
and receive answers from the Debtor in connection with the issuance of the Settlement Shares hereunder, and to obtain additional information,
to the extent possessed or obtainable by the Debtor without unreasonable effort or expense;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Settlement Shares will be subject to resale restrictions as required by applicable securities laws
and the policies of the TSXV, the certificates representing the Settlement Shares will bear appropriate legends and the Creditor will
seek its own independent legal advice regarding such resale restrictions imposed on the Settlement Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Creditor has been advised to consult the Creditor's own legal, tax and other advisors with respect
to the merits and risks of an investment in the Settlement Shares and with respect to applicable resale restrictions, and it is solely
responsible (and the Debtor are not in any way responsible) for compliance with applicable resale restrictions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) there is no government or other insurance covering any of the Settlement Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the Debtor is relying on an exemption from prospectus requirements found in Section 2.14 of National Instrument
45-106 *Prospectus Exemptions* to issue the Settlement Shares to the Creditor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the issuance and sale of the Settlement Shares to the Creditor will not be completed if it would be unlawful
or if, in the discretion of the Debtor acting reasonably, it is not in the best interests of the Debtor; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) this Agreement is not enforceable by the Creditor unless it has been accepted by the Debtor.

9. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE CREDITOR

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 By executing this Agreement, the Creditor represents, warrants and covenants to the Debtor that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Creditor has the legal capacity and competence to enter into and execute this Agreement and to take
all actions required pursuant hereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Debt is a *bona fide* debt incurred for value;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the entering into this Agreement and the transactions contemplated hereby do not result in the violation
of any of the terms and provisions of any law applicable to the Creditor or of any agreement, written or oral, to which the Creditor may
be a party or by which the Creditor is or may be bound;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Creditor has duly executed and delivered this Agreement and it constitutes a valid and binding agreement
of the Creditor enforceable against the Creditor; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Creditor has received and carefully read this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 The Creditor agrees that the representations, warranties and
covenants of the Creditor herein will be true and correct both as of the execution of this Agreement and as of the Closing, and will
survive the completion of the distribution of Settlement Shares and any subsequent disposition by the Creditor of the Settlement Shares
to the extent they so survive according to their terms and under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. COLLECTION OF PERSONAL INFORMATION

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 The Creditor acknowledges and consents to the fact that the
Debtor is collecting the Creditor's personal information which may be disclosed by the Debtor to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the TSXV or securities regulatory authorities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Debtor's registrar and transfer agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Canadian tax authorities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) regulatory authorities responsible for administering the *Proceeds of Crime (Money Laundering) and Terrorist Financing Act* (Canada).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 By executing this Agreement, the Creditor is deemed to be consenting
to the foregoing collection, use and disclosure of the Creditor's personal information and to the retention of such personal information
for as long as permitted or required by law or business practice. The Creditor also consents to the filing of copies or originals of
any of the Creditor's documents described herein as may be required to be filed with the TSXV or any securities regulatory authority
in connection with the transactions contemplated hereby. An officer of the Debtor is available to answer questions about the collection
of personal information by the Debtor.

11. ACKNOWLEDGEMENT

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1 The Creditor acknowledges that it is responsible for obtaining
such legal and tax advice as it considers appropriate in connection with the execution, delivery and performance by it of this Agreement.

12. GOVERNING LAW

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1 This Agreement is governed by the laws of the Province of British
Columbia and the federal laws of Canada applicable therein. The parties irrevocably attorn to the exclusive jurisdiction of the courts
of the Province of British Columbia.

13. SURVIVAL

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1 This Agreement, including without limitation the representations,
warranties and covenants contained herein, will survive and continue in full force and effect and be binding upon the parties hereto
notwithstanding the completion of the purchase of the Settlement Shares by the Creditor pursuant hereto.

14. ASSIGNMENT

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1 This Agreement is not transferable or assignable.

15. TIME OF ESSENCE

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.1 Time will be of the essence of this Agreement.

16. EXECUTION

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1 The Debtor will be entitled to rely on delivery by facsimile
machine or electronic mail of an executed copy of this Agreement and acceptance by the Debtor of such facsimile or electronic copy will
be equally effective to create a valid and binding agreement between the Creditor, the Debtor in accordance with the terms hereof.

17. SEVERABILITY

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.1 If any provision of this Agreement or any part of any provision
of this Agreement is held under any circumstances to be invalid or unenforceable in any jurisdiction, then

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) such provision or part thereof will, with respect to such circumstances and in such jurisdiction, be deemed
amended to conform to applicable laws so as to be valid and enforceable to the fullest possible extent,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the invalidity or unenforceability of such provision or part thereof under such circumstances and in such
jurisdiction will not affect the validity or enforceability of such provision or part thereof under any other circumstances or in any
other jurisdiction, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) such invalidity or unenforceability of such provision or part thereof will not affect the validity or
enforceability of the remainder of such provision or the validity or enforceability of any other provision of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.2 Each provision of this Agreement is separable from every other
provision of this Agreement, and each provision of this Agreement is separable from every other part of such provision.

18. ENTIRE AGREEMENT

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.1 Except as expressly provided in this Agreement and in the agreements,
instruments and other documents contemplated or provided for herein, this Agreement contains the entire agreement between the parties
with respect to the sale of the Settlement Shares and there are no other terms, conditions, representations or warranties, whether expressed,
implied, oral or written, by statute or common law, by the Debtor or by anyone else.

19. AMENDMENT

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.1 Except as otherwise provided herein, this Agreement may only
be amended by each of the parties hereto in writing.

20. NOTICES

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.1 All notices and other communications hereunder will be in writing
and will be deemed to have been duly given if mailed or transmitted by any standard form of telecommunication. Notices to the Creditor
and the Debtor will be directed to the address on page 1.

21. COUNTERPARTS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.1 This Agreement may be executed in any number of counterparts,
each of which, when so executed and delivered, will constitute an original and all of which together will constitute one instrument.

[*Remainder of page intentionally left blank*.]

**IN WITNESS WHEREOF** the parties have duly executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **FORT TECHNOLOGY INC.** | **FORT TECHNOLOGY INC.** |
| Per:<u> </u> | /s/ Gabriel Kabazo |
|  | *Authorized signatory* |
| **JEFFS' BRANDS LTD** | **JEFFS' BRANDS LTD** |
| Per:<u> </u> | /s/ Ronen Zalayet |
|  | *Authorized signatory* |

---

## Exhibit 4.13

**Exhibit 4.13**

**Certain confidential information contained in this document, marked by brackets and asterisk, has been omitted pursuant to Item 601(b)(10)(iv) of Regulation S-K, because it (i) is not material and (ii) would be competitively harmful if publicly disclosed**

**CONSULTING AGREEMENT**

This consulting agreement (the "**Agreement**") is effective as of November 8, 2025 (the "**Effective Date**") by and between Fort Technology, Inc. (the "**Company**"), a corporation existing under the laws of British Columbia and Hike Capital Inc. (the "**Consultant**"), a corporation existing under the laws of British Columbia.

**WHEREAS:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Consultant is validly incorporated and authorized to carry out the Services (as hereinafter defined)
as contemplated in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company desires to retain the Consultant as an independent contractor to provide the Services on
a non-exclusive basis on the terms and conditions contained herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Consultant has agreed to use its commercially reasonable efforts to provide the Services on a non-exclusive
basis on the terms and conditions contained herein.

**THE PARTIES AGREE AS FOLLOWS:**

**Section 1 Definitions.**

In this Agreement the following terms have the following meanings:

"**Affiliate**" means with respect to any person or entity, any other person or entity controlling, controlled by or under common control with such person or entity. For the purposes of this definition, the term "control" means the power, whether by contract, equity ownership or otherwise, to direct the policies or management of a person or entity.

"**Agreement**" has the meaning ascribed thereto on the face page of this Agreement.

"**Applicable Laws**" includes all applicable rules, regulations and laws applicable to the provision of the Services, the Company and/or the Consultant, including, but not limited to, the Applicable Securities Legislation and the policies of the TSXV.

"**Applicable Securities Legislation**" means the securities acts in the jurisdictions in which the Company is a "reporting issuer", together with all the regulations and rules made and promulgated thereunder and all administrative policy statements, instruments, blanket orders and rulings, notices and administrative directions issued by the Commissions.

"**Associate**", in respect of a relationship with a person, means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) an Entity of which that person or their Relative beneficially owns or controls, directly or indirectly,
shares or securities convertible into shares or an exercisable option or right to purchase such shares or such convertible securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a partner of that person acting on behalf of the partnership of which they are partners;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) a trust or estate or succession in which that person or their Relative has a substantial beneficial
interest or in respect of which that person or their Relative serves as a trustee or liquidator of the succession or in a similar capacity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) a Relative of that person or;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) a Relative of the individual referred to in (d).

"**Business Day**" means any day of the year, other than a Saturday, Sunday or any day on which major Canadian chartered banks are closed for business in Vancouver, British Columbia.

"**Common Shares**" means common shares in the capital of the Company, which are listed and posted for trading through the facilities of the TSXV.

"**Company**" has the meaning ascribed thereto on the face page of this Agreement.

"**Confidential Information**" has the meaning ascribed thereto in Section 8(1) of this Agreement.

"**Consultant**" has the meaning ascribed thereto on the face page of this Agreement.

"**Consulting Fees**" has the meaning ascribed thereto in Section 3(1) of this Agreement.

"**Effective Date**" has the meaning ascribed thereto on the face page of this Agreement.

"**Entity**" includes a body corporate or unincorporate, a partnership, joint venture or a trust.

"**Expenses**" has the meaning ascribed thereto in Section 4(1) of this Agreement.

"**Indemnified Parties**" has the meaning ascribed thereto in Section 7(1) of this Agreement.

"**Intermediary**" means a third party that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is not an Affiliate or Associate of the Consultant; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is permitted under Applicable Law to receive a commission in respect of a private placement of securities.

"**Relative**", in respect of a person, means a spouse, sibling, parent or child of that person.

**"RSU"** means Restricted Stock Units

"**Securities**" has the meaning ascribed thereto in Section 5(1)(e) of this Agreement.

"**Services**" means the services described in Schedule 1 hereto.

"**Term**" has the meaning ascribed thereto in Section 11(1) of this Agreement.

"**Third Party**" means a party not related to the Consultant.

"**TSXV**" means the TSX Venture Exchange.

Capitalized terms not otherwise defined herein shall have the meaning ascribed to such terms in the TSX Venture Exchange Corporate Finance Manual.

**Section 2 Consultant's Services.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Consultant will not delegate the provision of the Services to a Third Party without the prior written
consent of the Company. The scope, frequency and manner of delivery of the Services are subject to periodic review by the parties hereto, and additions or deletions of Services may be made by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The Consulting Fee payable to the Consultant hereunder will be paid solely as consideration for providing
the Services. Without limiting the generality of the foregoing, the Consultant shall not commit or be entitled to commit the Company to
any obligation whatsoever.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The Consultant will use best efforts to make himself available and accessible to the Company in order
to ensure the performance of the services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Nothing herein will be construed to create an employer-employee relationship between the Company and
the Consultant. The Consultant is an independent contractor and not an employee of the Company or any of its subsidiaries or affiliates.
The consideration set forth in Section 3 will be the sole consideration due to the Consultant for the Services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Upon request The Consultant shall provide the Company with activity and planning reports in respect
to the Services in such form and content as the Company may reasonably require. The above-mentioned shall be given to the attention of
Gabriel Kabazo, or an approved delegate thereof. On reasonable notice, the Company may inspect the Consultant's work in progress,
or records of services, and receive copies of each.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) In rendering the Services under this Agreement, the Consultant shall conform to the highest professional
standards of work and business ethics. In performing its obligations under this Agreement, the Consultant shall comply with all laws applicable
to the Consultant, including without limitation the *Personal Information Protection and Electronic Documents Act (Canada)*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) The Consultant shall not use the service of any other person in the performance of the Services without
the prior written consent of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) Any additional services provided by the Consultant will be considered outside of this Agreement and
will be compensated at the discretion of the Company at commercially reasonable rates.

**Section 3 Consulting Fee.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Consulting Fee. In consideration of the Consultant providing the Consulting Services, the Company will
pay the Consultant CAD 5,000 per month (the "Consulting Fee").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The consulting fees shall be paid to the consultant after the Company's listing on Nasdaq.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Invoices. The Consultant will keep detailed records of the Consulting Services provided by the Consultant
and will deliver to the Company monthly invoices of the Consulting Services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Payment. The Consulting Fee and all other invoices delivered to the Company by the Consultant will be
payable by the Company to the Consultant within 15 days of the Company receiving such invoice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) 85,714 RSUs with the following vesting schedule: 42,858 RSUs vest 12 months after the grant date, 10,714
RSUs vest 15 months after the grant date, 10,714 RSUs vest 18 months after the grant date, 10,714 RSUs vest 21 months after the grant
date and the last 10,714 RSUs vest 24 months after the grant date.

**Section 4 Expenses.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The
Company shall reimburse the Consultant for all pre approved reasonable and necessary expenses incurred or paid by the Consultant in
connection with, or related to, the performance of his services under this Agreement. The Consultant shall submit to the Company itemized
monthly statements, in a form satisfactory to the Company, of such expenses incurred in the previous month. The Company shall pay to the
Consultant amounts shown on each such statement within 30 days after receipt thereof, and as long as they are pre approved by the company.
(the "Expenses").

**Section 5 Representations, Warranties and Covenants of the Consultant.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Consultant hereby agrees, represents, warrants and covenants that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Consultant is a corporation duly incorporated under the laws of Israel;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Consultant has the power, capacity and authority to enter into and perform its obligations under
this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) this Agreement has been duly authorized, executed and delivered by or on behalf of the Consultant and
constitutes a legal, valid and binding obligation of the Consultant enforceable against the Consultant in accordance with its terms, except
as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the rights of creditors
generally and except as limited by the application of equitable principles when equitable remedies are sought and except as rights to
indemnity and contribution may be limited by Applicable Laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Consultant is licensed and has all applicable registrations as required by Applicable Laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Consultant is acquiring securities of the Company in satisfaction of the Consulting Fees (the "**Securities** ")
as principal for its own account, not for the benefit of any other person, for investment purposes only;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the Consultant will not directly or indirectly, without the prior written consent of the Company make
any short sale, engage in any hedging transactions, or enter into any swap or other arrangement that transfers to another, in whole or
in part, any of the economic consequences of ownership of the Securities, whether any such transaction described in this Section
5(1)(f) is to be settled by delivery of Securities, cash or otherwise, for the duration of the term of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the Consultant shall promptly provide the Company with any information within its power or control
that it is advised by counsel is required to complete forms, filings, or submissions as required under Applicable Laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the Consultant will use commercially reasonable efforts to ensure that the Services provided under this
Agreement will not be considered Investor Relations Activities, as such term is defined under the TSX Venture Exchange Corporate Finance
Manual; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) in carrying out the Services the Consultant will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) at all times comply with Applicable Laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) act in good faith to the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) conduct itself in a professional manner;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) not act fraudulently or dishonestly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) not make any representations or disseminate any material about the Company that has not first been approved
by the Company in writing.

**Section 6 Representations, Warranties and Covenants of the Company**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Company hereby agrees, represents, warrants and covenants that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company is in good standing and a validly existing corporation under the laws of the Province of
British Columbia;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company has the power, capacity and authority to enter into and perform its obligations under this
Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) this Agreement has been duly authorized, executed and delivered by or on behalf of the Company and constitutes
a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as enforcement
thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the rights of creditors generally
and except as limited by the application of equitable principles when equitable remedies are sought and except as rights to indemnity
and contribution may be limited by applicable laws; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) all necessary corporate action has been taken by the Company to authorize the performance of its obligations
hereunder including, without limitation, the issuance of the Securities in satisfaction of the Consulting Fees as described in Schedule
2 hereto.

**Section 7 Indemnity.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Consultant agrees to indemnify, hold harmless and defend the Company, its subsidiaries, its affiliates
and each and every one of their respective directors, officers, employees, shareholders, partners and duly authorized agents (the "**Indemnified Parties**") from and against all claims, demands, losses, costs, expenses, fines, obligations, liabilities, damages, recoveries,
and deficiencies of every nature and kind, including interest, penalties, reasonable lawyers' fees and reasonable costs, that the
Indemnified Parties may incur or suffer arising out of this Agreement, by reason of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any negligent, act, omission, or willful misconduct in the performance of the Services by the Consultant,
or those for whom the Consultant is responsible at law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any breach or failure to perform any of the representations, warranties or obligations of the Consultant
contained in this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any breach or failure of the Consultant, or those for whom the Consultant is responsible at law, to
comply with any applicable law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any claim made by the Consultant or any other person, entity, government authority, agency or otherwise,
in any way, based on any alleged employment relationship between the Consultant and the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any claim made by any person alleging a violation of any third party's copyright,
trademark rights, patent rights, or other intellectual property rights in respect of or otherwise related to: (i) the performance of the
Services by the Consultant, or those for whom the Consultant is responsible at law; (ii) any Work Product (<u>as defined in Schedule 4</u>),
produced by the Consultant, or those for whom the Consultant is responsible at law; or (iii) any of the Consultant's Related Rights
(as defined below), or the use by the Company thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The Consultant hereby constitutes the Company as trustee for each of the other Indemnified Parties of
the Consultant's covenants under this indemnity with respect to those persons and the Company agrees to accept that trust and to
hold and enforce those covenants on behalf of those persons.

**Section 8 Confidentiality.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Consultant hereby agrees to the terms and conditions governing confidentiality, as further set
out in <u>Schedule 3</u> attached hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Without in any way limiting the foregoing, the terms of the Agreement, including all Schedules hereto,
are strictly confidential and shall not be disclosed by the Consultant without the prior written consent of the Company, which consent
may be unreasonably withheld.

**Section 9 Work Product.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Consultant hereby agrees to the terms and conditions governing ownership of the Work Product, as
further set out in <u>Schedule 4</u> attached hereto.

**Section 10 License to Use Related Rights.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To the extent that the Consultant has property rights which are incorporated in or necessary to the
use of the Work Product (collectively, the "**Consultant's Related Rights** "), the Consultant hereby grants to the
Company a royalty-free, irrevocable, worldwide, nonexclusive license to use and exploit for its purposes the Consultant's Related
Rights.

**Section 11 Term.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Unless otherwise terminated earlier in accordance with Section 12 of this
Agreement, the term of this Agreement (the "**Term**") shall be for a period of 24 months from the date of this Agreement.
The Term may be extended at the discretion of the Company.

**Section 12 Termination.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Each of the Company, or the Consultant may terminate this Agreement at any time for any reason by providing
the other party with thirty (30) days prior written notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Subject to and upon termination of this Agreement, however caused, and regardless of any dispute which
may exist between any of the Company, or the Consultant, the Consultant shall forthwith surrender to a representative of the Company all
deliverables, work-in-progress, and other property of the Company, including its respective affiliates and subsidiaries) that may be in
the possession or control of the Consultant at the time notice of termination is delivered, including any Confidential Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Subject to and upon termination of this Agreement, however caused, the Company shall be responsible
for paying only the Consulting Fees associated with Services provided by the Consultant under this Agreement up until the time of such
termination (being thirty (30) days following written notice of termination). In no event whatsoever shall the Consultant have any further claim or cause of action against
the Company, for any cause, matter or thing relating to an alleged employment relationship between the Consultant and the Company, including
any claim for reasonable notice of termination, pay in lieu of notice, termination, severance or vacation pay, expenses, bonus or incentive
plan payments, overtime pay, or pension entitlements whether arising pursuant to statute, contract, common law or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The Consultant hereby releases and forever discharges the Company, including their respective successors
and assigns, together with the parent, subsidiary, affiliated, or associated companies, or other past, present and future entities, directors,
officers, employees, servants and agents, jointly and severally, from any and all actions, causes of action, claims, complaints, applications
and demands whatsoever, other than any Consulting Fees owing to the Consultant under Section 3 of this Agreement,
up to and including the date of termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Notwithstanding any termination or expiration of this Agreement, Sections 4 , 7 , 8 (including Schedule 3 referenced
therein), 9 (including Schedule 4
referenced therein), 10, 12 , 13, 14 and 15 shall
survive any termination or expiration of this Agreement.

**Section 13 Taxes, Benefits and Workplace Health and Safety.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Consultant represents, warrants and covenants that the Consultant is acting and will act only as
independent contractor and not employee, and acknowledges that in so acting, Consultant will not be entitled to any employee-like benefits,
or any direct or indirect compensation other than that expressly set out in this Agreement. Without limiting the generality of the foregoing,
the Consultant acknowledges and agrees that the Company is not responsible in any way for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) payment of any taxes, levies, superannuation or workers compensation contributions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the deduction of any income tax; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the provision of annual leave, personal leave or any other type of leave consequent upon a relationship
of employment,

in relation to or arising out of the provision of the Services and payment of the Consulting Fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The Consultant will, as an independent contractor, collect and/or remit as required, all amounts, and
will register with any workers' compensation entities or other governmental bodies, and deal with all tax and other requirements, and
satisfy all applicable compliance requirements, as required or permitted under law by all municipal, provincial or federal governments.
The Consultant agrees that the Company will not be responsible for registering under any workers' compensation legislation or for withholding
or remitting any amounts for income taxes, pension plan (or similar pension/superannuation in the jurisdiction where the Consultant is
incorporated), employment insurance, or other deductions that would be required in an employment relationship. The Consultant will promptly
indemnify the Company for any liabilities that the Company incurs as a result of not making such registrations or remittances or other
relevant compliance. For clarity, the Consultant is responsible for taking out the necessary insurances regarding workers compensation.
Furthermore, the Consultant must comply with all work health and safety legislative requirements. The Consultant acknowledges that it
has control over all aspects of its activities, including work health and safety issues, relating to the performance of the Services,
wherever those Services are performed.

**Section 14 Limitation of Liability.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) No party shall be liable to the other hereunder for any indirect, consequential or special damages
whatsoever, provided however that this limitation shall not apply to any claims relating to a breach of the confidentiality provisions
of this Agreement, any claims for infringement of intellectual property rights, any obligations of indemnity, or any obligation with respect
to compliance with privacy legislation.

**Section 15 Miscellaneous.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) **No Conflict:** The Consultant represents and warrants to the Company that the Consultant is authorized
to enter into this Agreement, and the Consultant's performance of the Services shall not conflict with any other contract or obligation
to which the Consultant is bound, and that during the Term of the Agreement, the Consultant shall not engage in any employment or consulting
services or enter into any contract in conflict with this Agreement, without the prior written consent of each of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) **Currency**. All references to cash or currency herein shall be to the lawful money of Canada.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) **Time of Essence**. Time shall be of essence hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) **Insurance**. The Consultant shall carry such adequate liability and other insurance as is required
or common practice in the Consultant's trade or business. The Consultant agrees and understands that it is the sole responsibility
of the Consultant to maintain its own appropriate insurance coverage in respect of the provision of the Services and waive their right
to an insurance claim against the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) **Notice**. Any communications sent by the Company to the Consultant at: [\*\*\*],
or by the Consultant to the Company at [\*\*\*], or any other email address that may be customarily used by the parties with respect to the
Services from time to time, shall constitute valid written notice under the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) **Entire Agreement and Amendments**. This Agreement constitutes the entire agreement of the parties
with regard to the subject matter hereof, and replaces and supersedes all other agreements or understandings, whether written or oral.
No amendment or extension of the Agreement will be binding unless in writing and signed by both parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) **Binding Effect, Assignment**. This Agreement will be binding upon and will enure to the benefit
of the Consultant and the Company and to the Company's successors and assigns. Nothing in this Agreement will be construed to permit the
assignment by the Consultant of any of his rights or obligations hereunder, and such assignment is expressly prohibited without the prior
written consent of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) **Governing Law, Severability**. This Agreement will be governed by the laws of the Province of British
Columbia and the federal laws of Canada applicable therein. The parties hereby consent to and attorn to the non-exclusive jurisdiction
of the courts located in the province of British Columbia. The invalidity or unenforceability of any provision of the Agreement will not
affect the validity or enforceability of any other provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) **Compliance**. The exercise of or compliance with any discretion, right or obligation pursuant
to this Agreement is subject to compliance with all Applicable Laws, including the rules and policies of any stock exchange on which securities
of the Company may be listed and the rules of any securities regulator under which the Company and the Consultant are regulated. Notwithstanding
anything in this Agreement, the Company shall not be obligated to undertake any such action which may be illegal or not otherwise permitted pursuant to the rules and regulations of the stock exchange on which the
securities of the Company may be listed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) **Counterparts**. This Agreement may be executed in counterparts, each of which will constitute
an original and all of which taken together will constitute one and the same instrument, and delivery of the counterparts may be effected
by electronic means. The reproduction of signatures by electronic means will be treated as binding as if originals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) **Additional Services.** If the Consultant is requested to provide any other services in addition
to those described in Section 2 (including Schedule 1 referenced therein) above, the terms and conditions relating
to such additional services will be outlined in a separate letter agreement and the fees for such services will be in addition to the
fees payable hereunder, will be negotiated separately in good faith and will be consistent with fees paid to other industry participants
for substantially similar services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) **Third Party Beneficiaries.** The Services to be performed by the Consultant pursuant to this Agreement
are solely for the benefit of the Company. Except for those indemnified parties expressly entitled to indemnification pursuant to Section
7(1), there are no third party beneficiaries of this Agreement and nothing in this Agreement, express or implied, is intended to confer
any rights or remedies on any person other than the parties hereto and the indemnified parties expressly entitled to indemnification pursuant
to Section 7(1) and each of their respective successors, heirs and assigns. This Agreement shall be binding
upon the respective successors, heirs and permitted assigns of the parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) **Further Assurances**. Each of the parties hereto will execute and deliver all such further documents
and instruments and do all such acts and things as any party may reasonably require in order to carry out the full intent and meaning
of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) **Independent Legal Advice**. Each of the parties hereto acknowledges that (i) it has been advised
to obtain independent legal advice with respect to this Agreement, (ii) it has obtained independent legal advice or has expressly determined
not to seek such advice, and (iii) it is entering into this Agreement of its own free will with full knowledge of the contents of this
Agreement and its rights and obligations under this Agreement.

[*Signature page follows*]

**IN WITNESS WHEREOF**, the parties hereto have executed this Agreement as of the Effective Date.

---

| | |
|:---|:---|
| **FORT TECHNOLOGY INC.** | **FORT TECHNOLOGY INC.** |
| By: | /s/ Gabriel Kabazo |
| Gabriel Kabazo | Gabriel Kabazo |
| Chief Executive Officer | Chief Executive Officer |
| **HIKE CAPITAL INC** | **HIKE CAPITAL INC** |
| By: | /s/ Itamar David |
| Itamar David | Itamar David |

---

***Signature Page to Consulting Agreement***

**Schedule 1<br> Services**

The Consultant shall perform such financial advisory and consulting services as are customary and appropriate in engagements of this nature and as reasonably requested by the Company including the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. work with management of the Company to develop optimum financing alternatives;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. provide leadership in financing strategy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. develop M&A strategy and work with management to determine best allocation of capital resources;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. provide M&A and capital markets advisory services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. provide board composition advisory assistance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. work with management to prepare materials and a financial model;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. provide advice to the Company regarding the best positioning of the business to strategic partners,
investors and/or investment banks;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. assist the Company in preparing a due diligence package for strategic partners, investors and/or underwriters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. work with Company to manage a competitive process for selecting and engaging strategic partners and
/or underwriting syndicates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. assist the Company in negotiating terms of agreement with strategic partners, investors and/or underwriters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. attend investor meetings and/or meetings with strategic partners where appropriate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. provide feedback on potential investors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. provide other services that would be associated with this type of advisory service; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. such other services as the Company may reasonably request.

**Confidentiality**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Consultant recognizes that its position with the Company, and its respective affiliates, subsidiaries,
and related entities, (collectively, the "**Corporate Group**") requires considerable responsibility and trust and reliance
on its'/his' loyalty. Each Corporate Group entity may entrust the Consultant with highly sensitive confidential, restricted
and proprietary information involving Confidential Information (defined below). The Consultant hereby acknowledges that the Corporate
Group is entitled to protect and preserve the going concern value of the businesses of the Corporate Group to the extent permitted by
law. The Consultant also acknowledges that all Confidential Information is the property of the applicable Corporate Group entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Except: (i) to the extent the Consultant is compelled to disclose such Confidential Information pursuant
to applicable laws; or (ii) as required to perform the Services hereunder, the Consultant shall not, directly or indirectly, in any manner
whatsoever, during the Term, and at any time after the termination of the Agreement, use, disclose or discuss with any individual, firm
corporation or any other entity whatsoever, any Confidential Information concerning the undertakings, operations, strategies or activities
of the Corporate Group, that is disclosed to the Consultant in the course of providing the Services. This includes, but is not limited
to, information regarding intellectual property, financial information and business strategies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Upon the request of the Company, and, in any event, upon the termination of the Consultant's engagement
with the Company, the Consultant shall surrender to the Company all information, materials, memoranda, notes, records, manuals or other
documents pertaining the Company's business or the Consultant's engagement (including all copies, extracts and summaries thereof).
The Consultant shall also leave the Company with all materials involving or containing any Confidential Information. All such information
and materials, whether or not made or developed by the Consultant, shall be the sole and exclusive property of the Company, and the Consultant
hereby assigns to the Company all of the Consultant's right, title and interest in and to any and all such information and materials.
The Consultant covenants and agrees to destroy any such information and materials (including the Confidential Information) in its possession,
custody or control within a reasonable period of time following the termination of the Consultant's engagement with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The term "**Confidential Information**" means all information related to the Corporate
Group's services, products, technical, formulae, know-how, schematics, processes, procedures, inventions, computer programs, systems,
software, trade-secrets, ideas, designs, reports, flow-charts, research, development, purchasing, accounting, engineering, marketing,
merchandising, customer information, suppliers, training and operational material, personnel records, pricing, financial information,
policies and procedures, whether communicated orally or in documentary or other tangible form. Notwithstanding the foregoing, "**Confidential Information**" does not include any information that: (i) is part of the public domain on or prior to the disclosure to the Consultant;
(ii) becomes a part of the public domain after the disclosure to the Consultant without any breach by the Consultant of his obligations
hereunder; or was disclosed to the Consultant other than under an obligation of confidentiality, by a person that has the right to make
such disclosure that is not a party to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The Consultant acknowledges that all restrictions contained in this <u>Schedule "C"</u> are reasonable and valid. All defenses to the strict enforcement of all or any portion thereof are hereby waived by the Consultant. In
the event that any covenant or portion of any such covenant shall be unenforceable or declared invalid for any reason whatsoever, such
unenforceability or invalidity shall not affect the enforceability or validity of the remaining portions of the covenant and such unenforceability or invalidity of the remaining portions of the covenant and such unenforceable or invalid
portion shall be severed from the remainder of this Agreement. The Consultant covenants and agrees to enter into a replacement agreement
with the Company in the event any covenant or portion of any such covenant shall be unenforceable or declared invalid for any reason whatsoever.

**Schedule 3 <br> Work Product**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. "**Intellectual Property Rights**" means all right, title and interest whatsoever (including,
without limitation, copyright, trade-mark, patent and trade secret interests) in and to any and all inventions (patentable and/or non-patentable),
works of authorship, technology, trade-marks, trade secrets, know-how, algorithms, processes, information, computer software, source code,
data, creative elements, memorandums, designs, outlines and plans, notes, reports, sketches, summaries, Work Product (as defined below)
and any and all other work of the Consultant relating to: (i) the Services, (ii) any work previously, or to be performed for the Company
(including its affiliates and subsidiaries), (iii) the organization and implementation of live events, and (iv) the design and development
of social media websites, mobile applications and/or other platforms, whether complete or in progress, and that is made, conceived, reduced
to practice or developed by the Consultant, alone or in concert with others.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. "**Work Product**" means any and all notes, prototypes, confidential information, ideas,
concepts, marketing plans, designs, techniques documentation, records, media, computer programs (and all related documentation and materials),
inventions (whether or not patentable), improvements on inventions, processes or know-how generally and all other intellectual property,
authored, created, conceptualized or made by or for the Consultant, in whole or in part, during the course of performance of the Services
for either of the Company, including the Company's affiliates, subsidiaries, and related entities, (collectively, the "**Corporate Group** "). For the avoidance of any doubt, Work Product includes all material or information conceived, developed or contributed
to by the Consultant outside work hours on the Corporate Group's premises or through the use of the Corporate Group's property
or resources. The Consultant shall keep full and accurate records accessible at all times to the Corporate Group relating to all Work
Product and shall promptly disclose and deliver to the Company all Work Product upon request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. In consideration of the retention of the Consultant by the Company, the Consultant:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) hereby sells, assigns, grants and transfers to the Company, its successors, assigns,
licensees and legal representatives, all of the Consultant's world-wide rights, title and interest in perpetuity, including all
Intellectual Property Rights, in and to the Work Product and agrees to sell, assign, grant and transfer to the Company, its successors,
assigns, licensees and legal representatives all such rights in and to any future Work Product created or authored by the Consultant,
for or on behalf of the Corporate Group. The Work Product will be deemed confidential information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) further agrees to assist the Company in documenting, obtaining, evidencing, registering
and enforcing its rights hereunder. Without limiting the generality of the foregoing, the Consultant agrees to execute any and all documents,
assignments and or waivers that the Company may reasonably require or request from time to time, including without limitation, all documents,
assignments or waivers required to effect proper protection of the Work Product currently existing or to be developed in the future in
the name of the Company, or its designees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) represents and warrants to the Corporate Group that the Work Product is original
and that the Consultant owns and has the right to assign to the Company the Intellectual Property Rights in the Work Product, that no
rights in or to the Work Product have been assigned or licensed to any third party and that the assignment granted herein does not infringe
or violate any third parties' rights;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) covenants and agrees it/he shall not transfer or grant any rights or licenses
to the whole or any part of the Work Product or enter into any contract or understanding that would conflict with its/his obligations
or the Corporate Group's rights under the Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) for itself, its assigns, legal representatives and those for whom the Consultant
is responsible at law, hereby irrevocably waives in favour of the Company, its successors, assigns, licensees and legal representatives,
all of the Consultant's moral rights in the Work Product in each jurisdiction in the world including, without limitation, the moral
rights prescribed by the *Copyright Act* (Canada) as amended from time to time (or any successor legislation of similar force and
effect) or similar legislation in applicable jurisdictions or at common law, to the full extent that those rights may be in each jurisdiction.

## Exhibit 8.1

**Exhibit 8.1**

**LIST OF SUBSIDIARIES**

---

| | |
|:---|:---|
| **Company Name** | **Jurisdiction of Incorporation** |
| Fort Products Limited<sup>(1)</sup> | England and Wales |
| Fort Products LLC<sup>(2)</sup> | Delaware |

---

(1) Fort Products Limited is a wholly-owned subsidiary of Fort Technology Inc.

(2) Fort Products LLC is a wholly-owned subsidiary of Fort Products Limited.

## Exhibit 15.1

**Exhibit 15.1**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We consent to the use in this Registration Statement on Form 20-F of our report dated October 22, 2025, except for the effects of the reverse share split disclosed in Notes 1(c)(2) and 12(h), as to which the date is March 3, 2026, relating to the consolidated financial statements of Fort Technology Inc. for the year ended December 31, 2024. We also consent to the reference to us under the heading "Experts" in such Registration Statement.

**/s/ Brightman Almagor Zohar & Co.**

**Certified Public Accountants**

**A Firm in the Deloitte Global Network**

Tel Aviv, Israel

March 3, 2026

## Exhibit 16.1

**Exhibit 16.1**

---

| | |
|:---|:---|
| ![](ea027728901_ex16-1img1.jpg) | **dmcl.ca** |

---

March 3, 2026

**Securities and Exchange Commission**

100 F. Street N.E.

Washington, D.C. 20549

Dear Sirs:

We have been furnished with a copy of the response to section "Item 16.F – Change in the Registrant's Certifying Accountant" relating to the event that occurred on August 21, 2025, included in the registration statement on Form 20-F to be filed by our former client, Fort Technology Inc. We agree with the statements concerning our firm contained therein. We have no basis to agree or disagree with other statements of the registrant contained therein.

Yours truly,

---

| |
|:---|
| **/s/ DMCL LLP** |
| Chartered Professional Accountants |

---

## Exhibit 99.1

**Exhibit 99.1**

**FORT TECHNOLOGY INC.**

**3292 Production Way, Suite 501<br> Burnaby, British Columbia V5A 4R4**

March 3, 2026

**<u>VIA EDGAR</u>**

Division of Corporation Finance

U.S. Securities and Exchange Commission

100 F Street, N.E.

Washington, D.C. 20549

**Re: Fort Technology Inc. – Registration Statement on Form 20-F**

**<u>Registrant's Representation under Item 8.A.4 of Form 20-F</u> ("Item 8.A.4")**

Fort Technology Inc., a foreign private issuer incorporated in under the laws of the Province of British Columbia, Canada (the "**Company**"), is making this representation in connection with the Company's filing on the date hereof of its registration statement on Form 20-F (the "**Registration Statement**") relating to a proposed initial public offering in the United States of the Company's common shares.

The Company has included in the Registration Statement its audited financial statements as of December 31, 2024 and for the fiscal years ended December 31, 2024 and 2023, and unaudited interim financial statements as of September 30, 2025, and for each of the nine-month periods ended September 30, 2025 and 2024.

Item 8. A.4 of Form 20-F states that in the case of a company's initial public offering, the registration statement on Form 20-F must contain audited financial statements as of a date not older than 12 months from the date of the offering unless a representation is made pursuant to Instruction 2 to Item 8.A.4. The Company is making this representation pursuant to Instruction 2 to Item 8.A.4, as amended and in effect as of the date hereof, which provides that a company may instead comply with the 15-month requirement "if the company is able to represent that it is not required to comply with the 12-month requirement in any other jurisdiction outside the United States and that complying with the 12-month requirement is impracticable or involves undue hardship."

The Company hereby represents that:

&nbsp;&nbsp;&nbsp;&nbsp;1. The Company is not required by any jurisdiction outside the United States to prepare, and has not prepared,
financial statements audited under any generally accepted auditing standards for any interim period subsequent to December 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;2. Compliance with Item 8.A.4 at present is impracticable and involves undue hardship for the Company.

&nbsp;&nbsp;&nbsp;&nbsp;3. The Company does not anticipate that its audited financial statements for the fiscal year ended December
31, 2025 will be available until April 2026.

&nbsp;&nbsp;&nbsp;&nbsp;4. In no event will the Company seek effectiveness of its Registration Statement on Form 20-F if its audited
financial statements are older than 15 months at the time of the offering.

The Company is filing this representation as an exhibit to the Registration Statement on 20-F pursuant to Instruction 2 to Item 8.A.4.

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| | |
|:---|:---|
| **Fort Technology Inc.** | **Fort Technology Inc.** |
| /s/ *Gabriel Kabazo* | /s/ *Gabriel Kabazo* |
| By: | Gabriel Kabazo |
| Title: | Chief Executive Officer |

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