# EDGAR Filing Document

**Accession Number:** 0001460602
**File Stem:** 0001493152-25-013758
**Filing Date:** 2025-9
**Character Count:** 57556
**Document Hash:** a4bd68a23f8d3942186670360f80d549
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-25-013758.hdr.sgml**: 20250916

**ACCESSION NUMBER**: 0001493152-25-013758

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20250916

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250916

**DATE AS OF CHANGE**: 20250916

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Orgenesis Inc.
- **CENTRAL INDEX KEY:** 0001460602
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 980583166
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38416
- **FILM NUMBER:** 251318193

**BUSINESS ADDRESS:**
- **STREET 1:** 20271 GOLDENROD LANE
- **CITY:** GERMANTOWN
- **STATE:** MD
- **ZIP:** 20876
- **BUSINESS PHONE:** (480) 659-6404

**MAIL ADDRESS:**
- **STREET 1:** 20271 GOLDENROD LANE
- **CITY:** GERMANTOWN
- **STATE:** MD
- **ZIP:** 20876

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Orgenesis, Inc.
- **DATE OF NAME CHANGE:** 20110902

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Business Outsourcing Service, Inc.
- **DATE OF NAME CHANGE:** 20090401

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **<u>September 16, 2025</u>**

**<u>ORGENESIS INC.</u>**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Nevada** | **001-38416** | **98-0583166** |
| (State or other jurisdiction | (Commission File | (IRS Employer |
| of incorporation | Number) | Identification No.) |

---

**<u>20271 Goldenrod Lane, Germantown, MD 20876</u>**

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: **<u>(480) 659-6404</u>**

**<u>Not Applicable</u>**

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))

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

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock | ORGS | N/A |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b -2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by checkmark 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 13(a) of the Exchange Act. ☐

**Item 1.01. Entry into a Material Definitive Agreement.**

On September 10, 2025, Theracell Laboratories IKE ("Theracell"), a subsidiary of Octomera LLC, which is a subsidiary of Orgenesis Inc. (the "Company"), entered into a Convertible Loan Agreement (the "Agreement") with Alpha Prosperity Fund SPC, acting on behalf of and for the account of Segregated Portfolio P (the "Lender").

Pursuant to the Agreement, the Lender agreed to provide Theracell with an initial loan in the principal amount of $1,000,000 (the "Loan"). The Loan will bear simple interest at a rate of 10% per annum and has a maturity of 36 months. For the first 30 days following the effective date, the Borrower may prepay the Loan without the consent of the Lender. Thereafter, repayment requires the Lender's prior approval.

Beginning after 30 days and continuing until maturity, the Lender has the option, at its sole discretion, to convert the outstanding amount into equity of either the Company or Theracell, such that the Lender would hold up to 80% of the outstanding share capital of the applicable entity. The conversion of the Loan into shares of the Company is subject to shareholder approval of the issuance of the required shares.

In addition, the Agreement provides that the Lender will be issued a warrant to purchase 15% of the fully diluted share capital of either the Company or Theracell, at the Lender's discretion, for an aggregate exercise price of $250,000 and exercisable for three years from issuance. The issuance of shares upon exercise of the warrant is likewise subject to shareholder approval of the issuance of such shares. Additional warrants would be issued in connection with each cumulative drawdown of an additional $1,000,000 under the credit facility referenced below.

The Agreement further provides Theracell with access to a credit facility of up to $10,000,000, available in tranches with the Lender's prior written approval in its sole discretion. Drawdowns under the facility are subject to the same terms as the Loan, other than the conversion feature. Theracell has drawn $7,083,857 on the facility. The previously outstanding debt facilities from Newtech Investment Holdings, LLC and Ariel Malik totaling $6,083,857 have been repaid.

The Agreement also provides that, following the lapse of 30 days from the Effective Date and subject to the receipt of all necessary corporate and legal approvals, the Lender may appoint three members to the Company's Board of Directors, which appointments will be subject to the disclosure and filing requirements of the Securities Exchange Act of 1934 and the rules of the Securities and Exchange Commission.

The Agreement includes customary covenants and security provisions, including security interests over certain assets.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Convertible Loan Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K. Appendices and certain schedules to the Agreement have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company agrees to furnish a copy of any omitted appendix or schedule to the SEC upon request.

**Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.**

The information required by this Item 2.03 is included under Item 1.01 of this Current Report on Form 8-K.

**Item 9.01. Financial Statements and Exhibits.**

**(d) Exhibits**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 10-1 | [Convertible Loan Agreement, dated September 10, 2025, by and among Theracell Laboratories IKE, Orgenesis Inc., and Alpha Prosperity Fund SPC (certain appendices, exhibits and schedules omitted).](ex10-1.htm) |
| 104 | Cover Page Interactive Data File (embedded with the Inline XBRL document). |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **ORGENESIS INC.** | **ORGENESIS INC.** |
| Date: September 16, 2025 | By: | */s/ Vered Caplan* |
|  |  | Vered Caplan |
|  |  | Chief Executive Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

**CONVERTIBLE LOAN AGREEMENT**

This Convertible Loan Agreement (this "**Agreement**") is made as of the 10<sup>th</sup> day of September, 2025 ("**Effective Date**"), by and among (1) Alpha Prosperity Fund SPC, a segregated portfolio company with limited liability incorporated under the laws of the Cayman Islands with registration number 366490 (the "**SPC**"), acting on behalf of and for the account of Segregated Portfolio P (the "**Segregated Portfolio**"), one of its segregated portfolios (the SPC acting on behalf of and for the account of the Segregated Portfolio, the "**Lender**") and (2) **Theracell Laboratories IKE** a corporation organized under the laws of Greece and having an address at 1 Apollonos St. Parodos, Industrial Zone 19400 Koropi Greece ("**Borrower**" or "**Theracell Laboratories IKE**" and together with the Lender, each a "**Party**" and together the "**Parties**").

**WHEREAS**, the Lender desires to lend to the Borrower, and the Borrower desires to receive from the Lender, an aggregate amount of US$1,000,000 (the "**Loan Amount**") pursuant to the terms set forth herein and, simultaneously with the execution of this Agreement; and extend a credit facility to the Lender in the total aggregate amount of up to US$10,000,000 (the "**Facility Amount**").

**AND WHEREAS**, the Borrower and its parent company, Orgenesis Inc. (the "**Parent Company**"), following due consideration and advice received from independent legal and economic experts in relation to the legal and economic justifications for the Transaction (as defined below), including for the removal of doubt, the warrant under Section ‎4, require the Loan Amount for its ongoing business operations and requested that the Loan Amount be extended as soon as possible, as the Borrower needs it urgently to survive, and consequently, the Lender was only able to carry out very limited due diligence;

**AND WHEREAS**, the Borrower is entering into the Transaction after due consideration and having received advice from independent legal and economic experts, who have confirmed the legal and economic justifications for the Transaction, including its fairness.

**NOW, THEREFORE**, in consideration of the premises and the mutual covenants herein contained, and other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:

1. <u>Loan; Credit Facility; Conditions Precedent.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Terms of Loan.</u> The Lender agrees to lend to the Borrower, and the Borrower agrees to borrow
 from the Lender, the Loan Amount. The Loan Amount shall bear a simple interest rate of ten
 percent (10%) per year; provided, that if an Event of Default has occurred and is continuing,
 the Outstanding Amount shall bear interest at the Default Rate. The Loan Amount, ,together
 with all accrued but unpaid interest thereon (collectively, the "**Outstanding Amount** "),
 at the sole discretion of the Lender shall either (i) be repaid in cash or (ii) be converted
 into shares of common stock, par value $0.0001 per share, of either: (i) the Borrower; or
 (ii) the Parent Company (each, as applicable, "**Common Stock**") at the sole
 and absolute option and discretion of the Lender, at any time following the lapse of 30 days
 from the Effective Date and for a period that shall lapse upon 36 months following such date
 (the "**Maturity Date** "), such that following such conversion, the Lender
 shall hold 80% of the Borrower's or the Parent Company's share capital,. Upon
 the Maturity Date, if the Lender has not exercised its right to convert the Outstanding Amount
 at or prior to such date, the Borrower shall immediately pay the Lender the Outstanding Amount
 as of such date. Prior to the lapse of 30 days the Outstanding Amount may be prepaid by the
 Borrower in whole or in part at any time without the prior written approval of the Lender.
 Following the lapse of 30 days from the Effective Date, the Outstanding Amount may be prepaid
 by the Borrower in whole or in part at any time with the prior written approval of the Lender,
 who may withhold such approval for any reason.

The lender is aware that for such a conversion to occur, including conversion of warrants, into the share capital of Parent Company a shareholder meeting of the Parent Company must be held to issue the entire required amount of stock and the loans to NewTech Investment Holdings, LLC and Ariel Malik must be paid off.

The Parent Company undertakes to hold a shareholder meeting not later than 60 days after the Effective Date for the purpose of approving and authorizing the issuance of the required shares to the Lender (assuming the conversion of the Outstanding Amount into shares pursuant to Section ‎3.a above, and as determined by the Lender). In the event that such shareholder meeting is not held or the conversion of the shares as stipulated under this Agreement is not approved, the Parent Company hereby grants the Lender with the option to acquire, the entire share capital, at the Lenders sole discretion, all of the business and assets of Cellvira and Tissue Genesis (as such are defined below). Orgenesis Inc's fully owned subsidiaries, such transfers to be made at no further cost to the Lender. Parent Company hereby covenants and agrees to obtain in the next 60 days at its sole cost and expense, all necessary consents, authorizations, and approvals (including, without limitation, any required third-party consents) in connection with such transfer. Parent Company shall further ensure that such transfer to the Lender is duly effected.

"**CellVira**" shall mean CellVira LLC, Maryland, the post office address of the principal office of CellVira in Maryland is 20271 Goldenrod Lane, Germantown, MD 20776, the name and address of the resident agent of CellVira in this State is Cogency Global Inc., 1519 York Road, Lutherville, Maryland 21093. Such resident agent is a Maryland corporation.

"**Tissue Genesis**" shall mean Tissue Genesis International LLC, Texas, registered agent and registered office: 1601 Elm Street, STE 4360, Dallas, TXm 75201.

&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Terms of Credit Facility.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Without
 derogating from the extension of the Loan Amount to the Borrower by the Lender, the Lender
 shall provide the Borrower with a credit facility in an amount of up to the Facility Amount,
 subject to the Lender's prior written approval (in its sole an absolute discretion)
 of any and each use of all or a portion of the Facility Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Any
 amounts drawn from the Facility Amount shall be subject to the same terms of repayment, interest,
 and other conditions as set forth for the Loan Amount, *mutatis mutandis*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Upon
 each cumulative drawdown of an additional US$1,000,000 from the Facility Amount, the Borrower
 shall be deemed to have automatically issued to the Lender, without the requirement for any
 further action, consent, or approval, an additional warrant on terms and conditions identical
 to those of the Warrant set forth in Section ‎0 (and without derogation therefrom).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. The
 Lender shall have the sole and absolute discretion to utilize any portion of the Facility
 Amount for the purpose of acquiring shares pursuant to the Warrant or any other warrant issued
 pursuant to this Agreement. For the avoidance of doubt, the provisions of this section shall
 not derogate from any other right of conversion to which the Lender is entitled under this
 Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;c. <u>Conditions Precedent.</u> The obligations of the Lender to fund the Loan Amount and the Facility Amount
 shall not become effective until the date on which each of the following conditions is satisfied
 (or waived by the Lender), and the Parties agree that each of the following conditions precedent
 ()"**Conditions Precedent**") have been satisfied or waived:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. The
 Lender shall have received the following documents in a form reasonably acceptable to the
 Lender: (i) resolution of the board of directors of the Parent Company and the Borrower authorizing
 the Borrower to execute and deliver this Agreement, and any additional agreement or instrument
 contemplated thereby (the "**Transaction Documents**") and providing the Lender
 with the option to appoint three (3) members that are acceptable by to the Board following
 the lapse of 30 days from the Effective Date, subject to receipt of all necessary corporate
 and legal approvals, (ii) a resolution of the Board approving the individuals who are authorized
 to sign the Transaction Documents, (iii) the articles of incorporation and by laws of the
 Borrower., in each case, certified as being true and complete;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. The
 Lender shall provide in the next 90 days (i) a copy of a certificate of the Nevada Secretary
 of State with respect to the existence and good standing of Borrower, and (ii) copies of
 certificates of the Texas Secretary of State and Maryland Secretary of State and any of the
 applicable authority of any state in which the Borrower has an operating subsidiary confirming
 the existence, qualification (as applicable) and good standing of each such operating subsidiary
 in the respective state.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Each
 Party shall have received from each party counterparts of the Transaction Documents duly
 signed on behalf of each party.

2. <u>Closing.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;a. The
 closing of the Transactions contemplated by this Agreement shall take place following the
 satisfaction or waiver of the Conditions Precedent set forth in Section ‎1.b above on
 or after the Effective Date, or such other date, time and place as the Lender and the Borrower
 shall agree upon in writing (the "**Closing** "). At the Closing, the Lender
 shall establish a designated account in the name of the Lender and will transfer the Loan
 Amount into such designated account (the "**Designated Account** ").

&nbsp;&nbsp;&nbsp;&nbsp;b. The
 Borrower shall be entitled to make drawdowns of any portion of the Loan Amount from the funds
 deposited in the Designated Account solely in accordance with the Use of Proceeds and subject
 to the prior written approval of the Lender.

&nbsp;&nbsp;&nbsp;&nbsp;c. The
 Borrower shall deliver a written notice stipulating a drawdown request from the Loan Amount
 and shall clearly detail the appropriate use of funds in accordance with the Use of Proceeds.

&nbsp;&nbsp;&nbsp;&nbsp;d. The
 Lender shall maintain accurate records of all disbursements from the Designated Account and
 shall, upon the Borrower's request, provide the Borrower with account statements and
 supporting documentation evidencing the balance of the Designated Account.

3. <u>Conversion or Repayment of the Outstanding Amount.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;a. At
 the option of the Lender, at its sole and absolute discretion, at the Maturity Date or at
 any time and from time to time thereafter, the Outstanding Amount shall either be: (a) payable
 in cash; or (b) convertible, in whole or in part, into the number of shares of Common Stock
 equal to the quotient obtained by dividing (x) the Outstanding Amount by (y) the Conversion
 Price. The "**Conversion Price**" shall mean the price per share at which,
 upon conversion of the Outstanding Amount into Common Stock, the Lender shall be entitled
 to receive such number of shares of Common Stock as will result in the Lender, together with
 the Lender's existing holdings, holding 80% of the Borrower's or Parent Company's
 share capital, in accordance with the Lender's option. The Lender may affect the conversion
 by delivering to the Borrower a written notice (the "**Notice of Conversion** "),
 specifying therein the Outstanding Amount to be converted, and the date on which such conversion
 shall be effected (such date, the "**Conversion Date** "). If no Conversion
 Date is specified in a Notice of Conversion, the Conversion Date shall be the date that such
 Notice of Conversion is deemed delivered hereunder. Following the applicable Conversion Date,
 a Conversion completed pursuant to this Section ‎3.a shall have the effect of reducing
 the Outstanding Amount in an amount equal to the Outstanding Amount set forth in the corresponding
 Notice of Conversion. The Parties shall maintain records showing the total Outstanding Amount
 converted and the date of each such Conversion.

&nbsp;&nbsp;&nbsp;&nbsp;b. In
 the event the Outstanding Amount is converted pursuant to Section 2(a), the Lender shall
 surrender this Agreement to the Borrower and this Agreement shall thereupon be cancelled.
 As soon as practicable, and at its expense, the Borrower or Parent Company, as applicable,
 shall issue and deliver to the Lender a certificate or certificates representing the number
 of shares of Common Stock to which the Lender is entitled upon such conversion.

&nbsp;&nbsp;&nbsp;&nbsp;c. No
 fractional shares shall be issued upon the conversion of any portion of the Outstanding Amount.
 In the Lender's sole discretion, Borrower shall either pay to the Lender in cash the
 unconverted amount that would otherwise be converted into such fractional share or interest
 or round the shares of Common Stock being issued upon conversion up to the nearest whole
 number.

&nbsp;&nbsp;&nbsp;&nbsp;d. The
 issuance of shares of Common Stock on conversion of all or any portion of the Outstanding
 Amount shall be made without charge to the Lender for any documentary stamp or similar taxes
 that may be payable in respect of the issue or delivery of such shares upon conversion.

&nbsp;&nbsp;&nbsp;&nbsp;e. Borrower
 shall not be entitled, without the Lender's prior written approval, to subdivide (by
 any stock split, stock dividend, recapitalization or otherwise) or combine (by combination,
 reverse stock split or otherwise) one or more classes of its outstanding shares of Common
 Stock into a greater number of shares.

4. <u>Warrant to Purchase Additional Shares and Option to Purchase Assets.</u> 

<u>Grant of Warrant.</u> The Lender shall be granted a warrant to purchase, at the Lender's sole option, 15% of the fully diluted share capital of the Borrower or Parent Company (calculated as of the date of grant), at the Lender's option at its sole and absolute discretion, for an aggregate purchase price of US$250,000 and for a period of three (3) years from the date of grant (the "**Warrant**").

5. <u>Use of Proceeds.</u> 

The Loan Amount or any part thereof shall be used by the Borrower as approved by the Lender in advance in writing (and as may be amended from time to time with the Lender's consent, who may withhold it for any reason) (the "**Use of Proceeds**").

6. <u>Covenants.</u> 

Until the Outstanding Amount has been paid in full (or converted in accordance with Section ‎3), Borrower covenants and agrees with the Lender that:

&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Shares Available.</u> Subject to the approval of the shareholders of the Parent Company, the Parent
 Company and the Borrower shall at all times reserve and keep available out of its authorized
 and unissued shares of Common Stock, such number of shares of Common Stock as may at any
 time be required for issuance upon conversion of all or any portion of the Outstanding Amount,
 in each case, free from preemptive rights or any other actual contingent purchase rights
 of persons other than the Lender (the "**Conversion Shares** "). The Borrower
 covenants that all shares of Common Stock that shall be so issuable shall, upon issuance,
 be duly authorized, validly issued, fully paid and non-assessable. To the extent permitted
 under applicable law, Borrower shall instruct the transfer agent to place the Conversion
 Shares on reserve for eventual conversion of this note (the "**Reserved Shares** ")
 and provide authorization to the transfer agent to accept instruction from the Lender, its
 trustee or its counsel to issue the Reserved Shares, or any part of the Reserved Shares,
 in connection with the conversion of this note.

&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Merger, Consolidation and Related Events; additional investments.</u> Borrower shall not, without
 the Lender's prior written approval (i) become a party to a merger or consolidation
 or any investment, fund raising, or any other incurring of debt (whether in any third party
 or in the Borrower), or purchase or otherwise acquire all or a substantial part of the assets
 of any Person or any shares or other evidence of beneficial ownership of any Person, (ii)
 dissolve or liquidate, (iii) sell, lease, assign, transfer or otherwise dispose of substantially
 any of its assets, except dispositions of inventory in the ordinary course of business, or
 (iv) enter into any agreement to do any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;c. <u>Corporate Existence; Conduct of Business.</u> Borrower will preserve and maintain its corporate existence
 and all of its leases, privileges, licenses, permits, franchises, qualifications and rights
 that are necessary or desirable in the ordinary conduct of its business. Except as contemplated
 in transactions with the Lender and its affiliates, Borrower will continue to conduct its
 primary businesses as conducted as of the date of this Agreement and to continue its operations
 in such businesses.

&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Compliance with Laws.</u> Borrower will comply in all material respects with all applicable laws (including
 all environmental laws), rules, regulations and orders of any the government of the United
 States of America, any other nation or any political subdivision thereof, whether state,
 local or tribal, and any agency, authority, instrumentality, regulatory body, court, central
 bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative
 powers or functions of or pertaining to government ()"**Governmental Authority** "),
 or arbitrator, and all agreements, contracts and instruments binding on it or affecting its
 properties or business.

&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Maintenance of Assets and Properties</u>. Borrower will maintain its material assets and properties (including
 material intellectual property) in good condition and repair.

&nbsp;&nbsp;&nbsp;&nbsp;f. <u>Payment; Discharge; Liens.</u> Borrower will pay or discharge at or before maturity or before becoming
 delinquent (a) all material taxes, levies, assessments and governmental charges imposed on
 it or its income or profits or any of its property and (b) all lawful claims for labor, material
 and supplies, which, if unpaid, might become a Lien upon any of its property; provided, however,
 that Borrower shall not be required to pay or discharge any claim, tax, levy, assessment
 or governmental charge (a "**Tax or Claim Charge** "), which is being contested
 in good faith by appropriate proceedings diligently pursued, if (i) no asset or any portion
 thereof or interest therein would be in any danger of sale, forfeiture or loss by reason
 of the contest for such Tax or Claim Charge, and

&nbsp;&nbsp;&nbsp;&nbsp;g. <u>Debt; Additional Loans.</u> Borrower will not incur, create, assume or suffer to exist any new
 obligations for borrowed money except: (i) the obligations arising under this Agreement,
 (ii) accounts payable and other accrued expenses, liabilities or other obligation to pay
 from time to time incurred in the ordinary course of business with respect to which no more
 than ninety (90) days have elapsed since the date of invoice or that are being contested
 in good faith by appropriate action and for which adequate reserves have been maintained
 in accordance with generally accepted accounting principles in the United States of America,
 and (iii) any indebtedness of Borrower consisting of the financing of insurance premiums
 incurred in the ordinary course of business.

&nbsp;&nbsp;&nbsp;&nbsp;h. <u>Registration of Common Stock.</u> Lender acknowledges that the Common Stock will be issued by the Borrower
 pursuant to an exemption from registration or qualification under the Securities Act of 1933
 (the "**Securities Act**") and applicable state securities laws. Such shares
 will be issued with a restrictive legend in substantially the following form: THIS SECURITY
 HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION
 OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF
 1933, AS AMENDED (THE "**SECURITIES ACT** "), AND, ACCORDINGLY, MAY NOT BE
 OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
 ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
 REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

7. <u>Security Interest.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Floating Charge Over All Assets.</u> As continuing security for the due and punctual payment and performance
 of all obligations of the Borrower under this Agreement and any related documents, the Borrower
 hereby grants to the Lender a first-ranking floating charge over all of its assets, property,
 and undertaking, both present and future, of any kind and wherever located, including but
 not limited to all accounts, receivables, inventory, equipment, machinery, intellectual property,
 goodwill, contracts, rights, and the proceeds of any of the foregoing (the "**Charged Assets** ").

&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Fixed Charge Over Shares of Subsidiaries.</u> As further security, the Borrower hereby grants to
 the Lender a first-ranking fixed charge over all of the shares and other equity interests
 now or hereafter owned by the Borrower in any of its subsidiaries, together with all related
 rights, dividends, and distributions (the "**Subsidiary Shares** ").

&nbsp;&nbsp;&nbsp;&nbsp;c. <u>Fixed Charge Over Existing Intellectual Property.</u> The Borrower further grants to the Lender
 a first-ranking fixed charge over all intellectual property rights now owned by the Borrower
 in relation to the assets listed in  **<u>Exhibit A</u>** , including but not limited to
 all patents, trademarks, service marks, copyrights, domain names, trade secrets, know-how,
 and all registrations and applications for registration thereof, whether registered or unregistered,
 and all rights and interests relating thereto (the "**IP Rights**" and together
 with the Charged Assets and the Subsidiary Shares, the "**Security Interest** ").

&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Perfection and Further Assurances.</u> The Borrower undertakes to execute and deliver such further documents
 and do such acts as the Lender may reasonably require to perfect and maintain the security
 interests created hereunder, including the registration of any charges or security interests
 with any applicable registry or authority. The Borrower authorizes the Lender to file such
 financing statements, notices, or other documents as may be necessary or desirable to perfect
 and maintain the security interests granted hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Negative Pledge.</u> The Borrower shall not, without the prior written consent of the Lender, create
 or permit to exist any security interest, lien, or encumbrance over any of the Security Interest,
 except as expressly permitted by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;f. <u>Enforcement.</u> Upon the occurrence and during the continuance of any Event of Default, the Lender shall
 have all rights and remedies of a secured party under applicable law, including the right
 to appoint a receiver, take possession of, and/or sell or otherwise realize upon the Security
 Interest, at its sole and absolute discretion. For the removal of doubt, the enforcement
 by the Lender of its rights and remedies with respect to the Security Interest, shall not
 limit, prejudice, or otherwise affect any other rights, remedies, or claims that the Lender
 may have under this Agreement, at law, or in equity. All such rights and remedies shall be
 cumulative and may be exercised concurrently or separately.

8. <u>Events of Default.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;a. The
 following shall constitute events of default (each an "**Event of Default** "):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Any
 representation or warranty made or deemed made by Borrower or any of its respective officers
 in any certificate or notice furnished at any time in connection with this Agreement or any
 other Transaction Document shall be false, misleading or erroneous in any material respect
 when made or deemed to have been made;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Borrower
 shall fail to perform, observe or comply with the observance or performance of any non-monetary
 covenant or agreement contained herein and the Borrower fails to cure such default within
 seven (7) days after written notice of default is sent to the Borrower (or within such other
 longer time period as may be therein specifically provided);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Borrower
 shall fail to perform, observe or comply with the obligations, terms, covenants or conditions
 contained in this Agreement or any other Transaction Document and such failure is not cured
 within three (3) days from the earliest to occur of the date the Lender delivers notice of
 such failure to Borrower or Borrower's knowledge of such failure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. Borrower
 shall (1) commence a voluntary proceeding seeking liquidation, reorganization, or other relief
 with respect to its debts under any present or future federal, state or other statute, law
 or regulation relating to bankruptcy, insolvency or other relief for debtors seeking the
 appointment of a trustee, receiver, liquidator, custodian, or other similar official of it
 or of all or any part of the assets of Borrower or its subsidiaries, or of any or all of
 the royalties, revenues, rents, issues or profits thereof, (2) consent to any such relief
 or to the appointment of or taking possession by any such official in an involuntary case
 or other proceeding commenced against it, (3) make a general assignment for the benefit of
 creditors or shall generally fail to pay its debts as they become due or (4) take any corporate
 action to authorize any of the foregoing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. an
 involuntary proceeding shall be commenced against Borrower seeking any liquidation, reorganization,
 dissolution or similar relief under any present or future federal, state or other statute,
 law or regulation relating to bankruptcy, insolvency or other relief for debtors, and such
 petition shall remain undismissed and unstayed for a period of sixty (60) days (whether or
 not consecutive) from the first date of entry thereof or rejected by such court; or any trustee,
 receiver or liquidator of Borrower or of all or any part of the assets of Borrower or its
 subsidiaries, or of any or all of the royalties, revenues, rents, issues or profits thereof,
 shall be appointed without the consent or acquiescence of Borrower and such appointment shall
 remain undismissed and unstayed for an aggregate of sixty (60) days (whether or not consecutive);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vi. a
 writ of execution or attachment or any similar process shall be issued or levied against
 all or any part of or interest in the assets of Borrower or its subsidiaries, or any judgment
 involving monetary damages shall be entered against Borrower which shall become a Lien on
 the assets of Borrower or its subsidiaries or any portion thereof or interest therein and
 such execution, attachment or similar process or judgment is not released, bonded, satisfied,
 vacated or stayed within sixty (60) days after its entry or levy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vii. the
 Borrower ceases or threatens to cease to carry on its business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;viii. this
 Agreement or any other Transaction Document shall for any reason not be, or cease to be,
 in full force and effect or shall be declared null and void or the validity or enforceability
 thereof shall be contested or challenged by Borrower, or Borrower shall deny that it has
 any further liability or obligation hereunder prior to payment in full of all obligations
 hereunder; or

&nbsp;&nbsp;&nbsp;&nbsp;b. If
 an Event of Default occurs and is ongoing, the interest on the Outstanding Amount shall increase
 to a compounded rate of thirty percent (30.0%) per year (the "**Default Rate** ").

&nbsp;&nbsp;&nbsp;&nbsp;c. If,
 at any time, an Event of Default shall occur, all obligations under this Agreement shall
 become immediately due and payable without presentment, demand or protest, all of which are
 hereby waived by the Borrower.

9. <u>Representations and Warranties of Borrower.</u> 

To induce the Lender to enter into this Agreement and to fund the Loan Amount and the Facility Amount, Borrower hereby represents and warrants to the Lender as follows:

&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Organization; Powers.</u> Borrower is duly formed, validly existing. Borrower has the full power and authority
 to own its assets and to carry on its business as now conducted, and is qualified to do business
 in, and is in good standing in, every jurisdiction where such qualification is required,
 except where failure to have such power, authority and qualifications could not reasonably
 be expected to have a Material Adverse Effect.

For purposes of this Agreement, a "**Material Adverse Effect**" means a material adverse change in, or material adverse effect on, (i) the business, operations, property, liabilities (actual or contingent) or condition (financial or otherwise) of Borrower, (ii) the ability of Borrower to perform any of its obligations under any Transaction Document to which it is a party, (iii) the validity or enforceability of any Transaction Document or (d) the rights and remedies of or benefits available to the Lender under any Transaction Document.

&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Authority; Enforceability.</u> Borrower has the power and authority to consummate the transactions contemplated
 in this Agreement and in each other Transaction Document (the "**Transactions** ").
 When executed and delivered, each Transaction Document will have been duly executed and delivered
 by Borrower and will constitute a legal, valid and binding obligation of Borrower, enforceable
 in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization,
 moratorium or other laws affecting creditors' rights generally and subject to general
 principles of equity, regardless of whether considered in a proceeding in equity or at law.
 The Borrower entered the Transaction after due consideration and having received advice from
 independent legal and economic experts, who have confirmed the legal and economic justifications
 for the Transaction, including its fairness;

&nbsp;&nbsp;&nbsp;&nbsp;c. <u>Approvals; No Conflicts.</u> The consummation of the Transactions (1) do not require any consent, license,
 or approval of, registration or filing with, or any other action by, any Governmental Authority
 or any other third Person, except such as have been obtained or made and are in full force
 and effect, (2) will not violate the provisions of any applicable law, (3) will not violate
 or result in a default under any agreement or instrument to which the Borrower is a party
 or under which any properties or assets of Borrower or its subsidiaries are bound, and (4)
 will not result in the creation or imposition of any Lien on any property or asset of Borrower
 or its subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Litigation.</u> Except as provided in  **<u>Exhibit B</u>** , there are no actions, suits, investigations
 or proceedings by or before any arbitrator or Governmental Authority pending against or,
 to the knowledge of Borrower, threatened against or affecting Borrower or any of its subsidiaries
 that (a) could reasonably be expected to be adversely determined and, if so determined, could
 reasonably be expected individually or in the aggregate, to result in a Material Adverse
 Effect, or (b) involve any Transaction Document or the Transactions.

&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Investment Company Act.</u> Neither Borrower nor any of its subsidiaries is an "investment company"
 or a company "controlled" by an "investment company," within the
 meaning of, or subject to regulation under, the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;f. <u>Ownership of Assets; No Liens.</u> Borrower is the sole legal and beneficial owner of all of its assets,
 including any and all of the Security Interest, free and clear of any liens, claims, or encumbrances,
 except for the security interests created under this Agreement or as set forth in the disclosure
 schedules delivered to the Lender.

&nbsp;&nbsp;&nbsp;&nbsp;g. <u>Financial Statements.</u> All financial statements and other information furnished by Borrower to the
 Lender are true, correct, and complete in all material respects and have been prepared in
 accordance with generally accepted accounting principles, consistently applied.

&nbsp;&nbsp;&nbsp;&nbsp;h. <u>Intellectual Property.</u> Borrower possesses all trademarks, trade names, copyrights, patents, patent
 rights, licenses and other intellectual property rights necessary to conduct its business
 as now operated, without any known conflict with the rights of any other person or entity.

&nbsp;&nbsp;&nbsp;&nbsp;i. <u>No Default.</u> No event has occurred and is continuing, or would result from the making of
 the loan contemplated hereunder or the application of the proceeds thereof, that constitutes
 an Event of Default or would constitute an event of default under any other agreement to
 which Borrower is a party.

&nbsp;&nbsp;&nbsp;&nbsp;j. <u>Compliance with Laws.</u> Borrower (and all of Borrower's subsidiaries) is, and has been at all
 times, in compliance in all material respects with all applicable laws, regulations, rules,
 and orders of any governmental authority, including, without limitation, anti-money laundering,
 anti-bribery, and anti-corruption laws and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;k. <u>Full Disclosure.</u> Borrower has disclosed to the Lender all information relating to the Borrower,
 its business, assets, liabilities, operations, condition (financial or otherwise), and prospects
 that a reasonable lender would consider material to its decision to enter into this Agreement.
 No information provided or furnished by Borrower to the Lender in connection with this Agreement
 is untrue, inaccurate, or misleading in any material respect, or omits to state a material
 fact necessary to make the statements herein or therein not misleading. There is no fact
 or circumstance relating to the Borrower or its business which has not been disclosed to
 the Lender and which would reasonably be expected to prevent a reasonable lender from entering
 into this Agreement or making the loan contemplated hereby.

10. <u>Representations and Warranties of Lender.</u> 

Lender hereby represents and warrants to Borrower as follows:

&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Due Execution.</u> When executed and delivered, each Transaction Document will have been duly
 executed and delivered by the Lender and will constitute a legal, valid and binding obligation
 of the Lender, enforceable in accordance with its terms, subject to applicable bankruptcy,
 insolvency, reorganization, moratorium or other laws affecting creditors' rights generally
 and subject to general principles of equity, regardless of whether considered in a proceeding
 in equity or at law.

11. <u>Waiver; Non-Negotiable.</u> 

Borrower, for itself and each of its legal representatives, hereby waives presentment for payment, demand, right of setoff, notice of nonpayment, notice of dishonor, protest of any dishonor, notice of protest and protest of this Agreement, and all other notices in connection with the delivery, acceptance, performance, default or enforcement of the obligations under this Agreement. This Agreement is non-negotiable.

12. <u>Further Assurances.</u> 

The Parties shall perform such further acts and execute such further documents as may reasonably be necessary to carry out and give full effect to the provisions of this Agreement.

13. <u>Indemnification.</u> Borrower hereby agrees to indemnify, defend and hold Lender and its affiliates, subsidiaries,
 agents, directors, officers, participants, employees, agents and their successors and assigns
 (collectively "**Indemnified Parties**") harmless against any and all liabilities
 of any kind, nature or description and damages whether they are direct, indirect or consequential,
 including attorney's fees and other professionals and experts incurred or suffered
 directly or indirectly by Indemnified Parties or asserted against Indemnified Parties by
 anyone whosoever, including Borrower, which arise out of the Transaction Documents or the
 relationship and transaction between the Parties. This provision shall survive the termination
 of this Agreement.

14. <u>Expenses.</u> The Borrower agrees that the Lender's expenses in connection with the negotiation,
 execution, delivery, and enforcement of this Agreement and the Transaction Documents, and
 any related transactions, are in the amount of US$250,000 (the "**Expenses Amount** ").
 The Expenses Amount shall be borne solely by the Borrower and shall be payable to the Lender
 upon demand. The Expenses Amount may be used, in whole or in part, as payment for the purchase
 of any shares due on exercise of any warrant granted under this Agreement, at the Lender's
 sole discretion.

15. <u>Limited Recourse.</u> Notwithstanding any other term of this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;a. the
 Borrower acknowledges that the SPC is a segregated portfolio company and that under the Companies
 Act (as amended) of the Cayman Islands (the "**Companies Act**") (i) a segregated
 portfolio company is a separate legal entity and any segregated portfolio of or within a
 segregated portfolio company does not constitute a legal entity separate from the SPC; (ii)
 the assets of a segregated portfolio of a segregated portfolio company shall only be available
 and used to meet liabilities to the creditors of the segregated portfolio company and holders
 of segregated portfolio shares who are creditors or holders of segregated portfolio shares
 in respect of that segregated portfolio and who shall thereby be entitled to have recourse
 to the segregated portfolio assets attributable to that segregated portfolio for such purposes;
 and (iii) the assets of a segregated portfolio of a segregated portfolio company shall not
 be available or used to meet liabilities to, and shall be absolutely protected from, the
 creditors of the segregated portfolio company and holders of segregated portfolio shares
 who are not creditors or holders of segregated portfolio shares in respect of that segregated
 portfolio, and who accordingly shall not be entitled to have recourse to the segregated portfolio
 assets attributable to that segregated portfolio;

&nbsp;&nbsp;&nbsp;&nbsp;b. the
 Borrower acknowledges and agrees that (i) the Borrower shall have no recourse against the
 segregated portfolio assets attributable to the Segregated Portfolio unless such claim arises
 solely out of the actions taken by the SPC on behalf of and for the account of the Segregated
 Portfolio; (ii) the Lender's liability under or in relation to this Agreement, whether
 from any breach of its obligations under this Agreement or otherwise, and the Borrower's
 recourse under or in relation to this Agreement in respect of any obligation or liability
 of the Lender, is limited solely to the assets of the Segregated Portfolio for the time being;
 (iii) the Borrower shall have no recourse in respect of any obligation or liability of the
 Lender to either the assets of any other segregated portfolio of the SPC or to the general
 assets of the SPC; and (iv) any claim of the Borrower shall be fully satisfied and extinguished
 by payment of such amounts as are available to be paid from the segregated portfolio assets
 from time to time attributable to the Segregated Portfolio and any such claim remaining unsatisfied
 after the realisation of the assets of the Segregated Portfolio and the application of the
 proceeds thereof shall be extinguished and thereafter the Borrower shall have no further
 claim against the SPC;

&nbsp;&nbsp;&nbsp;&nbsp;c. the
 rights, liabilities and obligations of the Lender (in whatever capacity) under or in relation
 to this Agreement are deemed to be the rights, liabilities and obligations of the Segregated
 Portfolio and not rights, liabilities and obligations of the SPC acting in its own name or
 on its own account or in the name of or for the account of any other segregated portfolio
 of the SPC;

&nbsp;&nbsp;&nbsp;&nbsp;d. all
 references in this Agreement to any property, undertaking or assets of the Lender (in whatever
 capacity) are to property, undertaking and assets of the SPC held in the name of or for the
 account of or otherwise segregated to the Segregated Portfolio only and not to the property,
 undertaking and assets of the SPC acting in its own name or held on its own account or on
 behalf or in the name of or for the account of or otherwise segregated to any other segregated
 portfolio of the SPC;

&nbsp;&nbsp;&nbsp;&nbsp;e. the
 Borrower agrees that it will not, in respect of any claim which it may have against the Lender
 arising under or in relation to this Agreement (whether arising from any breach of its obligations
 under this Agreement or otherwise), petition for, institute, or join with any other person
 in instituting proceedings for (i) a winding up order against the SPC pursuant to section
 92(d) of the Companies Act; or (ii) the appointment of a liquidator, receiver, restructuring
 officer, examiner or for comparable relief against the SPC or any other segregated portfolio
 of the SPC; and

&nbsp;&nbsp;&nbsp;&nbsp;f. to
 observe and give effect to the provisions of the laws of the Cayman Islands which provide
 for the segregation of assets and liabilities between the segregated portfolios of the SPC,
 the Borrower agrees that it will not, in respect of any claim which it may have arising under
 or in relation to this Agreement against the Lender (whether from any breach of its obligations
 under this Agreement or otherwise), seek to make recovery from or otherwise have recourse
 to the assets held on behalf of or for the account of or otherwise segregated to any segregated
 portfolio of the SPC other than the Segregated Portfolio in respect of the Lender even if
 such would otherwise be permissible under the laws of the State of Israel or any other jurisdiction
 where relevant assets are located or such claim arises.

16. <u>Miscellaneous.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Entire Agreement; Amendments.</u> This Agreement and each of the Transaction Documents constitutes
 the entire understanding of the Parties hereto with respect to the subject matter hereof
 and supersedes all prior written and oral understandings of such parties with regard thereto.
 This Agreement may be modified, amended, or any term hereof waived with the written consent
 of the Borrower and the Lender. Any amendment effected in accordance with this Section ‎16.a
 shall be binding upon all Parties and their respective successors and assignees.

&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Governing Law; Jurisdiction.</u> This Agreement shall be governed by and construed according to the
 laws of the State of Israel without regard to the conflict of laws provisions thereof. Any
 dispute arising under or in relation to this Agreement shall be resolved in the competent
 courts of Tel Aviv-Jaffa, Israel, and each of the Parties hereby submits irrevocably to the
 jurisdiction of such courts. Each Party hereby irrevocably waives any objection, including,
 without limitation, any objection to the laying of venue or based on the grounds of forum
 non conveniens, which it may now or hereafter have to the bringing of any such action or
 proceeding in such respective jurisdictions.

&nbsp;&nbsp;&nbsp;&nbsp;c. <u>Waiver of Jury Trial.</u> Each Party hereby irrevocably and unconditionally waives, to the fullest
 extent permitted by law, trial by jury in any legal action or proceeding relating to this
 Agreement or any other Transaction Document and for any counterclaim therein.

&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Notices.</u> All notices and other communications required or permitted hereunder to be given to a Party
 to this Agreement shall be in writing and shall be telecopied or mailed by registered or
 certified mail, postage prepaid, or otherwise delivered by hand or by messenger. Any notice
 sent in accordance with this Agreement shall be effective (i) if mailed, seven (7) business
 days after mailing to the address set forth each Party's signature below, (ii) if sent
 by messenger, upon delivery, and (iii) if sent via telecopier, upon transmission and electronic
 confirmation of receipt or (if transmitted and received on a non-business day) on the first
 business day following transmission and electronic confirmation of receipt. Additionally,
 a copy of each notice sent or delivered to (1) the Borrower and to (which does not constitute
 a notice) shall be sent or delivered to Mark Cohen, Esq., c/o Pearl Cohen Zedek Latzer Baratz
 LLP, Times Square Tower, 7 Times Square, New York, NY 10036, and (2) the Lender (which does
 not constitute a notice) shall be sent or delivered to Epstein Rosenblum Maoz, 94 Yigal Alon
 St., Tel Aviv, Israel, Attention: Simon Marks, Adv.

&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Assignment; Waiver.</u> This Agreement may not be assigned by the Borrower without the prior written
 consent of the Lender. The Lender may assign this Agreement without the prior written consent
 of the Borrower. This Agreement shall be binding upon the successors, assigns and representatives
 of each Party. No delay or omission to exercise any right, power, or remedy accruing to any
 Party upon any breach or default under this Agreement, shall be deemed a waiver of any other
 breach or default theretofore or thereafter occurring. All remedies, either under this Agreement
 or by law or otherwise afforded to any of the Parties, shall be cumulative and not alternative.

&nbsp;&nbsp;&nbsp;&nbsp;f. <u>Severability.</u> If any provision of this Agreement is unenforceable or not possible under applicable law
 or regulation or are judicially determined to be unenforceable, such term shall be deleted
 and the parties agree that the validity or enforceability of the remaining provisions will
 not be affected and shall remain in full force and effect ; provided, however, that in such
 event this Agreement shall be interpreted so as to give effect, to the greatest extent consistent
 with and permitted by applicable law, to the meaning and intention of the excluded provision
 as determined by such court of competent jurisdiction. All compliance with the provisions
 of this Agreement by the Parties hereto are subject to all applicable laws and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;g. <u>Counterparts.</u> This Agreement may be executed in any number of counterparts, each of which shall be deemed
 an original but all of which together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;h. <u>Headings.</u> Section headings are used herein for convenience and reference only, are not part of this
 Agreement and shall not affect the construction of, or be taken into consideration in interpreting,
 this Agreement.

*[Remainder of Page Intentionally Left Blank]*

 

*[Convertible Loan Agreement – Orgenesis – Alon Tal - 2025]*

**IN WITNESS WHEREOF,** the Parties have executed this Convertible Loan Agreement as of the date first above written.

"**BORROWER"**

**Theracell Laboratories IKE**

---

| | |
|:---|:---|
| By: |  |
| Name : | George PapadopoulosTitle: Legal Representative |
| Address: | 1 Apollonos St. Parodos, Industrial Zone 19400 Koropi Greece |
| Signature: | ![](ex10-1_001.jpg) |
| By: | Orgenesis Inc. |
| Name: | Vered Caplan |
| Title: | Chief Executive Officer |
| Address: 20271 Goldenrod Lane, Germantown, Maryland, 20776 USA | Address: 20271 Goldenrod Lane, Germantown, Maryland, 20776 USA |
| Signature: | ![](ex10-1_002.jpg) |
| Date: | 09/10/25 |
| "**LENDER**" |  |
| **ALPHA PROSPERITY FUND SPC**, acting on behalf of and for the account of **SEGREGATED PORTFOLIO P**, its segregated portfolio | **ALPHA PROSPERITY FUND SPC**, acting on behalf of and for the account of **SEGREGATED PORTFOLIO P**, its segregated portfolio |
| By: | ![](ex10-1_003.jpg) |
| Name: |  |
| Title: |  |
| Address: |  |

---

**Exhibit A**

**<u><br> Orgenesis IP</u>**

**Exhibit B**

Litigation