Document:

Bright Minds Biosciences Inc.: Exhibit 4.24 - Filed by newsfilecorp.com

    

    CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND IS THE TYPE THAT THE COMPANY TREATS AS PRIVATE OR CONFIDENTIAL.

    BRIGHT MINDS BIOSCIENCES INC.
INDEPENDENT CONTRACTOR AGREEMENT

    THIS INDEPENDENT CONTRACTOR AGREEMENT (this "Agreement") is dated effective December 1, 2022

    BETWEEN:

    BRIGHT MINDS BIOSCIENCES INC., a company with its registered address at 1500-1055 West Georgia St., Vancouver, British Columbia (the "Company")

    AND:

    DR. MARK A. SMITH, an individual with an address at "****" (the "Contractor")

    WHEREAS the Company wishes to engage the Contractor to perform, and the Contractor wishes to perform, certain services described in this Agreement on a contract for service basis, on the terms and conditions provided herein.

    NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the mutual covenants and agreements herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

    PART 1
PROVISION OF SERVICES

    1.1 Services.  The Company agrees to retain the Contractor, and the Contractor agrees to be retained, to perform for the Company those services described in Schedule A (the "Services").  In connection with that:

    (a) the Contractor agrees that this Agreement is a contract for services and that the Contractor will perform the Services as an independent contractor, and not as an employee, agent, partner, or joint venture. Nothing in this Agreement or in the conduct of the parties in relation to this Agreement shall be deemed or construed as creating any relationship (whether as employer/employee, agency, joint venture, association or partnership) except as expressly agreed in this Agreement;

    (b) the Contractor acknowledges and agrees that the Company is part of a group of entities including, as applicable, parent, affiliate and subsidiary companies (collectively, the "Group") and, as such, the Company may request that the Contractor perform the Services for and on behalf of the Group, all of which will be covered by this Agreement and nothing in so doing will entitle the Contractor to any direct or indirect reimbursement or compensation from any other Group member except for the Contractor's compensation by the Company as expressly set out in this Agreement. For the avoidance of doubt, a reference to the Company in this Agreement shall be understood as including the Group; and

    

    
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    (c) in any relationship with the Company, including pursuant to this Agreement, the Contractor will fully abide by the Protection of Corporate Interests Agreement attached hereto as Schedule B (the "POCI"), which will be entered into by the Contractor concurrently herewith and the restrictions and obligations set out in the POCI form an integral part of the Contractor's restrictions and obligations hereunder, and are hereby incorporated by reference.

    1.2 Registrations.  As a condition to any of the Company's obligations to the Contractor under this Agreement, the Contractor will first obtain all Registrations (defined below) prior to performing any Services, and the Contractor will continue to maintain them at all times during its engagement pursuant to this Agreement.  The Contractor will, both for itself and, if applicable, all of its personnel and employees ("Personnel"), do the following:

    (a) register, maintain, and comply with any licenses, registrations, and other approvals required in connection with the performance of the Services by any government or regulator (each, a "Registration");

    (b) obtain, maintain, and comply with all necessary work permits, visas, and immigration statutes necessary to perform the Services; and

    (c) deliver to the Company, as soon as practicable but in any case as the Company requests, proof of the foregoing in good standing.

    1.3 Performance and Quality of Service.  The Contractor will perform the Services as described in Schedule A, but always in a timely, competent, and professional manner and in accordance with the highest standards and practices commonly expected of qualified and experienced providers of similar services. The Contractor warrants that the Contractor has the required qualifications, skills, and experience to perform the Services. The Contractor will perform the Services in a manner which is reputable and which brings good repute to the Company, the Company's business interests and the Contractor.  In the event that the Company has a reasonable concern that the business as conducted by the Contractor is being conducted in a way contrary to law or is reasonably likely to bring disrepute to the business interests of the Company or the Company's reputation, the Company may require that the Contractor make such alterations in the Contractor's business conduct or structure as the Company may reasonably require, in its sole and absolute discretion.  In performing the Services, the Contractor will:

    (a) review and comply with any working practices, rules or procedures applicable to independent contractors at any location where the Services are being performed (whether or not at the Company's premises);

    (b) act in, and use its best efforts to promote and protect, the interests of the Group in accordance with the general policy and directions of the Company;

    (c) comply with the policies of the Group that are disclosed to the Contractor from time to time;

    

    
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    (d) execute such further documents to acknowledge having read, understood, and agreed to be bound by such policies of the Group, as applicable from time to time;

    (e) comply with all reasonable instructions given to the Contractor by the Company provided that the Contractor shall not be subject to the direction of the Company as to the manner in which the Services are to be provided;

    (f) give to the Company such information regarding the provision of the Services, or obtained by the Contractor in the course of performing the Services, as the Company may reasonably request; and

    (g) immediately disclose to the Company any conflict of interest (not only in respect of the Company but also with respect to the Group) that arises in relation to the provision of Services as a result of any present or future appointment, employment or other interest of the Contractor.

    1.4 Personnel.  If the Contractor uses Personnel in connection with the Services, the Contractor shall be solely responsible for the work performed by Personnel and for all of the acts and omissions of the Contractor's Personnel in connection with the Services, as if the things they did (or failed to do) were things the Contractor did (or failed to do), and the Contractor will:

    (a) make sure all Personnel are trained and competent;

    (b) supervise and control all Personnel;

    (c) exercise exclusive responsibility for all Personnel;

    (d) pay and treat all Personnel in accordance with Contractor's obligations under law; and

    (e) make sure that all Personnel comply with the terms of this Agreement.

    1.5 No Authority.  In the Contractor's capacity as an independent contractor, the Contractor shall not represent the Company in any capacity whatsoever, nor shall the Contractor have any authority to legally bind the Company, orally or in writing, to any legal obligation, unless expressly authorized by this Agreement.  To the extent that the Contractor has another role with the Company (such as director), any authority conferred in connection with that other role is separate herefrom, notwithstanding that the POCI applies in all such situations.

    1.6 Effort.  The Contractor will provide the full benefit of the Contractor's and as applicable, the Contractor's Personnel's, knowledge, expertise, technical skill and ingenuity in connection with the provision of the Services and is responsible for ensuring that appropriate attention, time, and effort is dedicated to deliver the Services pursuant to this Agreement.

    1.7 Equipment and Location.  The Contractor will be responsible for supplying all materials, equipment and supplies necessary to perform the Services, including any necessary office or work space, and for determining the location from which the Services are provided.  From time to time the Company may provide certain materials, equipment or space, or require the Contractor to attend to a certain location, for its own convenience and in its sole discretion.

    

    
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    1.8 Concurrent Work.  Nothing in this Agreement shall prevent the Contractor from undertaking any other business activities for other clients during the term of this Agreement, provided that the Contractor has obtained the Company's prior written approval to undertake such business activities and provided that such activity does not interfere or conflict with the Contractor's obligations under this Agreement or cause a breach of this Agreement, including Section 4.1.

    1.9 Insurance and Related Premiums.  During the term of this Agreement, the Contractor shall be solely responsible for any licenses, registrations, dues and insurance premiums that may be required in respect of the provision of the Services.  If Schedule A sets out any particular insurance requirements, the Contractor will adhere to those.

    PART 2
FEES AND EXPENSES

    2.1 Fees.  In consideration for performing the Services, the Company will pay the Contractor those fees (the "Fees") set out in Schedule A.

    2.2 Expenses.  The Company will reimburse the Contractor for reasonable and approved expenses arising in connection with the Contractor's performance of the Services.  However, the Contractor will obtain the Company's written approval before incurring any expenses. If the Contractor has done so, the Company will reimburse the Contractor in accordance with its normal policies and practices for reasonable out-of-pocket expenses or disbursements actually and necessarily incurred or made by the Contractor in performing the Services, including reasonable accommodation, food, shared transportation, and similar reasonable basic expenses required to provide the Services outside of the region of residence of the Contractor (collectively, "Expenses"). For all Expenses, the Contractor will supply the Company with originals of receipts, invoices or statements. The Contractor will furnish the Company with an itemized account of Expenses in such form or forms as may reasonably be required by the Company, and at such times or intervals as may be required by the Company.

    2.3 Set Off.  The Company may deduct or set off from any Fees or Expenses due to the Contractor any sums the Contractor may owe to the Company from time to time.

    2.4 Taxes.  The Company shall not be required to deduct or remit to any governmental authority any amount in respect of the Fees paid to the Contractor pursuant this Agreement, including any applicable taxes, fees, levies or other charges. The Contractor shall pay and remit taxes, fees, levies and other charges in respect of the Fees as may be required by law to any governmental authority and indemnifies and holds harmless the Company and the Group from any claims arising from the Contractor's failure to comply with any such applicable laws. 

    2.5 Withholding and Remittances.  The Contractor acknowledges that (a) the Contractor is acting and will act only as an independent contractor, and (b) if the Contractor has Personnel, any and all Personnel are acting and will act only as independent contractors through the Contractor (and, in any event, never as employees or direct contractors of the Company or the Group). The Company will not provide any employee-like benefits or any direct or indirect compensation other than what the Company has expressly stated in this Agreement. The Contractor will be responsible for collecting and remitting payments for employment insurance, workers' compensation insurance, health care insurance, social insurance, and other similar employment and tax related payments and remittances for the Contractor as required by any applicable law and the Contractor will hold the Company fully harmless against any liabilities or penalties incurred upon a failure to do so.

    

    
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    2.6 Payments Subject to Claims or Liens.  The Company's obligation to pay any Fees or reimburse any Expenses will be subject to there being no claims or liens asserted relating to the Services for which the Contractor is alleged in any way to be responsible.

    PART 3
TERM AND TERMINATION

    3.1 Term.  The term of this Agreement will be as set out in Schedule A.

    3.2 The Agreement may be terminated as follows:

    (a) By the Company at any time during the term of the Agreement, without notice or pay in lieu of notice, for Cause. For purposes of this Agreement, "Cause" shall include but not be limited to:

    (i) any act, omission, or behaviour by the Contractor that would constitute just cause for dismissal of an employee at common law;

    (ii) as a result of any failure by the Contractor to provide the Services or to provide the Services in a competent manner, where the Contractor fails to remedy such failure to the satisfaction of the Company within fifteen (15) days after receiving notice of such failure;

    (iii) upon any breach of Sections 1.2 or 1.4 of this Agreement, or the POCI attached hereto as Schedule B; or

    (iv) a material breach of the Contractor's obligations under this Agreement.

    (b) By the Company at any time during the term of this Agreement without Cause, and without further obligation, by providing the Contractor with one (1) month's written notice, or in the Company's sole discretion compensation for one (1) month's Fees in lieu of notice. The parties agree that the notice or payment in lieu of notice provided pursuant to this Section 3.2(b) shall fully satisfy any obligation owed by the Company to the Contractor and the Contractor shall have no further claim for termination of this Agreement.

    (c) By the Contractor on three (3) months' written notice to the Company, for any reason, in which case the Company may waive or abridge such notice period in its sole discretion and the Agreement will then end on such earlier date as specified by the Company.

    (d) By either party immediately on notice to the other (or its receiver or trustee in bankruptcy) if the other party is adjudged bankrupt, or if it makes a general assignment for the benefit of creditors or if a receiver is appointed on account of the its insolvency; or

    (e) By mutual written agreement of the parties.

    3.3 Effect of Termination.  Any termination of this Agreement will be without prejudice to any other rights or remedies available to the terminating party and will not relieve either party of its obligations under this Agreement that have accrued up to the time of termination, and:

    

    
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    (a) the Contractor will immediately cease any and all use of the Company's intellectual property rights including its Confidential Information as defined and provided for in the POCI;

    (b) the parties will cooperate in good faith to bring about a smooth and orderly termination and transition; and

    (c) the Company's sole liability will be to pay the Contractor such Fees and Expenses as are due and payable pursuant to Part 2, within thirty (30) days of such termination, for all Services performed to the time of termination, and the Contractor will have no other claim against the Company for compensation, losses, costs, or damages.

    3.4 Survival.  All obligations and rights that, by their nature, are intended to survive the termination or expiration of this Agreement will so survive.

    PART 4
RESTRICTIVE COVENANTS

    4.1 Restrictive Covenants.  The Contractor will not, directly or indirectly, without prior written consent from the Company, (whether individually, jointly or in conjunction with any person) in any manner (including any individual, firm, association, syndicate, company, corporation, or other business enterprise, as principal agent, shareholder, officer, independent contractor, employee or in any other manner whatsoever), during the term of this Agreement (or any renewal) and for a period of two (2) years from the termination of the Agreement (regardless of the reason for the termination or the party effecting it):

    (a) Non Compete - be employed by, carry on or be engaged in, or perform services similar to those performed for the Company in respect of, any business or undertaking working on creating any compounds designed to target serotonin or NMDA receptors (a "Competitive Business") anywhere in the world. Notwithstanding the foregoing, the Contractor will not be in default under this provision by virtue of any involvement in an undertaking that carries on multiple businesses, one of which is a Competitive Business, provided that the Contractor is not involved in the Competitive Business;

    (b) Non-Solicitation - solicit or canvass any customers, candidates, clients, or suppliers of the Company or the Group with whom the Contractor has worked during the previous two (2) years in a manner that has the effect of transferring to any other person, or reducing business, relationships, services or other benefits, from the Company or the Group, any customers, candidates, clients, or suppliers; or

    (c) No Hire - seek in any way to persuade or entice any person to terminate an employment, advisory or consulting position with the Company or the Group (with whom the Employee has had contact during the previous two (2) year period or hire or retain the services of any such person, provided that nothing in this provision shall prevent the Contractor from directly or indirectly hiring or retaining any person pursuant to general, public job advertisements that are not targeted to the Company or the Group's personnel.

    4.2 Reasonableness.  The Contractor agrees that:

    

    
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    (a) all restrictions contained in this Part and in the POCI are reasonable and valid in the circumstances and all defences to the strict enforcement thereof by the Company are hereby waived by the Contractor;

    (b) in particular, the non-competition restriction without geographic limit is reasonable given the worldwide nature of the Group's business; and

    (c) the restrictions contained in this Part or the POCI are each separate and distinct covenants, severable one from the other and if any such covenant or covenants are determined to be invalid or unenforceable, such invalidity or unenforceability will attach only to the covenant or covenants as so determined and all other such covenants will continue in full force and effect.

    4.3 No Publicity.  The Contractor shall not enter into any publicity or make any announcement with regard to this Agreement without the Company's prior written consent.

    PART 5
INJUNCTIVE RELIEF, INDEMNIFICATION AND LIABILITY 

    5.1 Injunctive Relief.  The Contractor agrees that monetary damages for any breach of Part 4 or the POCI would be inadequate for the immediate and irreparable harm that would be suffered by the Company for any such breach, and so, on any application to any applicable court, the Company will be entitled to temporary and permanent injunctive relief against the Contractor without the necessity of proving actual damage to the Company or to the Group, and the Contractor will not raise adequacy of damages as a defence.

    5.2 Indemnity by Contractor.  The Contractor will indemnify and hold harmless the Company and the Group, and their respective directors, officers, employees, representatives, and agents, for any claims, actions, losses, expenses, costs, fees, liabilities or damages (including reasonable legal fees and disbursements and amounts paid in settlement) of every nature and kind howsoever arising out of or related to the performance of the Services by the Contractor and/or its Personnel, including but not limited to any of the following:

    (a) breach of Part 4;

    (b) breach of the POCI;

    (c) claim by a third party that the Company or the Group has infringed any third party intellectual property or other proprietary rights as a consequence of any Services provided by the Contractor or its Personnel;

    (d) fraud, gross negligence, or wilful misconduct of the Contractor or its Personnel in connection with this Agreement; or

    (e) breach of applicable law by the Contractor and/or its Personnel.

    5.3 Exclusion and Limit of Liability.  Except for a contravention of law, or in the case of an indemnity under Section 5.2, in no event will:

    

    
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    (a) either party be liable for any claims made by the other for any special, indirect, incidental, or consequential damages in connection with this Agreement, whether for negligence or breach of contract, including without limitation loss of business opportunities, profits, or revenues, and whether or not the possibility of such damages or loss of opportunities, profits, or revenues has been disclosed in advance or could have been reasonably foreseen; and

    (b) the Company's liability for any and all direct damages in connection with this Agreement in aggregate exceed the total Fees actually paid or payable to the Contractor for the Services performed under Part 2.

    PART 6
GENERAL TERMS

    6.1 Force Majeure. For the purposes of this Agreement, "Force Majeure" means an event or circumstance beyond the reasonable control of a party that prevents or delays that party's ability to perform its obligations under this Agreement, including Acts of God, strikes and labour disputes, fires, floods, earthquakes, power or telecommunication failure or interruption, war, riots, Internet slow-downs or failures, insurrection or civil disturbances and personal incapacity including illness or death, but excludes a lack of money, credit or financing. In all cases, despite anything else in this Agreement, if Force Majeure delays or prevents a party from wholly or partly performing its obligations under this Agreement, it will be relieved of those obligations to the extent, and for the period, that it is affected by such Force Majeure, provided that it: (a) notifies the other party as soon as practicable, and (b) uses commercially reasonable efforts to mitigate the Force Majeure. For greater certainty, nothing in this Section 6.1 prevents the Company from terminating this Agreement in accordance with Sections Error! Reference source not found. and Error! Reference source not found.

    6.2 Precedence.  The provisions of the POCI are in addition to, and are not intended to replace or conflict with (a) any other privacy, protection of personal information, non-disclosure, or confidentiality agreements in writing between the parties and relevant to the Services or the subject matter of this Agreement, (b) any common law duties of confidentiality or privacy that may be owed by one party to another, or (c) this Agreement.  To the extent of any conflict or inconsistency between the terms of such provisions with any such other agreement or common law obligations, or any other terms of this Agreement, the provisions that are the most protective of the Company's and the Group's proprietary interests will prevail in order to resolve the same.

    6.3 Entire Agreement.  This Agreement, including all Schedules and the POCI, forms the entire agreement between the parties and supersedes and fully replaces every previous agreement, communication, expectation, negotiation, representation, or understanding, whether oral or written, express or implied, statutory or otherwise between the parties with respect to the subject matter of this Agreement. Neither party has relied on any representation, warranty, covenant, obligation or statement that is not expressly set out in this Agreement.

    6.4 Waivers and Amendments.  This Agreement may be amended, modified, superseded, cancelled, renewed or extended only by a written agreement between the parties. Failure or delay by either party to enforce compliance with any term or condition of this Agreement will not constitute a waiver of such term or condition.

    6.5 Governing Law and Jurisdiction.  This Agreement will be governed by and construed in accordance with the laws of the Province of British Columbia. All claims, issues, disputes and controversies arising in connection with or out of this Agreement will be adjudicated in the courts of the Province of British Columbia, which will have exclusive jurisdiction with respect to all matters arising hereunder.

    

    
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    6.6 Notice.  Every notice, request, demand, or direction (each, for the purposes of this section, a "notice") to be given pursuant to this Agreement by either party to another will be in writing and will be delivered or sent by registered or certified mail, postage prepaid and mailed in any government post office, or other similar form of written communication, and in each case, addressed as above or to another address as notified hereunder from time to time. Any notice delivered in accordance with this Section will be deemed to have been given and received on the day it is so delivered at such address, provided that such day is not a Business Day.  If notice is so delivered on a day that is not a Business Day, then the notice will be deemed to have been given and received on the next Business Day. In this Agreement, "Business Day" means any day that is not a Saturday, Sunday or civic or statutory holiday in the Province of British Columbia.

    6.7 Subcontracting and Assignment.  The Contractor will not, without the Company's prior written consent (in its sole discretion), subcontract or otherwise assign, in whole or in part, any or all of the Contractor's rights or obligations under this Agreement. Any purported transfer or assignment by the Contractor without the Company's prior written consent will be null and void.

    6.8 Enurement. This Agreement will enure to the benefit of and be binding upon the parties hereto, their respective successors, heirs, representatives, administrators and permitted assigns. The Company shall have the right to assign this Agreement, or the benefit thereof, to the Group or to any successor (whether direct or indirect, by purchase, amalgamation, arrangement, merger, consolidation or otherwise). The Contractor, by the Contractor's signature hereto, expressly consents to such assignment and, provided that the Group or such successor, as applicable, agrees to assume and be bound by the terms and conditions of this Agreement, all references to "the Company" hereunder shall include the Group and any such successor, as applicable.

    6.9 Severability.  If any provision of this Agreement is determined to be invalid or unenforceable in whole or in part, such invalidity or unenforceability will attach only to such provision or part thereof and the remaining part of such provision and all other provisions hereof will continue in full force and effect. The parties hereto agree to negotiate in good faith to agree to a substitute provision, which will be as close as possible to the intention of any invalid or unenforceable provision as may be valid or enforceable.

    6.10 Interpretation.  In this Agreement: (a) "Section" means a section, subsection, paragraph, or sub-paragraph of this Agreement and "Part" means a captioned part of this Agreement; (b) headings are included in this Agreement for convenience of reference only and do not form part of this Agreement; and (c) the word "including" is not meant to be limiting (whether or not used with phrases such as "without limitation" or "but not limited to") and the word "or" is not meant to imply an exclusive relationship between the matters being connected.

    6.11 Independent Legal Advice.  Each party acknowledges having fully read and understood this Agreement, and having either received independent legal advice, or having had the opportunity to receive independent legal advice, with respect to this Agreement.  Each party is signing this Agreement voluntarily, without coercion or compulsion, and without relying upon any representations, promises or terms, except as expressly set out in this Agreement.

    

    
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    6.12 Counterparts.  This Agreement may be executed in two or more counterparts, each of which will be deemed an original, and all of which together will constitute one and the same instrument. The counterparts of this Agreement may be executed, scanned and transmitted electronically and electronic signatures shall be deemed original signatures for the purposes of this Agreement.

    [Signature page follows]

    

    IN WITNESS WHEREOF, the parties have executed this Agreement with effect as of the day and year first above-written.

    BRIGHT MINDS BIOSCIENCES INC.

    	Per:	/s/ Ian McDonald	 
	 	Authorized Signatory	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	 	 
	Dr. Mark A. Smith	 
	 	 
	/s/ Mark A. Smith	 
	Signature of Contractor	 
	 	 
	 	 
	/s/ November 13, 2022	 
	Date of Signature	 

    

    

    SCHEDULE A
SERVICES AND OTHER RELATED TERMS

    A1. Services (Scope of Work).  The Services will consist of the services normally and reasonably associated with the position of Chief Medical Officer, and such other services as may be reasonably requested or assigned by the Company from time to time.

    A2. Reporting.  The Contractor will report to the following person at the Company: Ian McDonald, CEO

    A3. Insurance.  The insurance the Contractor carries will meet additional terms as requested by the Company from time to time.

    A4. Location and Equipment.  The Contractor will provide the Services from the Contractor's city of residence and is responsible for providing (at its own expense) such facilities, systems, communication devices, hardware, software, tools, materials and other equipment necessary to perform the Services. To the extent that the Company may temporarily provide equipment or facilities for the Contractor's use in performing the Services, the Contractor will use them for the Services only, the Contractor will keep them in good condition (reasonable wear and tear excepted), and the Contractor will return them to the Company upon its request, and in any event, upon termination of this Agreement. The Company shall assist the Contractor in obtaining a visa for such travel.

    A5. Term.  The term of this Agreement begins on the date first set forth above (the "Effective Date") and will continue for an initial period of one (1) year unless terminated earlier in accordance with the terms of the Agreement. The Agreement will automatically renew for successive terms of one year, unless the Company provides notice to Contractor no less than thirty (30) days prior to the end of the then-current term of its intention not to renew.

    A6. Fees.  The Contractor will provide the Services as needed. The Contractor will be compensated for the Services as follows: $205,000 (USD) annually, payable in equal monthly installments. 

    A.7 Signing Bonus. The Company shall pay to the Contractor a signing bonus on signature of this Agreement in an amount of $35,000 USD. Should the Contractor fail to perform the Services in a manner satisfactory to the Company during the first twelve (12) months of this Agreement, then the Contractor agrees to repay a prorated amount of the bonus to the Company.

    A8. Options. The Contractor shall be granted 300,000 stock options (the "Options") at the applicable closing price as at grant pursuant to Part 5 of Policy 6 of the Canadian Securities Exchange, on the terms of the Company's Stock Option Plan dated July 1, 2020, with 25% of the Options to vest on the first, second, third, and fourth anniversary of the date of grant.

    A.9 Payment and Invoices.  The Contractor will invoice the Company on the first day of each calendar month for the Fees incurred in respect of that month and shall deliver such invoice to the attention of Bright Minds Biosciences Inc. or as otherwise directed by the Company. All invoices will include a report on the Services performed together with an accounting of the time since the last invoice the Contractor spent providing the Services. The Company will pay all invoices within thirty (30) calendar days of receipt of an undisputed invoice.

    

    
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    SCHEDULE B
PROTECTION OF CORPORATE INTERESTS AGREEMENT

    [See Attached]

    

    
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    BRIGHT MINDS BIOSCIENCES INC. (THE "COMPANY")
PROTECTION OF CORPORATE INTERESTS AGREEMENT

    As a fundamental term and condition of my direct or indirect engagement with the Company, its affiliates, including any parent or subsidiary companies, or any other companies under common control of or with the Company (collectively, including the Company, the "Group"), and in consideration of my access to and receipt of information, intellectual property and resources of the Group as well as the agreement of the Company to provide compensation as set out in the agreement defining my relationship (including, if I am engaged through a corporate contractor, the direct and indirect benefit I will receive from such contractual relationship), all acknowledged by me to be good and sufficient, I agree with the Company as follows:

    1. Effectiveness. This Agreement is effective as of the date set out below (the "Effective Date"), but applies to all Confidential Information and Inventions (each as defined below) as and from the earliest date that I performed services for the Company or any other entities of the Group, whether as contractor, consultant, officer, advisor, employee, director or otherwise, or whether directly myself or indirectly contracted through a third party (the "engagement").

    2. Confidential Information. In this Agreement, "Confidential Information" includes any data, proprietary information, trade secrets, know-how, inventions, chemical compounds, chemical formulations, research and development, techniques, materials, training, products, technology, computer programs, prototypes, specifications, drawings, schematics, sketches, patent applications, patent application drawings, manuals, software, test results, technical data, tools, systems, methods of use, processes, programs, marketing plans, sales plans, product plans, business plans, strategies, business partners and relationships, business operations and methods, financial information, products, services, customer data (including requirements), formulas, designs, engineering or other information disclosed or submitted to me, or made available for access by me, by or on behalf of any of the Group concerning the business of one or more of the Group, in each case (i) whether direct or indirect, (ii) regardless of the means or media of disclosure or access, (iii) whether it is in writing or made available orally, visually, aurally, electronically whatever form, and (iv) whether disclosed prior to, contemporaneously with or after the Effective Date. I agree with the Company's intent to define Confidential Information as broadly as possible within the permissible context of applicable law.

    (a) Inclusions. During my engagement, one or more of the Group (or other parties on their behalf) will provide me with, and I will have access to, Confidential Information, which has been created and developed by the Group at substantial expense. Without limiting anything else in this Section 2, I agree that Confidential Information includes all information made available to me by or on behalf of the Group that (i) is not available or known to the general public, (ii) by its nature or the nature of its disclosure, would reasonably be determined to be confidential or proprietary, or to have value in being kept confidential, (iii) is Third Party Information (as defined below), or (iv) is marked or indicated as proprietary or confidential.

    (b) Disclosure or Misuse of Confidential Information. I will not, at any time (during my engagement and thereafter), directly or indirectly disclose or make accessible to any person, or make any use of, any Confidential Information, except as expressly authorized by the Company in writing or as strictly required by my engagement. I will protect the Confidential Information using at least the same standard I treat my most sensitive information, but in any event never less than a reasonable degree of care (which includes my adherence to any policies about Confidential Information made available to me by the Group from time to time). I will take all steps necessary to safeguard Confidential Information from unauthorized disclosure as set out in this Agreement, and I will not, directly or indirectly (i) copy or use any Confidential Information except as strictly necessary to make any disclosure permitted by this Agreement or to carry out the duties of my engagement, (ii) develop, manufacture, produce or distribute any physical, intangible or electronic product or other technology derived from, or that uses, Confidential Information, other than for the Group's benefit, or (iii) disclose Confidential Information except strictly to authorized Company directors, officers, consultants, representatives or personnel, and only where necessary in connection with my duties of engagement.  Unless express written consent is given by the Group, I shall not decompile, disassemble, or reverse engineer by any means whatsoever, or alter, modify, enhance, or create derivative works of the Confidential Information.

    (c) Restricted Information. I will not improperly use or disclose any proprietary information of any former or concurrent employer (or other person to whom I have an obligation of confidentiality) in my engagement, and I will not bring onto any Group entity premises any unpublished or proprietary documents or information of such person unless consented to in writing by the Company and that person.

    (d) Third Party Information. I understand that the Group has received, and will receive, from third parties confidential information subject to a duty of confidentiality by the Group (collectively, "Third Party Information"). At all times (during my engagement and thereafter) I will hold such Third Party Information in strictest confidence and will not disclose it to anyone other than Group personnel who need to know it in connection with their work for the Group, nor will I use it except where necessary in connection with my duties of engagement.

    

    
        - 2 -

    

    (e) Required Disclosures. If I become subject to legally-binding requirements to disclose Confidential Information to a court, regulator, or other authority having jurisdiction over me (including by requests for information or documents, subpoenas, civil investigative demand or other similar process), I will only disclose strictly what I am required to disclose in order to comply with that requirement, but only after I, (i) unless prohibited by such applicable law, give the Company written notice as soon as possible so that it may contest the requirement or seek protections, and (ii) cooperate in good faith with the Company in its efforts to do so.

    (f) Exceptions. My obligations under Section 2 do not apply to information that (i) is or becomes generally known in the industry or to the general public rightfully without restrictions of confidentiality, (ii) I rightfully had in my possession prior to my engagement or my access to the Confidential Information, or (iii) I acquire from a third party who has the right to disclose it to me without an obligation of confidentiality after my engagement.

    3. Inventions. I agree with the Company's intent that the Company will own all right, title and interest in and to all Inventions (as defined below). As such, I hereby represent, warrant and covenant as follows:

    (a) Definitions. In this Agreement, (i) "Inventions" means and includes any and all inventions, original works of authorship, developments, concepts, improvements, designs, social media posts, logos, discoveries, ideas, trademarks, work product, Confidential Information, data, and all tangible and intangible materials, in each case whether or not patentable or registrable under copyright or other intellectual property laws anywhere in the world, and (ii) "Work Product" means Inventions that I (solely or jointly with others) conceive of, develop, create, improve, acquire, reduce to practice or otherwise make, refine or bring into existence, or cause any of the foregoing to be done (collectively, "Develop"), whether or not during regular working hours and whether or not I was specifically instructed to do so, that (A) in any way relate to the present or proposed programs, services, products or business of the Group or to tasks assigned to me in relation to my engagement; or (B) I, in any way, used any Group entity's property, products, processes, software or other resources, including any Confidential Information or personnel.

    (b) Assignment of Work Product. I will promptly make full written disclosure to the Company, will hold in trust for the sole right and benefit of the Company (or its designee), and hereby assign to the Company (or its designee), all of my right, title, and interest (including all intellectual property rights) in and to all Work Product. To the extent I may, by operation of law or otherwise, acquire any right, title or interest (including any intellectual property right) in or to any Work Product, I hereby irrevocably assign to the Company (or its designee) all such rights, titles and interests (and by so acquiring any such right, title or interest, I will be deemed to have so assigned such rights, titles and interests by this written instrument). Furthermore, I waive for the benefit of the Group and any of their successors in interest any and all of my moral rights in and to all Work Product. To the extent the laws of the United States of America apply to any copyrightable work, the Work Product are "works made for hire" and are owned by the Company.

    (c) No Obligations to Third Parties. Except otherwise in accordance with the terms of this Agreement, I am not under any obligation to assign any of my rights, title, or interest in or to any Inventions or Work Products to any third parties, or to waive my moral rights in such Inventions or Work Products in favour of any third parties.  For certainty, I hereby confirm that I am not affiliated with, a student of, employed by, or otherwise owe any obligations to any government entity, academic institution, for-profit entity, or not-for-profit entity, and that my ability to assign all of my rights, title, and interest in and to any Inventions or Work Products is unencumbered or subject to any prevailing obligation to a third party.

    (d) Further Acts. During and after my engagement, upon the request of any Group entity, I will promptly execute and deliver to such Group entity all such assignments, certificates, and instruments as so requested, and will promptly perform such other acts, as the Group entity may from time to time in its discretion deem necessary or desirable to evidence, establish, maintain, perfect, enforce or defend the Company's (or its designees') rights in Confidential Information or Work Product, provided that if the request requires that I undertake any travel or incur any costs in connection with performing such obligations after I am no longer engaged by any Group entity, the Company or the relevant Group entity will reimburse me for my actual, reasonable, and documented costs incurred in connection therewith.

    (e) Third Party or Prior Inventions. I agree not to introduce into any Work Product or any of the Group's products, processes, machines, software or services (or otherwise use in connection with the duties of my engagement) any Inventions or proprietary or intellectual property rights in which I have any interest whatsoever (collectively, including any of the same that were made by me prior to or outside of my engagement, referred to as my "Prior Inventions"), or in which any third parties have any rights, titles or interests (collectively, "Third Party Inventions"), without first obtaining the written consent of the Company in accordance with the Group's policies as disclosed to me from time to time. If I do incorporate any Prior Invention, I hereby irrevocably grant (and by such action will be deemed to have granted, by this written instrument) a nonexclusive, sublicensable, royalty-free, irrevocable, perpetual, worldwide license to the Company and each of the Group to make, modify, use, and sell (or have made, modified, used or sold) such Prior Invention as part of or in connection with its or their business as may exist from time to time. If I do incorporate any Third Party Invention, I will first provide the Company with the relevant third party license thereto for its review and approval, at all times in accordance with the development policies of the Group.

    

    
        - 3 -

    

    (f) Maintenance of Records. I will keep and maintain adequate and current written records of all Inventions that are Developed by me during the term of my engagement (regardless of whether I believe them to be Work Product). The records will be in the form of notes, sketches, drawings, and/or any other format that may be specified by the Group's policies from time to time, and I will make them available to, and they will be the sole property of, the Company (or its designee) in accordance with this Section 3 as the Company's Confidential Information.

    (g) Registrations. I will at all times during and after my engagement assist the Group (or their respective designees), at their expense, in every proper way to secure all rights in the Work Product and any copyrights, patents, mask work rights, or other intellectual property rights relating thereto in any and all countries, including (i) the disclosure to the Company of all pertinent information and data with respect thereto, and (ii) the execution of all applications, specifications, oaths, assignments, and all other instruments that the Group deem necessary to apply for and obtain such rights and to assign and convey to the Company (or its designee), its successors, assigns, and nominees, the sole and exclusive rights, title, and interests (including all such rights) in and to such Inventions. I agree that it is my obligation to execute or cause to be executed, when it is in my power to do so, any such instrument or papers after the termination of this Agreement. If a Group entity is unable because of my mental or physical incapacity, or for any other reason, to secure my signature, then I hereby irrevocably and unconditionally designate and appoint the Company (or its successors in interest) and their duly authorized officers and agents as my agent and attorney in fact, to act for and on my behalf and in my stead to execute and file any such applications, and to do all other lawfully permitted acts to further the prosecution and issuance of letters patent or copyright registrations thereon with the same legal force and effect as if executed by me. This appointment is coupled with an interest in the Confidential Information and the Inventions and will survive my death or disability.

    (h) Acknowledgements. I acknowledge that the decision whether or not to commercialize or market any Work Product to which I made any contribution whatsoever is within the Company's sole discretion and for the Group's sole benefit, and that no royalty or remuneration will be due to me as a result of any efforts to commercialize or market them. If my access, possession, use or creation of Confidential Information or Work Product gives rise to a business opportunity for the commercial exploitation thereof, any such exploitation by me (or my assisting any third party in so exploiting the same) other than for the sole benefit of the Group is strictly prohibited.

    4. Injunctive Relief. Any breach or threatened breach of these covenants will cause irreparable injury to the Company and other members of the Group for which money damages would be difficult or impossible to calculate, and the Company and other members of the Group would not have an adequate remedy at law for such breach or threatened breach. Accordingly, temporary injunctive relief is an appropriate remedy against any such breach or threatened breach, without bond or security; provided that nothing herein will be construed as limiting any other legal or equitable remedies that the Company or, as intended third party beneficiaries, any Group entity, might have.

    5. Returning Group Documents. On the Company's request at any time but in any event on the effective date that my engagement by the Company terminates, I will promptly deliver to the Company (and will not keep in my possession, recreate, recover or deliver to anyone else) any and all Confidential Information of the Group, or other documents or property, or reproductions of any of the aforementioned items developed by me pursuant to my engagement or otherwise belonging to the Group, including any Work Product (whether work-in-progress or complete) of any nature, including all copies thereof further including records maintained pursuant to Section 3(f). If any materials reside electronically on non-removable media that is not itself returned to the Company or is otherwise not capable of return, I will deliver an electronic copy thereof to the Company, but in any event I will delete and destroy all electronic copies and will not thereafter directly or indirectly permit or perform any recovery or restoration thereof, through forensics, archives, undeletion or otherwise, without the Company's prior written approval.

    6. Successors; Third Party Beneficiary. Any successor to the Company or any Group entity (as intended third party beneficiaries), whether direct or indirect and whether by purchase, lease, merger, consolidation, liquidation, or otherwise, of all or substantially all of its or their business and/or assets, will assume the rights and remedies afforded to the Company or such Group entity under this Agreement, and their rights and my obligations under this Agreement will apply to such successors in the same manner and to the same extent as in the absence of a succession. For all purposes under this Agreement, (a) the term "Group" includes any successors to the Group's business and/or assets, and (b) each of the Group (and their successors) will be deemed a third party beneficiary of this Agreement and entitled to enforce this Agreement (and seek any remedy hereunder) to the extent relating to its business, Confidential Information or Inventions. To the extent that the foregoing is not sufficient to avail any Group member of any legal or equitable right, benefit or remedy hereunder, the Company irrevocably agrees that it holds the benefits and rights of such Group member as trustee and agent for and on behalf of the same, and acknowledges the direct right of the same to enforce the same, and will reasonably assist any Group member in enforcing such rights on its behalf.

    7. No Assignment by Me. Without the written consent of the Company, I will not assign or transfer this Agreement or any right or obligation under this Agreement to any other person. For greater certainty, if I become engaged by any of the Group entities other than the Company, the terms of this Agreement will continue to govern, with such changes being made as necessary for such new Group entity employer or contractor.

    

    
        - 4 -

    

    8. Notice. The parties agree that all notices under this Agreement will be given in writing and will be served upon the person to whom the notice is addressed in the same manner as notices under my employment, contractor, advisor or engagement agreement. I will promptly notify the Company if I become aware of any violation of this Agreement by me or any other person, and will give the Company all reasonable assistance in connection therewith.

    9. Severability. If a provision or term of this Agreement is determined to be invalid or unenforceable under any applicable law, this Agreement will be considered divisible and will become and be immediately amended to the extent necessary to be valid and enforceable. This Agreement, as so amended, will be valid and binding as though the invalid or unenforceable provision never had been included.

    10. Integration. This Agreement and my engagement agreement represent the entire agreement and understanding between myself and the Group as to the subject matter herein and supersedes all prior or contemporaneous agreements whether written or oral. Notwithstanding this, I acknowledge and agree that this Agreement is in addition to, and is not intended to replace or conflict with, any similar obligations that may exist between any of the Group and me with respect to Inventions or Confidential Information, including (a) other privacy, protection of personal information, non-disclosure, or confidentiality agreements in writing between the parties and relevant to my engagement or the subject matter thereof, or (b) statutory, civil, equitable, fiduciary or common law duties of confidentiality or privacy that may be owed by me to the Group, or remedies that the Group may have against me ("Concurrent Obligations"). If there is any necessary conflict or inconsistency between the Concurrent Obligations, my engagement agreement and this Agreement, the provisions that are the most protective of the Group's rights, titles and interests in and to Inventions or Confidential Information of the Group will prevail in order to resolve the same. Nothing in this Agreement will be construed as defining my duration of engagement, or limiting in any way the right of the Company or me to terminate my engagement pursuant to the terms of my engagement agreement.

    11. Interpretation. Headings are included in this Agreement for convenience of reference only and do not form part of this Agreement. Except as the context requires, the word "including" is not meant to be limiting (whether or not used with phrases such as "without limitation" or "but not limited to") and the word "or" is not meant to imply an exclusive relationship between the matters being connected. A reference to a "person" includes unless the context requires otherwise means any person or entity, including any individual, person, organization, firm, corporation, partnership or business.

    12. Survival. The provisions of this Agreement will survive the termination of my engagement for any reason, whether voluntary or involuntary, as well as the assignment of this Agreement or my engagement agreement by the Company to any successor in interest or other assignee. The provisions of this Agreement will continue to apply to me notwithstanding any change in my engagement, whether fundamental or not and whether incremental or not.

    13. Amendments. No amendment of this Agreement will be binding unless in writing and signed by the party against whom enforcement of any such amendment is sought. Employee manuals, policies, or similar items issued from time to time by the Group do not form part hereof or modify the terms of this Agreement, and are included for clarification only.

    14. Governing Law. This Agreement will be governed by and construed in accordance with the laws of the Province of British Columbia, and the federal laws of Canada applicable therein, without reference to choice of law rules.

    15. Counterparts. This Agreement may be executed in any number of counterparts, each of which will be an original, and all of which together will constitute one and the same instrument.

    
[Signature page follows]

    

    IN WITNESS OF WHICH, I have executed this Agreement, intending to be legally bound by it with the Company, as of the date below:

    AGREED TO this 21st day of December, 2022.

    DR. MARK A. SMITH

    	/s/ Mark Smith	 	 
	Signature	 	 

     (Please also read and initial next to each statement below)

    	    X    	I have read and fully understood this Agreement and its terms, I am fully aware of my rights and obligations under this Agreement, and I have been given the right to consult with independent counsel before signing this Agreement.
	 	 
	    X    	I have been given good and valuable consideration, including my engagement by the Company, and (to the extent that I have signed this after my engagement with the Company has already begun) such other additional benefits or advantages conferred upon me in connection with my signing this Agreement, including at least the Company's agreement to pay me CDN$1.

    ACCEPTED AND AGREED:

    BRIGHT MINDS BIOSCIENCES INC.

    	By:	 /s/ Ian McDonald	 	 
	 	Authorized Signatory	 	 
	 	Name: Ian McDonald	 	 
	 	Title: CEOBright Minds Biosciences Inc.: Exhibit 4.25 - Filed by newsfilecorp.com

    

    CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND IS THE TYPE THAT THE COMPANY TREATS AS PRIVATE OR CONFIDENTIAL.

    AGENCY AGREEMENT

    August 25, 2022

    Bright Minds Biosciences Inc.‎
19 Vestry Street

    New York, NY

    10013

    Attention: Mr. Ian McDonald, President and Chief Executive Officer

    Dear Sir:

    The undersigned, Eight Capital, as the sole agent and bookrunner (the "Agent"), understands that Bright Minds Biosciences Inc.‎ (the "Corporation") proposes to issue up to 2,858,000 units of the Corporation ("Units") at a price of $1.40 per Unit (the "Purchase Price") for aggregate gross proceeds of up to $4,001,200, pursuant to the terms of this agency agreement (this "Agreement"). Each Unit will consist of (i) one common share in the capital of the Corporation ("Common Shares" or in respect of the Offering (as defined below), each, an "Offered Share"); and (ii) one Common Share purchase warrant (a "Warrant"). Each Warrant shall entitle the holder thereof to purchase one Common Share (each, a "Warrant Share") at an exercise price of $1.76 per Warrant Share at any time before 5:00 p.m. (Vancouver time) on the day that is 24 months following the Closing Date (as hereinafter defined). The Units, Offered Shares and Warrants are referred to collectively as the "Offered Securities".

    The description of the Warrants herein is a summary only and is subject to the specific attributes and detailed provisions of the Warrants to be set forth in the Warrant Indenture (as hereinafter defined) to be entered into between the Warrant Agent (as hereinafter defined) and the Corporation to be dated as of the Closing Date.  In case of any inconsistency between the description of the Warrants in this Agreement and the terms of the Warrants as set forth in the Warrant Indenture, the provisions of the Warrant Indenture shall govern.  The Units will separate at Closing (as hereinafter defined).

    In addition, the Corporation hereby grants the Agent an over-allotment option (the "‎Over-Allotment Option"), exercisable in whole or in part, at the sole discretion of the Agent, for a period of 30 days from and including the Closing Date, under which the Agent may purchase up to ‎an additional ‎15% of the number of Units sold pursuant to the Offering, being up to 428,700 Units (the "Additional ‎ Units"), at the Purchase Price, each such Additional Unit comprised of one Common Share (each an "Additional Offered Share" and, collectively, the "Additional Offered Shares") and one Warrant (an "Additional Warrant" and, collectively, the "Additional Warrants", to cover over-allotments, if any, and for market stabilization purposes. The Over-Allotment Option may be exercised by the Agent ‎to acquire Additional Units, Additional Offered Shares and/or Additional Warrants so long as the aggregate number of Additional Offered Shares and Additional Warrants which may be issued under the Over-Allotment Option does not exceed does not exceed 15% of the number of Offered Shares and Warrants, respectively, issued under the Offering.

    Upon and subject to the terms and conditions set forth herein, the Corporation hereby appoints the Agent, and the Agent hereby agree to act, as exclusive agents to the Corporation to arrange for the sale of the Offered Securities, on a "best effort" basis, to Purchasers (as hereinafter defined) resident in the Selling Jurisdictions (as hereinafter defined) and in such other jurisdictions as may be agreed to by the Corporation and the Agent, provided that the Offered Securities are lawfully offered and sold on a basis exempt from the prospectus, registration or similar requirements of such jurisdictions. The offer and sale of the Offered Securities is referred to as the "Offering". 

    
        1

    

    

    Unless the context otherwise requires, all references to: (i) the "Offering" shall be deemed to include the Over-Allotment Option; (ii) "Offered Securities" shall be deemed to include the Additional Securities; (iii) "Units" shall be deemed to include the Additional Units; (iv) "Offered Shares" shall include the Additional Offered Shares; and (v) "Warrants" shall include the Additional Warrants,  which may be issued pursuant to the Over-Allotment Option on the Option Closing Date (as hereinafter defined).

    The Corporation has prepared and filed with the British Columbia Securities Commission (the "Reviewing Authority") and the other Securities Commissions (as defined herein) in accordance with National Instrument 44-101 - Short Form Prospectus Distributions and National Instrument 44-102 - Shelf Distributions (collectively, the "Shelf Procedures"), a (final) short form base shelf prospectus dated June 7, 2021 relating to the offering of common shares, debt securities, subscription receipts, warrants and units of the Corporation with a total offering price in the aggregate of up to $50,000,000 (the "Base Prospectus") and has obtained from the Reviewing Authority a Decision Document (as defined herein) for the Base Prospectus for and on behalf of itself and each of the other Securities Commissions pursuant to National Policy 11-202 - Process for Prospectus Reviews in Multiple Jurisdictions ("NP 11-202"). The Offering will be made by way of a prospectus supplement to the Base Prospectus dated the date hereof (the "Prospectus Supplement") and filed in the Qualifying Jurisdictions (as defined below) pursuant to the Shelf Procedures.   

    The Agent will solicit offers in the Selling Jurisdictions. Offers to purchase the Units solicited by the Agent will be subject to acceptance by the Corporation and to the requirements of Applicable Securities Laws (as defined herein) or other applicable laws. The Corporation will have the sole right to accept offers to purchase Units and reserves the right to withdraw, cancel or modify the offer made pursuant to the Prospectus Supplement and may, in its absolute discretion, reject any proposed purchase of Units, in whole or in part.  For greater certainty, the Agent are under no obligation to purchase any Units

    In consideration of the services to be rendered by the Agent in connection with the Offering hereunder, the Corporation agrees to pay to the Agent at the Closing Time (as hereinafter defined) a cash commission equal to 7.0% of the gross proceeds of the Offering (the "Agent's Fee"). As additional compensation for the services rendered by the Agent in connection with the Offering, the Corporation shall issue to the Agent compensation warrants (the "Compensation Warrants") exercisable to purchase that number of Units (each, a "Compensation Unit") as is equal to 7.0% of the aggregate number of Units issued pursuant to the Offering.  Each Compensation Warrant will entitle the holder thereof to acquire one Compensation Unit at the Purchase Price, subject to adjustment in certain customary events, at any time prior to 5:00 p.m. (Vancouver time) on the date which is 24 months from the Closing Date. Each ‎Compensation Unit will consist of one Common Share (each, a "Compensation Unit Share") and one ‎common share purchase warrant of the Corporation (each, a "Compensation Unit Warrant"), with each‎ Compensation Unit Warrant exercisable to acquire one Common Share (each, a "Compensation Warrant ‎Share") at an exercise price of $1.76 per Compensation Warrant Share at any time for a period of 24 ‎months following the Closing Date, subject to adjustment in certain events. At the Closing Time, the Corporation shall execute and deliver to the Agent certificates evidencing the Compensation Warrants (the "Compensation Warrant Certificates") to which the Agent are entitled, in a form to be agreed upon by the Agent and the Corporation, each acting reasonably.  ‎

    
        2

    

    

    The Corporation shall also pay the Agent, at the Closing Time, a corporate finance fee in the amount of $50,000 plus GST (the "Corporate Finance Fee"). At the discretion of the Agent, the Corporate Finance Fee may be deducted from the gross proceeds of the Offering otherwise payable to the Corporation at the Closing Time. It is understood and agreed that: (i) the Agent and any Selling Firm shall not be required to conduct ‎‎a suitability review in respect of sales by the Corporation of the Units to any of the Purchasers ‎on the President's List (as defined herein); (ii) the Agent and any Selling Firm shall not be ‎obligated, and may, in their sole ‎discretion, refuse to process any subscription for Units ‎from any Purchasers on the President's List; and (iii) the Corporation shall indemnify and save harmless ‎the Agent, any Selling Firm ‎and any Indemnified Party (as defined herein) for and against all losses ‎relating to any sales of ‎ Units by the Corporation to any Purchasers ‎on the President's List. ‎

    The parties acknowledge that the Offered Securities, the Warrant Shares, the Compensation Warrants, the Compensation Units issuable upon exercise of the Compensation Warrants, and the Compensation Warrant Shares issuable upon exercise of the Compensation Unit Warrant, have not been and will not be registered under the U.S. Securities Act (as hereinafter defined) or any U.S. state securities laws and may not be offered or sold in the United States (as hereinafter defined) or to, or for the account or benefit of, U.S. Persons (as hereinafter defined), nor may the Warrants or the Compensation Warrants be exercised in the United States or by or on behalf of a U.S. Person, except in transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws in the manner specified in this Agreement, the U.S. Placement Memorandum and Schedule "A" hereto which is incorporated into and forms part of this Agreement. All actions to be undertaken by the Agent in the United States in connection with the matters contemplated herein will be undertaken through the U.S. Affiliate (as defined in Schedule "A" hereto).‎

    The terms and conditions relating to the purchase and sale of the Offered Securities are as follows:

    1 Definitions and Interpretation 

    (a) In this Agreement:

    ‎"Accredited Investor" means an accredited investor meeting one or more of the ‎criteria in Rule 501(a) of Regulation D;‎

    "affiliate" shall have the meaning ascribed thereto in the Business Corporations Act (British Columbia);

    "Agent's Counsel" means DLA Piper (Canada) LLP;

    "Agent's Expenses" has the meaning given to the term in Section 10;

    "Agent's Fee" has the meaning ascribed to such term on the second page of this Agreement;

    "Agreement" means this agency agreement, including all schedules hereto, as it may be amended, restated or supplemented;

    "Applicable Securities Laws" means the Securities Laws in each of the Qualifying Jurisdictions;

    "Auditors" means DeVisser Gray LLP, the auditors of the Corporation, or such other duly appointed and qualified auditor appointed by the Corporation from time-to-time;

    ‎"Base Prospectus" has the meaning given to that term on the second page of this ‎Agreement;‎

    
        3

    

    

    "Business" means the business carried on by the Corporation and the Subsidiaries as described in the Prospectus, including the development of therapeutics to improve the lives of patients with severe and life-altering diseases;

    "Business Data" means all data and personal information accessed, processed, collected, stored or disseminated by the Corporation or the Subsidiaries;

    "Business Day" means a day, other than a Saturday, a Sunday or a day on which chartered banks are not open for business in Toronto, Ontario or Vancouver, British Columbia;

    "Canadian Securities Regulators" means, collectively, the Securities Regulators in the Qualifying Jurisdictions;

    "Claims" has the meaning given to that term in Section 11(a)of this Agreement;

    "Closing" means the completion of the issue and sale by the Corporation of the Units pursuant to this Agreement;

    "Closing Date" means the date of Closing;

    "Closing Time" means 5:00 a.m. (Vancouver time) on the Closing Date, as applicable, or any other time on the Closing Date, as may be agreed to by the Corporation and the Agent, each acting reasonably;

    "Common Share" means one common share in the capital of the Corporation as presently constituted;

    "Compensation Unit" has the meaning ascribed to such term on the second page of this Agreement;

    "Compensation Unit Share" has the meaning ascribed to such term on the second page of this Agreement;

    "Compensation Unit Warrants" has the meaning ascribed to such term on the second page of this Agreement;

    "Compensation Warrant" has the meaning ascribed to such term on the second page of this Agreement;

    "Compensation Warrant Certificates" has the meaning ascribed to such term on the second page of this Agreement;

    "Compensation Warrant Share" has the meaning ascribed to such term on the second page of this Agreement;

    "Corporate Finance Fee" has the meaning ascribed to such term on the third page of this Agreement;

    "Corporation" means Bright Minds BioSciences Inc. and includes any successor corporation to or of the Corporation;

    "CSE" means the Canadian Securities Exchange;

    
        4

    

    

    "Debt Instrument" means any loan, bond, debenture, promissory note or other instrument evidencing indebtedness (demand or otherwise) for borrowed money or other liability, including any convertible debentures issued by the Corporation;

    ‎"Decision Document" means a receipt for the Base Prospectus issued by or on behalf of the ‎Securities Commissions in accordance with the Passport System;‎

    "distribution", "material change", "material fact" and "misrepresentation" shall have the respective meanings ascribed thereto in the Securities Act (British Columbia);

    "Documents Incorporated by Reference" means all financial statements, management information circulars, annual information forms, material change reports, Marketing Materials, business acquisition reports or other documents issued by the Corporation, whether before or after the date of this Agreement, that are required by Applicable Securities Laws to be incorporated by reference into the Prospectus;

    "Exempt Plans" means trusts governed by registered retirement savings plans, registered retirement income funds, registered disability savings plans,  deferred profit sharing plans, registered education savings plans and tax-free savings accounts,  each as defined in the Income Tax Act (Canada);

    "Financial Statements" means the financial statements of the Corporation included in the Documents Incorporated by Reference, including the notes to such statements and the related auditors' report on such statements, prepared in accordance with international financial reporting standards as in force at the applicable time;

    "Governmental Authority" means and includes, without limitation, any national, federal government, province, state, municipality or other political subdivision of any of the foregoing, any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government and any corporation or other entity owned or controlled (through stock or capital ownership or otherwise) by any of the foregoing and for greater certainty, includes, but is not limited to, Health Canada, the Securities Commissions, NASDAQ and the CSE;

    "Health Care Laws" means and includes, without limitation: (i) the United States Federal Food, Drug, and Cosmetic Act; (ii) all applicable supranational, foreign, federal, state, provincial, and local health care related fraud and abuse laws and regulations and all criminal laws relating to health care fraud and abuse, and (iii) any and all other applicable supranational, foreign, federal, state, provincial, and local laws relating to the manufacturing, development, testing, labeling, marketing, advertising, promotion, or distribution of medical devices, the billing, payment, or reimbursement of or for medical devices or medical procedures involving those devices, kickbacks, referrals, the hiring of employees or acquisition of services or supplies from those who have been excluded from government health care programs;

    "including" means including, without limitation;

    "Intellectual Property" means any of the following, as they exist anywhere in the world, whether registered or unregistered, all trade or brand names, business names, trademarks, service marks, copyrights, patents, patent rights, industrial designs, know-how (including trade secrets and other unpatented or unpatentable proprietary or confidential information, systems or procedures), software, inventions, designs and other industrial or intellectual property;

    
        5

    

    

    "Laws" means Applicable Securities Laws and all other statutes, regulations, statutory rules, orders, by-laws, codes, ordinances, decrees, the terms and conditions of any grant of approval, permission, authority or licence, or any judgment, order, decision, ruling, award, policy or guideline, of any Governmental Authority, and the term "applicable" with respect to such Laws and in the context that refers to one or more persons, means that such Laws apply to such person or persons or its or their business, undertaking, property or securities and emanate from a Governmental Authority, having jurisdiction over the person or persons or its or their business, undertaking, property or securities;

    "Licensed IP" means the Intellectual Property that is licensed to the Corporation and/or the Subsidiaries and material to the business of the Corporation and the Subsidiaries (and as described in the Prospectus) and that is owned by any person other than the Corporation;

    "Licenses" means all licences, permits, approvals, consents, certificates, registrations and authorizations (whether governmental, regulatory or otherwise), including without limitation, those administered by Health Canada or any other Governmental Authority;

    "Liens" means any encumbrance or title defect of whatever kind or nature, regardless of form, whether or not registered or registrable and whether or not consensual or arising by law (statutory or otherwise), including any mortgage, lien, charge, pledge or security interest, whether fixed or floating, or any assignment, lease, option, right of pre-emption, privilege, encumbrance, easement, servitude, right of way, restrictive covenant, right of use or any other right or claim of any kind or nature whatever which affects ownership or possession of, or title to, any interest in, or the right to use or occupy such property or assets;

    "Losses" has the meaning given to that term in Section 11(a) of this Agreement;

    "Marketing Materials" has the meaning ascribed thereto in NI 41-101 (as defined herein);

    "Material Adverse Effect"  means any change (including a decision to implement such a change made by the board of directors or by senior management who believe that confirmation of the decision of the board of directors is probable), event, violation, inaccuracy, circumstance, development or effect that is materially adverse to the business, assets (including intangible assets), capitalization, liabilities (contingent or otherwise), condition (financial or otherwise), prospects, Intellectual Property or results of operations of the Corporation and the Subsidiaries, taken as a whole, whether or not arising in the ordinary course of business;

    "Material Contract" means any material Debt Instrument, indenture, contract, commitment, agreement (written or oral), instrument, lease, joint operating agreement, option, joint venture agreement or other document, including license agreements and agreements relating to real property or the Intellectual Property, to which the Corporation or any Subsidiaries are a party or by which any one of them are bound;

    "Material Subsidiary" means any subsidiary of the Corporation which accounts for 10% of the assets of the Corporation on the consolidated audited financial statements for the year ended September 30, 2021;

    "NASDAQ" means the Nasdaq Capital Market;‎

    "NI 41-101" means National Instrument 41-101 - General Prospectus Requirements;

    "Offered Securities" has the meaning ascribed to such term on the first page of this Agreement;

    
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    "Offered Share" has the meaning ascribed to such term on the first page of this Agreement;

    "Offering" has the meaning ascribed to such term on the first page of this Agreement;

    "Offering Documents" means, collectively, the Prospectus, the U.S. Placement Memorandum, the Marketing Materials and any Supplementary Material;

    "Offshore Transaction" means an "offshore transaction" as that term is defined in Regulation S;

    "Passport System" means the system for review of prospectus filings set out in Multilateral Instrument 11-102 - Passport System and National Policy 11-202 - Process for Prospectus Reviews in Multiple Jurisdictions;

    "Permitted Liens" means any of the following that do not adversely affect the present use or value of the property affected thereby: (i) liens for taxes not yet due, (ii) other assessments and governmental charges not yet due, (iii) liens that can be (but have not yet been) filed by builders, mechanics, repairers or similar Persons in respect of services performed or goods provided in the ordinary course of business, (iv) easements, covenants, rights of way and other restrictions that are registered as of the date of this Agreement, and (v) transfer restrictions imposed on securities by applicable Law;

    "Person" means an individual, a firm, a corporation, a syndicate, a partnership, a trust, an association, an unincorporated organization, a joint venture, an investment club, a government or an agency or political subdivision thereof and every other form of legal or business entity of any nature or kind whatsoever;

    "President's List" means a list of Purchaser's provided by the Corporation for an amount to be agreed upon by the Agent and the Corporation;

    "Prospectus" means, collectively, the Base Prospectus and the Prospectus Supplement, including the Documents Incorporated by Reference;

    "Prospectus Supplement" has the meaning ascribed to such term on the second page of this Agreement;

    "Principal Regulator" means the British Columbia Securities Commission;

    "Public Record" means all information filed by or on behalf of the Corporation with a securities commission that is accessible to the public on www.sedar.com;

    "Purchasers" means, collectively, each of the purchasers of the Offered Securities pursuant to the Offering including, if applicable, the Agent; 

    "Qualifying Jurisdictions" means all of the provinces of Canada, other than Quebec;

    'Regulation D" means Regulation D adopted by the SEC under the U.S. Securities Act;

    "Regulation S" means Regulation S adopted by the SEC under the U.S. Securities Act;

    "Rule 144A" means Rule 144A adopted by the SEC under the U.S. Securities Act;

    "SEC" means the United States Securities and Exchange Commission;

    
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    "Securities Commissions" means, collectively, the Principal Regulator and the securities regulatory authorities in the Qualifying Jurisdictions; 

    "Securities Laws" means, unless the context otherwise requires, all applicable securities laws in each of the Qualifying Jurisdictions and the applicable securities laws of all other jurisdictions other than the Qualifying Jurisdictions in which the Offered Securities are offered for sale, as applicable, and the respective regulations made thereunder, together with applicable published fee schedules, prescribed forms, policy statements, national or multilateral instruments, orders, blanket rulings and other regulatory instruments of the securities regulatory authorities in such jurisdictions; 

    "Securities Regulators" means, collectively, the Securities Commissions, the CSE, NASDAQ, SEC and the securities regulators or other securities regulatory authorities in any jurisdictions in which the Offered Securities are offered for sale; 

    "Selling Firm" has the meaning given to the term in Section 2(f);

    ‎"Selling Jurisdictions" means, collectively, each of the Qualifying Jurisdictions and such states in the United States and any other jurisdictions outside of Canada and the United States as mutually agreed to by the Corporation and the Agent;

    "Shelf Procedures" has the meaning ascribed to such term on the first page of this ‎Agreement;‎

    "Standard Listing Conditions" has the meaning given to the term in Section 4(a)(iv);

    "Subsequent Disclosure Documents" means any financial statements, management information circulars, annual information forms, material change reports, Marketing Materials, business acquisition reports or other documents issued by the Corporation after the date of this Agreement that are required by Applicable Securities Laws to be incorporated by reference in the Prospectus;

    "Subsidiaries" means PsilocybinLabs Ltd‎., Bright Minds Biosciences LLC and Bright Minds Bioscience Pty. Ltd;

    "Supplementary Material" means, collectively, any amendment to the Prospectus and any amendment or supplemental prospectus or ancillary materials that may be filed by or on behalf of the Corporation under Applicable Securities Laws relating to the distribution of the Offered Securities and any supplement to the U.S. Placement Memorandum;

    "Taxes" has the meaning given to the term in Section 6(z);

    "Transaction Documents" has the meaning given to the term in Section 6(i);

    "United States" or "U.S." means, as the context requires, the United States of America, its territories and possessions, any State of the United States, and/or the District of Columbia;

    ‎"U.S. Affiliate" of the Agent means the U.S. registered broker-deal affiliate of the Agent;‎

    ‎"U.S. Exchange Act" means the United States Exchange Act of 1934, as amended;‎

    "U.S. Person" means a U.S. person as that term is defined in Rule 902(k) of Regulation S‎;

    
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    ‎"U.S. Placement Memorandum" means the U.S. private placement memorandum ‎delivered together with the Prospectus to offerees and Purchasers of the ‎Offered Securities in the United States or to or for the account or benefit of a U.S. Person ‎or a person in the United States, including any Supplementary Material thereto; ‎

    "U.S. Securities Act" means the United States' Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder;

    "Warrant" has the meaning ascribed to such term on the first page of this Agreement;

    "Warrant Agent" means Computershare Trust Company of Canada;

    "Warrant Indenture" means the warrant indenture to be entered into on the Closing Date between the Corporation and the Warrant Agent; and

    "Warrant Share" has the meaning ascribed to such term on the first page of this Agreement.

    (b) Prospectus Defined Terms.  Capitalized terms used but not defined herein have the meanings ascribed to them in the Prospectus.

    (c) Divisions and Headings.  The division of this Agreement into Sections, subsections, paragraphs and other subdivisions and the insertion of headings are for convenience of reference only and shall not affect the construction or interpretation of this Agreement. Unless something in the subject matter or context is inconsistent therewith, references herein to Sections, subsections, paragraphs and other subdivisions are to Sections, subsections, paragraphs and other subdivisions of this Agreement.

    (d) Number and Gender.  All words and personal pronouns relating thereto shall be read and construed as the number and gender of the party or parties referred to in each case required and the verb shall be construed as agreeing with the required word and/or pronoun.

    (e) Currency.  Any reference in this Agreement to $ or to dollars shall refer to the lawful currency of Canada, unless otherwise specified.

    (f) Knowledge.  The phrases "knowledge of the Corporation" or "to the Corporation's knowledge" or similar expressions, mean the actual knowledge of Ian McDonald, President and Chief Executive Officer, Ryan Cheung, Chief Financial Officer of the Corporation after due inquiry.

    2 Filing of Prospectus Supplement; The Offering

    (a) The Corporation shall comply with the Shelf Procedures to prepare and file, on the date ‎hereof, the Prospectus Supplement with the Securities Commissions in each of the ‎Qualifying Jurisdictions.‎

    (b) The Corporation shall comply with the Securities Laws with respect to the filing of the ‎template version of any Marketing Materials that have been approved by the ‎Corporation and the Agent in the manner required under the Securities Laws (with any ‎comparables and all disclosure relating to such comparables being redacted).‎

    (c) Until the distribution of the Units has been completed, the Corporation will use commercially ‎reasonable efforts to promptly take, or cause to be taken, all additional steps and ‎proceedings that are in its power to take or cause to be taken and which may from ‎time to time be required under the Applicable Securities Laws to continue to qualify the ‎distribution of the Units in the Qualifying Jurisdictions and the grant of the Over-‎Allotment Option to the Agent or, if the Units or the Over-Allotment Option have, ‎for any reason, ceased to so qualify, to again so qualify them.‎

    
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    (d) Prior to the filing of the Prospectus Supplement and any Supplementary Material, the Corporation ‎shall have permitted the Agent to review each of the Prospectus Supplement and such ‎Supplementary Material and shall have allowed the Agent to conduct any due diligence ‎investigations which the Agent reasonably requires in order to fulfil their obligations as an agent ‎under Securities Laws and in order to enable them to responsibly execute the certificate in the ‎Prospectus Supplement and such Supplementary Material required to be executed by it where ‎applicable.  Following the filing of the Prospectus Supplement and prior to the completion of the ‎distribution of the Units, the Corporation shall allow the Agent to conduct any due diligence ‎investigations which the Agent reasonably require to confirm as at any date that they continue to ‎have reasonable grounds for the belief that the Prospectus does not contain a misrepresentation as ‎at such date.‎

    (e) The sale of the Offered Securities to the Purchasers shall be effected in a manner that is in compliance with Securities Laws and upon the terms set out in the Prospectus and in this Agreement.  The Agent will use best efforts to arrange for Purchasers for the Offered Securities in the Selling Jurisdictions in connection with the Offering.

    (f) The Corporation agrees that the Agent shall have the right to invite one or more investment dealers (each, a "Selling Firm") to form a selling group to participate in the soliciting of offers to purchase the Offered Securities. The Agent have the exclusive right to control all compensation arrangements between the members of the selling group.  The Corporation grants all of the rights and benefits of this Agreement to any Selling Firm so appointed by the Agent and appoints the Agent as trustee of such rights and benefits for such Selling Firms, and the Agent hereby accept such trust and agree to hold such rights and benefits for and on behalf of such Selling Firms. 

    (g) The Agent shall ensure that any Selling Firm appointed pursuant to the provisions of subsection 2(f), if any, shall: (i) be compensated by the Agent from their compensation hereunder; and (ii) agree to comply with the covenants and obligations given by the Agent herein.

    (h) The Agent have delivered one copy of the Prospectus (together with any Supplementary Material, if any) to all persons resident in the Selling Jurisdictions who are to acquire the Offered Securities.

    (i) The Corporation and the Agent covenant and agree:

    (i) not to provide any potential investor of Offered Securities with any Marketing Materials unless a template version of such Marketing Materials has been filed by the Corporation with the Securities Commissions on or before the day such Marketing Materials are first provided to any potential investor of Offered Securities;

    (ii) not to provide any potential investor with any materials or information in relation to the Offering or the Corporation other than: (A) such Marketing Materials that have been approved and filed in accordance with this Section 2; (B) the Prospectus or any Supplementary Material; and (C) any "standard term sheets", as defined in NI 41-101, approved in writing by the Corporation and the Agent; and

    
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    (iii) that any Marketing Materials approved and filed in accordance with this Section 2 and any standard term sheets approved in writing by the Corporation and the Agent shall only be provided to potential investors in the Selling Jurisdictions where the provision of such Marketing Materials or standard term sheets does not contravene Applicable Securities Laws.

    (j) The Corporation and the Agent acknowledge that the Offered Securities have not been and will not be registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. Persons, nor may the Warrants or the Compensation Warrants be exercised in the United States or by or on behalf of a U.S. Person, except pursuant to exemptions from the registration requirements of the U.S. Securities Act and the applicable laws of any state of the United States in the manner specified in this Agreement. 

    3 Distribution and Certain Obligations of the Agent. 

    (a) The Agent have complied with and shall, and shall require any Selling Firm to agree to, comply with the Securities Laws in connection with the distribution of the Offered Securities and shall offer the Offered Securities upon the terms and conditions set out in the Prospectus and this Agreement.  The Agent have and shall, and shall require any Selling Firm to, directly offer for sale to the public and sell the Offered Securities only in those jurisdictions where they may be lawfully offered for sale.  The Agent shall (i) use best efforts to complete and cause each Selling Form to complete the distribution of the Offered Securities as soon as reasonably practicable; and (ii) promptly notify the Corporation when, in their opinion, the Agent and the Selling Firms have ceased distribution of the Offered Securities and provide a breakdown of the number of Offered Securities distributed in each of the Selling Jurisdictions (and any other applicable jurisdiction where the Offered Securities have been distributed) where such breakdown is required for the purpose of calculating fees payable to Securities Regulators.  

    (b) The Agent shall, and shall require any Selling Firm to agree to, distribute the Offered Securities in a manner which complies with and observes all applicable laws and regulations, including, for greater certainty, all Securities Laws in each jurisdiction into and from which they may offer to sell the Offered Securities or distribute the Prospectus or any Supplementary Material in connection with the distribution of the Offered Securities and will not, directly or indirectly, offer, sell or deliver any Offered Securities or deliver the Prospectus or any Supplementary Material to any person in any jurisdiction, subject to Section 3(d) below, other than in the Selling Jurisdictions unless agreed to in accordance with Section 3(a) hereof and completed in a manner which will not require the Corporation to comply with the registration, prospectus, filing, continuous disclosure or other similar requirements under the applicable Securities Laws of such other jurisdictions or pay any additional governmental filing fees which relate to such other jurisdictions. 

    
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    (c) For the purposes of this Section 3, the Agent and any Selling Firm shall be entitled to assume that the Offered Securities are qualified for distribution in any Qualifying Jurisdiction where the Decision Document has been obtained or deemed to have been obtained from the Canadian Securities Regulators.

    (d) The Agent will offer for sale and sell the Offered Securities in the United States, or to ‎or for the account or benefit of a U.S. Person or a person in the United States, through the U.S. Affiliate, as ‎U.S. placement agent, pursuant to applicable exemptions from the registration ‎requirements of the U.S. Securities Act. Any offer for sale or sale of the Offered ‎Securities in the United States, or to or for the account or benefit of a U.S. Person or a ‎person in the United States, will be made pursuant to the U.S. Placement ‎Memorandum and in accordance with Schedule "A" to this Agreement.

    4 Deliveries of Prospectus and Related Matters

    (a) The Corporation shall deliver to the Agent:

    (i) a copy of the Prospectus Supplement and the Base Prospectus signed and certified if and as required by Securities Laws, concurrently with the filing of the Prospectus Supplement;

    (ii) a copy of any other document filed with, or delivered to, Securities Regulators under applicable Securities Laws in connection with the Offering;

    (iii) a "long-form" comfort letter dated the date of the Prospectus Supplement, in form and substance satisfactory to the Agent, acting reasonably, addressed to the Agent and the directors of the Corporation from the Auditors with respect to financial and accounting information relating to the Corporation contained in the Prospectus, which letter shall be based on a review by the Auditors within a cut-off date of not more than two Business Days prior to the date of the letter and which letter shall be in addition to the Auditors' consent letter and any comfort letter addressed to the Canadian Securities Regulators; and

    (iv) prior to filing of the Prospectus Supplement with Canadian Securities Regulators, copies of correspondence indicating that the application for the listing and posting for trading on the CSE and NASDAQ of (i) the Offered Shares; (ii) the Warrant Shares, (iii) the Compensation Unit Shares issuable upon exercise of the Compensation Warrants, and (iv) the Compensation Warrant Shares issuable upon exercise of the Compensation Unit Warrants, has been made, subject only to satisfaction by the Corporation of customary post-closing filings required by the CSE and NASDAQ (the "Standard Listing Conditions").

    (b) The Corporation has delivered to the Agent signed copies of all Supplementary Material, if any.  The Corporation has delivered to the Agent, with respect to such Supplementary Material or Subsequent Disclosure Document, to the extent that such Supplementary Material contains any financial and accounting information, a comfort letter substantially similar to that referred to in subsection 4(a)(iii).

    (c) The Corporation confirms that it has or will deliver to the Agent copies of the Prospectus signed and the U.S. Placement Memorandum as required by Applicable Securities Laws. 

    
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    (d) Each delivery of an Offering Document by the Corporation to the Agent shall constitute the ‎consent of the Corporation to the use by the Agent and the Selling Firms, if any, of such Offering Document in connection with the Offering of the ‎Units and shall constitute the representation and warranty of the Corporation to the ‎Agent that, at the respective times of such delivery:‎

    (i) all information and statements contained therein (except information and ‎statements relating solely to the Agent and provided by the Agent in writing ‎expressly for inclusion therein):‎

    (A) are true and correct in all material respects and contain no misrepresentation; ‎and

    (B) constitute full, true and plain disclosure of all material facts relating to the ‎Units and to the Corporation and the Subsidiaries considered as a whole;‎

    (ii) such document does not contain an untrue statement of a material fact or omit to ‎state a material fact (except information and statements relating to the Agent ‎and furnished by the Agent for use in the Offering Document) required to ‎be stated therein or necessary to make the statements therein not misleading ‎in light of the circumstances in which they were made; and

    (iii) such document (except information and statements relating to the Agent and ‎furnished by the Agent for use in the Offering Document) complies in all ‎material respects with Securities Laws at the time filed.‎

    (e) During the period commencing on the date hereof and until completion of the distribution of the Offered Securities, the Corporation will promptly provide to the Agent drafts of any press releases of the Corporation for review by the Agent, and each such press release shall comply with Rule 135c or Rule 135e of the U.S. Securities Act. 

    (f) The Corporation has filed with the CSE all necessary documents and shall take or cause to be taken all necessary steps to ensure that, prior to the filing of the Prospectus Supplement with Canadian Securities Regulators, the Corporation has obtained all necessary approvals for: (i) the Offered Shares; (ii) the Warrant Shares; (iii) the Compensation Unit Shares issuable upon exercise of the Compensation Warrants; and (iv) the Compensation Warrant Shares issuable upon exercise of the Compensation Unit Warrants, to be conditionally listed on the CSE and NASDAQ, subject only to the Standard Listing Conditions. 

    5 Material Changes

    (a) The Corporation will promptly inform the Agent in writing during the period prior to the completion of the distribution of the Offered Securities of the full particulars of:

    (i) any material change (actual, anticipated, threatened, contemplated, or proposed by, to, or against) in the condition (financial or otherwise), assets, liabilities (contingent or otherwise), business, affairs, operations, properties, capital or prospects of the Corporation and the Subsidiaries, taken as a whole;

    
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    (ii) any material fact that has arisen or has been discovered and would have been required to have been stated in any of the Offering Documents had that fact arisen or been discovered on, or prior to, the date of the Offering Documents, as the case may be;

    (iii) any legislative, regulatory or administrative policy or guideline changes which, if implemented could have a material effect upon the Corporation's operations or the manner in which the Corporation carries on business; and

    (iv) any change in any material fact or any misstatement of any material fact contained in any of the Offering Documents, or the existence of any new material fact, in each case which is of a nature as to render any of the Offering Documents misleading or untrue in any material respect or would result in a misrepresentation therein.

    (b) The Corporation shall comply with the prospectus amendment requirements of Section 6.6 of NI 41-101 and Section 57 of the Securities Act (Ontario), and the Corporation will prepare and file promptly any Supplementary Material which may be necessary and will otherwise comply with all legal requirements necessary to continue to qualify the Offered Securities for distribution in each of the Qualifying Jurisdictions.

    (c) In addition to the provisions of subsections 5(a) and 5(b) hereof, the Corporation shall in good faith discuss with the Agent any change, event or fact contemplated in subsections 5(a) and 5(b) which is of such a nature that there is or could be reasonable doubt as to whether notice should be given to the Agent under subsection 5(a) hereof and shall consult with the Agent with respect to the form and content of any Supplementary Material proposed to be filed by the Corporation, it being understood and agreed that no such amendment or other Supplementary Material shall be filed with any Securities Regulator prior to the review thereof by the Agent.

    (d) If during the period of distribution of the Offered Securities there shall be any change in applicable Securities Laws which, in the opinion of the Agent, acting reasonably, requires the filing of any Supplementary Material, upon written notice from the Agent, the Corporation shall, to the satisfaction of the Agent, acting reasonably, promptly prepare and file any such Supplementary Material with the appropriate Securities Regulators where such filing is required.

    6 Representations and Warranties of the Corporation 

    The Corporation represents and warrants to the Agent and the Purchasers, and acknowledges that they are relying upon such representations and warranties and covenants in purchasing the Offered Securities, as follows:

    (a) each of the Corporation and the Subsidiaries has been duly incorporated and organized and is validly ‎existing as a corporation under the laws of the jurisdiction in which it was incorporated, ‎amalgamated or continued, as the case may be, and no steps or proceedings have been taken ‎by any person, voluntary or otherwise, requiring or authorizing the dissolution or winding up of ‎the Corporation or the Subsidiaries;‎

    (b) each of the Corporation and the Subsidiaries are duly qualified to carry on its business in each ‎jurisdiction in which the conduct of its business or the ownership, leasing or operation of its ‎property and assets requires such qualification (except for such jurisdictions where the failure to ‎be so qualified would not result in a Material Adverse Effect) and has all requisite corporate ‎power and authority to conduct its business and to own, lease and operate its properties and ‎assets and to execute, deliver and perform its obligations under this Agreement, the Warrant ‎Indenture, the Compensation Warrant Certificates and any other document, filing, instrument or ‎agreement delivered in connection with the Offering;‎

    
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    (c) neither the Corporation nor the Subsidiaries are (i) in violation of its constating documents or (ii) to the knowledge of the Corporation, in default of the performance or observance of any obligation, agreement, covenant or condition contained in any contract, indenture, trust deed, joint venture, mortgage, loan agreement, note, lease or other agreement or instrument to which it is a party or by which it or its property may be bound, except in the case of clause (ii) for any such violations or defaults that would not result in a Material Adverse Effect;

    (d) the Corporation has no Material Subsidiaries, and it has no direct or indirect subsidiaries other than the Subsidiaries, nor any investment in any person which, for the year ended September 30, 2021 or which, for the financial year ended September 30, 2022, is expected to account for, more than five percent of the consolidated assets or consolidated revenues of the Corporation or would otherwise be material to the business and affairs of the Corporation on a consolidated basis. The Corporation owns, directly or indirectly, all of the issued and outstanding shares of the Subsidiaries, all of the issued and outstanding shares of the Subsidiaries are issued as fully paid and non-assessable shares, free and clear of all Liens whatsoever, and no person, firm or corporation has any agreement, option, right or privilege (whether pre-emptive or contractual) capable of becoming an agreement, for the purchase from the Corporation or the Subsidiaries of any interest in any of the shares in the capital of the Subsidiaries;

    (e) the Corporation and the Subsidiaries (i) each conducted and have each been conducting their business in compliance in all material respects with all applicable Laws of each jurisdiction in which its business is carried on or in which its services are provided and has not received a notice of non-compliance, nor knows of, nor has reasonable grounds to know of, any facts that could give rise to a notice of non-compliance with any such Laws, (ii) are not in breach or violation of any judgment, order or decree of any Governmental Authority having jurisdiction over the Corporation or the Subsidiaries, as applicable, and (iii) hold all, and are not in breach of any, Licenses that enable its business to be carried on as now conducted, and all such Licenses are valid and subsisting and in good standing, except in each case where the failure to be in such compliance or to hold such Licenses could not reasonably be expected to result in a Material Adverse Effect;

    (f) each of the Corporation and each Subsidiaries are the absolute legal and beneficial owner, and has good and valid title to, all of the material property or assets thereof as described in the Offering Documents, and no other material property or assets are necessary for the conduct of the business of the Corporation or the Subsidiaries as currently conducted, (B) the Corporation does not know of any claim or the basis for any claim that might or could materially and adversely affect the right of the Corporation or the Subsidiaries to use, transfer or otherwise exploit such property or assets, and (C) other than in the ordinary course of business and as disclosed in the Offering Documents, neither the Corporation nor the Subsidiaries have any responsibility or obligation to pay any commission, royalty, licence fee or similar payment to any person with respect to the property and assets thereof;

    
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    (g) the authorized and issued share capital of the Corporation conforms to the description thereof contained in the Offering Documents. All of the issued and outstanding Common Shares have been duly and validly authorized and issued as fully paid and non-assessable, and none of the outstanding shares of the Corporation were issued in violation of the pre-emptive or similar rights of any securityholder of the Corporation;

    (h) all Material Contracts to which the Corporation and the Subsidiaries, are a party are in good standing and in full force and effect and no material default or breach exists in respect of any of them on the part of any of the parties to them and, to the knowledge of the Corporation, no event has occurred which, after the giving of notice or the lapse of time or both would constitute such a default or breach and which would have a Material Adverse Effect; the foregoing includes all the presently outstanding Material Contracts entered into by the Corporation and the Subsidiaries in the course of carrying out their operations and all operations related thereto;

    (i) at the Closing Time, all necessary corporate action will have been taken by the Corporation to: (i) ‎authorize the execution, delivery and performance of this Agreement, the Warrant Indenture and ‎the Compensation Warrant Certificates (the "Transaction Documents"); (ii) grant the Over-Allotment Option, and (iii) validly ‎create, issue and sell the Units and the Compensation Warrants and the Warrant Shares issuable ‎upon exercise of the Warrants and the Compensation Warrant Shares issuable on exercise of the ‎Compensation Warrants, as applicable;‎

    (j) the terms and the number of options to purchase Common Shares granted by the Corporation currently ‎outstanding conforms to the description thereof contained in the Offering Documents and, other ‎than as contemplated by this Agreement, and (i) options granted to directors, officers, ‎employees and consultants of the Corporation to purchase Common Shares, and (ii) common ‎share purchase warrants, in each case as described in the Offering Documents, no person, firm ‎or corporation has any agreement or option, right or privilege (contractual or otherwise) capable ‎of becoming an agreement (including convertible or exchangeable securities and warrants) for ‎the purchase or acquisition from the Corporation or any Subsidiaries of any interest in any ‎Common Shares or other securities of the Corporation or any Subsidiaries whether issued or ‎unissued;‎

    (k) there are no contracts or agreements between either the Corporation or a Subsidiaries and any person ‎granting such person the right to require the Corporation or the Subsidiaries to file a registration ‎statement under U.S. Securities Laws or, except as contemplated by this Agreement, a ‎prospectus under Applicable Securities Laws, with respect to any securities of the Corporation or ‎any Subsidiaries owned or to be owned by such person that require the Corporation or a ‎Subsidiaries to include such securities in the securities qualified for distribution under the Offering ‎Documents;‎

    (l) except as described in the Offering Documents, there are no voting trusts or agreements, shareholders' ‎agreements, buy sell agreements, rights of first refusal agreements, agreements relating to ‎restrictions on transfer, pre-emptive rights agreements, tag-along agreements, drag-along ‎agreements or proxies relating to any of the securities of the Corporation or the Subsidiaries, to ‎which the Corporation or the Subsidiaries is a party;‎

    
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    (m) the Common Shares to be issued as described in this Agreement and in the Offering Documents ‎‎(including, for greater certainty, the Warrant Shares , the Compensation Unit Shares and the Compensation Warrant Shares) have been, or prior to the Closing Time will be, duly ‎created and reserved for issuance and, when issued, delivered and paid for in full, will be validly ‎issued and fully paid shares in the capital of the Corporation, and will not have been issued in ‎violation of or subject to any pre-emptive rights or contractual rights to purchase securities ‎issued by the Corporation;‎

    (n) at the Closing Time the Corporation shall have taken all necessary corporate action to allot and ‎authorize the issuance of the Offered Shares, the Warrants and the Compensation Warrants and, ‎upon the due exercise of the Warrants, the Warrant Shares, and upon due exercise of the Compensation ‎ Warrants, the Compensation Unit Shares and Compensation Unit Warrants,  and upon due exercise of the Compensation ‎Unit Warrants, the Compensation Warrant Shares, all in accordance with their ‎respective provisions thereof, and such shares will be validly issued as fully paid and non-assessable Common Shares;‎

    (o) each of the Transaction Documents has been, or at ‎the Closing Time will be, duly authorized, executed and delivered by the Corporation and ‎constitutes a legal, valid and binding obligation of the Corporation, enforceable against the ‎Corporation in accordance with its terms, subject to bankruptcy, insolvency, fraudulent ‎conveyance, reorganization, moratorium or similar laws affecting creditors' rights generally, ‎general principles of equity, and the qualifications that equitable remedies may only be granted ‎in the discretion of a court of competent jurisdiction and except that rights of indemnity, ‎contribution, waiver and the ability to sever unenforceable terms may be limited under applicable ‎Laws;‎

    (p) no authorization, approval, consent, licence, permit, order or filing of, or with, any Government ‎Authority or court, domestic or foreign, (other than those which have already been obtained or ‎will be obtained prior to the Closing Date and except for post-closing filings to be made with the ‎CSE and post-closing distribution reports to be filed and other post-closing filings to be made ‎with certain securities regulatory authorities) is required for the valid sale and delivery of the ‎Units or for the execution and delivery or performance of the Transaction Documents by the Corporation;‎

    (q) each of the execution and delivery of the Transaction Documents, the performance by the Corporation of its obligations hereunder and thereunder, the sale of the Units hereunder by the Corporation, the granting of the Over-Allotment Option by the Corporation and the consummation of the transactions contemplated in this Agreement, (i) do not and will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under (whether after notice or lapse of time or both), (A) any statute, rule, regulation or Law applicable to the Corporation or the Subsidiaries; (B) the notice of articles, articles, constating documents or resolutions of the directors or shareholders of the Corporation or the Subsidiaries; (C) any mortgage, note, indenture, contract, agreement, joint venture, partnership, instrument, lease or other document to which the Corporation or the Subsidiaries are a party or by which it is bound; or (D) any judgment, decree or order binding the Corporation or the Subsidiaries or the property or assets thereof, except where such conflict, breach, violation or default would not result in a Material Adverse Effect; and (ii) do not affect the rights, duties and obligations of any parties to any mortgage, note, indenture, contract, agreement, joint venture, partnership, instrument, lease or other document to which the Corporation or the Subsidiaries are a party or by which it is bound (including, for greater certainty, any such agreements relating to the Investments), nor give a party the right to terminate any mortgage, note, indenture, contract, agreement, joint venture, partnership, instrument, lease or other document to which the Corporation or the Subsidiaries are a party or by which it is bound, by virtue of the application of terms, provisions or conditions therein, except where those rights, duties or obligations, or rights to terminate, are affected in a manner that would not result in a Material Adverse Effect;

    
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    (r) the Corporation is in compliance in all respects with its timely and continuous disclosure obligations under the securities laws of the Qualifying Jurisdictions and the policies, rules and regulations of the CSE and NASDAQ;

    (s) the Financial Statements have been prepared in accordance with international financial reporting ‎standards and present fully, fairly and correctly in all material respects, the financial condition of ‎the Corporation and its Subsidiaries as at the dates thereof and the results of the operations and ‎the changes in the financial position of the Corporation for the periods then ended, on a basis ‎consistent throughout the periods indicated and in accordance with the books and records of the ‎Corporation;‎

    (t) the Financial Statements (i) comply with the requirements of Applicable Securities Laws, (ii) are, ‎in all material respects, consistent with the books and records of the Corporation, (iii) contain and ‎reflect all material adjustments for the fair presentation of the results of operations and the ‎financial condition of the business of the Corporation for the periods covered thereby, (iv) ‎contain and reflect adequate provision or allowance for all reasonably anticipated liabilities, ‎expenses and losses of the Corporation, and (v) do not omit to state any material fact that is ‎required by generally accepted accounting principles or by applicable Law to be stated or ‎reflected therein or which is necessary to make the statements contained therein not misleading, ‎and there has been no material change in accounting policies or practices of the Corporation since ‎September 30, 2021, except as has been disclosed in the Prospectus. There are no "non-GAAP ‎financial measures" (as such term is defined by Applicable Securities Laws) contained in or ‎incorporated by reference into the Prospectus;‎

    (u) to the knowledge of the Corporation, the Auditors are independent public accountants as ‎required under the Applicable Securities Laws and there has never been a reportable event ‎‎(within the meaning of National Instrument 51-102 - Continuous Disclosure Obligations) between ‎the Corporation and such auditors or, to the knowledge of the Corporation, any former auditors ‎of the Corporation;‎

    (v) subject to the exemption included in Part 6 of National Instrument 52-110 - Audit Committees ("NI 52-110"), ‎the responsibilities and composition of the Corporation's audit committee comply with NI 52-‎‎110;‎

    (w) the Corporation maintains a system of internal accounting controls sufficient to provide reasonable ‎assurance that: (i) transactions are executed in all material respects in accordance with ‎management's general or specific authorization; (ii) transactions are recorded as necessary to ‎permit preparation of financial statements in conformity with international financial reporting ‎standards and to maintain accountability for assets; and (iii) access to assets is permitted only ‎in accordance with management's general or specific authorization; and (iv) the recorded ‎accountability for assets is compared with the existing assets at reasonable intervals and ‎appropriate action is taken with respect to any differences;‎

    
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    (x) the Corporation maintains disclosure controls and procedures and internal control over financial reporting ‎as those terms are defined in National Instrument 52-109 Certification of Disclosure of Issuer's Annual and Interim Filings and as at September 30, 2021, such controls were ‎effective. Except as disclosed in the Offering Documents since the end of the Corporation's ‎most recent audited fiscal year, the Corporation is not aware of any material weakness in the ‎Corporation's internal control over financial reporting (whether or not remediated) or in the ‎Corporation's internal control over financial reporting that has materially affected or is reasonably ‎likely to materially affect the Corporation's internal control over financial reporting;‎

    (y) except as disclosed in the Offering Documents, none of the directors, executive officers or ‎shareholders who beneficially own, directly or indirectly, or exercise control or direction over, ‎more than 10% of the outstanding Common Shares on a fully-diluted basis or any known ‎associate or affiliate of any such person, had or has any material interest, direct or indirect, in any ‎transaction or any proposed transaction (including, without limitation, any loan made to or by ‎any such person) with the Corporation which, as the case may be, materially affects, is material to ‎or will materially affect the Corporation on a consolidated basis;

    (z) all taxes (including income tax, capital tax, payroll taxes, employer health tax, workers' compensation ‎payments, property taxes, custom and land transfer taxes), duties, royalties, levies, imposts, ‎assessments, deductions, charges or withholdings and all liabilities with respect thereto including ‎any penalty and interest payable with respect thereto (collectively, "Taxes") due and payable by ‎the Corporation and its Subsidiaries have been paid, except where the failure to pay Taxes would ‎not have a Material Adverse Effect. All tax returns, declarations, remittances and filings required ‎to be filed by the Corporation and its Subsidiaries have been filed with all appropriate authorities ‎and all such returns, declarations, remittances and filings are complete and accurate and no ‎material fact or facts have been omitted therefrom which would make any of them misleading, ‎except where the failure to file such documents would not have a Material Adverse Effect. To the ‎knowledge of the Corporation, no examination of any tax return of the Corporation or the ‎Subsidiaries is currently in progress and there are no issues or disputes outstanding with any ‎Governmental Authority respecting any Taxes that have been paid, or may be payable, by the ‎Corporation or its Subsidiaries, except where such examinations, issues or disputes would not ‎have a Material Adverse Effect;‎

    (aa) the statistical, industry and market related data included in the Offering Documents are derived from ‎sources which the Corporation reasonably believes to be accurate, reasonable and reliable, and ‎such data agrees with the sources from which it was derived;‎

    (bb) since the respective dates as of which information is given in the Offering Documents, except as ‎otherwise stated therein or contemplated thereby, there has not been: (i) any material change in ‎the condition (financial or otherwise), or in the earnings, business, affairs, capital, prospects, ‎operations or management of the Corporation or the Subsidiaries, whether or not arising in the ‎ordinary course of business from that set forth therein; (ii) any transaction entered into by the ‎Corporation or the Subsidiaries, other than in the ordinary course of business, that is material to ‎the Corporation; or (iii) any dividend or distribution of any kind declared, paid or made by the ‎Corporation or the Subsidiaries on shares in the capital of the Corporation or any of the Subsidiaries, as ‎applicable;‎

    
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    (cc) no material labour dispute with current and former employees of the Corporation or its Subsidiaries exists, ‎or, to the knowledge of the Corporation, is imminent and the Corporation is not aware of any ‎existing, threatened or imminent labour disturbance by the employees of any of the principal ‎suppliers, manufacturers or contractors of the Corporation or the Subsidiaries that would have a ‎Material Adverse Effect; ‎

    (dd) no union has been accredited or otherwise designated to represent any employees of the Corporation or ‎its Subsidiaries and, to the knowledge of the Corporation, no accreditation request or other ‎representation question is pending with respect to the employees of the Corporation or its ‎Subsidiaries and no collective agreement or collective bargaining agreement or modification ‎thereof has expired or is in effect in any of the facilities of the Corporation or its Subsidiaries and ‎none is currently being negotiated by the Corporation or its Subsidiaries;‎

    (ee) other than usual and customary health and related benefit plans for employees, the Prospectus ‎discloses to the extent required by the Applicable Securities Laws to be disclosed in the ‎Prospectus each material plan for retirement, bonus, stock purchase, profit sharing, stock ‎option, deferred compensation, severance or termination pay, insurance, medical, hospital, ‎dental, vision care, drug, sick leave, disability, salary continuation, legal benefits, unemployment ‎benefits, vacation, incentive or otherwise contributed to, or required to be contributed to, by the ‎Corporation or its Subsidiaries for the benefit of any current or former director, officer, employee ‎or consultant of the Corporation or any subsidiary, as applicable (the "Employee Plans"), each of ‎which has been maintained in all material respects with its terms and with the requirements ‎prescribed by any and all statutes, orders, rules and regulations that are applicable to such ‎Employee Plans;‎

    (ff) all material accruals for unpaid vacation pay, premiums for unemployment insurance, health premiums, ‎pension plan premiums, accrued wages, salaries and commissions and employee benefit plan ‎payments of the Corporation and its Subsidiaries have been recorded in accordance with generally ‎accepted accounting principles in Canada or international financial reporting standards, as ‎applicable, and are reflected on the books and records of the Corporation;‎

    (gg) other than as disclosed in the Offering Documents, neither the Corporation nor its Subsidiaries has made ‎any loans to or guaranteed the obligations of any person;‎

    (hh) all of the material contracts and agreements of the Corporation (including, for greater certainty, any ‎contracts and agreements relating to the Intellectual Property) have been disclosed in the ‎Offering Documents and, if required under the Applicable Securities Laws, have or will be filed ‎with the Securities Commissions. Neither the Corporation nor its Subsidiaries has received any ‎notification from any party that it intends to terminate any such material contract;‎

    (ii) each of the material agreements and other documents and instruments pursuant to which the Corporation ‎or the Subsidiaries holds its Intellectual Property, property and assets and conducts its business ‎is a valid and subsisting agreement, document and instrument in full force and effect, ‎enforceable in accordance with the terms thereof, the Corporation is not in default of any of the ‎material provisions of any such agreements, instruments or documents nor has any such default ‎been alleged;‎

    
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    (jj) there is no action, suit, proceeding, inquiry or investigation before or brought by any court or ‎Governmental Authority, governmental instrumentality or body, domestic or foreign, now pending ‎or, to the knowledge of the Corporation, threatened against or affecting the Corporation or any ‎subsidiary which is required to be disclosed in the Offering Documents, and which if not so ‎disclosed, or which if determined adversely, would have a Material Adverse Effect, or would ‎materially and adversely affect the consummation of the transactions contemplated in this ‎Agreement or the performance by the Corporation of its obligations hereunder. The aggregate of ‎all pending legal or governmental proceedings to which the Corporation or any subsidiary is a ‎party or of which any of their respective property or assets is subject, which are not described in ‎the Offering Documents include only ordinary routine litigation incidental to the business, ‎properties and assets of the Corporation and the Subsidiaries and would not reasonably be ‎expected to result in a Material Adverse Effect;‎

    (kk) the minute books and records of the Corporation and the Subsidiaries made available to counsel for the‎ Agent in connection with its due diligence investigation of the Corporation are all of the ‎minute books and records of the Corporation and each Subsidiaries and contain copies of all ‎significant proceedings of the shareholders and the boards of directors of the Corporation and ‎the Subsidiaries and there have not been any other formal meetings, resolutions or proceedings of ‎the shareholders or boards of directors of the Corporation or the Subsidiaries not reflected in such ‎minute books and other records, other than those concerning the Offering or which have been disclosed in writing to the ‎Agent or at or in respect of which no material corporate matter or business was approved ‎or transacted;‎

    (ll) no order, ruling or determination having the effect of suspending the sale or ceasing the trading in any ‎securities of the Corporation has been issued by any regulatory authority and is continuing in ‎effect and no proceedings for that purpose have been instituted or, to the knowledge of the ‎Corporation, are pending, contemplated or threatened by any regulatory authority;‎

    (mm) the Corporation is a reporting issuer in good standing in each of the Qualifying Jurisdictions under Applicable Securities Laws;‎

    (nn) the Corporation is qualified under NI 44-102 to file a prospectus supplement in ‎each of the Qualifying Jurisdictions and on the date of and upon filing of the Prospectus there ‎will be no documents required to be filed under Applicable Securities Laws in connection with the ‎distribution of the Units that will not have been filed as required;‎

    (oo) the Corporation is in compliance in all material respects with its continuous and timely disclosure ‎obligations under Applicable Securities Laws and the rules and regulations of the CSE and has ‎filed all documents required to be filed by it with the Securities Commissions in the Qualifying Jurisdictions and under the Applicable Securities Laws, and no document ‎has been filed on a confidential basis with the Securities Commissions that remains confidential ‎at the date hereof. None of the documents filed in accordance with applicable Canadian ‎Securities Laws contained, as at the date of filing thereof, a misrepresentation;‎

    (pp) no securities commission, stock exchange or comparable authority has issued any order preventing or ‎suspending the use or effectiveness of the Offering Documents or preventing the distribution of ‎the Units in any Qualifying Jurisdiction nor instituted proceedings for that purpose and, to the ‎knowledge of the Corporation, no such proceedings are pending or contemplated;‎

    
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    (qq) no forward-looking information (within the meaning of Applicable Securities Laws) included or ‎incorporated by reference in the Prospectus has been made or reaffirmed by the Corporation ‎without a reasonable basis in terms of the data and assumptions used, or has been disclosed ‎other than in good faith;‎

    (rr) the directors and "named executive officers" (as defined under NI 51-102) of the ‎Corporation and the Subsidiaries and their compensation arrangements with the Corporation, ‎whether as directors, officers or employees of the Corporation, are as disclosed in the Offering ‎Documents;‎

    (ss) the Corporation has not completed any "significant acquisition" nor has it entered into a binding ‎agreement in respect of any "probable acquisition" (as such terms are defined in NI 51-102) and ‎no proposed acquisition has progressed to a state where a reasonable person would believe that ‎the likelihood of the Corporation completing the acquisition is high such that Canadian Securities ‎Laws would require the inclusion or incorporation by reference of any additional financial ‎statements or pro forma financial statements in the Prospectus or the filing of a Business ‎Acquisition Report pursuant to Applicable Canadian Securities Laws;‎

    (tt) neither the Corporation nor the Subsidiaries own any real property;‎

    (uu) neither the Corporation nor the Subsidiaries leases premises for the Corporation or the Subsidiaries which ‎are material to the Corporation and the Subsidiaries on a consolidated basis and which the ‎Corporation or the Subsidiaries occupies as tenant; ‎

    (vv) each of the Corporation and the Subsidiaries are currently in compliance with any and all applicable Laws ‎or any judicial or administrative interpretation thereof, including any judicial or administrative ‎order, consent, decree or judgment, relating to the environment or environmental issues ‎‎(including air, surface, water and stratospheric matters), pollution or protection of human health ‎and safety; and there are no pending or, to the knowledge of the Corporation, any threatened, ‎administrative, regulatory or judicial actions, suits, demands, claims, liens, notices of non-‎compliance or violation, investigation or proceedings relating to any environmental laws, except ‎where any non-compliance with any such provisions could not reasonably be expected to have a ‎Material Adverse Effect. The facilities and operations of the Corporation and the Subsidiaries are ‎currently being conducted, and to the knowledge of the Corporation have been conducted, in all ‎material respects in accordance with all applicable workers' compensation and health and safety ‎and workplace laws, regulations and policies;‎

    (ww) except as mandated by an applicable regulatory or Governmental Authority, which mandates have not ‎materially affected the Corporation, as at the date hereof, and except as disclosed in the ‎Prospectus, there has been no material effect on the operations of the Corporation or the ‎Subsidiaries as a result of the novel coronavirus disease (COVID-19) outbreak (the "COVID-19 ‎Outbreak"). The Corporation has been monitoring the COVID-19 Outbreak and the potential ‎impact at all of its operations, and management believes it has implemented appropriate ‎measures to support the wellness of its employees where the Corporation and the Subsidiaries ‎operate while continuing to operate;‎

    
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    (xx) ‎the Corporation and/or the Subsidiaries are the exclusive owners of and possess all right, title and interest ‎in and to all Corporation IP, or have an exclusive license or right to use, and sub-license the ‎Licensed IP as disclosed in the Offering Documents, such Intellectual Property being used by ‎the Corporation or the Subsidiaries in connection with their businesses and operations, with good ‎and marketable title or valid licenses thereto, free and clear of all Liens and subject to the terms ‎and conditions of the licenses;‎

    (yy) the Corporation and the Subsidiaries have taken commercially reasonable steps to maintain, and have not ‎taken any steps that could constitute abandonment of, the Corporation IP, including paying all ‎necessary fees and filing all appropriate registrations, affidavits and renewals with the ‎appropriate Governmental Authorities;‎

    (zz) the Corporation and the Subsidiaries, as applicable, have entered into valid and enforceable written ‎agreements pursuant to which the Corporation and the Subsidiaries, as applicable, have been ‎granted all licenses and permissions to use, reproduce, sub-license, modify, update, enhance or ‎otherwise exploit any Licensed IP to the extent required in the business of the Corporation and ‎the Subsidiaries;‎

    (aaa) all of the Corporation IP owned by the Corporation or the Subsidiaries was created by employees in the ‎course of their employment or by contractors who have transferred and assigned all of their ‎rights in and to such Corporation IP to the Corporation or the Subsidiaries pursuant to written ‎assignment agreements and have waived their moral rights in and to such Intellectual Property;‎

    (bbb) except for such licenses, sublicenses and other agreements relating to off-the-shelf software, which is ‎commercially available on a retail basis, each of the Corporation and the Subsidiaries has ‎performed all obligations imposed upon it pursuant to all licenses, sublicenses, distributor ‎agreements, and other agreements under which the Corporation or the Subsidiaries is either a ‎licensor, licensee or distributor, relating to the Corporation IP or the Licensed IP, all of which are, ‎to the knowledge of the Corporation, valid, enforceable and in full force and effect and which ‎contain terms and conditions prohibiting the unauthorized use, reproduction, disclosure, reverse ‎engineering or transfer of such Intellectual Property, and neither the Corporation nor its ‎ Subsidiaries, nor to the knowledge of the Corporation any other party thereto, is in breach of or ‎default thereunder in any material respect, nor is there any event which with notice or lapse of ‎time or both would constitute a material default thereunder;‎

    (ccc) to the knowledge of the Corporation, the business operations, or the products or services owned, used, ‎developed, sold, provided, imported, made or licensed by the Corporation or the Subsidiaries, ‎does not infringe upon or otherwise violate any Intellectual Property rights of others;‎

    (ddd) except as disclosed in the Offering Documents, none of the Corporation IP or the Licensed IP is subject ‎to any outstanding order, and no claims are pending or, to the knowledge of the Corporation, ‎threatened, which: (i) challenge the validity, enforceability, use, ownership or right in or to any ‎such Intellectual Property, (ii) allege that the operation of the Corporation or the Subsidiaries' ‎business infringes or otherwise violates any Intellectual Property right or other proprietary ‎rights(s) of a third party, and the Corporation has no knowledge of any facts which would form a ‎valid basis for any such claim; or (iii) contest the right of the Corporation or the Subsidiaries to ‎sell, license or use any material products or services of the Corporation or the Subsidiaries;‎

    
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    (eee) to the knowledge of the Corporation, no person is infringing upon or otherwise violating the Corporation ‎IP or the Licensed IP and neither the Corporation nor its Subsidiaries have brought or threatened ‎any action, suit or proceeding for unauthorized use, disclosure, infringement or misappropriation ‎of such Intellectual Property or breach of any license or agreement involving such Intellectual ‎Property against any third party;‎

    (fff) each of the Corporation and the Subsidiaries has taken commercially reasonable actions to maintain and ‎protect each item of the Corporation IP, including taking commercially reasonable actions and ‎precautions to protect the secrecy, confidentiality and value of its trade secrets and the ‎proprietary and confidential nature and value of its Intellectual Property;‎

    (ggg) all forms of testing and investigation that have been sponsored by or otherwise been conducted by, on ‎behalf of, or for the benefit of the Corporation or any Subsidiaries in furtherance of product ‎development and improvement have been and, to the extent pending, are being conducted in ‎accordance in all material respects with all applicable Laws (including, without limitation, those ‎administered by Health Canada, the Food and Drug Administration of the U.S. Department of ‎Health and Human Services (the "FDA") or by any supranational, foreign, federal, state, ‎provincial, or local governmental or regulatory authority performing functions similar to those ‎performed by Health Canada and/or the FDA), and neither the Corporation nor the Subsidiaries has ‎received any notices or other correspondence questioning the material compliance or ‎acceptability of any such testing in any material respect to support regulatory filings. To the ‎knowledge of the Corporation, to the extent any studies or clinical trials cited in the Offering ‎Documents are not captured by the preceding sentence, such studies or clinical trials were and ‎are also being conducted in accordance in all material respects with all Laws. All statements ‎regarding or reference to studies, clinical evidence, and testing, performance or other product ‎data (regardless of the source or sponsor) that are included in the Offering Documents are ‎accurate and complete in all material respects and fairly and accurately present the subject ‎information, and each of the Corporation and the Subsidiaries has no knowledge of other data ‎which are materially inconsistent with or otherwise call into question in any material respect such ‎information described or referred to in the Prospectus; ‎

    (hhh) except as would not be reasonably expected to result in a Material Adverse Effect, neither the ‎Corporation nor its Subsidiaries has failed to file with the applicable regulatory authorities ‎‎(excluding Health Canada, the FDA or any foreign, federal, state or local governmental or ‎regulatory authority performing functions similar to those performed by Health Canada and/or the ‎FDA) any filing, declaration, listing, registration, report or submission that is required to be so ‎filed. Except as would not be reasonably expected to result in a Material Adverse Effect, neither ‎the Corporation nor the Subsidiaries has failed to file with Health Canada, the FDA or any foreign, ‎federal, state or local Governmental Authority performing functions similar to those performed ‎by Health Canada and/or the FDA, any filing, declaration, listing, registration, report or ‎submission that is required to be so filed. All such filings were in material compliance with ‎applicable Laws when filed and no deficiencies have been asserted by any applicable ‎Governmental Authority (including, without limitation, Health Canada, the FDA or any foreign, ‎federal, state or local Governmental Authority performing functions similar to those performed ‎by Health Canada and/or the FDA) with respect to any such filings, declarations, listings, ‎registrations, reports or submissions;‎

    
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    (iii) the Corporation and the Subsidiaries are and at all times have been, in compliance with all Health Care ‎Laws to the extent applicable to the Corporation, the Subsidiaries, and it's or their products, ‎operations, and activities, and have not engaged in activities which are, as applicable, cause for ‎false claims liability, civil penalties, criminal conviction, or mandatory or permissive exclusion ‎from any federal, state or provincial health care program, other than any instances of non-‎compliance or activities that would not reasonably be expected to result in a Material Adverse ‎Effect. Neither the Corporation nor the Subsidiaries have received notice of any claim, action, suit, ‎audit, proceeding, hearing, enforcement, investigation, arbitration or other action from any court, ‎arbitrator, or any other Governmental Authority, or third party alleging or asserting any liability ‎under, any non-compliance with, or that any product, operation or activity is in violation of any ‎Health Care Laws, and, to the knowledge of the Corporation, no such claim, action, suit, audit, ‎proceeding, hearing, enforcement, investigation, arbitration or other action is threatened. To the ‎knowledge of the Corporation, there are no facts or circumstances that would reasonably be ‎expected to give rise to liability of the Corporation under Health Care Laws;‎

    (jjj) the Corporation and the Subsidiaries have filed, obtained, maintained, and submitted all reports, ‎documents, forms, notices, applications, records, claims, submissions and supplements or ‎amendments as required by any Health Care Law or any Permit ("Filings") in all material respects, ‎and all such Filings were complete and correct in all material respects and not misleading in any ‎material respect on the date filed (or were corrected or supplemented by a subsequent Filing). ‎Neither the Corporation nor its Subsidiaries have offered, paid, solicited or received any ‎remuneration, discount, or rebate, to or from any Person except in compliance in all respects ‎with all Health Care Laws, other than any instance of non-compliance as would not reasonably be ‎expected to result in a Material Adverse Effect;‎

    (kkk) neither the Corporation nor the Subsidiaries has filed an investigational new drug application ("IND") with ‎the FDA, and neither the Corporation nor the Subsidiaries is required to submit information to the ‎FDA, including but not limited to any information relating to an IND of the Corporation or the ‎ Subsidiaries;‎

    (lll) all testing, product research and development activities, including quality assurance, quality control, testing, and research and analysis activities, conducted by the Corporation or the Subsidiaries in connection with their Business is being conducted in compliance, in all respects, with all industry, laboratory safety, management and training standards applicable to its current and proposed Business and all such processes, procedures and practices, required in connection with such activities are in place as necessary and are being complied with, in all respects;

    (mmm) the currently outstanding Common Shares are listed and posted for trading on the CSE and NASDAQ and all necessary notices and filings have been made with, and all necessary consents, approvals and authorizations obtained by, the Corporation from the CSE and NASDAQ to ensure that (i) the Offered Shares; (ii) the Warrant Shares issuable upon exercise of the Warrants; (iii) the Compensation Unit Shares issuable upon exercise of the Compensation Warrants and (iv) the Compensation Warrant Shares issuable upon exercise of the Compensation Unit Warrants, will be listed and posted for trading on the CSE and NASDAQ upon their issuance, subject only to the Standard Listing Conditions;

    
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    (nnn) the Corporation has not withheld, and will not withhold from the Agent prior to the Closing Time, any material facts relating to the Corporation, the Subsidiaries or the Offering;

    (ooo) Computershare Investor Services Inc. is the duly appointed registrar and transfer agent of the Corporation with respect to the Common Shares and Computershare Trust Company of Canada is the warrant agent in respect of the Warrants;

    (ppp) other than the term sheet filed by the Corporation on SEDAR on August 25, 2022, the Corporation has not and will not provide to prospective purchasers any document or other material that would constitute an offering memorandum or future oriented financial information within the meaning of Securities Laws. The Corporation has and will not engage in any form of general solicitation or general advertising in connection with the offer and sale of the Offered Securities, including but not limited to, causing the sale of the Offered Securities to be advertised in any newspaper, magazine, printed public media, printed media or similar medium of general and regular paid circulation, broadcast over radio, television or telecommunications, including electronic display, or conduct any seminar or meeting relating to the offer and sale of the Offered Securities whose attendees have been invited by general solicitation or advertising;

    (qqq) other than the Agent and H.C. Wainwright & Co. LLC, the Corporation's U.S. capital markets advisor, there is no person, firm or company acting or purporting to act at the request of the Corporation who is entitled to any finder's fee in connection with the transactions contemplated herein and in the event that any person, firm or company acting for the Corporation at the request of the Corporation establishes a claim for any fee from the Agent, except as identified in writing to the Corporation and the Agent prior to Closing, the Corporation covenants to indemnify and hold harmless the Agent with respect thereto and with respect to all costs reasonably incurred in the defence thereof;

    (rrr) the Corporation has provided the Agent with all information requested by the Agent in connection with the sale of the Offered Securities and such information is true and correct in all material respects and no material fact or material facts have been omitted therefrom which would make such information misleading. There is no material fact known to the Corporation that has not been disclosed herein, or to the Agent, or in any other agreement, document or written instrument furnished by the Corporation to the Agent in connection with the transactions contemplated hereby and thereby and which has resulted in or would reasonably be expected to result in a Material Adverse Effect;

    (sss) the statements set forth in the Prospectus under the headings "Eligibility for Investment" and "Certain Material Canadian Federal Income Tax Considerations" are accurate, subject to the limitations and qualifications set out therein;

    (ttt) all information which has been prepared by the Corporation relating to the Corporation and its business, properties and liabilities and made available to the Agent, including all financial, marketing, sales and operational information provided to the Agent was, as of the date of such information, true and correct in all material respects, taken as a whole, and no fact or facts have been omitted therefrom which would make such information materially misleading and did not contain a misrepresentation; and

    
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    (uuu) as of the date of the delivery of an Offering Document by the Corporation:

    (i) the information and statements (except information and statements relating to the Agent and provided in writing by the Agent for inclusion therein) contained or incorporated by reference in any of the Offering Documents, as the case may be, are true and correct, in all material respects, and contain no misrepresentation and constitute full, true and plain disclosure of all material facts relating to the Corporation and the Offered Securities;

    (ii) no material fact or information has been omitted therefrom (except for facts or information relating to the Agent) which is required to be stated in such disclosure or is necessary to make the statements or information contained in such disclosure not misleading in light of the circumstances in which they were made;

    (iii) except with respect to any information relating solely to the Agent and provided by the Agent for inclusion therein, the Offering Documents comply in all material respects with the requirements of Applicable Securities Laws; and

    (iv) except as set forth or contemplated in the Offering Documents, there has been no adverse material change (actual, anticipated, contemplated, proposed or threatened) in the business, affairs, prospects, operations, properties, assets, liabilities (contingent or otherwise) or capital of the Corporation since the end of the period covered by the Financial Statements;

    (vvv) the delivery of each Offering Document by the Corporation shall constitute the Corporation's consent to the Agent's use of the Offering Documents in connection with the distribution of the Offered Securities in the Selling Jurisdictions in compliance with this Agreement unless otherwise advised in writing;

    (www) none of the Corporation or any of its affiliates or any persons acting on any of their behalf ‎has offered or sold, or will offer or sell, (i) any of the Offered Securities in the ‎United States or to or for the account or benefit of a U.S. Person or a person in the ‎United States, except for offers and sales made directly by the Corporation in full ‎compliance and reliance on the exemption from registration under the U.S. ‎Securities Act provided by Section 4(a)(2) and/or Rule 506(b) of Regulation D; or ‎‎(ii) any of the Offered Securities outside the United States, except for offers and ‎sale made in Offshore Transactions in accordance with Rule 903 of Regulation S; ‎and

    (xxx) the offering of the Offered Securities in the United States or to or for the account or ‎benefit of a U.S. Person or a person in the United States by the Corporation is not ‎prohibited pursuant to a court order issued pursuant to Section 12(j) of the U.S. ‎Exchange Act and any rules or regulations promulgated thereunder

    Notwithstanding any contrary provision in this Agreement including any schedule hereto, no investigation or opportunity afforded to the Agent or its advisors to conduct due diligence shall in any way affect, or limit liability for, any representation, warranty or covenant of the Corporation contained in this Agreement and the Agent will be deemed to have relied solely upon the representations, warranties and covenants contained in this Agreement, notwithstanding any contrary information that may have been provided or made available to the Agent or any of the Agent's representatives or that the Agent discovered in the course of any such investigation either prior to or subsequent to the date of this Agreement.

    
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    7 Covenants of the Corporation

    The Corporation hereby covenants to the Agent that the Corporation:

    (a) will advise the Agent, promptly after receiving notice or obtaining knowledge thereof, of:

    (i) the issuance by any Canadian Securities Regulators of any order suspending or preventing the use of any of the Offering Documents;

    (ii) the suspension of the qualification of the Offered Securities and the Compensation Warrants in any of the Qualifying Jurisdictions or the institution, threatening or contemplation of any proceeding for any such purposes; or

    (iii) any requests made by any Canadian Securities Regulators for amending or supplementing the Prospectus or for additional information, and will use its best efforts to prevent the issuance of any order referred to in (i) above and, if any such order is issued, to obtain the withdrawal thereof as quickly as possible;

    (b) will use commercially reasonable efforts to maintain its status as a "reporting issuer" (or the equivalent thereof) not in default of the requirements of the Applicable Securities Laws in the Qualifying Jurisdictions for a period of 24 months following the Closing Date, provided that the foregoing requirement shall not prevent the Corporation from completing a sale of all or substantially all of its assets or any transaction which would result in the Corporation ceasing to be a "reporting issuer" pursuant to a take-over bid or other transaction that requires a vote by shareholders of the Corporation;

    (c) will use its commercially reasonable efforts to maintain the listing of (i) the Offered Shares; (ii) the Warrant Shares issuable upon exercise of the Warrants; (iii) the Compensation Unit Shares issuable upon exercise of the Compensation Warrants; (iv) the Compensation Warrant Shares issuable upon exercise of the Compensation Unit Warrants, on the CSE or another recognized stock exchange or quotation system for a period of at least 24 months following the Closing Date, provided that the foregoing requirement shall not prevent the Corporation from completing a sale of all or substantially all of its assets or any transaction which would result in the Corporation ceasing to be a "reporting issuer" pursuant to a take-over bid or other transaction that requires a vote by shareholders of the Corporation;

    (d) will duly execute and deliver the Warrant Indenture and the Compensation Warrant Certificate at the Closing Time and comply with and satisfy all terms, conditions and covenants therein contained to be complied with or satisfied by the Corporation; 

    (e) will ensure that, at the Closing Time, the Offered Shares shall be duly issued as fully paid and non-assessable Common Shares on payment of the purchase price therefor;

    
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    (f) will ensure that, at the Closing Time, the Warrants and the Compensation Warrants shall be duly and validly created and issued and shall have attributes corresponding in all material respects to the description set forth in this Agreement, the Compensation Warrants Certificates and the Warrant Indenture, as applicable;

    (g) will ensure that at all times following the grant of the Compensation Warrants and prior to the expiry of the Compensation Warrants, a sufficient number of Compensation Unit Shares and Compensation Unit Warrants are allotted and reserved for issuance upon the due exercise of the Compensation Warrants in accordance with their terms;

    (h) will ensure that at all times following the grant of the Compensation Warrants and prior to the expiry of the Compensation Unit Warrants, a sufficient number of Compensation Warrant Shares are allotted and reserved for issuance upon the due exercise of the Compensation Unit Warrants in accordance with their terms;

    (i) will ensure that at all times following the grant of the Warrants and prior to the expiry of the Warrants, a sufficient number of Warrant Shares are allotted and reserved for issuance upon the due exercise of the Warrants in accordance with their terms;

    (j) will ensure that, upon due exercise of the Compensation Warrants in accordance with their terms, the Compensation Unit Shares shall be duly issued as fully paid and non-assessable shares in the capital of the Corporation on payment of the purchase price therefor;

    (k) will ensure that, upon due exercise of the Compensation Unit Warrants in accordance with their terms, the Compensation Warrant Shares shall be duly issued as fully paid and non-assessable shares in the capital of the Corporation on payment of the purchase price therefor;

    (l) will ensure that, upon due exercise of the Warrants in accordance with their terms, the Warrant Shares shall be duly issued as fully paid and non-assessable shares in the capital of the Corporation on payment of the purchase price therefor; 

    (m) will ensure ensure that the Offered Shares, the Warrant Shares, the Compensation Unit Shares and the Compensation Warrant Shares, are listed and posted for trading on the CSE and NASDAQ upon their respective dates of issuance;

    (i) use its commercially reasonable efforts to maintain the Warrant Agent or a substituted warrant agent in respect of the Warrants issued to the Purchasers until the exercise or expiry of all of such Warrants;

    (n) will use the net proceeds of the Offering in the manner specified in the Prospectus Supplement, subject to the qualifications contained therein;

    (o) for the period of 90 days following the Closing Date (the "Standstill Period"), not to, without the prior written consent of Eight, issue, agree to issue or announce any intention to issue, any additional debt, Common Shares or any securities convertible into or exchangeable for shares of the Corporation, except in respect of: (i) the grant of stock options and other similar issuances pursuant to the stock option plans, other employee incentive plans of the Corporation or any other employee incentive arrangements for directors, officers, employees and consultants; (ii) issuances in connection with the exchange, transfer, conversion or exercise rights of existing outstanding options, warrants, convertible debentures and other securities or existing commitments to issue securities; (iii) the issuance of securities as consideration pursuant to one or more arm's length acquisition(s); and (iv) the filing a base shelf prospectus provided that the Corporation does not qualify the issuance of any Common Shares or any securities convertible into or exchangeable for shares of the Corporation thereunder during the Standstill Period;

    
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    (p) use its best efforts to cause each of the senior officers and directors to enter into a lock-up agreement in favour of the Agent pursuant to which he, she or it shall covenant and agree that he, she or it will not, directly or indirectly, offer, issue, sell, grant, secure, pledge, or otherwise transfer, dispose of or monetize, or engage in any hedging transaction, or enter into any form of agreement or arrangement the consequence of which is to alter economic exposure to, or announce any intention to do so, in any manner whatsoever, any Common Shares or any securities convertible into or exchangeable for, or otherwise exercisable to acquire Common Shares or other equity securities of the Corporation for a period of 90 days after the Closing Date, without the prior written consent of the Agent, such consent not to be unreasonably withheld or delayed, provided that such lock-up agreement shall be subject to customary and reasonable carve-outs, exceptions and exclusions; and

    (q) promptly do, make, execute or deliver, or cause to be done, made, executed or delivered, such further acts, documents and things for the purpose of giving effect to this Agreement and the transactions contemplated herein.

    8 Conditions of Closing

    The following are conditions precedent to the obligations of the Agent to complete the Closing and of the Purchasers to purchase the Offered Securities at the Closing Time, which conditions the Corporation covenants and agrees to use its best efforts to fulfil within the time set out herein therefor, and which conditions may be waived in writing in whole or in part by the Agent:

    (a) the Corporation shall have caused its counsel, McMillan LLP, to deliver to the Agent legal opinions dated and delivered on the Closing Date, as applicable, addressed to the Agent and the Purchasers, in form and substance satisfactory to the Agent acting reasonably, with respect to the following matters:

    (i) the Corporation being a "reporting issuer", or its equivalent, in each of the Qualifying Jurisdictions and not in default under Applicable Securities Laws in the Qualifying Jurisdictions;

    (ii) the Corporation being a corporation existing under the laws of the Business Corporations Act (British Columbia);

    (iii) the Corporation having the corporate power and capacity to own and lease its property and assets and to conduct its Business as described in the Prospectus;

    (iv) the authorized and issued share capital of the Corporation;

    (v) the Corporation having all necessary corporate power and capacity to execute and deliver the Transaction Documents and to perform its obligations hereunder and thereunder, including to grant the Over-Allotment Option, to create, issue and sell the Offered Securities, the Compensation Warrants,  to issue the Warrant Shares issuable upon the exercise of the Warrants, to issue the Compensation Unit Shares and Compensation Unit Warrants issuable upon the exercise of the Compensation Warrants and to issue the Compensation Warrant Shares issuable upon exercise of the Compensation Unit Warrants;

    
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    (vi) the Corporation has the necessary corporate power and authority to sign and deliver the Prospectus and all necessary corporate action having been taken by the Corporation to authorize the execution and delivery of each of the Prospectus and any Supplementary Material and the filing thereof with the Securities Commissions and the delivery of the U.S. Placement Memorandum;

    (vii) the Offered Shares having been duly and validly authorized for issuance and that, at the Closing Time and upon payment of the purchase price therefor and the issuance thereof, the Offered Shares will be duly and validly issued as fully paid and non-assessable Common Shares;

    (viii) the form and terms of the Compensation Warrant Certificates having been approved by the board of directors of the Corporation and complying in all material respects with the requirements of the Business Corporations Act (British Columbia);

    (ix) the Warrants and the Compensation Warrants have been validly authorized, issued and created;

    (x) the Warrant Shares issuable upon exercise of the Warrants having been reserved for issuance by the Corporation and, upon the payment of the exercise price therefor and the issue thereof in accordance with the terms of the Warrant Indenture, being validly issued as fully paid and non-assessable Common Shares;

    (xi) the Compensation Unit Shares issuable upon exercise of the Compensation Warrants having been reserved for issuance by the Corporation and, upon the payment of the exercise price therefor and the issue thereof in accordance with the terms of the Compensation Warrant Certificates, being validly issued as fully paid and non-assessable Common Shares;

    (xii) the Compensation Unit Warrants issuable upon exercise of the Compensation Warrants having been reserved for issuance by the Corporation and, upon the payment of the exercise price therefor and the issue thereof in accordance with the terms of the Compensation Warrant Certificates, being validly issued;

    (xiii) the Compensation Warrant Shares issuable upon exercise of the Compensation Unit Warrants having been reserved for issuance by the Corporation and, upon the payment of the exercise price therefor and the issue thereof in accordance with the terms of the Compensation Unit Warrant certificates, being validly issued as fully paid and non-assessable Common Shares;

    (xiv) all necessary corporate action having been taken by the Corporation to authorize the execution and delivery of the Transaction Documents and the performance of its obligations hereunder and thereunder, including the grant of the Over-Allotment Option, the issuance and sale of the Offered Securities, and the Compensation Warrants, the issuance of the Warrant Shares upon exercise of the Warrants, and the issuance of the Compensation Unit Shares and Compensation Unit Warrants upon exercise of the Compensation Warrants, the issuance of the Compensation Warrant Shares upon exercise of the Compensation Unit Warrants, and the Transaction Documents having been executed and delivered by the Corporation and constituting legal, valid and binding obligations of the Corporation, enforceable against the Corporation in accordance with their respective terms, subject to standard qualifications, including that specific performance and other equitable remedies may only be granted in the discretion of a court of competent jurisdiction, that the provisions thereof relating to indemnity, contribution and waiver of contribution may be unenforceable;

    
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    (xv) the execution and delivery of the Transaction Documents, the fulfilment of the terms hereof and thereof by the Corporation, including the grant of the Over-Allotment Option, the issuance and sale of the Offered Securities and the Compensation Warrants, the issuance of the Warrant Shares upon exercise of the Warrants, the issuance of the Compensation Unit Shares and Compensation Unit Warrants upon exercise of the Compensation Warrants, and the issuance of the Compensation Warrant Shares upon exercise of the Compensation Unit Warrants,  do not and will not (as the case may be) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, whether after notice or lapse of time or both: (i) the constating documents and by-laws of the Corporation; or (iii) the Applicable Laws of the Province of British Columbia and federal laws applicable therein;

    (xvi) all necessary documents having been filed, all requisite proceedings having been taken and all approvals, permits, authorizations and consents of the appropriate regulatory authority in each of the Qualifying Jurisdictions having been obtained by the Corporation to qualify the distribution of the Offered Securities through persons who are registered under Applicable Securities Laws and who have complied with the relevant provisions of Applicable Securities Laws;

    (xvii) that the statements set forth in the Prospectus under the caption "Eligibility for Investment" and "Certain Material Canadian Federal Income Tax Considerations" in the Prospectus Supplement are accurate, subject to the limitations and qualifications set out therein;

    (xviii) the attributes of the Offered Securities are consistent, in all material respects, with the descriptions in the Prospectus;

    (xix) all necessary documents have been filed, all proceedings have been taken and all legal requirements have been fulfilled as required under the Applicable Securities Laws in order to qualify the Offered Securities and the Compensation Warrants for distribution in the Qualifying Jurisdictions by or through investment dealers or brokers who are registered under the Applicable Canadian Securities Laws of the Qualifying Jurisdictions and who have complied with the relevant provisions of the Applicable Canadian Securities Laws of the Qualifying Jurisdictions;

    (xx) the issue and delivery by the Corporation in the Qualifying Jurisdictions of the Warrant Shares to the holders of Warrants upon their exercise pursuant to the terms and conditions of the Warrant Indenture being exempt from, or not subject to, the prospectus requirements of Applicable Canadian Securities Laws of the Qualifying Jurisdictions and no prospectus or other documents being required to be filed, proceedings taken or approvals, permits, consents or authorizations required to be obtained under Applicable Canadian Securities Laws of the Qualifying Jurisdictions (other than such as will have already been filed or obtained) to permit such issue;

    
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    (xxi) the first trade in, or resale of, the Warrant Shares issuable upon exercise of the Warrants being exempt from, or not subject to, the prospectus requirements of Applicable Canadian Securities Laws of the Qualifying Jurisdictions and no prospectus or other documents being required to be filed, proceedings taken or approvals, permits, consents or authorizations required to be obtained under Applicable Canadian Securities Laws of the Qualifying Jurisdictions (other than such as will have already been filed or obtained) to permit such trade, provided that the trade will not be a "control distribution" (as defined in National Instrument 45-102 - Resale of Securities), the Corporation is a reporting issuer at the time of the trade, and such trade is not a transaction or series of transactions involving purchases and sales or repurchases and resales in the course of or incidental to a "distribution" (as defined under Applicable Canadian Securities Laws of the Qualifying Jurisdictions);

    (xxii) the issue and delivery by the Corporation in the Qualifying Jurisdictions of the Compensation Unit Shares, Compensation Unit Warrants and Compensation Warrant Shares to the holders of Compensation Warrants and Compensation Unit Warrants, as applicable, upon their exercise pursuant to the terms and conditions of the Compensation Warrant Certificates and Compensation Unit Warrant certificate being exempt from, or not subject to, the prospectus requirements of Applicable Canadian Securities Laws of the Qualifying Jurisdictions and no prospectus or other documents being required to be filed, proceedings taken or approvals, permits, consents or authorizations required to be obtained under Applicable Canadian Securities Laws of the Qualifying Jurisdictions (other than such as will have already been filed or obtained) to permit such issue;

    (xxiii) the first trade in, or resale of, the Compensation Unit Shares issuable upon exercise of the Compensation Warrants and the Compensation Warrant Shares issuable upon exercise of the Compensation Unit Warrants being exempt from, or not subject to, the prospectus requirements of Applicable Canadian Securities Laws of the Qualifying Jurisdictions and no prospectus or other documents being required to be filed, proceedings taken or approvals, permits, consents or authorizations required to be obtained under Applicable Canadian Securities Laws of the Qualifying Jurisdictions (other than such as will have already been filed or obtained) to permit such trade, provided that the trade will not be a "control distribution" (as defined in National Instrument 45-102 - Resale of Securities), the Corporation is a reporting issuer at the time of the trade, and such trade is not a transaction or series of transactions involving purchases and sales or repurchases and resales in the course of or incidental to a "distribution" (as defined under Applicable Canadian Securities Laws of the Qualifying Jurisdictions);

    
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    (xxiv) all filing have been made with the CSE in connection with the issuance and listing of the (i) the Offered Shares; (ii) the Warrant Shares; (iii) the Compensation Unit Shares; and (iv) the Compensation Warrant Shares, subject only to the Standard Listing Conditions;

    (xxv) Computershare Trust Company of Canada having been duly appointed as the warrant agent pursuant to the Warrant Indenture; and

    (xxvi) Computershare Investor Services Inc. having been duly appointed as the transfer agent and registrar for the Common Shares.

    In connection with such opinions, counsel to the Corporation may rely on the opinions of local counsel in the Selling Jurisdictions acceptable to counsel to the Agent, acting reasonably, as to qualification for distribution of the Offered Securities and the Compensation Warrants or opinions may be given directly by local counsel of the Corporation with respect to those items and as to other matters governed by the laws of jurisdictions other than the province in which they are qualified to practise and may rely, to the extent appropriate in the circumstances, as to matters of fact on certificates of officers of the Corporation and others;

    (b) if any Offered Securities are sold to Purchasers in the United States or to, or for the account or benefit of, U.S. Persons or persons in the United States, the Agent receiving, at the Closing Time, a legal opinion dated the Closing Date, addressed to the Agent, in form and substance acceptable to the Agent, acting reasonably, of United States legal counsel to the Corporation (who may rely, to the extent appropriate in the circumstances, as to matters of fact, on certificates of officers of the Corporation, public and exchange officials or the auditors or transfer agent of the Corporation), to the effect that the offer and sale of the Offered Securities in the United States or to, or for the account or benefit of, U.S. Persons or persons in the United States are not required to be registered under the U.S. Securities Act, provided such offers and sales are made in accordance with Schedule "A" hereto; it being understood that such counsel need not express its opinion with respect to any resale of the Offered Securities;

    (c) the Agent shall have received a certificate, dated as of the Closing Date, signed by the Chief Executive Officer and the Chief Financial Officer of the Corporation, or such other officer(s) of the Corporation as the Agent may agree, certifying for and on behalf of the Corporation with respect to: (i) the constating documents of the Corporation; (ii) the resolutions of the Corporation's board of directors relevant to the Offering and the authorization of the other agreements and transactions contemplated herein; and (iii) the incumbency and signatures of signing officers of the Corporation;

    (d) the Corporation shall cause the Auditors to deliver to the Agent a comfort letter, dated as of the Closing Date, in form and substance satisfactory to the Agent, acting reasonably, bringing forward to a date not more than two Business Days prior to the Closing Date, the information contained in the comfort letter referred to in subsection 4(a)(iii) hereof;

    (e) the Agent shall have received a certificate, dated as of the Closing Date, signed by the Chief Executive Officer and Chief Financial Officer of the Corporation, or such other officers of the Corporation as the Agent may request, certifying for and on behalf of the Corporation, after having made due enquiry and after having carefully examined the Prospectus and any Supplementary Material, that:

    
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    (i) the Corporation has complied in all material respects (except where already qualified by a materiality or Material ‎Adverse Effect qualification, in which case the Corporation has ‎complied in all respects) ‎with all of the covenants and satisfied in all material respects (except where already qualified by materiality, in ‎which case the Corporation has complied in all respects)‎ all of the terms and conditions of this Agreement on its part to be complied with and satisfied at or prior to the Closing Time;

    (ii) no order, ruling or determination having the effect of ceasing or suspending the trading in the Common Shares or prohibiting the sale of the Offered Securities or any other securities of the Corporation has been issued by any regulatory authority and continuing in effect and no proceedings for such purpose having been instituted or being pending or, to the knowledge of such officers, contemplated or threatened under any relevant securities laws (including Applicable Securities Laws) or by any regulatory authority;

    (iii) subsequent to the respective dates as at which information is given in the Prospectus, there has not occurred a Material Adverse Effect or any change or development involving a prospective Material Adverse Effect, other than as disclosed in the Prospectus or any Supplementary Material, as the case may be;

    (iv) no material change relating to the Corporation and the Subsidiaries, taken as a whole, has occurred since the date hereof with respect to which the requisite material change report has not been filed and no such disclosure having been made on a confidential basis that remains confidential; and

    (v) the representations and warranties of the Corporation contained in this Agreement and in any certificates of the Corporation delivered pursuant to or in connection with this Agreement, are true and correct as at the Closing Time in all material respects (or, ‎in the case of any representation or warranty containing a materiality or Material ‎Adverse Effect qualification, in all respects) as if such ‎representations and warranties were made as at the Closing Time of Closing, after giving ‎effect to the transactions contemplated hereby‎;

    (f) all consents, approvals, permits, authorizations or filings as may be required to be made or obtained by the Corporation under Applicable Securities Laws in the Selling Jurisdictions necessary for the offer and sale of the Offered Securities, the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby, will have been made or obtained, as applicable (other than, in respect of the Offering, the filing of reports required under Applicable Securities Laws in the Selling Jurisdictions within the prescribed time periods and the filing of standard documents with the CSE and NASDAQ, which documents will be filed as soon as practicable after the Closing Date and, in any event, within such deadline as may be imposed by such Securities Laws, the CSE or NASDAQ) and the Agent will have received copies of correspondence indicating that the Corporation has made all of the necessary filings for the issuance and listing of (i) the Offered Shares; (ii) the Warrant Shares; (iii) the Compensation Unit Shares; and (iv) the Compensation Warrant Shares, subject only to the Standard Listing Conditions;

    
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    (g) the Agent shall have completed and be satisfied, in their sole discretion, with the results of its due diligence investigations regarding the Corporation, its business, operations and financial condition and market conditions at the Closing Time;

    (h) the Agent shall have received a certificate from Computershare Investor Services Inc. as to the number of Common Shares issued and outstanding as at the date immediately prior to the Closing Date;

    (i) the Agent shall have received a certificate of status (or the equivalent) in respect of the Corporation and the Subsidiaries issued by the appropriate regulatory authority in each jurisdiction in which the Corporation and the Subsidiaries are incorporated, amalgamated or continued, as the case may be, which certificate shall be dated no more than two Business Days prior to the Closing Date;

    (j) the Agent shall have received duly executed copies of the Compensation Warrant Certificates in form and substance satisfactory to the Agent, acting reasonably; and

    (k) each of the directors and senior officers of the Corporation shall have delivered to the Agent a signed copy of the Form of Lock-Up Agreement attached hereto as Schedule "B".

    9 Closing

    The Closing shall be completed via electronic exchange of documents unless otherwise agreed to by the Corporation and the Agent.

    At or prior to the Closing Time, the Corporation shall duly and validly deliver to the Agent one or more certificate(s) in definitive form (including such other form of evidence of ownership) or in the form of an electronic deposit pursuant to the non-certificated issue system maintained by CDS Clearing and Depository Services Inc. representing the Offered Securities registered in such name or names as the Agent may notify the Corporation in writing, against payment by the Agent to the Corporation, at the direction of the Corporation, in the lawful money of Canada by wire transfer or, if permitted by applicable law, by certified cheque or bank draft, payable at par in Vancouver, British Columbia, of an amount equal to the proceeds of the Offering net of the Corporate Finance Fee, Agent's Fees and estimated Agent's Expenses in accordance with Section 10 hereof.  Any Offered Securities sold to Purchasers in the United States or to, or for the account or benefit of, U.S. Persons or persons in the United States that are Accredited Investors shall be issued as definitive physical certificates and such certificates shall include the legends required by the U.S. Placement Memorandum.

    The obligation of the Agent to complete the purchase of any Additional ‎Units under this Agreement, upon the exercise of ‎the Over-Allotment Option, is subject to the receipt by the Agent of those ‎documents contemplated, and the satisfaction of those conditions set forth, ‎in Section 8 as the Agent may request. In the event that the Corporation ‎shall subdivide, consolidate, reclassify or otherwise change its Common ‎Shares during the period in which the Over-Allotment Option is exercisable, ‎appropriate adjustments will be made to the exercise price and to the number ‎of the Additional Units issuable on exercise thereof such that the Agent are ‎entitled to arrange for the sale of the same number and type of securities that ‎the Agent would have otherwise arranged for had they exercised such Over-‎Allotment Option immediately prior to such subdivision, consolidation, ‎reclassification or change‎.

    
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    10 Expenses

    The Corporation shall pay all reasonable expenses and fees in connection with the Offering including, without limitation: (i) all expenses of or incidental to the creation, issue, sale or distribution of the Offered Securities; (ii) the fees and expenses of the Corporation's legal counsel, auditors and other advisors; (iii) all costs incurred in connection with the preparation of documentation related to the Offering, including filing fees; (iv) the fees and disbursements of the Agent's legal counsel and all applicable taxes thereon (to a maximum of $100,000, exclusive of disbursements and taxes); and (v) all "out-of-pocket expenses" of $10,000 of the Agent (plus all taxes thereon) in connection with due diligence and marketing meetings ((iv) and (v) collectively, the "Agent's Expenses"). All expenses payable by the Corporation to the Agent in accordance with this Agreement shall be payable whether or not the Offering is completed. Such fees and expenses shall be deducted from the gross proceeds otherwise payable to the Corporation at the Closing Time. Where taxes are applicable and payable by the Agent under the terms of this Agreement, an additional amount will be charged to and shall be payable by the Corporation to the Agent at the Closing Time from the gross proceeds of the Offering to reimburse the Agent for such taxes.

    11 Indemnities 

    (a) Subject to Section 11(j), The Corporation and its subsidiaries or affiliated companies, as the case may ‎be ‎‎(collectively, the "Indemnitor") hereby agrees to indemnify and hold the Agent and their ‎respective affiliates and subsidiaries and the respective directors, officers, partners, agents, ‎employees and shareholders and each other person, if any, controlling any of the Agent or ‎their subsidiaries or affiliates (each an "Indemnified Party" and collectively, the "Indemnified ‎Parties") from and against ‎any and all expenses, losses (other than losses of profit), claims, ‎actions (including shareholder actions, derivative or ‎otherwise), suits, proceedings, damages, ‎liabilities or expenses of whatever nature or kind (excluding loss of profits), ‎whether joint or ‎several, including the aggregate amount paid in reasonable settlement of ‎any actions, suits, ‎proceedings, investigations or claims, and the fees, disbursements and ‎taxes of their counsel ‎‎(collectively, the "Losses") that may be incurred in investigating or ‎advising with respect to ‎and/or defending or settling any actual or threatened third party ‎action, suit, proceeding, ‎investigation or claim (collectively, the "Claims") that may be ‎made against the Indemnified ‎Parties or to which the Indemnified Parties may become ‎subject or otherwise involved in any ‎capacity under any statute or common law or ‎otherwise insofar as such Losses and/or Claims ‎arise out of or are based, directly or ‎indirectly, upon the performance of professional services ‎rendered to the Corporation by ‎the Indemnified Parties hereunder or otherwise in connection with ‎the matters referred to in ‎this Agreement, whether performed before or after the execution and ‎delivery of this Agreement.‎

    (b) The Indemnitor agrees to waive any right they may have of first requiring an Indemnified Party to proceed ‎against or enforce any other right, power, remedy or security or claim payment from any other ‎person before claiming under this indemnity. The Indemnitor  also agrees that no Indemnified ‎Party shall have any liability (whether direct or indirect, in contract or tort or otherwise) to the ‎Corporation or any person asserting Claims on behalf of or in right of the Corporation for or in ‎connection with the Offering except to the extent any Losses suffered by the Corporation are ‎determined by a court of competent jurisdiction in a final judgment that has become non-‎appealable to have resulted solely from fraud, the gross negligence or willful misconduct of ‎such Indemnified Party.‎

    (c) Promptly after receiving notice of a Claim against an Indemnified Party or receipt of notice of the ‎commencement of any investigation which is based, directly or indirectly, upon any matter in ‎respect of which indemnification may be sought from the Indemnitor, the Indemnified Party will ‎notify the Indemnitor in writing of the particulars thereof, provided that the omission so to notify ‎the Indemnitor shall not relieve the Indemnitor of any liability which the Indemnitor may have to ‎the Indemnified Party except and only to the extent that any such delay in or failure to give ‎notice as herein required prejudices the defense of such Claim or results in any material increase ‎in the liability which the Indemnitor has under this indemnity.  The Indemnitor shall have 14 days ‎after receipt of the notice to undertake, conduct and control, through counsel of its own ‎choosing and at its own expense, the settlement or defense of the Claim.  If the Indemnitor ‎undertakes, conducts and controls the settlement or defense of the Claim, the relevant ‎Indemnified Parties shall have the right to participate in the settlement or defense of the Claim, at ‎the expenses of the relevant Indemnified Party to the extent additional counsel or other external ‎advisors are retained by such Indemnified Party.‎

    
        37

    

    

    (d) In any such Claim, such Indemnified Party shall have the right to retain separate legal counsel to act on ‎such Indemnified Party's behalf, the reasonable fees and expenses of which counsel shall be at ‎the expense of the Indemnitor if: (i) the Indemnitor does not assume the defence of the Claim ‎within such 14 day period after receiving notice; (ii) the Indemnitor agrees to separate ‎representation for the Indemnified Party, or (iii) the representation of the Indemnitor and such ‎Indemnified Party by the same legal counsel would be inappropriate due to actual or potential ‎differing interests, provided that in no circumstances will the Indemnitor be required to pay the ‎reasonable fees and expenses of more than one legal counsel for all Indemnified Parties.‎

    (e) The Indemnitor agrees that in case any legal proceeding shall be brought against the Corporation and/or ‎the Agent by any governmental commission or regulatory authority or any stock exchange ‎or other entity having regulatory authority, either domestic or foreign, shall investigate the ‎Corporation and/or the Indemnified Parties shall be required to testify in connection therewith or ‎shall be required to respond to procedures designed to discover information regarding, in ‎connection with, or by reason of the performance of professional services rendered to the ‎Corporation by the Agent, the Indemnified Parties shall have the right to employ their own ‎counsel in connection therewith, and the reasonable fees and expenses of such counsel as well ‎as the reasonable costs (including a reasonable amount to reimburse the Agent for time ‎spent by the Indemnified Parties in connection therewith) and out-of-pocket expenses incurred ‎by Indemnified Parties in connection therewith shall be paid by the Indemnitor as they occur.‎

    (f) The Indemnitor will not, without the Indemnified Party's prior written consent, settle, compromise, consent ‎to the entry of any judgment in or otherwise seek to terminate any Claim in respect of which ‎indemnification may be sought hereunder (whether or not any Indemnified Party is a party ‎thereto) unless the Indemnitor has acknowledged in writing that the Indemnified Parties are ‎entitled to be indemnified in respect of such Claim and such settlement, compromise, consent or ‎termination includes an unconditional release of each Indemnified Party from any liabilities ‎arising out of such Claim without any admission of negligence, misconduct, liability or ‎responsibility by or on behalf of any Indemnified Party.‎

    (g) To the extent that any Indemnified Party is not a party to this Agreement, the Agent shall obtain ‎and hold the right and benefit of the above-noted indemnity in trust for and on behalf of such ‎Indemnified Party.‎

    (h) The Corporation agrees to reimburse the Agent for the time spent by their personnel in connection ‎with any Claim at their normal per diem rates.‎

    
        38

    

    

    (i) The indemnity and the contribution obligations of the Corporation pursuant to Section 14 shall be in ‎addition to any liability which the Corporation may otherwise have, shall extend upon the same ‎terms and conditions to the personnel of the Agent and shall be binding upon and enure ‎to the benefit of any successors, assigns, heirs and personal representatives of the Corporation ‎and any of the Indemnified Parties. The foregoing provisions shall survive the completion of ‎professional services rendered under this Agreement or any termination of the authorization ‎given by this Agreement.‎

    (j) Notwithstanding anything to the contrary contained herein, the foregoing indemnity shall cease to apply ‎to the extent that a court of competent jurisdiction in a final judgement shall determine that such ‎Losses to which the Indemnified Party may be subject were caused by the negligence, ‎dishonesty, fraud or willful misconduct of the Indemnified Party.  ‎

    12 Contribution

    (a) In the event that the indemnity of the Corporation provided for in Section 11 hereof is declared by a court ‎of competent jurisdiction to be illegal or unenforceable as being contrary to public policy or is ‎unavailable for any other reason, the Agent and the Corporation shall severally, and not ‎jointly, contribute to the aggregate of all Claims and all Losses of the nature contemplated in ‎Section 11 hereof and suffered or incurred by the Indemnified Parties in proportions as is ‎appropriate to reflect: (i) the relative benefits received by the Agent, on the one hand ‎‎(being the Agent's Fee), and the relative benefits received by the Corporation, as applicable, ‎on the other hand (being the gross proceeds derived from the sale of the Units less the Agent's Fee), (ii) the relative fault of the Corporation, on the one hand and the Agent ‎on the other hand, and (iii) relevant equitable consideration; provided that the Corporation shall in ‎any event contribute to the amount paid or payable by the Indemnified Parties as a result of such ‎Claim any excess of such amount over the amount paid or payable to the Agent or any ‎other Indemnified Party under this Agreement. For greater certainty and notwithstanding anything ‎to the contrary contained herein, the Agent shall not in any event be liable to contribute, in ‎the aggregate, any amount in excess of the Agent's Fee or any portion thereof actually ‎received. However, no party who has been determined by a court of competent jurisdiction in a ‎final judgement to have engaged in any fraud, dishonesty, wilful misconduct or negligence shall ‎be entitled to claim contribution from any person who has not been so determined to have ‎engaged in such fraud, dishonesty, wilful misconduct or negligence.‎

    (b) Any party entitled to contribution will, promptly after receiving notice of commencement of any ‎claim, action, suit or proceeding against such party in respect of which a claim for contribution ‎may be made against another party or parties under this section, notify such party or parties from ‎whom contribution may be sought, but the omission to so notify such party shall not relieve the ‎party from whom contribution may be sought from any obligation it may have otherwise under ‎this section, except to the extent that the party from whom contribution may be sought is ‎materially prejudiced by such omission. The right to contribution provided herein shall be in ‎addition and not in derogation of any other right to contribution which the Agent may ‎have by statute or otherwise by law.‎.

    13 Termination Rights

    In addition to any other remedies which may be available to the Agent, the Agent (or any one of them) shall be entitled to terminate and cancel, without any liability on its part, all of its obligations under this Agreement and the obligations of any Person whom the Agent have solicited to purchase the Offered Securities, by notice in writing to that effect delivered to the Corporation prior to the Closing Time if: 

    
        39

    

    

    (a) the due diligence investigations performed by the Agent or its representatives reveal any material information or fact, which, in the sole opinion of the Agent, is materially adverse to the Corporation or its business, or materially adversely affects the price or value of the Offered Securities; 

    (b) there is a material change or a change in a material fact or new material fact shall arise or there should be discovered any previously undisclosed material fact required to be disclosed in the Prospectus or any amendment thereto, in each case, that has or would be expected to have, in the sole opinion of the Agent, a significant adverse change or effect on the business or affairs of the Corporation or on the market price or the value of the securities of the Corporation;

    (c) (i) there should develop, occur or come into effect or existence any event, action, state, condition (including without limitation, terrorism, accident or any outbreak or escalation of international hostilities or war) or major financial occurrence of national or international consequence including by way of COVID-19 (which, in the case of COVID-19, the parties are not aware of as of the date hereof only to the extent that there are material adverse developments related thereto on or after August 22, 2022) or a new or change in any law, regulation, or policy which in the sole opinion of the Agent, seriously adversely affects or involves or may seriously adversely affect or involve the financial markets or the business, operations or affairs of the Corporation and its Subsidiaries taken as a whole or the market price or value of the securities of the Corporation, (ii) any inquiry, action, suit, proceeding or investigation (whether formal or informal) is commenced, announced or threatened in relation to the Corporation or any one of the officers or directors of the Corporation or any of its principal shareholders where wrong-doing is alleged or any order is made by any federal, provincial, state, municipal or other governmental department, commission, board, bureau, agency or instrumentality including without limitation the CSE, NASDAQ or securities commission which involves a finding of wrong-doing, or (iii) any order, action or proceeding which cease trades or otherwise operates to prevent or restrict the trading of the common shares or any other securities of the Corporation is made or threatened by a regulatory authority;

    (d) the state of the financial markets in Canada or the United States is such that in the reasonable opinion of the Agent the Offered Securities cannot be profitably marketed;

    (e) the Corporation is in breach of a material term, condition or covenant of this Agreement or any representation or warranty given by the Corporation in this Agreement becomes or is false in any material respect;

    If any of the Agent terminate this Agreement pursuant to this Section there shall be no further liability on the part of such Agent or of the Corporation to such Agent except in respect of any liability which may have arisen or may thereafter arise under Sections 10, 11 or 12 hereof.

    14 Breach of Agreement

    All terms and conditions of this Agreement to be performed or satisfied by the Corporation shall be constituted as conditions and any material breach of, or failure by the Corporation to comply with, any term or condition of this Agreement shall entitle the Agent, acting reasonably, on behalf of the Purchasers of the Offered Securities, to terminate their respective obligations to purchase the Offered Securities by notice to that effect given to the Corporation prior to the Closing Time. In the event of any such termination, there shall be no further liability on the part of the Corporation or the Agent except in respect of any liability which may have arisen or may thereafter arise under Section 10, 11 or 12 hereof. The Agent may waive, in whole or in part, or extend the time for compliance with, any terms and conditions without prejudice to its rights in respect of any other terms and conditions or any other or subsequent breach or non-compliance provided, however, that any waiver or extension must be in writing and signed by the Agent in order to be binding upon it. 

    
        40

    

    

    15 Over-Allotment

    In connection with the distribution of the Units, the Agent and members of their selling group (if any) may over-allot or effect transactions which stabilize or maintain the market price of the Common Shares at levels above those which might otherwise prevail in the open market, in compliance with Applicable Securities Laws. Those stabilizing transactions, if any, may be discontinued at any time.

    16 Notices

    Any notice under this Agreement shall be given in writing and either delivered or telecopied to the party to receive such notice at the address or telecopy numbers indicated below:

    To the Corporation:

    Bright Minds BioSciences Inc. ‎

    ‎1500 - 1055 West Georgia Street

    Vancouver, BC V6E 4N7

    ‎Attention: Ian McDonald, President and Chief Executive Officer ‎

    Email: "****"

    with a copy to:

    McMillan LLP

    1500 - 1055 W Georgia St

    Vancouver, BC V6E 4N7

    Attention: Sasa Jarvis

    e-mail: "****"

    to the Agent:

    Eight Capital

    EY Tower

    100 Adelaide St. West, Suite 2900

    Toronto, Ontario M5H 1S3

    Attention: Stephen Delaney

    Email: "****"

    with a copy (but not as notice) to:

    DLA Piper (Canada) LLP

    Suite 6000, 1 First Canadian Place

    PO Box 367, 100 King St W

    Toronto, Ontario  M5X 1E2

    
        41

    

    

    Attention: Derek Sigel 

    Email: "****" 

    or to such other address as any of the parties may designate by notice given to the others.

    Any notice or other communication required or permitted under this Agreement shall be deemed to have been duly given and made if (a) in writing and served by personal delivery upon the party for whom it is intended; (b) if delivered by email upon the earlier of (i) with receipt confirmed or (ii) one Business Day following sending by email; or (c) if delivered by certified mail, registered mail or courier service, upon the earlier of (i) return receipt received to the party at the address set forth below, to the persons indicated or (ii) one Business Day following sending such certified mail, registered mail or courier service.

    17 Relationship between the Corporation and the Agent

    In connection with the services described herein, the Agent shall act as independent contractor, and any duties of the Agent arising out of this Agreement shall be owed solely to the Corporation. The Corporation acknowledges that each of the Agent is a securities firm that is engaged in securities trading and brokerage activities, as well as providing investment banking and financial advisory services, which may involve services provided to other companies engaged in businesses similar or competitive to the Business and that the Agent shall have no obligation to disclose such activities and services to the Corporation. The Corporation acknowledges and agrees that in connection with all aspects of the engagement contemplated hereby, and any communications in connection therewith, the Corporation, on the one hand, and the Agent and any of their respective affiliates through which they may be acting, on the other hand, will have a business relationship that does not create, by implication or otherwise, any fiduciary duty on the part of the Agent or such affiliates, and each party hereto agrees that no such duty will he deemed to have arisen in connection with any such transactions or communications. The Corporation acknowledges and agrees that it waives, to the fullest extent permitted by law, any claims the Corporation and its affiliates may have against any of the Agent for breach of fiduciary duty or alleged breach of fiduciary duty and agrees that the Agent shall have no liability (whether direct or indirect) to the Corporation or any of its affiliates in respect of such a fiduciary duty claim or to any person asserting a fiduciary duty claim on behalf of or in right of the Corporation, including stockholders, employees or creditors of the Corporation. Information which is held elsewhere within any of the Agent, but of which none of the individuals in the investment banking department or division of any of the Agent involved in providing the services contemplated by this Agreement actually has knowledge (or without breach of internal procedures can properly obtain) will not for any purpose he taken into account in determining any of the responsibilities of the Agent to the Corporation under this Agreement.

    18 Survival

    The obligations of the Corporation set out in Sections 10, 11 or 12 shall survive the purchase of the Offered Securities by the Purchasers and shall continue indefinitely in full force and effect unaffected by any subsequent disposition of the Offered Securities, and the Agent shall not be limited or prejudiced by any investigation made by or on behalf of the Agent in the course of the distribution of the Offered Securities. All other representations, warranties, covenants, and agreements of the Corporation contained herein or contained in any document submitted pursuant to this Agreement or in connection with the purchase of the Offered Securities shall survive the purchase of the Offered Securities by the Purchasers and shall continue in full force and effect unaffected by any subsequent disposition of the Offered Securities, for a period of two years from the Closing Date, and the Agent shall not be limited or prejudiced by any investigation made by or on behalf of the Agent in the course of the distribution of the Offered Securities. 

    
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    19 Entire Agreement

    This Agreement constitutes the entire agreement between the parties pertaining to the Offering and the transactions contemplated thereby and supersedes any and all prior negotiations, agreements and understandings between the parties pertaining to the Offering and the transactions contemplated thereby. There are no representations, warranties, covenants, agreements, conditions, indemnities or other provisions, whether oral or written, express or implied, collateral, statutory or otherwise, relating to the Offering or the transactions contemplated thereby except as expressly contained in this Agreement. No reliance is placed on any representation, warranty, opinion, advice or assertion of fact made either prior to, contemporaneous with, or after entering into this Agreement by any party or its directors, officers, employees, partners or agents, to any other party or its directors, officers, employees, partners or agents, except to the extent that the same has been reduced to writing and included as a term of this Agreement, and none of the parties has been induced to enter into this Agreement by reason of any such representation, warranty, opinion, advice or assertion of fact.

    20 Further Assurances.

    Each of the parties hereto shall do or cause to be done all such acts and things and shall execute or cause to be executed all such documents, agreements and other instruments as may reasonably be necessary or desirable for the purpose of carrying out the provisions and intent of this Agreement.

    21 Severability

    If any provision of this Agreement is determined to be void or unenforceable, in whole or in part, such void or unenforceable provision shall not affect or impair the validity of any other provision of this Agreement and shall be severable from this Agreement.

    22 Counterparts

    This Agreement may be executed in any number of counterparts and by fax or email all of which when taken together shall be deemed to be one and the same document and not withstanding its actual date of execution shall be deemed to be dated as of the date first above written.

    23 General

    The Agreement shall be governed by and interpreted in accordance with the laws of British Columbia and the federal laws of Canada applicable therein and time shall be of the essence hereof. Each party hereby irrevocably submits to the non-exclusive jurisdiction of the courts of British Columbia with respect to any matter arising hereunder or related thereto.

    24 Successors and Assigns

    The terms and provisions of this Agreement shall be binding upon and enure to the benefit of the Corporation and the Agent and their respective successors and permitted assigns.

    
        43

    

    

    25 Effective Date.

    This Agreement is intended to and shall take effect as of the date first set forth above, notwithstanding its actual date of execution or delivery.

    [Signature Page Follows.]

    
        44

    

    

    If the above is in accordance with your understanding, please sign and return to the Agent a copy of this letter, whereupon this letter and your acceptance shall constitute a binding agreement between the Corporation and the Agent.

    	 	EIGHT CAPITAL 

	 
	Per:	/s/ Stephen Delaney
	 	Name: Stephen Delaney
	 	Title: Principal, Managing Director
Co-Head of Investment Banking

    The above offer is hereby accepted and agreed to as of the date first above written.

    	
                 

            	
                BRIGHT MINDS BIOSCIENCES INC. 

            
	 
	
                Per:

            	
                /s/ Ian McDonald

            
	
                 

            	
                Name: Ian McDonald

            
	
                 

            	
                Title: CEO

            

    

    
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    SCHEDULE "A"

    U.S. OFFERS AND SALES

    Definitions

    As used in this Schedule "A", the following terms shall have the meanings indicated:

    	
                Accredited Investor

            	
                means an accredited investor meeting one or more of the criteria in Rule 501(a) of Regulation D; 

            
	 	 
	
                Accredited Investor Letter

            	
                means the  accredited investor investment letter in the form attached as Exhibit "A" to the U.S. Placement Memorandum. 

            
	 	 
	
                Directed Selling Efforts

            	
                means "directed selling efforts" as that term is defined in Regulation S; 

            
	 	 
	
                FINRA

            	
                means the Financial Industry Regulatory Authority, Inc.; 

            
	 	 
	
                Foreign Issuer

            	
                means a "foreign issuer" as that term is defined in Regulation S; 

            
	 	 
	
                Offshore Transaction

            	
                means an "offshore transaction" as that term is defined in Regulation S;

            
	 	 
	
                Substantial U.S. Market Interest

            	
                means "substantial U.S. market interest" as that term is defined in Regulation S; 

            
	 	 
	
                U.S. Exchange Act

            	
                means the United States Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder;

            
	 	 
	
                U.S. Affiliate 

            	
                means any U.S. registered broker-dealer affiliate of any Agent; 

            

    All other capitalized terms used herein without definition have the meanings ascribed thereto in the Agency Agreement to which this Schedule "A" is attached (the "Agency Agreement").

    A.        Representations, Warranties and Covenants of the Agent

    The Agent (on their own behalf and on behalf of their U.S. Affiliates) severally, but not jointly or jointly and severally, acknowledge that the Offered Securities have not been and will not be registered under the U.S. Securities Act or any U.S. state securities laws and may not be offered, sold or delivered, directly or indirectly, to any U.S. Person or any person within the United States, except to Accredited Investors pursuant to an available exemption from the registration requirements of the U.S. Securities Act and similar exemptions under applicable state securities laws. Accordingly, the Agent (on their own behalf and on behalf of their U.S. Affiliates) severally, but not jointly or jointly and severally, represent, warrant and covenant to the Corporation, as of the date hereof and as of the Closing Date, and will cause any U.S. Affiliate to comply with such representations, warranties and covenants, that:

    
        1

    

    

    1.  The Agent (on its own behalf and on behalf of its U.S. Affiliate) severally, but not jointly or jointly and severally, acknowledge that the Offered Securities have not been and will not be registered under the U.S. Securities Act or any U.S. state securities laws and may not be offered, sold or delivered, directly or indirectly, to any U.S. Person or any person within the United States, except to Accredited Investors pursuant to an available exemption from the registration requirements of the U.S. Securities Act and similar exemptions under applicable U.S. state securities laws. Accordingly, the Agent (on its own behalf and on behalf of its U.S. Affiliates) severally, but not jointly or jointly and severally, represent, warrant and covenant to the Corporation, as of the date hereof and as of the Closing Date, and will cause any U.S. Affiliate to comply with such representations, warranties and covenants, that:

    1. Except with respect to offers and sales in accordance with this Schedule "A" to Accredited Investors pursuant to an available exemption from registration under the U.S. Securities Act and available exemptions under applicable U.S. state securities laws, it has offered and sold, and will offer and sell, the Offered Securities forming part of its allotment only in an Offshore Transaction in accordance with Rule 903 of Regulation S. Accordingly, none of the Agent, their affiliates or any persons acting on its or their behalf, has made or will make (except as permitted in this Schedule "A"): (i) any offer to sell or any solicitation of an offer to buy, any Offered Securities to any U.S. Person or person in the United States; (ii) any sale of Offered Securities to any purchaser unless, at the time the buy order was or will have been originated, the purchaser was outside the United States, or the Agent, their affiliates or persons acting on its or their behalf reasonably believed that such purchaser was outside the United States and a non-U.S. Person; or (iii) any Directed Selling Efforts in the United States with respect to the Offered Securities.

    2. Any offer, sale or solicitation of an offer to buy Offered Securities that has been made or will be made by it or a U.S. Affiliate in the United States or to, or for the account or benefit of, U.S. Persons or persons in the United States was or will be made only to persons reasonably believed by it and its U.S. Affiliate to be Accredited Investors purchasing Offered Securities for their own accounts.

    3. It has not entered and will not enter into any contractual arrangement with respect to the distribution of the Offered Securities other than the Agency Agreement.

    4. All offers and sales of the Offered Securities in the United States to be completed with the assistance of the Agent will be effected through a U.S. Affiliate as agent for the Corporation, and such U.S. Affiliate is, and shall be on the date of each offer and sale of Offered Securities by it, duly registered as a broker-dealer pursuant to Section 15(b) of the U.S. Exchange Act and under the securities laws of each U.S. state in which such offers and sales of Offered Securities were or will be made (unless exempted from the respective state's broker-dealer registration requirements) and is, and shall be on the date of each offer and sale of Offered Securities by it, a member in good standing with FINRA. All offers and sales of Offered Securities in the United States by it were made and will be made by its U.S. Affiliate in compliance with all applicable United States federal and state broker-dealer requirements and all applicable rules of FINRA.

    5. Offers and sales of the Offered Securities by it and its U.S. Affiliate in the United States or to, or for the account or benefit of, a person in the United States or a U.S. Person have not been and will not be made (i) by any form of general solicitation or general advertising as used in Rule 502(c) of Regulation D or (ii) in any manner involving a public offering within the meaning of Section 4(a)(2) of the U.S. Securities Act.

    6. Immediately prior to soliciting offerees in the United States and at the time of completion of each sale to a purchaser in the United States, it, its U.S. Affiliate and any person acting on its or their behalf had reasonable grounds to believe and did believe that each offeree or purchaser, as applicable, was an Accredited Investor purchasing Offered Securities directly from the Corporation.

    
        2

    

    

    7. Prior to the completion of any sale of Offered Securities in the United States to an Accredited Investor, each such Accredited Investor will be required to execute and deliver to the Corporation, the Agent and the U.S. Affiliate, the Accredited Investor Letter.

    8. At least one Business Day prior to the time of delivery, it will provide the Corporation and its transfer agent with a list of all purchasers of the Offered Securities in the United States, together with their addresses (including state of residence), the number of Offered Securities purchased and the registration and delivery instructions for the Offered Securities.

    9. At the Closing, each Agent (together with its U.S. Affiliate) that participated in the offer or sale of Offered Securities in the United States will provide the Corporation with a certificate, substantially in the form of Appendix 1 to this Schedule "A", relating to the manner of the offer and sale of the Offered Securities in the United States, or will be deemed to have represented and warranted for the benefit of the Corporation that neither it nor its U.S. Affiliate offered or sold Offered Securities in the United States.

    10. None of such Agent, its affiliates or any person acting on its or their behalf has taken or will take, directly or indirectly, any action in violation of Regulation M under the U.S. Exchange Act in connection with the offer and sale of the Offered Securities.

    11. All purchasers of the Offered Securities in the United States shall be informed that the Offered Securities have not been and will not be registered under the U.S. Securities Act or any U.S. state securities laws, and the Offered Securities are being offered and sold to such purchasers pursuant to an available exemption from the registration requirements of the U.S. Securities Act and similar exemptions under applicable U.S. state securities laws.

    12. As of the Closing Date, with respect to Offered Securities offered and sold hereunder in reliance on Rule 506(b) of Regulation D ("Regulation D Securities"), the Agent represents that none of (i) the Agent or its U.S. Affiliate, (ii) the Agent's or its U.S. Affiliate's general partners or managing members, (iii) any of the Agent's or its U.S. Affiliate's directors, executive officers or other officers participating in the offering of the Regulation D Securities, or (iv) any of the Agent's or its U.S. Affiliate's general partners' or managing members' directors, executive officers or other officers participating in the offering of the Regulation D Securities (each, a "Dealer Covered Person" and, collectively, the "Dealer Covered Persons") is subject to any of the "Bad Actor" disqualifications described in Rule 506(d)(1) under Regulation D (a "Disqualification Event").

    B. Representations, Warranties and Covenants of the Corporation

    The Corporation represents, warrants, covenants and agrees that:

    1. The Corporation is, and as of the Closing Date will be, a Foreign Issuer and reasonably believed at the commencement of the Offering that there was no Substantial U.S. Market Interest with respect to the Offered Securities.

    2. The Corporation is not, and as a result of the sale of the Offered Securities contemplated hereby will not be, registered or required to be registered as an "investment company" under the United States Investment Company Act of 1940, as amended.

    
        3

    

    

    3. Except with respect to offers and sales in accordance with this Schedule "A" to Accredited Investors in reliance upon the exemption from registration afforded by Section 4(a)(2) of the U.S. Securities Act and/or Rule 506(b) of Regulation D, none of the Corporation, its affiliates or any person acting on its or their behalf (other than the Agent, their respective affiliates, any members of the selling group or any person acting on their behalf, in respect of which no representation, warranty or covenant is made) has made or will make: (i) any offer to sell, or any solicitation of an offer to buy, any Offered Securities to a U.S. Person or a person in the United States; or (ii) any sale of Offered Securities unless, at the time the buy order was or will have been originated, the purchaser is (x) outside the United States or (y) the Corporation, its affiliates, and any person acting on their behalf reasonably believe that the purchaser is outside the United States and is a not a U.S. Person.

    4. During the period in which the Offered Securities are offered for sale, neither it nor any of its affiliates, nor any person acting on its or their behalf (other than the Agent, their respective affiliates, any members of the selling group or any person acting on their behalf, in respect of which no representation, warranty or covenant is made) has engaged in or will engage in any Directed Selling Efforts in the United States with respect to the Offered Securities, or has taken or will take any action in violation of Regulation M under the U.S. Exchange Act with respect to the Offered Securities or that would cause the exemption from registration afforded by Section 4(a)(2) of the U.S. Securities Act and/or Rule 506(b) under Regulation D to be unavailable for offers and sales of Offered Securities in the United States in accordance with this Schedule "A", or the exclusion from registration afforded by Rule 903 of Regulation S to be unavailable for offers and sales of the Offered Securities outside the United States in accordance with the Agency Agreement and this Schedule "A".

    5. The Corporation has not sold, offered for sale or solicited any offer to buy, during the period beginning six months prior to the start of the Offering and will not sell, offer for sale or solicit any offer to buy during the period ending six months after the completion of the Offering, any of its securities in the United States in a manner that would be integrated with the Offering and would cause the exemption from registration relied upon in the Offering to be unavailable with respect to offers and sales of the Offered Securities pursuant to this Schedule "A" or the exclusion from registration provided by Rule 903 of Regulation S to be unavailable for offers and sales of the Offered Securities to persons outside of the United States who are not (a) U.S. Persons or (b) acting for the account or benefit of U.S. Persons or persons in the United States.

    6. The Corporation will not take any action that would cause the exemptions or exclusions provided (i) by Section 4(a)(2) of the U.S. Securities Act and/or Rule 506(b) under Regulation D and applicable state securities laws to be unavailable with respect to offers and sales of the Offered Securities by the Agent in accordance with this Schedule "A", or (ii) by Rule 903 of Regulation S to be unavailable with respect to offers and sales of the Offered Securities by the Corporation pursuant to this Schedule "A".

    7. The Corporation will, within the prescribed time periods, prepare and file any forms or notices required under the U.S. Securities Act or any U.S. state securities laws in connection with the sale of the Offered Securities.

    8. Neither the Corporation nor any of its predecessors or affiliates has been subject to any order, judgment or decree of any court of competent jurisdiction temporarily, preliminarily or permanently enjoining such person for failure to comply with Rule 503 of Regulation D.

    9. None of the Corporation or any of its predecessors or subsidiaries has had the registration of a class of securities under the U.S. Exchange Act revoked by the United States Securities and Exchange Commission pursuant to Section 12(j) of the U.S. Exchange Act and any rules and regulations promulgated under the U.S. Exchange Act.

    
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    10. As of the Closing Date, with respect to the Regulation D Securities, none of the Corporation, any of its predecessors, any "affiliated" (as such term is defined in Rule 501(b) of Regulation D) issuer of the Corporation, any director or executive officer of the Corporation, any other officer of the Corporation participating in the Offering of the Regulation D Securities, any beneficial owner of 20% or more of the Corporation's outstanding voting equity securities, calculated on the basis of voting power, or any promoter (as that term is defined in rule 405 under the U.S. Securities Act) connected with the Corporation in any capacity at the time of sale of the Regulation D Securities (each an "Issuer Covered Person" and, collectively, the "Issuer Covered Persons", other than any Dealer Covered Person,  as to whom no representation, warranty, acknowledgement, covenant or  agreement is made) is subject to any Disqualification Event. The Corporation has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification Event.  The Corporation is not disqualified from relying on Rule 506 under the U.S. Securities Act for any of the reasons stated in Rule 506(d) in connection with the issuance and sale of the Offered Securities. If applicable, the Corporation has furnished to each purchaser, a reasonable time prior to the date hereof, a description in writing of any matters that would have triggered disqualification under Rule 506(d) but which occurred before September 23, 2013, in each case, in compliance with the disclosure requirements of Rule 506(e). The Corporation has not paid and will not pay, nor is it aware of any other person that has paid or will pay, directly or indirectly, any remuneration to any person (other than the Agent, the U.S. Affiliate and any selling group member) for solicitation of purchasers of the Offered Securities.

    
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    Appendix 1 

    to Schedule "A"

    Agent's Certificate

    In connection with the private placement in the United States of the units (the "Units") of Bright Minds BioSciences Inc. ‎(the "Corporation") pursuant to the agency agreement dated as of August 25, 2022 (the "Agency Agreement") among the Corporation and the agents named therein, the undersigned does hereby certify as follows:

    (i) The U.S. Affiliate is on the date hereof, and was at the time of each offer and sale of Units in the United States made by it, (a) a duly registered broker or dealer under the U.S. Exchange Act and all applicable U.S. state securities laws (unless exempted from the respective state's broker-dealer registration requirements) and (b) a member of and is in good standing with FINRA;

    (ii) all offers and sales of the Units in the United States or to, or for the account or benefit of, U.S. Persons or persons in the United States were made only through the U.S. Affiliate as agent for the Corporation in accordance with the terms of the Agency Agreement, including Schedule "A" thereto;

    (iii) all purchasers of the Units in the United States or who are, or are purchasing for the account or benefit of, U.S. Persons or who were offered the Units in the United States have been informed that the Units have not been and will not be registered under the U.S. Securities Act and such securities are being offered and sold to such purchasers without registration in reliance on exemptions from the registration requirements of the U.S. Securities Act;

    (iv) immediately prior to offering, or soliciting any offers to buy, Units to any person in the United States, or to or for the account or benefit of, any U.S. Person, it had reasonable grounds to believe and did believe that each such offeree and purchaser was an Accredited Investor and, on the date hereof, it continues to believe that each such offeree or purchaser is an Accredited Investor;

    (v) prior to any sale of the Units in the United States or to, or for the benefit or account of, a U.S. Person, it caused each purchaser that is an Accredited Investor to execute and deliver to the Corporation an Accredited Investor Letter;

    (vi) neither the undersigned nor any of their affiliates have taken or will take any action that would constitute a violation of Regulation M under the U.S. Exchange Act in connection with the offer and sale of the Units; and

    (vii) all offers and sales of the Units have been conducted by it in accordance with the terms of the Agency Agreement, including Schedule "A" thereto.

    
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    Terms used in this certificate have the meanings given to them in the Agency Agreement unless otherwise defined herein.

    DATED this ___ day of ________________, 2022.

    	[AGENT]	 	[U.S. AFFILIATE]
	 	 	 	 	 
	By:	 	 	By:	 
	 	 	 	 	 
	 	Authorized Signing Officer	 	 	Authorized Signing Officer

    

    
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