Document:

Exhibit 10.6

 

Execution
Version

Strictly Confidential

 

THIS
SHARE SALE AND PURCHASE AGREEMENT (this “Agreement”) is made on the 13th day of September 2022

 

BETWEEN:

 

	(1)	UNIQUE
    LOGISTICS HOLDINGS LIMITED of Unit 05-06, 3/F., Tower 2, Enterprise Square, 9 Sheung Yuet Road, Kowloon Bay, Kowloon, Hong Kong
    (the “Vendor”); and
	 	 
	(2)	UNIQUE
    LOGISTICS INTERNATIONAL, INC. of 154-09 146th Avenue, Jamaica, New York 11434 (the “Buyer”).

 

(The
Vendor and the Buyer shall collectively be referred to as the “Parties”, and individually as the “Party”.)

 

IT
IS AGREED as follows:

 

	1.	INTERPRETATION
	 	 
	1.1	In
    this Agreement:

 

	 	“Affiliate”	means,
    with respect to any specified Person, any other Person who or which, directly or indirectly, controls, is controlled by, or is under
    common control with such specified Person, including, without limitation, any general partner, limited partner, member, officer,
    director or manager of such Person. For purposes of this definition, the terms “controls,” “controlled by,”
    or “under common control with” means the possession, direct or indirect, of power to direct or cause the direction of
    management or policies (whether through ownership of voting securities, by contract or otherwise);
	 	 	 
	 	“Applicable
    Benefit Laws”	means
    all Laws, including those of a jurisdiction outside of the United States, applicable to any Employee Plan;
	 	 	 
	 	“Acquired
    Company”	means
    Shenzhen Unique Logistics International Limited;
	 	 	 
	 	“Business
    Day”	means
    a weekday on which banks are open for general banking business in New York and Hong Kong;
	 	 	 
	 	“Bulletin
    7”	means
    Notice Regarding Certain Enterprise Income Tax Matters on Indirect Transfer of Properties by Non-Tax Resident Enterprises (Public
    Notice [2015] No.7) issued by the State Administration of Taxation of the People’s Republic of China (国家税务总局关于非居民企业间接转让财产企业所得税若干问题的公告),
    effective as of 3 February 2015 (including subsequent amending provisions, if any);
	 	 	 
	 	“Board”	means
    the board of directors of the Company;

 

    	 

    	 

    

 

	 	“Closing”	means
    completion of the sale and purchase of the Sale Shares in accordance with Clause 4;
	 	 	 
	 	“Closing
    Date”	has
    the meaning given to it in Clause 4.1;
	 	 	 
	 	“Company”	means
    Unique Logistics International (H.K.) Limited, a company incorporated in Hong Kong with limited liability;
	 	 	 
	 	“Confidential
    Information”	has
    the meaning given to it in Clause 7.1;
	 	 	 
	 	“Contract”	means
    any written, oral or other agreement, contract, subcontract, lease, understanding, instrument, note, warranty, license, sublicense,
    insurance policy, benefit plan or legally binding commitment or undertaking of any nature, whether express or implied;
	 	 	 
	 	“Constituent
    Document”	means
    articles or certificate of incorporation, bylaws or other constitutive documents;
	 	 	 
	 	“Constitutional
    Documents”	means
    the constitutional documents of the Company (including the memorandum and articles of association of the Company, if any), as may
    be amended and restated from time to time;
	 	 	 
	 	“Disclosure
    Schedule”	means
    the disclosure schedule set out in Schedule 3;
	 	 	 
	 	“Employee
    Plan”	means
    any employee benefit plan including: (i) any (a) nonqualified deferred compensation or retirement plan or arrangement or superannuation
    plan; (b) qualified defined contribution retirement plan or arrangement; or (c) qualified defined benefit retirement plan or arrangement,
    which is an “employee pension benefit plan”; (ii) any “employee welfare benefit plan” or material fringe
    benefit plan or program; or (iii) any share purchase, share option, profit sharing, deferred compensation, welfare, pension, retirement,
    severance pay, employment, change-in-control, vacation pay, equity awards, salary continuation, sick leave, excess benefit, bonus
    or other incentive compensation, life insurance, or other employee benefit plan, contract, program, policy or other arrangement.
    For the avoidance of doubt, “Employee Plan” does not include any employee benefit plan that is mandatory under applicable
    Law (such as the Hong Kong mandatory provident fund plan);
	 	 	 
	 	“Encumbrance”	means
    any claim, charge, mortgage, lien, option, hypothecation, security interest, title retention, right of pre-emption, right of first
    refusal or any agreement, arrangement or obligation to create any of the foregoing, other than liens arising by operation of law
    or restrictions set out in the Constitutional Documents (if any);

 

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	 	“Entity”	means
    any corporation (including any non-profit corporation), general partnership, limited partnership, limited liability partnership,
    joint venture, estate, trust (including any limited liability company or joint stock company), firm or other enterprise, association,
    organization or entity;
	 	 	 
	 	“Environmental
    Law”	means
    any Law relating to the environment, occupational health and safety, or exposure of persons or property to Materials of Environmental
    Concern, including any statute, regulation, administrative decision or order pertaining to: (a) the presence of or the treatment,
    storage, disposal, generation, transportation, handling, distribution, manufacture, processing, use, import, export, labeling, recycling,
    registration, investigation or remediation of Materials of Environmental Concern or documentation related to the foregoing; (b) air,
    water and noise pollution; (c) groundwater and soil contamination; (d) the release, threatened release, or accidental release into
    the environment, the workplace or other areas of Materials of Environmental Concern, including emissions, discharges, injections,
    spills, escapes or dumping of Materials of Environmental Concern; (e) transfer of interests in or control of real property which
    may be contaminated; (f) community or worker right- to-know disclosures with respect to Materials of Environmental Concern; (g) the
    protection of wild life, marine life and wetlands, and endangered and threatened species; (h) storage tanks, vessels, containers,
    abandoned or discarded barrels and other closed receptacles; and (i) health and safety of employees and other persons;
	 	 	 
	 	“Escrow
    Agent”	means
    Lucosky Brookman LLP;
	 	 	 
	 	“Financial
    Cut-off Date”	means
    11:59 p.m. on December 31, 2021;
	 	 	 
	 	“Government
    Bid”	means
    any quotation, bid or proposal submitted to any Governmental Body or any proposed prime contractor or higher-tier subcontractor of
    any Governmental Body;
	 	 	 
	 	“Government
    Contract”	means
    any prime contract, subcontract, letter contract, purchase order or delivery order executed or submitted to or on behalf of any Governmental
    Body, or under which any Governmental Body otherwise has or may acquire any right or interest;
	 	 	 
	 	“Governmental
    Authorization”	means
    any (a) approval, permit, license, certificate, certificate of approval, franchise, permission, clearance, registration, qualification
    or other authorization issued, granted, given or otherwise made available by or under the authority of any Governmental Body or pursuant
    to any Law, or (b) right under any Contract with any Governmental Body;

 

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	 	“Governmental
    Body”	means
    any nation or government or any federation, province or state or any other political subdivision thereof; any entity, authority or
    body exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, including
    any governmental authority, agency, department, board, commission or instrumentality of any jurisdiction, including any department,
    agency or instrumentality of any government or political subdivision thereof; any court or arbitral tribunal and any self-regulatory
    organisation; and the governing body of any securities exchange, in each case having competent jurisdiction;
	 	 	 
	 	“Indebtedness”	means,
    without duplication, the aggregate of the following: (a) all obligations for borrowed money (including the current portion thereof
    and all sums due on early termination and repayment or redemption calculated to the Closing Date), whether or not contingent, or
    issued or incurred in substitution or exchange for any such liability for borrowed money, or extensions of credit (including under
    credit cards, bank overdraw and advances), (b) all obligations evidenced by bonds, debentures, notes or other similar instruments
    (and including all sums due on early termination and repayment or redemption calculated to the Closing Date), (c) all obligations
    to pay the deferred purchase price of property or services, except trade accounts payable arising in the ordinary course of business
    consistent with past practice, (d) all obligations as lessee under leases that have been or should be, in accordance with GAAP, IFRS
    or local accounting rules, recorded as capital leases in respect of which the Company is liable as a lessee, (e) all obligations
    of others secured by a Lien on any asset of the Company (including accounts and contract rights), whether or not such obligations
    are assumed, (f) all obligations, contingent or otherwise, directly or indirectly guaranteeing any obligations of any other Person,
    all obligations to reimburse the issuer in respect of letters of credit or under performance or surety bonds, or other similar obligations;
    all obligations under which the Company has agreed (contingently or otherwise) to purchase or otherwise acquire the liability of
    any other Person or in respect of which the Company has otherwise assured a creditor against loss, (g) all obligations in respect
    of bankers’ acceptances, note purchases or similar facilities and under reverse repurchase agreements, (h) all obligations
    in respect of futures contracts, other financial contracts and other similar obligations (determined on a net basis as if such contract
    or obligation was being terminated early on such date), (i) the amount of any termination payments in connection with the payment
    in full of any obligations for borrowed money, (j) accrued employment obligations, including without limitation, accrued salary,
    accrued vacation and accrued bonuses, (k) deferred revenue, (l) all obligations created or arising under any conditional sale or
    other title retention agreement with respect to property acquired by the Company (even though the rights and remedies of the Company
    or lender under such agreement in the event of default are limited to repossession or sale of such property), (m) all obligations
    to purchase, redeem, retire or otherwise acquire for value any ownership interests or share capital of the Company or any rights
    to acquire any ownership interests or share capital of the Company, valued, in the case of redeemable ownership interests or share
    capital, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends, (n) any obligations
    under any interest rate, foreign exchange, currency, commodity, credit or equity swap, cap, collar, floor, option, forward or other
    hedging agreement or derivative contract, net of any obligations to the Company thereunder, and (o) amounts due to the Buyer or its
    subsidiaries and other. For purposes of this Agreement, “Indebtedness” includes (i) any and all accrued interest, fees,
    change of control payments, prepayment premiums, make whole premiums or penalties and fees or expenses actually incurred (including
    attorneys’ fees) associated with the repayment of any Indebtedness, and (ii) any and all amounts of the nature described in
    clauses (a) through (o) above owed by the Company to any of its Affiliates, including any of the shareholders of the Company;

 

    	- 4 -

     

    

 

	 	“IFRS”	means
    the International Financial Reporting Standards;
	 	 	 
	 	“Intellectual
    Property Rights”	means
    all (a) foreign and domestic patents, patent applications, patent disclosures and inventions, (b) Internet domain names, trademarks,
    service marks, trade dress, trade names, logos and corporate or Company names (both foreign and domestic) and registrations and applications
    for registration thereof together with all of the goodwill associated therewith, (c) copyrights (registered or unregistered) and
    copyrightable works (both foreign and domestic) and registrations and applications for registration thereof, (d) mask works and registrations
    and applications for registration thereof, (e) computer software, data, data bases and documentation thereof, including rights to
    third party software used in the business, (f) trade secrets and other Confidential Information (including ideas, formulas, compositions,
    inventions (whether patentable or unpatentable and whether or not reduced to practice), know-how, manufacturing and production processes
    and techniques, research and development information, drawings, specifications, designs, plans, proposals, technical data, copyrightable
    works, financial and marketing plans and customer and supplier lists and information), (g) other intellectual property rights, and
    (h) copies and tangible embodiments thereof (in whatever form or medium);
	 	 	 
	 	“Labor
    Laws”	means
    all Laws governing or concerning labor relations, unions and collective bargaining, conditions of employment, termination of employment,
    employee classification, background checks, employment discrimination and harassment, wages, hours, meal and rest periods, accrual
    and payment of vacation pay and paid time off, or occupational safety and health and the payment and withholding of Taxes and other
    sums as required by the appropriate Governmental Body;
	 	 	 
	 	“Law”	means
    any applicable law, regulation, ruling, judgment, order or decree of any Governmental Body, and any applicable statute, regulation,
    proclamation, ordinance or by-law in any jurisdiction;
	 	 	 
	 	“Leased
    Real Property”	means
    all leasehold or subleasehold estates and other rights to use or occupy any land, buildings, structures, improvements, fixtures or
    other interest in real property held by the Company;
	 	 	 
	 	“Legal
    Proceeding”	means
    any ongoing or threatened action, suit, litigation, arbitration, proceeding (including any civil, criminal, administrative, investigative
    or appellate proceeding), hearing, order, inquiry, audit, examination or investigation commenced, brought, conducted or heard by
    or before, or otherwise involving, any court or other Governmental Body or any arbitrator or arbitration panel;
	 	 	 
	 	“Licensed
    Intellectual Property”	means
    Intellectual Property licensed to the Company;
	 	 	 
	 	“Lien”	means
    any lien, pledge, hypothecation, charge, mortgage, security interest, encumbrance, claim, infringement, interference, option, right
    of first refusal, preemptive right, community property interest or restriction of any nature affecting property, real or personal,
    tangible or intangible, including any restriction on the voting of any security, any restriction on the transfer of any security
    or other asset, any restriction on the receipt of any income derived from any asset, any restriction on the use of any asset, any
    restriction on the possession, exercise or transfer of any other attribute of ownership of any asset, any lease in the nature thereof
    and any filing of or agreement to give any financing statement under the U.S. Uniform Commercial Code (or equivalent statute of any
    jurisdiction);

 

    	- 5 -

     

    

 

	 	“Material
    Adverse Effect”	means
    any state of facts, change, event, effect, occurrence or circumstance that, individually or in the aggregate (considered together
    with all other state of facts, change, event, effect, occurrence or circumstance) has, has had or could reasonably be expected to
    have or give rise to a material adverse effect on (a) the business, condition (financial or otherwise), results of operations, prospects,
    capitalization, assets, liabilities, operations or financial performance of the Company, (b) the ability of the Vendor to consummate
    the transactions contemplated by this Agreement or to perform any of its obligations under this Agreement, or (c) Buyer’s ability
    to vote, receive dividends with respect to or otherwise exercise ownership rights with respect to the shares in the Company;
	 	 	 
	 	“Materials
    of Environmental

    Concern”	means
    any: pollutants, contaminants or hazardous substances, pesticides, solid wastes and hazardous wastes, chemicals, other hazardous,
    radioactive or toxic materials, oil, petroleum and petroleum products (and fractions thereof), or any other material (or article
    containing such material) listed or subject to regulation under any Law due to its potential, directly or indirectly, to harm the
    environment or the health of humans or other living beings;
	 	 	 
	 	“Ordinary
    Shares”	means
    the ordinary shares in the share capital of the Company, with rights set out in the Constitutional Documents;
	 	 	 
	 	“Owned
    Real Property”	means
    all land, together with all buildings, structures, improvements and fixtures located thereon, and all easements and other rights
    and interests appurtenant thereto, owned by the Company;
	 	 	 
	 	“Permitted
    Lien”	means
    any (a) Lien for Taxes not yet due and payable, (b) Liens of carriers, warehousemen, mechanics, materialmen and repairmen incurred
    in the ordinary course of business consistent with past practice and not yet delinquent, and (c) in the case of real property, zoning,
    building, occupancy or other restrictions, variances, covenants, rights of way, encumbrances, easements and other minor irregularities
    in title, none of which, individually or in the aggregate, (i) interfere in any material respect with the present use of or occupancy
    of the affected parcel by the Company, (ii) have more than an immaterial effect on the value thereof or its use, or (iii) would impair
    the ability of such parcel to be sold for its present use;

 

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	 	“Person”	means
    any individual, Entity, trust, Governmental Body or other organization;
	 	 	 
	 	“Real
    Property”	means
    all Owned Real Property and the Leased Real Property;
	 	 	 
	 	“Related
    Party”	means
    a party, whether an individual, corporation, partnership, association, limited liability company or any other form or business association
    or other entity whatsoever, if an individual, on the one hand, related by blood, marriage, ownership or contract, and a corporation,
    partnership, association, limited liability company or any other form or business association or other entity whatsoever, on the
    other hand, by ownership or contract, through which the party has a relationship of ownership or other interest with the Vendor so
    that the party will actually or by effect receive or control a portion of the benefit, profit or other consideration from performance
    of a Vendor contract with the party receiving an amount that meets or exceed five percent (5%) of the total contract amount;
	 	 	 
	 	“Representatives”	means,
    with respect to a Person, the officers, directors, employees, agents, attorneys, accountants, advisors and representatives of such
    Person;
	 	 	 
	 	“PRC”	means
    the People’s Republic of China but, solely for the purposes of this Agreement, does not include Hong Kong, Macao or Taiwan;
	 	 	 
	 	“PRC
    Tax Authority”	means
    the relevant tax authority in the People’s Republic of China;
	 	 	 
	 	 	 
	 	“PRC
    Withholding Tax”	means
    the amount of tax assessed by the PRC Tax Authority as due and owed under Bulletin 7 (if any) that the Vendor is required to pay;
	 	 	 
	 	“Sale
    Shares”	has
    the meaning given to it in Clause 2.1;
	 	 	 
	 	“Shares”	means
    the shares of the Company;

 

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	 	“Tax”	means
    any tax (including income, gross receipts, windfall profit, occupation, license, registration, production, intangibles, inventory
    and merchandise, commercial activities, capital gains, share capital, capital structure, transfer, value-added, franchise, excise,
    payroll, employment, severance, social security, unemployment, disability, workers’ compensation, environmental, ad valorem,
    alternative, minimum, add-on, escheat or unclaimed property, sales, use, real and personal property, estimated, stamp, recording,
    withholding and other taxes), fee, impost, levy, assessment, tariff, duty (including any customs duty) or deficiency, and any other
    related charge or amount of any kind whatsoever (including any fine, penalty, interest, or addition to tax), whether payable directly
    or by withholding and whether or not disputed, and any liability for any of the foregoing pursuant to US Treas. Reg. §1-1502-6
    (or any similar provision of state, local or foreign tax legal requirements), as transferee or successor, by contract or otherwise,
    imposed, assessed, or collected by or under the authority of any Governmental Body or payable pursuant to any tax-sharing agreement
    or any other Contract relating to the sharing or payment of any such tax, fee, impost, levy, assessment, tariff, duty or deficiency;
	 	 	 
	 	“Tax
    Returns”	means
    any and all reports, returns, or declarations relating to Taxes filed or required to be filed with any Governmental Body, including
    any schedule or attachment thereto, including any amendment thereof;
	 	 	 
	 	“US$”	means
    the United States dollar, the lawful currency of the United States of America.

 

	1.2	In
                                            this Agreement:

 

		(a)	references
                                            to a person include any individual, firm, company, government, state or agency of a state
                                            or any association, trust, joint venture, consortium, partnership (whether or not having
                                            separate legal personality), a body corporate and an unincorporated association of persons;

 

		(b)	references
                                            to a Party include references to its successors and permitted assignees;

 

		(c)	unless
                                            the context requires otherwise, words incorporating the singular shall include the plural
                                            and vice versa and words importing a gender shall include every gender;

 

		(d)	references
                                            herein to Clauses, Recitals, Schedules and Exhibits are to clauses and recitals of, and schedules
                                            and exhibits to, this Agreement; and all Recitals and Schedules form an integral part of
                                            this Agreement and have the same force and effect as if expressly set out in the body of
                                            this Agreement, and any reference to this Agreement includes the Recitals and the Schedules;

 

		(e)	all
                                            references to “$” contained in this Agreement shall refer to United States Dollars
                                            unless otherwise stated; and

 

		(f)	the
                                            following exchange rates shall be adopted:

 

	Currency	 	Exchange
    Rate
	USD
    to HKD	 	1:7.8288
	USD
    to RMB	 	1:6.3618

 

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	1.3	In
                                            this Agreement, any reference, express or implied, to an enactment includes references to:

 

		(a)	that
                                            enactment as re-enacted, amended, extended or applied by or under any other enactment (before
                                            or after the signature of this Agreement);

 

		(b)	any
                                            enactment which that enactment re-enacts (with or without modification);

 

		(c)	any
                                            subordinate legislation made (before or after the signature of this Agreement) under any
                                            enactment, as re-enacted, amended, extended or applied as described in Clause 1.3(a) above,
                                            or under any enactment referred to in Clause 1.3(b) above; and

 

		(d)	provided
                                            that no such enactment or subordinate legislation made after the date of this Agreement shall
                                            increase the liability of any Party under this Agreement, and “enactment”
                                            includes any legislation in any jurisdiction.

 

	1.4	The
                                            table of contents and headings in this Agreement do not affect its interpretation.

 

	2.	SALE
                                            AND PURCHASE

 

	2.1	At
                                            Closing, subject to the terms of this Agreement, the Vendor shall sell to the Buyer, and
                                            the Buyer shall purchase from the Vendor, 1,000,000 Ordinary Shares (the “Sale Shares”)
                                            of the Company together with all rights attaching or accruing to them at and from Closing.

 

	2.2	The
                                            consideration payable by the Buyer for the purchase of the Sale Shares from the Vendor shall
                                            be US$2,300,000 (the “Sale Price”).

 

	2.3	For
                                            the avoidance of doubt, the Parties agree that whilst the Company currently holds 50% of
                                            beneficial interest over the shares of China Wealth Logistics Limited (“China Wealth”)
                                            and 100% of the equity interest in Shenzhen Unique Logistics International Limited (“SULII”),
                                            and SULII currently holds 100% of the equity interest of Across Logistics (Shenzhen) Limited
                                            (“Across Shenzhen”) and 50% of the equity interest in Uniquorn International
                                            Logistics Co., Ltd., (“Uniquorn”), (a) all of the beneficial interest
                                            in China Wealth held by the Company, (b) 30% of the equity interest in SULII held by the
                                            Company, and (c) all of the equity interest held by SULII in each of Across Shenzhen and
                                            Uniquorn (collectively, the “Excluded Interests”) will be transferred
                                            to a Person or Person(s) nominated by the Vendor prior to, at or subsequent to the Closing.
                                            Each of Buyer and Vendor hereby agree to execute and cause to be delivered to each other
                                            Party to this Agreement such instruments and other documents, and shall take such other actions,
                                            as such other Party may reasonably request (prior to, at or after the Closing) for the purpose
                                            of carrying out or evidencing the transfer of the Excluded Interests. For the avoidance of
                                            doubt, such transfer of the Excluded Interests shall not lead to any adjustment of the Sale
                                            Price. The Vendor and the Buyer agree that they shall use their reasonable commercial efforts
                                            to procure the Company and SULII to pay to the Vendor any purchase price received in respect
                                            of the transfer of the Excluded Interests. Other than in this Clause 2.3, all references
                                            to the Company (or its subsidiaries) (including through any representations and warranties
                                            of the Vendor) in this Agreement shall be deemed to exclude such Excluded Interests.

 

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	3.	CONDITIONS

 

	3.1	Closing
                                            is conditional on the following conditions (the “Conditions”) being satisfied,
                                            namely:

 

		(a)	the
                                            Vendor having obtained all other necessary governmental, regulatory and corporate authorisations
                                            as well as third party approvals and consents, for the entering into of this Agreement and
                                            the performance of the obligations undertaken by the Vendor hereunder. For the avoidance
                                            of doubt, any costs arising out of or in connection with the obtaining of any authorisations,
                                            approvals or consents required by the Vendor under this Clause 3.1(a) shall be borne solely
                                            by the Vendor;

 

		(b)	the
                                            representations and warranties of the Vendor in Clause 6.1 hereof shall be true and correct
                                            on and as of the Closing Date with the same effect as though made at and as of such date;

 

		(c)	the
                                            Buyer having obtained all necessary governmental, regulatory and corporate authorisations
                                            as well as third party approvals and consents, for the entering into of this Agreement and
                                            the performance of the obligations undertaken by the Buyer hereunder. For the avoidance of
                                            doubt, any costs arising out of or in connection with the obtaining of any authorisations,
                                            approvals or consents required by the Buyer under this Clause 3.1(c) shall be borne solely
                                            by the Buyer; and

 

		(d)	the
                                            representations and warranties of the Buyer in Clause 6.2 hereof shall be true and correct
                                            on and as of the Closing Date with the same effect as though made at and as of such date.

 

	3.2	The
                                            Conditions set out in Clauses 3.1(a) and (b) may be waived by the Buyer (in part or in whole)
                                            in writing.

 

	3.3	The
                                            Conditions set out in Clauses 3.1(c) and (d) may be waived by the Vendor (in part or in whole)
                                            in writing.

 

	4.	CLOSING

 

	4.1	Subject
                                            to the satisfaction (or waiver pursuant to Clauses 3.2 and 3.3) of the Conditions set out
                                            in Clause 3.1, Closing shall take place on a date as the Parties may mutually agree in writing
                                            (the “Closing Date”).

 

	4.2	At
                                            or before Closing:

 

		(a)	the
                                            Vendor shall deliver to the Escrow Agent:

 

		(i)	the
                                            share certificates representing the Sale Shares or an indemnity, in a form reasonably acceptable
                                            to the Buyer, for any lost certificates;

 

		(ii)	duly
                                            executed instrument of transfer in favour of the Buyer in respect of the Sale Shares;

 

		(iii)	duly
                                            executed sold note in favour of the Buyer in respect of the Sale Shares;

 

		(iv)	a
                                            cheque in favour of “The Government of the Hong Kong Special Administrative Region”
                                            on account of the Vendor’s share of the Hong Kong stamp duty in the amount of HK$23,324.5
                                            payable by the Vendor upon the sale and purchase of the Sale Shares;

 

		(v)	certified
                                            copy of the resolutions of the Board of Directors of the Vendor authorising the entry into
                                            and execution of this Agreement, and approving all matters contemplated under this Agreement;

 

    	- 10 -

     

    

 

		(vi)	certified
                                            copy of the resolutions of the Board of Directors of the Company approving the transfer of
                                            the Sale Shares as contemplated under this Agreement; and

 

		(b)	the
                                            Buyer shall deliver to the Escrow Agent:

 

		(i)	the
                                            instrument of transfer duly executed by the Buyer in respect of the Sale Shares;

 

		(ii)	the
                                            bought note duly executed by the Buyer in respect of the Sale Shares; and

 

		(iii)	certified
                                            copy of the resolutions of the Board of Directors of the Buyer authorising the entry into
                                            and execution of this Agreement, and approving all matters contemplated under this Agreement.

 

	4.3	At
                                            Closing, upon delivery of the documents in Clause 4.2(a) by the Vendor to the Escrow Agent,
                                            the Buyer shall transfer, by wire transfer of immediately available U.S funds, the Sale Price
                                            to the Vendor in an account designated by the Vendor.

 

	4.4	Upon
                                            receipt of the Sale Price by the Vendor, the Vendor shall provide written confirmation to
                                            the Escrow Agent that the documents may be released, and the Escrow Agent may release the
                                            documents it held in escrow.

 

	5.	POST-CLOSING

 

	5.1	The
                                            Buyer shall as soon as reasonably practicable after Closing submit all requisite documents
                                            in relation to the transfer of the Sale Shares to the appropriate Governmental Body for assessment
                                            of stamp duty. The Vendor shall, at Closing, provide to the Buyer copies of the memorandum
                                            and articles of association of the Company, the Company’s most recent annual accounts
                                            and any subsequent management accounts of the Company and shall, following Closing, promptly
                                            provide to the Buyer any other documentation (certified as being true copies where so requested)
                                            which the Buyer may reasonably request in connection with the submission to the appropriate
                                            Governmental Body contemplated by this Clause 5.1. All fixed and ad valorem stamp duty payable
                                            in respect of the transfer of the Sale Shares shall be borne by the Vendor and the Buyer
                                            in equal shares. If 50% of the total stamp duty amount adjudged payable by the appropriate
                                            Governmental Body consequent on the submission contemplated by this Clause 5.1 (the “Adjudged
                                            Vendor Stamp Duty Amount”) is higher than the amount of the cheque in Clause 4.2(a)(iv)
                                            (the “Estimated Vendor Stamp Duty Amount”), the Vendor shall provide to
                                            the Buyer a cheque in favour of “The Government of the Hong Kong Special Administrative
                                            Region” equal to the difference between the Adjudged Vendor Stamp Duty Amount and the
                                            Estimated Vendor Stamp Duty Amount immediately on demand by the Buyer. If the Estimated Vendor
                                            Stamp Duty Amount is higher than the Adjudged Vendor Stamp Duty Amount, the Buyer shall forthwith
                                            return to the Vendor the cheque referred to in Clause 4.2(a)(iv) and the Vendor shall provide
                                            to the Buyer a cheque in favour of “The Government of the Hong Kong Special Administrative
                                            Region” equal to the Adjudged Vendor Stamp Duty Amount immediately on demand by the
                                            Buyer.

 

	6.	WARRANTIES

 

	6.1	The
                                            Vendor hereby warrants and undertakes to and with the Buyer with respect to itself and the
                                            Sale Shares they hold that the warranties set out in Schedule 1 are true and accurate on
                                            the date hereof and on the Closing Date.

 

	6.2	The
                                            Buyer hereby warrants and undertakes to and with the Vendor that the warranties set out in
                                            Schedule 2 are true and correct on the date hereof and on the Closing Date.

 

    	- 11 -

     

    

 

	6.3	Notwithstanding
                                            any contrary provision in this Agreement, any representation or warranty set forth in this
                                            Agreement is qualified by the conditions that all representation and warranties are made
                                            and given to the best of knowledge and belief of the party giving the relevant representation
                                            and warranties.

 

	6.4	The
                                            Disclosure Schedule constitutes formal disclosure to the Buyer for the purposes of this Agreement
                                            of the facts and circumstance which are or may be inconsistent with the representations and
                                            warranties under this Agreement. Such facts and circumstances will be deemed to qualify the
                                            representations and warranties accordingly. Notwithstanding that reference may in some cases
                                            be made in the Disclosure Schedule to particular warranties or other provisions of this Agreement,
                                            all disclosures are made on the basis that they are made against all of the warranties and
                                            representations and the Buyer shall not be entitled to claim that any fact or matter has
                                            not been disclosed to it by reason of the relevant disclosure not being specifically related
                                            to any one or more of the representations or warranties or other provisions.

 

	7.	CONFIDENTIALITY

 

	7.1	The
                                            terms and conditions of this Agreement (collectively, the “Confidential Information”),
                                            including their existence, shall be considered confidential information and shall not be
                                            disclosed by any of the Parties to any other person except that (i) each Party, as appropriate,
                                            may disclose any of the Confidential Information to its current or bona fide prospective
                                            investors, prospective permitted transferees, employees, investment bankers, lenders, accountants
                                            and attorneys, in each case only where such persons are under appropriate nondisclosure obligations;
                                            (ii) each Party may disclose any of the Confidential Information to its fund manager, its
                                            associated companies and the employees thereof so long as such persons are under appropriate
                                            nondisclosure obligations; (iii) each Party may disclose the Confidential Information to
                                            the extent required under applicable Law for the purpose of Closing; and (iv) if any Party
                                            is requested or becomes legally compelled (including without limitation, pursuant to securities
                                            Laws) to disclose the existence or content of any of the Confidential Information in contravention
                                            of the provisions of this Clause 7.1, such Party shall, to the extent permitted by law, promptly
                                            provide the other Party with written notice of that fact so that such other Party may seek
                                            a protective order, confidential treatment or other appropriate remedy and in any event shall
                                            furnish only that portion of the information that is legally required and shall exercise
                                            reasonable efforts to obtain reliable assurance that confidential treatment will be accorded
                                            such information.

 

	7.2	Except
                                            as required by Law, by any Governmental Body or by any relevant stock exchange on which the
                                            shares of a Party or its parent company are listed or as otherwise agreed by all the Parties,
                                            no publicity release or public announcement concerning the relationship or involvement of
                                            the Parties shall be made by any Party.

 

	8.	EFFECTIVE
                                            DATE AND TERMINATION

 

	8.1	Effective
                                            Date; Termination

 

This
Agreement shall become effective upon execution by all of the Parties and shall continue in force until terminated in accordance with
Clause 8.2(a).

 

	8.2	Termination
                                            of Agreement

 

		(a)	This
                                            Agreement may be terminated at any time prior to the Closing Date by mutual written consent
                                            of the Parties.

 

		(b)	Save
                                            for the express termination rights in Clause 8.2(a), no Party shall be entitled to terminate
                                            or rescind this Agreement whether before or after Closing.

 

    	- 12 -

     

    

 

		(c)	Upon
                                            the termination of this Agreement, all rights and obligations of the Parties shall cease
                                            to have effect, provided however that:

 

		(i)	the
                                            termination of this Agreement shall be without prejudice to all rights and remedies available
                                            to each Party in respect of any breach by the other Party of obligations under or in respect
                                            of this Agreement prior to the termination of this Agreement;

 

		(ii)	the
                                            following shall survive the termination of this Agreement: Clause 1 (Interpretation), Clause
                                            7 (Confidentiality), Clause 8 (Effective Date and Termination), Clause 11 (Notices), Clause
                                            12 (Costs), and Clause 15 (Governing Law and Dispute Resolution).

 

	9.	TAX
                                            MATTERS

 

	9.1	Tax
                                            indemnification

 

		(a)	The
                                            Vendor shall defend, hold harmless and indemnify the Buyer, the Company and/or the Acquired
                                            Company from and against any and all PRC Taxes imposed on the Buyer or the Acquired Company
                                            after Closing in connection with the transfer of the Excluded Interests.

 

		(b)	The
                                            Vendor shall defend, hold harmless and indemnify the Buyer, the Company and/or the Acquired
                                            Company from and against and in respect of any and all loses, damages, charges, costs and
                                            expenses, based upon, arising out of or incurred by the Vendor as a result of any breach
                                            of, or inaccuracy in, the Tax warranties set out in Schedule 1.

 

		(c)	On
                                            demand by the Buyer, the Vendor agrees to indemnify the Buyer, the Company and/or the Acquired
                                            Company against any and all Tax of the Company and/or the Acquired Company attributable to
                                            the operation of the Company and/or the Acquired Company prior to or at the Closing, including,
                                            any and all taxes on capital gain on the transfer of the Excluded Interest, (“Pre-Closing
                                            Taxes”) and pay the Buyer an amount equal to any Pre-Closing Taxes payable or suffered
                                            by the Company and/or the Acquired Company which arises by reference to any profits earned,
                                            accrued, received or otherwise recognized on or before Closing.

 

		(d)	The
                                            Vendor shall defend, hold harmless and indemnify the Buyer from and against any PRC Withholding
                                            Taxes, associated late payment interests and penalty levied on the Buyer, as well as loss
                                            of cost basis (cost less than the acquisition cost paid by the Buyer to the Vendor) if the
                                            Buyer disposes of the relevant Sale Shares, due to the failure by the Vendor to fulfil its
                                            PRC Tax obligations under Bulletin 7 with respect to the transactions contemplated in this
                                            Agreement.

 

	10.	ASSIGNMENT

 

This
Agreement will be binding upon and inure to the benefit of the Parties hereto and their respective successors and permitted assigns;
provided, however, that no party hereto may assign its rights or delegate its obligations, in whole or in part, under this Agreement
without the prior written consent of the other Party hereto. Any purported assignment or delegation in violation of this Agreement shall
be null and void ab initio.

 

	11.	NOTICES

 

	11.1	Any
                                            notice or other communication to be given under this Agreement shall be in writing and may
                                            be delivered in person, or sent by registered mail to the relevant Party at its address appearing
                                            in this Agreement or at such other address as it may notify to the other Party under this
                                            Clause 11.

 

    	- 13 -

     

    

 

	11.2	Unless
                                            there is evidence that it was received earlier, a notice or communication is deemed given
                                            if:

 

		(a)	delivered
                                            in person, when left at the address referred to in Clause 11.1; and

 

		(b)	sent
                                            by prepaid registered post or courier, three (3) Business Days (or five (5) Business Days
                                            if sent by airmail) after posting it.

 

	12.	COSTS

 

Unless
expressly provided to the contrary in this Agreement, each Party shall bear its own costs arising out of or in connection with the preparation,
negotiation and implementation of this Agreement and the performance of its obligations therein.

 

	13.	ENTIRE
                                            AGREEMENT

 

This
Agreement contain the entire agreement between the Parties relating to the transactions contemplated by this Agreement, and supersede
all previous agreements, arrangements or understandings, including any term sheet or memorandum of understanding, whether oral or in
writing, between the Parties relating to these transactions. Each Party acknowledges that in entering into this Agreement, it has not
relied on any representation, promise or undertaking (whether oral or in writing) except such as are expressly incorporated into this
Agreement.

 

	14.	FURTHER
                                            ASSURANCE

 

Each
Party agrees to perform (or procure the performance of) all further acts and things, and execute and deliver (or procure the execution
and delivery of) such further documents, as may be required by Law or as the other Party may reasonably require to implement and/or give
effect to this Agreement, and the matters contemplated by this Agreement.

 

	15.	GOVERNING
                                            LAW AND DISPUTE RESOLUTION

 

	15.1	Subject
                                            to any contrary mandatory law in Hong Kong, this Agreement and the relationship of the parties
                                            hereto shall be governed by and construed in accordance with the internal laws (and not the
                                            law of conflicts) of the State of New York.

 

	15.2	All
                                            actions arising out of or relating to this Agreement shall be heard and determined exclusively
                                            in any state or federal court located in New York, New York (or in any appellate court thereof)
                                            (the “Specified Courts”). Each Party hereto hereby (a) submits to the
                                            exclusive jurisdiction of any Specified Court for the purpose of any action arising out of
                                            or relating to this Agreement brought by any party hereto and (b) irrevocably waives, and
                                            agrees not to assert by way of motion, defense or otherwise, in any such action, any claim
                                            that it is not subject personally to the jurisdiction of the above-named courts, that its
                                            property is exempt or immune from attachment or execution, that the action is brought in
                                            an inconvenient forum, that the venue of the action is improper, or that this Agreement or
                                            the transactions contemplated hereby may not be enforced in or by any Specified Court. Each
                                            Party agrees that a final judgment in any action shall be conclusive and may be enforced
                                            in other jurisdictions by suit on the judgment or in any other manner provided by Law.

 

    	- 14 -

     

    

 

	16.	GENERAL

 

	16.1	With
                                            regard to each and every term and condition of this Agreement, the Parties hereto understand
                                            and agree that the same has or have been mutually negotiated, prepared and drafted, and if
                                            at any time the Parties hereto desire or are required to interpret or construe any such term
                                            or condition, no consideration will be given to the issue of which Party hereto actually
                                            prepared, drafted or requested any term or condition of this Agreement.

 

	16.2	The
                                            provisions contained in each Clause of this Agreement shall be enforceable independently
                                            of each of the others. If any provision of this Agreement is held by a court to be invalid,
                                            void or unenforceable, the remaining provisions shall nevertheless continue in full force
                                            and effect without being impaired or invalidated in any way and shall be construed in accordance
                                            with the purposes and tenor and effect of this Agreement.

 

	16.3	This
                                            Agreement may be executed (including by facsimile or electronic signatures) in any number
                                            of counterparts, all of which, taken together, shall constitute one and the same agreement,
                                            and any Party may enter into this Agreement by executing a counterpart.

 

	16.4	Nothing
                                            in this Agreement shall be deemed to constitute a partnership between the Parties nor constitute
                                            any Party the agent of the other Party for any purpose.

 

	16.5	The
                                            failure to exercise or the delay in exercising any right, power or remedy provided by Law
                                            or under this Agreement shall not operate to impair the same or be construed as a waiver
                                            thereof, and no single or partial exercise of any such right, power or remedy shall prevent
                                            any further or other exercise of the same or the exercise of any other right, power or remedy.

 

	16.6	No
                                            waiver by any Party of any requirement of this Agreement or of any remedy or right under
                                            this Agreement shall have effect unless given by notice in writing signed by such Party.
                                            No waiver of any particular breach of the provisions of this Agreement shall operate as a
                                            waiver of any repetition of such breach.

 

	16.7	Subject
                                            to the terms of this Agreement, this Agreement (other than obligations that have already
                                            been fully performed) remains in full force after Closing.

 

	16.8	No
                                            amendment, change or addition hereto shall be effective or binding on any Party unless made
                                            in writing and executed by all the Parties.

 

	16.9	The
                                            maximum aggregate liability of the Vendor for all claims under this Agreement is equal to
                                            the Sale Price. The Vendor shall not be liable for a claim unless the Vendor’s liability
                                            in respect of such claim exceeds US$25,000. The Vendor has no liability for any claim under
                                            this Agreement unless it receives written notice specifying the matter which gives rise to
                                            the claim, the nature of the claim and the amount claimed within 2 years after the Closing
                                            Date.

 

(The
remainder of this page is intentionally left blank)

 

    	- 15 -

     

    

 

SCHEDULE
1

 

VENDOR’S
WARRANTIES

 

	1.1	The
                                            Vendor is duly incorporated or organised with limited liability and validly existing under
                                            the Laws of the jurisdiction of its incorporation or organisation, and has the full power
                                            and authority to enter into, execute and deliver this Agreement and to perform its obligations
                                            and the transactions contemplated therein.
	 	 
	1.2	The
                                            execution and delivery by the Vendor of this Agreement and the performance by the Vendor
                                            of its obligations and the transactions contemplated hereunder has been duly authorised by
                                            all necessary corporate or other action of the Vendor.

 

	1.3	As
                                            at Closing, the Vendor has obtained all necessary governmental, regulatory and corporate
                                            authorisations as well as internal and third party approvals and consents for the performance
                                            of the obligations undertaken by the Vendor hereunder.

 

	1.4	This
                                            Agreement constitutes the legal, valid and binding obligations of the Vendor enforceable
                                            in accordance with its terms, except as limited by applicable bankruptcy, insolvency, moratorium
                                            or similar federal or state laws affecting the rights of creditors, and is limited by laws
                                            relating to the availability of specific performance, injunctive relief or other equitable
                                            remedies. The execution and delivery of, and the performance of obligations under and compliance
                                            with the provisions of, this Agreement by the Vendor will not:

 

		1.4.1	contravene
                                            any order or judgments of any court or Governmental Body, statutory or regulatory body to
                                            which it is subject to which has the effect of making unlawful or otherwise prohibiting the
                                            transactions contemplated in this Agreement by the Vendor;

 

		1.4.2	conflict
                                            with or be inconsistent with or result in any breach of any of the terms, covenants, conditions
                                            or provisions of, or constitute a default under, or result in the creation or imposition
                                            of (or the obligation to create or impose) any Encumbrance upon any of it respective property
                                            or assets pursuant to the terms of any agreement, contract or instrument to which the Vendor
                                            or the Company is a party or by which the Vendor or the Company or any of their respective
                                            property or assets is bound or to which it may be subject to respectively; or

 

		1.4.3	require
                                            the consent of any person other than such as already given or waived or to be given or waived
                                            on or before Closing.

 

	1.5	The
                                            Vendor is the owner of the Sale Shares. The Sale Shares have been validly issued and fully
                                            paid up, and are free of any Encumbrance. The Sale Shares comprise 100% of the issued shares
                                            of the Company.

 

	1.6	No
                                            Governmental Authorization, or registration, declaration, notice or filing with, any Governmental
                                            Body is required by or with respect to the Vendor or the Company: (i) in connection with
                                            the execution and delivery of this Agreement or the consummation of the transactions contemplated
                                            by this Agreement (except for payment of any stamp duty); or (ii) necessary for the Company
                                            to operate its business immediately after the Closing in the same manner as operated immediately
                                            prior to the Closing after giving effect to the consummation of the transactions contemplated
                                            by this Agreement.

 

	1.7	Organization
                                            and Good Standing.

 

		1.7.1	The
                                            Company is a corporation duly incorporated, validly existing and in good standing under the
                                            laws of the jurisdiction in which it was incorporated, has all requisite and necessary power
                                            and authority to own, lease, use and operate its properties and assets, to carry on and conduct
                                            its business as now being conducted and as proposed to be conducted by the Company as of
                                            the Closing Date and to perform its obligations under all Material Contracts (as defined
                                            below), and is not (and has never been) duly qualified or registered to do business in a
                                            jurisdiction other than the jurisdiction in which it was incorporated.

 

    	- 16 -

     

    

 

		1.7.2	The
                                            Vendor has full corporate power and authority to do and perform all acts and things to be
                                            done by it under this Agreement.

 

		1.7.3	The
                                            Company has not conducted any business under or otherwise used, for any purpose or in any
                                            jurisdiction, any fictitious name, assumed name, trade name or other name other than the
                                            name under which the Company is currently incorporated.

 

		1.7.4	The
                                            Vendor has provided to the Buyer true, correct and complete copies of: (i) the Constituent
                                            Documents of the Company, as in effect on the date of this Agreement, and such copies reflect
                                            all amendments made thereto at any time prior to the date of this Agreement, (ii) the share
                                            records of the Company, (iii) the minutes and other records of the meetings and other proceedings
                                            (including any actions taken by written consent or otherwise without a meeting) of the shareholders
                                            of the Company, the board of directors of the Company and all committees of the board of
                                            directors of the Company (clauses (i), (ii) and (iii), collectively, the “Company
                                            Constituent Documents”). There have been no formal meetings or other proceedings
                                            of the shareholders of the Company, the board of directors of the Company or any committee
                                            of the board of directors of the Company that are not fully reflected in the Company Constituent
                                            Documents. There has not been any violation of the Company Constituent Documents, and the
                                            Company has not taken any action that is prohibited by the Company Constituent Documents.
                                            The Company is not in default under or in violation of any material provision of its Constituent
                                            Documents. The books and records of the Company are up to date, true, correct and complete
                                            in all material respects. All the records of the Company have been maintained in accordance
                                            with applicable Laws and prudent business practices and are in the actual possession and
                                            direct control of the Company.

 

	1.8	Capitalization.

 

		1.8.1	The
                                            Company has not issued any warrants (each, a “Warrant”), options (each,
                                            an “Option”) or rights (each, a “Right”) with respect
                                            to the share capital of itself. The Company does not have any outstanding share appreciation
                                            rights, phantom share, performance-based share or equity rights or similar share or equity
                                            rights or obligations. The Company has not issued any debt securities which grant the holder
                                            thereof any right to vote on, or veto, any actions by the Company.

 

		1.8.2	None
                                            of the issued and outstanding shares of the Company common stock or shares constitute restricted
                                            shares or are otherwise subject to a repurchase or redemption right or right of first refusal
                                            in favor of the Company.

 

		1.8.3	The
                                            Company is not a party to or bound by any agreements or understandings with respect to the
                                            voting (including pooling agreements, voting trusts and proxies) or sale or transfer (including
                                            agreements imposing transfer restrictions) of any share capital or other equity interests
                                            of the Company.

 

		1.8.4	None
                                            of the outstanding share capital of the Company is entitled or subject to any purchase option,
                                            call option, right of first refusal, pre-emptive right, right of participation, subscription
                                            right or any similar right (whether pursuant to the Company Constituent Documents or any
                                            Contract to which the Company is subject) and there is no Contract relating to information
                                            rights, financial statement requirements, the voting or registration of, or restricting any
                                            Person from purchasing, selling, pledging, transferring or otherwise disposing of (or granting
                                            any option or similar right with respect to), any of the Company’s share capital. The
                                            Company is not under any obligation, or bound by any Contract pursuant to which it may become
                                            obligated (i) to repurchase, redeem or otherwise acquire any outstanding share capital of
                                            the Company; or (ii) make any investment (in the form of a loan or capital contribution)
                                            in any other Entity.

 

    	- 17 -

     

    

 

		1.8.5	The
                                            Company has never repurchased, redeemed or otherwise reacquired any of its share capital
                                            or other securities.

 

		1.8.6	The
                                            Company is not now, nor has it ever been, required to file any periodic or other reports,
                                            or any registration statement, with any applicable securities regulatory authority, pursuant
                                            to any securities legislation, regulations or rules or policies.

 

	1.9	Subsidiaries.
                                            Other than the entities (if any) disclosed in Section 1.9 of Annex 2 to the Disclosure
                                            Schedule, the Company does not presently own or control, directly or indirectly, any interest
                                            in any other corporation, association, or other business entity. Except as set forth in Annex
                                            2 to the Disclosure Schedule, the Company is not a participant in any joint venture, partnership,
                                            or similar arrangement.

 

	1.10	The
                                            Company’s Financial Statements; Books and Records.

 

		1.10.1	The
                                            audited balance sheets of the Company as of December 31, 2020 together with the related notes
                                            and schedules (such balance sheets, the related statements of operations, of shareholder’s
                                            equity and of cash flows and the related notes and schedules are referred to herein as the
                                            “Year-end Financial Statements”); and

 

		1.10.2	The
                                            unaudited balance sheet of the Company as of December 31, 2021 (the “Balance Sheet
                                            Date”) and the related statements of operations and of shareholder’s equity
                                            as of the Balance Sheet Date (such balance sheets, the related statements of operations,
                                            and of shareholder’s equity are referred to herein as the “Interim Financial
                                            Statements”) and certified by the Company’s chief financial officer. The
                                            Interim Financial Statements shall be updated to a date no earlier than one month before
                                            the Closing Date. The Year-end Financial Statements and the Interim Financial Statements
                                            (collectively, the “Financial Statements”) are attached as Section
                                            1.10.2 to the Disclosure Schedule.

 

		1.10.3	The
                                            Financial Statements: (i) are true, correct and complete in all material respects and have
                                            been prepared in conformity with (A) the books and records of the Company, which, in turn,
                                            are true, correct and complete, and (B) IFRS/ local account rules consistently applied throughout
                                            the periods covered thereby (except as may be indicated in the notes to the Company’s
                                            Financial Statement); (ii) accurately presents the financial position of the Company as of
                                            such dates and the results of operations, changes in shareholder’s equity and cash
                                            flow of the Company for the periods then ended, subject in the case of unaudited financial
                                            statements to (y) normal recurring year-end audit adjustments, none of which would individually
                                            or in the aggregate be material, and (z) the absence of footnote disclosures, none of which
                                            would, alone or in the aggregate, be materially adverse to the business, operations, assets,
                                            liabilities, financial condition, operating results, value, cash flow or net worth of the
                                            Company; and (iii) contains and reflects adequate reserves, in accordance with IFRS/local
                                            account rules, for all reasonably anticipated losses, costs and expenses. No financial statement
                                            of any Person (other than the Company) is required by IFRS/local account rules to be included
                                            in the Company’s Financial Statements.

 

		1.10.4	The
                                            Financial Statements were prepared from the books, records and accounts of the Company, which
                                            books, records and accounts are accurate and have been maintained in accordance with all
                                            applicable Laws and (i) reflect all items of income and expense and all assets and liabilities
                                            required to be reflected in the Company’s Financial Statements in accordance with IFRS/local
                                            account rules, and (ii) are true, correct and complete in all material respects.

 

    	- 18 -

     

    

 

	1.11	No
                                            Undisclosed Liabilities; Indebtedness.

 

		1.11.1	As
                                            of the date of this Agreement and the Closing Date, the Company has no obligations or liabilities
                                            (whether or not absolute, accrued, contingent, determined, determinable, unliquidated or
                                            otherwise, whether known or unknown, whether due or to become due, whether or not required
                                            to be reflected in financial statements in accordance with IFRS or local accounting rules
                                            and regardless of when or by whom asserted), and there is no existing condition, situation
                                            or set of circumstances that could reasonably be expected to result in such an obligation
                                            or liability, except for: (i) liabilities that are fully reflected or provided for in the
                                            Company’s Financial Statements; and (ii) liabilities incurred in the ordinary course
                                            of business consistent with past practice since the date of the Balance Sheet Date and of
                                            a type reflected or provided for in the Year-end Financial Statements (none of which is a
                                            liability for breach of contract, breach of warranty, tort, infringement, violation of law,
                                            claim or lawsuit), which in the aggregate are not in excess of $10,000 and will not be overdue
                                            as of immediately prior to the Closing Date.

 

		1.11.2	Section
                                            1.11.2 of Annex 2 of the Disclosure Schedule sets forth a true, correct and complete
                                            list of all loan or credit agreements, notes, bonds, mortgages, indentures and other agreements
                                            and instruments pursuant to which any Indebtedness whereby an amount, individually or in
                                            the aggregate, in excess of $10,000 is outstanding or may be incurred on or prior to the
                                            date of this Agreement.

 

	1.12	No
                                            Material Adverse Effect. Since January 1, 2021, the Company has conducted its business
                                            only in the ordinary course of business consistent with past practice and, since such date,
                                            there has not been (a) any event, occurrence, development or state of circumstances or facts
                                            that has had, or could reasonably be expected to result in, Material Adverse Effect, or (b)
                                            any event, occurrence, development or state of circumstances or facts that has, or could
                                            reasonably be expected to have, the effect of preventing, delaying, making illegal or otherwise
                                            interfering with the transactions contemplated by this Agreement.

 

	1.13	Absence
                                            of Certain Changes or Events. Except as set forth in Annex 2 of the Disclosure Schedule,
                                            since January 1, 2022, the Company has not:

 

		1.13.1	issued
                                            (i) any notes, bonds or other debt securities, (ii) any share capital or other equity securities
                                            or any securities or rights convertible into or exchangeable or exercisable for any share
                                            capital or other equity securities (except for the Company’s common stock or shares
                                            issued upon the exercise of Options or Warrants), or (iii) any Rights (except for the Company’s
                                            Options or Warrants);

 

		1.13.2	amended
                                            or waived any of its rights under, or permitted the acceleration of vesting under, (i) any
                                            provision of the Company’s Share Option Plan; (ii) any provision of any agreement evidencing
                                            any outstanding Option; (iii) any provision of Warrant; or (iv) any restricted share purchase
                                            agreement;

 

		1.13.3	borrowed
                                            any amount or incurred or become subject to any liabilities, except current liabilities incurred
                                            in the ordinary course of business consistent with past practice, which individually or in
                                            the aggregate are not in excess of $10,000 and which will be satisfied and discharged by
                                            the Company as of immediately prior to the Closing;

 

		1.13.4	discharged
                                            or satisfied any Lien or paid any obligation or liability, other than current liabilities
                                            paid in the ordinary course of business consistent with past practice;

 

		1.13.5	declared,
                                            accrued, set aside or made any payment or distribution of cash or other property to any of
                                            its equity holders or its other Affiliates with respect to such equity holders’ equity
                                            securities or otherwise, or purchased, redeemed or otherwise acquired any shares of its share
                                            capital or other equity securities (including any warrants, options or other rights to acquire
                                            its share capital or other equity);

 

		1.13.6	mortgaged
                                            or pledged any of its properties or assets or subjected them to any Lien, except for Permitted
                                            Liens;

 

		1.13.7	(i)
                                            acquired, leased or licensed any right or other asset from any Person; (ii) sold, assigned,
                                            transferred, leased or licensed to any Person, or otherwise encumbered, any of its assets,
                                            except in each case, in the ordinary course of business consistent with past practice; or
                                            (iii) cancelled any debts or claims;

 

    	- 19 -

     

    

 

		1.13.8	sold,
                                            assigned, transferred, leased, licensed or otherwise encumbered any Intellectual Property
                                            Rights, disclosed any Confidential Information to any Person (other than to the Buyer and
                                            its Affiliates and other than disclosures made in the ordinary course of business consistent
                                            with past practice in circumstances in which it has imposed reasonable confidentiality restrictions),
                                            or abandoned or permitted to lapse any Intellectual Property Rights;

 

		1.13.9	(i)
                                            granted any severance or termination pay to (or amended any existing arrangement with) any
                                            current or former director, officer or employee whose annual compensation is over $125,000;
                                            (ii) increased, or accelerated the payment of, the compensation or benefits payable under
                                            any existing severance or termination pay policies or employment agreements; (iii) entered
                                            into any employment, deferred compensation or other similar agreement (or any amendment to
                                            any such existing agreement) with any director, officer or employee whose annual compensation
                                            is over $125,000; (iv) established, adopted or amended (except as required by applicable
                                            Laws) any Employee Plan or any collective bargaining, works council, share option, restricted
                                            share, bonus, insurance, severance, deferred compensation, pension, retirement, profit sharing,
                                            or any other benefit plan, agreement or arrangement covering any employees, officers, consultants
                                            or directors of the Company; or (v) increased, or accelerated the payment of, the compensation,
                                            bonus or other benefits payable to any employees, officers, consultants or directors of the
                                            Company other than in the case of this clause (v) in accordance with the Company’s
                                            ordinary course of business and consistent with past practice;

 

		1.13.10	suffered
                                            any extraordinary losses or waived any rights of value (whether or not in the ordinary course
                                            of business or consistent with past practice) in excess of $10,000 individually or in the
                                            aggregate;

 

		1.13.11	made
                                            capital expenditures or commitments therefor that exceed $10,000 individually or $25,000
                                            in the aggregate;

 

		1.13.12	delayed
                                            or postponed the payment of any accounts payable or commissions or any other liability or
                                            obligation or agreed or negotiated with any party to extend the payment date of any accounts
                                            payable or commissions or any other material liability or obligation or accelerated the collection
                                            of (or discounted) any accounts or notes receivable outside the ordinary course of business
                                            consistent with past practice in amounts that do not exceed $5,000 individually or in the
                                            aggregate;

 

		1.13.13	made
                                            any loans or advances to, guaranties for the benefit of, or any investments in, any Person
                                            (other than advances to the employees of the Company in the ordinary course of business consistent
                                            with past practice);

 

		1.13.14	suffered
                                            any damage, destruction or casualty loss exceeding in the aggregate $10,000, whether or not
                                            covered by insurance;

 

		1.13.15	made
                                            or changed any Tax election, changed any annual tax accounting period, changed or adopted
                                            any method of tax accounting, filed any amended Tax Returns or claims for Tax refunds, entered
                                            into any closing agreement, settled any Tax claim, audit or assessment, consented to any
                                            extension or waiver of the limitation period applicable to any claim or assessment of Taxes,
                                            or surrendered any right to claim a Tax refund, offset or other reduction;

 

		1.13.16	threatened,
                                            commenced or settled any Legal Proceeding;

 

		1.13.17	made
                                            any investment in or taken any steps to incorporate or form any subsidiary or to acquire
                                            any equity interest or other interest in any other Entity;

 

		1.13.18	amended
                                            any of its Constituent Documents or effected or been a party to any acquisition transaction,
                                            recapitalization, reclassification of shares, share split, reverse share split or similar
                                            transaction;

 

    	- 20 -

     

    

 

		1.13.19	entered
                                            into any agreement or arrangement prohibiting or restricting it from freely engaging in any
                                            business, from competing with any Person in any line of business that is material to the
                                            Company or otherwise restricting the conduct of its business anywhere in the world;

 

		1.13.20	entered
                                            into, amended or terminated any material Contract other than in the ordinary course of business
                                            consistent with past practice;

 

		1.13.21	received
                                            notice, whether written or oral, from any party to a Material Contract (as defined below)
                                            of such party’s intention not to renew, not to extend, to cancel or otherwise terminate
                                            or materially modify its business relationship with the Company;

 

		1.13.22	entered
                                            into any transaction with any of its Affiliates, which exceeded $10,000 individually or $25,000
                                            in the aggregate;

 

		1.13.23	entered
                                            into any other material transaction (other than the entry into this Agreement and transactions
                                            contemplated by this Agreement), except in the ordinary course of business consistent with
                                            past practice, or materially changed any business practice; or

 

		1.13.24	agreed,
                                            whether orally or in writing, to do any of the foregoing.

 

	1.14	Taxes.

 

		1.14.1	All
                                            Tax Returns required to have been filed by or on behalf of, or with respect to the assets
                                            of, the Company and the Acquired Company through the date of this Agreement have been timely
                                            filed in accordance with all applicable Laws (pursuant to an extension of time or otherwise)
                                            and are true, correct and complete in all material respects. The Company and the Acquired
                                            Company has provided to the Buyer true, correct and complete copies of all Tax Returns.

 

		1.14.2	Section
                                            1.14.2 of Annex 2 to the Disclosure Schedule sets forth a true, correct and complete
                                            list of all jurisdictions (whether foreign or domestic) in which the Company and the Acquired
                                            Company are required to file Tax Returns. No claim has ever been made by a Governmental Body
                                            in a jurisdiction where the Company and the Acquired Company do not file Tax Returns that
                                            it is or may be subject to taxation or to a requirement to file Tax Returns in that jurisdiction.

 

		1.14.3	All
                                            Taxes, estimated Taxes, deposits and other payments due and owing by or on behalf of the
                                            Company and the Acquired Company (whether or not shown on any Tax Return) have been or will
                                            be timely paid in full through the date of this Agreement.

 

		1.14.4	The
                                            Company and the Acquired Company have accrued on their Financial Statements in accordance
                                            with IFRS/ local accounting rules all liabilities for unpaid Taxes through the date of this
                                            Agreement.

 

		1.14.5	The
                                            amounts so paid, together with all amounts accrued as liabilities for Taxes (including Taxes
                                            accrued as currently payable but excluding any accrual to reflect timing differences between
                                            book and Tax income) on the books of the Company and the Acquired Company, shall be adequate
                                            based on the tax rates and applicable Laws in effect to satisfy all liabilities for Taxes
                                            of the Company and the Acquired Company in any jurisdiction through the Closing Date, including
                                            Taxes accruable upon income earned through the Closing Date.

 

		1.14.6	The
                                            Company and the Acquired Company have withheld all amounts of Taxes required to be withheld
                                            from its employees, agents, contractors, creditors, shareholders, members or other equity
                                            holders and third parties and timely remitted such amounts to the proper Governmental Body
                                            and filed all federal, state, local and foreign Tax Returns and reports with respect to employee
                                            income Tax withholding, social security, unemployment, and other similar Taxes, all in material
                                            compliance with the withholding provisions of the Tax code applicable to the Company and
                                            the Acquired Company (the “Code”), or any prior provision of the Code
                                            and other applicable Laws).

 

    	- 21 -

     

    

 

		1.14.7	The
                                            Company and the Acquired Company have collected all material sales, value-added and use Taxes
                                            required to be collected, and have remitted, or will remit on a timely basis, such amounts
                                            to the appropriate Governmental Body (or have been furnished properly completed exemption
                                            certificates and have maintained all such records and supporting documents in the manner
                                            required by all applicable sales and use Tax statutes and regulations).

 

		1.14.8	No
                                            claims have been asserted and no proposals or deficiencies for any Taxes of the Company or
                                            the Acquired Company are being asserted, proposed or threatened, and no Legal Proceeding,
                                            audit, examination or investigation of any Tax Return of the Company or the Acquired Company
                                            is currently underway, pending or threatened. There have been no examinations or audits of
                                            any Tax Return of the Company or the Acquired Company. The Vendor or the Company or the Acquired
                                            Company has provided to the Buyer true, correct and complete copies of all audit reports,
                                            correspondence with Tax authorities and similar documents (to which the Company or the Acquired
                                            Company has access) relating to the Tax Returns of the Company and the Acquired Company.

 

		1.14.9	All
                                            Tax deficiencies asserted by a Governmental Body against the Company and the Acquired Company
                                            have been paid in full, accrued on the books of the Company and the Acquired Company or finally
                                            settled, and no indication of a Tax increase or other issue has been raised in any such examination
                                            that, by application of the same or similar principles, could reasonably be expected to result
                                            in a proposed Tax deficiency for any other period not so examined.

 

		1.14.10	There
                                            are no outstanding waivers or agreements between any Governmental Body and the Company or
                                            the Acquired Company for the extension of time for the assessment of any Taxes or deficiency
                                            thereof, nor are there any requests for rulings, outstanding subpoenas or requests for information,
                                            notices of proposed reassessment of any property owned or leased by the Company or the Acquired
                                            Company or any other matter pending between the Company or the Acquired Company and any Governmental
                                            Body.

 

		1.14.11	There
                                            are no Liens for Taxes with respect to the Company or the assets or properties of the Company
                                            or the Acquired Company, nor is there any Lien that is pending or threatened.

 

		1.14.12	The
                                            Company and the Acquired Company do not have liability for the Taxes of any Person (other
                                            than for itself) under Treasury Regulation Section 1.1502-6 (or any similar provision of
                                            national, provincial, territorial, state, local or foreign Law), as a transferee or successor,
                                            by Contract or otherwise.

 

		1.14.13	The
                                            Company and the Acquired Company are not a party to or bound by any Tax allocation, Tax indemnification
                                            or Tax sharing.

 

		1.14.14	The
                                            Company and the Acquired Company have not, directly or indirectly, transferred property to
                                            or acquired property from a Person with whom it was not dealing at arm’s length for
                                            consideration other than consideration equal to the fair market value of the property at
                                            the time of the disposition or acquisition thereof and has complied with all material transfer
                                            pricing rules and requirements, including any disclosure, reporting and other similar requirements
                                            under foreign Tax Law).

 

		1.14.15	The
                                            Company and the Acquired Company have not been a United States real property holding corporation
                                            within the meaning of Section 897(c)(2) of the Code during the applicable period specified
                                            in Section 897(c)(1)(A)(ii) of the Code.

 

		1.14.16	If
                                            the transactions contemplated in this Agreement are subject to the PRC Withholding Taxes
                                            under Bulletin 7, all such PRC Withholding Taxes will be timely paid in full by the Vendor
                                            to the PRC Tax Authority in accordance with the requirement of the PRC Tax Authority.

 

    	- 22 -

     

    

 

		1.14.17	No
                                            permanent establishment or place of domicile has been created by the Company and the Acquired
                                            Company other than their respective jurisdiction of incorporation, and no tax liabilities
                                            have arisen in respect of such a permanent establishment or place of domicile.

 

	1.15	Real
                                            Property.

 

		1.15.1	There
                                            is no Owned Real Property.

 

		1.15.2	Section
                                            1.15.2 of Annex 2 to the Disclosure Schedule sets forth a true, complete and correct
                                            listing of all Leased Real Property (including street address, legal description (if known),
                                            lessor, rent and each of the Company’s use thereof), and a true, complete and correct
                                            list of all lease Contracts for such Leased Real Property. The Vendor or the Company have
                                            made available to Buyer true and complete copies of each such lease Contract, as amended
                                            through the date hereof. With respect to each such lease Contract:

 

		1.15.2.1	The
                                            Company has a valid leasehold interest to the leasehold estate in the Leased Real Property
                                            granted to the Company pursuant to each such lease Contract;

 

		1.15.2.2	Each
                                            such lease Contract is, and will continue to be, legal, valid, binding, enforceable and in
                                            full force and effect against the parties thereto in accordance with its terms following
                                            the consummation of the transactions contemplated hereby;

 

		1.15.2.3	No
                                            event has occurred or circumstance exists which, with the delivery of notice, the passage
                                            of time or both, would constitute a material breach or default under such lease Contract;
                                            and

 

		1.15.2.4	The
                                            Company has not assigned, transferred, conveyed, mortgaged, deeded in trust or encumbered
                                            any interest in any Leased Real Property held pursuant to such lease Contract.

 

		1.15.3	The
                                            Company’s Real Property and all present uses and operations of the Company’s
                                            Real Property comply in all material respects with easements and disposition agreements affecting
                                            the Company’s Real Property and there are no pending or threatened condemnation, fire,
                                            health, safety, building, zoning or other land use regulatory proceedings, lawsuits or administrative
                                            actions relating to any portion of the Company’s Real Property or the current use,
                                            occupancy or value thereof, nor has the Company or the Vendor received written notice of
                                            any pending or threatened special assessment proceedings affecting any portion of the Company’s
                                            Real Property, in each case except to the extent that such actions or notice would result
                                            in a Material Adverse Effect on the Company.

 

		1.15.4	There
                                            is no fact or condition exists which could result in the termination or material reduction
                                            of the current access from the Company’s Real Property to existing roads or to water,
                                            sewer or other utility services presently serving the Company’s Real Property.

 

	1.16	Personal
                                            Property.

 

		1.16.1	All
                                            items of equipment and other tangible personal property and assets owned by or leased to
                                            the Company, to the Vendor’s knowledge: (i) are adequate for the uses to which they
                                            are being put; (ii) are structurally sound, free of defects and deficiencies and in good
                                            operating condition, maintenance and repair, subject to ordinary wear and tear; (iii) comply
                                            in all material respects with, and are being operated and otherwise used in material compliance
                                            with, all applicable Laws; (iv) were acquired and are usable in the ordinary course of business
                                            consistent with past practice; and (v) are adequate for the conduct of the business of the
                                            Company in the manner in which such business is being conducted and as proposed to be conducted
                                            by the Company as of the Closing Date.

 

    	- 23 -

     

    

 

	1.17	Intellectual
                                            Property.

 

		1.17.1	The
                                            Company has no applicable filing or registration with respect to Intellectual Property. There
                                            is no application for a patent, copyright or trademark registration or any other type of
                                            registrations filed by or on behalf of the Company.

 

		1.17.2	The
                                            Company has not filed any patent and trademark applications.

 

		1.17.3	The
                                            Company exclusively owns all right, title and interest in and to the Company’s owned
                                            Intellectual Property, free and clear of any Liens other than Permitted Liens. The Company’s
                                            Intellectual Property constitutes all Intellectual Property Rights that is used in or necessary
                                            to the conduct of the Company’s business as now conducted and as contemplated to be
                                            conducted by the Company as of the Closing Date, free and clear of any Liens other than Permitted
                                            Liens.

 

		1.17.4	The
                                            Company has taken all commercially reasonable steps necessary to maintain and protect the
                                            proprietary nature of each item of its Intellectual Property, and to maintain in confidence
                                            all trade secrets and Confidential Information comprising a part thereof. No complaint relating
                                            to an improper use or disclosure of, or a breach in the security of, any such information
                                            has been made or threatened against the Company. There has been no: (i)
unauthorized disclosure of any third-party proprietary information or Confidential Information in the possession, custody or control
of the Company; or (ii) breach of the Company’s security procedures wherein Confidential Information has been disclosed to a third
Person.

 

		1.17.5	No
                                            Person (including any current or former employee or consultant of the Company) has infringed,
                                            violated or misappropriated, or is infringing, violating or misappropriating, any of the
                                            Company’s Intellectual Property and there are no facts or circumstances that could
                                            reasonably be expected to result in any of the foregoing or of any current or anticipated
                                            claims against a third Person relating to the foregoing.

 

		1.17.6	There
                                            is no license, covenant or other agreement pursuant to which the Company has (x) assigned
                                            or transferred to any Person, or (y) licensed or otherwise granted any right to any Person,
                                            or covenanted not to assert any right, in each such instance of (x) or (y), with respect
                                            to the Company’s Intellectual Property. The Company has not agreed to indemnify any
                                            Person against any infringement, violation or misappropriation of any Intellectual Property
                                            Rights with respect to any third-party Intellectual Property Rights. The Company is not a
                                            member of or party to any patent pool, industry standards body, trade association or other
                                            organization pursuant to the rules of which it is obligated to license any existing or future
                                            Intellectual Property Rights to any Person, and the Company’s owned Intellectual Property
                                            was not developed in whole or in part using any governmental funding or using any funding,
                                            facilities, or resources of any university or research institution.

 

		1.17.7	Section
                                            1.17.7 of Annex 2 to the Disclosure Schedule sets forth each Licensed Intellectual Property
                                            and the license or agreement pursuant to which the Company exploits it (excluding currently-available,
                                            off the shelf software programs that are licensed by the Company pursuant to “shrink
                                            wrap” licenses, the total fees associated with which are less than $10,000), and there
                                            is no agreement, assignment or other instrument pursuant to which the Company has obtained
                                            any joint or sole ownership interest in or to each item of the Company’s owned Intellectual
                                            Property.

 

		1.17.8	The
                                            Company is not subject to any proceeding or outstanding decree, order, judgment, agreement
                                            or stipulation (i) restricting in any manner the use, transfer or licensing by the Company
                                            of any of the Company’s Intellectual Property; or (ii) that may affect the validity,
                                            use or enforceability of the Company’s Intellectual Property or any product, product
                                            candidate or service of the Company related thereto.

 

		1.17.9	The
                                            Company may continue to operate its business immediately after the Closing in the same manner
                                            as operated immediately prior to the Closing and after giving effect to the consummation
                                            of the transactions contemplated by this Agreement and will not result in the breach of,
                                            or create on behalf of any third-party the right to terminate or modify, (i) any license,
                                            sublicense or other agreement relating to any Intellectual Property; or (ii) any license,
                                            sublicense and other agreement to which the Company is a party and pursuant to which the
                                            Company is authorized to use any third-party Intellectual Property Rights that are useful
                                            to the business of each of the Company, as it is currently conducted and as it is contemplated
                                            to be conducted by the Company as of the Closing Date.

 

    	- 24 -

     

    

 

		1.17.10	To
                                            the best of the Vendor’s knowledge: no current or former director, officer, employee,
                                            independent contractor, or consultant of the Company (i) is in violation of any provision
                                            or covenant of any employment agreement, invention assignment agreement, nondisclosure agreement,
                                            non-competition agreement or any other Contract with any other Person by virtue of such director’s,
                                            officer’s, employee’s, independent contractor’s, or consultant’s
                                            being employed by, performing services for or serving on the board of directors of the Company;
                                            (ii) is using or has used any trade secrets or Confidential Information of any third Person
                                            in connection with performing any services for the Company or the development or creation
                                            of the Company’s Intellectual Property without the permission of the Company and such
                                            third Person; or (iii) has developed or created any Company Intellectual Property that is
                                            subject to any agreement under which such director, officer, employee, independent contractor,
                                            or consultant has assigned or otherwise granted any third party any rights in or to such
                                            Intellectual Property. No director, agent, employee, independent contractor, or consultant
                                            of the Company is a party to, or is otherwise bound by, any Contract, including any confidentiality,
                                            non- competition or proprietary rights agreement, with any other Person that in any way adversely
                                            affects or will affect his or her ability to assign to the Company’s rights to any
                                            invention, improvement, discovery or information relating to the Company’s Intellectual
                                            Property or affecting the Company’s ability to exploit any of the Company’s Intellectual
                                            Property.

 

	1.18	Agreements.

 

		1.18.1	The
                                            Company is not a party to any Contract, agreement or commitment that (i) would require payment
                                            by or to the Company in an amount equal to or in excess of USD $25,000 individually or, in
                                            the aggregate, equal to or in excess of USD $100,000 or (ii) the performance of which could
                                            reasonably be expected to have a Material Adverse Effect.

 

	1.19	Litigation.

 

		1.19.1	Except
                                            as set forth on Section 1.19.3 of the Disclosure Schedule (if any), there are no Legal
                                            Proceedings pending or threatened (i) against or affecting the Company or any of the assets
                                            owned, used or controlled by the Company or any Person whose liability the Company has or
                                            may have retained or assumed, either contractually or by operation of law (or pending or
                                            threatened against or affecting any of the shareholders or the officers, directors, managers
                                            or employees of the Company with respect to its business or proposed business activities),
                                            or pending or threatened by the Company against any Person, at law or in equity, or before
                                            or by any Governmental Body (including any Legal Proceedings with respect to the transactions
                                            contemplated by this Agreement), or (ii) that relate to the ownership of any share capital
                                            of the Company, or any option or other right to the share capital of the Company, or any
                                            right to receive consideration as a result of this Agreement.

 

		1.19.2	The
                                            Company is not subject to any Legal Proceedings under collective bargaining agreements or
                                            otherwise or any governmental investigations or inquiries.

 

		1.19.3	The
                                            Company is not subject to any judgment, order or decree of any court or other Governmental
                                            Body, and the Company has not received any notice from legal counsel to the effect that it
                                            is exposed, from a legal standpoint, to any material liabilities. There are no actions, suits,
                                            proceedings (including any arbitration proceedings), orders, investigations or claims pending
                                            or threatened against or affecting any shareholder in which it is sought to restrain or prohibit
                                            or to obtain damages or other relief in connection with the transactions contemplated by
                                            this Agreement. The Company has provided to the Buyer true, correct and complete copies of
                                            all pleadings, correspondence and other written materials to which the Company has access
                                            and that relate to any Legal Proceeding set forth on Section 1.19.3 of the Disclosure
                                            Schedule.

 

    	- 25 -

     

    

 

	1.20	Environmental
                                            Matters.

 

		1.20.1	The
                                            Company is, and has for the past three years has been, in material compliance with all applicable
                                            Environmental Laws, which compliance includes the possession by the Company of all Governmental
                                            Authorizations required under applicable Environmental Laws (if any), and compliance with
                                            the terms and conditions thereof.

 

		1.20.2	The
                                            Company has not received any notice or other communication (in writing or otherwise), whether
                                            from a Governmental Body, citizens group, employee or otherwise, that alleges that the Company
                                            is not in compliance with, or has liability under, any Environmental Law and there are no
                                            circumstances that could reasonably be expected to prevent or interfere with the Company’s
                                            compliance with, or give rise to liability under, any Environmental Law in the future.

 

		1.20.3	The
                                            Company has not at any time been subject to any administrative or judicial proceeding pursuant
                                            to, or paid any fines or penalties pursuant to, applicable Environmental Laws. The Company
                                            has not entered into or agreed to enter into, or has any present intent to enter into, any
                                            consent decree or order, and the Company is not subject to any judgment, decree or judicial
                                            or administrative order relating to compliance with, or the cleanup of Materials of Environmental
                                            Concern under, any applicable Environmental Law.

 

		1.20.4	There
                                            has been no release of Materials of Environmental Concern at any plant, facility, site, area
                                            or property at which the Company currently operates or previously operated.

 

		1.20.5	No
                                            current or prior owner of any property leased or controlled by the Company has received any
                                            notice or other communication (in writing or otherwise), whether from a Governmental Body,
                                            citizens group, employee (current or former) or otherwise, that alleges that such current
                                            or prior owner or the Company is not in compliance with, or has liability under, any Environmental
                                            Law.

 

		1.20.6	No
                                            improvement or equipment included in the property or assets of the Company contains any asbestos,
                                            polychlorinated biphenyls, underground storage tanks, open or closed pits, sumps or other
                                            containers on or under any property or asset.

 

		1.20.7	The
                                            Company has not imported, received, manufactured, produced, processed, labeled or shipped,
                                            stored, used, operated, transported, treated or disposed of any Materials of Environmental
                                            Concern other than in compliance with all Environmental Laws.

 

		1.20.8	The
                                            Company has provided to the Buyer true, correct and complete copies of all environmental
                                            reports, investigations and/or audits (if any) relating to facilities at which the Company
                                            currently operates or previously operated (whether conducted by or on behalf of the Company
                                            or a third party) of which the Company has possession or control.

 

	1.21	Employee
                                            Matters.

 

		1.21.1	Section
                                            1.21.1 of the Disclosure Schedule sets forth a true, correct and complete list of all
                                            employees, consultants and independent contractors used by the Company as of the date of
                                            this Agreement whose annual compensation (excluding any fluctuating bonus) exceeds US$125,000,
                                            specifying the name of the employee, consultant or independent contractor, type of services
                                            provided, fees paid to such consultant or independent contractor for calendar year 2020 and
                                            2021, work location and work address, and accurately reflects any compensation payable to
                                            them, their dates of service, and their positions or titles. Each employee, consultant or
                                            independent contractor set forth on Section 1.21.1 of the Disclosure Schedule has
                                            the requisite Governmental Authorizations required to provide the services such employee,
                                            consultant or independent contractor provides the Company. The Company has provided to the
                                            Buyer a true, correct and complete copy of each written agreement with each material employee,
                                            consultant and independent contractor set forth on Section 1.21.1 of the Disclosure
                                            Schedule.

 

    	- 26 -

     

    

 

		1.21.2	Each
                                            prior employee has, at all times, properly been classified and treated as an employee for
                                            all purposes including, but not limited to, the Employee Plans and Tax purposes. Each prior
                                            employee has at all times properly been classified as subject to or exempt from overtime
                                            requirements (if there is any such classification system in the applicable jurisdiction).
                                            The Company has never had any temporary or leased employees that were not treated and accounted
                                            for in all material respects as employees of the Company.

 

		1.21.3	The
                                            Company is, and has at all times been, in material compliance with all applicable Laws and
                                            in particular, all Labor Laws applicable to its employees. The Company is not subject to
                                            or liable for any arrears of wages, penalties, fines, orders to pay, assessments, charges,
                                            damages or taxes for failure to comply with the Labor Laws and the Company is in material
                                            compliance with all Laws (including all Labor Laws) and contracts relating to employment,
                                            employment practices, wages, hours, equal opportunity, affirmative action, harassment, occupational
                                            health and safety, disability, workers compensation, unemployment, insurance, benefits, taxes,
                                            bonuses and terms and conditions of employment.

 

		1.21.4	There
                                            are no claims pending, or threatened or capable of arising, against the Company, by an employee
                                            or workman or third party, in respect of any accident or injury, which are not fully covered
                                            by insurance or under applicable workers compensation legislation. No levies, assessments
                                            or penalties have been made against the Company pursuant to Applicable Benefit Laws (other
                                            than any levies that are payable by all employers under applicable Law).

 

		1.21.5	No
                                            notice has been received by the Company of any employment related claims commenced by any
                                            employee against the Company, including claims that the Company has violated Labor Laws or
                                            the common law with respect to an employee’s employment, and no such claims are threatened.

 

		1.21.6	Each
                                            Person classified as an independent contractor or other non-employee service provider of
                                            the Company has, at all times, properly been classified and treated as an independent contractor
                                            or other non-employee service provider for all purposes including, but not limited to, Tax
                                            purposes. The Company is, and has at all times been, in material compliance with all applicable
                                            Laws and contracts relating to its independent contractors and other non-employee service
                                            providers. No independent contractor, consultant or other non-employee service provider of
                                            the Company is eligible to participate in any Employee Plan. There are no claims pending
                                            or threatened against the Company by any independent contractor, other non-employee service
                                            provider or third party, in respect of any accident or injury, which are not fully covered
                                            by insurance.

 

		1.21.7	All
                                            amounts due in relation to employees (whether arising under common law, statute, equity or
                                            otherwise) have been paid, including all remuneration, expenses, social insurance, pension
                                            contributions, liability to taxation, levies and other amounts (other than amounts owing
                                            with respect to the current salary or work period which are not yet due).

 

		1.21.8	No
                                            Employee, since becoming an employee, has been, or currently is, represented by a labor organization
                                            or group that was either certified or voluntarily recognized by any labor relations board
                                            or certified or voluntarily recognized by any other Governmental Body. The Company is not
                                            and has never been a signatory to a collective bargaining agreement with any trade union,
                                            labor organization or group. No representation election petition or application for certification
                                            has been filed by employees is pending with any Governmental Body and no union organizing
                                            campaign or other attempt to organize or establish a labor union, employee organization or
                                            labor organization or group involving employees has occurred, is in progress or is threatened.
                                            No labor strike, work stoppage, slowdown, picketing, lockout or other material labor dispute
                                            has occurred, and none is underway or threatened.

 

    	- 27 -

     

    

 

		1.21.9	No
                                            wrongful discharge, retaliation, libel, slander or other claim, complaint, charge or investigation
                                            that arises out of the employment relationship between the Company and any of its Employees
                                            has been filed or is pending or threatened against the Company under any applicable Law.

 

	1.22	Employee
                                            Benefit Plans. The Company has not had an Employee Plan.

 

	1.23	Compliance
                                            with Laws; Governmental Authorizations.

 

		1.23.1	The
                                            Company is, and has at all times been, in compliance materially with all applicable Laws,
                                            except where non-compliance could not reasonably be expected to result in Material Adverse
                                            Effect. The Company has not received any notice or other communication from any Governmental
                                            Body or any other Person regarding (i) any actual, alleged, possible or potential material
                                            violation of, or failure to materially comply with, any Law; or (ii) any actual, alleged,
                                            possible or potential obligation on the part of the Company to undertake, or to bear all
                                            or any portion of the cost of, any cleanup or any remedial, corrective or response action
                                            of any nature under any applicable Law. The Company has provided to the Buyer a true, correct
                                            and complete copy of each report, study, survey or other document to which the Company has
                                            access that addresses or otherwise relates to the compliance of the Company with, or the
                                            applicability to the Company of, any Laws. To the knowledge of the Vendor, no Governmental
                                            Body has proposed or is considering any Law that, if adopted or otherwise put into effect,
                                            (A) may have an adverse effect on the business, condition, assets, liabilities, operations,
                                            financial performance, net income or prospects of the Company or on the ability of the Company
                                            to comply with or perform any covenant or obligation under any of ancillary documents contemplated
                                            by this Agreement; or (B) may have the effect of preventing, delaying, making illegal or
                                            otherwise interfering with the transactions contemplated by this Agreement.

 

		1.23.2	The
                                            Company does not require any Governmental Authorizations to operate its business beyond what
                                            Governmental Authorizations it currently holds, which have all been listed on Section
                                            1.23.2 of the Disclosure Schedule. The Governmental Authorizations held by the Company
                                            are valid and in full force and effect, and collectively constitute all Governmental Authorizations
                                            necessary (i) to enable the Company to conduct its business in the manner in which its business
                                            is currently being conducted and as contemplated to be conducted by the Company as of the
                                            Closing Date; and (ii) to permit the Company to own and use its assets in the manner in which
                                            it is currently owned and used. The Company is, and at all times since its incorporation
                                            has been, in material compliance with the terms and requirements of the Governmental Authorizations
                                            held by the Company. The Company has not received any notice or other communication from
                                            any Governmental Body regarding (A) any actual or possible violation of or failure to comply
                                            with any term or requirement of any Governmental Authorization; or (B) any actual or possible
                                            revocation, withdrawal, suspension, cancellation, termination or modification of any Governmental
                                            Authorization. All of the Governmental Authorizations set forth or required to be set forth
                                            on Section 1.23.2 of the Disclosure Schedule will be available for use by the Company
                                            immediately after the Closing. In respect of approvals, licenses or permits requisite for
                                            the conduct of any part of the business of the Company which are subject to periodic renewal,
                                            the Company has no reason to believe that such renewals will not be timely granted by the
                                            relevant Governmental Body.

 

    	- 28 -

     

    

 

		1.23.3	(i)
                                            The Company has at all times been, in full compliance with all of the terms and requirements
                                            of each Governmental Authorization set forth or required to be set forth on Section 1.23.2
                                            of the Disclosure Schedule; (ii) no event has occurred, and no condition or circumstance
                                            exists, that might (with or without notice or lapse of time or both) reasonably (A) constitute
                                            or result directly or indirectly in a violation of or a failure to comply with any term or
                                            requirement of any Governmental Authorization set forth or required to be set forth on Section
                                            1.23.2 of the Disclosure Schedule; or (B) result directly or indirectly in the revocation,
                                            withdrawal, suspension, cancellation, termination or modification of any Governmental Authorization
                                            set forth or required to be set forth on Section 1.23.2 of the Disclosure Schedule;
                                            (iii) the Company has not received, and no employee has ever received, any notice or other
                                            communication from any Governmental Body or any other Person regarding (x) any actual, alleged,
                                            possible or potential violation of or failure to comply with any term or requirement of any
                                            Governmental Authorization; or (y) any actual, proposed, possible or potential revocation,
                                            withdrawal, suspension, cancellation, termination or modification of any Governmental Authorization;
                                            and (iv) all applications required to have been filed for the renewal of the Governmental
                                            Authorizations required to be set forth on Section 1.23.2 of the Disclosure Schedule
                                            have been duly filed on a timely basis with the appropriate Governmental Bodies, and each
                                            other notice or filing required to have been given or made with respect to such Governmental
                                            Authorizations has been duly given or made on a timely basis with the appropriate Governmental
                                            Body.

 

	1.24	Insurance.
                                            The Company has maintained all insurance policies that are required under applicable Law.
                                            The Company has provided to the Buyer true, correct and complete copies of the insurance
                                            policies set forth on Section 1.24 of the Disclosure Schedule. The Company has not
                                            reached or exceeded its policy limits for any such insurance policy in effect at any time
                                            during the past three (3) years. During the past three (3) years, the Company has not received
                                            any notice or other communication regarding any actual or possible (a) cancellation or invalidation
                                            of any such insurance policy; (b) refusal of any coverage or rejection of any claim under
                                            any such insurance policy; or (c) material adjustment in the amount of the premiums payable
                                            with respect to any such insurance policy. All premiums required to be paid with respect
                                            thereto covering all periods up to and including the Closing Date have been or will be paid
                                            in a timely fashion and there has been no lapse in coverage under such policies or failure
                                            of payment that will cause coverage to lapse during any period for which the Company has
                                            conducted its operations. The Company has not had any obligation for retrospective premiums
                                            for any period prior to the Closing Date. All such policies are in full force and effect
                                            and will remain in full force and effect up to and including the Closing Date, unless replaced
                                            with comparable insurance policies having comparable or more favorable terms and conditions.
                                            No insurer has provided the Company with notice that coverage will be denied with respect
                                            to any claim submitted to such insurer by the Company. Section 1.24 of the Disclosure
                                            Schedule sets forth all claims by the Company pending under any of such policies or bonds
                                            as to which coverage has been questioned, denied or disputed by the underwriters of such
                                            policies or bonds or in respect of which such underwriters have reserved their rights.

 

	1.25	Title
                                            to and Sufficiency of Assets.

 

		1.25.1	The
                                            Company owns, and has good, valid, transferable and marketable title to, or a valid leasehold
                                            interest in (i) all properties and assets used by it, located on its premises, shown on the
                                            Year-end Financial Statements or acquired after the date thereof, free and clear of all Liens
                                            (other than properties and assets disposed of in the ordinary course of business consistent
                                            with past practice since the date of the Year-end Financial Statements); (ii) all of its
                                            rights under the Material Contracts; and (iii) all other material assets used by the Company
                                            or reflected in the books and records of the Company as being owned by the Company.

 

		1.25.2	All
                                            facilities, machinery, equipment, fixtures, vehicles and other properties owned, leased or
                                            used by the Company are maintained in a way consistent with the Company’s past practice.
                                            The Company is in compliance with all material terms of each lease to which it is a party
                                            or is otherwise bound. The Company owns, has a valid leasehold interest in or has the valid
                                            and enforceable right to use all assets, tangible or intangible, necessary for the conduct
                                            of its business as currently conducted and as proposed to be conducted by the Company as
                                            of the Closing Date.

 

    	- 29 -

     

    

 

	1.26	Inventory.
                                            All of the inventory of the Company: (a) was acquired and is sufficient for the operation
                                            of its business in the ordinary course of business consistent with the Company’s past
                                            practice; (b) is of a quality and quantity usable or saleable in the ordinary course of business
                                            consistent the Company’s past practice; (c) is valued on the books and records of the
                                            Company at the lower of cost or market with the cost determined under the first-in-first-out
                                            inventory valuation method consistent with the Company’s past practice; and (d) is
                                            free of any material defect or deficiency. The inventory levels maintained by the Company
                                            are adequate for the conduct of the operations of the Company in the ordinary course of business
                                            and consistent with the Company’s past practice.

 

	1.27	Bank
                                            Accounts. Section 1.27 of the Disclosure Schedule sets forth true, correct and
                                            complete information with respect to each account maintained by or for the benefit of the
                                            Company at any bank or other financial institution, including the name of the bank or financial
                                            institution, the account number, the balance as of the Financial Cut-Off Date (and whether
                                            any cash comprising such balances is “restricted cash”) and the names
                                            of all individuals authorized to draw on or make withdrawals from such accounts (and no changes
                                            to such information, except for change to the balance, shall have occurred as of the Closing
                                            Date).

 

	1.28	Accounts
                                            Payable. Section 1.28 of the Disclosure Schedule sets forth a true, correct and
                                            complete breakdown and aging of the accounts payable of the Company as of the Financial Cut-Off
                                            Date, which are individually or in the aggregate in excess of $25,000. All such accounts
                                            payable were incurred in the ordinary course of business consistent with past practice, are
                                            valid payables for products or services purchased by the Company and except as set forth
                                            on the Disclosure Schedule, as of the date of this Agreement and the Closing Date, there
                                            is no account payable that is outstanding more than 90 days past the invoice date.

 

	1.29	Related
                                            Party Transactions. Except as set forth on Section 1.29 of the Disclosure Schedule,
                                            no Related Party has, or has at any time had, any direct or indirect interest in any asset
                                            used in or otherwise relating to the business of the Company. No Related Party is, or has
                                            been, indebted to the Company. No Related Party has entered into, or has had any direct or
                                            indirect financial interest in, any Material Contract, transaction or business dealing involving
                                            the Company. No Related Party is competing, or has at any time competed, directly or indirectly,
                                            with the Company. No Related Party has any claim or right against the Company (other than
                                            claims or rights to receive compensation for services performed as an employee or as a director).

 

	1.30	Customers
                                            and Suppliers. Section 1.30 of the Disclosure Schedule sets forth a true, correct
                                            and complete list of the names and addresses of the Company’s top 10 suppliers (each,
                                            a “Supplier”, and together, the “Suppliers”). No Supplier
                                            (or former Supplier) during the prior 12 months has cancelled, terminated or made any threat
                                            to cancel or otherwise terminate any of such Supplier’s Contracts with the Company
                                            or to decrease such Supplier’s supply of services or products to the Company. The Company
                                            has provided to the Buyer true, correct and complete copies of all of such current Supplier
                                            Contracts, and all such Contracts are in full force and effect, have not been withdrawn,
                                            amended, modified or terminated and are enforceable by the Company. The Company has not received
                                            any notice and the Company does not have any actual or constructive knowledge to the effect
                                            that any current customer or supplier may withdraw, terminate or materially alter, amend
                                            or modify its business relations with the Company, either as a result of the transactions
                                            contemplated by this Agreement, or otherwise.

 

    	- 30 -

     

    

 

	1.31	Certain
                                            Payments. Neither the Company nor any manager, officer, employee, agent, consultant or
                                            other Person associated with or acting for or on behalf of the Company, has at any time,
                                            directly or indirectly: (a) used any corporate funds (i) to make any unlawful political contribution
                                            or gift or for any other unlawful purpose relating to any political activity; (ii) to make
                                            any unlawful payment to any governmental official or employee, including without limitation
                                            any payments made in violation of the FCPA or the UK Bribery Act; or (iii) to establish or
                                            maintain any unlawful or unrecorded fund or account of any nature; (b) made any false or
                                            fictitious entry, or failed to make any entry that should have been made, in any of the books
                                            of account or other records of the Company; (c) made any payoff, influence payment, bribe,
                                            rebate, kickback or unlawful payment to any Person; (d) performed any favor or given any
                                            gift which was not deductible for federal income tax purposes; (e) made any payment (whether
                                            or not lawful) to any Person, or provided (whether lawfully or unlawfully) any favor or anything
                                            of value (whether in the form of property or services, or in any other form) to any Person,
                                            for the purpose of obtaining or paying for (i) favorable treatment in securing business,
                                            or (ii) any other special concession; or (f)
agreed, committed, offered or attempted to take any of the actions described in clauses (a) through (e) above.

 

	1.32	Regulatory
                                            Filings. The Company has made all required registrations and filings with and submissions
                                            to all applicable Governmental Bodies relating to the operation of the business of the Company.
                                            There is no false or misleading information or significant omission in any submission to
                                            any Governmental Body. All such registrations, filings and submissions were in compliance
                                            in all material respects with all Laws and other requirements when filed. No material deficiencies
                                            have been asserted by any such applicable Governmental Bodies with respect to such registrations,
                                            filings or submissions and no facts or circumstances exist which would indicate that a material
                                            deficiency may be asserted by any such authority with respect to any such registration, filing
                                            or submission. The Company has delivered to the Buyer copies of (a) all material reports
                                            of inspection observations; (b) all material establishment inspection reports; (c) all material
                                            warning letters; and (d) any other material documents received by the Company from any Governmental
                                            Body relating to the business of the Company that assert ongoing material lack of compliance
                                            with any laws.

 

	1.33	OFAC.
                                            Neither the Company nor Representative of the Company, or any other Person acting for or
                                            on behalf of the Company has: (a) been or is currently subject to any United States sanctions
                                            administered by the Office of Foreign Assets Control of the United States Treasury Department
                                            (“OFAC”); or (b) engaged or is currently engaging in any business or other
                                            dealings with, in, involving, or relating to (i) any country subject to a comprehensive embargo
                                            under the sanctions administered by OFAC; or (ii) any Person subject to sanctions administered
                                            by OFAC.

 

	1.34	Purchased
                                            Share Certificate. All of the information contained in the shares certificates of the
                                            Company will be complete and accurate immediately prior to the Closing.

 

    	- 31 -

     

    

 

SCHEDULE
2

 

BUYER’S WARRANTIES

 

	(a)	The
                                            Buyer is duly incorporated or organised with limited liability and validly existing under
                                            the Laws of the jurisdiction of its incorporation or organisation, and has the full power
                                            and authority to enter into, execute and deliver this Agreement and to perform its obligations
                                            and the transactions contemplated therein.

 

	(b)	The
                                            execution and delivery by the Buyer of this Agreement and the performance by the Buyer of
                                            its obligations and the transactions contemplated hereunder has been duly authorised by all
                                            necessary corporate or other action of the Buyer.

 

	(c)	As
                                            at Closing, the Buyer has obtained all necessary governmental, regulatory and corporate authorisations
                                            as well as internal and third party approvals and consents for the performance of the obligations
                                            undertaken by the Buyer hereunder.

 

	(d)	This
                                            Agreement constitutes legal, valid and binding obligations of the Buyer enforceable in accordance
                                            with its terms, except as limited by applicable bankruptcy, insolvency, moratorium or similar
                                            federal or state laws affecting the rights of creditors, and is limited by laws relating
                                            to the availability of specific performance, injunctive relief or other equitable remedies.
                                            The execution and delivery of, and the performance of obligations under and compliance with
                                            the provisions of, this Agreement by the Buyer will not:

 

		(i)	contravene
                                            any order or judgments of any court or Governmental Body, statutory or regulatory body to
                                            which it is subject to which has the effect of making unlawful or otherwise prohibiting the
                                            transactions contemplated in this Agreement;

 

		(ii)	conflict
                                            with or be inconsistent with or result in any breach of any of the terms, covenants, conditions
                                            or provisions of, or constitute a default under, or result in the creation or imposition
                                            of (or the obligation to create or impose) any Encumbrance upon any of its respective property
                                            or assets pursuant to the terms of any agreement, contract or instrument to which it is a
                                            party or by which it or any of its property or assets is bound or to which it may be subject,
                                            respectively; or

 

		(iii)	require
                                            the consent of any person other than such as already given or waived or to be given or waived
                                            on or before Closing.

 

    	- 32 -

     

    

 

SCHEDULE
3

 

DISCLOSURE SCHEDULE

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date written above.

 

	Vendor	 	 
	 	 	 
	SIGNED
    by	)	 
	for
    and on behalf of	)	 
	UNIQUE
    LOGISTICS HOLDINGS LIMITED	)	 
	 	)	 
	 	)	 
	 	)	 

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date written above.

 

	Buyer	 	 
	 	 	 
	SIGNED
    by	)	 
	for
    and on behalf of	)	 
	UNIQUE
    LOGISTICS INTERNATIONAL, INC.	)	 
	 	)	 
	 	)Exhibit
10.7

 

Execution
Version

Strictly
Confidential

 

 

THIS
SHARE SALE AND PURCHASE AGREEMENT (this “Agreement”) is made on the 13th day of September 2022

 

BETWEEN:

 

	(1)	UNIQUE
                                            LOGISTICS HOLDINGS LIMITED of Unit 05-06, 3/F., Tower 2, Enterprise Square, 9 Sheung
                                            Yuet Road, Kowloon Bay, Kowloon, Hong Kong (the “Vendor”); and

 

	(2)	UNIQUE
                                            LOGISTICS INTERNATIONAL, INC. of 154-09 146th Avenue, Jamaica, New York 11434
                                            (the “Buyer”).

 

(The
Vendor and the Buyer shall collectively be referred to as the “Parties”, and individually as the “Party”.)

 

IT
IS AGREED as follows:

 

	1.	INTERPRETATION

 

	1.1	In
                                            this Agreement:

 

	 	“Acquisition
  Approval”	means
  approval issued by the relevant Government Body confirming the Buyer’s satisfaction of the statutory conditions as a foreign
  investor for the acquisition of the Sale Shares under this Agreement, pursuant to the provisions of Clause 2 of Article 26 of Law on
  Investment No. 61/2020/QH14, passed by the National Assembly of Vietnam on 17 June 2020;

 

		“Affiliate”	means,
                                            with respect to any specified Person, any other Person who or which, directly or indirectly,
                                            controls, is controlled by, or is under common control with such specified Person, including,
                                            without limitation, any general partner, limited partner, member, officer, director or manager
                                            of such Person. For purposes of this definition, the terms “controls,” “controlled
                                            by,” or “under common control with” means the possession, direct or indirect,
                                            of power to direct or cause the direction of management or policies (whether through ownership
                                            of voting securities, by contract or otherwise);

 

	 	“Applicable
  Benefit Laws”	means
  all Laws, including those of a jurisdiction outside of the United States, applicable to any Employee Plan;

 

	 	“Business
  Day”	means
  a weekday on which banks are open for general banking business in New York, New York and Hong Kong;

 

	 	“Board”	means
  the board of directors of the Company;

 

	 	“Capital
  Contribution Portion” 	means
  the charter capital contribution duly and fully contributed by the Vendor into the Company, with rights set out in the Constitutional
  Documents and the Laws of Vietnam, representing 65% of the total charter capital of the Company;

 

    	 

    	 

    

 

		“Charter”	means
                                            the charter of the Company dated 18th April 2010;
	 	 	 
		“Closing”	means
                                            the first phase of the sale and purchase of the Sale Shares in accordance with Clause 4;
	 	 	 
	 	“Closing
  Date”	has
  the meaning given to it in Clause 4.1;
	 	 	 
		“Company”	means
                                            Unique Logistics International (Vietnam) Co. Ltd, established and operating under the ERC,
                                            having its registered address at 181 Dien Bien Phu Street, Da Kao ward, District No.01, Ho
                                            Chi Minh City, Vietnam;
	 	 	 
	 	“Confidential
  Information”	has
  the meaning given to it in Clause 7.1;
	 	 	 
		“Contract”	means
                                            any written, oral or other agreement, contract, subcontract, lease, understanding, instrument,
                                            note, warranty, license, sublicense, insurance policy, benefit plan or legally binding commitment
                                            or undertaking of any nature, whether express or implied;
	 	 	 
	 	“Constituent
  Document”	means
  the incorporation and organisation related documents of the Company as amended and/or supplemented from time to time, consisting of
  the ERC, the Charter, the Joint Venture Agreement, any records of charter capital contributions, decisions and/or documentation records
  duly issued by the members of the Company and/or the Members Council relating to the establishment and organisation of the Company;
	 	 	 
	 	“Constitutional
  Documents”	means
  the constitutional documents of the Company (including the memorandum and articles of association of the Company, the certificate of
  incorporation if any), as may be amended and restated from time to time;
	 	 	 
	 	“Disclosure
  Schedule”	means
  the disclosure schedule (dated as of the date of this Agreement) delivered to the Buyer on behalf of Vendor on the date of this Agreement.
  The representations and warranties contained in this Agreement are subject to the qualifications and exceptions set forth in the Disclosure
  Schedule;
	 	 	 
	 	“Employee
  Plan”	means
  any employee benefit plan including: (i) any (a) nonqualified deferred compensation or retirement plan or arrangement or superannuation
  plan; (b) qualified defined contribution retirement plan or arrangement; or (c) qualified defined benefit retirement plan or arrangement,
  which is an “employee pension benefit plan”; (ii) any “employee welfare benefit plan” or material fringe benefit
  plan or program; or (iii) any stock purchase, stock option, profit sharing, deferred compensation, welfare, pension, retirement, severance
  pay, employment, change-in-control, vacation pay, equity awards, salary continuation, sick leave, excess benefit, bonus or other incentive
  compensation, life insurance, or other employee benefit plan, contract, program, policy or other arrangement. For the avoidance of
  doubt, “Employee Plan” does not include any employee benefit plan that is mandatory under applicable Law (such as the Hong
  Kong mandatory provident fund plan);

 

    	- 2 -

     

    

 

		“Encumbrance”	means
                                            any claim, charge, mortgage, lien, option, hypothecation, security interest, title retention,
                                            right of pre-emption, right of first refusal or any agreement, arrangement or obligation
                                            to create any of the foregoing, other than liens arising by operation of law or restrictions
                                            set out in the Constitutional Documents (if any);

 

		“Entity”	means
                                            any corporation (including any non-profit corporation), general partnership, limited partnership,
                                            limited liability partnership, joint venture, estate, trust (including any limited liability
                                            company or joint stock company), firm or other enterprise, association, organization or entity;

 

	 	“Environmental
  Law”	means
  any Law relating to the environment, occupational health and safety, or exposure of persons or property to Materials of Environmental
  Concern, including any statute, regulation, administrative decision or order pertaining to: (a) the presence of or the treatment, storage,
  disposal, generation, transportation, handling, distribution, manufacture, processing, use, import, export, labeling, recycling, registration,
  investigation or remediation of Materials of Environmental Concern or documentation related to the foregoing; (b) air, water and noise
  pollution; (c) groundwater and soil contamination; (d) the release, threatened release, or accidental release into the environment,
  the workplace or other areas of Materials of Environmental Concern, including emissions, discharges, injections, spills, escapes or
  dumping of Materials of Environmental Concern; (e) transfer of interests in or control of real property which may be contaminated;
  (f) community or worker right- to-know disclosures with respect to Materials of Environmental Concern; (g) the protection of wild life,
  marine life and wetlands, and endangered and threatened species; (h) storage tanks, vessels, containers, abandoned or discarded barrels
  and other closed receptacles; and (i) health and safety of employees and other persons;

 

    	- 3 -

     

    

 

	 	“ERC”	means
  Enterprise Registration Certificate No. 0310403753 issued by the Department of Planning and Investment of Ho Chi Minh City on 11 October
  2010, amended under the 4th amendment on 23rd July 2020, in the name of the Company, having its registered address
  at No. 181 Dien Bien Phu Street, Da Kao Ward, District 1, Ho Chi Minh City, Vietnam;

 

	 	“Escrow
  Account”	means
  an account to be opened under the terms and conditions of the Escrow Agreement;

 

	 	“Escrow
  Agent”	means
  Lucosky Brookman LLP, a limited liability partnership registered under the laws of the U.S. with its headquarters located in Woodbridge,
  New Jersey;

 

	 	“Escrow
  Agreement”	means
  the escrow service agreement to be executed by and among the Vendor, Buyer and the Escrow Agent.

 

	 	“Financial
  Cut-off Date”	means
  11:59 p.m. on December 31, 2021;

 

	 	“Government
  Bid”	means
  any quotation, bid or proposal submitted to any Governmental Body or any proposed prime contractor or higher-tier subcontractor of
  any Governmental Body;

 

	 	“Government
  Contract”	means
  any prime contract, subcontract, letter contract, purchase order or delivery order executed or submitted to or on behalf of any Governmental
  Body, or under which any Governmental Body otherwise has or may acquire any right or interest;

 

	 	“Governmental
  Authorization”	means
  any (a) approval, permit, license, certificate, certificate of approval, franchise, permission, clearance, registration, qualification
  or other authorization issued, granted, given or otherwise made available by or under the authority of any Governmental Body or pursuant
  to any Law, or (b) right under any Contract with any Governmental Body;

 

	 	“Governmental
  Body”	means
  any nation or government or any federation, province or state or any other political subdivision thereof; any entity, authority or
  body exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, including
  any governmental authority, agency, department, board, commission or instrumentality of any jurisdiction, including any department,
  agency or instrumentality of any government or political subdivision thereof; any court or arbitral tribunal and any self-regulatory
  organisation; and the governing body of any securities exchange, in each case having competent jurisdiction;

 

    	- 4 -

     

    

 

		“Indebtedness”	means,
                                            without duplication, the aggregate of the following: (a) all obligations for borrowed money
                                            (including the current portion thereof and all sums due on early termination and repayment
                                            or redemption calculated to the Closing Date), whether or not contingent, or issued or incurred
                                            in substitution or exchange for any such liability for borrowed money, or extensions of credit
                                            (including under credit cards, bank overdraw and advances), (b) all obligations evidenced
                                            by bonds, debentures, notes or other similar instruments (and including all sums due on early
                                            termination and repayment or redemption calculated to the Closing Date), (c) all obligations
                                            to pay the deferred purchase price of property or services, except trade accounts payable
                                            arising in the ordinary course of business consistent with past practice, (d) all obligations
                                            as lessee under leases that have been or should be, in accordance with GAAP, IFRS/local account
                                            rules, recorded as capital leases in respect of which the Company is liable as a lessee,
                                            (e) all obligations of others secured by a Lien on any asset of the Company (including accounts
                                            and contract rights), whether or not such obligations are assumed, (f) all obligations, contingent
                                            or otherwise, directly or indirectly guaranteeing any obligations of any other Person, all
                                            obligations to reimburse the issuer in respect of letters of credit or under performance
                                            or surety bonds, or other similar obligations; all obligations under which the Company has
                                            agreed (contingently or otherwise) to purchase or otherwise acquire the liability of any
                                            other Person or in respect of which the Company has otherwise assured a creditor against
                                            loss, (g) all obligations in respect of bankers’ acceptances, note purchases or similar
                                            facilities and under reverse repurchase agreements, (h) all obligations in respect of futures
                                            contracts, other financial contracts and other similar obligations (determined on a net basis
                                            as if such contract or obligation was being terminated early on such date), (i) the amount
                                            of any termination payments in connection with the payment in full of any obligations for
                                            borrowed money, (j) accrued employment obligations, including without limitation, accrued
                                            salary, accrued vacation and accrued bonuses, (k) deferred revenue, (l) all obligations created
                                            or arising under any conditional sale or other title retention agreement with respect to
                                            property acquired by the Company (even though the rights and remedies of the Company or lender
                                            under such agreement in the event of default are limited to repossession or sale of such
                                            property), (m) all obligations to purchase, redeem, retire or otherwise acquire for value
                                            any ownership interests or capital stock of the Company or any rights to acquire any ownership
                                            interests or capital stock of the Company, valued, in the case of redeemable ownership interests
                                            or capital stock, at the greater of its voluntary or involuntary liquidation preference plus
                                            accrued and unpaid dividends, (n) any obligations under any interest rate, foreign exchange,
                                            currency, commodity, credit or equity swap, cap, collar, floor, option, forward or other
                                            hedging agreement or derivative contract, net of any obligations to the Company thereunder,
                                            and (o) amounts due to the Buyer or its subsidiaries and other. For purposes of this Agreement,
                                            “Indebtedness” includes (i) any and all accrued interest, fees, change of control
                                            payments, prepayment premiums, make whole premiums or penalties and fees or expenses actually
                                            incurred (including attorneys’ fees) associated with the repayment of any Indebtedness,
                                            and (ii) any and all amounts of the nature described in clauses (a) through (o) above owed
                                            by the Company to any of its Affiliates, including any of the stockholders of the Company;

 

    	- 5 -

     

    

 

		“IRC”	means
                                            the Investment Registration Certificate of the Project Investment No. 5446587612 issued by
                                            the Department of Planning and Investment of Ho Chi Minh City for the 1st time on 9 December
                                            2015, the 3rd amendment on 28 October 2020;

 

		“IFRS”	means
                                            the International Financial Reporting Standards;

 

	 	“Intellectual
  Property Rights”	means
  all (a) foreign and domestic patents, patent applications, patent disclosures and inventions, (b) Internet domain names, trademarks,
  service marks, trade dress, trade names, logos and corporate or Company names (both foreign and domestic) and registrations and applications
  for registration thereof together with all of the goodwill associated therewith, (c) copyrights (registered or unregistered) and copyrightable
  works (both foreign and domestic) and registrations and applications for registration thereof, (d) mask works and registrations and
  applications for registration thereof, (e) computer software, data, data bases and documentation thereof, including rights to third
  party software used in the business, (f) trade secrets and other Confidential Information (including ideas, formulas, compositions,
  inventions (whether patentable or unpatentable and whether or not reduced to practice), know-how, manufacturing and production processes
  and techniques, research and development information, drawings, specifications, designs, plans, proposals, technical data, copyrightable
  works, financial and marketing plans and customer and supplier lists and information), (g) other intellectual property rights, and
  (h) copies and tangible embodiments thereof (in whatever form or medium);

 

    	- 6 -

     

    

 

	 	“Joint
  Release”	has
  the meaning given to it under Clause 5.1;

 

	 	“Joint
  Venture Agreement”	means
  the joint venture contract dated 18 April 2010 by and between the Vendor and the Vietnamese Parties;

 

	 	“Labor
  Laws”	means
  all Laws governing or concerning labor relations, unions and collective bargaining, conditions of employment, termination of employment,
  employee classification, background checks, employment discrimination and harassment, wages, hours, meal and rest periods, accrual
  and payment of vacation pay and paid time off, or occupational safety and health and the payment and withholding of Taxes and other
  sums as required by the appropriate Governmental Body;

 

		“Law”	means
                                            any applicable law, regulation, ruling, judgment, order or decree of any Governmental Body,
                                            and any applicable statute, regulation, proclamation, ordinance or by-law in any jurisdiction;

 

	 	“Leased
  Real Property”	means
  all leasehold or subleasehold estates and other rights to use or occupy any land, buildings, structures, improvements, fixtures or
  other interest in real property held by the Company;

 

	 	“Legal
  Proceeding”	means
  any ongoing or threatened action, suit, litigation, arbitration, proceeding (including any civil, criminal, administrative, investigative
  or appellate proceeding), hearing, order, inquiry, audit, examination or investigation commenced, brought, conducted or heard by or
  before, or otherwise involving, any court or other Governmental Body or any arbitrator or arbitration panel;

 

	 	“Licensed
  Intellectual Property”	means
  Intellectual Property licensed to the Company;

 

		“Lien”	means
                                            any lien, pledge, hypothecation, charge, mortgage, security interest, encumbrance, claim,
                                            infringement, interference, option, right of first refusal, pre-emptive right, community
                                            property interest or restriction of any nature affecting property, real or personal, tangible
                                            or intangible, including any restriction on the voting of any security, any restriction on
                                            the transfer of any security or other asset, any restriction on the receipt of any income
                                            derived from any asset, any restriction on the use of any asset, any restriction on the possession,
                                            exercise or transfer of any other attribute of ownership of any asset, any lease in the nature
                                            thereof and any filing of or agreement to give any financing statement under the US Uniform
                                            Commercial Code (or equivalent statute of any jurisdiction);

 

    	- 7 -

     

    

 

	 	“Material
  Adverse Effect”	means
  any state of facts, change, event, effect, occurrence or circumstance that, individually or in the aggregate (considered together with
  all other state of facts, change, event, effect, occurrence or circumstance) has, has had or could reasonably be expected to have or
  give rise to a material adverse effect on (a) the business, condition (financial or otherwise), results of operations, prospects, capitalization,
  assets, liabilities, operations or financial performance of the Company, (b) the ability of the Vendor to consummate the transactions
  contemplated by this Agreement or to perform any of its obligations under this Agreement, or (c) the Buyer’s ability to vote,
  receive dividends with respect to or otherwise exercise ownership rights with respect to the shares in the Company;

 

	 	“Materials
  of Environmental Concern”	means
  any: pollutants, contaminants or hazardous substances, pesticides, solid wastes and hazardous wastes, chemicals, other hazardous, radioactive
  or toxic materials, oil, petroleum and petroleum products (and fractions thereof), or any other material (or article containing such
  material) listed or subject to regulation under any Law due to its potential, directly or indirectly, to harm the environment or the
  health of humans or other living beings;

 

	 	“Members
  Council”	means
  the highest decision making body of the Company, consisting of the authorised representatives of the capital contributing members,
  as provided for under the Law on Enterprises No. 59/2020/QH14 passed by the National Assembly of Vietnam on 17 June 2020;

 

	 	“Owned
  Real Property”	means
  all land, together with all buildings, structures, improvements and fixtures located thereon, and all easements and other rights and
  interests appurtenant thereto, owned by the Company;

 

	 	“Permitted
  Lien”	means
  any (a) Lien for Taxes not yet due and payable, (b) Liens of carriers, warehousemen, mechanics, material men and repairmen incurred
  in the ordinary course of business consistent with past practice and not yet delinquent, and (c) in the case of real property, zoning,
  building, occupancy or other restrictions, variances, covenants, rights of way, encumbrances, easements and other minor irregularities
  in title, none of which, individually or in the aggregate, (i) interfere in any material respect with the present use of or occupancy
  of the affected parcel by the Company, (ii) have more than an immaterial effect on the value thereof or its use, or (iii) would impair
  the ability of such parcel to be sold for its present use;

 

    	- 8 -

     

    

 

		“Person”	means
                                            any individual, Entity, trust, Governmental Body or other organization;

 

	 	“Real
  Property”	means
  all Owned Real Property and the Leased Real Property;

 

	 	“Related
  Party”	means
  a party, whether an individual, corporation, partnership, association, limited liability company or any other form or business association
  or other entity whatsoever, related to the Vendor by blood, marriage, ownership or contract through which the party has a relationship
  of ownership or other interest with the Vendor so that the party will actually or by effect receive or control a portion of the benefit,
  profit or other consideration from performance of a Vendor contract with the party receiving an amount that meets or exceed five percent
  of the total contract amount;

 

		“Representatives”	means,
                                            with respect to a Person, the officers, directors, employees, agents, attorneys, accountants,
                                            advisors and representatives of such Person;

 

	 	“Sale
  Shares”	has
  the meaning given to it in Clause 2.1;

 

	 	“Shares”
  or “Charter Capital”	means
  the total charter capital of the Company with the value VND 3,320,000,000 as recorded in the ERC of the Company;

 

		“Tax”	means
                                            any tax (including income, gross receipts, windfall profit, occupation, license, registration,
                                            production, intangibles, inventory and merchandise, commercial activities, capital gains,
                                            capital stock, capital structure, transfer, value-added, franchise, excise, payroll, employment,
                                            severance, social security, unemployment, disability, workers’ compensation, environmental,
                                            ad valorem, alternative, minimum, add-on, escheat or unclaimed property, sales, use, real
                                            and personal property, estimated, stamp, recording, withholding and other taxes), fee, impost,
                                            levy, assessment, tariff, duty (including any customs duty) or deficiency, and any other
                                            related charge or amount of any kind whatsoever (including any fine, penalty, interest, or
                                            addition to tax), whether payable directly or by withholding and whether or not disputed,
                                            and any liability for any of the foregoing pursuant to US Treas. Reg. §1-1502-6 (or
                                            any similar provision of state, local or foreign tax legal requirements), as transferee or
                                            successor, by contract or otherwise, imposed, assessed, or collected by or under the authority
                                            of any Governmental Body or payable pursuant to any tax-sharing agreement or any other Contract
                                            relating to the sharing or payment of any such tax, fee, impost, levy, assessment, tariff,
                                            duty or deficiency;

 

    	- 9 -

     

    

 

	 	“Tax
  Returns”	means
  any and all reports, returns, or declarations relating to Taxes filed or required to be filed with any Governmental Body, including
  any schedule or attachment thereto, including any amendment thereof;

 

		“US$”	means
                                            the United States dollar, the lawful currency of the United States of America;

 

		“VND”	means
                                            the Vietnam Dong, the lawful currency of the Socialist Republic of Vietnam.

 

	 	“Vietnamese
  Parties”	means
  (i) AOM Logistics Co., Ltd., a company established and operating under the Laws of Vietnam under enterprise registration certificate
  No. 0304912625, having its registered address at No. 181 Dien Bien Phu Street, Da Kao Ward, District 1, Ho Chi Minh City, Vietnam;
  and (ii) Mr. Tran Duy Hoa, a Vietnamese citizen having identity card No. 001070020219 issued on 04 November 2019 by the Police Department
  for administrative management and social order.

 

	1.2	In
                                            this Agreement:

 

		(a)	references
                                            to a person include any individual, firm, company, government, state or agency of a state
                                            or any association, trust, joint venture, consortium, partnership (whether or not having
                                            separate legal personality), a body corporate and an unincorporated association of persons;

 

		(b)	references
                                            to a Party include references to its successors and permitted assignees;

 

		(c)	unless
                                            the context requires otherwise, words incorporating the singular shall include the plural
                                            and vice versa and words importing a gender shall include every gender;

 

		(d)	references
                                            herein to Clauses, Recitals, Schedules and Exhibits are to clauses and recitals of, and schedules
                                            and exhibits to, this Agreement; and all Recitals and Schedules form an integral part of
                                            this Agreement and have the same force and effect as if expressly set out in the body of
                                            this Agreement, and any reference to this Agreement includes the Recitals and the Schedules;

 

		(e)	all
                                            references to “$” contained in this Agreement shall refer to United States Dollars
                                            unless otherwise stated; and

 

		(f)	the
                                            following exchange rate shall be adopted:

 

	Currency	 	Exchange
    Rate
	USD
    to VND	 	1:23,025.8824

 

    	- 10 -

     

    

 

	1.3	In
                                            this Agreement, any reference, express or implied, to an enactment includes references to:

 

		(a)	that
                                            enactment as re-enacted, amended, extended or applied by or under any other enactment (before
                                            or after the signature of this Agreement);

 

		(b)	any
                                            enactment which that enactment re-enacts (with or without modification);

 

		(c)	any
                                            subordinate legislation made (before or after the signature of this Agreement) under any
                                            enactment, as re-enacted, amended, extended or applied as described in Clause 1.3(a) above,
                                            or under any enactment referred to in Clause 1.3(b) above; and

 

		(d)	provided
                                            that no such enactment or subordinate legislation made after the date of this Agreement shall
                                            increase the liability of any Party under this Agreement, and “enactment”
                                            includes any legislation in any jurisdiction.

 

	1.4	The
                                            table of contents and headings in this Agreement do not affect its interpretation.

 

	2.	SALE
                                            AND PURCHASE

 

	2.1	At
                                            Closing, subject to the terms of this Agreement, the Vendor shall sell to the Buyer, and
                                            the Buyer shall purchase from the Vendor, the Capital Contribution Portion (the “Sale
                                            Shares”) together with all rights attaching or accruing to them at and from Closing.

 

	2.2	The
                                            consideration payable by the Buyer for the purchase of the Sale Shares from the Vendor shall
                                            be US$4,000,000 (the “Sale Price”).

 

	3.	CONDITIONS

 

	3.1	Completion
                                            of the transfer of the Sale Shares by the Vendor to the Buyer under this Agreement is conditional
                                            on the following conditions (the “Conditions”) being satisfied, namely:

 

		(a)	the
                                            Vendor having obtained all necessary governmental, regulatory and corporate authorisations
                                            as well as third party approvals and consents, for the entering into of this Agreement and
                                            the performance of the obligations undertaken by the Vendor and other relevant conditions
                                            specified in Clause 4 and Clause Error! Reference source not found. as applicable
                                            to the Vendor for Closing and Post-Closing respectively. For the avoidance of doubt, any
                                            costs arising out of or in connection with the obtaining of any authorisations, approvals
                                            or consents required by the Vendor under this Clause 3.1(a) shall be borne solely by the
                                            Vendor;

 

		(b)	the
                                            representations and warranties of the Vendor in Clause 6.1 hereof shall be true and correct
                                            on and as of the Closing Date with the same effect as though made at and as of such date;

 

		(c)	the
                                            Buyer having obtained all necessary governmental, regulatory and corporate authorisations
                                            as well as third party approvals and consents, for the entering into of this Agreement and
                                            the performance of the obligations undertaken by the Buyer and other relevant conditions
                                            specified in Clause 4 and Clause Error! Reference source not found. as applicable
                                            to the Buyer for Closing and Post-Closing respectively. For the avoidance of doubt, any costs
                                            arising out of or in connection with the obtaining of any authorisations, approvals or consents
                                            required by the Buyer under this Clause 3.1(c) shall be borne solely by the Buyer; and

 

    	- 11 -

     

    

 

		(d)	the
                                            representations and warranties of the Buyer in Clause 6.2 of this Agreement hereof shall
                                            be true and correct on and as of the Closing Date with the same effect as though made at
                                            and as of such date.

 

	3.2	The
                                            Conditions set out in Clauses 3.1(a) and (b) may be waived by the Buyer (in part or in whole)
                                            in writing.

 

	3.3	The
                                            Conditions set out in Clauses 3.1(c) and (d) may be waived by the Vendor (in part or in whole)
                                            in writing.

 

	4.	CLOSING

 

	4.1	At
                                            the Closing, on the date as agreed by Parties (“Closing Date”), upon its
                                            receipt of evidences of Vendor’s ownership of the Sale Shares as specified in Clause
                                            4.2, the Buyer shall deposit into the Escrow Account the Sale Price, and deliver at Closing
                                            to the Escrow Agent and the Vendor a executed copy of any instrument evidencing that the
                                            Sale Price has been deposited into the Escrow Account in accordance with the terms and conditions
                                            set out in the Escrow Agreement.

 

	4.2	On
                                            or before Closing Date, the Vendor shall deliver to the Buyer the following documents:

 

		(i)	the
                                            certified copy of the certificate of capital contributions representing the Vendor’s
                                            ownership over the capital contributions equivalent to 68% of the Company’s Charter
                                            Capital, duly endorsed by the Company;

 

		(ii)	the
                                            certified copy of the Company’s current members registry recording the Vendor as a
                                            member with its capital contributions equivalent to 68% of the Company’s Charter Capital;

 

		(iii)	the
                                            certified copy of the ERC recording the Vendor as a member with its capital contributions
                                            equivalent to 68% of the Company’s Charter Capital; and

 

		(iv)	the
                                            certified copy of the IRC recording the Vendor as one of the investors of the investment
                                            project as specified therein (“Investment Project”) with its capital
                                            contributions equivalent to 68% of the total capital contribution of investors for the implementation
                                            of the investment project.

 

	5.	POST-CLOSING

 

	5.1	Upon
                                            the satisfaction (or waiver pursuant to Clauses 3.2 and 3.3) by each of the Parties of the
                                            respective Conditions set out in Clause 3.1, at a date as agreed by the Parties but no later
                                            than 180 days as from the Closing Date, and subject to the Escrow Agreement, the Buyer and
                                            Vendor shall deliver duly executed joint release instruction (“Joint Release”)
                                            to the Escrow Agent to effectuate the release of the Sale Price by wire transfer of immediately
                                            available Sale Price to the account designated by Vendor.

 

	5.2	If
                                            the Buyer has used its best efforts to apply for the Acquisition Approval, but cannot obtain
                                            the Acquisition Approval within 180 days from the Closing Date, within 3 days from the expiry
                                            date of the period of 180 days from the Closing Date, the Buyer and the Vendor shall, unless
                                            otherwise agreed in writing, duly execute and deliver a Joint Release of the Sale Price to
                                            the Escrow Agent in order to release such Sale Price to the Buyer by wire transfer of immediately
                                            available Sale Price to the account designated by the Buyer. In such case, this Agreement
                                            shall terminate and cease to be valid and binding upon the Parties with immediate effect
                                            and without any further confirmation from any Party.

 

    	- 12 -

     

    

 

	5.3	Upon
                                            the release of the Sale Price to the Vendor pursuant to the Joint Release under Clause 5.1
                                            above, on the same date of such release (“Post-Closing Date”),
                                            the Parties shall deliver and hand-over to each other the following documents:

 

		(a)	the
                                            Vendor shall deliver, or procure the Company shall deliver, to the Buyer the following documents
                                            in the form and substance subject to the Buyer’s reasonable satisfaction:

 

		(i)	the
                                            certificate of capital contributions representing the Sale Shares issued by the Company in
                                            the name of the Buyer as the owner of such Sale Shares;

 

		(ii)	a
                                            certified copy of the updated Company’s members registry recording the Buyer as the
                                            new member with its capital contributions equivalent to 65% of the Company’s Charter
                                            Capital and the Vendor as a member with its capital contributions equivalent to 3% of the
                                            Company’s Charter Capital; and Mr Tran Duy Hoa as the member with his capital contributions
                                            equivalent to 32% of the Company’s Charter Capital;

 

		(iii)	written
                                            resignations of the Vendor’s authorized representatives from their existing positions
                                            of member(s) in the Company’s Members’ Council and the legal representative cum
                                            the General Director of the Company confirming that they desire to resign from their positions
                                            and have no further claims against the Company, all to be effective at Post-Closing Date;

 

		(iv)	Minutes
                                            of Meeting and the Resolutions of Members Council of the Company duly approving (i) the resignation
                                            of Vendor’s authorized representatives from their existing position in the Company’s
                                            Members Council; (ii) the resignation of the legal representative cum the General Director
                                            of the Company and (ii) the appointment of the Buyer’s personnel to be members of Members’
                                            Council of the Company and to the position of the legal representative cum the General Director
                                            of the Company, all to be effective at Post-Closing Date;

 

		(v)	Minutes
                                            of Meeting and the Resolutions of the Members Council of the Company approving the appointment
                                            of person(s) as designated by the Buyer to be the authorized signatories of bank account(s)
                                            of the Company, all to be effective at Post-Closing Date;

 

		(vi)	the
                                            Vendor’s written offer offering the Sale Shares to Mr. Tran Duy Hoa and Letter of Refusal
                                            of Mr. Tran Duy Hoa refusing such offer of the Vendor and other supporting documents (if
                                            any);

 

		(vii)	Minutes
                                            of Meeting of the Member Council of the Company on the approval of the Buyer’s purchase
                                            of the Sale Shares from the Vendor;

 

		(viii)	the
                                            true certified copies of corporate authorisations and/or approvals of the Vendor for the
                                            execution and performance of the obligations undertaken by the Vendor under this Agreement;

 

		(ix)	the
                                            amended Charter in the form and substance subject to both Parties’ reasonable satisfaction;
                                            and

 

		(x)	countersigned
                                            copy of the amended Joint Venture Agreement incorporating the Buyer as signing party in the
                                            form and substance subject to both Parties’ reasonable satisfaction.

 

    	- 13 -

     

    

 

		(b)	the
                                            Buyer shall deliver to the Company and/or the Vendor the following documents:

 

		(i)	the
                                            amended ERC which records (i) the Buyer as a new member of the Company holding Sale Shares
                                            accounting for 65% of the Company’s Charter Capital; (ii) the Vendor as a member holding
                                            capital contributions accounting for 3% of the Company’s Charter Capital; and (iii)
                                            Mr. Tran Duy Hoa as a member holding capital contributions accounting for 32% of the Company’s
                                            Charter Capital; (iv) and other changes as necessary with respect to the change of the Company’s
                                            legal representative cum General Director (the “Amended ERC”);

 

		(ii)	the
                                            amended IRC which records (i) the Buyer as the new investor with its ownership of 65% of
                                            the total capital contributions of investors to conduct the Investment Project; (ii) the
                                            Vendor as an investor with its ownership of 3% of the total capital contributions of investors
                                            to conduct the Investment Project; and (iii) Mr. Tran Duy Hoa as an investor with his ownership
                                            of 32% of the total capital contributions of investors to conduct the Investment Project
                                            (the “Amended IRC”);

 

		(iii)	a
                                            certified copy of the Acquisition Approval;

 

		(iv)	a
                                            certified copy of the Buyer’s written offer to Mr Tran Duy Hoa to acquire all of the
                                            capital contributions of Mr. Tran Duy Hoa in the Company’s Charter Capital on the same
                                            terms and conditions of the Buyer’s purchase of Sale Shares from the Vendor whereby
                                            Mr Tran Duy Hoa shall have at least thirty (30) days to accept such offer (the “Buyer’s
                                            Offer”);

 

		(v)	a
                                            certified copy of the Letter of Refusal of Mr. Tran Duy Hoa refusing the Buyer’s Offer;

 

		(vi)	true
                                            certified copies of corporate authorisations and/or approvals of the Buyer for the execution
                                            and performance of the obligations undertaken by the Buyer under this Agreement;

 

		(vii)	a
                                            countersigned copy of the amended Joint Venture Agreement incorporating the Buyer as signing
                                            party in the form and substance subject to both Parties’ reasonable satisfaction.

 

For
the avoidances of any doubts, in this context, the Buyer and the Vendor hereby agree that the Buyer shall take charge of conducting procedures
with Vietnamese competent authorities in obtaining the Acquisition Approval, the Amended ERC and the Amended IRC where all incurred costs
and expenses shall be equally shared by both Parties. For facilitating such procedures, the Vendor hereby undertakes, and/or shall procure
the Company to undertake, that it shall promptly and closely cooperate and support the Buyer in performing the aforesaid procedures,
including but not limited to the execution and delivery of any and all documents, instruments and writings and doing all things reasonably
necessary for the obtainment of the Acquisition Approval, the Amended ERC and the Amended IRC.

 

	5.4	The
                                            Vendor shall execute all documents as reasonably requested by the Company for it to withhold,
                                            declare and pay for and on behalf of the Vendor any applicable Taxes on the Sale Price (if
                                            applicable).

 

	5.5	Within
                                            3 months after the Post-Closing Date, the Vendor shall deliver, or procure the Company to
                                            deliver, to the Buyer evidence reasonably satisfactory to the Buyer of termination of the
                                            General Facility Agreement dated September 18th 2018 together with Annex 01 dated
                                            September 4th 2020 and Annex 02 dated 14th October 2020 between the
                                            Company and HSBC Bank (Vietnam) Ltd. The Buyer shall co-operate and provide all reasonable
                                            assistance and act as may be reasonably necessary to allow the Vendor to comply with its
                                            obligations under this Clause 5.5.

 

    	- 14 -

     

    

 

	6.	WARRANTIES

 

	6.1	The
                                            Vendor hereby warrants and undertakes to and with the Buyer with respect to itself and the
                                            Sale Shares they hold that the warranties set out in Schedule 1 are true and accurate on
                                            the date hereof and on the Closing Date.

 

	6.2	The
                                            Buyer hereby warrants and undertakes to and with the Vendor that the warranties set out in
                                            Schedule 2 are true and correct on the date hereof and on the Closing Date.

 

	6.3	Notwithstanding
                                            any contrary provision in this Agreement, any representation or warranty set forth in this
                                            Agreement is qualified by the conditions that all representation and warranties are made
                                            and given to the best of knowledge and belief of the party giving the relevant representation
                                            and warranties.

 

	6.4	The
                                            Disclosure Schedule constitutes formal disclosure to the Buyer for the purposes of this Agreement
                                            of the facts and circumstance which are or may be inconsistent with the representations and
                                            warranties under this Agreement. Such facts and circumstances will be deemed to qualify the
                                            representations and warranties accordingly. Notwithstanding that reference may in some cases
                                            be made in the Disclosure Schedule to particular warranties or other provisions of this Agreement,
                                            all disclosures are made on the basis that they are made against all of the warranties and
                                            representations and the Buyer shall not be entitled to claim that any fact or matter has
                                            not been disclosed to it by reason of the relevant disclosure not being specifically related
                                            to any one or more of the representations or warranties or other provisions.

 

	7.	CONFIDENTIALITY

 

	7.1	The
                                            terms and conditions of this Agreement (collectively, the “Confidential Information”),
                                            including their existence, shall be considered confidential information and shall not be
                                            disclosed by any of the Parties to any other person except that (i) each Party, as appropriate,
                                            may disclose any of the Confidential Information to its current or bona fide prospective
                                            investors, prospective permitted transferees, employees, investment bankers, lenders, accountants
                                            and attorneys, in each case only where such persons are under appropriate nondisclosure obligations;
                                            (ii) each Party may disclose any of the Confidential Information to its fund manager, its
                                            associated companies and the employees thereof so long as such persons are under appropriate
                                            nondisclosure obligations; (iii) each Party may disclose the Confidential Information to
                                            the extent required under applicable Law for the purpose of Closing; and (iv) if any Party
                                            is requested or becomes legally compelled (including without limitation, pursuant to securities
                                            Laws) to disclose the existence or content of any of the Confidential Information in contravention
                                            of the provisions of this Clause 7.1, such Party shall, to the extent permitted by law, promptly
                                            provide the other Party with written notice of that fact so that such other Party may seek
                                            a protective order, confidential treatment or other appropriate remedy and in any event shall
                                            furnish only that portion of the information that is legally required and shall exercise
                                            reasonable efforts to obtain reliable assurance that confidential treatment will be accorded
                                            such information.

 

	7.2	Except
                                            as required by Law, by any Governmental Body or by any relevant stock exchange on which the
                                            shares of a Party or its parent company are listed or as otherwise agreed by all the Parties,
                                            no publicity release or public announcement concerning the relationship or involvement of
                                            the Parties shall be made by any Party.

 

    	- 15 -

     

    

 

	8.	EFFECTIVE
                                            DATE AND TERMINATION

 

	8.1	Effective
                                            Date; Termination

 

This
Agreement shall become effective upon execution by all of the Parties and shall continue in force until terminated in accordance with
Clause 8.2(a).

 

	8.2	Termination
                                            of Agreement

 

		(a)	This
                                            Agreement may be terminated at any time prior to the Closing Date by mutual written consent
                                            of the Parties.

 

		(b)	Save
                                            for the express termination rights in Clause 8.2(a), no Party shall be entitled to terminate
                                            or rescind this Agreement whether before or after Closing.

 

		(c)	Upon
                                            the termination of this Agreement, all rights and obligations of the Parties shall cease
                                            to have effect, provided however that:

 

		(i)	the
                                            termination of this Agreement shall be without prejudice to all rights and remedies available
                                            to each Party in respect of any breach by the other Party of obligations under or in respect
                                            of this Agreement prior to the termination of this Agreement;

 

		(ii)	the
                                            following shall survive the termination of this Agreement: Clause 1 (Interpretation), Clause
                                            7 (Confidentiality), Clause 8 (Effective Date and Termination), Clause 10 (Notices), Clause
                                            11 (Costs), and Clause 14 (Governing Law and Dispute Resolution).

 

	9.	ASSIGNMENT

 

This
Agreement will be binding upon and inure to the benefit of the Parties hereto and their respective successors and permitted assigns;
provided, however, that no party hereto may assign its rights or delegate its obligations, in whole or in part, under this Agreement
without the prior written consent of the other Party hereto. Any purported assignment or delegation in violation of this Agreement shall
be null and void ab initio.

 

	10.	NOTICES

 

	10.1	Any
                                            notice or other communication to be given under this Agreement shall be in writing and may
                                            be delivered in person, or sent by registered mail to the relevant Party at its address appearing
                                            in this Agreement or at such other address as it may notify to the other Party under this
                                            Clause 10.

 

	10.2	Unless
                                            there is evidence that it was received earlier, a notice or communication is deemed given
                                            if:

 

		(a)	delivered
                                            in person, when left at the address referred to in Clause 10.1; and

 

		(b)	sent
                                            by prepaid registered post or courier, three (3) Business Days (or five (5) Business Days
                                            if sent by airmail) after posting it.

 

    	- 16 -

     

    

 

	11.	COSTS

 

Unless
expressly provided to the contrary in this Agreement, each Party shall bear its own costs arising out of or in connection with the preparation,
negotiation and implementation of this Agreement and the performance of its obligations therein.

 

	12.	ENTIRE
                                            AGREEMENT

 

This
Agreement contain the entire agreement between the Parties relating to the transactions contemplated by this Agreement, and supersede
all previous agreements, arrangements or understandings, including any term sheet or memorandum of understanding, whether oral or in
writing, between the Parties relating to these transactions. Each Party acknowledges that in entering into this Agreement, it has not
relied on any representation, promise or undertaking (whether oral or in writing) except such as are expressly incorporated into this
Agreement.

 

	13.	FURTHER
                                            ASSURANCE

 

Each
Party agrees to perform (or procure the performance of) all further acts and things, and execute and deliver (or procure the execution
and delivery of) such further documents, as may be required by Law or as the other Party may reasonably require to implement and/or give
effect to this Agreement, and the matters contemplated by this Agreement.

 

	14.	GOVERNING
                                            LAW AND DISPUTE RESOLUTION

 

	14.1	Subject
                                            to any contrary mandatory law in Vietnam, this Agreement and the relationship of the parties
                                            hereto shall be governed by and construed in accordance with the internal laws (and not the
                                            law of conflicts) of the State of New York.

 

	14.2	All
                                            actions arising out of or relating to this Agreement shall be heard and determined exclusively
                                            in any state or federal court located in New York, New York (or in any appellate court thereof)
                                            (the “Specified Courts”). Each Party hereto hereby (a) submits to the
                                            exclusive jurisdiction of any Specified Court for the purpose of any action arising out of
                                            or relating to this Agreement brought by any party hereto and (b) irrevocably waives, and
                                            agrees not to assert by way of motion, defense or otherwise, in any such action, any claim
                                            that it is not subject personally to the jurisdiction of the above-named courts, that its
                                            property is exempt or immune from attachment or execution, that the action is brought in
                                            an inconvenient forum, that the venue of the action is improper, or that this Agreement or
                                            the transactions contemplated hereby may not be enforced in or by any Specified Court. Each
                                            Party agrees that a final judgment in any action shall be conclusive and may be enforced
                                            in other jurisdictions by suit on the judgment or in any other manner provided by Law.

 

	15.	GENERAL

 

	15.1	With
                                            regard to each and every term and condition of this Agreement, the Parties hereto understand
                                            and agree that the same has or have been mutually negotiated, prepared and drafted, and if
                                            at any time the Parties hereto desire or are required to interpret or construe any such term
                                            or condition, no consideration will be given to the issue of which Party hereto actually
                                            prepared, drafted or requested any term or condition of this Agreement.

 

	15.2	The
                                            provisions contained in each Clause of this Agreement shall be enforceable independently
                                            of each of the others. If any provision of this Agreement is held by a court to be invalid,
                                            void or unenforceable, the remaining provisions shall nevertheless continue in full force
                                            and effect without being impaired or invalidated in any way and shall be construed in accordance
                                            with the purposes and tenor and effect of this Agreement.

 

    	- 17 -

     

    

 

	15.3	This
                                            Agreement may be executed (including by facsimile or electronic signatures) in any number
                                            of counterparts, all of which, taken together, shall constitute one and the same agreement,
                                            and any Party may enter into this Agreement by executing a counterpart.

 

	15.4	Nothing
                                            in this Agreement shall be deemed to constitute a partnership between the Parties nor constitute
                                            any Party the agent of the other Party for any purpose.

 

	15.5	The
                                            failure to exercise or the delay in exercising any right, power or remedy provided by Law
                                            or under this Agreement shall not operate to impair the same or be construed as a waiver
                                            thereof, and no single or partial exercise of any such right, power or remedy shall prevent
                                            any further or other exercise of the same or the exercise of any other right, power or remedy.

 

	15.6	No
                                            waiver by any Party of any requirement of this Agreement or of any remedy or right under
                                            this Agreement shall have effect unless given by notice in writing signed by such Party.
                                            No waiver of any particular breach of the provisions of this Agreement shall operate as a
                                            waiver of any repetition of such breach.

 

	15.7	Subject
                                            to the terms of this Agreement, this Agreement (other than obligations that have already
                                            been fully performed) remains in full force after Closing.

 

	15.8	No
                                            amendment, change or addition hereto shall be effective or binding on any Party unless made
                                            in writing and executed by all the Parties.

 

	15.9	The
                                            maximum aggregate liability of the Vendor for all claims under this Agreement is equal to
                                            the Sale Price. The Vendor shall not be liable for a claim unless the Vendor’s liability
                                            in respect of such claim exceeds $25,000. The Vendor has no liability for any claim under
                                            this Agreement unless it receives written notice specifying the matter which gives rise to
                                            the claim, the nature of the claim and the amount claimed within 2 years after the Closing
                                            Date.

 

(The
remainder of this page is intentionally left blank)

 

    	- 18 -

     

    

 

SCHEDULE
1

 

VENDOR’S
WARRANTIES

 

	1.1	The
                                            Vendor is duly incorporated or organised with limited liability and validly existing under
                                            the Laws of the jurisdiction of its incorporation or organisation, and has the full power
                                            and authority to enter into, execute and deliver this Agreement and to perform its obligations
                                            and the transactions contemplated therein.

 

	1.2	The
                                            execution and delivery by the Vendor of this Agreement and the performance by the Vendor
                                            of its obligations and the transactions contemplated hereunder has been duly authorised by
                                            all necessary corporate or other action of the Vendor.

 

	1.3	As
                                            at Closing, the Vendor has obtained all necessary governmental, regulatory and corporate
                                            authorisations as well as internal and third party approvals and consents for the performance
                                            of the obligations undertaken by the Vendor hereunder, including any waivers of pre-emptive
                                            rights other members in the Company may have under the applicable Law or Constitutional Documents
                                            that would be applicable to the purchase and transfer of the Sale Shares.

 

	1.4	This
                                            Agreement constitutes the legal, valid and binding obligations of the Vendor enforceable
                                            in accordance with its terms, except as limited by applicable bankruptcy, insolvency, moratorium
                                            or similar federal or state laws affecting the rights of creditors, and is limited by laws
                                            relating to the availability of specific performance, injunctive relief or other equitable
                                            remedies. The execution and delivery of, and the performance of obligations under and compliance
                                            with the provisions of, this Agreement by the Vendor will not:

 

		1.4.1	contravene
                                            any order or judgments of any court or Governmental Body, statutory or regulatory body to
                                            which it is subject to which has the effect of making unlawful or otherwise prohibiting the
                                            transactions contemplated in this Agreement by the Vendor;

 

		1.4.2	conflict
                                            with or be inconsistent with or result in any breach of any of the terms, covenants, conditions
                                            or provisions of, or constitute a default under, or result in the creation or imposition
                                            of (or the obligation to create or impose) any Encumbrance upon any of it respective property
                                            or assets pursuant to the terms of any agreement, contract or instrument to which the Vendor
                                            or the Company is a party or by which the Vendor or the Company or any of their respective
                                            property or assets is bound or to which it may be subject to respectively; or

 

		1.4.3	require
                                            the consent of any person other than such as already given or waived or to be given or waived
                                            on or before Closing.

 

	1.5	The
                                            Vendor is the owner of the Sale Shares. The Sale Shares have been validly issued and fully
                                            paid up, and are free of any Encumbrance.

 

	1.6	No
                                            Governmental Authorization, or registration, declaration, notice or filing with, any Governmental
                                            Body is required by or with respect to the Vendor or the Company: (i) in connection with
                                            the execution and delivery of this Agreement or the consummation of the transactions contemplated
                                            by this Agreement (except for payment of any stamp duty); or (ii) necessary for the Company
                                            to operate its business immediately after the Closing in the same manner as operated immediately
                                            prior to the Closing after giving effect to the consummation of the transactions contemplated
                                            by this Agreement.

 

	1.7	Organization
                                            and Good Standing.

 

		1.7.1	The
                                            Company is a corporation duly incorporated, validly existing and in good standing under the
                                            laws of the jurisdiction in which it was incorporated, has all requisite and necessary power
                                            and authority to own, lease, use and operate its properties and assets, to carry on and conduct
                                            its business as now being conducted and as proposed to be conducted by the Company as of
                                            the Closing Date and to perform its obligations under all Material Contracts (as defined
                                            below), and is not (and has never been) duly qualified or registered to do business in a
                                            jurisdiction other than the jurisdiction in which it was incorporated.

 

    	- 19 -

     

    

 

		1.7.2	The
                                            Vendor has full corporate power and authority to do and perform all acts and things to be
                                            done by it under this Agreement.

 

		1.7.3	The
                                            Company has not conducted any business under or otherwise used, for any purpose or in any
                                            jurisdiction, any fictitious name, assumed name, trade name or other name other than the
                                            name under which the Company is currently incorporated.

 

		1.7.4	The
                                            Vendor has provided to the Buyer true, correct and complete copies of: (i) the Constituent
                                            Documents of the Company, as in effect on the date of this Agreement, and such copies reflect
                                            all amendments made thereto at any time prior to the date of this Agreement, (ii) the records
                                            of capital contributions of the Company, (iii) the decisions, the minutes and other records
                                            of the meetings and other proceedings (including any actions taken by written consent or
                                            otherwise without a meeting) of the Members’ Council, (clauses (i), (ii) and (iii),
                                            collectively, the “Company Constituent Documents”). There have been no
                                            formal meetings or other proceedings of Members’ Council of the Company, the board
                                            of management of the Company that are not fully reflected in the Company Constituent Documents.
                                            There has not been any violation of the Company Constituent Documents, and the Company has
                                            not taken any action that is prohibited by the Company Constituent Documents. The Company
                                            is not in default under or in violation of any material provision of its Constituent Documents.
                                            The books and records of the Company are up to date, true, correct and complete in all material
                                            respects. All the records of the Company have been maintained in accordance with applicable
                                            Laws and prudent business practices and are in the actual possession and direct control of
                                            the Company.

 

	1.8	Capitalization.

 

		1.8.1	The
                                            Company has not issued any warrants (each, a “Warrant”), options (each,
                                            an “Option”) or rights (each, a “Right”) with respect
                                            to the charter capital of itself. The Company does not have any outstanding stock appreciation
                                            rights, phantom stock, performance-based stock or equity rights or similar stock or equity
                                            rights or obligations. The Company has not issued any debt securities which grant the holder
                                            thereof any right to vote on, or veto, any actions by the Company.

 

		1.8.2	The
                                            Capital Contribution Portion is not subject to a repurchase or redemption right or right
                                            of first refusal in favor of the Company, except for the mandatory redemption right and pre-emptive
                                            right under Law on Enterprises 2020.

 

		1.8.3	The
                                            Company is not a party to or bound by any agreements or understandings with respect to the
                                            voting (including pooling agreements, voting trusts and proxies) or sale or transfer (including
                                            agreements imposing transfer restrictions) of any capital stock or other equity interests
                                            of the Company.

 

		1.8.4	None
                                            of the charter capital interests of the Company is entitled or subject to any purchase option,
                                            call option, right of first refusal, pre-emptive right, right of participation, subscription
                                            right or any similar right (whether pursuant to the Company Constituent Documents or any
                                            Contract to which the Company is subject) (other than the mandatory redemption right and
                                            pre-emptive right) and there is no Contract relating to information rights, financial statement
                                            requirements, the voting or registration of, or restricting any Person from purchasing, selling,
                                            pledging, transferring or otherwise disposing of (or granting any option or similar right
                                            with respect to), any of the Company’s capital stock. The Company is not under any
                                            obligation, or bound by any Contract pursuant to which it may become obligated (i) to repurchase,
                                            redeem or otherwise acquire any capital contribution portions in the Company; or (ii) make
                                            any investment (in the form of a loan or capital contribution) in any other Entity.

 

    	- 20 -

     

    

 

		1.8.5	The
                                            Company has never repurchased, redeemed or otherwise reacquired any capital contribution
                                            portions of its members.

 

		1.8.6	The
                                            Company is not now, nor has it ever been, required to file any periodic or other reports,
                                            or any registration statement, with any applicable securities regulatory authority, pursuant
                                            to any securities legislation, regulations or rules or policies.

 

	1.9	Subsidiaries.
                                            The Company does not presently own or control, directly or indirectly, any interest in any
                                            other corporation, association, or other business entity. Except as set forth on Annex 2
                                            of the Disclosure Schedule, the Company is not a participant in any joint venture, partnership,
                                            or similar arrangement.

 

	1.10	The
                                            Company’s Financial Statements; Books and Records.

 

		1.10.1	The
                                            audited balance sheets of the Company as of December 31, 2021 together with the related notes
                                            and schedules (such balance sheets, the related statements of operations, of stockholder’s
                                            equity and of cash flows and the related notes and schedules are referred to herein as the
                                            “Year-end Financial Statements”); and

 

		1.10.2	The
                                            unaudited balance sheet of the Company as of March 31, 2022 (the “Balance Sheet
                                            Date”) and the related statements of operations and of stockholder’s equity
                                            as of the Balance Sheet Date (such balance sheets, the related statements of operations,
                                            and of stockholder’s equity are referred to herein as the “Interim Financial
                                            Statements”) and certified by the Company’s chief financial officer. The
                                            Interim Financial Statements shall be updated to a date no earlier than one month before
                                            the Closing Date. The Year-end Financial Statements and the Interim Financial Statements
                                            (collectively, the “Financial Statements”) are attached as Section
                                            1.10.2 to the Disclosure Schedule.

 

		1.10.3	The
                                            Financial Statements: (i) are true, correct and complete in all material respects and have
                                            been prepared in conformity with (A) the books and records of the Company, which, in turn,
                                            are true, correct and complete, and (B) IFRS or local accounting rules consistently applied
                                            throughout the periods covered thereby (except as may be indicated in the notes to the Company’s
                                            Financial Statement); (ii) accurately presents the financial position of the Company as of
                                            such dates and the results of operations, changes in members’ equity and cash flow
                                            of the Company for the periods then ended, subject in the case of unaudited financial statements
                                            to (y) normal recurring year-end audit adjustments, none of which would individually or in
                                            the aggregate be material, and (z) the absence of footnote disclosures, none of which would,
                                            alone or in the aggregate, be materially adverse to the business, operations, assets, liabilities,
                                            financial condition, operating results, value, cash flow or net worth of the Company; and
                                            (iii) contains and reflects adequate reserves, in accordance with IFRS or local accounting
                                            rules, for all reasonably anticipated losses, costs and expenses. No financial statement
                                            of any Person (other than the Company) is required by IFRS or local accounting rules to be
                                            included in the Company’s Financial Statements.

 

		1.10.4	The
                                            Financial Statements were prepared from the books, records and accounts of the Company, which
                                            books, records and accounts are accurate and have been maintained in accordance with all
                                            applicable Laws and (i) reflect all items of income and expense and all assets and liabilities
                                            required to be reflected in the Company’s Financial Statements in accordance with IFRS
                                            or local accounting rules, and (ii) are true, correct and complete in all material respects.

 

	1.11	No
                                            Undisclosed Liabilities; Indebtedness.

 

		1.11.1	As
                                            at the date of this Agreement and the Financial Cut-off Date, the Company has no obligations
                                            or liabilities (whether or not absolute, accrued, contingent, determined, determinable, unliquidated
                                            or otherwise, whether known or unknown, whether due or to become due, whether or not required
                                            to be reflected in financial statements in accordance with IFRS or local accounting rules
                                            and regardless of when or by whom asserted), and there is no existing condition, situation
                                            or set of circumstances that could reasonably be expected to result in such an obligation
                                            or liability, except for: (i) liabilities that are fully reflected or provided for in the
                                            Company’s Financial Statements; and (ii) liabilities incurred in the ordinary course
                                            of business consistent with past practice since the date of the Balance Sheet Date and of
                                            a type reflected or provided for in the Year-end Financial Statements (none of which is a
                                            liability for breach of contract, breach of warranty, tort, infringement, violation of law,
                                            claim or lawsuit), which in the aggregate are not in excess of $10,000 and will not be overdue
                                            as of immediately prior to the Financial Cut-off Date.

 

    	- 21 -

     

    

 

		1.11.2	Section
                                            1.11.2 of Annex 2 to the Disclosure Schedule sets forth a true, correct and complete
                                            list of all loan or credit agreements, notes, bonds, mortgages, indentures and other agreements
                                            and instruments pursuant to which any Indebtedness whereby an amount, individually or in
                                            the aggregate, in excess of $10,000 is outstanding or may be incurred on or prior to the
                                            date of this Agreement.

 

	1.12	No
                                            Material Adverse Effect. Since January 1, 2021, the Company has conducted its business
                                            only in the ordinary course of business consistent with past practice and, since such date,
                                            there has not been (a) any event, occurrence, development or state of circumstances or facts
                                            that has had, or could reasonably be expected to result in, Material Adverse Effect, or (b)
                                            any event, occurrence, development or state of circumstances or facts that has, or could
                                            reasonably be expected to have, the effect of preventing, delaying, making illegal or otherwise
                                            interfering with the transactions contemplated by this Agreement.

 

	1.13	Absence
                                            of Certain Changes or Events. Since January 1, 2022, the Company has not:

 

		1.13.1	issued
                                            (i) any notes, bonds or other debt securities, (ii) any capital stock or other equity securities
                                            or any securities or rights convertible into or exchangeable or exercisable for any capital
                                            stock or other equity securities (except for the Company’s common stock or shares issued
                                            upon the exercise of Options or Warrants), or (iii) any Rights (except for the Company’s
                                            Options or Warrants);

 

		1.13.2	amended
                                            or waived any of its rights under, or permitted the acceleration of vesting under, (i) any
                                            provision of the Company’s stock option plan; (ii) any provision of any agreement evidencing
                                            any outstanding Option; (iii) any provision of Warrant; or (iv) any restricted stock purchase
                                            agreement;

 

		1.13.3	borrowed
                                            any amount or incurred or become subject to any liabilities, except current liabilities incurred
                                            in the ordinary course of business consistent with past practice, which individually or in
                                            the aggregate are not in excess of $10,000 and which will be satisfied and discharged by
                                            the Company as of immediately prior to the Closing;

 

		1.13.4	discharged
                                            or satisfied any Lien or paid any obligation or liability, other than current liabilities
                                            paid in the ordinary course of business consistent with past practice;

 

		1.13.5	declared,
                                            accrued, set aside or made any payment or distribution of cash or other property to any of
                                            its equity holders or its other Affiliates with respect to such equity holders’ equity
                                            securities or otherwise, or purchased, redeemed or otherwise acquired any shares of its capital
                                            stock or other equity securities (including any warrants, options or other rights to acquire
                                            its capital stock or other equity);

 

		1.13.6	mortgaged
                                            or pledged any of its properties or assets or subjected them to any Lien, except for Permitted
                                            Liens;

 

		1.13.7	(i)
                                            acquired, leased or licensed any right or other asset from any Person; (ii) sold, assigned,
                                            transferred, leased or licensed to any Person, or otherwise encumbered, any of its assets,
                                            except in each case, in the ordinary course of business consistent with past practice; or
                                            (iii) cancelled any debts or claims;

 

		1.13.8	sold,
                                            assigned, transferred, leased, licensed or otherwise encumbered any Intellectual Property
                                            Rights, disclosed any Confidential Information to any Person (other than to the Buyer and
                                            its Affiliates and other than disclosures made in the ordinary course of business consistent
                                            with past practice in circumstances in which it has imposed reasonable confidentiality restrictions),
                                            or abandoned or permitted to lapse any Intellectual Property Rights;

 

    	- 22 -

     

    

 

		1.13.9	(i)
                                            granted any severance or termination pay to (or amended any existing arrangement with) any
                                            current or former director, officer or employee whose annual compensation is over $125,000;
                                            (ii) increased, or accelerated the payment of, the compensation or benefits payable under
                                            any existing severance or termination pay policies or employment agreements; (iii) entered
                                            into any employment, deferred compensation or other similar agreement (or any amendment to
                                            any such existing agreement) with any director, officer or employee whose annual compensation
                                            is over $125,000; (iv) established, adopted or amended (except as required by applicable
                                            Laws) any Employee Plan or any collective bargaining, works council, stock option, restricted
                                            stock, bonus, insurance, severance, deferred compensation, pension, retirement, profit sharing,
                                            or any other benefit plan, agreement or arrangement covering any employees, officers, consultants
                                            or directors of the Company; or (v) increased, or accelerated the payment of, the compensation,
                                            bonus or other benefits payable to any employees, officers, consultants or directors of the
                                            Company other than in the case of this clause (v) in accordance with the Company’s
                                            ordinary course of business and consistent with past practice;

 

		1.13.10	suffered
                                            any extraordinary losses or waived any rights of value (whether or not in the ordinary course
                                            of business or consistent with past practice) in excess of $10,000 individually or in the
                                            aggregate;

 

		1.13.11	made
capital expenditures or commitments therefor that exceed $10,000 individually or $25,000 in the aggregate;

 

		1.13.12	delayed
                                            or postponed the payment of any accounts payable or commissions or any other liability or
                                            obligation or agreed or negotiated with any party to extend the payment date of any accounts
                                            payable or commissions or any other material liability or obligation or accelerated the collection
                                            of (or discounted) any accounts or notes receivable outside the ordinary course of business
                                            consistent with past practice in amounts that do not exceed $5,000 individually or in the
                                            aggregate;

 

		1.13.13	made
                                            any loans or advances to, guaranties for the benefit of, or any investments in, any Person
                                            (other than advances to the employees of the Company in the ordinary course of business consistent
                                            with past practice);

 

		1.13.14	suffered
                                            any damage, destruction or casualty loss exceeding in the aggregate $10,000, whether or not
                                            covered by insurance;

 

		1.13.15	made
                                            or changed any Tax election, changed any annual tax accounting period, changed or adopted
                                            any method of tax accounting, filed any amended Tax Returns or claims for Tax refunds, entered
                                            into any closing agreement, settled any Tax claim, audit or assessment, consented to any
                                            extension or waiver of the limitation period applicable to any claim or assessment of Taxes,
                                            or surrendered any right to claim a Tax refund, offset or other reduction;

 

		1.13.16	threatened,
                                            commenced or settled any Legal Proceeding;

 

		1.13.17	made
                                            any investment in or taken any steps to incorporate or form any subsidiary or to acquire
                                            any equity interest or other interest in any other Entity;

 

		1.13.18	amended
                                            any of its Constituent Documents or effected or been a party to any acquisition transaction,
                                            recapitalization, reclassification of shares, stock split, reverse stock split or similar
                                            transaction;

 

		1.13.19	entered
                                            into any agreement or arrangement prohibiting or restricting it from freely engaging in any
                                            business, from competing with any Person in any line of business that is material to the
                                            Company or otherwise restricting the conduct of its business anywhere in the world;

 

    	- 23 -

     

    

 

		1.13.20	entered
                                            into, amended or terminated any material Contract other than in the ordinary course of business
                                            consistent with past practice;

 

		1.13.21	received
                                            notice, whether written or oral, from any party to a Material Contract (as defined below)
                                            of such party’s intention not to renew, not to extend, to cancel or otherwise terminate
                                            or materially modify its business relationship with the Company;

 

		1.13.22	entered
                                            into any transaction with any of its Affiliates, which exceeded $10,000 individually or $25,000
                                            in the aggregate;

 

		1.13.23	entered
                                            into any other material transaction (other than the entry into this Agreement and transactions
                                            contemplated by this Agreement), except in the ordinary course of business consistent with
                                            past practice, or materially changed any business practice; or

 

		1.13.24	agreed,
                                            whether orally or in writing, to do any of the foregoing.

 

	1.14	Taxes.

 

		1.14.1	All
                                            Tax Returns required to have been filed by or on behalf of, or with respect to the assets
                                            of, the Company through the date of this Agreement have been timely filed in accordance with
                                            all applicable Laws (pursuant to an extension of time or otherwise) and are true, correct
                                            and complete in all material respects. The Company has provided to the Buyer true, correct
                                            and complete copies of all Tax Returns.

 

		1.14.2	Section
                                            1.14.2 of Annex 2 to the Disclosure Schedule sets forth a true, correct and complete
                                            list of all jurisdictions (whether foreign or domestic) in which the Company is required
                                            to file Tax Returns. No claim has ever been made by a Governmental Body in a jurisdiction
                                            where the Company does not file Tax Returns that it is or may be subject to taxation or to
                                            a requirement to file Tax Returns in that jurisdiction.

 

		1.14.3	All
                                            Taxes, estimated Taxes, deposits and other payments due and owing by or on behalf of the
                                            Company (whether or not shown on any Tax Return) have been or will be timely paid in full
                                            through the date of this Agreement.

 

		1.14.4	The
                                            Company has accrued on the Company’s Financial Statements in accordance with IFRS or
                                            local accounting rules all liabilities for unpaid Taxes through the date of this Agreement.

 

		1.14.5	The
                                            amounts so paid, together with all amounts accrued as liabilities for Taxes (including Taxes
                                            accrued as currently payable but excluding any accrual to reflect timing differences between
                                            book and Tax income) on the books of the Company, shall be adequate based on the tax rates
                                            and applicable Laws in effect to satisfy all liabilities for Taxes of the Company in any
                                            jurisdiction through the Closing Date, including Taxes accruable upon income earned through
                                            the Closing Date.

 

		1.14.6	The
                                            Company has withheld all amounts of Taxes required to be withheld from its employees, agents,
                                            contractors, creditors, stockholders, members or other equity holders and third parties and
                                            timely remitted such amounts to the proper Governmental Body and filed all federal, state,
                                            local and foreign Tax Returns and reports with respect to employee income Tax withholding,
                                            social security, unemployment, and other similar Taxes, all in material compliance with the
                                            withholding provisions of the Tax code applicable to the Company (the “Code”),
                                            or any prior provision of the Code and other applicable Laws.

 

		1.14.7	The
                                            Company has collected all material sales, value-added and use Taxes required to be collected,
                                            and have remitted, or will remit on a timely basis, such amounts to the appropriate Governmental
                                            Body (or have been furnished properly completed exemption certificates and have maintained
                                            all such records and supporting documents in the manner required by all applicable sales
                                            and use Tax statutes and regulations).

 

    	- 24 -

     

    

 

		1.14.8	No
                                            claims have been asserted and no proposals or deficiencies for any Taxes of the Company are
                                            being asserted, proposed or threatened, and no Legal Proceeding, audit, examination or investigation
                                            of any Tax Return of the Company is currently underway, pending or threatened. There have
                                            been no examinations or audits of any Tax Return of the Company. The Vendor or the Company
                                            has provided to the Buyer true, correct and complete copies of all audit reports, correspondence
                                            with Tax authorities and similar documents (to which the Company has access) relating to
                                            the Tax Returns of the Company.

 

		1.14.9	All
                                            Tax deficiencies asserted by a Governmental Body against the Company have been paid in full,
                                            accrued on the books of the Company or finally settled, and no indication of a Tax increase
                                            or other issue has been raised in any such examination that, by application of the same or
                                            similar principles, could reasonably be expected to result in a proposed Tax deficiency for
                                            any other period not so examined.

 

		1.14.10	There
                                            are no outstanding waivers or agreements between any Governmental Body and the Company for
                                            the extension of time for the assessment of any Taxes or deficiency thereof, nor are there
                                            any requests for rulings, outstanding subpoenas or requests for information, notices of proposed
                                            reassessment of any property owned or leased by the Company or any other matter pending between
                                            the Company and any Governmental Body.

 

		1.14.11	There
                                            are no Liens for Taxes with respect to the Company or the assets or properties of the Company,
                                            nor is there any Lien that is pending or threatened.

 

		1.14.12	The
                                            Company does not have liability for the Taxes of any Person (other than for itself) under
                                            Treasury Regulation Section 1.1502-6 (or any similar provision of national, provincial, territorial,
                                            state, local or foreign Law), as a transferee or successor, by Contract or otherwise.

 

		1.14.13	The
                                            Company is not a party to or bound by any Tax allocation, Tax indemnification or Tax sharing.

 

		1.14.14	The
                                            Company has not, directly or indirectly, transferred property to or acquired property from
                                            a Person with whom it was not dealing at arm’s length for consideration other than
                                            consideration equal to the fair market value of the property at the time of the disposition
                                            or acquisition thereof and has complied with all material transfer pricing rules and requirements,
                                            including any disclosure, reporting and other similar requirements under foreign Tax Law).

 

		1.14.15	The
                                            Company has not been a United States real property holding corporation within the meaning
                                            of Section 897(c)(2) of the Code during the applicable period specified in Section 897(c)(1)(A)(ii)
                                            of the Code.

 

	1.15	Real
                                            Property.

 

		1.15.1	There
                                            is no Owned Real Property.

 

		1.15.2	Section
                                            1.15.2 of Annex 2 to the Disclosure Schedule sets forth a true, complete and correct
                                            listing of all Leased Real Property (including street address, legal description (if known),
                                            lessor, rent and each of the Company’s use thereof), and a true, complete and correct
                                            list of all lease Contracts for such Leased Real Property. The Vendor or the Company have
                                            made available to Buyer true and complete copies of each such lease Contract, as amended
                                            through the date hereof. With respect to each such lease Contract:

 

		1.15.2.1	The
                                            Company has a valid leasehold interest to the leasehold estate in the Leased Real Property
                                            granted to the Company pursuant to each such lease Contract;

 

		1.15.2.2	Each
                                            such lease Contract is, and will continue to be, legal, valid, binding, enforceable and in
                                            full force and effect against the parties thereto in accordance with its terms following
                                            the consummation of the transactions contemplated hereby;

 

    	- 25 -

     

    

 

		1.15.2.3	No
                                            event has occurred or circumstance exists which, with the delivery of notice, the passage
                                            of time or both, would constitute a material breach or default under such lease Contract;
                                            and

 

		1.15.2.4	The
                                            Company has not assigned, transferred, conveyed, mortgaged, deeded in trust or encumbered
                                            any interest in any Leased Real Property held pursuant to such lease Contract.

 

		1.15.3	The
                                            Company’s Real Property and all present uses and operations of the Company’s
                                            Real Property comply in all material respects with easements and disposition agreements affecting
                                            the Company’s Real Property and there are no pending or threatened condemnation, fire,
                                            health, safety, building, zoning or other land use regulatory proceedings, lawsuits or administrative
                                            actions relating to any portion of the Company’s Real Property or the current use,
                                            occupancy or value thereof, nor has the Company or the Vendor received written notice of
                                            any pending or threatened special assessment proceedings affecting any portion of the Company’s
                                            Real Property, in each case except to the extent that such actions or notice would result
                                            in a Material Adverse Effect on the Company.

 

		1.15.4	There
                                            is no fact or condition exists which could result in the termination or material reduction
                                            of the current access from the Company’s Real Property to existing roads or to water,
                                            sewer or other utility services presently serving the Company’s Real Property.

 

	1.16	Personal
                                            Property.

 

		1.16.1	All
                                            items of equipment and other tangible personal property and assets owned by or leased to
                                            the Company, to the Vendor’s knowledge: (i) are adequate for the uses to which they
                                            are being put; (ii) are structurally sound, free of defects and deficiencies and in good
                                            operating condition, maintenance and repair, subject to ordinary wear and tear; (iii) comply
                                            in all material respects with, and are being operated and otherwise used in material compliance
                                            with, all applicable Laws; (iv) were acquired and are usable in the ordinary course of business
                                            consistent with past practice; and (v) are adequate for the conduct of the business of the
                                            Company in the manner in which such business is being conducted and as proposed to be conducted
                                            by the Company as of the Closing Date.

 

	1.17	Intellectual
                                            Property.

 

		1.17.1	The
Company has no applicable filing or registration with respect to Intellectual Property. There is no application for a patent, copyright
or trademark registration or any other type of registrations filed by or on behalf of the Company.

 

		1.17.2	The
                                            Company has not filed any patent and trademark applications.

 

		1.17.3	The
                                            Company exclusively owns all right, title and interest in and to the Company’s owned
                                            Intellectual Property, free and clear of any Liens other than Permitted Liens. The Company’s
                                            Intellectual Property constitutes all Intellectual Property Rights that is used in or necessary
                                            to the conduct of the Company’s business as now conducted and as contemplated to be
                                            conducted by the Company as of the Closing Date, free and clear of any Liens other than Permitted
                                            Liens.

 

		1.17.4	The
                                            Company has taken all commercially reasonable steps necessary to maintain and protect the
                                            proprietary nature of each item of its Intellectual Property, and to maintain in confidence
                                            all trade secrets and Confidential Information comprising a part thereof. No complaint relating
                                            to an improper use or disclosure of, or a breach in the security of, any such information
                                            has been made or threatened against the Company. There has been no: (i) unauthorized disclosure
                                            of any third-party proprietary information or Confidential Information in the possession,
                                            custody or control of the Company; or (ii) breach of the Company’s security procedures
                                            wherein Confidential Information has been disclosed to a third Person.

 

    	- 26 -

     

    

 

		1.17.5	No
                                            Person (including any current or former employee or consultant of the Company) has infringed,
                                            violated or misappropriated, or is infringing, violating or misappropriating, any of the
                                            Company’s Intellectual Property and there are no facts or circumstances that could
                                            reasonably be expected to result in any of the foregoing or of any current or anticipated
                                            claims against a third Person relating to the foregoing.

 

		1.17.6	There
                                            is no license, covenant or other agreement pursuant to which the Company has (x) assigned
                                            or transferred to any Person, or (y) licensed or otherwise granted any right to any Person,
                                            or covenanted not to assert any right, in each such instance of (x) or (y), with respect
                                            to the Company’s Intellectual Property. The Company has not agreed to indemnify any
                                            Person against any infringement, violation or misappropriation of any Intellectual Property
                                            Rights with respect to any third-party Intellectual Property Rights. The Company is not a
                                            member of or party to any patent pool, industry standards body, trade association or other
                                            organization pursuant to the rules of which it is obligated to license any existing or future
                                            Intellectual Property Rights to any Person, and the Company’s owned Intellectual Property
                                            was not developed in whole or in part using any governmental funding or using any funding,
                                            facilities, or resources of any university or research institution.

 

		1.17.7	Section
                                            1.17.7 of Annex 2 to the Disclosure Schedule sets forth each Licensed Intellectual Property
                                            and the license or agreement pursuant to which the Company exploits it (excluding currently-available,
                                            off the shelf software programs that are licensed by the Company pursuant to “shrink
                                            wrap” licenses, the total fees associated with which are less than $10,000), and there
                                            is no agreement, assignment or other instrument pursuant to which the Company has obtained
                                            any joint or sole ownership interest in or to each item of the Company’s owned Intellectual
                                            Property.

 

		1.17.8	The
                                            Company is not subject to any proceeding or outstanding decree, order, judgment, agreement
                                            or stipulation (i) restricting in any manner the use, transfer or licensing by the Company
                                            of any of the Company’s Intellectual Property; or (ii) that may affect the validity,
                                            use or enforceability of the Company’s Intellectual Property or any product, product
                                            candidate or service of the Company related thereto.

 

		1.17.9	The
                                            Company may continue to operate its business immediately after the Closing in the same manner
                                            as operated immediately prior to the Closing and after giving effect to the consummation
                                            of the transactions contemplated by this Agreement and will not result in the breach of,
                                            or create on behalf of any third-party the right to terminate or modify, (i) any license,
                                            sublicense or other agreement relating to any Intellectual Property; or (ii) any license,
                                            sublicense and other agreement to which the Company is a party and pursuant to which the
                                            Company is authorized to use any third-party Intellectual Property Rights that are useful
                                            to the business of each of the Company, as it is currently conducted and as it is contemplated
                                            to be conducted by the Company as of the Closing Date.

 

		1.17.10	To
                                            the best of the Vendor’s knowledge: no current or former director, officer, employee,
                                            independent contractor, or consultant of the Company (i) is in violation of any provision
                                            or covenant of any employment agreement, invention assignment agreement, nondisclosure agreement,
                                            non-competition agreement or any other Contract with any other Person by virtue of such director’s,
                                            officer’s, employee’s, independent contractor’s, or consultant’s
                                            being employed by, performing services for or serving on the board of directors of the Company;
                                            (ii) is using or has used any trade secrets or Confidential Information of any third Person
                                            in connection with performing any services for the Company or the development or creation
                                            of the Company’s Intellectual Property without the permission of the Company and such
                                            third Person; or (iii) has developed or created any Company Intellectual Property that is
                                            subject to any agreement under which such director, officer, employee, independent contractor,
                                            or consultant has assigned or otherwise granted any third party any rights in or to such
                                            Intellectual Property. No director, agent, employee, independent contractor, or consultant
                                            of the Company is a party to, or is otherwise bound by, any Contract, including any confidentiality,
                                            non- competition or proprietary rights agreement, with any other Person that in any way adversely
                                            affects or will affect his or her ability to assign to the Company’s rights to any
                                            invention, improvement, discovery or information relating to the Company’s Intellectual
                                            Property or affecting the Company’s ability to exploit any of the Company’s Intellectual
                                            Property.

 

    	- 27 -

     

    

 

	1.18	Agreements.

 

		1.18.1	Except
                                            as set forth in Annex 2 of the Disclosure Schedule, the Company is not a party to any Contract,
                                            agreement or commitment that (i) would require payment by or to the Company in an amount
                                            equal to or in excess of USD $25,000 individually or, in the aggregate, equal to or in excess
                                            of USD $100,000 or (ii) the performance of which could reasonably be expected to have a Material
                                            Adverse Effect.

 

	1.19	Litigation.

 

		1.19.1	There
                                            are no Legal Proceedings pending or threatened (i) against or affecting the Company or any
                                            of the assets owned, used or controlled by the Company or any Person whose liability the
                                            Company has or may have retained or assumed, either contractually or by operation of law
                                            (or pending or threatened against or affecting any of the stockholders or the officers, directors,
                                            managers or employees of the Company with respect to its business or proposed business activities),
                                            or pending or threatened by the Company against any Person, at law or in equity, or before
                                            or by any Governmental Body (including any Legal Proceedings with respect to the transactions
                                            contemplated by this Agreement), or (ii) that relate to the ownership of any capital stock
                                            of the Company, or any option or other right to the capital stock of the Company, or any
                                            right to receive consideration as a result of this Agreement.

 

		1.19.2	The
                                            Company is not subject to any Legal Proceedings under collective bargaining agreements or
                                            otherwise or any governmental investigations or inquiries.

 

		1.19.3	The
                                            Company is not subject to any judgment, order or decree of any court or other Governmental
                                            Body, and the Company has not received any notice from legal counsel to the effect that it
                                            is exposed, from a legal standpoint, to any material liabilities. There are no actions, suits,
                                            proceedings (including any arbitration proceedings), orders, investigations or claims pending
                                            or threatened against or affecting any stockholder in which it is sought to restrain or prohibit
                                            or to obtain damages or other relief in connection with the transactions contemplated by
                                            this Agreement.

 

	1.20	Environmental
                                            Matters.

 

		1.20.1	The
                                            Company is, and has for the past three years has been, in material compliance with all applicable
                                            Environmental Laws, which compliance includes the possession by the Company of all Governmental
                                            Authorizations required under applicable Environmental Laws (if any), and compliance with
                                            the terms and conditions thereof.

 

		1.20.2	The
                                            Company has not received any notice or other communication (in writing or otherwise), whether
                                            from a Governmental Body, citizens group, employee or otherwise, that alleges that the Company
                                            is not in compliance with, or has liability under, any Environmental Law and there are no
                                            circumstances that could reasonably be expected to prevent or interfere with the Company’s
                                            compliance with, or give rise to liability under, any Environmental Law in the future.

 

		1.20.3	The
                                            Company has not at any time been subject to any administrative or judicial proceeding pursuant
                                            to, or paid any fines or penalties pursuant to, applicable Environmental Laws. The Company
                                            has not entered into or agreed to enter into, or has any present intent to enter into, any
                                            consent decree or order, and the Company is not subject to any judgment, decree or judicial
                                            or administrative order relating to compliance with, or the cleanup of Materials of Environmental
                                            Concern under, any applicable Environmental Law.

 

    	- 28 -

     

    

 

		1.20.4	There
                                            has been no release of Materials of Environmental Concern at any plant, facility, site, area
                                            or property at which the Company currently operates or previously operated.

 

		1.20.5	No
                                            current or prior owner of any property leased or controlled by the Company has received any
                                            notice or other communication (in writing or otherwise), whether from a Governmental Body,
                                            citizens group, employee (current or former) or otherwise, that alleges that such current
                                            or prior owner or the Company is not in compliance with, or has liability under, any Environmental
                                            Law.

 

		1.20.6	No
                                            improvement or equipment included in the property or assets of the Company contains any asbestos,
                                            polychlorinated biphenyls, underground storage tanks, open or closed pits, sumps or other
                                            containers on or under any property or asset.

 

		1.20.7	The
                                            Company has not imported, received, manufactured, produced, processed, labeled or shipped,
                                            stored, used, operated, transported, treated or disposed of any Materials of Environmental
                                            Concern other than in compliance with all Environmental Laws.

 

		1.20.8	The
                                            Company has provided to the Buyer true, correct and complete copies of all environmental
                                            reports, investigations and/or audits (if any) relating to facilities at which the Company
                                            currently operates or previously operated (whether conducted by or on behalf of the Company
                                            or a third party) of which the Company has possession or control.

 

	1.21	Employee
                                            Matters.

 

		1.21.1	There
                                            are not any employees, consultants and independent contractors used by the Company as
                                            of the date of this Agreement whose annual compensation (excluding any fluctuating bonus)
                                            exceeds US$125,000.

 

		1.21.2	Each
                                            prior employee has, at all times, properly been classified and treated as an employee for
                                            all purposes including, but not limited to, the Employee Plans and Tax purposes. Each prior
                                            employee has at all times properly been classified as subject to or exempt from overtime
                                            requirements (if there is any such classification system in the applicable jurisdiction).
                                            The Company has never had any temporary or leased employees that were not treated and accounted
                                            for in all material respects as employees of the Company.

 

		1.21.3	The
                                            Company is, and has at all times been, in material compliance with all applicable Laws and
                                            in particular, all Labor Laws applicable to its employees. The Company is not subject to
                                            or liable for any arrears of wages, penalties, fines, orders to pay, assessments, charges,
                                            damages or taxes for failure to comply with the Labor Laws and the Company is in material
                                            compliance with all Laws (including all Labor Laws) and contracts relating to employment,
                                            employment practices, wages, hours, equal opportunity, affirmative action, harassment, occupational
                                            health and safety, disability, workers compensation, unemployment, insurance, benefits, taxes,
                                            bonuses and terms and conditions of employment.

 

		1.21.4	There
                                            are no claims pending, or threatened or capable of arising, against the Company, by an employee
                                            or workman or third party, in respect of any accident or injury, which are not fully covered
                                            by insurance or under applicable workers compensation legislation. No levies, assessments
                                            or penalties have been made against the Company pursuant to Applicable Benefit Laws (other
                                            than any levies that are payable by all employers under applicable Law).

 

		1.21.5	No
                                            notice has been received by the Company of any employment related claims commenced by any
                                            employee against the Company, including claims that the Company has violated Labor Laws or
                                            the common law with respect to an employee’s employment, and no such claims are threatened.

 

    	- 29 -

     

    

 

		1.21.6	Each
                                            Person classified as an independent contractor or other non-employee service provider of
                                            the Company has, at all times, properly been classified and treated as an independent contractor
                                            or other non-employee service provider for all purposes including, but not limited to, Tax
                                            purposes. The Company is, and has at all times been, in material compliance with all applicable
                                            Laws and contracts relating to its independent contractors and other non-employee service
                                            providers. No independent contractor, consultant or other non-employee service provider of
                                            the Company is eligible to participate in any Employee Plan. There are no claims pending
                                            or threatened against the Company by any independent contractor, other non-employee service
                                            provider or third party, in respect of any accident or injury, which are not fully covered
                                            by insurance.

 

		1.21.7	All
                                            amounts due in relation to employees (whether arising under common law, statute, equity or
                                            otherwise) have been paid, including all remuneration, expenses, social insurance, pension
                                            contributions, liability to taxation, levies and other amounts (other than amounts owing
                                            with respect to the current salary or work period which are not yet due).

 

		1.21.8	No
                                            Employee, since becoming an employee, has been, or currently is, represented by a labor organization
                                            or group that was either certified or voluntarily recognized by any labor relations board
                                            or certified or voluntarily recognized by any other Governmental Body. The Company is not
                                            and has never been a signatory to a collective bargaining agreement with any trade union,
                                            labor organization or group. No representation election petition or application for certification
                                            has been filed by employees is pending with any Governmental Body and no union organizing
                                            campaign or other attempt to organize or establish a labor union, employee organization or
                                            labor organization or group involving employees has occurred, is in progress or is threatened.
                                            No labor strike, work stoppage, slowdown, picketing, lockout or other material labor dispute
                                            has occurred, and none is underway or threatened.

 

		1.21.9	No
                                            wrongful discharge, retaliation, libel, slander or other claim, complaint, charge or investigation
                                            that arises out of the employment relationship between the Company and any of its Employees
                                            has been filed or is pending or threatened against the Company under any applicable Law.

 

	1.22	Employee
                                            Benefit Plans. The Company has not had an Employee Plan.

 

	1.23	Compliance
                                            with Laws; Governmental Authorizations.

 

		1.23.1	The
                                            Company is, and has at all times been, in compliance materially with all applicable Laws,
                                            except where non-compliance could not reasonably be expected to result in Material Adverse
                                            Effect. The Company has not received any notice or other communication from any Governmental
                                            Body or any other Person regarding (i) any actual, alleged, possible or potential material
                                            violation of, or failure to materially comply with, any Law; or (ii) any actual, alleged,
                                            possible or potential obligation on the part of the Company to undertake, or to bear all
                                            or any portion of the cost of, any cleanup or any remedial, corrective or response action
                                            of any nature under any applicable Law. The Company has provided to the Buyer a true, correct
                                            and complete copy of each report, study, survey or other document to which the Company has
                                            access that addresses or otherwise relates to the compliance of the Company with, or the
                                            applicability to the Company of, any Laws. To the knowledge of the Vendor, no Governmental
                                            Body has proposed or is considering any Law that, if adopted or otherwise put into effect,
                                            (A) may have an adverse effect on the business, condition, assets, liabilities, operations,
                                            financial performance, net income or prospects of the Company or on the ability of the Company
                                            to comply with or perform any covenant or obligation under any of ancillary documents contemplated
                                            by this Agreement; or (B) may have the effect of preventing, delaying, making illegal or
                                            otherwise interfering with the transactions contemplated by this Agreement.

 

    	- 30 -

     

    

 

		1.23.2	The
                                            Company does not require any Governmental Authorizations to operate its business beyond what
                                            Governmental Authorizations it currently holds, which have all been listed on Section
                                            1.23.2 of the Disclosure Schedule. The Governmental Authorizations held by the Company
                                            are valid and in full force and effect, and collectively constitute all Governmental Authorizations
                                            necessary (i) to enable the Company to conduct its business in the manner in which its business
                                            is currently being conducted and as contemplated to be conducted by the Company as of the
                                            Closing Date; and (ii) to permit the Company to own and use its assets in the manner in which
                                            it is currently owned and used. The Company is, and at all times since its incorporation
                                            has been, in material compliance with the terms and requirements of the Governmental Authorizations
                                            held by the Company. The Company has not received any notice or other communication from
                                            any Governmental Body regarding (A) any actual or possible violation of or failure to comply
                                            with any term or requirement of any Governmental Authorization; or (B) any actual or possible
                                            revocation, withdrawal, suspension, cancellation, termination or modification of any Governmental
                                            Authorization. All of the Governmental Authorizations set forth or required to be set forth
                                            on Section 1.23.2 of the Disclosure Schedule will be available for use by the Company
                                            immediately after the Closing. In respect of approvals, licenses or permits requisite for
                                            the conduct of any part of the business of the Company which are subject to periodic renewal,
                                            the Company has no reason to believe that such renewals will not be timely granted by the
                                            relevant Governmental Body.

 

		1.23.3	(i)
                                            The Company has at all times been, in full compliance with all of the terms and requirements
                                            of each Governmental Authorization set forth or required to be set forth on Section 1.23.2
                                            of the Disclosure Schedule; (ii) no event has occurred, and no condition or circumstance
                                            exists, that might (with or without notice or lapse of time or both) reasonably (A) constitute
                                            or result directly or indirectly in a violation of or a failure to comply with any term or
                                            requirement of any Governmental Authorization set forth or required to be set forth on Section
                                            1.23.2 of the Disclosure Schedule; or (B) result directly or indirectly in the revocation,
                                            withdrawal, suspension, cancellation, termination or modification of any Governmental Authorization
                                            set forth or required to be set forth on Section 1.23.2 of the Disclosure Schedule;
                                            (iii) the Company has not received, and no employee has ever received, any notice or other
                                            communication from any Governmental Body or any other Person regarding (x) any actual, alleged,
                                            possible or potential violation of or failure to comply with any term or requirement of any
                                            Governmental Authorization; or (y) any actual, proposed, possible or potential revocation,
                                            withdrawal, suspension, cancellation, termination or modification of any Governmental Authorization;
                                            and (iv) all applications required to have been filed for the renewal of the Governmental
                                            Authorizations required to be set forth on Section 1.23.2 of the Disclosure Schedule
                                            have been duly filed on a timely basis with the appropriate Governmental Bodies, and each
                                            other notice or filing required to have been given or made with respect to such Governmental
                                            Authorizations has been duly given or made on a timely basis with the appropriate Governmental
                                            Body.

 

	1.24	Insurance.
                                            The Company has maintained all insurance policies that are required under applicable Law.
                                            The Company has provided to the Buyer true, correct and complete copies of the insurance
                                            policies set forth on Section 1.24 of the Disclosure Schedule. The Company has not
                                            reached or exceeded its policy limits for any such insurance policy in effect at any time
                                            during the past three (3) years. During the past three (3) years, the Company has not received
                                            any notice or other communication regarding any actual or possible (a) cancellation or invalidation
                                            of any such insurance policy; (b) refusal of any coverage or rejection of any claim under
                                            any such insurance policy; or (c) material adjustment in the amount of the premiums payable
                                            with respect to any such insurance policy. All premiums required to be paid with respect
                                            thereto covering all periods up to and including the Closing Date have been or will be paid
                                            in a timely fashion and there has been no lapse in coverage under such policies or failure
                                            of payment that will cause coverage to lapse during any period for which the Company has
                                            conducted its operations. The Company has not had any obligation for retrospective premiums
                                            for any period prior to the Closing Date. All such policies are in full force and effect
                                            and will remain in full force and effect up to and including the Closing Date, unless replaced
                                            with comparable insurance policies having comparable or more favorable terms and conditions.
                                            No insurer has provided the Company with notice that coverage will be denied with respect
                                            to any claim submitted to such insurer by the Company. Section 1.24 of the Disclosure
                                            Schedule sets forth all claims by the Company pending under any of such policies or bonds
                                            as to which coverage has been questioned, denied or disputed by the underwriters of such
                                            policies or bonds or in respect of which such underwriters have reserved their rights.

 

    	- 31 -

     

    

 

	1.25	Title
                                            to and Sufficiency of Assets.

 

		1.25.1	The
                                            Company owns, and has good, valid, transferable and marketable title to, or a valid leasehold
                                            interest in (i) all properties and assets used by it, located on its premises, shown on the
                                            Year-end Financial Statements or acquired after the date thereof, free and clear of all Liens
                                            (other than properties and assets disposed of in the ordinary course of business consistent
                                            with past practice since the date of the Year-end Financial Statements); (ii) all of its
                                            rights under the Material Contracts; and (iii) all other material assets used by the Company
                                            or reflected in the books and records of the Company as being owned by the Company.

 

		1.25.2	All
                                            facilities, machinery, equipment, fixtures, vehicles and other properties owned, leased or
                                            used by the Company are maintained in a way consistent with the Company’s past practice.
                                            The Company is in compliance with all material terms of each lease to which it is a party
                                            or is otherwise bound. The Company owns, has a valid leasehold interest in or has the valid
                                            and enforceable right to use all assets, tangible or intangible, necessary for the conduct
                                            of its business as currently conducted and as proposed to be conducted by the Company as
                                            of the Closing Date.

 

	1.26	Inventory.
                                            All of the inventory of the Company: (a) was acquired and is sufficient for the operation
                                            of its business in the ordinary course of business consistent with the Company’s past
                                            practice; (b) is of a quality and quantity usable or saleable in the ordinary course of business
                                            consistent the Company’s past practice; (c) is valued on the books and records of the
                                            Company at the lower of cost or market with the cost determined under the first-in-first-out
                                            inventory valuation method consistent with the Company’s past practice; and (d) is
                                            free of any material defect or deficiency. The inventory levels maintained by the Company
                                            are adequate for the conduct of the operations of the Company in the ordinary course of business
                                            and consistent with the Company’s past practice.

 

	1.27	Bank
                                            Accounts. Section 1.27 of the Disclosure Schedule sets forth true, correct and
                                            complete information with respect to each account maintained by or for the benefit of the
                                            Company at any bank or other financial institution, including the name of the bank or financial
                                            institution, the account number, the balance as of the Financial Cut-Off Date (and whether
                                            any cash comprising such balances is “restricted cash”) and the names
                                            of all individuals authorized to draw on or make withdrawals from such accounts (and no changes
                                            to such information, except for change to the balance, shall have occurred as of the Closing
                                            Date).

 

	1.28	Accounts
                                            Payable. Section 1.28 of the Disclosure Schedule sets forth a true, correct and
                                            complete breakdown and aging of the accounts payable of the Company as of the Financial Cut-Off
                                            Date, which are individually or in the aggregate in excess of $25,000. All such accounts
                                            payable were incurred in the ordinary course of business consistent with past practice, are
                                            valid payables for products or services purchased by the Company and except as set forth
                                            on the Disclosure Schedule, as at the date of this Agreement and the Financial Cut-off Date,
                                            there is no account payable that is outstanding more than 90 days past the invoice date.

 

	1.29	Related
                                            Party Transactions. Except as set forth on Section 1.29 of the Disclosure Schedule,
                                            no Related Party has, or has at any time had, any direct or indirect interest in any asset
                                            used in or otherwise relating to the business of the Company. No Related Party is, or has
                                            been, indebted to the Company. No Related Party has entered into, or has had any direct or
                                            indirect financial interest in, any Material Contract, transaction or business dealing involving
                                            the Company. No Related Party is competing, or has at any time competed, directly or indirectly,
                                            with the Company. No Related Party has any claim or right against the Company (other than
                                            claims or rights to receive compensation for services performed as an employee or as a director).

 

    	- 32 -

     

    

 

	1.30	Customers
                                            and Suppliers. Section 1.30 of the Disclosure Schedule sets forth a true, correct
                                            and complete list of the names and addresses of the Company’s top 10 suppliers (each,
                                            a “Supplier”, and together, the “Suppliers”). No Supplier
                                            (or former Supplier) during the prior 12 months has cancelled, terminated or made any threat
                                            to cancel or otherwise terminate any of such Supplier’s Contracts with the Company
                                            or to decrease such Supplier’s supply of services or products to the Company. The Company
                                            has provided to the Buyer true, correct and complete copies of all of such current Supplier
                                            Contracts, and all such Contracts are in full force and effect, have not been withdrawn,
                                            amended, modified or terminated and are enforceable by the Company. The Company has not received
                                            any notice and the Company does not have any actual or constructive knowledge to the effect
                                            that any current customer or supplier may withdraw, terminate or materially alter, amend
                                            or modify its business relations with the Company, either as a result of the transactions
                                            contemplated by this Agreement, or otherwise.

 

	1.31	Certain
                                            Payments. Neither the Company nor any manager, officer, employee, agent, consultant or
                                            other Person associated with or acting for or on behalf of the Company, has at any time,
                                            directly or indirectly: (a) used any corporate funds (i) to make any unlawful political contribution
                                            or gift or for any other unlawful purpose relating to any political activity; (ii) to make
                                            any unlawful payment to any governmental official or employee, including without limitation
                                            any payments made in violation of the FCPA or the UK Bribery Act; or (iii) to establish or
                                            maintain any unlawful or unrecorded fund or account of any nature; (b) made any false or
                                            fictitious entry, or failed to make any entry that should have been made, in any of the books
                                            of account or other records of the Company; (c) made any payoff, influence payment, bribe,
                                            rebate, kickback or unlawful payment to any Person; (d) performed any favor or given any
                                            gift which was not deductible for federal income tax purposes; (e) made any payment (whether
                                            or not lawful) to any Person, or provided (whether lawfully or unlawfully) any favor or anything
                                            of value (whether in the form of property or services, or in any other form) to any Person,
                                            for the purpose of obtaining or paying for (i) favorable treatment in securing business,
                                            or (ii) any other special concession; or (f) agreed, committed, offered or attempted to take
                                            any of the actions described in clauses (a) through (e) above.

 

	1.32	Regulatory
                                            Filings. The Company has made all required registrations and filings with and submissions
                                            to all applicable Governmental Bodies relating to the operation of the business of the Company.
                                            There is no false or misleading information or significant omission in any submission to
                                            any Governmental Body. All such registrations, filings and submissions were in compliance
                                            in all material respects with all Laws and other requirements when filed. No material deficiencies
                                            have been asserted by any such applicable Governmental Bodies with respect to such registrations,
                                            filings or submissions and no facts or circumstances exist which would indicate that a material
                                            deficiency may be asserted by any such authority with respect to any such registration, filing
                                            or submission. The Company has delivered to the Buyer copies of (a) all material reports
                                            of inspection observations; (b) all material establishment inspection reports; (c) all material
                                            warning letters; and (d) any other material documents received by the Company from any Governmental
                                            Body relating to the business of the Company that assert ongoing material lack of compliance
                                            with any laws.

 

	1.33	OFAC.
                                            Neither the Company nor Representative of the Company, or any other Person acting for or
                                            on behalf of the Company has: (a) been or is currently subject to any United States sanctions
                                            administered by the Office of Foreign Assets Control of the United States Treasury Department
                                            (“OFAC”); or (b) engaged or is currently engaging in any business or other
                                            dealings with, in, involving, or relating to (i) any country subject to a comprehensive embargo
                                            under the sanctions administered by OFAC; or (ii) any Person subject to sanctions administered
                                            by OFAC.

 

	1.34	Purchased
                                            Capital Contributions Certificate. All of the information contained in the capital contributions
                                            certificates of the Company will be complete and accurate immediately prior to the Closing.

 

    	- 33 -

     

    

 

SCHEDULE
2

 

BUYER’S
WARRANTIES

 

	(a)	The
                                            Buyer is duly incorporated or organised with limited liability and validly existing under
                                            the Laws of the jurisdiction of its incorporation or organisation, and has the full power
                                            and authority to enter into, execute and deliver this Agreement and to perform its obligations
                                            and the transactions contemplated therein.

 

	(b)	The
                                            execution and delivery by the Buyer of this Agreement and the performance by the Buyer of
                                            its obligations and the transactions contemplated hereunder has been duly authorised by all
                                            necessary corporate or other action of the Buyer.

 

	(c)	As
                                            at Closing, the Buyer has obtained all necessary governmental, regulatory and corporate authorisations
                                            as well as internal and third party approvals and consents for the performance of the obligations
                                            undertaken by the Buyer hereunder.

 

	(d)	This
                                            Agreement constitutes legal, valid and binding obligations of the Buyer enforceable in accordance
                                            with its terms, except as limited by applicable bankruptcy, insolvency, moratorium or similar
                                            federal or state laws affecting the rights of creditors, and is limited by laws relating
                                            to the availability of specific performance, injunctive relief or other equitable remedies.
                                            The execution and delivery of, and the performance of obligations under and compliance with
                                            the provisions of, this Agreement by the Buyer will not:

 

		(i)	contravene
                                            any order or judgments of any court or Governmental Body, statutory or regulatory body to
                                            which it is subject to which has the effect of making unlawful or otherwise prohibiting the
                                            transactions contemplated in this Agreement;

 

		(ii)	conflict
                                            with or be inconsistent with or result in any breach of any of the terms, covenants, conditions
                                            or provisions of, or constitute a default under, or result in the creation or imposition
                                            of (or the obligation to create or impose) any Encumbrance upon any of its respective property
                                            or assets pursuant to the terms of any agreement, contract or instrument to which it is a
                                            party or by which it or any of its property or assets is bound or to which it may be subject,
                                            respectively; or

 

		(iii)	require
                                            the consent of any person other than such as already given or waived or to be given or waived
                                            on or before Closing.

 

    	- 34 -

     

    

 

IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date written above.

 

	Vendor	 
	 	 
	SIGNED
    by	)
	for
    and on behalf of	)
	UNIQUE
    LOGISTICS HOLDINGS LIMITED	)
	 	)
	 	)
	 	)

 

    	 

     

    

 

IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date written above.

 

	Buyer	 
	 	 
	SIGNED
    by	)
	for
    and on behalf of	)
	UNIQUE
    LOGISTICS INTERNATIONAL, INC.	)
	 	)
	 	)

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