Document:

IntelGenx Technologies Corp. - Exhibit 10.1 - Filed by newsfilecorp.com

Exhibit 10.1

AGENCY AGREEMENT 

August 27, 2010 

IntelGenx Technologies Corp. 
6425 Abrams 
Ville St.
Laurent, Quebec 

  H4S 1X9 

Attention:        
Horst G. Zerbe, President & CEO 

Dear Sirs: 

Re:         Private
Placement of up to 6,500,000 Units of IntelGenx Technologies Corp. 

We, Bolder Investment Partners, Ltd. (the “Agent”),
understand that IntelGenx Technologies Corp. (the “Issuer”) proposes to
sell up to 6,500,000 units (as hereinafter defined) at a price of $0.40 per
Unit, and that the Issuer wishes to appoint the Agent as its sole and exclusive
agent to distribute the Units to purchasers (the “Purchasers”) who are
qualified to purchase such Units pursuant to the Exemptions (as defined below).
The Agent is willing to accept such appointment, pursuant to the terms and
conditions set forth below. 

Each Unit is comprised of one Share (as hereinafter defined)
and one non-transferable Share purchase warrant. Each Warrant (as hereinafter
defined) will entitle the holder to purchase one additional Warrant Share (as
hereinafter defined) of the Issuer for a period of 36 months from the date of
issuance of the Warrants, subject to early expiration, at a price of $0.50 per
Warrant Share. 

1.              
DEFINITIONS 

1.1             In
this Agreement: 

	 	(a) 	
      “Acts” means the securities legislation of the
      Offering Jurisdictions and the regulations, rules, administrative policy
      statements, instruments, blanket orders, notices, directions and rulings
      issued or adopted by the applicable Commissions, all as amended;

	 	 	 
	 	(b) 	
      “Agent” has the meaning set forth in the preamble
      hereto;

	 	 	 
	 	(c) 	
      “Agent’s Commission” means the commission which is
      set out in this Agreement and which is payable by the Issuer to the Agent
      in consideration for the services performed by the Agent under this
      Agreement;

	 	 	 
	 	(d) 	
      “Agent’s Shares” means the Common Shares issuable
      on exercise of the Compensation Options;

- 2- 

	 	(e) 	
      “Business Day” means any day except Saturday,
      Sunday or a statutory holiday in Vancouver, British Columbia, or Montreal,
      Quebec;

	 	 	 
	 	(f) 	
      “Certificates” means the certificates representing
      the Shares and the Warrants sold on the Closing in the names and
      denominations reasonably requested by the Agent or the Purchasers as set
      forth in writing on the Subscription Agreements, and the certificates
      representing the Compensation Options in the names and denominations
      reasonably requested by the Agent;

	 	 	 
	 	(g) 	
      “Closing” means the closing of the purchase and
      sale of the Units;

	 	 	 
	 	(h) 	
      “Closing Date” means the date on which Closing
      occurs;

	 	 	 
	 	(i) 	
      “Commissions” means the provincial securities
      commission or other regulatory authority in each of the Offering
      Jurisdictions;

	 	 	 
	 	(j) 	
      “Common Shares” means the shares of common stock
      in the capital of the Issuer;

	 	 	 
	 	(k) 	
      “Compensation Options” means the options to
      acquire Agent’s Shares to be issued to the Agent in further consideration
      of the services performed by the Agent under this Agreement and having the
      terms described in Section 4.3;

	 	 	 
	 	(l) 	
      “Corporate Finance Fee” has the meaning ascribed
      to that term in Section 4.2;

	 	 	 
	 	(m) 	
      “Disclosure Record” means all prospectuses,
      information circulars, annual information forms, financial statements,
      management’s discussion and analysis, press releases, material change
      reports or other public documents filed by or with respect to the Issuer
      with the SEC or the applicable Commissions;

	 	 	 
	 	(n) 	
      “Domestic Issuer” means “domestic issuer” as
      defined in Rule 902(e) of Regulation S;

	 	 	 
	 	(o) 	
      “Exchange” means the TSX Venture
  Exchange;

	 	 	 
	 	(p) 	
      “Exemptions” means the exemptions from the
      prospectus requirements of the Acts which are outlined in Section 2.3 and
      2.10 of National Instrument 45-106;

	 	 	 
	 	(q) 	
      “Intellectual Property” means all proprietary
      rights provided in law and at equity to all: (i) trademarks, service
      marks, trade dresses, logos, designs and slogans whether in word, mark,
      stylized or design format, registered and unregistered, throughout the
      world; (ii) patents and patent applications (respectively issued or filed
      throughout the world), as well as any re- examinations, extensions, and
      reissues thereof and any divisionals, continuations, continuation-in-parts
      and any other applications or patents that claim priority from such
      patents and applications, (iii) copyrights, registered and unregistered,
      and all rights, claims and privileges pertaining thereto; software and
      documentation therefore, (iv) inventions (whether or not patentable),
      formulas, processes, invention disclosures, technology, technical data or
      information; (v) all rights, claims and privileges pertaining thereto, all industrial
      designs, trade secrets, know-how, concepts, information; and (vi) other
      intellectual and industrial property and other proprietary rights
      information;

- 3- 

	 	(r) 	
      “Issuer” ” has the meaning set forth in the
      preamble hereto;

	 	 	 
	 	(s) 	
      “Material Change” has the meaning defined in the
      Securities Act (Ontario);

	 	 	 
	 	(t) 	
      “Material Fact” has the meaning defined in the
      Securities Act (Ontario);

	 	 	 
	 	(u) 	
      “National Instrument 45-106” means National
      Instrument 45-106 Prospectus and Registration Exemptions adopted by
      each of the Commissions;

	 	 	 
	 	(v) 	
      “Offering Jurisdictions” means the provinces of
      British Columbia, Alberta, Ontario and Nova Scotia;

	 	 	 
	 	(w) 	
      “Private Placement” means the offering of the
      Units on the terms and conditions of this Agreement;

	 	 	 
	 	(x) 	
      “Purchasers” ” has the meaning set forth in the
      preamble hereto;

	 	 	 
	 	(y) 	
      “Registration Rights Agreement” means the
      registration rights agreement attached as Appendix V to the Subscription
      Agreements;

	 	 	 
	 	(z) 	
      “Registration Statement” means the registration
      statement that the Issuer agrees to file with the SEC pursuant to the
      Registration Rights Agreement to register the Shares, the Warrant Shares
      and the Agent’s Shares for resale pursuant to the terms of the
      Registration Rights Agreement;

	 	 	 
	 	(aa) 	
      “Regulation S” means Regulation S promulgated
      under the U.S. Securities Act;

	 	 	 
	 	(bb) 	
      “Regulatory Authorities” means the Commissions and
      the Exchange;

	 	 	 
	 	(cc) 	
      “SEC” means the United States Securities and
      Exchange Commission;

	 	 	 
	 	(dd) 	
      “SEC Report” has the meaning set out in Section
      13.1(n);

	 	 	 
	 	(ee) 	
      “Securities” means the Units, the Shares, the
      Warrants, the Warrant Shares, the Compensation Options and the Agent’s
      Shares.

	 	 	 
	 	(ff) 	
      “Shares” means the previously unissued shares of
      common stock in the authorized share structure of the Issuer, as presently
      constituted, which comprise part of the Units;

	 	 	 
	 	(gg) 	
      “Subscription Agreements” means the subscription
      agreements among the Issuer and the Purchasers in which Purchasers agree
      to purchase the Units;

	 	 	 
	 	(hh) 	
      “subsidiary” means a subsidiary (as such term is
      defined in the Securities Act (Ontario)) of the
  Issuer;

- 4- 

	 	(ii) 	
      “United States” means the United States of
      America, its territories and possessions, any state of the United States
      and the District of Columbia;

	 	 	 
	 	(jj) 	
      “Units” means the up to 6,500,000 units of the
      Issuer being offered for sale under the Private Placement, each comprised
      of one Share and one Warrant;

	 	 	 
	 	(kk) 	
      “U.S. Exchange Act” means the United States
      Exchange Act of 1934, as amended and the rules and regulations promulgated
      thereunder;

	 	 	 
	 	(ll) 	
      “U.S. Person” has the meaning ascribed to that
      term in Regulation S;

	 	 	 
	 	(mm) 	
      “U.S. Securities Act” means the United States
      Securities Act of 1933, as amended and the rules and regulations
      promulgated thereunder;

	 	 	 
	 	(nn) 	
      “Warrant Shares” means the previously unissued
      shares of common stock in the authorized share structure of the Issuer, as
      presently constituted, which will be issued upon the exercise of the
      Warrants; and

	 	 	 
	 	(oo) 	
      “Warrants” means the non-transferable Share
      purchase warrants of the Issuer, which comprise part of the Units and
      having the terms described in Section 3.

2.              
APPOINTMENT OF AGENT 

2.1             The
Issuer appoints the Agent as its exclusive agent and the Agent accepts the
appointment and agrees to act as the exclusive agent of the Issuer. The Agent
agrees to use commercially reasonable efforts to find and introduce to the
Issuer potential purchasers to purchase up to 6,500,000 Units at a price of
$0.40 per Unit, by way of private placement under the applicable Exemptions. The
Agent will offer the Units to persons who the Agent reasonably believes, after
customary inquiry, are persons that meet the criteria under the Exemptions, such
that a prospectus does not need to be filed. 

3.             
 WARRANTS 

3.1            
Each whole Warrant will entitle the holder, on exercise, to purchase one Warrant
Share at any time from the Closing Date until 4 p.m. (Toronto time) on the date
36 months following the Closing Date at a price of $0.50 per Warrant Share.

3.2             Warrants
are non-transferable and will not be listed on the Exchange or on any other
public market. 

3.3             The
terms governing the Warrants will be set out in the certificates representing
the Warrants, the form of which will be subject to the approval of the Issuer
and the Agent, acting reasonably. The certificates representing the Warrants
will include, among other things, provisions for the appropriate adjustment in
the class, number and price of the Warrant Shares issued upon exercise of the
Warrants upon the occurrence of certain events, including any subdivision,
consolidation or reclassification of the Issuer’s common shares, the payment of
stock dividends and the amalgamation of the Issuer. 

- 5- 

3.4             The
issue of the Warrants will not restrict or prevent the Issuer from obtaining any
other financing, or from issuing additional securities or rights, during the
period within which the Warrants may be exercised. 

4.             
 AGENT’S COMPENSATION 

4.1            
In consideration of the services performed by the Agent under this Agreement,
the Issuer will pay to the Agent the Agent’s Commission equal to 8.0% of the
gross proceeds received by the Issuer from the sale of the Units to Purchasers,
payable at Closing in cash. 

4.2             The
  Issuer will also pay to the Agent a corporate finance fee (the “Corporate
  Finance Fee”) of $20,000 plus HST, payable in cash at the Closing.

4.3            
Subject to section 2.1 hereof, in addition to payment of the Agent’s Commission
and the Corporate Finance Fee, the Issuer will issue to the Agent at Closing
that number of Compensation Options equal to 8.0% of the aggregate number of
Units sold to Purchasers under the Private Placement. Each Compensation Option
will entitle the holder to purchase one Agent’s Share at a price of $0.50. The
Compensation Options are exercisable in whole or in part at any time from the
Closing Date until 4 p.m. (Toronto time) on the date 24 months following the
Closing Date. 

4.4             The
terms governing the Compensation Options will be set out in the certificates
representing the Compensation Options, the form of which will be subject to the
approval of the Issuer and the Agent, acting reasonably. The certificates
representing the Compensation Options will include, among other things,
provisions for the appropriate adjustment in the class, number and price of the
Agent’s Shares issued upon exercise of the Compensation Options upon the
occurrence of certain events, including any subdivision, consolidation or
reclassification of the Issuer’s common shares, the payment of stock dividends
and the amalgamation of the Issuer. 

4.5            
The amounts paid to the Agent under this section are in addition to and not in
substitution for any other commission or remuneration payable to the Agent by
the Issuer under any other agreement or arrangement. 

4.6            
The Agent acknowledges that the Compensation Options and Agent’s Shares will be
subject to a "hold period" under Rule 144 under the U.S. Securities Act and
possibly other resale restrictions under applicable securities legislation,
including applicable Canadian securities legislation, and the policies of the
SEC and may not be resold until the expiry of such hold periods except in
accordance with limited exemptions under applicable securities legislation and
regulatory policies and that the Issuer may cause a legend to such effect to be
placed on the certificates representing the Compensation Options and the Agent’s
Shares. Except as set forth herein, the Agent acknowledges that it is aware that
until the expiry of all such hold periods and resale restrictions, (i) the
Compensation Options and Agent’s Shares cannot be traded through the facilities
of stock exchanges, including the Exchange, since the certificate is not freely
transferable and consequently is not "good delivery" in settlement of
transactions on such exchanges; and (ii) any such exchanges would deem the
selling security holder to be responsible for any loss incurred on a sale made
by it in the Compensation Options or Agent’s Shares. 

- 6- 

4.7             The
Agent acknowledges that the Compensation Options may not be exercised by or for
the account or benefit of a U.S. Person or a person in the United States,
including the Agent’s U.S. affiliates, unless the Compensation Options and the
Agent’s Shares issuable upon exercise of the Compensation Options are registered
under the U.S. Securities Act and the securities laws of all applicable states
or an exemption is available from the registration requirements of such laws.

5.              
OFFERING RESTRICTIONS 

5.1             The
Agent will only sell the Units, on behalf of the Issuer, after customary inquiry
by the Agent, to persons resident in the Offering Jurisdictions (or to persons
outside the Offering Jurisdictions in compliance with Section 5.2) who represent
themselves as being persons: 

	 	(a) 	
      purchasing as principal; and

	 	 	 
	 	(b) 	
      qualified to purchase the Units under one or more of the
      applicable Exemptions.

5.2            
The Agent covenants and agrees that if it offers to sell or does sell any Units
in jurisdictions other than the Offering Jurisdictions, such offers and sales
shall be effected in accordance and compliance with the applicable laws of such
jurisdictions and shall be effected in such manner so as not to: (i) require
registration of any of the Securities, or the filing of a prospectus or other
similar document with respect thereto; or (ii) subject the Issuer to any
additional continuous disclosure or similar reporting requirements under the
laws of any jurisdiction outside the Offering Jurisdictions. 

5.3             Notwithstanding
Section 5.2, neither the Issuer, the Agent, nor any of its affiliates, nor any
person acting on behalf of any of the foregoing, will offer or sell any of the
Securities to, or for the account or benefit of, U.S. Persons or persons in the
United States, or undertake any activity for the purpose of, or that could
reasonably be expected to have the effect of, conditioning the market for the
Securities in the United States. The Agent agrees that at the time any buy order
for Units is placed and the subscription agreement for the Units is executed and
delivered by clients of the Agent, the buyer (or its authorized signatory) will
be outside the United States, or the Agent and all persons acting on its behalf
will reasonably believe after customary inquiry that the buyer (or its
authorized signatory) is outside the United States, and neither the Agent nor
any person acting on their behalf will have knowledge that such transaction has
been pre-arranged with a buyer that is a U.S. Person or person in the United
States. The Issuer represents, warrants and covenants to and with the Agent that
the Issuer will comply with all applicable securities laws of the United States,
including the U.S. Securities Act, in connection with the Private Placement.

6.              
SUBSCRIPTIONS 

6.1            
The Agent will use its best efforts to obtain from each Purchaser introduced by
the Agent, and deliver to the Issuer, as soon as practicable but in any event
before the Closing, duly completed and signed subscriptions in the form or forms
consented to by the Issuer and executed by the Purchaser, together with all
other documents required under the Exemptions or by the Exchange. 

- 7- 

7.             
 FILINGS WITH THE REGULATORY AUTHORITIES 

7.1             The
Issuer will, in a timely manner, file all required documents, pay all required
filing fees and undertake any other actions required by the rules and policies
of the Exchange in order to obtain the acceptance of the Exchange for the
issuance of the Securities. 

7.2            
Within 10 days of the Closing, or in such shorter time period after the Closing
as required by law, the Issuer will file with the SEC and the Commissions any
report(s) required to be filed by the U.S. Securities Act, the U.S. Exchange Act
or the Acts, including under National Instrument 45-106, in connection with the
Private Placement in the required form, and will provide the Agent’s legal
counsel with copies of the report or reports. 

8.              
CLOSING 

8.1             In
this section “Proceeds” means the gross proceeds from the sale of Units
on Closing plus any advance payments for expenses or on account of the Agent’s
Commission made by the Issuer and held by the Agent at Closing, less: 

	 	(a) 	
      the Agent’s Commission;

	 	 	 
	 	(b) 	
      the reasonable expenses of the Agent, including the fees
      and disbursements of the Agent’s legal counsel, in connection with the
      Private Placement which have not been paid by the Issuer;

	 	 	 
	 	(c) 	
      the Corporate Finance Fee;

	 	 	 
	 	(d) 	
      any amount paid directly to the Issuer by Purchasers in
      connection with the Private Placement.

8.2            
The Agent acknowledges receipt of a non-refundable retainer of $10,000 paid by
the Issuer as an advance payment against the Agent’s expenses in connection with
the Private Placement. 

8.3            
Closing may occur in one or more tranches and, subject to satisfaction or waiver
by the applicable parties of the conditions set out in Section 9, the Issuer and
the Agent will cause Closing of each such tranche to take place on a date or
dates mutually agreeable to the parties. 

8.4            
The Issuer will, on Closing, issue and deliver the Certificates to the Agent
against payment of the Proceeds. 

8.5             If
the Issuer has satisfied all of its material obligations under this Agreement,
the Agent will, on Closing, pay the Proceeds to the Issuer against delivery of
the Certificates. 

8.6             The
Issuer will endorse the certificates representing any Shares, Warrants,
Compensation Options, Warrant Shares or Agent’s Shares issued upon the exercise
of the Compensation Options issued prior to the expiry of applicable hold
periods with any legends which may be required by any of the Regulatory
Authorities.

- 8- 

9.             
 CONDITIONS OF CLOSING 

9.1             The
obligations of the Agent on Closing will be conditional upon the following: 

	 	(a) 	
      the Issuer will be a “reporting issuer” in each of
      British Columbia, Alberta, Manitoba, Ontario and Quebec, the Issuer’s
      Common Shares will be listed and posted for trading on the Exchange and
      the Issuer will not be in material default of any of the requirements of
      the Acts or any of the administrative policies or notices of the
      Exchange;

	 	 	 
	 	(b) 	
      the Issuer will have delivered to the Agent and its legal
      counsel favourable opinions of the Issuer’s U.S. and Canadian legal
      counsel dated as of the date of Closing, addressed to the Agent, in such
      form as is acceptable to the Agent and its legal counsel as to all legal
      matters reasonably requested by the Agent relating to the business of the
      Issuer and the creation, issuance and sale of the Securities;

	 	 	 
	 	(c) 	
      the Issuer will have delivered to the Agent and its legal
      counsel a certificate of the Issuer, dated as of such date requested by
      the Agent and signed by the chief executive officer and the chief
      financial officer of the Issuer, or by such other officers approved by the
      Agent, certifying certain facts specified by the Agent and relating to the
      Issuer and its affairs;

	 	 	 
	 	(d) 	
      the Agent will have completed its due diligence review of
      the Issuer and the results will have been satisfactory to the Agent, in
      its sole discretion acting reasonably;

	 	 	 
	 	(e) 	
      the Issuer will have delivered to the Agent and its legal
      counsel such other certificates relating to the Private Placement or the
      affairs of the Issuer as the Agent or its legal counsel may reasonably
      request; and

	 	 	 
	 	(f) 	
      each representation and warranty of the Issuer which is
      contained in this Agreement continues to be true in all material respects,
      and the Issuer will have performed or complied in all material respects
      with all of its covenants, agreements and obligations under this
      Agreement.

9.2            
The Closing and the obligations of the Issuer and the Agent to complete the
issue and sale of the Securities are subject to: 

	 	(a) 	
      receipt of all required regulatory approvals for or
      acceptance of the Exchange for:

	 	 	 	 
	 		(i) 	
      the issuance of the Securities; and

	 	 	 	 
	 		(ii) 	
      the listing on the Exchange of the Shares, the Warrant
      Shares and the Agent’s Shares; and

	 	 	 	 
	 	(b) 	
      the removal or partial revocation of any cease trading
      order or trading suspension made by any competent authority to the extent
      necessary to complete the Private Placement.

- 9- 

10.             MATERIAL
CHANGES 

10.1           The
Issuer agrees that if, between the date of this Agreement and the Closing, a
Material Change or a change in a Material Fact occurs in respect of the Issuer,
the Issuer will: 

	 	(a) 	
      as soon as practicable notify the Agent in writing,
      setting forth the particulars of such change;

	 	 	 
	 	(b) 	
      as soon as practicable, issue and file with the
      applicable Regulatory Authorities a press release that is authorized by a
      senior officer of the Corporation disclosing the nature and substance of
      the change;

	 	 	 
	 	(c) 	
      as soon as practicable, and in any event no later than 10
      days after the date on which the change occurs, file with the Commissions
      any report required by the applicable Acts which discloses the change;
      and

	 	 	 
	 	(d) 	
      provide copies of that press release, when issued, and
      that report, when filed, to the Agent and its legal
  counsel.

11.           
 ISSUER OBLIGATIONS 

11.1          
The Issuer further agrees to: 

	 	(a) 	
      fully comply with the covenants made by the Issuer in the
      subscription agreements (the “Subscription Agreements”) entered
      into between the Issuer and each of the Purchasers;

	 	 	 
	 	(b) 	
      as soon as reasonably possible, take all such steps as
      may reasonably be necessary to enable the Units to be lawfully offered for
      sale and sold on a private placement basis under applicable Exemptions to
      Purchasers in the Offering Jurisdictions through the Agent or other
      investment dealers or brokers registered in the applicable jurisdictions,
      including the filing of such reports, within prescribed time periods, as
      may be required under the Acts and the U.S. Securities Act;

	 	 	 
	 	(c) 	
      permit the Agent and its legal counsel to participate
      fully in the preparation of any documents regarding the Private Placement
      and allow the Agent and its legal counsel to conduct all due diligence
      which the Agent may reasonably require or request; and

	 	 	 
	 	(d) 	
      ensure that the distribution of the Units will fully
      comply with the requirements of the Acts, the U.S. Securities Act and the
      policies of the Exchange.

11.2           The
Issuer will immediately send to the Agent and its legal counsel copies of all
correspondence and filings to and correspondence from the Regulatory Authorities
relating to the Private Placement. 

- 10- 

12.            
TERMINATION 

12.1           The
Agent may terminate its obligations under this Agreement by notice in writing to
the Issuer at any time before the Closing if: 

	 	(a) 	
      an adverse Material Change, or an adverse change in a
      Material Fact relating to any of the Securities occurs or is announced by
      the Issuer;

	 	 	 
	 	(b) 	
      there is an event, accident, law or governmental
      regulation or other occurrence of any nature which, in the opinion of the
      Agent, acting reasonably, seriously affects or would be expected to
      seriously affect the financial markets, or the business or operations of
      the Issuer or any of its subsidiaries, or the market price or value of the
      Issuer’s securities or the ability of the Agent to perform its obligations
      under this Agreement;

	 	 	 
	 	(c) 	
      following a consideration of the history, business,
      products, property or affairs of the Issuer or its principals and
      promoters, or of the state of the financial markets in general, or the
      state of the market for the Issuer’s securities in particular, the Agent
      determines, in its sole discretion, acting reasonably, that it is not in
      the interest of the Purchasers to complete the purchase and sale of the
      Units;

	 	 	 
	 	(d) 	
      an enquiry or investigation (whether formal or informal)
      or other proceeding in relation to the Issuer, or any of the Issuer’s
      directors, officers or promoters, is announced, commenced or threatened by
      any court, any Commission, the SEC, the Exchange or any other competent
      authority;

	 	 	 
	 	(e) 	
      any order to cease, halt or suspend trading (including an
      order prohibiting communications with persons in order to obtain
      expressions of interest) in any securities of the Issuer is made, or
      proceedings are announced or commenced for the making of such order by a
      competent regulatory authority and that order is still in effect and has
      not been rescinded, revoked or withdrawn;

	 	 	 
	 	(f) 	
      the results of the Agent’s due diligence review of the
      Issuer are not satisfactory as determined by the Agent in its sole
      discretion, acting reasonably;

	 	 	 
	 	(g) 	
      the Issuer is in breach of a material term of this
      Agreement;

	 	 	 
	 	(h) 	
      any of the representations or warranties made by the
      Issuer in this Agreement is false or has become false; or

	 	 	 
	 	(i) 	
      the Exchange will not accept for filing documentation
      relating to the Private Placement.

12.2           The
rights of the Agent to terminate this Agreement are in addition to such other
remedies as they may have in respect of any default, misrepresentation, act or
failure of the Issuer in respect of any of the matters contemplated by this
Agreement. 

12.3           Notwithstanding
any other term hereof, this Agreement will terminate if the Closing does not
occur within 90 days of the reference date of this Agreement. 

- 11- 

13.            
WARRANTIES, REPRESENTATIONS AND COVENANTS 

13.1          
The Issuer warrants and represents to and covenants with the Agent that, as at
the time of this Agreement: 

	 	(a) 	
      the Issuer and each of its subsidiaries is a valid and
      subsisting corporation duly incorporated and in good standing under the
      jurisdiction in which it is incorporated, continued or amalgamated and has
      all requisite corporate power and authority to carry on its respective
      businesses, as now conducted and as presently proposed to be conducted and
      to own its respective assets;

	 	 	 
	 	(b) 	
      the Issuer and each of its subsidiaries is duly
      incorporated and authorized to carry on business in the jurisdictions in
      which it carries on business or owns property where so required by the
      laws of that jurisdiction;

	 	 	 
	 	(c) 	
      the Issuer has no direct or indirect subsidiaries and
      does not own any securities of any entity (excluding portfolio
      investments) other than securities in the capital of IntelGenx Corp. and
      6544631 Canada Inc. which are held as follows: (a) the Issuer holds 100%
      of the outstanding securities of 6544631 Canada Inc. except for the
      Special Shares in the capital of 6544631 Canada Inc. which are not held by
      the Issuer and which are exchangeable by their holders, on a one for one
      basis, into shares of common stock of the Issuer; (b) 6544631 Canada Inc.
      holds all of the outstanding securities of IntelGenx Corp.; and (c) no
      other person has any other right, option or agreement to acquire any
      securities of such subsidiaries;

	 	 	 
	 	(d) 	
      the authorized share capital of the Issuer consists of
      100,000,000 Common Shares with a par value of US$0.00001 and 20,000,000
      shares of preferred stock with a par value of US$0.00001 and, as at August
      25, 2010, 33,081,271 Common Shares and no shares of preferred stock were
      issued and outstanding as fully paid and non-assessable shares in the
      capital of the Issuer;

	 	 	 
	 	(e) 	
      the Issuer will reserve or set aside sufficient Common
      Shares in its treasury to issue the Shares, the Warrant Shares and the
      Agent’s Shares, and upon the issuance thereof, the Shares, the Warrant
      Shares and the Agent’s Shares will all be duly and validly issued as fully
      paid and non-assessable;

	 	 	 
	 	(f) 	
      the representations made by the Issuer in the
      Subscription Agreements are accurate in all material respects and will
      omit no fact, the omission of which would make any such representations
      misleading or incorrect;

	 	 	 
	 	(g) 	
      the Issuer is a “reporting issuer” in the province of
      British Columbia, Alberta, Manitoba, Ontario and Quebec and is not in
      material default of or in material non- compliance with any of the
      requirements of the U.S. Securities Act, the U.S. Exchange Act, the Acts
      or any of the administrative policies or notices of the
Exchange;

	 	 	 
	 	(h) 	
      no order ceasing or suspending trading in securities of
      the Issuer nor prohibiting the sale of such securities has been issued to
      and is outstanding against the Issuer or any of its directors, officers or
      promoters or against any other companies that have common directors, officers or promoters and no
      investigations or proceedings for such purposes are pending or
      threatened;

- 12- 

	 	(i) 	
      the Issuer is in material compliance with the applicable
      filing and certification requirements of each of National Instrument
      51-102 Continuous Disclosure Obligations and Multilateral
      Instrument 52-109 Certification of Disclosure in Issuer’s Annual and
      Interim Filings;

	 	 	 
	 	(j) 	
      to the Issuer’s knowledge, the Issuer’s auditors are
      independent public accountants as required by the Acts;

	 	 	 
	 	(k) 	
      there has never been any reportable event (within the
      meaning of National Instrument 51-102) with the present or any former
      auditor of the Issuer;

	 	 	 
	 	(l) 	
      the Common Shares are listed for trading on the Exchange
      and the Shares and Warrant Shares to be issued hereunder will, at the time
      of issue, be conditionally listed on the Exchange or otherwise accepted
      for listing on the Exchange;

	 	 	 
	 	(m) 	
      the Securities will not be subject to a restricted period
      or statutory hold period under the Acts or to any resale restrictions
      under the policies of the Exchange which extends beyond four months and
      one day after the issuance of the Securities;

	 	 	 
	 	(n) 	
      except as qualified by the Disclosure Record, the Issuer
      or its subsidiaries, as the case may be, is the beneficial owner of the
      properties, business and assets or the interests in the properties,
      business or assets referred to in the Disclosure Record and all agreements
      by which the Issuer or any of its subsidiaries holds an interest in a
      property, business or assets are in good standing according to their terms
      and the properties in which the Issuer or a subsidiary holds an interest
      are in good standing under the applicable laws of the jurisdictions in
      which they are situated;

	 	 	 
	 	(o) 	
      there are no material misrepresentations in any of the
      documents that comprise the Disclosure Record or other publicly filed
      documents relating to the Issuer or its properties or assets which have
      not been superseded by subsequent disclosure in the Disclosure Record and
      the Disclosure Record does not omit any Material Fact relating to the
      Issuer or its subsidiaries;

	 	 	 
	 	(p) 	
      neither the issuer nor any subsidiary thereof has
      committed an act of bankruptcy or is insolvent, has proposed a compromise
      or arrangement to its creditors generally, has had a petition or a
      receiving order in bankruptcy filed against it, has made a voluntary
      assignment in bankruptcy, has taken any proceedings with respect to a
      compromise or arrangement, has taken any proceedings to have itself
      declared bankrupt or wound-up, has taken any proceedings to have a
      receiver appointed for any of its property or has had any execution or
      distress become enforceable or become levied upon any of its
    property;

- 13- 

	 	(q) 	
      the Issuer’s consolidated financial statements contained
      in the Disclosure Record have all been prepared in accordance with United
      States generally accepted accounting principles applied on a consistent
      basis, accurately reflect the financial position and all material liabilities (accrued, absolute,
      contingent or otherwise) of the Issuer and its subsidiaries (on a
      consolidated basis), as of the date thereof, and no adverse Material
      Changes in the financial position of the Issuer or any of its subsidiaries
      have taken place since the date of the most recent such audited financial
      statements and, to the Issuer’s knowledge, the accounting firm that has
      audited the Issuer’s consolidated financial statements contained in the
      Disclosure Record is an independent public accountant as required by the
      Exchange Act and the rules of the Public Company Accounting Oversight
      Board (“PCAOB”) and is registered and in good standing with
  PCAOB;

	 	 	 
	 	(r) 	
      each report filed with the SEC (an “SEC Report”)
      containing financial statements that has been filed with or submitted to
      the SEC since December 31, 2006 by or on behalf of the Issuer, was
      accompanied by the certifications required to be filed or submitted by the
      Issuer’s chief executive officer and chief financial officer pursuant to
      the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”);
      at the time of filing or submission of each certification, such
      certification was true and accurate and complied with the Sarbanes-Oxley
      Act and the rules and regulations promulgated thereunder; such
      certifications contain no qualifications or exceptions to the matters
      certified therein and have not been modified or withdrawn; and neither the
      Issuer nor any of its officers has received notice from any governmental
      entity questioning or challenging the accuracy, completeness, form or
      manner of filing or submission of such certification;

	 	 	 
	 	(s) 	
      there is and has been no failure on the part of the
      Issuer or any of its directors or officers, in their capacities as such,
      to comply with any provision of the Sarbanes- Oxley Act and the rules and
      regulations promulgated in connection therewith, including, without
      limitation, Section 402 related to loans;

	 	 	 
	 	(t) 	
      the Issuer has materially complied and will comply fully
      with the requirements of all applicable corporate and securities laws and
      administrative policies and directions, including, without limitation, the
      Acts and the Delaware General Corporation Law in relation to the issue and
      trading of its securities and in all matters relating to the Private
      Placement;

	 	 	 
	 	(u) 	
      there is no Material Change relating to the Issuer or any
      of its subsidiaries, and no change in any Material Fact relating to any of
      the Units which has not been or will not be fully disclosed in accordance
      with the requirements of the Acts, the U.S. Exchange Act and the policies
      of the Exchange;

	 	 	 
	 	(v) 	
      the issue and sale of the Securities by the Issuer do not
      and will not conflict with, or result in a breach of, any of the terms of
      the Issuer’s incorporating documents or any agreement or instrument to
      which the Issuer or any of its subsidiaries is a party or by which it is
      bound;

	 	 	 
	 	(w) 	
      other than as disclosed in the Disclosure Record, neither
      the Issuer nor any of its subsidiaries is a party to any actions, suits or
      proceedings which could materially affect its respective business or
      financial condition, and to the best of the
Issuer’s knowledge no such actions, suits or proceedings are
      contemplated or have been threatened;

- 14- 

	 	(x) 	
      neither the Issuer nor any of its subsidiaries, nor to
      the best of the Issuer’s knowledge, any other party, is in default in the
      observance or performance of any term or obligation to be performed by it
      under any contract entered into by the Issuer or any subsidiary which is
      material to the business of the Issuer or any subsidiary on a consolidated
      basis and, to the best of the Issuer’s knowledge, no event has occurred
      which with notice or lapse of time or both would directly or indirectly
      constitute such a default, in any such case which default or event would
      have a material adverse effect on the assets or properties, business,
      results of operations, prospects or condition (financial or otherwise) of
      the Issuer;

	 	 	 
	 	(y) 	
      there are no judgments against the Issuer or any of its
      subsidiaries which are unsatisfied, nor is the Issuer or any of its
      subsidiaries subject to any consent decrees or injunctions;

	 	 	 
	 	(z) 	
      this Agreement has been duly authorized by all necessary
      corporate action on the part of the Issuer, and the Issuer has full
      corporate power and authority to undertake the Private Placement, and this
      Agreement and the Subscription Agreements have been or will by the Closing
      be duly authorized, executed and delivered by the Issuer and are or will
      be legal, valid and binding obligations of the Issuer, enforceable against
      the Issuer in accordance with their terms subject to laws relating to
      creditors’ rights generally, the availability of equitable remedies and
      except as rights to indemnity and contribution may be limited by
      applicable law;

	 	 	 
	 	(aa) 	
      except as disclosed in the Disclosure Record, no person
      has or will, at Closing, have any right, agreement or option, present or
      future, contingent or absolute, or any right capable of becoming such a
      right, agreement or option, for the issue or allotment of any unissued
      shares in the capital of the Issuer or any of its subsidiaries or any
      other security convertible into or exchangeable for any such shares, or to
      require the Issuer or its subsidiaries to purchase, redeem or otherwise
      acquire any of the issued and outstanding shares in its capital;

	 	 	 
	 	(bb) 	
      the Issuer and each of its subsidiaries has filed all
      federal, provincial, local and foreign tax returns which are required to
      be filed, or has requested extensions thereof, and has paid all taxes
      required to be paid by it and any other assessment, fine or penalty levied
      against it, to the extent that any of the foregoing is due and payable,
      except for such assessments, fines and penalties which are currently being
      contested in good faith;

	 	 	 
	 	(cc) 	
      the Issuer and each of its subsidiaries has established
      on its respective books and records reserves which are adequate for the
      payment of all taxes not yet due and payable and there are no liens for
      taxes on the assets of the Issuer or any of its subsidiaries except for
      taxes not yet due, and there are no audits of any of the tax returns of
      the Issuer or any of its subsidiaries which are known by the Issuer’s
      management to be pending, and there are no claims which have been or, to
      the Issuer’s knowledge, may be asserted relating to any such
      tax returns which, if determined adversely, would result in the assertion
      by any governmental agency of any deficiency which would have a material
      adverse effect on the properties, business or assets of the Issuer or any
      of its subsidiaries;

- 15- 

	 	(dd) 	
      except as disclosed in the Disclosure Record, all
      operations of the Issuer and each of its subsidiaries have been conducted
      in accordance with good industry practices and to the best of the Issuer’s
      knowledge, in material compliance with applicable laws, rules,
      regulations, orders and directions of government and other competent
      authorities and, except as described in the Disclosure Record, the Issuer
      has all necessary authorizations, approvals, consents, orders, licenses,
      certificates and permits of and from all governmental or regulatory bodies
      or any other person or entity including, without limitation, the United
      States Food and Drug Administration (the “FDA”) and any agency of any
      foreign government and any other foreign regulatory authority exercising
      authority comparable to that of the FDA, to own, lease and license its
      assets and properties and conduct its business, all of which are valid and
      in full force and effect;

	 	 	 
	 	(ee) 	
      the minute books of the Issuer and each of its
      subsidiaries as provided or made available to the Agent are true and
      correct in all material respects and contain all the resolutions of its
      directors and shareholders, save for the resolutions approving the Private
      Placement;

	 	 	 
	 	(ff) 	
      the Issuer or its subsidiaries owns or has the right to
      use under license, sublicense or otherwise all material Intellectual
      Property used by the Issuer and its subsidiaries in each of their
      respective business. The Intellectual Property owned by the Issuer and its
      subsidiaries is free and clear of any and all liens, encumbrances or
      security interests of any nature, except for encumbrances or security
      interests granted in respect of general bank security incurred or granted,
      as the case may be, in the ordinary course of business;

	 	 	 
	 	(gg) 	
      except as disclosed in the Disclosure Record, there are
      no material restrictions on the ability of the Issuer and its subsidiaries
      to use and exploit all rights in the Intellectual Property required in the
      ordinary course of their respective businesses as currently
    conducted;

	 	 	 
	 	(hh) 	
      none of the rights of the Issuer or any of its
      subsidiaries in any Intellectual Property will be impaired or affected in
      any way by the transactions contemplated by this Agreement;

	 	 	 
	 	(ii) 	
      except as disclosed in the Disclosure Record, neither the
      Issuer nor any of its subsidiaries has received any notice of
      infringements of the Intellectual Property of any third party and, to the
      knowledge of the Issuer, there are no material infringements of or
      conflicts with asserted rights of others with respect to any of the
      Intellectual Property of the Issuer or any subsidiaries or of
      circumstances that would render any of the Issuer’s or any subsidiary’s
      Intellectual Property invalid or inadequate to protect the interests of
      the Issuer or the subsidiaries therein and which infringement or conflict
      (if subject to an unfavourable decision, ruling
or finding) or invalidity or inadequacy would have a
      material adverse effect on the Issuer and its subsidiaries, on a
      consolidated basis;

- 16- 

	 	(jj) 	
      the Issuer and each of its subsidiaries has taken
      reasonable measures to protect and preserve the confidentiality of all
      confidential information, trade secrets, know how and other non-patented
      proprietary information of the Issuer and its subsidiaries, and to protect
      and preserve its rights to all copyrighted material, confidential
      information, trade secrets, know how and other non-patented proprietary
      information relating to the business of the Issuer and its subsidiaries
      and developed or acquired by the Issuer’s or its subsidiary’s directors,
      officers, employees and consultants, including without limitation, the
      procurement of proprietary invention assignments and non-disclosure
      agreements from officers, employees, consultants, subcontractors and other
      persons who have access to such information or materials;

	 	 	 
	 	(kk) 	
      the Issuer is not, and after giving effect to the offer
      and sale of the Securities and the application of the proceeds of the
      Private Placement will not be, required to be registered as an “investment
      company” under the United States Investment Company Act of 1940, as
      amended and is not and will not be an entity “controlled” by an
      “investment company” within the meaning of such act;

	 	 	 
	 	(ll) 	
      neither the Issuer nor any of its affiliates, nor any
      person acting on its or their behalf (i) has made or will make any
      “directed selling efforts” (as such term is defined in Regulation S) in
      the United States;

	 	 	 
	 	(mm) 	
      the Issuer has not sold, offered for sale or solicited
      any offer to buy any of its securities in a manner that would be in
      violation of Section 5 of the U.S. Securities Act or any state securities
      laws, and all securities offered and sold in reliance upon an exemption
      from the registration requirements of the U.S. Securities Act, including
      offers and sales pursuant to Section 4(2) of the U.S. Securities Act,
      Regulation D or Rule 903 of Regulation S, were issued as “restricted
      securities” and contained an appropriate restrictive legend to such
      effect; further, the Issuer has not authorized the removal of any U.S.
      restrictive legend in violation of Rule 905 of Regulation S;

	 	 	 
	 	(nn) 	
      the Issuer has not, for a period of six months prior to
      the date hereof, sold, offered for sale or solicited any offer to buy any
      of its securities in a manner that would be integrated with the offer and
      sale of the Units and would cause the exclusion from registration set
      forth in Rule 903 of Regulation S to become unavailable with respect to
      the offer and sale of the Units;

	 	 	 
	 	(oo) 	
      the Issuer is a Domestic Issuer;

	 	 	 
	 	(pp) 	
      the Issuer is subject to the reporting requirements of
      section 13(a) or 15(d) of the U.S. Exchange Act, has filed with the SEC
      all reports required to be filed pursuant to the U.S. Exchange Act, such
      reports at the time they were filed with the SEC materially complied as to
      form with the requirements of the U.S.Exchange Act and the Issuer is not in default of any of
      the requirements of the U. S. Exchange Act;

- 17- 

	 	
      (qq) 
	
      neither the Issuer or, to the Issuer’s knowledge, any of
      its employees or agents, has at any time during the last five years (i)
      made any unlawful contribution to any candidate for non-United States
      office, or failed to disclose fully any such contribution in violation of
      law, or (ii) made any payment to any federal or state governmental officer
      or official, or other person charged with similar public or quasi-public
      duties, other than payments required or permitted by the laws of the
      United States of any jurisdiction thereof. The operations of the Issuer
      are and have been conducted at all times in compliance with applicable
      financial record- keeping and reporting requirements of the Currency and
      Foreign Transactions Reporting Act of 1970, as amended, the money
      laundering statutes of all applicable jurisdictions, the rules and
      regulations thereunder and any related or similar rules, regulations or
      guidelines issued, administered or enforced by any governmental agency
      (collectively, the "Money Laundering Laws") and no action, suit or
      proceeding by or before any court or governmental agency, authority or
      body or any arbitrator involving the Issuer or any Subsidiary with respect
      to the Money Laundering Laws is pending or, to the best knowledge of the
      Issuer, threatened. Neither the Issuer nor, to the knowledge of the
      Issuer, any director, officer, agent, employee or affiliate of the Issuer
      is currently subject to any U.S. sanctions administered by the Office of
      Foreign Assets Control of the U. S. Treasury Department ("OFAC");
      and the Issuer will not directly or indirectly use the proceeds of the
      Private Placement, or lend, contribute or otherwise make available such
      proceeds to any joint venture partner or other person or entity, for the
      purpose of financing the activities of any person currently subject to any
      U.S. sanctions administered by OFAC;

	 	 	 
	 	(rr) 	
      the Issuer has fulfilled its obligations, if any, under
      the minimum funding standards of Section 302 of the U.S. Employee
      Retirement Income Security Act of 1974 ("ERISA") and the
      regulations and published interpretations thereunder with respect to each
      "plan" as defined in Section 3(3) of ERISA and such regulations and
      published interpretations in which its employees are eligible to
      participate and each such plan is in compliance in all material respects
      with the presently applicable provisions of ERISA and such regulations and
      published interpretations. No "Reportable Event" (as defined in 12 ERISA)
      has occurred with respect to any "Pension Plan" (as defined in ERISA) for
      which the Issuer could have any liability;

	 	 	 
	 	(ss) 	
      the Issuer has established and maintains disclosure
      controls and procedures (as such term is defined in Rule 13a-15 under the
      U.S. Exchange Act), which: (i) are designed to ensure that material
      information relating to the Issuer is made known to the Issuer’s principal
      executive officer and its principal financial officer by others within the
      Issuer, particularly during the periods in which the periodic reports
      required under the U.S. Exchange Act are required to be prepared; (ii)
      provide for the periodic evaluation of the effectiveness of such
      disclosure controls and procedures at the end of the periods in which the
      periodic reports are required to be prepared; and (iii) are effective in all material
      respects to perform the functions for which they were
  established;

- 18- 

	 	(tt) 	
      the Issuer maintains a system of internal control over
      financial reporting (as such term is defined in Rule 13a-15(f) under the
      U.S. Exchange Act) that complies with the requirements of the U.S.
      Exchange Act and has been designed by the Issuer’s principal executive
      officer and principal financial officer, or under their supervision, to
      provide reasonable assurance regarding the reliability of financial
      reporting and the preparation of financial statements for external
      purposes in accordance with United States generally accepted accounting
      principles. The Issuer’s internal control over financial reporting is
      effective and the Issuer is not aware of any material weaknesses in their
      internal control over financial reporting;

	 	 	 
	 	(uu) 	
      the Issuer or, to the Issuer’s knowledge, any other
      person associated with or acting on behalf of the Issuer including,
      without limitation, any director, officer, agent or employee of the Issuer
      or its subsidiaries, has not, directly or indirectly, while acting on
      behalf of the Issuer or its subsidiaries (i) used any corporate funds for
      unlawful contributions, gifts, entertainment or other unlawful expenses
      relating to political activity; (ii) made any unlawful payment to foreign
      or domestic government officials or employees or to foreign or domestic
      political parties or campaigns from corporate funds; (iii) violated any
      provision of the Foreign Corrupt Practices Act of 1977, as amended; or
      (iv) made any other unlawful payment;

	 	 	 
	 	(vv) 	
      the Issuer will use all reasonable efforts to file, as
      required, the Registration Statement within the time period set forth in
      the Registration Rights Agreement;

	 	 	 
	 	(ww) 	
      the Issuer has not withheld, and will not withhold from
      the Agent, any facts relating to the Issuer or to the offering of the
      Units that would reasonably be considered material to a
  Purchaser;

	 	 	 
	 	(xx) 	
      other than the Agent, no person, firm or corporation
      acting or purporting to act at the request of the Issuer is entitled to
      any brokerage, agency or finder’s fee in connection with the transactions
      described herein which has not otherwise been disclosed to the Agent;
      and

	 	 	 
	 	(yy) 	
      the warranties and representations in this section are
      true and correct and will remain so as of the
Closing.

13.2          
The Agent warrants and represents to and covenants with the Issuer that: 

	 	(a) 	
      it is a valid and subsisting corporation under the laws
      of the jurisdiction in which it was incorporated;

	 	 	 
	 	(b) 	
      it is a broker or dealer properly registered under the
      Acts;

- 19- 

	 	(c) 	
      it will be acquiring Compensation Options as principal
      for its own account and not for the benefit of any other person and is an
      “accredited investor” as such term is defined under National Instrument
      45-106;

	 	 	 
	 	(d) 	
      the Agent has not been created or is being used solely to
      purchase or hold securities as an “accredited investor” as such term is
      defined in National Instrument 45-106;

	 	 	 
	 	(e) 	
      it is a member in good standing of the
Exchange;

	 	 	 
	 	(f) 	
      it is not a U.S. Person, did not receive the offer to
      acquire Compensation Options in the United States, did not execute this
      Agreement and did not and will not receive any such Compensation Options
      in the United States and is not acquiring Compensation Options for the
      account or benefit of a U.S. Person or person in the United
  States;

	 	 	 
	 	(g) 	
      in connection with the Private Placement, it will, on
      behalf of the Issuer, sell the Units to the Purchasers in compliance with
      the Acts and the restrictions set out in Section 5;

	 	 	 
	 	(h) 	
      it has not and will not conduct any directed selling
      efforts” (as such term is defined in Regulation S) in the United
      States;

	 	 	 
	 	(i) 	
      the Agent and its representatives have not engaged in or
      authorized, and will not engage in or authorize, any form of general
      solicitation or general advertising in connection with or in respect of
      the Securities in any newspaper, magazine, printed media of general and
      regular paid circulation or any similar medium, or broadcast over radio or
      television or otherwise or conducted any seminar or meeting concerning the
      offer or sale of the Securities whose attendees have been invited by any
      general solicitation or general advertising; and

	 	 	 
	 	(j) 	
      it will not engage in hedging transactions in regards to
      the Common Shares other than in compliance with Regulation S of the U.S.
      Securities Act.

13.3          
The Agent acknowledges that none of the Compensation Options or the Agent’s
Shares have been and may not be registered under the U.S. Securities Act or the
securities laws of any state and that the Compensation Options may not be
exercised in the United States or by or on behalf of a U.S. Person, nor may the
Compensation Options or the Agent’s Shares be offered or sold in the United
States unless registered under the U.S. Securities Act or pursuant to an
exemption from the registration requirements thereunder and any applicable state
securities law is available. 

- 20- 

14.            
EXPENSES OF AGENT 

14.1           The
Issuer will pay all of the expenses of the Private Placement and all the
reasonable expenses incurred by the Agent in connection with the Private
Placement including, without limitation, the reasonable fees and expenses of the
legal counsel for the Agent. 

14.2          
The Issuer will pay the expenses referred to in the previous subsection even if
the transactions contemplated by this Agreement are not completed or this
Agreement is terminated, unless the failure of acceptance or completion or the
termination is the result of a breach of this Agreement by the Agent. 

14.3           The
Agent may, from time to time, render accounts for its reasonable expenses in
connection with the Private Placement to the Issuer for payment on or before the
dates set out in the accounts. 

14.4          
The Issuer authorizes the Agent to deduct its reasonable expenses in connection
with the Private Placement, including, without limitation, the reasonable fees
and expenses of its legal counsel, from the proceeds of the Private Placement
and any advance payments made by the Issuer, including expenses for which an
account has not yet been rendered. 

15.           
 INDEMNITY 

15.1           Notwithstanding
any other term hereof, the Issuer will indemnify the Agent and each of the
Agent’s subsidiaries and affiliates and each of their respective agents,
directors, officers and employees (collectively, the “Indemnified
Parties”) and save them harmless against all losses, claims, damages or
liabilities: 

	 	(a) 	
      existing by reason of an untrue material statement
      contained in the Disclosure Record, any Subscription Agreement or other
      written or oral representation made by the Issuer to a Purchaser or
      potential Purchaser in connection with the Private Placement (except for
      information and statements supplied by and relating solely to the
      Agent);

	 	 	 
	 	(b) 	
      arising directly or indirectly out of any order made by
      any regulatory authority, based upon an allegation that any such untrue
      statement or representation, or omission exists (except information and
      statements supplied by and relating solely to the Agent), that trading in
      or distribution of any of the Securities is to cease;

	 	 	 
	 	(c) 	
      resulting from the failure by the Issuer to obtain the
      requisite regulatory approval for the Private Placement unless the failure
      to obtain such approval is the result of a breach of this Agreement by the
      Agent or the Exchange’s discretion to refuse to provide final acceptance
      of the subscription of any Purchaser;

	 	 	 
	 	(d) 	
      resulting from the breach by the Issuer of any of the
      material terms of this Agreement;

	 	 	 
	 	(e) 	
      resulting from any breach of any representation or
      warranty made by the Issuer herein;

- 21- 

	 	(f) 	
      if the Issuer fails to issue and deliver the Certificates
      representing the Securities in the form and denominations reasonably
      satisfactory to the Agent at the time and place required by the Agent with
      the result that any completion of a sale of the Securities does not take
      place;

	 	 	 
	 	(g) 	
      if, following the completion of a sale of any of the
      Securities, a determination is made by any competent authority setting
      aside the sale, unless that determination arises out of an act or omission
      by the Agent; or

	 	 	 
	 	(h) 	
      otherwise suffered by the Indemnified Party as a result
      of acting hereunder,

provided that, in the event of a court of competent
jurisdiction in a final judgment from which no appeal can be made or a
regulatory authority in a final order from which no appeal can be made shall
determine that the losses, claims, damages or liabilities for which indemnity is
claimed resulted from the negligence, wilful misconduct, fraud or dishonesty of
an Indemnified Party, this indemnity shall not apply. 

15.2           If
any action or claim is brought against an Indemnified Party in respect of which
indemnity may be sought from the Issuer pursuant to this Agreement, the
Indemnified Party will promptly notify the Issuer in writing. 

15.3          
The Issuer will assume the defence of any action or claim brought by a third
party, including the employment of counsel and the payment of all expenses as
and when such expenses are incurred. 

15.4          
The Indemnified Party will have the right to employ separate counsel, and the
Issuer will pay the reasonable fees and expenses of such counsel if: 

	 	(a) 	
      the Indemnified Party has been advised by counsel, acting
      reasonably, that representation of the Issuer and the Indemnified Party by
      the same counsel would be inappropriate due to actual or potential
      differing interests between them; or

	 	 	 
	 	(b) 	
      the Issuer has failed within a reasonable time after
      receipt of such written notice to assume the defense of such action or
      claim.

15.5          
It is understood and agreed that neither party may effect any settlement of any
such action or claim or make any admission of liability without the written
consent of the other party, such consent not to be unreasonably withheld or
delayed. 

15.6          
The indemnity provided for in this section will not be limited or otherwise
affected by any other indemnity obtained by any Indemnified Party from any other
person in respect of any matters specified in this Agreement and will continue
in full force and effect until all possible liability of the Indemnified Parties
arising out of the transactions contemplated by this Agreement has been
extinguished by the operation of law. 

15.7          
If indemnification under this Agreement is found in a final judgment (not
subject to further appeal) by a court of competent jurisdiction not to be
available for reason of public policy, the Issuer and each Indemnified Party
will contribute to the losses, claims, damages, liabilities or expenses (or
actions in respect thereof) for which such indemnification is held unavailable in such proportion as is appropriate to reflect the
relative benefits to and fault of the Issuer, on the one hand, and each
respective Indemnified Party on the other hand, in connection with the matter
giving rise to such losses, claims, damages, liabilities or expenses (or actions
in respect thereof). No person found liable for a fraudulent misrepresentation
(within the meaning of applicable securities laws) will be entitled to
contribution from any person who is not found liable for such fraudulent
misrepresentation. 

- 22- 

15.8           To
the extent that any Indemnified Party is not a party to this Agreement, the
Agent will obtain and hold the right and benefit of this section in trust for
and on behalf of such Indemnified Party. 

16.            
RIGHT OF FIRST REFUSAL 

16.1           The
Issuer will provide the Agent written notice (the “ROFR Notice”) setting
out the terms of any further equity financing that it requires or proposes to
obtain in a brokered financing during the 12 months following the Closing Date
and the Agent will have the right of first refusal (the “ROFR”) to act as
the Issuer’s sole and exclusive agent to distribute securities to potential
purchasers in respect of any such financing. 

16.2           The
ROFR must be exercised by the Agent within 10 days following the receipt of the
ROFR Notice by notifying the Issuer that it will act as the Issuer’s exclusive
agent with respect to such financing on the terms set out in the ROFR Notice
subject to such commissions and fees as may be mutually agreed between the Agent
and the Issuer. 

16.3          
If the Agent fails to give notice within the 10 days referred to in Section 17.2
that it will provide such financing upon the terms set out in the ROFR Notice,
the Issuer will then be free to make other arrangements to obtain financing from
another source on the same terms or on terms no less favourable to the Issuer.

16.4           The
ROFR provided in this Section 17 will not terminate if, on receipt of any ROFR
Notice from the Issuer under this section, the Agent fails to exercise the ROFR.

17.            
ASSIGNMENT AND SELLING GROUP PARTICIPATION 

17.1           The
Agent will not assign this Agreement or any of its rights under this Agreement
or, with respect to the Securities, enter into any agreement in the nature of an
option or a sub-option unless and until, for each intended transaction, the
Agent has obtained the consent of the Issuer, and any required notice has been
given to and accepted by the Regulatory Authorities. 

17.2           Notwithstanding
Section 17.1, the Agent may offer selling group participation in the normal
course of the brokerage business to selling groups of other licensed dealers,
brokers and investment dealers, who may or who may not be offered part of the
Agent’s Commission and the Compensation Options. The Agent agrees, however, that
the Compensation Options will not be offered pursuant to this paragraph and will
not be issued by the Issuer except to a person who the Agent reasonably believes
complies with the representations and warranties set forth in Section 13.2 of
this Agreement. The Agent shall be solely responsible for all compensation of the selling group members, such compensation to be derived from
the Agent’s Commission hereunder.

- 23- 

18.            
CONFIDENTIALITY 

18.1          
The Agent will establish reasonable procedures to hold in confidence all
information received by it from the Issuer which has not been generally
disclosed to the public and will not knowingly disclose such information, except
as required in its opinion, acting reasonably, to discharge its obligations:

	 	(a) 	
      under this Agreement; and

	 	 	 
	 	(b) 	
      under applicable law or regulatory
  policy.

19.            
PUBLIC DISCLOSURE 

19.1           The
Issuer agrees that no public announcement or press release concerning this
Agreement or any other instrument related thereto, or the relationship between
the Issuer and the Agent shall be made without prior written consent of the
Agent, such consent not to be unreasonably withheld or delayed. 

20.            
SEVERABILITY 

20.1          
If any provision of this Agreement is found to be illegal or unenforceable, it
will be considered separate and severable from this Agreement and the remaining
provisions of this Agreement will remain in force and be binding upon the
parties as though the illegal or unenforceable provision had never been
included. 

21.           
 NOTICE 

21.1          
All notices required to be given under this Agreement must be made in writing
and either delivered or sent by facsimile to the party to whom notice is to be
given at the address below or at such other address designated by that party in
writing: 

If to the Issuer: 

IntelGenx Technologies Corp. 

  6425 Abrams 

  Ville St. Laurent, Quebec 

  H4S 1X9 

Attention:           Horst
G. Zerbe

  Fax:                     (514)
  331-0436 

- 24- 

with a copy to: 

Hodgson Russ LLP 
150 King Street

Toronto, Ontario 
M5H 1J9 

Attention:           Richard
B. Raymer

Fax:                     (416)
595-5021 

If to the Agent: 

Bolder Investment Partners, Ltd.

Suite 800 – 1450 Creekside Drive 
Vancouver, BC 
V6J 5B3 

Attention:           Martin
Burian

Fax:                     (604)
714-2301 

with a copy to: 

McCullough O’Connor Irwin LLP

Solicitors 
Suite 2610, Oceanic Plaza 
1066 West Hastings Street

Vancouver, BC 
V6E 3X1 

Attention:           James
Beeby

  Fax:                     (604)
  687-7099 

21.2          
If notice is sent by facsimile or is delivered, it will be deemed to have been
given at the time of transmission or delivery. 

21.3          
If notice is mailed, it will be deemed to have been received five Business Days
following the date of mailing of the notice unless there is an interruption in
normal mail service due to strike, labour unrest or other cause during such five
Business Days, in which case any notice sent by mail shall be deemed not to have
been received until it is actually received. 

22.            
GENERAL 

22.1           Time
is of the essence of this Agreement and will be calculated in accordance with
the provisions of the Interpretation Act (British Columbia). 

22.2           The
representations, warranties, covenants and indemnities of the Issuer and the
Agent contained in this Agreement will survive the Closing and will continue in
full force and effect for the benefit of the parties, regardless of any due
diligence investigation carried out by or on behalf of any party with respect
thereto. 

- 25- 

22.3           This
Agreement is to be read with all changes in gender or number as required by the
context. 

22.4           This
Agreement enures to the benefit of and is binding on the parties to this
Agreement and their successors and permitted assigns. Notwithstanding the
foregoing, this Agreement may not be assigned by either party without the prior
written consent of the other party. 

22.5          
The headings in this Agreement are for convenience of reference only and do not
affect the interpretation of this Agreement. 

22.6           This
Agreement is governed by, subject to and interpreted in accordance with the laws
of the Province of British Columbia and the federal laws of Canada applicable
therein, and the courts of the Province of British Columbia will have the
exclusive jurisdiction over any dispute arising in connection with this
Agreement. 

22.7          
Unless otherwise indicated, all dollar amounts referred to in this Agreement are
in lawful money of Canada. 

22.8           This
Agreement constitutes the entire agreement between the parties with respect to
the subject matter of this Agreement and supersedes all prior and
contemporaneous agreements, understandings, negotiations and discussions,
whether oral or written, of the parties and, except as incorporated by reference
above, there are no warranties, representations or other agreements between the
parties in connection with the subject matter of this Agreement unless signed by
each party and purporting to be an amendment to this Agreement. 

22.9           This
Agreement may be executed in two or more counterparts and may be delivered by
electronic delivery or facsimile, each of which will be deemed to be an original
and all of which will constitute one agreement, effective as of the date first
given above. 

The remainder of this page left intentionally blank. 

- 26- 

If the terms of this Agreement accurately reflect your
understanding and you agree with them, then please signify your acceptance by
signing each copy or counterpart of this Agreement on behalf of the Issuer where
indicated below. Please return the originally signed copies or counterparts to
us. 

Yours truly, 

BOLDER INVESTMENT PARTNERS, LTD. 

Per:   /s/ Paul Woodward                                       

           
Authorized Signatory 

The foregoing is accepted and agreed to by IntelGenx
Technologies Corp.. on the 27th day of August, 2010, effective as of the date
appearing on the first page of this Agreement. 

INTELGENX TECHNOLOGIES CORP. 

  

Per:   /s/ Horst G. Zerbe                                               

           
Authorized SignatoryIntelGenx Technologies Corp.: Exhibit 10.2 - Filed by newsfilecorp.com

Exhibit 10.2

INTELGENX TECHNOLOGIES CORP. 

  REGISTRATION RIGHTS AGREEMENT

     This Registration Rights
Agreement (this “Agreement”) is made and entered into as of the o day of
August, 2010 between IntelGenx Technologies Corp., a Delaware corporation (the
“Company”), and each of the several purchasers signatory hereto (each
such purchaser, a “Purchaser” and, collectively, the
“Purchasers”).

RECITALS

     WHEREAS the Company
proposes to issue to the Purchasers Units (the “Units”), each Unit is
comprised of one share of common stock of the Company (the “Unit Shares”)
and one common share purchase warrant (the “Warrants”) entitling the
Purchasers to subscribe for one share of common stock of the Company (the
“Warrant Shares”) pursuant to subscription agreements as described in the
Agency Agreement dated o, 2010 (the “Agency Agreement”) between the
Company and Bolder Investment Partners Ltd. (the “Agents”);

     AND WHEREAS the Company
proposes to issue to the Agents compensation options (the “Compensation
Options”) entitling the Agents to acquire shares of common stock of the
Company (the “Compensation Option Shares”) pursuant to the Agency
Agreement;

     AND WHEREAS, pursuant to
the Agency Agreement, the Company has agreed to effect the registration of the
Unit Shares, Warrants, Warrant Shares, Compensation Options, and Compensation
Option Shares on the terms and subject to the conditions set forth and
herein;

     NOW THEREFORE, in
consideration of the foregoing premises and for other good and valuable
consideration, the parties hereby agree as follows:

1.     
       REGISTRATION
RIGHTS.

1.1           Certain
Definitions. As used in this Agreement, the following terms shall have
the meanings set forth below:

	 	(a) 	
      “Closing” shall mean the closing of the initial
      sale of the Units and the issuance of the Compensation Options;

	 	 	 
	 	(b) 	
      “Commission” shall mean the United States
      Securities and Exchange Commission or any other federal agency at the time
      administering the Securities Act;

	 	 	 
	 	(c) 	
      “Common Shares” shall mean shares of common stock
      of the Company;

	 	 	 
	 	(d) 	
      “Exchange Act” shall mean the United States
      Securities Exchange Act of 1934, as amended;

	 	 	 
	 	(e) 	
      “Holder” shall mean any holder of Registrable
      Securities and any holder of Registrable Securities to whom the
      registration rights conferred by this Agreement have been transferred in
      compliance with Section 1.8 hereof;

	 	 	 
	 	(f) 	 “Registrable Securities” shall mean
        (i) the Unit Shares, (ii) the Warrants, (iii) the Warrant Shares, (iv)
        the Compensation Options, (v) the Compensation Option Shares, and (vi)
        any Common Shares issued as a dividend or other distribution with respect
        to or in exchange for or in replacement of the securities referenced in
        (i) to (vi) above, provided, however, that Registrable Securities shall
        not include (a) any Unit Shares, Warrant Shares or Compensation Options
        sold to the public either pursuant to a registered public offering or
        Rule 144, or (b) any Common Unit Shares, Warrant Shares or Compensation
        Options held by a Holder that may immediately be sold under Rule 144(b)(1);

	 	 	 
	 	(g) 	 The terms “register,” “registered”
        and “registration” shall refer to a registration effected
        by preparing and filing the Registration Statement, and the declaration
        or ordering of the effectiveness of such registration statement;

	 	 	 
	 	(h) 	 “Registration Expenses” shall mean
        all expenses incurred in effecting any registration pursuant to this Agreement,
        including, without limitation, all registration, qualification and filing
        fees, printing expenses, escrow fees, fees and disbursements of counsel
        for the Company, blue sky fees and expenses, fees and disbursements of
        counsel for the Holders (which shall not exceed in the aggregate US$5,000)
        and expenses of any regular or special audits incident to or required
        by any such registration, but shall not include Selling Expenses, and
        the compensation of regular employees of the Company, which shall be paid
        in any event by the Company;

	 	 	 
	 	(i) 	 “Registration Statement” shall mean
        the registration statement filed by the Company pursuant to the Securities
        Act relating to the resale of the Registrable Securities by the Holders,
        and all amendments and supplements to such Registration Statement, including
        pre- and post-effective amendments;

	 	 	 
	 	(j) 	 “Rule 144” shall mean Rule 144 as promulgated
        by the Commission under the Securities Act, as such Rule may be amended
        from time to time, or any similar successor rule that may be promulgated
        by the Commission;

	 	 	 
	 	(k) 	 “Securities Act” shall mean the United
        States Securities Act of 1933, as amended;

	 	 	 
	 	(l) 	 “Selling Expenses” shall mean all underwriting
        discounts, selling commissions and stock transfer taxes applicable to
        the sale of Registrable Securities;

	 	 	 
	 	(m) 	 “Shell Issuer” means an issuer with
        no or nominal operations and either (i) no or nominal assets, (ii) assets
        consisting solely of cash and cash equivalents or (iii) assets consisting
        of any amount of cash and cash equivalents and nominal other assets; and

	 	 	 
	 	(n) 	 “Purchasers” shall mean the persons
        acquiring Registrable Securities in connection with subscription agreements
        in the form agreed upon by the Agents and the Company.

1.2           Registration

	 	(a) 	
      The Company covenants to prepare and file with the
      Commission, as promptly as practicable following the Closing and in any
      event within 30 days after the Closing, a Registration Statement for an
      offering to be made on a continuous shelf basis following the date of
      effectiveness covering the resale of the Registrable Securities by the
      Holders. The Registration Statement shall be on Form S-1, if available,
      under the Securities Act or another appropriate form selected by the
      Company permitting registration of the resale of the Registrable
      Securities by the Holders from time to time. The Company shall use its
      best efforts to cause the Registration Statement to become effective
      pursuant to the Securities Act within 120 days after the
Closing.

	 	 	 
	 	(b) 	 The Registration Statement shall not be deemed to have
        become effective under the Securities Act unless it has been filed and
        has been declared effective under the Securities Act by the Commission
        and remains effective pursuant to the Securities Act with respect to the
        disposition of all Registrable Securities on a continuous shelf basis
        until all such Registrable Securities are sold or cease to be Registrable
        Securities.

- 2 -

1.3           Expenses
  of Registration. The Company shall pay all Registration Expenses whether
  or not such registration shall become effective.

1.4           Registration
Procedures. In the case of the registration effected by the Company
pursuant to this Agreement, the Company will keep each Holder advised in writing
as to the initiation of such registration and as to the completion thereof. At
its expense, the Company will use its best efforts to:

	 	(a) 	
      keep such Registration Statement effective until all such
      Registrable Securities are sold pursuant to the Registration Statement or
      cease to be Registrable Securities; provided however, that unless prior
      thereto all such Registrable Securities are (i) sold pursuant to the
      Registration Statement or Rule 144, or (ii) reissued by the Company
      without restrictive legend and may immediately be sold under Rule 144
      without restrictions, such Registration Statement shall be kept effective
      for a period of at least five years; provided further, that if at any time
      after the Registration Statement is no longer required to be kept
      effective pursuant to the above provisions of this subparagraph and is no
      longer effective, but prior to the time that all the Unit Shares, Warrant
      Shares or Compensation Option Shares have been sold either pursuant to the
      prior effective Registration Statement or Rule 144, the Company ceases to
      be subject to the reporting obligations of sections 13 or 15(d) of the
      Exchange Act, ceases to be current in its filing obligations under
      sections 13 or 15(d) of the Exchange Act (except for Form 8-K reports), or
      becomes a Shell Issuer (a “Rule 144 Default Event”), the Company
      shall promptly file a Registration Statement covering such unsold Unit
      Shares, Warrant Shares and Option Compensation Shares and shall keep such
      Registration Statement effective until such time as all the Unit Shares,
      Warrant Shares or Compensation Option Shares have been sold pursuant to
      such Registration Statement or the Company again becomes subject to the
      reporting obligations of sections 13 or 15(d) of the Exchange Act, is
      current in its reporting obligations under sections 13 or 15(d) of the
      Exchange Act and, in the case of the Company becoming a Shell Issuer, the
      Company ceases to be a Shell Issuer, has filed “Form 10 information” with
      the SEC and one year has elapsed since the Company filed such “Form 10
      information”; upon occurrence of a Rule 144 Default Event, the Company
      shall be subject to the penalty provisions of Section 3 hereof for a
      filing default until such time as the Company files and brings effective a
      Registration Statement covering the unsold Units Shares, Warrant Shares
      and Compensation Option Shares or until such time as the Company is no
      longer required to keep such a Registration Statement effective pursuant
      to the above;

	 	 	 
	 	(b) 	
      prepare and file with the Commission such amendments and
      supplements to such Registration Statement and any prospectus used in
      connection with such registration statement as may be necessary to keep
      such Registration Statement effective and to comply with the provisions of
      the Securities Act with respect to the disposition of all Registrable
      Securities covered by such Registration Statement;

	 	 	 
	 	(c) 	 notify each seller of Registrable Securities covered
        by such Registration Statement at any time when a prospectus relating
        thereto is required to be delivered under the Securities Act of the happening
        of any event as a result of which a prospectus, if applicable, included
        in such registration statement, as then in effect, (i) no longer meets
        the requirements of Section 10(a)(3) of the Securities Act, or (ii) includes
        an untrue statement of a material fact or omits to state a material fact
        required to be stated therein or necessary to make the statements therein
        not misleading or incomplete in the light of the circumstances then existing,
        and that offers and sales of Registrable Securities in reliance on any
        such prospectus included in the Registration Statement must cease. Within
        five (5) business days of such notice, the Company shall prepare and furnish
        to such seller a reasonable number of copies of a supplement to or an
        amendment of such prospectus as may be necessary so that, as thereafter
        delivered to the purchasers of such shares, such prospectus used shall
        meet the requirements of Section 10(a)(3) of the Securities Act, or not
        include an untrue statement of a material fact or omit to state a material
        fact required to be stated therein or necessary to make the statements
        therein not misleading or incomplete in the light of the circumstances
        then existing;

- 3 -

	 	 	 
	 	(d) 	 cause all such Registrable Securities registered pursuant
        hereunder to be listed or quoted on each securities exchange or quotation
        service on which similar securities issued by the Company are then, or
        subsequently, listed;

	 	 	 
	 	(e) 	 use its best efforts to obtain all other approvals,
        consents, exemptions or authorizations from such governmental agencies
        or authorities as may be necessary to enable the Holders to consummate
        the disposition of the Registrable Securities;

	 	 	 
	 	(f) 	 provide a transfer agent and registrar for all Registrable
        Securities registered pursuant to the Registration Statement and a CUSIP
        number for all such Registrable Securities, in each case not later than
        the effective date of such registration;

	 	 	 
	 	(g) 	 otherwise comply with all applicable rules and regulations
        of the Commission;

	 	 	 
	 	(h) 	 subject to compliance with the requirements of the Securities
        Act, cooperate with the Holders to facilitate the timely preparation and
        delivery of certificates not bearing any restrictive legends representing
        the Registrable Securities sold pursuant to the Registration Statement,
        and cause such Registrable Securities to be issued in such denominations
        and registered in such names in accordance with instructions of the Holders
        that are provided to the Company;

	 	 	 
	 	(i) 	 in connection with any underwritten offering pursuant
        to a Registration Statement, the Company will enter into an underwriting
        agreement with an underwriter selected and retained by the Agents, and
        reasonably acceptable to the Company in its discretion, in form reasonably
        necessary to effect the offer and sale of such securities, provided such
        underwriting agreement contains reasonable and customary terms and provisions;

	 	 	 
	 	(j) 	 furnish, on the date that such Registrable Securities
        are delivered to the underwriters for sale, if such securities are being
        sold through underwriters or, if such securities are not being sold through
        underwriters, on the date that the Registration Statement becomes effective,
        (i) an opinion, dated as of such date, of the counsel representing the
        Company for the purposes of such registration, in form and substance as
        is customarily given to underwriters in a underwritten public offering,
        (ii) a letter, dated as of such date, from the independent certified public
        accountants of the Company, in form and substance as is customarily given
        by the Company’s independent registered public accountants to underwriters
        in an underwritten public offering, addressed to the underwriters, if
        any, and if permitted by applicable accounting standards, to the Holders
        participating in such registration, and (iii) other documents and certificates
        as are customary for offerings of this type;

	 	 	 
	 	(k) 	 use its best efforts to register and qualify the Registrable
        Securities under such other securities or blue sky laws of such jurisdictions
        as each Holder shall request, and do any and all other acts and things
        which may be necessary or advisable to enable such Holder to consummate
        the public sale or other disposition in such jurisdictions of the securities
        owned by such Holder; and

	 	 	 
	 	(l) 	 take such other actions as shall be reasonably requested
        by the Agents to facilitate the registration and sale of the Registrable
        Securities.

- 4 -

1.5           Indemnification.

	 	(a) 	
      The Company will indemnify each Holder, each of its
      officers, directors and partners, legal counsel, and accountants and each
      person controlling such Holder within the meaning of Section 15 of the
      Securities Act, with respect to which registration has been effected
      pursuant to this Agreement, and each underwriter, if any, and each person
      who controls within the meaning of Section 15 of the Securities Act any
      such underwriter, against all expenses, claims, losses, damages, and
      liabilities (or actions, proceedings or settlements in respect thereof)
      arising out of or based on any untrue statement (or alleged untrue
      statement) of a material fact contained in the Registration Statement, or
      based on any omission (or alleged omission) to state therein a material
      fact required to be stated therein or necessary to make the statements
      therein not misleading, or any violation by the Company of the Securities
      Act or any rule or regulation thereunder applicable to the Company and
      relating to action required of the Company in connection with any such
      registration, and will reimburse each such Holder, each of its officers,
      directors, partners, legal counsel, and accountants and each person
      controlling such Holder, each such underwriter, and each person who
      controls any such underwriter, for any legal and any other expenses
      reasonably incurred in connection with investigating and defending or
      settling any such claim, loss, damage, liability or action, provided that
      the Company will not be liable in any such case to the extent that any
      such claim, loss, damage, liability or expense arises out of or is based
      on any untrue statement or omission based upon written information
      furnished to the Company by such Holder or underwriter. It is agreed that
      the indemnity agreement contained in this Section 1.5 shall not apply to
      amounts paid in settlement of any such loss, claim, damage, liability or
      action if such settlement is effected without the consent of the Company
      (which consent shall not be unreasonably withheld).

	 	 	 
	 	(b) 	
      Each Holder will, if Registrable Securities held by such
      Holder are included in the securities as to which such registration is
      being effected, indemnify the Company, each of its directors, officers,
      partners, legal counsel, and accountants and each underwriter, if any, of
      the Company’s securities covered by such a registration statement, each
      person who controls the Company or such underwriter within the meaning of
      Section 15 of the Securities Act, each other such Holder, and each of
      their officers, directors, and partners, and each person controlling such
      Holder, against all claims, losses, damages and liabilities (or actions in
      respect thereof) arising out of or based on any untrue statement (or
      alleged untrue statement) of a material fact contained in the Registration
      Statement or any omission (or alleged omission) to state therein a
      material fact required to be stated therein or necessary to make the
      statements therein not misleading, and will reimburse the Company and such
      other Holders, directors, officers, partners, legal counsel, and
      accountants, persons, underwriters, or control persons for any legal or
      any other expenses reasonably incurred in connection with investigating or
      defending any such claim, loss, damage, liability or action, in each case
      to the extent, but only to the extent, that such untrue statement (or
      alleged untrue statement) or omission (or alleged omission) is made in the
      Registration Statement in reliance upon and in conformity with written
      information furnished to the Company by such Holder provided, however,
      that the obligations of such Holder hereunder shall not apply to amounts
      paid in settlement of any such claims, losses, damages or liabilities (or
      actions in respect thereof) if such settlement is effected without the
      consent of such Holder (which consent shall not be unreasonably withheld);
      and provided that in no event shall any indemnity under this Section 1.5
      exceed the gross proceeds from the offering received by such
  Holder.

	 	 	 
	 	(c) 	 Each party entitled to indemnification under this Section
        1.5 (the “Indemnified Party”) shall give notice to the
        party required to provide indemnification (the “Indemnifying Party”)
        promptly after such Indemnified Party has actual knowledge of any claim
        as to which indemnity may be sought, and shall permit the Indemnifying
        Party to assume the defense of such claim or any litigation resulting
        therefrom, provided that counsel for the Indemnifying Party, who shall
        conduct the defense of such claim or any litigation resulting therefrom,
        shall be approved by the Indemnified Party (whose approval shall not be
        unreasonably withheld), and the Indemnified Party may participate in such
        defense at such party’s expense, and provided further that the failure
        of any Indemnified Party to give notice as provided herein shall not relieve
        the Indemnifying Party of its obligations under this Section 1.5, to the
        extent such failure is not materially prejudicial to such defence. No
        Indemnifying Party, in the defense of any such claim or litigation, shall,
        except with the consent of each Indemnified Party, consent to entry of
        any judgment or enter into any settlement that does not include as an
        unconditional term thereof the giving by the claimant or plaintiff to
        such Indemnified Party of a release from all liability in respect to such
        claim or litigation. Each Indemnified Party shall furnish such information
        regarding itself or the claim in question as an Indemnifying Party may
        reasonably request in writing and as shall be reasonably required in connection
        with the defense of such claim and litigation resulting therefrom.

- 5 -

	 	 	 
	 	(d) 	 If the indemnification provided for in this Section
        1.5 is held by a court of competent jurisdiction to be unavailable to
        an Indemnified Party with respect to any loss, liability, claim, damage
        or expense referred to therein, then the Indemnifying Party, in lieu of
        indemnifying such Indemnified Party hereunder, shall contribute to the
        amount paid or payable by such Indemnified Party as a result of such loss,
        liability, claim, damage or expense in such proportion as is appropriate
        to reflect the relative fault of the Indemnifying Party on the one hand
        and of the Indemnified Party on the other in connection with the statements
        or omissions that resulted in such loss, liability, claim, damage or expense
        as well as any other relevant equitable considerations. The relative fault
        of the Indemnifying Party and of the Indemnified Party shall be determined
        by reference to, among other things, whether the untrue or alleged untrue
        statement of a material fact or the omission to state a material fact
        relates to information supplied by the Indemnifying Party or by the Indemnified
        Party and the parties’ relative intent, knowledge, access to information
        and opportunity to correct or prevent such statement or omission.

	 	 	 
	 	(e) 	 The Indemnifying Party agrees to reimburse any Indemnified
        Party monthly upon receipt of invoice(s) therefor, for the time spent
        by the Indemnified Party’s personnel where they are required to testify,
        attend or otherwise respond to any claim at their normal per diem rates.

	 	 	 
	 	(f) 	 Notwithstanding the foregoing, to the extent that the
        provisions on indemnification and contribution contained in the underwriting
        agreement entered into in connection with the underwritten public offering
        are in conflict with the foregoing provisions, the provisions in the underwriting
        agreement shall control.

1.6          
Information by Holder. Each Holder shall furnish to the Company such
information regarding such Holder and the distribution proposed by such Holder
as the Company may reasonably request in writing and as shall be reasonably
required in connection with any registration, qualification or compliance
referred to in this Agreement.

1.7          
Rule 144 Reporting. With a view to making available the benefits of
certain rules and regulations of the Commission that may permit the sale of the
Registrable Securities to the public without registration, the Company agrees
to:

	 	(a) 	
      file with the Commission in a timely manner all reports
      and other documents required of the Company under the Securities Act and
      the Exchange Act at any time it is subject to such reporting requirements;
      and

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	 	(b) 	
      so long as a Holder owns any Registrable Securities,
      furnish to the Holder forthwith upon written request a written statement
      by the Company as to its compliance with the reporting requirements of the
      Exchange Act, a copy of the most recent annual or quarterly report of the
      Company, and such other reports and documents so filed as a Holder may
      reasonably request in availing itself of any rule or regulation of the
      Commission allowing a Holder to sell any such securities without
      registration.

1.8           Transfer
or Assignment of Registration Rights. The registration rights granted
to a Holder by the Company under this Agreement may be transferred or assigned
by a Holder provided that the Company is given written notice at the time of or
within a reasonable time after said transfer or assignment, stating the name and
address of the transferee or assignee and identifying the Registrable Securities
being transferred or assigned. Such transferees (other than transferees that
acquire the Registrable Securities in a registered public offering or pursuant
to a sale under Rule 144) shall automatically be entitled to receive the
benefits of and be conclusively deemed to have agreed to be bound by the terms
and provisions of this Agreement as if it were a party hereto, and shall be
deemed to be Holders under this Agreement.

1.9          
Delay of Registration. No Holder shall have any right to take any
action to restrain, enjoin or otherwise delay any registration as the result of
any controversy that might arise with respect to the interpretation or
implementation of this Section 1.

1.10         Time
is of Essence. The Company agrees that time is of the essence of each
of the covenants contained herein and that, in the event of a dispute hereunder,
this Agreement is to be interpreted and construed in a manner that will enable
the Holders to sell their Registrable Securities as quickly as possible. Any
delay on the part of the Company not expressly permitted under this Agreement,
whether material or not, shall be deemed a material breach of this
Agreement.

1.11        
Remedies Upon Default or Delay. The Company acknowledges the breach of
any part of this Agreement may cause irreparable harm to a Holder and that
monetary damages alone may be inadequate. The Company therefore agrees that the
Holder shall be entitled to injunctive relief or such other applicable remedy as
a court of competent jurisdiction may provide. Nothing contained herein will be
construed to limit a Holder’s right to any remedies at law, including recovery
of damages for breach of any part of this Agreement.

2.            
COVENANTS OF THE COMPANY.

The Company hereby covenants and agrees, so long as any Holder
owns any Registrable Securities, as follows:

2.1           Maintain
Listing. The Company covenants that, once it has registered the
Registrable Securities under the Securities Act, it shall maintain the listing
or quotation of such securities on each stock exchange or quotation on which
such securities are, or subsequently become, listed.

3.            
SECTION 3. LIQUIDATED DAMAGES

3.1           Filing
Default. If the Registration Statement is not filed on or prior to 30
days after Closing (the “Filing Deadline Date”), any such failure or
breach being referred to as a “Filing Default” and the date on which such event
occurs (the “Filing Default Date”), then in addition to any other rights
available to the Holders on such Filing Default Date, the Company shall pay to
each Holder an amount in cash, as partial liquidated damages and not as a
penalty, equal to 2% of the product of (i) the subscription price, and (ii) the
number of Unit Shares held by such Holder as of the Filing Default Date that are
Registrable Securities (which remedy shall not be exclusive of any other
remedies available under this Agreement).

3.2          
  Effectiveness Default. If the Registration Statement is not declared
  effective by the Commission or otherwise becomes effective on or prior to 120
  days after Closing (the “Effectiveness Deadline Date”) any
  such failure or breach being referred to as a “Effectiveness Default”
  and the date on which such event occurs, the “Effectiveness Default Date”,
  then in addition to any other rights available to the Holders: (a) on such Effectiveness
  Default Date, the Company shall pay to each Holder an amount in cash, as partial
  liquidated damages and not as a penalty, equal to 1% of the product of (i) the
  subscription price, and (ii) the number of Unit Shares held by such Holder as
  of the Effectiveness Default Date that are Registrable Securities (such product,
  the “Holder’s Subscription Amount”) (which remedy shall
  not be exclusive of any other remedies available under this Agreement); and
  (a) on each 30 day anniversary of each such Effectiveness Default Date thereof
  (if the applicable default shall not have been cured by such date) until the
  applicable Effectiveness Default is cured, the Company shall pay to each Holder
  an amount in cash, as partial liquidated damages and not as a penalty, equal
  to 1% of the Holder’s Subscription Amount.

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3.3           Unauthorized
  Suspension. If after its effective date the Registration Statement
  ceases for any reason (including without limitation by reason of a stop order,
  or the Company’s failure to update the Registration Statement), but excluding
  the inability of any Holder to sell the Registrable Securities covered thereby
  due to market conditions, to be effective and available to the Holders as to
  all Registrable Securities to which it is required to cover at any time prior
  to the expiration of the Effectiveness Period for more than an aggregate of
  30 trading days in any 12-month period (which need not be consecutive) (an “Unauthorized
  Suspension”), the date which such 30 trading day period is exceeded,
  being referred to as “Event Date”), then in addition to any other
  rights available to the Holders: (x) on such Unauthorized Suspension, the Company
  shall pay to each Holder an amount in cash, as partial liquidated damages and
  not as a penalty, equal to 1% of the product of (A) the subscription price,
  and (B) the number of Unit Shares held by such Holder as of the date of the
  Unauthorized Suspension that are Registrable Securities which are not eligible
  to be sold in the market by the Holder under Rule 144 (such product, the “Holder’s
  Amount”) (which remedy shall not be exclusive of any other remedies
  available under this Agreement); and (y) on each 30 day anniversary of each
  such Unauthorized Suspension thereof (if the applicable default shall not have
  been cured by such date) until the applicable Unauthorized Suspension is cured,
  the Company shall pay to each Holder an amount in cash, as partial liquidated
  damages and not as a penalty, equal to 1% of the Holder’s Amount.

3.4           Failure
to Pay. If the Company fails to pay any partial liquidated damages
pursuant to this Section 3 in full within seven days after the date payable, the
Company will pay interest thereon at the prime rate as published by the Bank of
Canada plus 2% calculated at the time of a failure to pay liquidated damages to
the Holder pursuant to this Section 3, accruing daily from the date such partial
liquidated damages are due until such amounts, plus all such interest thereon,
are paid in full. The partial liquidated damages pursuant to the terms hereof
shall apply on a pro-rata basis for any portion of a month prior to the cure of
a default set forth in this Section 3.

3.5           Maximum
Payable. Notwithstanding anything else in this Agreement, the maximum
payable by the Company to any Holder is a maximum of 10% of the Holder’s
Subscription Amount as liquidated damages under this Section 3.

4.            
MISCELLANEOUS.

4.1          
Governing Law. This Agreement shall be governed by and be construed in
accordance with the laws of the State of Delaware and the laws of the United
States applicable therein.

4.2           Third
Party Beneficiaries. Each Holder (other than the Agents) shall be a
beneficiary of this Agreement and entitled to all of the rights and benefits of
this Agreement as if such Holder was a party and signatory to this Agreement and
shall, for all purposes, be deemed a Holder under this Agreement. If the Company
shall so request, each Holder (other than the Agents) shall agree in writing to
be subject to all of the terms hereof.

4.3          
Successors and Assigns. Except as otherwise expressly provided herein,
the provisions hereof shall inure to the benefit of, and be binding upon, the
successors, assigns, heirs, executors and administrators of the parties
hereto.

- 8 -

4.4           Entire
Agreement; Amendment; Waiver. This Agreement (including the Exhibit
hereto) constitutes the full and entire understanding and agreement between the
parties with regard to the subjects hereof. Neither this Agreement nor any term
hereof may be amended, waived, discharged or terminated, except by a written
instrument signed by the Company and the holders of at least 50% of the
Registrable Securities (including, in all instances, the Agents) and any such
amendment, waiver, discharge or termination shall be binding on all the Holders,
but in no event shall the obligation of any Holder hereunder be materially
increased, except upon the written consent of such Holder. This Agreement may be
amended to add additional stockholders as parties hereto with the consent of the
Company and the Agents.

4.5           Notices,
etc. All notices and other communications required or permitted
hereunder shall be in writing and shall be mailed by first-class mail, postage
prepaid, sent by facsimile or delivered personally by hand or nationally
recognized courier addressed (a) if to a Holder, as indicated on the list of
Holders attached hereto as Exhibit “A”, or at such other address or facsimile
number as such holder or permitted assignee shall have furnished to the Company
in writing, or (b) if to the Company, at such address or facsimile number as the
Company shall have furnished to each Holder in writing. All such notices and
other written communications shall be effective on the date of mailing,
confirmed facsimile transfer or delivery.

4.6           Delays
or Omissions. No delay or omission to exercise any right, power or
remedy accruing to any Holder, upon any breach or default of the Company under
this Agreement shall impair any such right, power or remedy of such Holder nor
shall it be construed to be a waiver of any such breach or default, or an
acquiescence therein, or of or in any similar breach or default thereafter
occurring; nor shall any waiver of any single breach or default be deemed a
waiver of any other breach or default therefore or thereafter occurring. Any
waiver, permit, consent or approval of any kind or character on the part of any
Holder of any breach or default under this Agreement or any waiver on the part
of any Holder of any provisions or conditions of this Agreement must be made in
writing and shall be effective only to the extent specifically set forth in such
writing. All remedies, either under this Agreement or by law or otherwise
afforded to any Holder, shall be cumulative and not alternative.

4.7           Rights;
Severability. Unless otherwise expressly provided herein, a Holder’s
rights hereunder are several rights, not rights jointly held with any of the
other Holders. In case any provision of the Agreement shall be invalid, illegal
or unenforceable, the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby.

4.8           Information
Confidential. Each Holder acknowledges that the information received by
them pursuant hereto may be confidential and for its use only, and it will not
use such confidential information in violation of the Exchange Act or reproduce,
disclose or disseminate such information to any other person (other than its
employees or agents having a need to know the contents of such information, and
its attorneys), except in connection with the exercise of rights under this
Agreement, unless the Company has made such information available to the public
generally or such Holder is required to disclose such information by a
governmental body.

4.9           Titles
and Subtitles. The titles of the paragraphs and subparagraphs of this
Agreement are for convenience of reference only and are not to be considered in
construing or interpreting this Agreement.

4.10         Counterparts.
This Agreement may be executed in any number of counterparts, each of
which shall be an original, but all of which together shall constitute one
instrument.

[The remainder of this page is intentionally left
blank.]

- 9 -

     IN WITNESS WHEREOF, the parties
hereto have executed this Registration Rights Agreement effective as of the day
and year first above written.

	 	INTELGENX TECHNOLOGIES CORP.
    
	 	  	 
	 	  	 
	 	Per: 	 
	 		Authorized Signing
    Officer  

- 10 -

[SIGNATURE PAGE OF PURCHASERS]

	Name of Holder: 	 	 
	 	 	 
	 	 	 
	Signature of Authorized Signatory of Holder: 	 	 
	 	 	 
	 	 	 
	Name of Authorized Signatory: 	 	 
	 	 	 
	 	 	 
	Title of Authorized Signatory: 	 	 

[SIGNATURE PAGES CONTINUE]

- 11 -

EXHIBIT “A”

LIST OF HOLDERS

(see attached)

 

 

- 12 -

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