Document:

Exhibit
10.1

 

 

 

 

 

 

 

 

 

 

MYFIZIQ
LIMITED

ACN 602 111 115

(Company)

 

and

 

ASIA
CORNERSTONE ASSET MANAGEMENT LIMITED

(Investor)

 

 

 

 

 

 

SUBSCRIPTION
AGREEMENT

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

THIS
SUBSCRIPTION AGREEMENT is made the 11th day of February 2019

 

 

B
E T W E E N

 

 

MYFIZIQ
LIMITED (ACN 602 111 115) of Suite 5, 71-73 South Perth Esplanade, South Perth, WA, 6151 (Company);

 

AND

 

ASIA
CORNERSTONE ASSET MANAGEMENT LIMITED, a company incorporated in Hong Kong of Unit 1914, 19th Floor, Miramar Tower, 132 Nathan Road,
Tsim Sha Tsui, Kowloon, Hong Kong (Investor).

 

 

R
E C I T A L S

 

 

		A.	The
                                            Company is a public company limited by shares and listed on the ASX.

 

		B.	Pursuant
                                            to the Binding Terms Sheet between the Parties dated 29 January 2019, the Investor has agreed
                                            to subscribe for the Subscription Shares at the Subscription Price and the Company has agreed
                                            to issue the Subscription Shares to the Investor (or its nominees).

 

		C.	The
                                            Parties have agreed to enter into this agreement to record the terms of the Subscription.

 

IT
IS AGREED as follows:

 

 

		1.	INTERPRETATION

 

		1.1	Definitions

 

In
this agreement:

 

Application
Form means the application form set out in Schedule 1.

 

Applicable
Law means the constitution of the Company, the Corporations Act, the Listing Rules, the ASX Settlement Operating Rules, any regulatory
guides published by ASIC and all other applicable laws and regulations in any jurisdiction.

 

ASIC
means the Australian Securities and Investments Commission.

 

ASX
means ASX Limited (ABN 98 008 624 691) or the market which it operates.

 

ASX
Settlement Operating Rules means the operating rules of ASX Settlement Pty Ltd (ACN 008 504 532) in its capacity as a CS facility
licensee.

 

Business
Day  means a day on which banks are open for business in Perth, Western Australia, excluding a Saturday or a Sunday or a public holiday.

 

Company
Warranties  means the representations and warranties given by the Company to the Investor pursuant to clause 4.1.

 

    
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Confidential
                                            Information  means all confidential, non-public or proprietary information regardless
                                            of how the information is stored or delivered, exchanged between the Parties before, on or
                                            after the date of this agreement relating to the business, technology or other affairs of
                                            the Party who provides the information, but excludes information which:

 

		(a)	is
                                            in or becomes part of the public domain other than through a breach of this agreement or
                                            an obligation of confidence owed to the Party to whom the information belongs;

 

		(b)	the
                                            recipient of the information can prove was already known to it at the time of disclosure
                                            by the Party to whom the information belongs (unless such knowledge arose from disclosure
                                            of information in breach of an obligation of confidentiality); or

 

		(c)	the
                                            recipient acquires from a source other than the Party to whom the information belongs, where
                                            such source is entitled to disclose it.

 

Corporations
Act means the Corporations Act 2001 (Cth).

 

Duty
 means any transfer, transaction or registration duty or similar charge imposed by any Government Authority and includes any interest,
fine, penalty, charge or other amount imposed in respect of any of them.

 

Encumbrance
means an interest or power:

 

		(a)	reserved
                                            in or over an interest in any share or asset including, but not limited to, any retention
                                            of title; or

 

		(b)	created
                                            or otherwise arising in or over any interest in any share or asset under a bill of sale,
                                            mortgage, charge, lien, pledge, trust or power,

 

by
way of security for the payment of a debt, any other monetary obligation or the performance of any other obligation, and includes, but
is not limited to, any or third party rights or interests and any agreement to grant or create any of the above.

 

Event
of Insolvency means, in relation to a corporation:

 

		(a)	a
                                            receiver, manager, receiver and manager, trustee, administrator or similar officer is appointed
                                            in respect of a person or any material asset of a corporation;

 

		(b)	a
                                            liquidator or provisional or interim liquidator is appointed in respect of a corporation;

 

		(c)	any
                                            application (not being an application withdrawn or dismissed within 7 days) is made to a
                                            court for an order, or an order is made, or a meeting is convened, or a resolution is passed,
                                            for the purpose of:

 

		(i)	appointing
                                            a person referred to in paragraphs (a) or (b);

 

		(ii)	winding
                                            up the relevant corporation; or

 

		(iii)	proposing
                                            or implementing a compromise with creditors (including a scheme of arrangement, other than
                                            to carry out a reconstruction or amalgamation while solvent);

 

		(d)	a
                                            final order, judgment or award is made against the corporation which it fails to satisfy
                                            within 7 days of being required to do so;

 

    
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		(e)	the
                                            corporation becomes, or admits in writing that it is, is declared to be, or is deemed under
                                            any Applicable Law to be, insolvent or unable to pay its debts; or

 

		(f)	anything
                                            analogous or having a substantially similar effect occurring in relation to a Group member.

 

Excluded
Information  means information which would be required to be disclosed as “excluded information” under subsection 708A(6)
(e).

 

Government
Authority  means a government or government department, a governmental or semi-governmental or judicial person (whether autonomous
or not) charged with the administration of any applicable law.

 

Group
 means in relation to either Party, entities directly or indirectly controlling, controlled by, or in common control with, that party
and any Related Body Corporate of that Party.

 

Indemnified
Losses means, in relation to any fact, matter or circumstance, all losses, costs, damages, expenses and other liabilities arising
out of or in connection with that fact, matter or circumstance, including all reasonable legal and other professional expenses on a solicitor-client
basis incurred in connection with investigating, disputing, defending or settling any claim, action, demand or proceeding relating to
that fact, matter or circumstance (including any claim, action, demand or proceeding based on the terms of this agreement).

 

Investor
Shareholding means, at any time, the total of all Shares held in the Company by the Investor (including its Group) at that time.

 

Investor
Warranties  means the representations and warranties given by the Investor to the Company pursuant to clause 4.2.

 

Listing
Rules means the listing rules of ASX.

 

Official
Quotation means official quotation on ASX.

 

Party
means a party to this agreement and Parties means all of them.

 

Related
Body Corporate  has the meaning given that expression in the Corporations Act.

 

Share
means an ordinary fully paid share in the capital of the Company.

 

Shareholder
 means, at any time, is the registered holder of a Share.

 

Subscription
means the subscription by the Investor (or its nominees) for the Subscription Shares under this agreement.

 

Subscription
Date  means the relevant date for the issue of each Tranche as set out in clause 2.1, or such other date as may be mutually agreed
between the Parties.

 

Subscription
Price means $0.60 per Subscription Share.

 

Subscription
Shares means a total of 10,000,000 Shares, to be paid for and issued to the Investor in accordance with the terms and conditions
of this agreement.

 

    
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Tranches
has the meaning given to that term in clause 2.1 and Tranche means any one of those Tranches as the context requires.

 

		1.2	Interpretation

 

In
this agreement unless the context otherwise requires:

 

		(a)	headings
                                            are for convenience only and do not affect its interpretation;

 

		(b)	an
                                            obligation or liability assumed by, or a right conferred on, two or more Parties binds or
                                            benefits all of them jointly and each of them severally;

 

		(c)	the
                                            expression person includes an individual, the estate of an individual, a corporation, an
                                            authority, an association or joint venture (whether incorporated or unincorporated), a partnership
                                            and a trust;

 

		(d)	a
                                            reference to any party includes that party’s executors, administrators, successors
                                            and permitted assigns, including any person taking by way of novation;

 

		(e)	a
                                            reference to any document (including this agreement) is to that document as varied, novated,
                                            ratified or replaced from time to time;

 

		(f)	a
                                            reference to any statute or to any statutory provision includes any statutory modification
                                            or re-enactment of it or any statutory provision substituted for it, and all ordinances,
                                            by-laws, regulations, rules and statutory instruments (however described) issued under it;

 

		(g)	words
                                            importing the singular include the plural (and vice versa) and words indicating a gender
                                            include every other gender;

 

		(h)	reference
                                            to clauses, schedules, exhibits or annexures are references to clauses, schedules, exhibits
                                            and annexures to or of this agreement and a reference to this agreement includes any schedule,
                                            exhibit or annexure to this agreement;

 

		(i)	where
                                            a word or phrase is given a defined meaning, any other part of speech or grammatical form
                                            of that word or phrase has a corresponding meaning;

 

		(j)	a
                                            reference to time is to Western Standard Time as observed in Perth, Western Australia;

 

		(k)	where
                                            an action is required to be undertaken on a day that is not a Business Day it shall be undertaken
                                            on the next Business Day;

 

		(I)	a
                                            reference to a payment is to a payment by bank cheque or such other form of cleared funds
                                            the recipient otherwise allows in the relevant lawful currency specified;

 

		(m)	“includes”
                                            in any form is not a word of limitation; and

 

		(n)	a
                                            reference to $ or dollar is to Australian currency.

 

    
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		1.3	Knowledge
                                            and awareness of the Company

 

A
reference in this agreement to the Company’s awareness or knowledge (in any grammatical form) will be taken to include all matters,
facts and circumstances of which the Company or any officer or senior executive of the Company is actually aware or should reasonably
have been aware had such persons made due and proper inquiries.

 

 

		2.	SUBSCRIPTION

 

		2.1	Subscription
                                            and issue

 

Subject
to the terms and conditions of this agreement, the Investor agrees to subscribe for, and the Company agrees to allot and issue to the
Investor (or its nominees), the Subscription Shares in the following tranches:

 

		(a)	(Tranche
                                            1): on 25 February 2019, 2,000,000 Subscription Shares to be issued at the Subscription
                                            Price;

 

		(b)	(Tranche
                                            2): on 8 April 2019, 1,666,667 Subscription Shares to be issued at the Subscription Price;

 

		(c)	(Tranche
                                            3): on 20 May 2019, 1,666,667 Subscription Shares to be issued at the Subscription Price;

 

		(d)	(Tranche
                                            4): on 1 July 2019, 1,666,667 Subscription Shares to be issued at the Subscription Price;

 

		(e)	(Tranche
                                            5): on 12 August 2019, 1,666,667 Subscription Shares to be issued at the Subscription
                                            Price; and

 

		(f)	(Tranche
                                            6): on 23 September 2019, 1,333,333 Subscription Shares to be issued at the Subscription
                                            Price,

 

(together,
the Tranches).

 

		2.2	Payment
                                            of Subscription Price

 

On
the relevant Subscription Date of each Tranche, the Investor (or its nominees) must:

 

		(a)	deliver
                                            to the Company the Application Form duly completed and executed by the Investor (or its nominees);

 

		(b)	pay
                                            to the Company the Subscription Price in accordance with clause 2.6; and

 

		(c)	deliver
                                            to the Company written evidence of payment in the form of a confirmation of receipt of payment
                                            from the bank referred to in clause 2.6 of the Subscription Price made under clause 2.2(b),
                                            

 

in
respect of the relevant Tranche.

 

    
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		2.3	Issue
                                            of Subscription Shares

 

Subject
to the Investor (or its nominee(s)) complying with its obligations under clause 2.2, following the receipt by the Company of the Subscription
Price in cleared funds for each relevant Tranche, the Company must immediately:

 

		(a)	allot
                                            and issue the Subscription Shares to the Investor (or its nominee(s));

 

		(b)	enter
                                            the Investor (or its nominee(s)) in the Company’s register of members as the holder
                                            of the Subscription Shares;

 

		(c)	within
                                            two (2) Business Days of the receipt by the Company of the Subscription Price in cleared
                                            funds:

 

		(i)	send
                                            holding statements in respect of the Subscription Shares to the Investor (or its nominee(s))
                                            in accordance with Applicable Law;

 

		(i)	apply
                                            to ASX for official quotation of the Subscription Shares in the same class and on the same
                                            terms as all other Shares quoted on ASX on the relevant Subscription Date; and

 

		(ii)	take
                                            all other steps necessary to give effect to the allotment of the Subscription Shares to the
                                            Investor (or its nominee(s)) in accordance with Applicable Law;

 

		(d)	following
                                            the receipt by the Company of the Subscription Price in cleared funds and issue of the Subscription
                                            Shares, the Company shall lodge with ASX a notice in accordance with section 708A(5) (e)
                                            of the Corporations Act; and

 

		(e)	if
                                            the Company is unable to comply with the requirements of section 708A(5) of the Corporations
                                            Act for any reason, the Company shall, at its own expense, do everything necessary to ensure
                                            the Subscription Shares so allotted are able to be freely traded on ASX in compliance with
                                            the requirements of the ASX Listing Rules and the Corporations Act, including, if considered
                                            necessary by the Investor, lodging a disclosure document with ASIC in accordance with Chapter
                                            6D of the Corporations Act.

 

		2.4	Completion

 

The
Parties acknowledge and agree that:

 

		(a)	completion
                                            of each Subscription does not occur, and shall be taken not to have occurred, unless and
                                            until all of the obligations of the Parties under clauses 2.2, 2.3 and 2.3 have been satisfied
                                            in respect of that Tranche; and

 

		(b)	if
                                            any obligation specified in clauses 2.2, 2.3 and 2.3 is not performed on the due date then,
                                            without prejudice to any other rights of the Parties, any document delivered or payment made
                                            under those clauses must be returned to the Party that delivered such document or paid such
                                            amount.

 

		2.5	Reasonable
                                            endeavours

 

The
Company and the Investor must:

 

		(a)	use
                                            their reasonable endeavours to obtain fulfilment of the requirements under this clause 2
                                            applicable to it; and

 

    
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		(b)	keep
                                            each other informed of any circumstances which may result in any requirement under this clause
                                            2 not being completed or satisfied in accordance with its terms.

 

		2.6	Suspension

 

Should
the Company’s Shares be suspended from Official Quotation for more than 5 consecutive trading days after the date of this agreement,
the Investor may terminate its obligations to subscribe for any future Tranches by notice in writing to the Company.

 

 

		3.	MANNER
                                            OF PAYMENT

 

On
or prior to 4:00 pm on the relevant Subscription Date, the Investor ((or its nominee(s)) must pay the Subscription Price per Subscription
Share for the relevant Tranche in immediately available funds to the account with the following details (or as otherwise directed by
the Company):

 

		Account
                                            Name:

                                            Bank:

                                            BSB:

                                            Account:

                                            Swift Code:	MyFiziq
                                            Limited

                                            National Australia Bank

                                            086 006

                                            744 464 625

                                            NATAAU3302S

 

 

		4.	REPRESENTATIONS
                                            AND WARRANTIES

 

		4.1	Representations
                                            and warranties by Company

 

The
Company represents and warrants to the Investor that, as at the date of this agreement and separately as at the date on which each Tranche
of Subscription Shares are issued to the Investor, except as otherwise fairly disclosed by the Company to the Investor in writing and
countersigned by the Investor prior to the date of this agreement:

 

		(a)	(Registration):
                                             it is a corporation as that expression is defined in the Corporations Act having limited
                                            liability, registered (or taken to be registered) and validly existing under the Corporations
                                            Act;

 

		(b)	(Authority):
                                             it has full power and authority to enter into this agreement and to perform its obligations
                                            under it;

 

		(c)	(Corporate
                                            authorisations):  it has taken all necessary action to authorise the execution, delivery
                                            and performance by it of this agreement in accordance with its terms;

 

		(d)	(Binding
                                            obligations):  this agreement constitutes its legal, valid and binding obligations and
                                            is enforceable in accordance with its terms;

 

		(e)	(Issue
                                            of Subscription Shares):  it has full power and authority and has obtained all third
                                            party consents necessary to allot and issue the Subscription Shares to the Investor in accordance
                                            with Applicable Law;

 

		(f)	(Encumbrances):
                                             the Group has not granted or registered and there is not in existence any Encumbrance
                                            over any assets of the Group;

 

		(g)	(Ranking):
                                             the Subscription Shares will be credited as fully paid and rank pari passu in all respects
                                            with all other Shares on issue;

 

    
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		(h)	(Title
                                            to Subscription Shares):  upon issue of the Subscription Shares, the Investor will acquire
                                            full legal and beneficial title to the Subscription Shares, free and clear of any Encumbrance;

 

		(i)	(No
                                            Event of Insolvency):  no Event of Insolvency has occurred in relation to the Company
                                            or a member of the Group, nor is there any act which has occurred or to the best of its knowledge,
                                            is anticipated to occur which is likely to result in an Event of Insolvency in relation to
                                            the Company or a member of the Group;

 

		(j)	(No
                                            litigation):  the Company and any member of the Group is not a party to any investigation,
                                            prosecution, litigation, legal proceeding, arbitration, mediation or any other form of dispute
                                            resolution, and to the best of its knowledge no such proceedings are pending or threatened
                                            and there is no circumstance or fact that is likely to give rise to any such proceedings;

 

		(k)	(Compliance
                                            with Applicable Law):  the Company and each member of the Group is in compliance in all
                                            material respects with the Applicable Laws; and

 

		(I)	(Subscription
                                            will comply with section 708A of the Corporations Act): subject to the requirements of
                                            section 708A(6)(a), the Company is able to provide, and there is nothing preventing it from
                                            providing, a notice in accordance with section 708A(5) (e) and the offer of the Subscription
                                            Shares will be an offer to which section 708A of the Corporations Act applies.

 

		4.2	Representations
                                            and warranties by Investor

 

The
Investor represents and warrants to the Company that, as at the date of this agreement and separately as at each date on which the Subscription
Shares are issued to the Investor (or its nominees), except as otherwise fairly disclosed by the Investor to the Company in writing prior
to the date of this agreement:

 

		(a)	(Authority):
                                            it has full power and authority to enter into this agreement and to perform its obligations
                                            under it;

 

		(b)	(Binding
                                            obligations):  this agreement constitutes its legal, valid and binding obligations and
                                            is enforceable in accordance with its terms; and

 

		(c)	(No
                                            breach):  this agreement and the Subscription does not conflict with or result in a breach
                                            of any of the Investor’s legal obligations (including any statutory, contractual or
                                            fiduciary obligation) or constitute or result in any default under any provision of its constitution
                                            or any material provision of any agreement, deed, writ, order, injunction, judgment, law,
                                            rule or regulation to which it is a party or is subject or by which it is bound.

 

		4.3	Indemnity
                                            by Company

 

		(a)	The
                                            Company indemnifies the Investor against all Indemnified Losses incurred by the Investor
                                            as a consequence of any matter or thing being found to be in breach of or inconsistent with
                                            the Company Warranties.

 

    
	 8

 

     

    

 

		(b)	The
                                            maximum amount which the Investor may claim against the Company for a breach of the Company
                                            Warranties is 100% of the Subscription Price paid by the Investor at the time of the claim.
                                            A claim for breach of the Company Warranties shall not be made unless the amount of the Indemnified
                                            Losses reasonably claimed exceeds $1,000,000 (in which event, for the avoidance of doubt,
                                            the Company shall be liable for the whole of that amount and not merely the excess).

 

		(c)	The
                                            Company shall not be liable in respect of a claim in connection with a breach of Company
                                            Warranties unless the Investor has given written notice to the Company setting out reasonable
                                            details of the specific matter in respect of which the claim is made within 12 months after
                                            the relevant Subscription Date.

 

		4.4	Indemnity
                                            by Investor

 

		(a)	The
                                            Investor indemnifies the Company against all Indemnified Losses incurred by the Company as
                                            a consequence of any matter or thing being found to be in breach of or inconsistent with
                                            the Investor Warranties.

 

		(b)	The
                                            maximum amount which the Company may claim against the Investor for a breach of the Investor
                                            Warranties is 100% of the Subscription Price that has been paid by the Investor at the time
                                            of the claim. A claim for breach of the Investor Warranties shall not be made unless the
                                            amount of the Indemnified Losses reasonably claimed exceeds $1,000,000 (in which event, for
                                            the avoidance of doubt, the Investor shall be liable for the whole of that amount and not
                                            merely the excess).

 

		(c)	The
                                            Investor shall not be liable in respect of a claim in connection with a breach of Investor
                                            Warranties unless the Company has given written notice to the Investor setting out reasonable
                                            details of the specific matter in respect of which the claim is made within 12 months after
                                            the relevant Subscription Date.

 

 

		5.	CONFIDENTIALITY

 

		5.1	Disclosure
                                            of Confidential Information

 

All
Confidential Information exchanged between the Parties under this agreement or during negotiations preceding this agreement is confidential
to them and may not be disclosed to any person except:

 

		(a)	employees,
                                            directors, officers, legal advisers auditors and other consultants of the Party or any of
                                            its Related Bodies Corporate requiring the information for the purposes of this agreement;

 

		(b)	with
                                            the consent of the Party who supplied the information which consent may be given or withheld
                                            in its absolute discretion;

 

		(c)	if
                                            a Party is required to do so by law or a stock exchange; or

 

		(d)	if
                                            a Party is required to do so in connection with legal proceedings relating to this agreement.

 

    
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		6.	ANNOUNCEMENTS

 

		6.1	Public
                                            announcements

 

Subject
to clause 6.2, no Party may, before or after the relevant Subscription Date, make or send a public announcement, communication or circular
concerning the transactions referred to in this agreement unless it has first obtained the other Party’s written consent. That
consent is not to be unreasonably withheld or delayed and should be completed within 48 hours of signing this agreement.

 

		6.2	Public
                                            announcements required by law

 

Clause
6.1 does not apply to a public announcement, communication or circular required by law or a regulation of a stock exchange, if the Party
(including its Group) required to make or send it has, if practicable, first consulted and taken into account the reasonable requirements
of the other Party.

 

 

		7.	COSTS
                                            AND DUTY

 

		7.1	Costs
                                            and expenses

 

The
Company and the Investor agree to pay their own legal fees and other costs and expenses incurred in connection with the preparation,
negotiation and completion of this agreement and of other related documentation.

 

		7.2	Duty

 

The
Company must pay all Duty chargeable, payable or assessed in relation to this agreement and the issue of the Subscription Shares to the
Investor.

 

 

		8.	NOTICES

 

		8.1	Notices
                                            in writing

 

Each
notice authorised or required to be given to a Party shall be in legible writing and in English addressed to the Party’s address
set out in clause 8.2 (or such other address nominated in accordance with clause 8.3).

 

		8.2	Initial
                                            address of Parties

 

The
initial address of the Parties shall be as follows:

 

	 	Party	 	Address	 	Attention	 	E-mail
		MYFIZIQ
                                            LIMITED
	 	Unit
                                            5, 71-73 South Perth Esplanade,

                                            South Perth,

                                            WA 6151
	 	The
                                            Board of Directors

     
	 	VIado
                                            Bosanac

                                            <vlado@myfiziq.com>

		Asia
                                            Cornerstone Asset Management Limited
	 	Unit
                                            1914, 19th Floor,

    Miramar
    Tower,

    132 Nathan Road,

    Tsim Sha Tsui, Kowloon, Hong Kong
	 	Marcus
                                            Liew
	 	mi@marcusliew.com

 

    
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		8.3	Change
                                            of address

 

Each
Party may from time to time change its address by giving notice pursuant to clause 8.1 to the other Parties.

 

		8.4	Receipt
                                            of notice

 

Any
notice given pursuant to clause 8.1 will be conclusively deemed to have been received:

 

		(a)	in
                                            the case of personal delivery, on the actual day of delivery;

 

		(b)	if
                                            sent by mail, two (2) Business Days from and including the day of posting; or

 

		(c)	if
                                            sent by facsimile, when a facsimile confirmation receipt is received indicating successful
                                            delivery; or

 

		(d)	if
                                            sent by e-mail, when a delivery confirmation report is received by the sender which records
                                            the time that the e-mail was delivered to the addressee’s e-mail address (unless the
                                            sender receives a delivery failure notification indicating that the e-mail has not been delivered
                                            to the addressee),

 

but
if the delivery or receipt is on a day that is not a Business Day or is after 5:00 pm (addressee’s time) it is regarded as received
at 9:00 am on the following Business Day.

 

 

		9.	VARIATION

 

No
modification or alteration of the terms of this agreement shall be binding unless made in writing dated subsequent to the date of this
agreement and duly executed by the Parties.

 

 

		10.	WAIVER

 

		(a)	Waiver
                                            of any right, power, authority discretion or remedy arising upon default under this agreement
                                            must be in writing and signed by the Party granting the waiver.

 

		(b)	A
                                            failure or delay in exercise, or partial exercise, of a right, power, authority, discretion
                                            or remedy created or arising upon default under this agreement, does not result in a waiver
                                            of that right.

 

		(c)	A
                                            Party is not entitled to rely on a delay in the exercise or non-exercise of a right, power,
                                            authority, discretion or remedy arising from a breach of this agreement or on a default under
                                            this agreement as constituting a waiver of that right, power, authority, discretion or remedy.

 

		(d)	A
                                            Party may not rely on any conduct of another Party as a defence to exercise of a right, power,
                                            authority, discretion or remedy by that other Party.

 

 

		11.	FURTHER
                                            ASSURANCE

 

Each
Party shall sign, execute and do all deeds, acts, documents and things as may reasonably be required by the other Party to effectively
carry out and give effect to the terms and intentions of this agreement.

 

    
	 11

 

     

    

 

	EXECUTED BY	)	 	
	ASIA CORNERSTONE ASSET MANAGEMENT	)	 
	LIMITED	)	 
	in accordance with its constituent	)	 
	documents and place of incorporation:	 	 
	 	 	 	 
	/s/ Marcus Liew	 	 	 
	Director	 	 	 
	 	 	 	 
	 	 	 	 
	Director/Secretary	 	 	 

 

    
	 12

 

     

    

 

 

		12.	GOVERNING
                                            LAW AND JURISDICTION

 

This
agreement shall be governed by and construed in accordance with the law from time to time in the State of Western Australia and the Parties
agree to submit to the non-exclusive jurisdiction of the courts of Western Australia and the courts which hear appeals therefrom.

 

 

		13.	TIME
                                            OF ESSENCE

 

Time
is of the essence of this agreement in respect of any date or period determined under this agreement.

 

 

		14.	ENTIRE
                                            AGREEMENT

 

This
agreement shall constitute the sole understanding of the Parties with respect to the subject matter and replaces all other agreements
with respect thereto.

 

 

		15.	COUNTERPARTS

 

This
agreement may be executed in any number of counterparts (including by way of facsimile) each of which shall be deemed for all purposes
to be an original and all such counterparts taken together shall be deemed to constitute one and the same instrument.

 

 

	EXECUTED by the Parties as an
agreement.	 	 	 
	 	 	 	 
	 	 	 	 
	EXECUTED BY MYFIZIQ LIMITED	)	 	 
	ACN 602 111 115	)	 	 
	in accordance with section 127 of the	)	 	 
	Corporations Act 2001 (Cth):	)	 	 
	 	 	 	 
		 	 	 
	Signature of director	 	 	Signature
                                            of director/company secretary

                                            (please delete as applicable)
	 	 	 	 
	Vlado Bosanac	 	 	 
	Chief Executive Office	 	 	Name
                                            of director/company secretary

                                            (please delete as applicable)

 

    
	 13

 

     

    

 

 

S C H E D U L E 1 - A P P L I C A T
I O N F O R M 

 

 

APPLICATION
FORM

 

MYFIZIQ
LIMITED

ACN 602 111 115

(Company)

 

Asia
Cornerstone Asset Management Limited (Investor) hereby applies to the Company for 10,000,000 fully paid ordinary shares in the
capital of the Company (Shares).

 

The
Investor will transfer to the Company an amount of AUD$6,000,000 in Australian dollars and in immediately available funds to the account
nominated by the Company.

 

Details
of the Investor:

 

	Name:	Asia
                                            Cornerstone Asset Management Limited

 

	Address:	Unit
                                            1730, 17F, Silvercord Tower 2, 30 Canton Road,

                                            Tsim Sha Sui, Kowloon, Hong Kong

 

	Contact Person:	Michael
                                            Marcus Liew

 

	Contact Investor:	+65
                                            9657 3468

 

By
signing and lodging this Application Form with the Company, the Investor:

 

		1.	declares
                                            that the agreements, statements, declarations and acknowledgments contained in the following
                                            paragraphs are given for the benefit of the Company;

 

		2.	declares
                                            that all details and statements made by the Investor in this Application Form are complete
                                            and accurate;

 

		3.	agrees
                                            to be bound by the Constitution of the Company;

 

		4.	represents,
                                            warrants and undertakes to the Company that the Investor has/have full right and authority
                                            to sign and lodge this Application Form, to subscribe for the Shares and to perform the other
                                            obligations set out in this Application Form, and has taken all action and obtained all regulatory
                                            and other consents, approvals and authorisations necessary in that respect;

 

		5.	acknowledges
                                            that the Investor have/has made its/their own enquiries concerning the Company and its business
                                            and affairs and that the Company makes no representation or warranties to the Investor other
                                            than set out in the Subscription Agreement dated the same date as this Application Form;

 

		6.	requests
                                            the Company to, upon receipt of this Application Form signed by the Investor, issue the Subscription
                                            Shares to the Investor pursuant to the agreement;

 

    
	 14

 

     

    

 

		7.	declares
                                            that the Investor comes within the definition of a sophisticated investor or a professional
                                            investor for the purposes of Section 708(8) or 708(11) of the Corporations Act 2001 respectively;

 

		8.	acknowledges
                                            that this Application form is irrevocable, subject to the agreement; and

 

		9.	acknowledges
                                            that returning this Application Form with the application monies will constitute the Investor’s
                                            offer to subscribe for Subscription Shares subject to the agreement, and that no notice of
                                            acceptance of this Application Form will be provided.

 

 

NOTE:
Return of the Application Form with your payment of the application monies will constitute your offer to subscribe for the Shares. This
Application Form is for the Subscriber and must not be passed onto any person without written permission from the Company.

 

 

	EXECUTED BY	)	 	
	Asia Cornerstone Asset Management	)	 
	Limited	)	 
	in accordance with its constituent	)	 
	documents and place of incorporation:	 	 
	 	 	 	 
	/s/ Marcus Liew	 	 	 
	Director	 	 	 
	 	 	 	 
	 	 	 	 
	Director/Secretary	 	 	 

 

    
	 15Exhibit
10.2

 

 

4
June 2019

 

Asia
Cornerstone Asset Management Limited

Unit
1914, 19th Floor, Miramar Tower

132
Nathan Road

Tsim
Sha Tsui, Kowloon

HONG
KONG

 

Attention:
Marcus Liew

 

By
email: mi@marcusliew.com

 

Dear
Sirs

 

SUBSCRIPTION
AGREEMENT - VARIATION

 

We
refer to the Subscription Agreement dated 11 February 2019 between MyFiziq Limited (ACN 602 111 115) and Asia Cornerstone Asset Management
Limited (a company incorporated in Hong Kong) (Subscription Agreement).

 

Defined
terms in this variation agreement (Variation Agreement) have the same meaning as given in the Subscription Agreement.

 

By
execution of this Variation Agreement, the Parties agree to vary the Subscription Agreement by:

 

		1.	in
                                            the definition of Subscription Shares in clause 1.1, deleting the number “10,000,000”
                                            and replacing it with the number “8,666,667”; and

 

		2.	deleting
                                            clause 2.1 in its entirety and replacing it with the following:

 

		2.1	Subscription
                                            and issue

 

		(a)	Subject
                                            to the terms and conditions of this agreement, the Investor agrees to subscribe for, and
                                            the Company agrees to allot and issue to the Investor (or its nominees), the Subscription
                                            Shares in the following tranches:

 

		(i)	(Tranche
                                            1): on 25 February 2019, 2,000,000 Subscription Shares to be subscribed at the Subscription
                                            Price;

 

		(ii)	(Tranche
                                            2): on 8 April 2019, 1,666,667 Subscription Shares to be issued at the Subscription Price;

 

		(iii)	(Tranche
                                            3): on 20 May 2019, 833,333 Subscription Shares to be issued at the Subscription Price;

 

		(iv)	(Tranche
                                            3A): on 14 June, 833,333 Subscription Shares to be issued at the Subscription Price;

 

 

 

MyFiziq
                                            Limited

ACN
602 111 115

Postal
Address: PO Box 190, South Perth WA 6951

Email:
admin@myfiziq.com

 

    
	 1

 

     

    

 

		(v)	(Tranche
                                            4): on 1 August 2019, 833,333 Subscription Shares to be issued at the Subscription Price;

 

		(vi)	(Tranche
                                            4A): on 15 September 2019, 833,333 Subscription Shares to be issued at the Subscription Price;

 

		(vii)	(Tranche
                                            5): on 12 November 2019, 833,334 Subscription Shares to be issued at the Subscription Price;
                                            and

 

		(viii)	(Tranche
                                            5A6): on 15 December 2019, 833,334 Subscription Shares to be issued at the Subscription Price,

 

(together,
Tranches).

 

Other
than as varied by this Variation Agreement, the terms and conditions of the Subscription Agreement remain in full force and effect.

 

This
Variation Agreement shall be governed by and construed in accordance with the law from time to time in the State of Western Australia
and the Parties agree to submit to the non-exclusive jurisdiction of the courts of Western Australia and the courts which hear appeals
therefrom.

 

This
Variation Agreement may be executed in any number of counterparts (including by way of facsimile) each of which shall be deemed for all
purposes to be an original and all such counterparts taken together shall be deemed to constitute one and the same instrument.

 

Please
record your agreement to the above variation by executing this Variation Agreement where indicated below.

 

	Yours faithfully	 
		 
	Vlado Bosanac

CEO / Co-Founder, for and on behalf of

MyFiziq Limited	 

 

    
	 2

 

     

    

 

	Executed as a deed.	 	 	 
	 	 	 	 
	EXECUTED AS A DEED BY MYFIZIQ
LIMITED	)	 	 
	ACN 602 111 115	)	 	 
	in accordance with section 127 of the	)	 	 
	Corporations Act 2001 (Cth):	)	 	 
	 	 	 	 
		 	 	 
	Signature of director	 	 	 
	 	 	 	 
	 	 	 	 
	Vlado Bosanac	 	 	 
	Chief Executive Officer	 	 	 
	 	 	 	 
	 	 	 	 
	SIGNED, SEALED AND DELIVERED
BY	 	 	 
	ASIA CORNERSTONE ASSET MANAGEMENT	)	 	 
	LIMITED	)	 	 
	in accordance with its constituent	)	 	 
	documents and place of incorporation:	)	 	 
	 	 	 	 
	/s/ Marcus Liew	 	 	 
	Director	 	 	 

 

    
	 3

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