Document:

Exhibit 10.10

 

 

 

 

 

 

AGREEMENT
AND PLAN OF MERGER AND REORGANIZATION

 

among

 

U.S.
RARE EARTH MINERALS, INC.

 

BIOXY
ACQUISITION CORP.

 

and

 

BIOXYTRAN,
INC.

 

SEPTEMBER
17, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	1	 

     

    

 

AGREEMENT
AND PLAN OF MERGER AND REORGANIZATION

 

AGREEMENT
AND PLAN OF MERGER AND REORGANIZATION (this “Agreement”), dated as of September 17, 2018, by and among U.S. Rare
Earth Minerals, Inc., a Nevada corporation (the “Parent”), BiOxy Acquisition Corp., a Wyoming corporation wholly owned
by Parent (the “Acquisition Subsidiary”), and BioxyTran, Inc., a Delaware corporation (the “Company”).
The Parent, the Acquisition Subsidiary and the Company are each a “Party” and referred to collectively herein as the
“Parties.”

 

WHEREAS,
the Parent is in default of a 6% Senior Unsubordinated Promissory Note, Dated May 23, 2013, together with all interest due there
on (the “Notes”), and, contemporaneously with the closing of the transactions contemplated by this Agreement Parent
is entering into an Accord and Satisfaction with the Holder of the Note (“Settlement Agreement”);

 

WHEREAS,
the execution and closing of the transactions contemplated by this Agreement is a condition precedent to the execution of the
Settlement Agreement by the holder of the Note;

 

WHEREAS,
the Board of Directors of the Parent has determined that entering into the Settlement Agreement is in the best interest of the
Parent, its creditors and stockholders and has approved and adopted the Settlement Agreement and the transactions contemplated
thereby;

 

WHEREAS, the
respective Boards of Directors of the Parent, Company and Acquisition Subsidiary deem it advisable and in the best interests of
the Parent, Company and the Acquisition Subsidiary, respectively, for Acquisition Subsidiary to merge with and into the Company
(the “Merger”) pursuant to this Agreement, and the applicable provisions of the laws of the States of Nevada and Delaware;
and,

 

WHEREAS,
Parent, Acquisition Subsidiary and Company desire that the Merger qualifies as a “plan of reorganization” under Section
368(a) of the Internal Revenue Code of 1986, as amended (the “Code”), and not subject the holders of equity securities
of the Company to tax liability under the Code.

 

NOW,
THEREFORE, in consideration of the representations, warranties and covenants herein contained, and for other good and valuable
consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged, the Parties hereto, intending legally to
be bound, agree as follows:

 

ARTICLE
I

THE
MERGER

 

1.1 The
Merger. Upon and subject to the terms and conditions of this Agreement, the Acquisition Subsidiary shall merge with and into
the Company at the Effective Time (as defined below). From and after the Effective Time, the separate corporate existence of the
Acquisition Subsidiary shall cease and the Company shall continue as the surviving corporation in the Merger (the “Surviving
Corporation”). The “Effective Time” shall be the time at which the Articles of Merger (the “Articles of
Merger”) and other appropriate or required documents prepared and executed in accordance with the relevant provisions of
the Delaware Business Corporation Law (the “DGCA”) and the Wyoming Business Corporations Act (“WBCA) are filed
with the Secretaries of State of the states of Delaware and Wyoming, respectively. The Merger shall have the effects set forth
in the applicable provisions of the WBCA.

 

    	 	2	 

     

    

 

1.2 The
Closing. The closing of the transactions contemplated by this Agreement (the “Closing”) shall take place at the
offices of the Law Office of R.J. Newman P.C. in Westchester, New York or, at such other place as agreed to by the Parties, at
10:00 a.m. local time on September 24, 2018, or, if all of the conditions to the obligations of the Parties to consummate the
transactions contemplated hereby have not been satisfied or waived by such date, on such mutually agreeable later date as soon
as practicable after the satisfaction or waiver of all conditions (excluding the delivery of any documents to be delivered at
the Closing by any of the Parties) set forth in Article V hereof (the “Closing Date”).

 

1.3 Actions
at the Closing. At the Closing:

 

(a) the
Company shall deliver to the Parent and the Acquisition Subsidiary the various certificates, instruments and documents referred
to in Section 5.2;

 

(b) the
Parent and the Acquisition Subsidiary shall deliver to the Company the various certificates, instruments and documents referred
to in Section 5.3;

 

 (c) the
Surviving Corporation shall file the Articles of Merger with the Secretary of State of the State of Nevada;

 

(d) each
of the stockholders of record of the Company immediately prior to the Effective Time (collectively, the “Company Stockholders”)
shall, if requested by the Parent, deliver to the Parent the certificate(s) representing his, her or its Company Shares (as defined
below);

 

(e) the
Parent shall deliver certificates for the Parent Common Stock (as defined below) to each Company Stockholder in accordance with
Section 1.5;

 

(f) all
approvals required by the Financial Industry Regulatory Association (FINRA) have been received

 

(g)
 the current directors and officers of Parent shall submit letters of resignation in
a form acceptable to the Company and the following persons will be appointed as directors of the Parent: Dale Conway, David
Platt, Alan Hoberman, Henry Esber and Anders Utter, which resignations and appointments shall be effective on the 10th
day following the filing of the Schedule 14F-1 with the Securities and Exchange Commission (the “SEC”), except in
the case of David Platt whose appointment to the Board of Directors of the Parent shall be effective immediately upon the Closing;
and

 

(h)
 David Platt shall be appointed as Chairman and Chief Executive Officer and Ola Soderquist
shall be appointed as Chief Financial Officer of the Parent.

 

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1.4 Additional
Actions. If at any time after the Effective Time the Surviving Corporation shall consider or be advised that any deeds, bills
of sale, assignments or assurances or any other acts or things are necessary, desirable or proper (a) to vest, perfect or confirm,
of record or otherwise, in the Surviving Corporation, its right, title or interest in, to or under any of the rights, privileges,
powers, franchises, properties or assets of either the Company or the Acquisition Subsidiary or (b) otherwise to carry out the
purposes of this Agreement, the Surviving Corporation and its proper officers and directors or their designees shall be authorized
(to the fullest extent allowed under applicable law) to execute and deliver, in the name and on behalf of either the Company or
the Acquisition Subsidiary, all such deeds, bills of sale, assignments and assurances and do, in the name and on behalf of the
Company or the Acquisition Subsidiary, all such other acts and things necessary, desirable or proper to vest, perfect or confirm
its right, title or interest in, to or under any of the rights, privileges, powers, franchises, properties or assets of the Company
or the Acquisition Subsidiary, as applicable, and otherwise to carry out the purposes of this Agreement.

 

1.5 Conversion
of Company Securities. At the Effective Time, by virtue of the Merger and without any action on the part of any Party or the
holder of any of the following securities:

 

(a) Each
share of common stock, par value $.001 per share, of the Company (“Company Shares”) issued and outstanding immediately
prior to the Effective Time (other than Company Shares owned beneficially by the Parent or the Acquisition Subsidiary and Dissenting
Shares (as defined below)) shall be converted into and represent the right to receive (subject to the provisions of Section 1.6)
5.1057958 shares of common stock, par value $0.001 per share, of the Parent (“Parent Common Stock”). An aggregate
of 75,586,937 shares of Parent Common Stock shall be issued to the security holders of the Company in connection with the Merger
(the “Merger Shares”).

 

(b) Each
issued and outstanding share of common stock, par value $0.001 per share, of the Acquisition Subsidiary shall be converted into
one validly issued, fully paid and nonassessable share of common stock of the Surviving Corporation.

 

1.6 Dissenting
Shares.

 

(a) For
purposes of this Agreement, “Dissenting Shares” means Company Shares held as of the Effective Time by a Company Stockholder
who has not voted such Company Shares in favor of the adoption of this Agreement and the Merger and with respect to which appraisal
shall have been duly demanded and perfected in accordance with Sections 262 of the DGCA and not effectively withdrawn or forfeited
prior to the Effective Time. Dissenting Shares shall not be converted into or represent the right to receive shares of Parent
Common Stock unless such Company Stockholder’s right to appraisal shall have ceased in accordance with the DGCA. If such
Company Stockholder has so forfeited or withdrawn his, her or its right to appraisal of Dissenting Shares, then, (i) as of the
occurrence of such event, such holder’s Dissenting Shares shall cease to be Dissenting Shares and shall be converted into
and represent the right to receive the Merger Shares issuable in respect of such Company Shares pursuant to Section 1.5, and (ii)
promptly following the occurrence of such event, the Parent shall deliver to such Company Stockholder a certificate representing
the Merger Shares to which such holder is entitled pursuant to Section 1.5.

 

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(b) The
Company shall give the Parent prompt notice of any written demands for appraisal of any Company Shares, withdrawals of such demands,
and any other instruments that relate to such demands received by the Company. The Company shall not, except with the prior written
consent of the Parent, make any payment with respect to any demands for appraisal of Company Shares or offer to settle or settle
any such demands.

 

1.7 Certificate
of Incorporation and Bylaws.

 

(a) The
certificate of incorporation of the Company in effect immediately prior to the Effective Time shall be the certificate of incorporation
of the Surviving Corporation until duly amended or repealed.

 

(b) The
bylaws of the Company in effect immediately prior to the Effective Time shall be the bylaws of the Surviving Corporation until
duly amended or repealed.

 

1.8 No
Further Rights. From and after the Effective Time, no Company Shares shall be deemed to be outstanding, and holders of certificates
that immediately prior to the Effective Time represented Company Shares converted into Merger Shares pursuant to Section 1.5 (“Certificates”)
shall cease to have any rights with respect thereto, except as provided herein or by law.

 

1.9 Closing
of Transfer Books. At the Effective Time, the stock transfer books of the Company shall be closed and no transfer of Company
Shares shall thereafter be made. If, after the Effective Time, Certificates are presented to the Parent or the Surviving Corporation,
they shall be cancelled and exchanged for Merger Shares in accordance with Section 1.5, subject to applicable law in the case
of Dissenting Shares.

 

1.10 Exemption
from Registration. The Parent and the Company intend that the shares of Parent Common Stock to be issued pursuant to Section
1.5 hereof in connection with the Merger, will be issued in a transaction exempt from registration under the Securities Act of
1933, as amended (“Securities Act”), by reason of Section 4(a)(2) of the Securities Act, Rule 506 of Regulation D
promulgated by the SEC thereunder and/or Regulation S promulgated by the SEC.

 

ARTICLE
II

REPRESENTATIONS
AND WARRANTIES OF THE COMPANY

 

The
Company represents and warrants to the Parent that the statements contained in this Article II are true and correct, except as
set forth in the disclosure schedule provided by the Company to the Parent on the date hereof and accepted in writing by the Parent
(the “Disclosure Schedule”). The Disclosure Schedule shall be arranged in paragraphs corresponding to the numbered
and lettered paragraphs contained in this Article II. The inclusion of any item on the Disclosure Schedule shall constitute disclosure
for all purposes under this Agreement and shall not be construed as an indication of the materiality or lack thereof of such item.

 

    	 	5	 

     

    

 

2.1 Organization,
Qualification and Corporate Power. The Company is a corporation duly organized, validly existing and in corporate and tax
good standing under the laws of the State of Delaware. The Company is duly qualified to conduct business and is in corporate and
tax good standing under the laws of each jurisdiction in which the nature of its businesses or the ownership or leasing of its
properties requires such qualification, except where the failure to be so qualified or in good standing, individually or in the
aggregate, has not had and would not reasonably be expected to have a Company Material Adverse Effect (as defined below). The
Company has all requisite corporate power and authority to carry on the businesses in which it is engaged and to own and use the
properties owned and used by it. The Company has furnished or made available to the Parent complete and accurate copies of its
certificate of incorporation and bylaws. The Company is not in default under or in violation of any provision of its certificate
of incorporation, as amended to date, or its bylaws, as amended to date. For purposes of this Agreement, “Company Material
Adverse Effect” means a material adverse effect on the assets, business, financial condition, or results of operations or
future prospects of the Company taken as a whole.

 

2.2 Capitalization.
The authorized capital stock of the Company consists of 95,000,000 shares of common stock and 5,000,000 shares of preferred stock.
As of the date of this Agreement, 15,000,000 Company Shares were issued and outstanding and no preferred shares were issued and
outstanding, and no Company Shares or preferred shares were held in the treasury of the Company. As of the date of this Agreement,
there were no issued and outstanding options or warrants to purchase Company Shares. All of the issued and outstanding shares
of capital stock of the Company, as of the Closing Date, are duly authorized, validly issued, fully paid, non-assessable and free
of preemptive rights. There are no voting trusts or any other agreements or understandings with respect to the voting of the Company’s
capital stock. No other class of capital stock or other security of the Company is authorized, issued, reserved for issuance or
outstanding. There are no authorized or outstanding options, warrants, equity securities, calls, rights, commitments or agreements
of any character by which the Company is obligated to issue, deliver or sell, or cause to be issued, delivered or sold, any shares
of capital stock or other securities of the Company. There are no outstanding contractual obligations (contingent or otherwise)
of the Company to retire, repurchase, redeem or otherwise acquire any outstanding shares of capital stock of, or other ownership
interests in, the Company.

 

2.3 Authorization
of Transaction. The Company has all requisite power and authority to execute and deliver this Agreement and to perform its
obligations hereunder. The execution and delivery by the Company of this Agreement and, subject to the adoption of this Agreement
and the approval of the Merger by no less than a majority of the votes represented by the outstanding Company Shares entitled
to vote on this Agreement and the Merger (the “Stockholder Approval”), the consummation by the Company of the transactions
contemplated hereby have been duly and validly authorized by all necessary corporate action on the part of the Company. Without
limiting the generality of the foregoing, the board of directors of the Company (i) determined that the Merger is fair and in
the best interests of the Company and the Company Stockholders, (ii) adopted this Agreement in accordance with the provisions
of the DGCA, and (iii) directed that this Agreement and the Merger be submitted to the Company Stockholders for their adoption
and approval and resolved to recommend that the Company Stockholders vote in favor of the adoption of this Agreement and the approval
of the Merger. This Agreement has been duly and validly executed and delivered by the Company and constitutes a valid and binding
obligation of the Company, enforceable against the Company in accordance with its terms.

 

    	 	6	 

     

    

 

2.4 Noncontravention.
Subject to receipt of Stockholder Approval and the filing of the Articles of Merger as required by the DGCA and WBCA, neither
the execution and delivery by the Company of this Agreement, nor the consummation by the Company of the transactions contemplated
hereby, will (a) conflict with or violate any provision of the certificate of incorporation or bylaws of the Company, as amended
to date, (b) require on the part of the Company any filing with, or any permit, authorization, consent or approval of, any court,
arbitrational tribunal, administrative agency or commission or other governmental or regulatory authority or agency (a “Governmental
Entity”), except for such permits, authorizations, consents and approvals for which the Company is obligated to use its
Reasonable Best Efforts (as defined below) to obtain pursuant to Section 4.2(a), (c) conflict with, result in a breach of, constitute
(with or without due notice or lapse of time or both) a default under, result in the acceleration of obligations under, create
in any party the right to terminate, modify or cancel, or require any notice, consent or waiver under, any contract or instrument
to which the Company is a party or by which the Company is bound or to which any of its assets is subject, except for (i) any
conflict, breach, default, acceleration, termination, modification or cancellation in any contract or instrument set forth in
Section 2.4 of the Disclosure Schedule, for which the Company is obligated to use its Reasonable Best Efforts to obtain waiver,
consent or approval pursuant to Section 4.2(b), (ii) any conflict, breach, default, acceleration, termination, modification or
cancellation which would not have a Company Material Adverse Effect and would not adversely affect the consummation of the transactions
contemplated hereby or (iii) any notice, consent or waiver the absence of which would not have a Company Material Adverse Effect
and would not adversely affect the consummation of the transactions contemplated hereby, or (d) violate any order, writ, injunction,
decree, statute, rule or regulation applicable to the Company or any of its properties or assets.

 

2.5 Subsidiaries.
The Company has no Company Subsidiaries. For purposes of this Agreement, a “Subsidiary” shall mean any corporation,
partnership, joint venture or other entity in which a Party has, directly or indirectly, an equity interest representing 50% or
more of the equity securities thereof or other equity interests therein.

 

2.6 Financial
Statements. The Company has provided or made available to the Parent the unaudited but reviewed balance sheets of the Company
at December 31, 2017 and June 30, 2018 and the related statements of operations and cash flows (collectively, the “Company
Financial Statements”). The Company Financial Statements have been prepared in accordance with United States generally accepted
accounting principles (“GAAP”) applied on a consistent basis throughout the periods covered thereby, fairly present
in all material respects the financial condition, results of operations and cash flows of the Company as of the respective dates
thereof and for the periods referred to therein, are able to comply as to form with the applicable rules and regulations of the
SEC for inclusion of such Company Financial Statements in the Parent’s filings with the SEC as required by the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), and are consistent in all material respects with the books
and records of the Company.

 

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2.7 Absence
of Certain Changes. Since June 30, 2018 (the “Company Balance Sheet Date”), (a) to the knowledge of the Company,
there has not occurred any event or development which, individually or in the aggregate, has had, or could reasonably be expected
to have in the future, a Company Material Adverse Effect, and (b)  the Company has not taken any of the actions set forth
in paragraphs (a) through (l) of Section 4.4.

 

2.8 Undisclosed
Liabilities. The Company does not have any liability (whether known or unknown, whether absolute or contingent, whether liquidated
or unliquidated and whether due or to become due), except for (a) liabilities shown in the Company Financial Statements referred
to in Section 2.6, (b) liabilities which have arisen since the Company Balance Sheet Date in the ordinary course of business and
(c) contractual and other liabilities incurred in the ordinary course of business which are not required by GAAP to be reflected
on a balance sheet.

 

2.9 Tax
Matters.

 

(a) For
purposes of this Agreement, the following terms shall have the following meanings:

 

(i) “Taxes”
means all taxes, charges, fees, levies or other similar assessments or liabilities, including without limitation income, gross
receipts, ad valorem, premium, value-added, excise, real property, personal property, sales, use, transfer, withholding, employment,
unemployment insurance, social security, business license, business organization, environmental, workers compensation, payroll,
profits, license, lease, service, service use, severance, stamp, occupation, windfall profits, customs, duties, franchise and
other taxes imposed by the United States of America or any state, local or foreign government, or any agency thereof, or other
political subdivision of the United States or any such government, and any interest, fines, penalties, assessments or additions
to tax resulting from, attributable to or incurred in connection with any tax or any contest or dispute thereof.

 

(ii) “Tax
Returns” means all reports, returns, declarations, statements or other information required to be supplied to a taxing authority
in connection with the Taxes.

 

(b) Except
for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect,
the Company has filed all necessary Tax Returns and has paid or accrued all Taxes shown as due thereon, and the Company has no
knowledge of a tax deficiency which has been asserted or threatened against the Company.

 

    	 	8	 

     

    

 

2.10 Assets.
The Company owns or leases all tangible assets reasonably necessary for the conduct of its businesses as presently conducted and
as presently proposed to be conducted. Each such tangible asset is free from material defects, has been maintained in accordance
with normal industry practice, is in good operating condition and repair (subject to normal wear and tear) and is suitable for
the purposes for which it presently is used. No asset of the Company (tangible or intangible) is subject to any security interest.

 

2.11 Owned
Real Property. The Company does not own any real property.

 

2.12 Real
Property Leases. Section 2.12 of the Disclosure Schedule lists all real property leased or subleased to or by the Company
and lists the term of such lease, any extension and expansion options, and the rent payable thereunder. The Company has delivered
or made available to the Parent complete and accurate copies of the leases and subleases listed in Section 2.12 of the Disclosure
Schedule. With respect to each lease and sublease listed in Section 2.12 of the Disclosure Schedule:

 

(a) the
lease or sublease is legal, valid, binding, enforceable and in full force and effect;

 

(b) the
lease or sublease will continue to be legal, valid, binding, enforceable and in full force and effect immediately following the
Closing in accordance with the terms thereof as in effect immediately prior to the Closing;

 

(c) neither
the Company nor, to the knowledge of the Company, any other party is in breach or violation of, or default under, any such lease
or sublease, and no event has occurred, is pending or, to the knowledge of the Company, is threatened, which, after the giving
of notice, with lapse of time or otherwise, would constitute a breach or default by the Company or, to the knowledge of the Company,
any other party under such lease or sublease;

 

(d) the
Company has not assigned, transferred, conveyed, mortgaged, deeded in trust or encumbered any interest in the leasehold or subleasehold;
and

 

(e) to
the knowledge of the Company, there is no security interest, easement, covenant or other restriction applicable to the real property
subject to such lease, except for recorded easements, covenants and other restrictions which do not materially impair the current
uses or the occupancy by the Company of the property subject thereto.

 

2.13 Contracts.

 

(a) Section
2.13 of the Disclosure Schedule lists the following agreements (written or oral) to which the Company is a party as of the date
of this Agreement:

 

(i) any
agreement (or group of related agreements) for the lease of personal property from or to third parties providing for lease payments
in excess of $25,000 per annum or having a remaining term longer than 12 months;

 

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(ii) any
agreement (or group of related agreements) for the purchase or sale of products or for the furnishing or receipt of services (A)
which calls for performance over a period of more than one year, (B) which involves more than the sum of $25,000, or (C) in which
the Company has granted manufacturing rights, “most favored nation” pricing provisions or exclusive marketing or distribution
rights relating to any products or territory or has agreed to purchase a minimum quantity of goods or services or has agreed to
purchase goods or services exclusively from a certain party;

 

(iii) any
agreement which, to the knowledge of the Company, establishes a partnership or joint venture;

 

(iv) any
agreement (or group of related agreements) under which it has created, incurred, assumed or guaranteed (or may create, incur,
assume or guarantee) indebtedness (including capitalized lease obligations) involving more than $25,000 or under which it has
imposed (or may impose) a security interest on any of its assets, tangible or intangible;

 

(v) any
agreement concerning confidentiality or noncompetition;

 

(vi) any
employment or consulting agreement;

 

(vii) any
agreement involving any officer, director or stockholder of the Company or any affiliate (as defined in Rule 12b-2 under the Exchange
Act) thereof (an “Affiliate”);

 

(viii) any
agreement or commitment for capital expenditures in excess of $25,000, for a single project (it being represented and warranted
that the liability under all undisclosed agreements and commitments for capital expenditures does not exceed $100,000 in the aggregate
for all projects);

 

(ix) any
agreement under which the consequences of a default or termination would reasonably be expected to have a Company Material Adverse
Effect;

 

(x) any
agreement which contains any provisions requiring the Company to indemnify any other party thereto (excluding indemnities contained
in agreements for the purchase, sale or license of products entered into in the ordinary course of business);

 

(xi) any
other agreement (or group of related agreements) either involving more than $25,000 or not entered into in the ordinary course
of business; and

 

(xii) any
agreement, other than as contemplated by this Agreement, relating to the sales of securities of the Company to which the Company
is a party.

 

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(b) The
Company has delivered or made available to the Parent a complete and accurate copy of each agreement listed in Section 2.13 of
the Disclosure Schedule. With respect to each agreement so listed, and except as set forth in Section 2.13 of the Disclosure Schedule:
(i) the agreement is legal, valid, binding and enforceable and in full force and effect; (ii) the agreement will continue to be
legal, valid, binding and enforceable and in full force and effect immediately following the Closing in accordance with the terms
thereof as in effect immediately prior to the Closing; and (iii) neither the Company nor, to the knowledge of the Company, any
other party, is in breach or violation of, or default under, any such agreement, and no event has occurred, is pending or, to
the knowledge of the Company, is threatened, which, after the giving of notice, with lapse of time or otherwise, would constitute
a material breach or default by the Company or, to the knowledge of the Company, any other party under such contract.

 

2.14 Litigation.
As of the date of this Agreement, there is no action, suit, proceeding, claim, arbitration or investigation before any Governmental
Entity or before any arbitrator (a “Legal Proceeding”) which is pending or has been threatened in a writing received
by the Company against the Company which (a) seeks either damages in excess of $10,000 individually, or $25,000 in the aggregate,
or (b) if determined adversely to the Company, could have, individually or in the aggregate, a Company Material Adverse Effect.

 

2.15 Legal
Compliance. The Company, and the conduct and operations of its business, is in compliance with each applicable law (including
rules and regulations thereunder) of any federal, state, local or foreign government, or any Governmental Entity, except for any
violations or defaults that, individually or in the aggregate, have not had and would not reasonably be expected to have a Company
Material Adverse Effect.

 

2.16 Permits.
Section 2.16 of the Disclosure Schedule sets forth a list of all material permits, licenses, registrations, certificates, orders
or approvals from any Governmental Entity (including without limitation those issued or required under environmental laws and
those relating to the occupancy or use of owned or leased real property) (“Permits”) issued to or held by the Company.
Such listed Permits are the only material Permits that are required for the Company to conduct its business as presently conducted
except for those the absence of which, individually or in the aggregate, have not had and would not reasonably be expected to
have a Company Material Adverse Effect. Each such Permit is in full force and effect and, to the knowledge of the Company, no
suspension or cancellation of such Permit is threatened and, to the knowledge of the Company, there is no reasonable basis for
believing that such Permit will not be renewable upon expiration. Each such Permit, to the knowledge of the Company, will continue
in full force and effect immediately following the Closing.

 

2.17 Certain
Business Relationships with Affiliates. Except as listed in Section 2.17 of the Disclosure Schedule, no Affiliate of the Company
(a) owns any material property or right, tangible or intangible, which is used in the business of the Company, (b) has any claim
or cause of action against the Company, or (c) owes any money to, or is owed any money by, the Company. Section 2.17 of the Disclosure
Schedule describes any transactions involving the receipt or payment in excess of $25,000 in any fiscal year between the Company
and any Affiliate of the Company thereof which have occurred or existed since the Company’s inception, other than employment
agreements.

 

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2.18 Brokers’
Fees. The Company does not have any liability or obligation to pay any fees or commissions to any broker, finder or agent
with respect to the transactions contemplated by this Agreement.

 

2.19 Books
and Records. The minute books and other similar records of the Company contain complete and accurate records in all material
respects of all actions taken at any meetings of the Company’s stockholders, board of directors or any committees thereof
and of all written consents executed in lieu of the holding of any such meetings.

 

2.20 Intellectual
Property.

 

(a) The
Company owns, is licensed or otherwise possesses legally enforceable rights to use, license and exploit all issued patents, copyrights,
trademarks, service marks, trade names, trade secrets, and registered domain names and all applications for registration therefor
(collectively, the “Intellectual Property Rights”) and all computer programs and other computer software, databases,
know-how, proprietary technology, formulae, and development tools, together with all goodwill related to any of the foregoing
(collectively, the “Intellectual Property”), in each case as is necessary to conduct their respective businesses as
presently conducted, the absence of which would be considered reasonably likely to result in a Company Material Adverse Effect.

 

(b) Section
2.20(b) of the Disclosure Schedule sets forth, with respect to all issued patents and all registered copyrights, trademarks, service
marks and domain names registered with any Governmental Entity by the Company or for which an application for registration has
been filed with any Governmental Entity by the Company, (i) the registration or application number, the date filed and the title,
if applicable, of the registration or application and (ii) the names of the jurisdictions covered by the applicable registration
or application. Section 2.20(b) of the Disclosure Schedule identifies each agreement currently in effect containing any ongoing
royalty or payment obligations of the Company in excess of $25,000 per annum with respect to Intellectual Property Rights and
Intellectual Property that are licensed or otherwise made available to the Company.

 

(c) Except
as set forth on Section 2.20(c) of the Disclosure Schedule, all Intellectual Property Rights of the Company that have been registered
with any Governmental Entity are valid and subsisting, except as would not reasonably be expected to have a Company Material Adverse
Effect. As of the Effective Date, in connection with such registered Intellectual Property Rights, all necessary registration,
maintenance and renewal fees will have been paid and all necessary documents and certificates will have been filed with the relevant
Governmental Entities.

 

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(d) The
Company is not, and will not as a result of the consummation of the Merger or other transactions contemplated by this Agreement
be, in breach in any material respect of any license, sublicense or other agreement relating to the Intellectual Property Rights
of the Company, or any licenses, sublicenses or other agreements as to which the Company is a party and pursuant to which the
Company uses any patents, copyrights (including software), trademarks or other intellectual property rights of or owned by third
parties (the “Third Party Intellectual Property Rights”), the breach of which would be reasonably likely to result
in a Company Material Adverse Effect.

 

(e) The
Company has not been named as a defendant in any suit, action or proceeding which involves a claim of infringement or misappropriation
of any Third Party Intellectual Property Right and the Company has not received any written notice of any actual or alleged infringement,
misappropriation or unlawful or unauthorized use of any Third Party Intellectual Property Right. With respect to its product candidates
and products in research or development, after the same are marketed, the Company will not, to its knowledge, infringe any Third
Party Intellectual Property Rights in any material manner.

 

(f) To
the knowledge of the Company no other person is infringing, misappropriating or making any unlawful or unauthorized use of any
Intellectual Property Rights of the Company in a manner that has a material impact on the business of the Company, except for
such infringement, misappropriation or unlawful or unauthorized use as would not be reasonably expected to have a Company Material
Adverse Effect.

 

2.21 Disclosure.
No representation or warranty by the Company contained in this Agreement, and no statement contained in the Disclosure Schedule
or any other document, certificate or other instrument delivered or to be delivered by or on behalf of the Company pursuant to
this Agreement, contains or will contain any untrue statement of a material fact or omits or will omit to state any material fact
necessary, in light of the circumstances under which it was or will be made, in order to make the statements herein or therein
not misleading. The Company has disclosed to the Parent all material information relating to the business of the Company or the
transactions contemplated by this Agreement.

 

2.22 Duty
to Make Inquiry. To the extent that any of the representations or warranties in this Article II are qualified by “knowledge”
or “belief,” the Company represents and warrants that it has made due and reasonable inquiry and investigation concerning
the matters to which such representations and warranties relate, including, but not limited to, diligent inquiry by its directors,
officers and key personnel.

 

ARTICLE
III

REPRESENTATIONS
AND WARRANTIES OF THE PARENT

AND
THE ACQUISITION SUBSIDIARY

 

Each
of the Parent and the Acquisition Subsidiary represents and warrants to the Company that the statements contained in this Article
III are true and correct, except as set forth in the disclosure schedule provided by the Parent and the Acquisition Subsidiary
to the Company on the date hereof and accepted in writing by the Company (the “Parent Disclosure Schedule”). The Parent
Disclosure Schedule shall be arranged in paragraphs corresponding to the numbered and lettered paragraphs contained in this Article
III. The inclusion of any item on the Disclosure Schedule shall constitute disclosure for all purposes under this Agreement and
shall not be construed as an indication of the materiality or lack thereof of such item.

 

    	 	13	 

     

    

 

3.1 Organization,
Qualification and Corporate Power. The Parent and the Acquisition Subsidiary are each a corporation duly organized, validly
existing and in good standing under the laws of the State of Nevada. The Parent is duly qualified to conduct business and is in
corporate and tax good standing under the laws of each jurisdiction in which the nature of its businesses or the ownership or
leasing of its properties requires such qualification, except where the failure to be so qualified or in good standing would not
have a Parent Material Adverse Effect (as defined below). The Parent has all requisite corporate power and authority to carry
on the businesses in which it is engaged and to own and use the properties owned and used by it. The Parent has furnished or made
available to the Company complete and accurate copies of its certificate of incorporation and bylaws. Neither the Parent nor the
Acquisition Subsidiary is in default under or in violation of any provision of its certificate of incorporation, as amended to
date, or its bylaws, as amended to date. For purposes of this Agreement, “Parent Material Adverse Effect” means a
material adverse effect on the assets, business, condition (financial or otherwise), or results of operations of the Parent and
its subsidiaries, taken as a whole.

 

3.2 Capitalization.
The authorized capital stock of the Parent consists of 300,000,000 shares of Parent Common Stock, of which 3,771,213 shares are
issued and outstanding as of the date of this Agreement, and 50,000,000 shares of preferred stock, $0.001 par value per share,
of which 14,683 shares are issued and outstanding (“Parent Preferred Stock”). Each share of Parent Preferred Stock
is convertible into 5 shares of Parent Common Stock. The Parent Common Stock is presently eligible for quotation and trading on
the OTC Pink Market run by the OTC Markets, Inc. (the “OTC Pink”) in all 50 states of the United States and is not
subject to any notice of suspension or delisting. The Parent Common Stock is eligible for registration under the Exchange Act.
As of the date of this Agreement, there were no issued and outstanding options or warrants to purchase Parent Common Stock. All
of the issued and outstanding shares of capital stock of the Parent, as of the Closing Date, are duly authorized, validly issued,
fully paid, non-assessable and free of preemptive rights. There are no voting trusts or any other agreements or understandings
with respect to the voting of the Parent’s capital stock. No other class of capital stock or other security of the Parent
is authorized, issued, reserved for issuance or outstanding. There are no authorized or outstanding options, warrants, equity
securities, calls, rights, commitments or agreements of any character by which the Parent is obligated to issue, deliver or sell,
or cause to be issued, delivered or sold, any shares of capital stock or other securities of the Parent. There are no outstanding
contractual obligations (contingent or otherwise) of the Parent to retire, repurchase, redeem or otherwise acquire any outstanding
shares of capital stock of, or other ownership interests in, the Parent. The Merger Shares to be issued at the Closing pursuant
to Section 1.5 hereof, when issued and delivered in accordance with the terms hereof and of the Articles of Merger, shall be duly
and validly issued, fully paid and nonassessable and free of all preemptive rights and will be issued in compliance with applicable
federal and state securities laws. Immediately prior to the Effective Time, there will be 3,771,211 shares of Parent Common Stock
issued and outstanding.

 

    	 	14	 

     

    

 

3.3 Authorization
of Transaction. Each of the Parent and the Acquisition Subsidiary has all requisite power and authority to execute and deliver
this Agreement and to perform its obligations hereunder and thereunder. The execution and delivery by the Parent and the Acquisition
Subsidiary of this Agreement, and the agreements contemplated hereby and thereby (collectively, the “Transaction Documentation”),
and the consummation by the Parent and the Acquisition Subsidiary of the transactions contemplated hereby and thereby have been
duly and validly authorized by all necessary corporate action on the part of the Parent and the Acquisition Subsidiary. Each of
the documents included in the Transaction Documentation has been duly and validly executed and delivered by the Parent or the
Acquisition Subsidiary and constitutes a valid and binding obligation of the Parent or the Acquisition Subsidiary enforceable
against them in accordance with its terms.

 

3.4 Noncontravention.
Subject to the filing of the Articles of Merger as required by the DGCA and WBCA, neither the execution and delivery by the Parent
or the Acquisition Subsidiary, as the case may be, of this Agreement or the Transaction Documentation, nor the consummation by
the Parent or the Acquisition Subsidiary, as the case may be, of the transactions contemplated hereby or thereby, will (a) conflict
with or violate any provision of the certificate of incorporation or bylaws of the Parent or the Acquisition Subsidiary, as the
case may be, (b) require on the part of the Parent or the Acquisition Subsidiary, as the case may be, any filing with, or permit,
authorization, consent or approval of, any Governmental Entity, (c) conflict with, result in breach of, constitute (with or without
due notice or lapse of time or both) a default under, result in the acceleration of obligations under, create in any party any
right to terminate, modify or cancel, or require any notice, consent or waiver under, any contract or instrument to which the
Parent or the Acquisition Subsidiary, as the case may be, is a party or by which either is bound or to which any of their assets
are subject, except for (i) any conflict, breach, default, acceleration, termination, modification or cancellation which would
not have a Parent Material Adverse Effect and would not adversely affect the consummation of the transactions contemplated hereby
or (ii) any notice, consent or waiver the absence of which would not have a Parent Material Adverse Effect and would not adversely
affect the consummation of the transactions contemplated hereby, or (d) violate any order, writ, injunction, decree, statute,
rule or regulation applicable to the Parent or the Acquisition Subsidiary or any of their properties or assets.

 

3.5 Subsidiaries.
The Parent has no Subsidiaries other than the Acquisition Subsidiary. The Acquisition Subsidiary is an entity duly organized,
validly existing and in corporate and tax good standing under the laws of the jurisdiction of its organization. The Acquisition
Subsidiary was formed solely to effectuate the Merger and it has not conducted any business operations since its organization.
The Parent has delivered or made available to the Company complete and accurate copies of the charter, bylaws or other organizational
documents of the Acquisition Subsidiary. The Acquisition Subsidiary has no assets other than minimal paid-in capital, it has no
liabilities or other obligations, and it is not in default under or in violation of any provision of its charter, bylaws or other
organizational documents. All of the issued and outstanding shares of capital stock of the Acquisition Subsidiary are duly authorized,
validly issued, fully paid, nonassessable and free of preemptive rights. All shares of the Acquisition Subsidiary are owned by
the Parent free and clear of any restrictions on transfer (other than restrictions under the Securities Act and state securities
laws), claims, security interests, options, warrants, rights, contracts, calls, commitments, equities and demands. There are no
outstanding or authorized options, warrants, rights, agreements or commitments to which the Parent or the Acquisition Subsidiary
is a party, or which are binding on any of them providing for the issuance, disposition or acquisition of any capital stock of
the Acquisition Subsidiary (except as contemplated by this Agreement). There are no outstanding stock appreciation, phantom stock
or similar rights with respect to the Acquisition Subsidiary. There are no voting trusts, proxies or other agreements or understandings
with respect to the voting of any capital stock of the Acquisition Subsidiary.

 

    	 	15	 

     

    

 

3.6 Exchange
Act Reports. The Parent has furnished or made available to the Company complete and accurate copies, as amended or supplemented,
of its reports filed by the Parent under Section 13 or subsections (a) or (c) of Section 14 of the Exchange Act with the SEC since
April 10, 2009 (such reports are collectively referred to herein as the “Parent Reports”). The Parent Reports constitute
all of the documents required to be filed by the Parent with the SEC, including under Section 13 or subsections (a) or (c) of
Section 14 of the Exchange Act, from March 22, 2016 through the date of this Agreement. The Parent Reports complied in all material
respects with the requirements of the Exchange Act and the rules and regulations thereunder when filed.

 

3.7 Compliance
with Laws. Each of the Parent and its Subsidiaries:

 

(a) and
the conduct and operations of their respective businesses, are in compliance with each applicable law (including rules and regulations
thereunder) of any federal, state, local or foreign government, or any Governmental Entity, except for any violations or defaults
that, individually or in the aggregate, have not had and would not reasonably be expected to have a Parent Material Adverse Effect;

 

(b) has
complied with all federal and state securities laws and regulations, including being current in all of its reporting obligations
under such federal and state securities laws and regulations;

 

(c) has
not, and the past and present officers, directors and Affiliates of the Parent have not, been the subject of, nor does any officer
or director of the Parent have any reason to believe that the Parent or any of its officers, directors or Affiliates will be the
subject of, any civil or criminal proceeding or investigation by any federal or state agency alleging a violation of securities
laws;

 

(d) has
not been the subject of any voluntary or involuntary bankruptcy proceeding, nor has it been a party to any material litigation;

 

(e) has
not, and the past and present officers, directors and Affiliates have not, been the subject of, nor does any officer or director
of the Parent have any reason to believe that the Parent or any of its officers, directors or Affiliates will be the subject of,
any civil, criminal or administrative investigation or proceeding brought by any federal or state agency having regulatory authority
over such entity or person;

 

(f) does
not and will not on the Closing, have any liabilities, contingent or otherwise, including but not limited to notes payable and
accounts payable, and is not a party to any executory agreements; and

 

    	 	16	 

     

    

 

(g) is
not a “blank check company” as such term is defined by Rule 419 of the Securities Act nor a “shell company”
as such term is defined in Rule 12b-2 of the Exchange Act.

 

3.8 Financial
Statements. The audited financial statements and unaudited interim financial statements of the Parent included in the Parent
Reports (collectively, the “Parent Financial Statements”) (i) complied as to form in all material respects with applicable
accounting requirements and, as appropriate, the published rules and regulations of the SEC with respect thereto when filed, (ii)
were prepared in accordance with GAAP applied on a consistent basis throughout the periods covered thereby (except as may be indicated
therein or in the notes thereto, and in the case of quarterly financial statements, as permitted by Form 10-Q under the Exchange
Act), (iii) fairly present the consolidated financial condition, results of operations and cash flows of the Parent as of the
respective dates thereof and for the periods referred to therein, and (iv) are consistent with the books and records of the Parent.

 

3.9 Absence
of Certain Changes. Since the date of the balance sheet contained in the most recent Parent Report, (a) there has occurred
no event or development which, individually or in the aggregate, has had, or could reasonably be expected to have in the future,
a Parent Material Adverse Effect and (b) neither the Parent nor the Acquisition Subsidiary has taken any of the actions set forth
in paragraphs (a) through (l) of Section 4.6. Set forth on Schedule 3.9 of the Disclosure Schedule are all outstanding liabilities
of Parent as of the Closing Date. Acquisition Subsidiary has no liabilities.

 

3.10 Litigation.
Except as disclosed in the Parent Reports, as of the date of this Agreement, there is no Legal Proceeding which is pending or,
to the Parent’s knowledge, threatened against the Parent or any Subsidiary of the Parent which, if determined adversely
to the Parent or such Subsidiary, could have, individually or in the aggregate, a Parent Material Adverse Effect or which in any
manner challenges or seeks to prevent, enjoin, alter or delay the transactions contemplated by this Agreement. For purposes of
this Section 3.10, any such pending or threatened Legal Proceedings where the amount at issue exceeds or could reasonably be expected
to exceed the lesser of $5,000 per Legal Proceeding or $10,000 in the aggregate shall be considered to possibly result in a Parent
Material Adverse Effect hereunder.

 

3.11 Undisclosed
Liabilities. None of the Parent and its Subsidiaries has any liability (whether known or unknown, whether absolute or contingent,
whether liquidated or unliquidated and whether due or to become due), except for (a) liabilities shown on the balance sheet contained
in the most recent Parent Report, (b) liabilities which have arisen since the date of the balance sheet contained in the most
recent Parent Report in the ordinary course of business (c) contractual and other liabilities incurred in the ordinary course
of business which are not required by GAAP to be reflected on a balance sheet and (d) liabilities set forth in Schedule 3.9..

 

3.12 Tax
Matters. Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in
a Parent Material Adverse Effect, the Parent has filed all necessary Tax Returns and has paid or accrued all Taxes shown as due
thereon, and the Parent has no knowledge of a tax deficiency which has been asserted or threatened against the Parent.

 

    	 	17	 

     

    

 

3.13 Assets.
Each of the Parent and the Acquisition Subsidiary owns or leases all tangible assets necessary for the conduct of its businesses
as presently conducted and as presently proposed to be conducted. Each such tangible asset is free from material defects, has
been maintained in accordance with normal industry practice, is in good operating condition and repair (subject to normal wear
and tear) and is suitable for the purposes for which it presently is used. No asset of the Parent or the Acquisition Subsidiary
(tangible or intangible) is subject to any security interest.

 

3.14 Owned
Real Property. Neither the Parent nor any of its Subsidiaries owns any real property. The mining claims held by the Parent
are set forth in Schedule 3.14 of the Disclosure schedule.

 

3.15 Real
Property Leases. Section 3.15 of the Parent Disclosure Schedule lists all real property leased or subleased to or by the Parent
or any of its Subsidiaries and lists the term of such lease, any extension and expansion options, and the rent payable thereunder.
The Parent has delivered or made available to the Company complete and accurate copies of the leases and subleases listed in Section
3.15 of the Parent Disclosure Schedule. With respect to each lease and sublease listed in Section 3.15 of the Parent Disclosure
Schedule:

 

(a) the
lease or sublease is legal, valid, binding, enforceable and in full force and effect;

 

(b) the
lease or sublease will continue to be legal, valid, binding, enforceable and in full force and effect immediately following the
Closing in accordance with the terms thereof as in effect immediately prior to the Closing;

 

(c) neither
the Parent nor any of its Subsidiaries nor, to the knowledge of the Parent, any other party, is in breach or violation of, or
default under, any such lease or sublease, and no event has occurred, is pending or, to the knowledge of the Parent, is threatened,
which, after the giving of notice, with lapse of time or otherwise, would constitute a breach or default by the Parent or any
of its Subsidiaries or, to the knowledge of the Parent, any other party under such lease or sublease;

 

(d) neither
the Parent nor any of its Subsidiaries has assigned, transferred, conveyed, mortgaged, deeded in trust or encumbered any interest
in the leasehold or subleasehold; and

 

(e) to
the knowledge of the Parent, there is no security interest, easement, covenant or other restriction applicable to the real property
subject to such lease, except for recorded easements, covenants and other restrictions which do not materially impair the current
uses or the occupancy by the Parent or any of its Subsidiaries of the property subject thereto.

 

    	 	18	 

     

    

 

3.16 Contracts.

 

(a) Section
3.16 of the Parent Disclosure Schedule lists the following agreements (written or oral) to which the Parent or any of its Subsidiaries
is a party as of the date of this Agreement:

 

(i) any
agreement (or group of related agreements) for the lease of personal property from or to third parties;

 

(ii) any
agreement (or group of related agreements) for the purchase or sale of products or for the furnishing or receipt of services;

 

(iii) any
agreement establishing a partnership or joint venture;

 

(iv) any
agreement (or group of related agreements) under which it has created, incurred, assumed or guaranteed (or may create, incur,
assume or guarantee) indebtedness (including capitalized lease obligations) or under which it has imposed (or may impose) a security
interest on any of its assets, tangible or intangible;

 

(v) any
agreement concerning confidentiality or noncompetition;

 

(vi) any
employment or consulting agreement;

 

(vii) any
agreement involving any current or former officer, director or stockholder of the Parent or any Affiliate thereof;

 

(viii) any
agreement under which the consequences of a default or termination would reasonably be expected to have a Parent Material Adverse
Effect;

 

(ix) any
agreement which contains any provisions requiring the Parent or any of its Subsidiaries to indemnify any other party thereto (excluding
indemnities contained in agreements for the purchase, sale or license of products entered into in the ordinary course of business);

 

(x) any
other agreement (or group of related agreements) either involving more than $5,000 or not entered into in the ordinary course
of business; and

 

(xi) any
agreement, other than as contemplated by this Agreement, relating to the sales of securities of the Parent or any of its Subsidiaries
to which the Parent or such Subsidiary is a party.

 

    	 	19	 

     

    

 

(b) The
Parent has delivered or made available to the Company a complete and accurate copy of each agreement listed in Section 3.16 of
the Parent Disclosure Schedule. With respect to each agreement so listed: (i) the agreement is legal, valid, binding and enforceable
and in full force and effect; (ii) the agreement will continue to be legal, valid, binding and enforceable and in full force and
effect immediately following the Closing in accordance with the terms thereof as in effect immediately prior to the Closing; and
(iii) neither the Parent nor any of its Subsidiaries nor, to the knowledge of the Parent, any other party, is in breach or violation
of, or default under, any such agreement, and no event has occurred, is pending or, to the knowledge of the Parent, is threatened,
which, after the giving of notice, with lapse of time or otherwise, would constitute a breach or default by the Parent or any
of its Subsidiaries or, to the knowledge of the Parent, any other party under such contract.

 

3.17 Permits.
Section 3.17 of the Parent Disclosure Schedule sets forth a list of all permits, licenses, registrations, certificates, orders
or approvals from any Governmental Entity (including without limitation those issued or required under environmental laws and
those relating to the occupancy or use of owned or leased real property) (“Parent Permits”) issued to or held by the
Parent or any of its Subsidiaries. Such listed permits are the only Parent Permits that are required for the Parent and any of
its Subsidiaries to conduct their respective businesses as presently conducted except for those the absence of which, individually
or in the aggregate, have not had and would not reasonably be expected to have a Parent Material Adverse Effect. Each such Parent
Permit is in full force and effect and, to the knowledge of the Parent, no suspension or cancellation of such Parent Permit is
threatened and there is no basis for believing that such Parent Permit will not be renewable upon expiration. Each such Parent
Permit will continue in full force and effect immediately following the Closing.

 

3.18 Certain
Business Relationships with Affiliates. No Affiliate of the Parent or of any of its Subsidiaries (a) owns any property or
right, tangible or intangible, which is used in the business of the Parent or any of its Subsidiaries, (b) has any claim or cause
of action against the Parent or any of its Subsidiaries, or (c) owes any money to, or is owed any money by, the Parent or any
of its Subsidiaries. Section 3.18 of the Parent Disclosure Schedule describes any transactions involving the receipt or payment
in excess of $1,000 in any fiscal year between the Parent or any of its Subsidiaries and any Affiliate thereof which have occurred
or existed since the beginning of the time period covered by the Parent Financial Statements.

 

3.19 Tax-Free
Reorganization.

 

(a) The
Parent (i) is not an “investment company” as defined in Section 368(a)(2)(F)(iii) and (iv) of the Code; (ii) has no
present plan or intention to liquidate the Surviving Corporation or to merge the Surviving Corporation with or into any other
corporation or entity, or to sell or otherwise dispose of the stock of the Surviving Corporation which the Parent will acquire
in the Merger, or to cause the Surviving Corporation to sell or otherwise dispose of its assets, all except in the ordinary course
of business if such liquidation, merger or disposition is described in Section 368(a)(2)(C) or Treasury Regulation Section 1.368-2(d)(4)
or Section 1.368-2(k) or pursuant to the transfer of any of its assets pursuant to the Settlement Agreement; and (iii) has no
present plan or intention, following the Merger, to issue any additional shares of stock of the Surviving Corporation or to create
any new class of stock of the Surviving Corporation.

 

(b) The
Acquisition Subsidiary is a wholly-owned subsidiary of the Parent, formed solely for the purpose of engaging in the Merger, and
will carry on no business prior to the Merger.

 

    	 	20	 

     

    

 

(c) Immediately
prior to the Merger, the Parent will be in control of Acquisition Subsidiary within the meaning of Section 368(c) of the Code.

 

(d) Immediately
following the Merger, the Surviving Corporation will hold at least 90% of the fair market value of the net assets and at least
70% of the fair market value of the gross assets held by the Company immediately prior to the Merger (for purposes of this representation,
amounts used by the Company to pay reorganization expenses, if any, will be included as assets of the Company held immediately
prior to the Merger).

 

(e) The
Parent has no present plan or intention to reacquire any of the Merger Shares.

 

(f) The
Acquisition Subsidiary will have no liabilities assumed by the Surviving Corporation and will not transfer to the Surviving Corporation
any assets subject to liabilities in the Merger.

 

(g) Following
the Merger, the Surviving Corporation will continue the Company’s historic business or use a significant portion of the
Company’s historic business assets in a business as required by Section 368 of the Code and the Treasury Regulations promulgated
thereunder.

 

3.20 Brokers’
Fees. Neither the Parent nor the Acquisition Subsidiary has any liability or obligation to pay any fees or commissions to
any broker, finder or agent with respect to the transactions contemplated by this Agreement.

 

3.21 Disclosure.
No representation or warranty by the Parent contained in this Agreement, and no statement contained in the any document, certificate
or other instrument delivered or to be delivered by or on behalf of the Parent pursuant to this Agreement, contains or will contain
any untrue statement of a material fact or omits or will omit to state any material fact necessary, in light of the circumstances
under which it was or will be made, in order to make the statements herein or therein not misleading. The Parent has disclosed
to the Company all material information relating to the business of the Parent or any of its Subsidiaries or the transactions
contemplated by this Agreement.

 

3.22 Duty
to Make Inquiry. To the extent that any of the representations or warranties in this Article III are qualified by “knowledge”
or “belief,” the Parent represents and warrants that it has made due and reasonable inquiry and investigation concerning
the matters to which such representations and warranties relate, including, but not limited to, diligent inquiry by its directors,
officers and key personnel.

 

3.23 Minute
Books. The minute books and other similar records of the Parent and each of its Subsidiaries contain, in all material respects,
complete and accurate records of all actions taken at any meetings of directors (or committees thereof) and stockholders or actions
by written consent in lieu of the holding of any such meetings since the time of organization of each such corporation through
the date of this Agreement. The Parent has provided true and complete copies of all such minute books and other similar records
to the Company’s representatives.

 

    	 	21	 

     

    

 

3.24 Board
Action. The Parent’s Board of Directors (a) has unanimously determined that the Merger is advisable and in the best
interests of the Parent’s stockholders and is on terms that are fair to such Parent stockholders and (b) has caused the
Parent, in its capacity as the sole stockholder of the Acquisition Subsidiary, and the Board of Directors of the Acquisition Subsidiary,
to approve the Merger and this Agreement by unanimous written consent.

 

ARTICLE
IV

COVENANTS

 

4.1 Closing
Efforts. Each of the Parties shall use its commercially reasonable efforts (“Reasonable Best Efforts”), to take
all actions and to do all things necessary, proper or advisable to consummate the transactions contemplated by this Agreement,
including without limitation using its Reasonable Best Efforts to ensure that (i) its representations and warranties remain true
and correct in all material respects through the Closing Date and (ii) the conditions to the obligations of the other Parties
to consummate the Merger are satisfied.

 

4.2 Governmental
and Third-Party Notices and Consents.

 

(a) Each
Party shall use its Reasonable Best Efforts to obtain, at its expense, all waivers, permits, consents, approvals or other authorizations
from Governmental Entities, and to effect all registrations, filings and notices with or to Governmental Entities, as may be required
for such Party to consummate the transactions contemplated by this Agreement and to otherwise comply with all applicable laws
and regulations in connection with the consummation of the transactions contemplated by this Agreement.

 

(b) The
Company shall use its Reasonable Best Efforts to obtain, at its expense, all such waivers, consents or approvals from third parties,
and to give all such notices to third parties, as are required to be listed in Section 2.4 of the Disclosure Schedule.

 

4.3 Current
Report. As soon as reasonably practicable after the execution of this Agreement, the Parties shall prepare a Current Report
on Form 8-K relating to this Agreement and the transactions contemplated hereby (the “Current Report”). Each of the
Company and the Parent shall use its Reasonable Best Efforts to cause the Current Report to be filed with the SEC within four
business days of the execution of this Agreement and to otherwise comply with all requirements of applicable federal and state
securities laws. Further, the Parties shall prepare and file with the SEC an amendment to the Current Report within four business
days after the Closing Date, if such Current Report was filed before the Closing Date.

 

    	 	22	 

     

    

 

4.4 Operation
of Company Business. Except as contemplated by this Agreement, during the period from the date of this Agreement to the Effective
Time, the Company shall conduct its operations in the ordinary course of business and in material compliance with all applicable
laws and regulations and, to the extent consistent therewith, use its Reasonable Best Efforts to preserve intact its current business
organization, keep its physical assets in good working condition, keep available the services of its current officers and employees
and preserve its relationships with customers, suppliers and others having business dealings with it to the end that its goodwill
and ongoing business shall not be impaired in any material respect. Without limiting the generality of the foregoing, prior to
the Effective Time, the Company shall not, without the written consent of the Parent (which shall not be unreasonably withheld
or delayed):

 

(a) issue
or sell, or redeem or repurchase, any stock or other securities of the Company or any warrants, options or other rights to acquire
any such stock or other securities;

 

(b) split,
combine or reclassify any shares of its capital stock; declare, set aside or pay any dividend or other distribution (whether in
cash, stock or property or any combination thereof) in respect of its capital stock;

 

(c) create,
incur or assume any indebtedness for borrowed money (including obligations in respect of capital leases) except in the ordinary
course of business or in connection with the transactions contemplated by this Agreement; assume, guarantee, endorse or otherwise
become liable or responsible (whether directly, contingently or otherwise) for the obligations of any other person or entity;
or make any loans, advances or capital contributions to, or investments in, any other person or entity;

 

(d) acquire,
sell, lease, license or dispose of any assets or property, other than purchases and sales of assets in the ordinary course of
business;

 

(e) mortgage
or pledge any of its property or assets or subject any such property or assets to any security interest (except in connection
with senior debt in existence on the date of this Agreement);

 

(f) discharge
or satisfy any security interest or pay any obligation or liability other than in the ordinary course of business;

 

(g) amend
its charter, by-laws or other organizational documents;

 

(h) change
in any material respect its accounting methods, principles or practices, except insofar as may be required by a generally applicable
change in GAAP;

 

(i) enter
into, amend, terminate, take or omit to take any action that would constitute a violation of or default under, or waive any rights
under, any material contract or agreement;

 

(j) institute
or settle any Legal Proceeding;

 

(k) take
any action or fail to take any action permitted by this Agreement with the knowledge that such action or failure to take action
would result in (i) any of the representations and warranties of the Company set forth in this Agreement becoming untrue in any
material respect or (ii) any of the conditions to the Merger set forth in Article V not being satisfied; or

 

    	 	23	 

     

    

 

(l) agree
in writing or otherwise to take any of the foregoing actions.

 

4.5 Access
to Company Information.

 

(a) The
Company shall permit representatives of the Parent to have full access (at all reasonable times, and in a manner so as not to
interfere with the normal business operations of the Company) to all premises, properties, financial and accounting records, contracts,
other records and documents, and personnel of or pertaining to the Company.

 

(b) Each
of the Parent and the Acquisition Subsidiary (i) shall treat and hold as confidential any Company Confidential Information (as
defined below), (ii) shall not use any of the Company Confidential Information except in connection with this Agreement, and (iii)
if this Agreement is terminated for any reason whatsoever, shall return to the Company all tangible embodiments (and all copies)
thereof which are in its possession. For purposes of this Agreement, “Company Confidential Information” means any
information of the Company that is furnished to the Parent or the Acquisition Subsidiary by the Company in connection with this
Agreement; provided, however, that it shall not include any information (A) which, at the time of disclosure, is
available publicly other than as a result of non-permitted disclosure by the Parent, the Acquisition Subsidiary or their respective
directors, officers or employees, (B) which, after disclosure, becomes available publicly through no fault of the Parent or the
Acquisition Subsidiary or their respective directors, officers or employees, (C) which the Parent or the Acquisition Subsidiary
knew or to which the Parent or the Acquisition Subsidiary had access prior to disclosure, provided that the source of such information
is not known by the Parent or the Acquisition Subsidiary to be bound by a confidentiality obligation to the Company, or (D) which
the Parent or the Acquisition Subsidiary rightfully obtains from a source other than the Company, provided that the source of
such information is not known by the Parent or the Acquisition Subsidiary to be bound by a confidentiality obligation to the Company.

 

4.6 Operation
of Parent Business. Except as contemplated by this Agreement, during the period from the date of this Agreement to the Effective
Time, the Parent shall (and shall cause each of its Subsidiaries to) conduct its operations in the ordinary course of business
and in material compliance with all applicable laws and regulations and, to the extent consistent therewith, use its Reasonable
Best Efforts to preserve intact its current business organization, keep its physical assets in good working condition, keep available
the services of its current officers and employees and preserve its relationships with customers, suppliers and others having
business dealings with it to the end that its goodwill and ongoing business shall not be impaired in any material respect. Without
limiting the generality of the foregoing, prior to the Effective Time and at any time prior to the 10th after the filing
of the Schedule 14F-1 with the SEC, the Parent shall not (and shall cause each of its Subsidiaries not to), without the written
consent of the Company, in the case of any action prior the Effective Time, and without the written consent of David Platt, in
the case of any action after the Effective Time but prior to the 10th day following the filing of the Schedule 14F-1
with the SEC:

 

(a) issue
or sell, or redeem or repurchase, any stock or other securities of the Parent or any rights, warrants or options to acquire any
such stock or other securities;

 

    	 	24	 

     

    

 

(b) split,
combine or reclassify any shares of its capital stock; declare, set aside or pay any dividend or other distribution (whether in
cash, stock or property or any combination thereof) in respect of its capital stock;

 

(c) create,
incur or assume any indebtedness (including obligations in respect of capital leases); assume, guarantee, endorse or otherwise
become liable or responsible (whether directly, contingently or otherwise) for the obligations of any other person or entity;
or make any loans, advances or capital contributions to, or investments in, any other person or entity;

 

(d) acquire,
sell, lease, license or dispose of any assets or property (including without limitation any shares or other equity interests in
or securities of any Subsidiary of the Parent or any corporation, partnership, association or other business organization or division
thereof);

 

(e) mortgage
or pledge any of its property or assets or subject any such property or assets to any security interest;

 

(f) discharge
or satisfy any security interest or pay any obligation or liability other than in the ordinary course of business;

 

(g) amend
its charter, by-laws or other organizational documents;

 

(h) change
in any material respect its accounting methods, principles or practices, except insofar as may be required by a generally applicable
change in GAAP;

 

(i) enter
into, amend, terminate, take or omit to take any action that would constitute a violation of or default under, or waive any rights
under, any contract or agreement;

 

(j) institute
or settle any Legal Proceeding;

 

(k) take
any action or fail to take any action permitted by this Agreement with the knowledge that such action or failure to take action
would result in (i) any of the representations and warranties of the Parent and/or the Acquisition Subsidiary set forth in this
Agreement becoming untrue in any material respect or (ii) any of the conditions to the Merger set forth in Article V not being
satisfied; or

 

(l) agree
in writing or otherwise to take any of the foregoing actions.

 

4.7 Access
to Parent Information.

 

(a) The
Parent shall (and shall cause the Acquisition Subsidiary to) permit representatives of the Company to have full access (at all
reasonable times, and in a manner so as not to interfere with the normal business operations of the Parent and the Acquisition
Subsidiary) to all premises, properties, financial and accounting records, contracts, other records and documents, and personnel
of or pertaining to the Parent and the Acquisition Subsidiary.

 

    	 	25	 

     

    

 

(b) The
Company (i) shall treat and hold as confidential any Parent Confidential Information (as defined below), (ii) shall not use any
of the Parent Confidential Information except in connection with this Agreement, and (iii) if this Agreement is terminated for
any reason whatsoever, shall return to the Parent all tangible embodiments (and all copies) thereof which are in its possession.
For purposes of this Agreement, “Parent Confidential Information” means any information of the Parent or any Parent
Subsidiary that is furnished to the Company by the Parent or its Subsidiaries in connection with this Agreement; provided,
however, that it shall not include any information (A) which, at the time of disclosure, is available publicly other than
as a result of non-permitted disclosure by the Company or its directors, officers or employees, (B) which, after disclosure, becomes
available publicly through no fault of the Company or its directors, officers or employees, (C) which the Company knew or to which
the Company had access prior to disclosure, provided that the source of such information is not known by the Company to be bound
by a confidentiality obligation to the Parent or any Subsidiary of the Parent or (D) which the Company rightfully obtains from
a source other than the Parent or a Subsidiary of the Parent, provided that the source of such information is not known by the
Company to be bound by a confidentiality obligation to the Parent or any Subsidiary of the Parent.

 

4.8 Indemnification.

 

(a) The
Parent shall not, for a period of three years after the Effective Time, take any action to alter or impair any exculpatory or
indemnification provisions now existing in the certificate of incorporation or bylaws of the Company for the benefit of any individual
who served as a director or officer of the Company at any time prior to the Effective Time, except for any changes which may be
required to conform with changes in applicable law and any changes which do not affect the application of such provisions to acts
or omissions of such individuals prior to the Effective Time.

 

(b) From
and after the Effective Time, the Parent agrees that it will, and will cause the Surviving Corporation to, indemnify and hold
harmless each present and former director and officer of the Company (the “Indemnified Executives”) against any costs
or expenses (including reasonable attorneys’ fees), judgments, fines, losses, claims, damages, liabilities or amounts paid
in settlement incurred in connection with any claim, action, suit, proceeding or investigation, whether civil, criminal, administrative
or investigative, arising out of or pertaining to matters existing or occurring at or prior to the Effective Time, whether asserted
or claimed prior to, at or after the Effective Time, to the fullest extent permitted under Florida law (and the Parent and the
Surviving Corporation shall also advance expenses as incurred to the fullest extent permitted under Florida law, provided the
Indemnified Executive to whom expenses are advanced provides an undertaking to repay such advances if it is ultimately determined
that such Indemnified Executive is not entitled to indemnification).

 

4.9 Listing
of Merger Shares. The Parent shall take whatever steps are necessary to cause the Merger Shares to be eligible for quotation
on the OTC Pink.

 

    	 	26	 

     

    

 

4.10 Information
Provided to Company Stockholders. The Company shall prepare, with the cooperation of the Parent, information to be sent to
the holders of Company Shares in connection with receiving their approval of the Merger, this Agreement and related transactions.
Such information shall constitute a disclosure of the offer and issuance of the shares of Parent Common Stock to be received by
the Company Stockholders in the Merger. The Parent and the Company shall each use Reasonable Best Efforts to cause information
provided to such holders to comply with applicable federal and state securities laws requirements. Each of the Parent and the
Company agrees to provide promptly to the other such information concerning its business and financial statements and affairs
as, in the reasonable judgment of the providing party or its counsel, may be required or appropriate for inclusion in the information
sent, or in any amendments or supplements thereto, and to cause its counsel and auditors to cooperate with the other’s counsel
and auditors in the preparation of the information to be sent to the holders of Company Shares. The Company will promptly advise
the Parent, and the Parent will promptly advise the Company, in writing if at any time prior to the Effective Time either the
Company or the Parent shall obtain knowledge of any facts that might make it necessary or appropriate to amend or supplement the
information sent in order to make the statements contained or incorporated by reference therein not misleading or to comply with
applicable law. The information sent shall contain the recommendation of the Board of Directors of the Company that the holders
of Company Shares approve the Merger and this Agreement and the conclusion of the Board of Directors of the Company that the terms
and conditions of the Merger are advisable and fair and in the best interests of the Company and such holders. Anything to the
contrary contained herein notwithstanding, the Company shall not include in the information sent to such holders any information
with respect to the Parent or its affiliates or associates, the form and content of which information shall not have been approved
by the Parent in its reasonable discretion prior to such inclusion.

  

ARTICLE
V

CONDITIONS
TO CONSUMMATION OF MERGER

 

5.1 Conditions
to Each Party’s Obligations. The respective obligations of each Party to consummate the Merger are subject to the satisfaction
of the following conditions:

 

(a) this
Agreement and the Merger shall have received the approval of 100% of the votes represented by the outstanding Company Shares entitled
to vote on this Agreement and the Merger; and

 

(b) satisfactory
completion by the Parent and the Company of all necessary legal due diligence.

 

5.2 Conditions
to Obligations of the Parent and the Acquisition Subsidiary. The obligation of each of the Parent and the Acquisition Subsidiary
to consummate the Merger is subject to the satisfaction (or waiver by the Parent) of the following additional conditions:

 

(a) There
shall be no Dissenting Shares from the all of the issued and outstanding Company Shares as of the Effective Time;

 

    	 	27	 

     

    

 

(b) the
Company shall have obtained (and shall have provided copies thereof to the Parent) all waivers, permits, consents, approvals or
other authorizations, and effected all of the registrations, filings and notices, referred to in Section 4.2 which are required
on the part of the Company, except for any the failure of which to obtain or effect does not, individually or in the aggregate,
have a Company Material Adverse Effect or a material adverse effect on the ability of the Parties to consummate the transactions
contemplated by this Agreement;

 

(c) the
representations and warranties of the Company set forth in this Agreement (when read without regard to any qualification as to
materiality or Company Material Adverse Effect contained therein) shall be true and correct as of the date of this Agreement and
shall be true and correct as of the Effective Time as though made as of the Effective Time (provided, however, that
to the extent such representation and warranty expressly relates to an earlier date, such representation and warranty shall be
true and correct as of such earlier date), except for any untrue or incorrect representation and warranty that, individually or
in the aggregate, do not have a Company Material Adverse Effect or a material adverse effect on the ability of the Parties to
consummate the transactions contemplated by this Agreement;

 

(d) the
Company shall have performed or complied with its agreements and covenants required to be performed or complied with under this
as of or prior to the Effective Time, except when any non-performance or non-compliance does not have a Company Material Adverse
Effect or a material adverse effect on the ability of the Parties to consummate the transactions contemplated by this Agreement;

 

 

(e) no
Legal Proceeding shall be pending wherein an unfavorable judgment, order, decree, stipulation or injunction would (i) prevent
consummation of any of the transactions contemplated by this Agreement or (ii) cause any of the transactions contemplated by this
Agreement to be rescinded following consummation, and no such judgment, order, decree, stipulation or injunction shall be in effect;
and

 

(f) the
Company shall have delivered to the Parent and the Acquisition Subsidiary a certificate to the effect that each of the conditions
specified in clauses (a) and (b) (with respect to the Company’s due diligence of the Parent) of Section 5.1 and clauses
(a) through (e) (insofar as clause (e) relates to Legal Proceedings involving the Company) of this Section 5.2 is satisfied in
all respects.

 

5.3 Conditions
to Obligations of the Company. The obligation of the Company to consummate the Merger is subject to the satisfaction of the
following additional conditions:

 

(a) the
Parent shall have obtained (and shall have provided copies thereof to the Company) all of the waivers, permits, consents, approvals
or other authorizations, and effected all of the registrations, filings and notices, referred to in Section 4.2 which are required
on the part of the Parent or any of its Subsidiaries, except for any the failure of which to obtain or effect does not, individually
or in the aggregate, have a Parent Material Adverse Effect or a material adverse effect on the ability of the Parties to consummate
the transactions contemplated by this Agreement;

 

    	 	28	 

     

    

 

(b) the
representations and warranties of the Parent set forth in this Agreement (when read without regard to any qualification as to
materiality or Parent Material Adverse Effect contained therein) shall be true and correct as of the date of this Agreement and
shall be true and correct as of the Effective Time as though made as of the Effective Time (provided, however, that
to the extent such representation and warranty expressly relates to an earlier date, such representation and warranty shall be
true and correct as of such earlier date), except for any untrue or incorrect representation and warranty that, individually or
in the aggregate, do not have a Parent Material Adverse Effect or a material adverse effect on the ability of the Parties to consummate
the transactions contemplated by this Agreement;

 

(c) each
of the Parent and the Acquisition Subsidiary shall have performed or complied with its agreements and covenants required to be
performed or complied with under this Agreement as of or prior to the Effective Time, except when any non-performance or non-compliance
does not have a Parent Material Adverse Effect or a material adverse effect on the ability of the Parties to consummate the transactions
contemplated by this Agreement;

 

(d) no
Legal Proceeding shall be pending wherein an unfavorable judgment, order, decree, stipulation or injunction would (i) prevent
consummation of any of the transactions contemplated by this Agreement or (ii) cause any of the transactions contemplated by this
Agreement to be rescinded following consummation, and no such judgment, order, decree, stipulation or injunction shall be in effect

 

(e) The
Parent shall have entered into the Settlement Agreement and complied with its agreements and covenants required to be performed
or complied with under the Settlement Agreement as provided therein;

 

(f) the
Parent shall have delivered to the Company a certificate to the effect that each of the conditions specified in clauses (b) and
(c) (with respect to the Parent’s due diligence of the Company) of Section 5.1 and clauses (a) through (d) (insofar as clause
(d) relates to Legal Proceedings involving the Parent or the Acquisition Subsidiary) of this Section 5.3 is satisfied in all respects;
and

 

(g) the
total number of shares of Parent Common Stock issued and outstanding immediately prior to the Effective Time shall equal 3,711,213
shares.

 

ARTICLE
VI

RELEASE;
INDEMNIFICATION

 

6.1 General
Release. Effective upon Closing, each Company Stockholder, on his behalf and on behalf of his spouse, heirs, children, executors,
administrators, assigns, agents, and past and present attorneys (collectively, the “Stockholder Releasors”), releases
and discharges the Company and its parent company, holding company, subsidiaries, affiliates, funds, successors, predecessors,
officers, directors, principals, control persons, past and present employees, agents, insurers, past and present attorneys, and
assigns (the “Company Releasees”) from all actions, cause of action, suits, debts, dues, sums of money, commissions,
salaries, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances,
trespasses, damages, judgments, extents, executions, claims, and demands whatsoever, in law, admiralty or equity, against the
Company Releasees that the Shareholder Releasors ever had, now have or hereafter can, shall or may, have for, upon, or by reason
of any matter, cause or thing whatsoever, whether or not known or unknown, from the beginning of the world to the day of the date
of this Agreement.

 

    	 	29	 

     

    

 

6.2 Indemnification

 

(a)
Subject to the provisions of this Article VI, and irrespective of any due diligence investigation conducted by Parent with
regard to the transactions contemplated hereby, Company agrees to indemnify fully in respect of, hold harmless and defend the
Parent, and each of the officers, agents and directors of the Parent, against any damages, liabilities, costs, claims, proceedings,
investigations, penalties, judgments, deficiencies, including taxes, expenses (including, but not limited to, any and all interest,
penalties and expenses whatsoever reasonably incurred in investigating, preparing or defending against any litigation, commenced
or threatened, or any claim whatsoever) and losses (each, a “Claim” and collectively “Claims”) to which
it or they may become subject arising out of or based on any breach of or inaccuracy in any of the representations and warranties
or covenants or conditions made by Company herein in this Agreement.

 

(b)
Subject to the provisions of this Article VI, and irrespective of any due diligence investigation conducted by Company
with regard to the transactions contemplated hereby, Parent agrees to indemnify fully in respect of, hold harmless and defend
the Company, and each of the officers, agents and directors of the Company, against any Claims to which it or they may become
subject arising out of or based on any breach of or inaccuracy in any of the representations and warranties or covenants or conditions
made by Parent herein in this Agreement.

 

6.3 Survival
of Representations and Warranties. Notwithstanding any provision in this Agreement to the contrary, the representations and
warranties given or made under this Agreement shall survive the date hereof for a period of twelve (12) months from and after
the Closing Date (the last day of such period is herein referred to as the “Expiration Date”), except that any written
claim for breach thereof made and delivered prior to the Expiration Date to the party against whom such indemnification is sought
shall survive thereafter and, as to any such claim, such applicable expiration will not affect the rights to indemnification of
the party making such claim; provided, however, that any representations and warranties that were fraudulently made
shall not expire on the Expiration Date and shall survive indefinitely and claims with respect to fraud by any party must be made
at any time, as long as such claim is made within a reasonable period of time after discovery by the claiming party.

 

    	 	30	 

     

    

 

6.4 Method
of Asserting Claims, Etc. The party claiming indemnification is hereinafter referred to as the “Indemnified Party”
and the party against whom such claims are asserted hereunder is hereinafter referred to as the “Indemnifying Party.”
All Claims for indemnification by any Indemnified Party under this Article VI shall be asserted as follows:

 

(a) In
the event that any Claim or demand for which an Indemnifying Party would be liable to an Indemnified Party hereunder is asserted
against or sought to be collected from such Indemnified Party by a third party, said Indemnified Party shall, within ten (10)
business days from the date upon which the Indemnified Party has Knowledge of such Claim, notify the Indemnifying Party of such
claim or demand, specifying the nature of and specific basis for such claim or demand and the amount or the estimated amount thereof
to the extent then feasible (which estimate shall not be conclusive of the final amount of such Claim or demand) (the “Claim
Notice”). The Indemnified Party’s failure to so notify the Indemnifying Party in accordance with the provisions of
this Agreement shall not relieve the Indemnifying Party of liability hereunder unless such failure materially prejudices the Indemnifying
Party’s ability to defend against the claim or demand. The Indemnifying Party shall have 30 days from the giving of the
Claim Notice (the “Notice Period”) to notify the Indemnified Party: (i) whether or not the Indemnifying Party disputes
the liability of the Indemnifying Party to the Indemnified Party hereunder with respect to such Claim or demand, and (ii) whether
or not the Indemnifying Party desires, at the sole cost and expense of the Indemnifying Party, to defend the Indemnified Party
against such Claims or demand; provided, however, that any Indemnified Party is hereby authorized prior to and during the Notice
Period to file any motion, answer or other pleading which he shall deem necessary or appropriate to protect his interests or those
of the Indemnifying Party and not prejudicial to the Indemnifying Party. In the event that the Indemnifying Party notifies the
Indemnified Party within the Notice Period that he does not dispute liability for indemnification under this Article VI
and that he desires to defend the Indemnified Party against such claim or demand and except as hereinafter provided, the Indemnifying
Party shall have the right to defend by all appropriate proceedings, which proceedings shall be promptly settled or prosecuted
by him to a final conclusion. The Indemnified Party shall have the right to employ separate counsel in any such action and participate
in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party except to
the extent that the employment thereof has been specifically authorized by the Indemnifying Party in writing, the Indemnifying
Party has failed after a reasonable period of time to assume such defense and to employ counsel, or in such action there is, in
the reasonable opinion of such separate counsel, a material conflict on any material issue between the position of the Indemnifying
Party and the position of such Indemnified Party (a “Material Conflict”). If requested by the Indemnifying Party and
there is no Material Conflict, the Indemnified Party agrees to cooperate with the Indemnifying Party and his counsel in contesting
any Claim or demand which the Indemnifying Party elects to contest or, if appropriate and related to the Claim in question, in
making any Counterclaim against the person asserting the third party Claim or demand, or any cross-complaint against any person.
No Claim for which indemnity is sought hereunder and for which the Indemnifying Party has acknowledged liability for indemnification
under this Article VI may be settled without the consent of the Indemnifying Party, which consent shall not be unreasonably
withheld or delayed.

 

(b) In
the event any Indemnified Party should have a Claim against any Indemnifying Party hereunder which does not involve a Claim or
demand being asserted against or sought to be collected from him by a third party, the Indemnified Party shall give a Claim Notice
with respect to such Claim to the Indemnifying Party. If, after receipt of a Claim Notice, the Indemnifying Party does not notify
the Indemnified Party within the Notice Period that he disputes such Claim, then the Indemnifying Party shall be deemed to have
admitted liability for such Claim in the amount set forth in the Claim Notice.

 

(c) The
Indemnifying Party shall be given the opportunity to defend the respective Claim.

 

    	 	31	 

     

    

 

ARTICLE
VII

DEFINITIONS

 

For
purposes of this Agreement, each of the following defined terms is defined in the Section of this Agreement indicated below.

 

	Defined
    Term	 	Section
	Acquisition Subsidiary	 	Introduction
	Affiliate	 	2.13(a)(vii)
	Agreement	 	Introduction
	Articles of Merger	 	1.1
	Certificates	 	1.7
	Claim Notice	 	6.4(a)
	Claims	 	6.2
	Closing	 	1.2
	Closing Date	 	1.2
	Code	 	Introduction
	Company	 	Introduction
	Company Balance Sheet Date	 	2.6
	Company Confidential Information	 	4.5(b)
	Company Financial Statements	 	2.6
	Company Material Adverse Effect	 	2.1
	Company Shares	 	1.5(a)
	Company Stockholders	 	1.3(d)
	Current Report	 	4.3
	Disclosure Schedule	 	Article II
	Dissenting Shares	 	1.6(a)
	Effective Time	 	1.1
	Employee Benefit Plan	 	2.19(a)(i)
	Exchange Act	 	2.6
	DGCA	 	1.1
	GAAP	 	2.6
	Governmental Entity	 	2.4
	Indemnified Executives	 	4.9(b)
	Intellectual Property	 	2.27(a)
	Intellectual Property Rights	 	2.27(a)
	Legal Proceeding	 	2.17
	Merger	 	Introduction
	Merger Shares	 	1.5(b)
	OTC Pink	 	3.2
	Parent	 	Introduction
	Parent Common Stock	 	1.5(a)
	Parent Confidential Information	 	4.7(b)
	Parent Disclosure Schedule	 	Article III
	Parent Financial Statements	 	3.8
	Parent Material Adverse Effect	 	3.1
	Parent Permits	 	3.24
	Parent Reports	 	3.6
	Party	 	Introduction
	Permits	 	2.23
	Reasonable Best Efforts	 	4.1
	SEC	 	1.13
	Securities Act	 	1.14
	Stockholder Approval	 	2.3
	Subsidiary	 	2.5(a)
	Surviving Corporation	 	1.1
	Tax Returns	 	2.9(a)(ii)
	Taxes	 	2.9(a)(i)
	Third Party Intellectual Property Rights	 	2.27(d)
	Transaction Documentation	 	3.3

 

    	 	32	 

     

    

 

ARTICLE
VIII

TERMINATION

 

8.1 Termination
by Mutual Agreement. This Agreement may be terminated at any time by mutual consent of the Parties, provided that such consent
to terminate is in writing and is signed by each of the Parties.

 

8.2 Termination
by Operation of Law. This Agreement may be terminated by any Party hereto if there shall be any statute, rule or regulation
that renders consummation of the transactions contemplated by this Agreement illegal or otherwise prohibited, or a court of competent
jurisdiction or any government (or governmental authority) shall have issued an order, decree or ruling, or has taken any other
action restraining, enjoining or otherwise prohibiting the consummation of such transactions and such order, decree, ruling or
other action shall have become final and nonappealable.

 

8.3 Effect
of Termination or Default; Remedies. In the event of termination of this Agreement as set forth above, this Agreement shall
forthwith become void and there shall be no liability on the part of any Party hereto, provided that such Party is a non-defaulting
Party. The foregoing shall not relieve any Party from liability for damages actually incurred as a result of such Party’s
breach of any term or provision of this Agreement.

 

    	 	33	 

     

    

 

ARTICLE
IX

MISCELLANEOUS

 

9.1 Press
Releases and Announcements. No Party shall issue any press release or public announcement relating to the subject matter of
this Agreement without the prior written approval of the other Parties; provided, however, that any Party may make
any public disclosure it believes in good faith is required by applicable law, regulation or stock market rule (in which case
the disclosing Party shall use reasonable efforts to advise the other Parties and provide them with a copy of the proposed disclosure
prior to making the disclosure).

 

9.2 No
Third Party Beneficiaries. This Agreement shall not confer any rights or remedies upon any person other than the Parties and
their respective successors and permitted assigns; provided, however, that (a) the provisions in Article I concerning
issuance of the Merger Shares and Article VI concerning indemnification are intended for the benefit of the Company Stockholders
and (b) the provisions in Section 4.8 concerning indemnification are intended for the benefit of the individuals specified therein
and their successors and assigns.

 

9.3 Entire
Agreement. This Agreement (including the documents referred to herein) constitutes the entire agreement among the Parties
and supersedes any prior understandings, agreements or representations by or among the Parties, written or oral, with respect
to the subject matter hereof.

 

9.4 Succession
and Assignment. This Agreement shall be binding upon and inure to the benefit of the Parties named herein and their respective
successors and permitted assigns. No Party may assign either this Agreement or any of its rights, interests or obligations hereunder
without the prior written approval of the other Parties; provided that the Acquisition Subsidiary may assign its rights, interests
and obligations hereunder to a wholly-owned subsidiary of the Parent.

 

9.5 Counterparts.
This Agreement may be executed in two or more counterparts, all of which shall be considered one and the same agreement and shall
become effective when counterparts have been signed by each party and delivered to the other party. In the event that any signature
is delivered by facsimile transmission or by an e-mail which contains a portable document format (.pdf) file of an executed signature
page, such signature page shall create a valid and binding obligation of the party executing (or on whose behalf such signature
is executed) with the same force and effect as if such signature page were an original thereof.

 

9.6 Headings.
The section headings contained in this Agreement are inserted for convenience only and shall not affect in any way the meaning
or interpretation of this Agreement.

 

    	 	34	 

     

    

 

9.7 Notices.
All notices, requests, demands, claims and other communications hereunder shall be in writing. Any notice, request, demand, claim
or other communication hereunder shall be deemed duly delivered four business days after it is sent by registered or certified
mail, return receipt requested, postage prepaid, or one business day after it is sent for next business day delivery via a reputable
nationwide overnight courier service, in each case to the intended recipient as set forth below:

 

	If
        to the Company 

         

        BioxyTran
        Inc.

        233 Needham Street, 

        Suite 300 

        Newton MA, 02464 

        Attention:
        Mr. David Platt, PhD

        E-mail:
        david.platt@bioxytraninc.com

         
	 	Copy
        to (which copy shall not constitute notice hereunder):

         

        Law
        Office of R.J. Newman, P.C.

        1872
        Pleasantville Road, Suite 177

        Briarcliff Manor, NY 10510

        Telephone:917.494.9974

        Facsimile:
        212.202.6055

        E-mail:
        rj@newlawtech.com

         

	If
        to the Parent or

        the
        Acquisition Subsidiary (prior to the Closing):

         

        U.S.
        Rare Earth Minerals, Inc.

        78365
        Highway 111

        Suite 287

        La
        Quinta, Cal 92253

        Att: Larry Bonafide

        E-mail:
Bear@us-rem.com
	 	Copy
        to (which copy shall not

 constitute notice hereunder):

         

        Henry
        C. Casden, Esq.

        73-525 El Paseo Suite E-2516

        Palm
        Desert, CA 92260

        Casdenlaw@gmail.com

 

Any
Party may give any notice, request, demand, claim or other communication hereunder using any other means (including personal delivery,
expedited courier, messenger service, telecopy, telex, ordinary mail or electronic mail), but no such notice, request, demand,
claim or other communication shall be deemed to have been duly given unless and until it actually is received by the Party for
whom it is intended. Any Party may change the address to which notices, requests, demands, claims and other communications hereunder
are to be delivered by giving the other Parties notice in the manner herein set forth.

 

9.8 Governing
Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of New York without
giving effect to any choice or conflict of law provision or rule (whether of the State of New York or any other jurisdiction)
that would cause the application of laws of any jurisdictions other than those of the State of New York.

 

9.9 Amendments
and Waivers. The Parties may mutually amend any provision of this Agreement at any time prior to the Effective Time. No amendment
of any provision of this Agreement shall be valid unless the same shall be in writing and signed by all of the Parties. No waiver
of any right or remedy hereunder shall be valid unless the same shall be in writing and signed by the Party giving such waiver.
No waiver by any Party with respect to any default, misrepresentation or breach of warranty or covenant hereunder shall be deemed
to extend to any prior or subsequent default, misrepresentation or breach of warranty or covenant hereunder or affect in any way
any rights arising by virtue of any prior or subsequent such occurrence.

 

    	 	35	 

     

    

 

9.10 Severability.
Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall not affect
the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending
term or provision in any other situation or in any other jurisdiction. If the final judgment of a court of competent jurisdiction
declares that any term or provision hereof is invalid or unenforceable, the Parties agree that the court making the determination
of invalidity or unenforceability shall have the power to limit the term or provision, to delete specific words or phrases, or
to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes
closest to expressing the intention of the invalid or unenforceable term or provision, and this Agreement shall be enforceable
as so modified.

 

9.11 Submission
to Jurisdiction. Each of the Parties (a) submits to the jurisdiction of any state or federal court sitting in the County of
New York in the State of New York in any action or proceeding arising out of or relating to this Agreement, (b) agrees that all
claims in respect of such action or proceeding may be heard and determined in any such court, and (c) agrees not to bring any
action or proceeding arising out of or relating to this Agreement in any other court. Each of the Parties waives any defense of
inconvenient forum to the maintenance of any action or proceeding so brought and waives any bond, surety or other security that
might be required of any other Party with respect thereto. Any Party may make service on another Party by sending or delivering
a copy of the process to the Party to be served at the address and in the manner provided for the giving of notices in Section
9.7. Nothing in this Section 9.11, however, shall affect the right of any Party to serve legal process in any other manner permitted
by law.

 

9.12 Construction.

 

(a) The
language used in this Agreement shall be deemed to be the language chosen by the Parties to express their mutual intent, and no
rule of strict construction shall be applied against any Party.

 

(b) Any
reference to any federal, state, local or foreign statute or law shall be deemed also to refer to all rules and regulations promulgated
thereunder, unless the context requires otherwise.

 

9.13 Separate
Counsel. Each Party hereby expressly acknowledges that it has been advised to seek its own separate legal counsel for advice
with respect to this Agreement, and that no counsel to any Party hereto has acted or is acting as counsel to any other Party hereto
in connection with this Agreement.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	 	36	 

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Agreement and Plan of Merger and Reorganization as of the date first above written.

 

	 	PARENT:
	 	 

        U.S.
        RARE EARTH MINERALS, INC.

	 	 	 
	 	By:	 
	 	 	Name: Lawrence Bonefide
	 	 	Title: Chairman
	 	 	 
	 	ACQUISITION
SUBSIDIARY:

	 	 
	 	BIOXY
ACQUISITION CORP.

	 	 	 
	 	By:	 
	 	 	Name: Lawrence Bonefide
	 	 	Title: President
	 	 	 
	 	COMPANY:

	 	 
	 	BIOXYTRAN,
INC.

	 	 	 
	 	By:	 
	 	 	Name David Platt
	 	 	Title: Chief Executive Officer

 

    	 	37	 

     

    

 

DISCLOSURE
SCHEDULES

TO

AGREEMENT
AND PLAN OF MERGER

AND
REORGANIZATION

 

SCHEDULE
2.4

(Noncontravention)

 

NONE

 

 

 

 

 

 

 

 

 

SCHEDULE
2.5

(Subsidiaries)

 

NONE

 

 

 

SCHEDULE
2.7

(Absence
of Certain Changes)

 

 None.

 

 

 

 

 

 

 

SCHEDULE
2.12

(Real
Property Leases)

 

None

 

 

 

SCHEDULE
2.13

(Contracts)

 

Consulting
Agreements with David Platt and Ola Soderquist. 

Indemnification
provision in constituent documents.

 

    	 	38	 

     

    

 

SCHEDULE
2.16

(Permits)

 

None

 

 

 

 

SCHEDULE
2.17

(Certain
Business Relationships with Affiliates)

 

None

 

 

SCHEDULE
2.20

(Intellectual
Property)

 

(b)
None

(c)
[Provisional patents] 

 

 

SCHEDULE
3.9

LIABILITIES
AT CLOSING

 

	Vendor	 	Open Balance	 
	Edgar Agents, LLC	 	$	2,176.50	 
	Edgar Agents, LLC	 	$	191.50	 
	Edgar Agents, LLC	 	$	109.00	 
	NASDAQ OMX Corporate Solutions	 	$	516.00	 
	NASDAQ OMX Corporate Solutions/West	 	$	258.00	 
	Pinnacle Accountancy Group	 	$	8,500.00	 
	 	 	 	 	 
	Grand total	 	$	11,751.00	 

 

SCHEDULE
3.14

(Panace
Mining Claims)

Eagle
3NMC1004017

Eagle
4NMC1006216

Eagle
5NMC1006218

Eagle
6NMC1006217

Eagle
7NMC1005292

Eagle
8NMC1007241

Eagle
9NMC1003133

Eagle
10 NMC1003134

Eagle
11 NMC1003135

 

    	 	39	 

     

    

 

SCHEDULE
3.15

(Real
Property Leases)

 

None

 

SCHEDULE
3.16

(Contracts)

 

None 

 

 

 

 

 

SCHEDULE
3.17

(Permits)

 

None

 

 

 

SCHEDULE
3.18

(Certain
Business Relationships with Affiliates)

None

 

 

40Exhibit 10.11

 

ASSET PURCHASE AGREEMENT

 

This ASSET PURCHASE AGREEMENT (this
“Agreement”), dated as of September 17th , 2018, is entered into by and between, U.S. Rare
Earth Minerals, Inc., a Nevada corporation, with its principal executive offices located at 78365 Highway 111 suite 287, La Quinta,
California 92243 (“Seller”) and U.S. Rare Earth Minerals, Inc., a Wyoming corporation, with its offices
at 1621 Central Avenue, Cheyenne, WY 82001 (“Buyer”). 

 

RECITALS

 

WHEREAS, Mrs. Eleanor Yarbray (the
“Creditor”) holds a 6% Senior Unsubordinated Promissory Note, dated May 23, 2013, in the principal amount
of One Hundred and Ten Thousand Dollars ($110,000) (the “Promissory Note”);

 

WHEREAS, Creditor has a security interest
in substantially all of the assets of the Seller;

 

WHEREAS, all interest and principal
on the Promissory Note was due and payable on or before August 23, 2013 and is now in default;

 

WHEREAS, as
a condition and inducement to Creditor to enter into an Accord and Satisfaction Agreement (the “Accord and Satisfaction”)
releasing Seller of its obligations to Creditor under the Promissory Note, Seller shall execute and deliver this Agreement with
Buyer contemporaneously with the execution of the Accord and Satisfaction;

 

WHEREAS, Seller is engaged in the Business
(as defined below);

 

WHEREAS, Seller wishes to sell and
assign to Buyer, and Buyer wishes to purchase and assume from Seller, the assets and liabilities used primarily in the Business
(other than the Excluded Assets (as defined in Section 2.02)), subject to the terms and conditions set forth herein);

 

NOW, THEREFORE, in consideration of
the foregoing and the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

Article
I.

DEFINITIONS

 

“Action” means any action, appeal,
petition, plea, charge, complaint, claim, suit, demand, litigation, grievance, arbitration, mediation, hearing, inquiry, investigation
or similar event, occurrence, or proceeding, including, without limitation, proceedings by or before any Governmental Authority,
arbitrator or mediator.

 

“Affiliate” means, with respect to
any Person, any other Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is
under common control with, such Person. For the purposes of this definition, the term “control” (including
the terms “controlling”, “controlled by” and “under common control
with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management
and policies of a Person, whether through the ownership of voting securities, by Contract or otherwise.

 

    	 	Page 1 of 27	 

     

    

 

“Agreement and Plan of Merger” means,
the Agreement and Plan of Merger and Reorganization between Seller, Bioxy Acquisition Corp and Bioxytran, Inc, dated the even date
hereof.

 

“Assigned Contracts” has the meaning
set forth in Section 2.01(b).

 

“Assumed Liabilities” has the meaning
set forth in Section 2.03.

 

“Bill of Sale” has the meaning set
forth in Section 3.02(a)(i).

 

“Benefit Plan” means (i) each
“employee benefit plan” (as defined in Section 3(3) of ERISA, without regard to whether
ERISA applies thereto), (ii) all employment, deferred compensation, retention, consulting, severance, individual compensation
or similar agreements, and (iii)  all other retention, change-in-control, bonus, stock option, stock purchase, restricted
stock, stock appreciation right, phantom equity, incentive, deferred compensation, medical, life insurance, flexible spending,
supplemental retirement, severance, vacation, salary continuation, leave of absence, educational assistance, company car, housing
allowance, paid time off, welfare, fringe-benefit or other benefit plans, programs, policies, arrangements or agreements of any
kind (whether written or oral), and covering one or more Business Employees, current or former directors of the Business, or the
beneficiaries or dependents of any such Persons that is maintained, sponsored, contributed to, or required to be contributed to
by Seller, or under which Seller has any material liability for premiums or benefits.

 

“Books and Records” has the meaning
set forth in Section 2.01(g).

 

“Business” means the (i) sales and
distribution of certain products derived from the Buyer’s mining activities relating to natural mineral deposits commonly
known as Calcium Montmorillonite, (ii) sales and marketing and distribution of a product extracted in the mining process under
the name “Excelerite®” and (iii) the exploitation of mining rights granted by M Strata LLC to Buyer for land located
in the southwestern part of southern Nevada under the First Amended and Restated Mining Agreement, dated November 1, 2013 between
M. Strata LLC and the Buyer.

 

“Business Day” means any day except
Saturday, Sunday or any other day on which commercial banks located in New York, New York are authorized or required by Law to
be closed for business.

 

“Business Employee” means any Person
who is a present or former employee of Seller at any time prior to or on the Closing Date, and who provided or previously provided
any services relating to the Business.

 

“Buyer” has the meaning set forth
in the preamble.

 

“Buyer Indemnified Party(ies)” has
the meaning set forth in Section 7.02.

 

“Closing” has the meaning set forth
in Section 3.01.

 

“Closing Date” has the meaning set
forth in Section 3.01

 

“Code” means the Internal Revenue
Code of 1986, as amended.

 

“Contracts” means all legally binding
contracts (oral or written), leases, mortgages, licenses, sublicenses, instruments, notes, commitments, undertakings, indentures,
letters of intent, memorandum of understanding, memorandum of agreement and other agreements including purchase orders.

 

    	 	Page 2 of 27	 

     

    

 

“Current Assets of the Business” means
the current assets set forth in Section 2.01(i) of the Disclosure Schedule.

 

“Current Liabilities of the Business”
means the current liabilities set forth in Section 2.03(d) of the Disclosure Schedules.

 

“De-Minimis Losses” has the meaning
set forth in Section 7.04(b).

 

“Designated Person” has the meaning
set forth in Section 8.14(a).

 

“Direct Claim” has the meaning set
forth in Section 7.05(c).

 

“Disclosure Schedules” means the Disclosure
Schedules delivered by Seller concurrently with the execution and delivery of this Agreement.

 

“Dollars or $” means the lawful currency
of the United States.

 

“Encumbrance” means any lien, pledge,
mortgage, deed of trust, security interest, charge, claim, easement, encroachment, encumbrance or other restriction.

 

“Environmental Law” means any and
all federal, state or local Laws (including common law), any Governmental Order or binding agreement with any Governmental Authority
and any judicial or administrative interpretation thereof: (a) relating to pollution (or the cleanup thereof) or the protection
of natural resources, endangered or threatened species, human health or safety, or the environment (including ambient air, soil,
surface water or groundwater, or subsurface strata); or (b) concerning the presence of, exposure to, or the management, manufacture,
use, containment, storage, recycling, reclamation, reuse, treatment, generation, discharge, transportation, processing, production,
disposal or remediation of any Hazardous Materials. The term “ Environmental Law ” includes,
without limitation, the following (including their implementing regulations and any state analogs): the Comprehensive Environmental
Response, Compensation, and Liability Act of 1980, as amended by the Superfund Amendments and Reauthorization Act of 1986, 42 U.S.C.
§§ 9601 et seq.; the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act of 1976, as amended
by the Hazardous and Solid Waste Amendments of 1984, 42 U.S.C. §§ 6901 et seq.; the Federal Water Pollution Control Act
of 1972, as amended by the Clean Water Act of 1977, 33 U.S.C. §§ 1251 et seq.; the Toxic Substances Control Act of 1976,
as amended, 15 U.S.C. §§ 2601 et seq.; the Emergency Planning and Community Right-to-Know Act of 1986, 42 U.S.C. §§
11001 et seq.; the Clean Air Act of 1966, as amended by the Clean Air Act Amendments of 1990, 42 U.S.C. §§ 7401 et seq.;
and the Occupational Safety and Health Act of 1970, as amended, 29 U.S.C. §§ 651 et seq.

 

“Environmental Liabilities” means
any and all environmental response costs (including costs of remediation), damages, natural resource damages, settlements, consulting
fees, expenses, penalties, fines, orphan share, prejudgment and post-judgment interest, court costs, attorneys' fees, and other
liabilities incurred or imposed (i) pursuant to any order, notice of responsibility, directive (including requirements embodied
in Environmental Laws), injunction, judgment or similar act (including settlements) by any Governmental Authority or court of competent
jurisdiction to the extent arising out of any violation of, or remedial obligation under, any Environmental Laws which are attributable
to the ownership or operation of the Purchased Assets prior to or after the Closing Date or (ii) pursuant to any claim or cause
of action by a Governmental Authority or other Person for personal injury, property damage, damage to natural resources, remediation
or response costs to the extent arising out of any violation of, or any remediation obligation under, any Environmental Laws which
is attributable to the ownership or operation of the Purchased Assets prior to or after the Closing Date.

 

    	 	Page 3 of 27	 

     

    

 

“Equity Interest” means, with respect
to any Person, any share, share capital, capital stock, partnership, limited liability company, member or similar interest in such
person, and any option, warrant, right or security (including debt securities) convertible, exchangeable or exercisable thereto
or therefor.

 

“Excluded Assets” has the meaning
set forth in Section 2.02.

 

“Excluded Liabilities” has the meaning
set forth in Section 2.04.

 

“GAAP” means United States generally
accepted accounting principles in effect from time to time.

 

“Governmental Authority” means any
United States or non-United States national, federal, state, local, provincial or international government or political subdivision
thereof, or any agency or instrumentality of such government or political subdivision, or any stock exchange or self-regulated
organization or other non-governmental regulatory authority or quasi-governmental authority (to the extent that the rules, regulations
or orders of such organization or authority have the force of Law), or any arbitrator, court or tribunal of competent jurisdiction.

 

“Governmental Order” means any order,
writ, judgment, injunction, decree, stipulation, determination or award entered by or with any Governmental Authority.

 

“Indebtedness” means, as to any Person,
without duplication, (a) all obligations or liabilities of such Person for borrowed money or in respect of loans or advances
(including, without limitation, reimbursement and all other obligations with respect to surety bonds, guarantees, letters of credit,
banker’s acceptances, corporate credit card or business credit lines whether or not matured, indemnities, performance letters,
comfort letters and other arrangements similar to the foregoing); (b) all obligations or liabilities of such Person under
or pursuant to any arrangement to pay the deferred purchase price of property or services or the acquisition of any business, as
obligor or otherwise; (c) all obligations or liabilities of such Person under or pursuant to any interest rate and currency
swaps, caps collars, interest rate cap agreements, interest rate swap agreements, foreign currency exchange agreements and similar
agreements or hedging devices; (d) all obligations or liabilities created or arising under any conditional sale or other title
retention agreement with respect to property acquired by such Person (even though the rights and remedies of Seller or lender under
such agreement in the event of default are limited to repossession or sale of such property); (e) all obligations or liabilities
of such Person under or pursuant to leases which are required to be, in accordance with GAAP, recorded as capital leases; (f) all
obligations or liabilities secured by any Encumbrance on any property or asset owned by that Person, regardless of whether the
indebtedness secured thereby shall have been assumed by that Person or is non-recourse to the credit of that Person; (g) all
obligations or liabilities of such Person for off balance sheet financing of such Person (other than operating leases); (h) all
obligations or liabilities of such Person evidenced by bonds, debentures, notes or other similar securities or instruments; (i) all
obligations or liabilities of such Person for any direct or indirect guarantees made by such Person of any Indebtedness of any
other Person described in clauses (a) through (h); and (j) any accrued but unpaid interest, Taxes, interest, unpaid prepayment
or redemption penalties, premiums or payments and unpaid fees and expenses that are payable in connection with retirement, payment
or prepayment of any of the foregoing liabilities or obligations.

 

    	 	Page 4 of 27	 

     

    

 

“Indemnified Party” has the meaning
set forth in Section 7.05.

 

“Indemnifying Party” has the meaning
set forth in Section 7.05.

 

“Intellectual Property” means any
and all intellectual property rights in the world arising under the Laws of any jurisdiction with respect to, arising from or associated
with the following: (a) all Internet addresses and domain names (“Domain Names”); (b) trade
names, trademarks and service marks (registered and unregistered), trade dress, industrial designs, brand names, trade dress rights,
logos, emblems, signs or insignia, social media handles and names, and similar rights and applications to register any of the foregoing,
and all goodwill associated therewith throughout the world (collectively, “Marks”); (c) copyrights
and works of authorship (including copyrights in software programs) and registrations and applications therefor and all other rights
corresponding thereto, moral rights, database and design rights, and mask works and registrations and applications therefor (collectively,
“Copyrights”); (d) know-how, discoveries, trade secrets, methods, processes, technical data, specifications,
research and development information, technology, data bases and other proprietary or confidential information, including customer
lists, in each case that derives economic value from not being generally known to other Persons who can obtain economic value from
its disclosure, but excluding any Copyrights or Patents that cover or protect any of the foregoing (collectively, “Trade
Secrets”); and (f) all other intellectual property and industrial property rights and assets, and all rights,
interests and protections that are associated with, similar to, or required for the exercise of, any of the foregoing.

 

“Knowledge of Seller” or any other
similar knowledge qualification, means the actual knowledge, after reasonable investigation, of those persons listed on Section 1.01(d) of
the Disclosure Schedules and that knowledge which such Persons would have acquired after using commercially reasonable and customary
efforts to make a due inquiry into the underlying subject.

 

“Law” means any domestic or foreign
statute, law, ordinance, regulation, rule, code, order, injunction, constitution, treaty, common law, judgment, decree, other requirement
or rule of law of any Governmental Authority and generally accepted industry standards, including PCI-DSS and the Digital
Advertising Alliance.

 

“Liability” means any Indebtedness,
obligation, or liability, including any interest, penalties, fees, costs and expenses, whether known or unknown, matured or unmatured,
accrued or unaccrued, vested or unvested, asserted or unasserted, actual or contingent.

 

“Losses” means all losses, damages,
liabilities, deficiencies, claims, interest, awards, judgments, penalties, costs or expenses, including reasonable attorneys’
fees, costs and other out-of-pocket expenses incurred in investigating, preparing or defending the foregoing.

 

“Person” means an individual, corporation,
partnership, joint venture, limited liability company, Governmental Authority, unincorporated organization, trust, association
or other entity.

 

“Purchase Price” has the meaning set
forth in Section 2.05.

 

“Purchased Assets” has the meaning
set forth in Section 2.01.

 

“Receivables” means all receivables
(including, without limitation, accounts receivable, loans receivable and customer advances) arising from or related to the Business
and which are set forth in Section 2.01(a) of the Disclosure Schedules.

 

    	 	Page 5 of 27	 

     

    

 

“Representative” means, with respect
to any Person, any and all directors, partners, members, managers, officers, employees, consultants, financial advisors, counsel,
accountants and other agents of such Person.

 

“SEC” means the United States Securities
and Exchange Commission.

 

“Seller Indemnified Party(ies)” has
the meaning set forth in Section 8.03.

 

“Tangible Personal Property” has the
meaning set forth in Section 2.01(d).

 

“Taxes” means (i) all federal,
state, local or foreign taxes, including all income, gross receipts, capital, sales, use, ad valorem, value added, transfer, franchise,
profits, inventory, capital stock, license, withholding, payroll, employment, social security, unemployment, excise, severance,
stamp, occupation, property and estimated taxes, customs duties, fees, assessments and charges in the nature of a tax, (ii) all
interest, penalties, fines, additions to tax or additional amounts imposed by any Governmental Authority in connection with any
item described in clause (i), and (iii) any liability in respect of any items described in clauses (i) or (ii) payable
by reason of Contract, assumption, transferee liability, operation of Law, or Treasury Regulation Section 1.1502-6(a) (or
any predecessor or successor thereof or any analogous or similar provision under Law).

 

“Tax Return” means any return, report
or statement filed or required to be filed with a Governmental Authority with respect to any Taxes (including any elections, declarations,
schedules or attachments thereto, and any amendment thereof) including any information return, claim for refund, amended return
or declaration of estimated Taxes.

 

“Third Party Claim” has the meaning
set forth in Section 7.05(a).

 

“Transaction Documents” means this
Agreement, the Bill of Sale, the Assignment and Assumption Agreement, the Accord and Satisfaction, the Agreement and Plan of Merger,
and the other agreements, instruments and documents required to be delivered at the Closing.

 

Article
II.

PURCHASE AND SALE

 

Section 2.01 Purchase and Sale
of the Purchased Assets. Subject to the terms and conditions set forth herein, at the Closing,
Seller shall, sell, assign, transfer, convey and deliver to Buyer, and Buyer shall purchase from Seller all right, title and interest
in, to and under the business, properties, assets, goodwill and rights of Seller of whatever kind and nature, real or personal,
tangible or intangible, that are owned, leased, used or licensed by Seller and primarily used in the operation of the Business
as of the Closing Date, in each case, to the extent that such business, assets, properties, goodwill and rights exist as of the
Closing Date and primarily relate to the Business, except for the Excluded Assets (collectively, the “Purchased
Assets”), including all of such right, title and interest in and to the following:

 

(a) all Receivables as set forth in Section
2.01(a) of the Disclosure Schedules;

 

(b) all Contracts as set forth in Section
2.01(b) of the Disclosure Schedules, including the Intellectual Property Agreements (the “Assigned Contracts”);

 

    	 	Page 6 of 27	 

     

    

 

(c) the Intellectual Property set forth
in Section 2.01(c) of the Disclosure Schedules;

 

(d) all furniture, fixtures, equipment,
supplies, inventory and other tangible personal property of the Business, as listed on Section 2.01(d) of the Disclosure Schedules
(the “Tangible Personal Property”);

 

(e) all leased real property of the Business
listed on Section 2.01(e) of the Disclosure Schedules;

 

(f) all Permits used or held for use primarily
in connection with the Business as set forth in Section 2.01(f) of the Disclosure Schedules;

 

(g) copies of Sellers’ the following
books and records pertaining to the Purchased Assets: (i) executed copies of all of the Assigned Contracts; (ii) equipment, products
and other warranties; (iii) all technical information and data, maps, computer files, diagrams, blueprints and schematics; (iii)
all filings made with or records required to be kept by any Governmental Authority; (iv) all research and development reports;
(v) all equipment and operating logs; (vi) all creative, promotional or advertising materials; (vii) all customer, vendor and supplier
invoices and lists, client and supplier correspondence (in all cases, in any form or medium, including computerized media), mailing
lists and other distribution lists; and (viii) all sales data and information, billing records and manuals (“Books
and Records”);

 

(h) all credits, prepaid expenses, deferred
charges, advance payments, security deposits and prepaid items that primarily relate to the Purchased Assets (except for Tax credits,
Tax refunds and other Tax assets);

 

(i) all Current Assets of the Business
listed in Section 2.01(i) of the Disclosure Schedule, Wells Fargo Bank Accounts and notes receivables;

 

(j) all rights to receive mail and other
communications related to the Business;

 

(k) all telephone, facsimile numbers and
email addresses of the Business;

 

(l) all historical records, images, advertisements,
brochures and similar items related to or used or held for use in connection with the Business;

 

(m) all goodwill, trade secrets and confidential
information associated with the Business including, without limitation, the goodwill associated with existing customer relationships
of the Business, and all rights, claims or credits relating to or deriving from, any of the assets described in the foregoing clauses;
and

 

(n) the sole right to use the name “U.S.
Rare Earth Minerals, Inc.” and derivations thereof after the Seller has changed its name in the State of Nevada, the SEC
and the Financial Industry Regulatory Association.

 

    	 	Page 7 of 27	 

     

    

 

Section 2.02 Excluded Assets. Other
than the Purchased Assets subject to Section 2.01, Buyer expressly understands and agrees that it is not purchasing or acquiring,
and Seller is not selling or assigning, any other assets or properties of Seller, and all such assets and properties listed below
shall be excluded from the Purchased Assets (the “Excluded Assets”).
Excluded Assets are the following assets and properties of Seller:

 

(a) all Contracts that are not Assigned
Contracts; 

 

(b) the corporate seals, organizational
documents, minute books, stock books, Tax Returns and related records and workpapers, books of account or other records having
to do with the corporate organization of Seller, all employee-related or employee benefit-related files or records and any other
books and records which Seller is prohibited from disclosing or transferring to Buyer under applicable Law and is required by applicable
Law to retain;

 

(c) all insurance policies of Seller and
all rights to applicable claims and proceeds thereunder;

 

(d) all Benefit Plans and trusts or other
assets attributable thereto;

 

(e) all securities or other Equity Interests
of any Person owned or held by Seller; and

 

(f) all documents maintained by Seller
in connection with the transactions contemplated by this Agreement or any of the Transaction Documents.

 

Section 2.03 Assumed Liabilities.
Subject to the terms and conditions set forth herein, at the Closing, Buyer shall assume
and agree to pay, perform and discharge when due the following (collectively, the “Assumed Liabilities”):

 

(a) all trade accounts payable of Seller
to third parties in connection with the Business that remain unpaid as of the Closing Date;

 

(b) all liabilities and obligations under
the Assigned Contracts arising from the ownership, operation and conduct of the Business after the Closing, except those liabilities
and obligations relating to the Excluded Assets or Excluded Liabilities; 

 

(c) all Liabilities for (i) Taxes with
respect to the Business or the Purchased Assets and (ii) Transfer Taxes for which Buyer is responsible under Section 6.08(d);

 

(d) all Current Liabilities of the Business
as set forth in Section 2.03(d) of the Disclosure Schedules;

 

(e) all Environmental Liabilities associated
with the Purchased Assets whether in existence prior to or after the Closing Date;

 

(f) all Actions against Seller arising
prior to the Closing Date;

 

(g) any Liabilities for (i) Taxes with
respect to the Business or the Purchased Assets arising after the Closing Date, (ii) Taxes of Seller arising prior to the Closing
Date and (iii) Transfer Taxes;

 

(h) any default or breach of any Contract,
breach of warranty, tort, infringement, violation of Laws or environmental, health or safety matter; and,

 

(i) all Indebtedness of the Business on
the Closing Date, together with all interest due thereon.

 

    	 	Page 8 of 27	 

     

    

 

Section 2.04 Excluded Liabilities.
Buyer shall not assume and shall not be responsible to pay, perform or discharge any liabilities or obligations of Seller (collectively,
the “Excluded Liabilities”) as set forth below:

 

(a) any liabilities or obligations of Seller
after the Closing Date not associated with the Business or the Purchased Assets;

 

(b) any liability, obligation or commitment
arising out of any Contract that is not an Assigned Contract;

 

(c) any Liabilities for Taxes with respect
to the Seller arising after to the Closing Date and that are not associated with the Business or the Purchased Assets and

 

(d) any liability, obligation or commitment
of any of Sellers to the extent relating to, or arising out of, any Excluded Asset, or to the extent arising out of the ownership
by Seller of the Excluded Assets or associated with the realization of the benefits of any Excluded Asset or the business of the
Seller after the Closing date.

 

Section 2.05 Purchase Price. The
aggregate purchase price for the Purchased Assets (the “Purchase Price”)
shall be One dollar ($1.00).

 

Article
III.

CLOSING

 

Section 3.01 Closing.
 Subject to the terms and conditions of this Agreement, the consummation of the transactions contemplated by this Agreement
(the “Closing”) shall take place at such place as mutually determined
by the parties Contemporaneously with the execution of the Accord and Satisfaction; provided, that all the conditions to Closing
set forth in Article VII are either satisfied or waived.  The date on which the Closing occurs is herein referred to as the
“Closing Date.”

 

Section 3.02 Closing Deliverables.

 

(a) At the Closing, Seller shall deliver
to Buyer the following:

 

(i) a bill of sale in the form of Exhibit A hereto
(the “Bill of Sale”) duly executed by Seller, transferring the tangible personal property included in
the Purchased Assets to Buyer;

 

(ii) an assignment and assumption agreement
in the form of Exhibit B hereto (the “Assignment and Assumption Agreement”)
duly executed by Seller, effecting the assignment to and assumption by Buyer of the Purchased Assets and the Assumed Liabilities;
and

 

(iii) a certificate of the Secretary or
an Assistant Secretary (or equivalent officer) of Seller certifying (i) the names and signatures of the officers of Seller
who are authorized to sign this Agreement and the Transaction Documents and the other documents to be delivered hereunder and thereunder,
(ii) that attached thereto are true and complete copies of all resolutions adopted by the board of directors of Seller authorizing
the execution, delivery and performance of this Agreement and the other Transaction Documents and the consummation of the transactions
contemplated hereby and thereby, and (iii) that all such resolutions are in full force and effect and are all the resolutions
adopted in connection with the transactions contemplated hereby and thereby.

 

    	 	Page 9 of 27	 

     

    

 

(b) At the Closing, Buyer shall deliver
to Seller the following:

 

(i) the Purchase Price;

 

(ii) Assignment and Assumption Agreement
duly executed by Buyer; and

 

(iii) a certificate of the Secretary or
an Assistant Secretary (or equivalent officer) of Buyer certifying (i) the names and signatures of the officers of Buyer authorized
to sign this Agreement, the Transaction Documents and the other documents to be delivered hereunder and thereunder, (ii) that
attached thereto are true and complete copies of all resolutions adopted by the board of directors of Buyer authorizing the execution,
delivery and performance of this Agreement and the other Transaction Documents and the consummation of the transactions contemplated
hereby and thereby, and (iii) that all such resolutions are in full force and effect and are all the resolutions adopted in
connection with the transactions contemplated hereby and thereby.

 

Article
IV.

REPRESENTATIONS AND WARRANTIES OF SELLER

 

Seller represents and warrants to Buyer
that the statements contained in this Article IV are true and correct as of the date hereof and as of the Closing Date.

 

Section 4.01 Organization and Qualification
of Seller.  Seller is duly organized, validly existing and in good standing under the
Laws of its jurisdiction of incorporation and has all necessary corporate or entity power and authority to own, operate or lease
the properties and assets now owned, operated or leased by it and to carry on the Business as currently conducted and contemplated
to be conducted through Closing. Except as would not, individually or in the aggregate, be expected to be material to the Business
taken as a whole. Seller is duly licensed or qualified to do business and is in good standing in each jurisdiction in which the
ownership of the Purchased Assets or the operation of the Business as currently conducted makes such licensing or qualification
necessary.

 

Section 4.02 Authority of Seller.
 Seller has all necessary corporate power and authority to enter into this Agreement and the other Transaction Documents to
which Seller is a party, to carry out its obligations hereunder and thereunder and to consummate the transactions contemplated
hereby and thereby. The execution and delivery by Seller of this Agreement and any other Transaction Document to which Seller is
a party, the performance by Seller of its obligations hereunder and thereunder and the consummation by Seller of the transactions
contemplated hereby and thereby have been duly authorized by all requisite corporate action on the part of Seller. This Agreement
has been duly executed and delivered by Seller, and (assuming due authorization, execution and delivery by Buyer) this Agreement
constitutes a legal, valid and binding obligation of Seller, enforceable against Seller in accordance with its terms, except as
such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar Laws affecting creditors’
rights generally and by general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in
equity).  When each other Transaction Document to which Seller is or will be a party has been duly executed and delivered
by Seller (assuming due authorization, execution and delivery by Buyer and each other party thereto), such Transaction Document
will constitute a legal and binding obligation of Seller enforceable against it in accordance with its terms, except as such enforceability
may be limited by bankruptcy, insolvency, reorganization, moratorium or similar Laws affecting creditors’ rights generally
and by general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

 

    	 	Page 10 of 27	 

     

    

 

Section 4.03 No Conflicts; Consents.
 Except as set forth in Section 4.03 of the Disclosure Schedules, the execution, delivery and performance by Seller of
this Agreement and the other Transaction Documents to which Seller is a party, and the consummation of the transactions contemplated
hereby and thereby, do not and will not: (a) result in a violation or breach of any provision of the certificate of incorporation
or by-laws of Seller; (b) result in a violation or breach of any provision of any Law or Governmental Order applicable to
Seller, the Business,  the Purchased Assets or the Assumed Liabilities; (c) require the consent, notice or other action
by any Person under, conflict with, result in a violation or breach of, constitute a default under or result in the acceleration
of any Contract; (d) require the consent, notice, vote, approval or other action by the stockholders of Seller; or (e) result
in the creation or imposition of any Encumbrance on any Purchased Asset. No consent, approval, Permit, Governmental Order, declaration
or filing with, or notice to, any Governmental Authority is required by or with respect to Seller in connection with the execution
and delivery of this Agreement and the other Transaction Documents and the consummation of the transactions contemplated hereby
and thereby.

 

Section 4.04 Scope of Representations
of Seller.

 

Seller disclaims all liability and responsibility
for any representation, warranty, statements or communications (orally or in writing) to Buyer, including any information contained
in any opinion, information or advice that may have been provided to Buyer by any employee, officer, director, agent, consultant,
engineer or engineering firm, trustee, representative, investment banker, financial advisor, partner, member, beneficiary, stock
holder or contractor of Seller whenever and however made, including those made in any data room or internet site and any supplements
or amendments thereto or during any negotiations with respect to this Agreement or any confidentiality agreement previously executed
by the Parties with respect to the Purchased Assets.

 

SELLER MAKES NO WARRANTY OR REPRESENTATION,
EXPRESS, STATUTORY OR IMPLIED, AS TO (I) THE ACCURACY, COMPLETENESS OR MATERIALITY OF ANY DATA, INFORMATION OR RECORDS FURNISHED
TO BUYER IN CONNECTION WITH THE ASSETS OR OTHERWISE CONSTITUTING A PORTION OF THE ASSETS; (II) THE PRESENCE, QUALITY AND QUANTITY
OF PURCHASED ASSETS OR RESERVES (IF ANY) ATTRIBUTABLE TO THE PURCHASED ASSETS; (III) THE ABILITY OF THE PURCHASED ASSETS TO PRODUCE
CALCIUM MONTMORILLONITE OR “EXCELERITE ®”; (iv) THE PRESENT OR FUTURE VALUE OF THE ANTICIPATED INCOME, COSTS OR
PROFITS, IF ANY, TO BE DERIVED FROM THE PURCHASED ASSETS; (vi) THE ENVIRONMENTAL CONDITION OF THE PURCHASED ASSETS; (v) THE TAX
ATTRIBUTES OF PURCHASED ASSETS; AND (VI) ANY OTHER MATTERS CONTAINED IN OR OMITTED FROM ANY INFORMATION OR MATERIAL FURNISHED TO
BUYER BY SELLER OR OTHERWISE CONSTITUTING A PORTION OF THE PURCHASED ASSETS. ANY DATA, INFORMATION OR OTHER RECORDS FURNISHED BY
SELLER ARE PROVIDED TO BUYER AS A CONVENIENCE AND BUYER’S RELIANCE ON OR USE OF THE SAME IS AT BUYER’S SOLE RISK.

 

    	 	Page 11 of 27	 

     

    

 

(a) Buyer has, or by Closing will have,
made its own independent investigation, analysis and evaluation of the transactions contemplated by this Agreement (including Buyer’s
own estimate and appraisal of the value of Purchased Assets and an independent assessment and appraisal of the environmental risks
and liabilities associated with the acquisition of the Purchased Assets). Buyer has had, or will have prior to Closing, access
to perform its investigation and has not relied on any representations by Seller other than those expressly set forth in this Agreement.

 

(b) Except for the Seller’s express
representations and warranties in this Article IV, the Purchased Assets are to be sold AS IS AND WHERE IS AND WITHOUT WARRANTY
OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF TITLE, MERCHANTABILITY, CONDITION OR FITNESS
FOR A PARTICULAR PURPOSE. PRIOR TO CLOSING, BUYER SHALL HAVE INSPECTED THE ASSETS AND UPON CLOSING WILL ACCEPT THE ASSETS “AS
IS,” “WHERE IS,” AND “WITH ALL FAULTS” AND IN THEIR PRESENT CONDITION AND STATE OF REPAIR. 

 

Article
V.

REPRESENTATIONS AND WARRANTIES OF BUYER

 

Buyer represents and warrants to Seller
that the statements contained in this Article V are true and correct as of the date hereof and as of the Closing Date.

 

Section 5.01 Organization of Buyer.
The Buyer is duly organized, validly existing and in good standing under the Laws of the State of Wyoming.

 

Section 5.02 Authority of Buyer.
Buyer has all necessary organizational power and authority to enter into this Agreement and the other Transaction Documents to
which Buyer is a party, to carry out its obligations hereunder and thereunder and to consummate the transactions contemplated hereby
and thereby. The execution and delivery by Buyer of this Agreement and any other Transaction Document to which Buyer is a
party, the performance by Buyer of its obligations hereunder and thereunder and the consummation by Buyer of the transactions contemplated
hereby and thereby have been duly authorized by all requisite organizational power on the part of Buyer. This Agreement has been
duly executed and delivered by Buyer, and (assuming due authorization, execution and delivery by Seller) this Agreement constitutes
a legal, valid and binding obligation of Buyer enforceable against Buyer in accordance with its terms, except as such enforceability
may be limited by bankruptcy, insolvency, reorganization, moratorium or similar Laws affecting creditors’ rights generally
and by general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity). When each
other Transaction Document to which Buyer is or will be a party has been duly executed and delivered by Buyer (assuming due authorization,
execution and delivery by Seller and each other party thereto), such Transaction Document will constitute a legal and binding obligation
of Buyer enforceable against it in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency,
reorganization, moratorium or similar Laws affecting creditors’ rights generally and by general principles of equity (regardless
of whether enforcement is sought in a proceeding at law or in equity).

 

    	 	Page 12 of 27	 

     

    

 

Section 5.03 No
Conflicts; Consents.  The execution, delivery and performance by Buyer of this
Agreement and the other Transaction Documents to which Buyer is a party, and the consummation of the transactions contemplated
hereby and thereby, do not and will not: (a) result in a violation or breach of any provision of any organizational document
of Buyer; (b) result in a violation or breach of any provision of any Law or Governmental Order applicable to Buyer; or (c) require
the consent, notice or other action by any Person under, conflict with, result in a violation or breach of, constitute a default
under or result in the acceleration of any agreement to which Buyer is a party. No consent, approval, Permit, Governmental Order,
declaration or filing with, or notice to, any Governmental Authority is required by or with respect to Buyer in connection with
the execution and delivery of this Agreement and the other Transaction Documents and the consummation of the transactions contemplated
hereby and thereby.

 

Section 5.04 Legal
Proceedings. There are no Actions or other legal proceedings pending or, to Buyer’s
knowledge, threatened in writing against or by Buyer or any Affiliate of Buyer that challenge or seek to prevent, enjoin or otherwise
delay the transactions contemplated by this Agreement.

 

Article
VI.

COVENANTS

 

Section 6.01 Public Announcements.
 Buyer, on the one hand, and Seller, on the other hand, shall consult with each other before issuing any press release or
otherwise making any public statement with respect to this Agreement, the other Transaction Documents and the transactions contemplated
hereby and thereby and shall not issue any such press release or make any such public statement without the prior written consent
of the other, which consent shall not be unreasonably withheld or delayed; provided, however, that Buyer
or Seller may, without the prior written consent of the other party, issue such press release or make such public statement as
may, upon the advice of counsel, be required by applicable Law or stock exchange requirements. 

 

Section 6.02 Bulk Sales Laws.
 The parties hereby waive compliance with the provisions of any bulk sales, bulk transfer or similar Laws of any jurisdiction
that may otherwise be applicable with respect to the sale of any or all of the Purchased Assets to Buyer.

 

Section 6.03 Tax Matters.

 

(a) Seller and Buyer agree to furnish or
cause to be furnished to the other, upon request, as promptly as practicable, information and assistance relating to the Business
and the Purchased Assets, including access to Books and Records, as is reasonably necessary in connection with (i) the preparation
or filing of any Tax Return by Buyer or Seller, (ii) the making of any Tax election by Buyer or Seller, (iii) Buyer or Seller’s
claim for any Tax refund, (iv) the determination of liability for Taxes, and (v) any audit, examination or other proceeding in
respect of Taxes related to the Business or the Purchased Assets. Each of Buyer and Seller shall retain all Tax Returns, work papers
and other material records or other documentation in its possession (or in the possession of any Affiliate) in respect of Tax matters
relating to the Business and the Purchased Assets for any Tax period that includes the Closing Date and all prior taxable periods
until the expiration of the statute of limitations of the taxable periods to which such Tax Returns and other documents relate.

 

(b) Taxes levied with respect to the Business
or the Purchased Assets for a taxable period that includes (but does not end on) the Closing Date shall be assumed by the Buyer. For
the avoidance of doubt, this Section 6.03(b)shall survive the Closing Date.

 

    	 	Page 13 of 27	 

     

    

 

(c) All transfer, documentary, sales, use,
stamp, registration, value added and other similar Taxes and fees (including any additions thereto, penalties and interest) incurred
in connection with this Agreement and the other Transaction Documents (“Transfer Taxes”) shall be divided,
borne and paid equally 50% by Buyer and 50% by Seller when due. All necessary documentation and Tax Returns with respect to such
Transfer Taxes shall be prepared and filed by the party required under applicable Law to file such Tax Returns. If required by
applicable Law, Seller and Buyer shall, and shall cause their respective Affiliates to, cooperate in preparing and filing, and
join in the execution of, any such Tax Returns.  Seller and Buyer shall cooperate in providing each other with any appropriate
certification and other similar documentation relating to exemption from Transfer Taxes (including any appropriate resale exemption
certifications), as provided under applicable Law.

 

Section 6.04 Further Assurances.
 Following the Closing, each of the parties hereto shall, Buyer shall cause its Affiliates to, execute and deliver such additional
documents, instruments, conveyances and assurances and take such further actions as may be reasonably required to carry out the
provisions hereof and give effect to the transactions contemplated by this Agreement and the other Transaction Documents.

 

Section 6.05 Third Party Consents. 
Seller shall use commercially reasonable efforts to give all notices, obtain all consents and to and make all filings with third
parties that are described in Section 4.03 of the Disclosure Schedules.

 

Article
VII.

INDEMNIFICATION

 

Section 7.01 Survival. Subject
to the limitations and other provisions of this Agreement, the representations and warranties contained herein shall survive the
Closing and shall remain in full force and effect until the date that is two (2) months from the Closing Date (the “Expiration
Date”); provided, however, Section 4.04 shall survive the termination of this Agreement.

 

Section 7.02 Indemnification By
Seller. After the Closing, subject to the other terms and conditions of this Article VII,
Seller shall indemnify Buyer and its Representatives (collectively, the “Buyer Indemnified Parties”)
against, and shall hold Buyer Indemnified Parties harmless from and against, any and all Losses incurred or sustained by, or imposed
upon, the Buyer Indemnified Parties based upon, arising out of, with respect to or by reason of:

 

(a) any inaccuracy in or breach of any
of the representations or warranties of Seller contained in this Agreement or in any Transaction Document;

 

(b) any breach or non-fulfillment of any
covenant, agreement or obligation to be performed by Seller pursuant to this Agreement or in any Transaction Document;

 

(c) any Third Party Claims related to the
business, operations, properties, assets or obligations of Seller or any of its Affiliates conducted, existing or arising after
the Closing; or

 

(d) any Excluded Asset or Excluded Liabilities.

 

    	 	Page 14 of 27	 

     

    

 

Section 7.03 Indemnification By
Buyer.  After the Closing, subject to the other terms and conditions of this Article VII,
Buyer shall indemnify Seller and its Affiliates (collectively, the “Seller Indemnified Parties”)
against, and shall hold the Seller Indemnified Parties harmless from and against, any and all Losses incurred or sustained by,
or imposed upon, the Seller Indemnified Parties based upon, arising out of, with respect to or by reason of:

 

(a) any inaccuracy in or breach of any
of the representations or warranties of Buyer contained in this Agreement or in any Transaction Document;

 

(b) any breach or non-fulfillment of any
covenant, agreement or obligation to be performed by Buyer pursuant to this Agreement or in any Transaction Document;

 

(c) any Third Party Claims related to the
Business, operations, properties, assets or obligations of Seller or any of its Affiliates; or

 

(d) any Purchased Assets or Assumed Liabilities.

 

Section 7.04 Certain Limitations.
The indemnification provided for in Section 7.02 and Section 7.03 by the Buyer and Seller shall
be subject to the following limitations: 

 

(a) Any individual or series of related
Losses must exceed $30,000 (“De-Minimis Losses”) for an Indemnified Party to be eligible for indemnification
and shall be deducted from any award for a Loss.

 

(b) Payments by the Indemnifying Party
pursuant to this Article VII in respect of any Loss shall be limited to the amount of any liability or damage that remains after
deducting therefrom any insurance proceeds and any indemnity, contribution or other similar payment actually received by the Indemnified
Party in respect of any such claim.

 

(c) in no event shall the Indemnifying
Party be liable to the Indemnified Party for any punitive, incidental, consequential, special or indirect damages, including loss
of future revenue or income, loss of business reputation or opportunity relating to the breach or alleged breach of this Agreement,
or any damages based on any type of multiple except to the extent adjudicated and owed to a third party with respect to a Third
Party Claim.

 

(d) Each Indemnified Party shall take,
and cause its Affiliates to take, all reasonable steps to mitigate any Loss, including by pursuing insurance claims and claims
against third parties, and shall reasonably consult and cooperate with the Indemnifying Party with a view toward mitigating Losses
upon becoming aware of any event or circumstance that would be reasonably expected to, or does, give rise to Losses.

 

    	 	Page 15 of 27	 

     

    

 

Section 7.05 Indemnification Procedures.
The party making a claim under this Article VII is referred to as the “Indemnified
Party”, and the party against whom such claims are asserted under this Article VIII
is referred to as the “Indemnifying Party”. 

 

(a) Third Party Claims. If any Indemnified
Party receives written notice of the assertion or commencement of any Action or other legal proceeding made or brought by any Person
who is not a party to this Agreement or an Affiliate of a party to this Agreement or a Representative of the foregoing (a “Third
Party Claim”) against such Indemnified Party, the Indemnified Party shall give the Indemnifying Party prompt written
notice thereof (a “Claim Notice”). The failure to give such prompt written notice shall not, however,
relieve the Indemnifying Party of its indemnification obligations. Such Claim Notice shall describe the Third Party Claim in reasonable
detail, shall include a copy of all papers served with respect to such Third Party Claim, if any, and any other documents reasonably
necessary (as determined by the Indemnified Party) and shall indicate the estimated amount, if reasonably practicable, of the Loss
that has been or may be sustained by the Indemnified Party. The Indemnifying Party shall have the right to participate in or, by
giving written notice within ten (10) Business Days of receipt of a Third Party Claim, to assume the defense of any Third Party
Claim at the Indemnifying Party’s expense and by the Indemnifying Party’s own counsel; provided, that such notice contains
confirmation that the Indemnifying Party has agree to indemnify the Indemnified Party (subject to the limitation on indemnification
set forth herein) for the Losses arising out of or resulting from the Third Party Claim of which it is assuming the right to conduct
and control the defense thereof. In the event that the Indemnifying Party assumes the defense of any Third Party Claim, subject
to Section 7.05(b), it shall have the right to take such action as it deems necessary to avoid, dispute, defend, appeal or make
counterclaims pertaining to any such Third Party Claim in the name and on behalf of the Indemnified Party; provided,
however, that the Indemnifying Party shall not be entitled to control, and the Indemnified Party shall be entitled
to have sole control over, the defense or settlement of any claim if: (i) such claim is part of an Action to which the Indemnifying
Party is also a party and the Indemnified Party is advised by counsel that a conflict exists as a result of the Indemnifying Party’s
control over such proceedings, (ii) such Third Party Claim seeks injunctive or other equitable relief against the Indemnified Party,
(iii) the Third Party Claim relates to or arises in connection with any governmental proceeding, action, indictment, allegation
or investigation in respect of the business of Buyer or their respective Affiliates, (iv) the Indemnifying Party failed or is failing
to reasonably prosecute or defend such Third Party Claim, or (vi) such claim involves any customer, supplier, distributor or other
material business relation of Buyer or Seller or their respective Affiliates. If the Indemnifying Party has validly made such election,
the Indemnified Party shall have the right, at its own cost and expense, to participate in the defense of any Third Party Claim
with counsel selected by it subject to the Indemnifying Party’s right to control the defense thereof. If the Indemnifying
Party elects not to compromise or defend such Third Party Claim or fails to promptly notify the Indemnified Party in writing of
its election to defend as provided in this Agreement, the Indemnifying Party shall be liable for the fees and expenses of counsel
employed by the Indemnified Party. The Indemnified Party and the Indemnifying Party shall cooperate with each other in all reasonable
respects to ensure the proper and adequate defense of any Third Party Claim, including making available Books and Records and other
information relating to such Third Party Claim and furnishing employees and representatives as may be reasonably necessary for
the preparation of the defense of such Third Party Claim.

 

(b) Settlement of Third Party Claims.
Notwithstanding any other provision of this Agreement, if the Indemnifying Party assumes the defense of any Third Party Claim pursuant
to Section 7.05, (i) the Indemnified Party shall not file any papers or consent to the entry of any judgment or enter into any
settlement with respect to such Third Party Claim and (ii) the Indemnifying Party shall not consent to the entry of any judgment
or enter into any settlement with respect to such Third Party Claim without the prior written consent of the Indemnified Party
(which consent shall be given if the settlement by its terms (1) obligates the Indemnifying Party to pay the full amount of the
liability in connection with such Third Party Claim, (2) fully and finally releases the Indemnified Party completely in connection
with such Third Party Claim, and (3) does not impose any obligation or restriction on such Indemnified Party or its Affiliates).
If the Indemnifying Party does not assume the defense of such Third Party Claims or fails to diligently prosecute or withdraws
from the defense of a Third Party Claim, the Indemnifying Party will not be obligated to indemnify the Indemnified Party for any
settlement entered into or any judgment consented to without the prior the Indemnifying Party’s prior written consent (which
consent shall not be unreasonably withheld, delayed or conditioned). Notwithstanding any other provision of this Agreement, whether
or not the Indemnifying Party shall have assumed the defense of a Third Party Claim, if the Indemnified Party admits any liability
with respect to, or settles, compromises or discharges, such Third Party Claim without the Indemnifying Party’s prior written
consent (which consent shall not be unreasonably withheld, delayed or conditioned), then such admission, settlement or compromise
will not be binding upon or constitute evidence against the Indemnifying Party for purposes of determining whether the Indemnified
Party has incurred Losses that are indemnifiable pursuant to this Article VII or the amount thereof.

 

    	 	Page 16 of 27	 

     

    

 

(c) Direct Claims. Any claim by
an Indemnified Party on account of a Loss which does not result from or involve a Third Party Claim (a “Direct Claim”)
shall be asserted by the Indemnified Party by providing prompt written notice thereof to the Indemnifying Party after the Indemnified
Party becomes aware of such Direct Claim. Such notice by the Indemnified Party shall describe the Direct Claim in reasonable detail
and shall indicate the estimated amount, if reasonably practicable, of the Loss that has been or may be sustained by the Indemnified
Party. The Indemnifying Party shall have thirty (30) days after its receipt of such notice to respond in writing to such Direct
Claim asserting or denying its responsibility with respect to such Direct Claim. During such thirty (30)-day period, the Indemnified
Party shall allow the Indemnifying Party and its professional advisors to investigate the matter or circumstance alleged to give
rise to the Direct Claim, and whether and to what extent any amount is payable in respect of the Direct Claim and the Indemnified
Party shall reasonably assist the Indemnifying Party’s investigation. If the Indemnifying Party does not so respond within
such thirty (30)-day period, the Indemnifying Party shall be deemed to have accepted such claim.

 

Article
VIII.

MISCELLANEOUS

 

Section 8.01 Expenses.
 Except as otherwise expressly provided herein (including Section 6.08 hereof), all costs and expenses, including, without
limitation, fees and disbursements of counsel, financial advisors and accountants, incurred in connection with this Agreement and
the transactions contemplated hereby shall be paid by the party incurring such costs and expenses, whether or not the Closing shall
have occurred.

 

Section 8.02 Notices.
All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing (including, without
limitation, e-mail transmission) and shall be deemed to have been given (a) if delivered by hand, when such delivery is made
at the address specified on the signature pages hereto; (b) when received by the addressee if sent by a nationally recognized
overnight courier (receipt requested); (c) if delivered by e-mail or facsimile, when such e-mail or facsimile is transmitted
to the number or e-mail address specified on the signature page hereto or (d) on the day mailed, by certified or registered
mail, return receipt requested, postage prepaid. Such communications must be sent to the respective parties at the addresses or
coordinates as provided Preamble hereto (or at such other address for a party as shall be specified in a notice given in accordance
with this Section 8.02).

 

    	 	Page 17 of 27	 

     

    

 

Section 8.03 Interpretation.
For purposes of this Agreement, (a) the words “include,” “includes” and “including”
shall be deemed to be followed by the words “without limitation”; (b) the
word “or” is not exclusive; and
(c) the words “herein,” “hereof,” “hereby,” “hereto”
and “hereunder” refer to this Agreement as a whole. Unless the context otherwise
requires, references herein: (x) to Articles, Sections, Disclosure Schedules and Exhibits mean the Articles and Sections of,
and Disclosure Schedules and Exhibits attached to, this Agreement; (i) to an agreement, instrument or other document means
such agreement, instrument or other document as amended, supplemented and modified from time to time to the extent permitted by
the provisions thereof and (ii) to a statute means such statute as amended from time to time and includes any successor legislation
thereto and any regulations promulgated thereunder. This Agreement shall be construed without regard to any presumption or rule requiring
construction or interpretation against the party drafting an instrument or causing any instrument to be drafted. The Disclosure
Schedules and Exhibits referred to herein shall be construed with, and as an integral part of, this Agreement to the same extent
as if they were set forth verbatim herein.  All references in this Agreement or any of the other Transaction Documents to
“$” or “Dollars” are to United
States Dollars, unless expressly stated otherwise.

 

Section 8.04 Headings.
The headings in this Agreement are for reference only and shall not affect the interpretation of this Agreement.

 

Section 8.05 Severability.
If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality
or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term
or provision in any other jurisdiction.

 

Section 8.06 Entire Agreement.
This Agreement (including the Exhibits and the Disclosure Schedules) and the other Transaction Documents constitute the entire
agreement of the parties with respect to the subject matter contained herein and therein, and supersede all prior and contemporaneous
representations, warranties, understandings and agreements, both written and oral, with respect to such subject matter.

 

Section 8.07 Successors and Assigns.
 This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors
and permitted assigns.  Except as set forth in Section 2.12, neither party may assign its rights or obligations hereunder
without the prior written consent of the other party; provided, however, that Buyer can assign its rights
hereunder to any lender providing the Financing.  No assignment (including pursuant to Section 2.12) shall relieve the
assigning party of any of its obligations hereunder.

 

Section 8.08 No Third Party Beneficiaries.
 This Agreement is for the sole benefit of the parties hereto and their respective successors and permitted assigns and nothing
herein, express or implied, is intended to or shall confer upon any other Person or entity any legal or equitable right, benefit
or remedy of any nature whatsoever under or by reason of this Agreement.

 

Section 8.09 Amendment and Modification;
Waiver.  This Agreement may only be amended, modified or supplemented by an agreement
in writing signed by Seller and Buyer. No waiver by any party of any of the provisions hereof shall be effective unless explicitly
set forth in writing and signed by the party so waiving. No waiver by any party shall operate or be construed as a waiver in respect
of any failure, breach or default not expressly identified by such written waiver, whether of a similar or different character,
and whether occurring before or after that waiver. No failure to exercise, or delay in exercising, any right, remedy, power or
privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise
of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other
right, remedy, power or privilege.

 

    	 	Page 18 of 27	 

     

    

 

Section 8.10 Governing Law; Submission
to Jurisdiction; Waiver of Jury Trial.

 

(a) This Agreement shall be governed by
and construed in accordance with the internal laws of the State of Nevada without giving effect to any choice or conflict of law
provision or rule (whether of the State of Nevada or any other jurisdiction).

 

(b) ANY LEGAL SUIT, ACTION OR
PROCEEDING ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY
OR THEREBY MAY BE INSTITUTED IN THE FEDERAL COURT OF THE UNITED STATES OF AMERICA OR THE STATE COURT, IN EACH CASE LOCATED
IN NEVADA, AND EACH PARTY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF SUCH COURTS IN ANY SUCH SUIT, ACTION OR PROCEEDING.
SERVICE OF PROCESS, SUMMONS, NOTICE OR OTHER DOCUMENT BY MAIL TO SUCH PARTY’S ADDRESS SET FORTH HEREIN SHALL BE EFFECTIVE
SERVICE OF PROCESS FOR ANY SUIT, ACTION OR OTHER PROCEEDING BROUGHT IN ANY SUCH COURT. THE PARTIES IRREVOCABLY AND UNCONDITIONALLY
WAIVE ANY OBJECTION TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR ANY PROCEEDING IN SUCH COURTS AND IRREVOCABLY WAIVE AND AGREE
NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN
AN INCONVENIENT FORUM.

 

(c) EACH PARTY ACKNOWLEDGES AND AGREES
THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT OR THE OTHER TRANSACTION DOCUMENTS IS LIKELY TO INVOLVE COMPLICATED
AND DIFFICULT ISSUES AND, THEREFORE, EACH SUCH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL
BY JURY IN RESPECT OF ANY LEGAL ACTION ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE OTHER TRANSACTION DOCUMENTS, THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY. EACH PARTY TO THIS AGREEMENT CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE OF ANY OTHER
PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT
OF A LEGAL ACTION, (B) SUCH PARTY HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY,
AND (D) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS SECTION 8.10(c).

 

    	 	Page 19 of 27	 

     

    

 

Section 8.11 Specific Performance.
 The parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance
with the terms hereof or were otherwise breached. It is accordingly agreed that the parties to this Agreement shall be entitled
to seek equitable relief, including, without limitation, an injunction or injunctions (without the payment or posting of any bond)
in connection with any breach or threatened breach of this Agreement and to enforce specifically the terms and provisions of this
Agreement in any court of the United States or any state having jurisdiction. This paragraph shall not be construed as an election
of any remedy, or as a waiver of any right available to the parties under this Agreement or the law, including, without limitation,
the right to seek damages from the breaching party for a breach of any provision of this Agreement, nor shall this paragraph be
construed to limit the rights or remedies available under applicable law for any violation of any provision of this Agreement.

 

Section 8.12 Disclosure Schedule.  The
Disclosure Schedules will be arranged to correspond to the representations and warranties in Articles IV and V of this Agreement
and disclosure in one section shall be deemed to be disclosure in any other section required in the Disclosure Schedule.

 

Section 8.13 Counterparts.
This Agreement may be executed and delivered (including, without limitation, by facsimile transmission or e-mail) in counterparts,
each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed
copy of this Agreement delivered by facsimile, e-mail or other means of electronic transmission shall be deemed to have the same
legal effect as delivery of an original signed copy of this Agreement.

 

Section 8.14 Waiver of Conflicts
Regarding Representation; Nonassertion of Attorney-Client Privilege.

 

(a) Buyer and Seller waive and shall not
assert, and agrees to cause its Affiliates to waive and not to assert, any conflict of interest arising out of or relating to the
representation, after the Closing (the “Post-Closing Representation”), of Seller, Buyer or any of their
Affiliates or any shareholder, officer, employee or director of the or any of their Affiliates (any such Person, a “Designated
Person”) in any matter involving this Agreement, the Transaction Documents or the transactions contemplated hereby,
by Law Office of R.J. Newman, P.C.

 

(b) Buyer and Seller waive and shall not
assert, and agrees to cause its Affiliates to waive and to not assert, any attorney-client privilege solely to the extent inherited
as a result of the transactions contemplated by this Agreement with respect to any communication between any legal counsel and
any Designated Person in any matter involving this Agreement, the Transaction Documents or the transactions contemplated hereby
occurring during the Current Representation prior to the Closing Date in connection with any Post-Closing Representation.

 

(c) The attorney-client privilege, attorney
work-product protection and expectation of client confidence arising from the transactions contemplated hereby prior to the Closing
Date, and all information and documents covered by such privilege or protection, will belong to and be controlled by Seller and
may be waived only by Seller, and not Buyer, and will not pass to or be claimed or used by Buyer; provided, that Buyer
may assert the privilege against a third party.

 

[Remainder of Page Intentionally
Left Blank]

 

    	 	Page 20 of 27	 

     

    

 

	 	SELLER:
	 	 
	 	U.S. RARE EARTH MINERALS, INC.
	 	 	(a Nevada corporation)
	 	 	 
	 	By:	 
	 	 	Name: 	Mr. Lawrence W. Bonafide 
	 	 	Title:	Chairman, Secretary & Treasurer
	 	 	 
	 	BUYER:
	 	 
	 	U.S. RARE EARTH MINERALS, INC.
	 	 	(a Wyoming corporation)
	 	 	 
	 	By:	 
	 	 	Name: 	Mr. Thomas Yarbray  
	 	 	Title:	 

 

    	 	Page 21 of 27	 

     

    

 

DISCLOSURE SCHEDULES

 

2.01 (a) Receivables 

All accounts receivables of Seller on the Closing Date.

 

2.01 (b) Assigned Contracts

 

2.01 (c) Intellectual Property

Domain name: US-REM.com

Website: US-Rem.com

Copyrights: All material on USMN’s website and advertising
material

Trademark: EXCELERITE®

OMRI Products Listings

Distributor Contracts

Customer List

Amazon Account

E-Bay account

E-Voice account

Mail Chimp account

Google account

Quick Books On-Line account

 

2.01 (d) Tangible Personal Property

EQUIPMENT

CB Loadall 520 vin# SLP520WE0789591

John Deere 120 Excavator PIN P00120x03485

Gradall Telescopic Material Handler s/n GYG19769

Case W-14 Articulating Wheel Loader s/n 1941656

Kawasaki 85Z Articulating Wheel Loader s/n 85C3 5851

Terex T45 45 kw Generator Mod. OT451 s/n U1051113170

Stacker #1 s/n 243456 Power screen

Stacker #2 s/n 243457 Power screen

Power screen Screening Plant #1 s/n 2720256

Power screen Screening Plant #2 s/n 2737489

 

    	 	Page 22 of 27	 

     

    

 

2.01 (e) Leased Real Property

La Quinta, CA Office Address

PANACE MINING CLAIMS

	Eagle 3	NMC1004017
	Eagle 4	NMC1006216
	Eagle 5	NMC1006218
	Eagle 6	NMC1006217
	Eagle 7	NMC1005292
	Eagle 8	NMC1007241
	Eagle 9	NMC1003133
	Eagle 10	NMC1003134
	Eagle 11	NMC1003135

 

2.01 (f) Permits

 

2.01 (i) Current Assets

Wells Fargo checking account No. 7655740426

Wells Fargo savings account No. 6454374403

 

2.03 (d) Current Liabilities

All current liabilities of the Seller in existence on the date
hereof.

 

    	 	Page 23 of 27	 

     

    

 

Bill Of Sale

 

DATE: September ___, 2018

 

This Bill of Sale is made between U.S. Rare
Earth Minerals, Inc. (a Nevada corporation) (“Seller”), located at 78365 Hwy 111, Suite 287, La Quinta, CA 92253 and
U.S. Rare Earth Minerals, Inc. (a Wyoming corporation) (“Buyer”) located at1621 Central Avenue, Cheyenne, WY 82001.

 

For valuable consideration, receipt of which
is hereby acknowledged. Seller hereby transfers, conveys and assigns to buyer all of its rights title and interest in and unto
all of the following equipment, assets, intangible assets, banking accounts and mining claims as set forth below:

 

EQUIPMENT

CB Loadall 520 vin# SLP520WE0789591

John Deere 120 Excavator PIN P00120x03485

Gradall Telescopic Material Handler s/n GYG19769

Case W-14 Articulating Wheel Loader s/n 1941656

Kawasaki 85Z Articulating Wheel Loader s/n 85C3 5851

Terex T45 45 kw Generator Mod. OT451 s/n U1051113170

Stacker #1 s/n 243456 Power screen

Stacker #2 s/n 243457 Power screen

Power screen Screening Plant #1 s/n 2720256

Power screen Screening Plant #2 s/n 2737489

 

OTHER

Domain name: US-REM.com

Website: US-Rem.com

Copyrights: All material on USMN’s website and advertising
material

Trademark: EXCELERITE®

OMRI Products Listings

La Quinta, CA Office Address

Distributor Contracts

Customer List

Amazon Account

E-Bay account

E-Voice account

 

    	 	Page 24 of 27	 

     

    

 

Mail Chimp account

Google account

Quick Books On-Line accoun

 

BANKING

Wells Fargo checking account No. 7655740426

Wells Fargo savings account No. 6454374403

 

PANACE MINING CLAIMS

	Eagle 3	NMC1004017
	Eagle 4	NMC1006216
	Eagle 5	NMC1006218
	Eagle 6	NMC1006217
	Eagle 7	NMC1005292
	Eagle 8	NMC1007241
	Eagle 9	NMC1003133
	Eagle 10	NMC1003134
	Eagle 11	NMC1003135

 

to Buyer in exchange for forgiveness of $110,000 a 6% Senior
Unsubordinated Promissory Note, dated May 23, 2013 in the principal amount of One Hundred and Ten Thousand Dollars ($110,000),
together with all interest, penalty interest and penalty fees thereon.

 

	 	SELLER:
	 	 
	 	U.S. RARE EARTH MINERALS, INC.
	 	 	(a Nevada corporation)
	 	 	 
	 	By:	 
	 	 	Name: 	Mr. Lawrence W. Bonafide 
	 	 	Title:	Chairman, Secretary & Treasurer
	 	 	 
	 	BUYER:
	 	 
	 	U.S. RARE EARTH MINERALS, INC.
	 	 	(a Wyoming corporation)
	 	 	 
	 	By:	 
	 	 	Name: 	Mr. Thomas Yarbray 
	 	 	Title:	 

 

    	 	Page 25 of 27	 

     

    

 

ASSIGNMENT AND
ASSUMPTION AGREEMENT

 

THIS ASSIGNMENT
AND ASSUMPTION AGREEMENT (“Assignment and Assumption Agreement”) is made and entered into effective
on September __, 2018 (“Effective Date”), between U.S. Rare Earth Minerals, Inc. (a Nevada corporation)
“Assignor”, located at 78365 Hwy 111, Suite 287, La Quinta, CA 92253 and U.S. Rare Earth Minerals, Inc. (a Wyoming
corporation) “Assignee” located at1621 Central Avenue, Cheyenne, WY 82001. (“Assignee). The
Assignee and the Assignor are referred to herein individually as a “Party” and collectively as the “Parties.”

 

RECITALS:

 

Pursuant to that
certain Asset Purchase Agreement, dated the even date hereof (the “Asset Purchase Agreement”), the Assignor desires
to assign to the Assignee 100% of its interest and its rights under the Asset Purchase Agreement associated with the Business (capitalized
terms used herein but not defined have the meanings set forth in the Asset Purchase Agreement) as set forth in the Asset Purchase
Agreement, (“Assigned Interest/Rights”) on the terms and subject to the conditions contained in this
Assignment and Assumption Agreement.

 

NOW, THEREFORE,
for good and valuable consideration, the receipt and the sufficiency of which are hereby acknowledged, the Parties hereby agree
as follows:

 

1. Assignment.
The Assignor hereby assigns to the Assignee the Assigned Interest/Rights effective on the Effective Date in accordance with this
Assignment and Assumption Agreement and the Asset Purchase Agreement.

 

2. Assumption.
The Assignee hereby assumes all of the duties, the obligations and the liabilities of the Assignor arising under the Asset Purchase
Agreement on or after the Effective Date with respect to the Assigned Interest/Rights. The Assignee hereby expressly agrees to
be bound by the terms and the conditions of the Asset Purchase Agreement on and after the Effective Date with respect to the Assigned
Interest/Rights.

 

Signature page
follows this page.

 

    	 	Page 26 of 27	 

     

    

 

IN WITNESS
WHEREOF, the Parties have executed and delivered this Assignment and Assumption Agreement as of the Effective Date.

 

	ASSIGNOR	U.S. RARE EARTH MINERALS, INC. 
	 	(A NEVADA CORPORATION)
	 	 	 
	 	By:	 
	 	Name: 	Dr. David Platt
	 	Title:  	Chief Executive Officer
	 	 	 
	ASSIGNEE	U.S. RARE EARTH MINERALS, INC. 
	 	(A WYOMING CORPORATION)
	 	 
	 	By:	 
	 	Name: 	Mr. Thomas Yarbray
	 	Title:	Chief Executive Officer

 

 

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