Document:

Exhibit 4.2

 

RIGHTS AGREEMENT

 

This Rights Agreement
(this “Agreement”) is made as of July 24, 2018 between Greenland Acquisition Corporation, a British Virgin Islands
company, with offices at Suite 906, Tower W1, Oriental Plaza, No. 1 East Chang’an Street, Dongcheng District, Beijing, People’s
Republic of China (“Company”), and Continental Stock Transfer& Trust Company, a New York corporation, with offices
at One State Street, 30th Floor, New York, New York 10004 (“Rights Agent”).

 

WHEREAS, the Company
has received binding commitments from Greenland Asset Management Corporation (“Sponsor”) and Chardan Capital Markets,
LLC (“Representative”) to purchase up to an aggregate of 270,000 units (or 288,000 if the over-allotment option is
exercised in full by the underwriters), each unit (“Unit”) comprised of one ordinary share, with no par value, of the
Company (“Ordinary Share”), one warrant to purchase one-half of one Ordinary Share (“Warrant”) and one
right to receive one-tenth of one Ordinary Share upon the happening of the triggering event described herein (“Right”),
and in connection therewith, will issue and deliver up to an aggregate of 288,000 Rights as part of such Units upon consummation
of such private placement (the “Private Offering”); and

 

WHEREAS, the Company
is engaged in a public offering (“Public Offering”) of Units and, in connection therewith, will issue and deliver (i)
up to 4,600,000 Rights to the public investors and (ii) 240,000 Rights (as part of a unit purchase option) to the Representative
or its designees; and

 

WHEREAS, in order to
finance the Company’s transaction costs in connection with an intended initial Business Combination (as defined in the Company’s
Amended and Restated Memorandum and Articles of Association), the Sponsor or an affiliate of the Sponsor or certain of the Company’s
executive officers and directors may loan to the Company funds as may be required, of which up to $1,500,000 of such loans may
be convertible into up to an additional 150,000 Units, and in connection therewith, will issue and deliver up to an aggregate of
150,000 Rights; and

 

WHEREAS, the Company
has filed with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-1, File No. 333-226001
(“Registration Statement”), and related Prospectus (“Prospectus”) for the registration, under the Securities
Act of 1933, as amended (“Act”), of, among other securities, the Rights and the Ordinary Shares issuable to the holders
of the Rights; and

 

WHEREAS, the Company
may issue up to an additional 240,000 Rights upon exercise of certain unit purchase options to be issued to the Representative
and/or its designees; and

 

WHEREAS, the Company
desires the Rights Agent to act on behalf of the Company, and the Rights Agent is willing to so act, in connection with the issuance,
registration, transfer and exchange of the Rights; and

 

WHEREAS, the Company
desires to provide for the form and provisions of the Rights, the terms upon which they shall be issued, and the respective rights,
limitation of rights, and immunities of the Company, the Rights Agent, and the holders of the Rights; and

 

WHEREAS, all acts and
things have been done and performed which are necessary to make the Rights, when executed on behalf of the Company and countersigned
by or on behalf of the Rights Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize
the execution and delivery of this Agreement.

 

NOW, THEREFORE, in
consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

1.            Appointment of Rights Agent.
The Company hereby appoints the Rights Agent to act as agent for the Company for the Rights, and the Rights Agent hereby accepts
such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement.

 

    

     

    

 

2.            Rights.

 

2.1.         Form of Right.
Each Right shall be issued in registered form only, shall be in substantially the form of Exhibit A hereto, the provisions of which
are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chairman of the Board or Chief Executive
Officer and the Secretary of the Company and shall bear a facsimile of the Company’s seal. In the event the person whose
facsimile signature has been placed upon any Right shall have ceased to serve in the capacity in which such person signed the Right
before such Right is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of issuance.

 

2.2.         Effect of Countersignature.
Unless and until countersigned by the Rights Agent pursuant to this Agreement, a Right shall be invalid and of no effect and may
not be exchanged for Ordinary Shares.

 

2.3.         Registration.

 

2.3.1.              Right Register.
The Rights Agent shall maintain books (“Right Register”) for the registration of original issuance and the registration
of transfer of the Rights. Upon the initial issuance of the Rights, the Rights Agent shall issue and register the Rights in the
names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered to the Rights
Agent by the Company.

 

2.3.2.              Registered
Holder. Prior to due presentment for registration of transfer of any Right, the Company and the Rights Agent may deem and treat
the person in whose name such Right shall be registered upon the Right Register (“registered holder”) as the absolute
owner of such Right and of each Right represented thereby (notwithstanding any notation of ownership or other writing on the Right
Certificate made by anyone other than the Company or the Rights Agent), for the purpose of the exchange thereof, and for all other
purposes, and neither the Company nor the Rights Agent shall be affected by any notice to the contrary.

 

2.4.         Detachability
of Rights. The securities comprising the Units, including the Rights, will not be separately transferable until the earlier
to occur of: (i) the 90th day following the date of the Prospectus or (ii) the announcement by the Representative, as
representative of the underwriters in the Public Offering, of its intention to allow separate earlier trading, except that in no
event will the securities comprising the Units be separately tradeable until the Company files a Current Report on Form 8-K with
the SEC which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Public Offering
including the proceeds received by the Company from the exercise of the over-allotment option, if the over-allotment option is
exercised by the date thereof and the Company issues a press release and files a Current Report on Form 8-K with the SEC announcing
when such separate trading shall begin.

 

3.            Terms and Exchange of Rights

 

3.1.         Rights.
Each Right shall entitle the holder thereof to receive one-tenth of one Ordinary Share upon the happening of an Exchange Event
(defined below). No additional consideration shall be paid by a holder of Rights in order to receive his, her or its Ordinary Shares
upon an Exchange Event as the purchase price for such Ordinary Shares has been included in the purchase price for the Units. In
no event will the Company be required to net cash settle the Rights or issue fractional Ordinary Shares.

 

3.2.         Exchange Event.
An “Exchange Event” shall occur upon the Company’s consummation of an initial Business Combination (as defined
in the Company’s Amended and Restated Memorandum and Articles of Association).

 

3.3.         Exchange of
Rights.

 

3.3.1.              Issuance of
Ordinary Shares. As soon as practicable upon the occurrence of an Exchange Event, the Company shall direct holders of the Rights
to return their Rights Certificates to the Rights Agent. Upon receipt of a valid Rights Certificate, the Company shall issue to
the registered holder of such Right(s) the number of full Ordinary Shares to which he, she or it is entitled, registered in such
name or names as may be directed by him, her or it and issue to such registered holder(s) a certificate or book-entry position
for the such shares. Notwithstanding the foregoing, or any provision contained in this Agreement to the contrary, in no event will
the Company be required to net cash settle the Rights. The Company shall not issue fractional shares upon exchange of Rights. In
the event that any holder would otherwise be entitled to any fractional share upon exchange of Rights, at the time of an Exchange
Event, the Company will instruct the Right Agent how any such entitlement will be addressed. To the fullest extent permitted by
the Company’s Amended and Restated Memorandum and Articles of Association the Company reserves the right to deal with any
such fractional entitlement at the relevant time in any manner permitted by the Act and the Amended and Restated Memorandum and
Articles, which would include the rounding down of any entitlement to receive Ordinary Shares to the nearest whole share (and in
effect extinguishing any fractional entitlement), or the holder being entitled to hold any remaining fractional entitlement (without
any share being issued) and to aggregate the same with any future fractional entitlement to receive shares in the Company until
the holder is entitled to receive a whole number. Any rounding down and extinguishment may be done with or without any in lieu
cash payment or other compensation being made to the holder of the relevant Rights, such that value received on exchange of the
Rights may be considered less than the value that the holder would otherwise expect to receive.

 

    

     

    

 

3.3.2.              Valid Issuance.
All Ordinary Shares issued upon an Exchange Event in conformity with this Agreement shall be validly issued, fully paid and nonassessable.

 

3.3.3.              Date of Issuance.
Each person in whose name any such certificate or book-entry position for Ordinary Shares is issued shall for all purposes be deemed
to have become the holder of record of such shares on the date of the Exchange Event, irrespective of the date of delivery of such
certificate or entry of position.

 

3.3.4              Company Not
Surviving Following Exchange Event. Upon an Exchange Event in which the Company does not continue as the publicly held reporting
entity, the definitive agreement will provide for the holders of Rights to receive the same per share consideration the holders
of the Ordinary Shares will receive in such transaction, for the number of shares such holder is entitled to pursuant to Section
3.3.1 above. If the Company does not continue as the publicly held reporting entity upon an Exchange Event, each holder of a Right
will be required to affirmatively convert his/her or its rights in order to receive the 1/10 share underlying each right (without
paying any additional consideration) upon consummation of the Exchange Event. In such a case, each holder of a Right will be required
to indicate his, her or its election to convert the Rights into underlying shares as well as to return the original certificates
evidencing the Rights to the Company.

 

3.5           Duration of
Rights. If an Exchange Event does not occur within the time period set forth in the Company’s Amended and Restated Memorandum
and Articles of Association, as the same may be amended from time to time, the Rights shall expire and shall be worthless; provided
that for as long as any of the Rights sold in the Private Offering are held by the Representative or its designees or affiliates,
such Rights may not be exercised after five years from the effective date of the Registration Statement.

 

4.            Transfer and Exchange of Rights.

 

4.1.          Registration
of Transfer. The Rights Agent shall register the transfer, from time to time, of any outstanding Right upon the Right Register,
upon surrender of such Right for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate
instructions for transfer. Upon any such transfer, a new Right representing an equal aggregate number of Rights shall be issued
and the old Right shall be cancelled by the Rights Agent. The Rights so cancelled shall be delivered by the Rights Agent to the
Company from time to time upon request.

 

4.2.          Procedure for
Surrender of Rights. Rights may be surrendered to the Rights Agent, together with a written request for exchange or transfer,
and thereupon the Rights Agent shall issue in exchange therefor one or more new Rights as requested by the registered holder of
the Rights so surrendered, representing an equal aggregate number of Rights; provided, however, that in the event that a Right
surrendered for transfer bears a restrictive legend and the new Rights to be issued will not bear a restrictive legend, the Rights
Agent shall not cancel such Right and issue new Rights in exchange therefor until the Rights Agent has received an opinion of counsel
for the Company stating that such transfer may be made and indicating no restrictive legend is required.

 

    

     

    

 

4.3.          Fractional
Rights. The Rights Agent shall not be required to effect any registration of transfer or exchange which will result in the
issuance of a Right Certificate for a fraction of a Right.

 

4.4.          Service Charges.
No service charge shall be made for any exchange or registration of transfer of Rights.

 

4.5.          Adjustments
to Conversion Ratios. The number of Ordinary Shares that the holders of Rights are entitled to receive as a result of the occurrence
of an Exchange Event shall be equitably adjusted to reflect appropriately the effect of any share split, reverse share split, share
dividend, reorganization, recapitalization, reclassification, combination, exchange of shares or other like change with respect
to the Ordinary Shares occurring on or after the date hereof and prior to the Exchange Event.

 

4.6.          Right Execution
and Countersignature. The Rights Agent is hereby authorized to countersign and to deliver, in accordance with the terms of
this Agreement, the Rights required to be issued pursuant to the provisions of this Section 4, and the Company, whenever required
by the Rights Agent, will supply the Rights Agent with Rights duly executed on behalf of the Company for such purpose.

 

5.            Other Provisions Relating to Rights
of Holders of Rights.

 

5.1.          No Rights as
Shareholder. Until exchange of a Right for Ordinary Shares as provided for herein, a Right does not entitle the registered
holder thereof to any of the rights of a shareholder of the Company, including, without limitation, the right to receive dividends,
or other distributions, exercise any preemptive rights to vote or to consent or to receive notice as shareholders in respect of
the meetings of shareholders or the election of directors of the Company or any other matter.

 

5.2.          Lost, Stolen,
Mutilated, or Destroyed Rights. If any Right is lost, stolen, mutilated, or destroyed, the Company and the Rights Agent may
on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Right,
include the surrender thereof), issue a new Right of like denomination, tenor, and date as the Right so lost, stolen, mutilated,
or destroyed. Any such new Right shall constitute a substitute contractual obligation of the Company, whether or not the allegedly
lost, stolen, mutilated, or destroyed Right shall be at any time enforceable by anyone.

 

5.3.          Reservation
of Ordinary Shares. The Company shall at all times reserve and keep available a number of its authorized but unissued Ordinary
Shares that will be sufficient to permit the exchange of all outstanding Rights issued pursuant to this Agreement.

 

6.            Concerning the Rights Agent and Other
Matters.

 

6.1.          Payment of
Taxes. The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Rights
Agent in respect of the issuance or delivery of Ordinary Shares upon the exchange of Rights, but the Company shall not be obligated
to pay any transfer taxes in respect of the Rights or such Ordinary Shares.

 

6.2.          Resignation,
Consolidation, or Merger of Rights Agent.

 

6.2.1.              Appointment
of Successor Rights Agent. The Rights Agent, or any successor to it hereafter appointed, may resign its duties and be discharged
from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the
office of the Rights Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing
a successor Rights Agent in place of the Rights Agent. If the Company shall fail to make such appointment within a period of 30
days after it has been notified in writing of such resignation or incapacity by the Rights Agent or by the holder of the Right
(who shall, with such notice, submit his, her or its Right for inspection by the Company), then the holder of any Right may apply
to the Supreme Court of the State of New York for the County of New York for the appointment of a successor Rights Agent at the
Company’s cost. Any successor Rights Agent, whether appointed by the Company or by such court, shall be a corporation organized
and existing under the laws of the State of New York, in good standing and having its principal office in the Borough of Manhattan,
City and State of New York, and authorized under such laws to exercise corporate trust powers and subject to supervision or examination
by federal or state authority. After appointment, any successor Rights Agent shall be vested with all the authority, powers, rights,
immunities, duties, and obligations of its predecessor Rights Agent with like effect as if originally named as Rights Agent hereunder,
without any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Rights Agent shall
execute and deliver, at the expense of the Company, an instrument transferring to such successor Rights Agent all the authority,
powers, and rights of such predecessor Rights Agent hereunder; and upon request of any successor Rights Agent the Company shall
make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in and confirming
to such successor Rights Agent all such authority, powers, rights, immunities, duties, and obligations.

 

    

     

    

 

6.2.2.              Notice of Successor
Rights Agent. In the event a successor Rights Agent shall be appointed, the Company shall give notice thereof to the predecessor
Rights Agent and the transfer agent for the Ordinary Shares not later than the effective date of any such appointment.

 

6.2.3.              Merger or Consolidation
of Rights Agent. Any corporation into which the Rights Agent may be merged or with which it may be consolidated or any corporation
resulting from any merger or consolidation to which the Rights Agent shall be a party shall be the successor Rights Agent under
this Agreement without any further act.

 

6.3.         Fees and Expenses of Rights Agent.

 

6.3.1.              Remuneration.
The Company agrees to pay the Rights Agent reasonable remuneration for its services as such Rights Agent hereunder and will reimburse
the Rights Agent upon demand for all expenditures that the Rights Agent may reasonably incur in the execution of its duties hereunder.

 

6.3.2.              Further Assurances.
The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged, and delivered
all such further and other acts, instruments, and assurances as may reasonably be required by the Rights Agent for the carrying
out or performing of the provisions of this Agreement.

 

6.4.         Liability of
Rights Agent.

 

6.4.1.              Reliance on
Company Statement. Whenever in the performance of its duties under this Agreement, the Rights Agent shall deem it necessary
or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder,
such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively
proved and established by a statement signed by the Chief Executive Officer or Chief Financial Officer and delivered to the Rights
Agent. The Rights Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions
of this Agreement.

 

6.4.2.              Indemnity.
The Rights Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. Subject to Section
6.6 below, the Company agrees to indemnify the Rights Agent and save it harmless against any and all liabilities, including judgments,
costs and reasonable counsel fees, for anything done or omitted by the Rights Agent in the execution of this Agreement except as
a result of the Rights Agent’s gross negligence, willful misconduct, or bad faith.

 

6.4.3.              Exclusions.
The Rights Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or
execution of any Right (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any
covenant or condition contained in this Agreement or in any Right; nor shall it by any act hereunder be deemed to make any representation
or warranty as to the authorization or reservation of any Ordinary Shares to be issued pursuant to this Agreement or any Right
or as to whether any Ordinary Shares will when issued be valid and fully paid and nonassessable.

 

    

     

    

 

6.5.          Acceptance
of Agency. The Rights Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the
terms and conditions herein set forth.

 

6.6           Waiver.
The Rights Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind (“Claim”)
in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of
the date hereof, by and between the Company and the Rights Agent as trustee thereunder) and hereby agrees not to seek recourse,
reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.

 

7.            Miscellaneous Provisions.

 

7.1.          Successors.
All the covenants and provisions of this Agreement by or for the benefit of the Company or the Rights Agent shall bind and inure
to the benefit of their respective successors and assigns.

 

7.2.          Notices.
Any notice, statement or demand authorized by this Agreement to be given or made by the Rights Agent or by the holder of any Right
to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail
or private courier service within five days after deposit of such notice, postage prepaid, addressed (until another address is
filed in writing by the Company with the Rights Agent), as follows:

 

Greenland
Acquisition Corporation

Suite 906,
Tower W1, Oriental Plaza, No. 1 East Chang’an Street

Dongcheng District, Beijing

People’s
Republic of China

Attn: Yanming
Liu, Chief Executive Officer

 

Any notice, statement or demand authorized
by this Agreement to be given or made by the holder of any Right or by the Company to or on the Rights Agent shall be sufficiently
given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five days
after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Rights Agent with the
Company), as follows:

 

Continental Stock Transfer &
Trust Company

One State Street, 30th
Floor

New York, New York 10004

Attn: Compliance Department

 

with a copy to:

Ellenoff Grossman & Schole,
LLP

1345 Avenue of the Americas

New York, NY 10105

Attn: Stuart Neuhauser, Esq.

 

and

 

Loeb & Loeb

345 Park Avenue

New York, New York 10154

Attn: Mitchell S. Nussbaum, Esq.
and Giovanni Caruso, Esq.

 

and

 

Ogier

Ritter House, 6th Floor

Wickhams Cay II

PO Box 3170

Road Town, Tortola

British Virgin Islands, VG1110

Attn: Michael Killourhy

 

    

     

    

 

and

 

Chardan Capital Markets, LLC

17 State Street, Suite 1600

New York, New York 10004

Attn: George Kaufman

 

7.3.          Applicable
Law. The validity, interpretation, and performance of this Agreement and of the Rights shall be governed in all respects by
the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of
the substantive laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim against it arising
out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United
States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall
be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient
forum. Any such process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or
certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section 7.2 hereof. Such
mailing shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim.

 

7.4.          Persons Having
Rights under this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the provisions
hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto
and the registered holders of the Rights and, for the purposes of Sections 7.4 and 7.8 hereof, the Representative, any right, remedy,
or claim under or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. The Representative
shall be deemed to be a third-party beneficiary of this Agreement with respect to Sections 7.4 and 7.8 hereof. All covenants, conditions,
stipulations, promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto
(and the Representative with respect to the Sections 7.4 and 7.8 hereof) and their successors and assigns and of the registered
holders of the Rights. The provisions of this Section 7.4 may not be modified, amended or deleted without the prior written consent
of the Representative.

 

7.5.          Examination
of the Right Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Rights Agent
in the Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Right. The Rights Agent
may require any such holder to submit his, her or its Right for inspection by it.

 

7.6.          Counterparts.
This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all
purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

7.7.          Effect of Headings.
The Section headings herein are for convenience only and are not part of this Agreement and shall not affect the interpretation
thereof.

 

7.8           Amendments.
This Agreement may be amended by the parties hereto without the consent of any registered holder for the purpose of curing any
ambiguity, or of curing, correcting or supplementing any defective provision contained herein or adding or changing any other provisions
with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties
deem shall not adversely affect the interest of the registered holders. All other modifications or amendments shall require the
written consent or vote of the registered holders of a majority of the then outstanding Rights. The provisions of this Section
7.8 may not be modified, amended or deleted without the prior written consent of the Representative.

 

    

     

    

 

7.9           Severability.
This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect
the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid
or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision
as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

[Signature Page Follows]

 

    

     

    

 

IN WITNESS WHEREOF, this Agreement has been
duly executed by the parties hereto as of the day and year first above written.

 

	 	GREENLAND ACQUISITION CORPORATION

 

	 	By:	/s/ Yanming Liu
	 	 	Name: Yanming Liu
	 	 	Title: Chief Executive Officer 

 

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY

 

	 	By:	/s/ Ana Gois
	 	 	Name: Ana Gois
	 	 	Title: Vice President

 

[Signature Page to Rights Agreement]Exhibit 10.1

 

 

INVESTMENT
MANAGEMENT TRUST AGREEMENT

 

This
Agreement is made as of July 24, 2018 by and between Greenland Acquisition Corporation (the “Company”) and Continental
Stock Transfer & Trust Company (“Trustee”).

 

WHEREAS,
the Company’s registration statement on Form S-1, No. 333-226001 (“Registration Statement”) for its initial
public offering of securities (“IPO”) has been declared effective as of the date hereof (“Effective Date”)
by the Securities and Exchange Commission (capitalized terms used herein and not otherwise defined shall have the meanings set
forth in the Registration Statement); and

 

WHEREAS,
Chardan Capital Markets, LLC (“Chardan”) is acting as the representative of the underwriters in the IPO pursuant to
an underwriting agreement between the Company and Chardan, as representative of the underwriters (“Underwriting Agreement”);
and

 

WHEREAS,
the Company initially has 12 months from the consummation of the IPO (the “Initial Period”) to consummate an initial
business combination (as described in the Registration Statement, a “Business Combination”); and

 

WHEREAS,
if a Business Combination is not consummated within the Initial Period, Greenland Asset Management Corporation (the “Sponsor”)
may extend such period up to three times, each by a three-month period, up to a maximum of 21 months in the aggregate, by depositing
$400,000 (or $460,000 if the underwriters’ over-allotment option is exercised in full, plus any amount eventually deposited
on account of any Extension) into the Trust Account no later than the 12 month anniversary of the IPO, the 15 month anniversary
of the IPO or the 18 month anniversary of the IPO (each, an “Applicable Deadline”) for each three month extension
(each, an “Extension”) for up to an aggregate of $1,200,000 (or $1,380,000 if the underwriters’ over-allotment
option is exercised in full); and

 

WHEREAS,
simultaneously with the IPO, the Sponsor and Chardan, and or their respective designees (collectively, the “Private Purchasers”)
will be purchasing an aggregate of 270,000 units (“Initial Private Units”) from the Company for an aggregate purchase
price of $2,700,000; and 

 

WHEREAS,
in the event the underwriters exercise their over-allotment option in full or in part, the Sponsor and Chardan will purchase up
to an aggregate of an additional 18,000 units (“Over-Allotment Private Units,” together with the Initial Private Units,
the “Private Units”) for an aggregate purchase price of up to $180,000; and 

 

WHEREAS,
as described in the Registration Statement, and in accordance with the Company’s Amended and Restated Memorandum and Articles
of Association, $40,000,000 of the net proceeds of the IPO and sale of the Private Units ($46,000,000 if the underwriters’
over-allotment option is exercised in full) will be delivered to the Trustee to be deposited and held in a trust account for the
benefit of the Company and the holders of the Company’s ordinary shares, no par value per share (“Ordinary Shares”),
issued in the IPO as hereinafter provided (the amounts to be delivered to the Trustee, including any amount deposited in connection
with any Extension, will be referred to herein as the “Property”; the shareholders for whose benefit the Trustee shall
hold the Property will be referred to as the “Public Shareholders,” and the Public Shareholders and the Company will
be referred to together as the “Beneficiaries”); and

 

WHEREAS,
pursuant to the Underwriting Agreement, a portion of the Property, up to $1,600,000 (or $1,840,000 if the underwriters’
over-allotment option is exercised in full), subject to adjustment in accordance with the Underwriting Agreement, is attributable
to deferred underwriting discounts and commissions that may become payable by the Company to the underwriters upon the consummation
of a Business Combination (the “Deferred Discount”); and

 

WHEREAS,
the Company and the Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee
shall hold the Property.

 

    

     

    

 

IT
IS AGREED:   

 

	 	1.	Agreements
    and Covenants of Trustee. The Trustee hereby agrees and covenants to:

 

(a)     Hold
the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in a segregated trust account (“Trust
Account”) established by the Trustee at JP Morgan Chase Bank, NA located in the United States and at a brokerage institution
selected by the Trustee that is satisfactory to the Company;

 

(b)     Manage,
supervise and administer the Trust Account subject to the terms and conditions set forth herein;

 

(c)     In
a timely manner, upon the written instruction of the Company, invest and reinvest the Property in United States “government
securities” within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment
Company Act”), having a maturity of 180 days or less, and/or in any open ended investment company registered under the Investment
Company Act that holds itself out as a money market fund selected by the Company meeting the conditions of paragraphs (d)(1),
(d)(2), (d)(3), and (d)(4) of Rule 2a-7 promulgated under the Investment Company Act, which invest only in direct U.S. government
treasury obligations; it being understood that the Trust Account will earn no interest while account funds are uninvested awaiting
the Company’s instructions hereunder and the Trustee may earn bank credits or other consideration; 

 

(d)     Collect
and receive, when due, all principal, interest or other income arising from the Property, which shall become part of the “Property,”
as such term is used herein;

 

(e)     Promptly
notify the Company and Chardan of all communications received by the Trustee with respect to any Property requiring action by
the Company;  

 

(f)      Supply
any necessary information or documents as may be requested by the Company in connection with the Company’s preparation of
its tax returns;

 

(g)     Participate
in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when instructed
by the Company to do so;

 

(h)     Render
to the Company monthly written statements of the activities of and amounts in the Trust Account reflecting all receipts and disbursements
of the Trust Account;

 

(i)      Commence
liquidation of the Trust Account only after and promptly after receipt of, and only in accordance with, the terms of a letter
(“Termination Letter”), in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B,
signed on behalf of the Company by its Chief Executive Officer or Chairman of the Board and Secretary or Assistant Secretary,
affirmed by counsel for the Company and complete the liquidation of the Trust Account and distribute the Property in the Trust
Account, including interest (which interest shall be net of any taxes payable and up to $50,000 of interest that may be released
to the Company to pay dissolution expenses, if applicable, it being understood that the Trustee has no obligation to monitor or
question the Company’s position that an allocation has been made for taxes payable), only as directed in the Termination
Letter and the other documents referred to therein; provided, however, that in the event that a Termination Letter has not been
received by the Trustee by the last date set forth in the Company’s Amended and Restated Memorandum and Articles of Association,
as the same may be amended from time to time (the “Last Date”), the Trust Account shall be liquidated in accordance
with the procedures set forth in the Termination Letter attached as Exhibit B hereto and the Property in the Trust Account, including
interest (which interest shall be net of any taxes payable and less up to $50,000 of interest that may be released to the Company
to pay dissolution expenses, if applicable), shall be distributed to the Public Shareholders as of the Last Date;

 

(j)
    Upon receipt of an Amendment Notification Letter (defined below), distribute to Public Shareholders
who exercised their redemption rights in connection with an Amendment (defined below) an amount equal to the pro rata share of
the Property relating to the shares for which such Public Stockholders have exercised redemption rights in connection with such
Amendment; and

 

    

     

    

 

(k)    
Upon receipt of an extension letter (“Extension Letter”) substantially similar to Exhibit F hereto at least five days
prior to the Applicable Deadline, signed on behalf of the Company by one of the Company’s executive officers and affirmed
by counsel for the Company, and receipt of the dollar amount specified in the Extension Letter on or prior to the Applicable Deadline,
to follow the instructions set forth in the Extension Letter.   

 

	 	2.	Limited Distributions
    of Income from Trust Account.

 

(a)     Upon
written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto
as Exhibit C, the Trustee shall distribute to the Company the amount of interest income earned on the Trust Account requested
by the Company to cover any tax obligation owed by the Company.

 

(b)     Upon
written request from the Company following the Last Date, which may be given in a form substantially similar to that attached
hereto as Exhibit D, signed on behalf of the Company by one of the Company’s executive officers, the Trustee shall distribute
to the Company up to $50,000 of interest income earned on the Property and requested by the Company to cover expenses directly
related to the Company’s liquidation (i.e., only those expenses incurred after the Last Date attributable to the Company’s
liquidation); provided, however, that the Company will not be allowed to withdraw interest income earned on the trust account
pursuant to this Section 2(b) unless there are sufficient funds available to pay the Company’s tax obligations on such interest
income or otherwise then due at that time.

 

(c)     The
limited distributions referred to in Sections 2(a) and 2(b) above shall be made only from income collected on the Property. Except
as provided in Sections 2(a) and 2(b) above, no other distributions from the Trust Account shall be permitted except in accordance
with Section 1(i) or 1(j) hereof.

 

(d)     The
Company shall provide Chardan with a copy of any Termination Letters and/or any other correspondence that it issues to the Trustee
with respect to any proposed withdrawal from the Trust Account promptly after such issuance.  

 

	 	3.	Agreements and
    Covenants of the Company. The Company hereby agrees and covenants to:

 

(a)     Give
all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, Vice Chairman of the
Board, Chief Executive Officer, President or Chief Financial Officer. In addition, except with respect to its duties under paragraphs
1(i), 1(j), 1(k), 2(a) and 2(b) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal
or telephonic advice or instruction which it in good faith believes to be given by any one of the persons authorized above to
give written instructions, provided that the Company shall promptly confirm such instructions in writing;

 

(b)     Subject
to the provisions of Sections 5 and 7(g) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against,
any and all expenses, including reasonable counsel fees and disbursements, or loss suffered by the Trustee in connection with
any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection
with any claim or demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or
the Property or any income earned from investment of the Property, except for expenses and losses resulting from the Trustee’s
gross negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement
of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this paragraph, it shall
notify the Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”). The Trustee shall
have the right to conduct and manage the defense against such Indemnified Claim, provided, that the Trustee shall obtain the consent
of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not
agree to settle any Indemnified Claim without the prior written consent of the Company, which consent shall not be unreasonably
withheld. The Company may participate in such action with its own counsel;

 

(c)     Pay
the Trustee an initial acceptance fee and an annual fee as set forth on Schedule A hereto, which fees shall be subject to modification
by the parties from time to time. It is expressly understood that the Property shall not be used to pay such fees and further
agreed that any fees owed to the Trustee shall be deducted by the Trustee from the disbursements made to the Company pursuant
to Section 1(i) solely in connection with the consummation of a Business Combination. Otherwise, fees and disbursements shall
be paid by the Company from other funds held outside the Trust Account. The Company shall pay the Trustee the initial acceptance
fee and first year’s fee at the consummation of the IPO and thereafter on the anniversary of the Effective Date;

 

    

     

    

 

(d)     In
connection with any vote of the Company’s shareholders regarding a Business Combination, provide to the Trustee an affidavit
or certificate of a firm regularly engaged in the business of tabulating shareholder votes verifying the vote of the Company’s
shareholders regarding such Business Combination;

 

(e)     In
the event that the Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section 1(i), the Company
agrees that it will not direct the Trustee to make any payments that are not specifically authorized by this Agreement;

 

(f)      Within
five business days after Chardan, on behalf of the underwriters in the IPO, exercise the over-allotment option (or any unexercised
portion thereof) or such over-allotment option expires, provide the Trustee with a notice in writing (with a copy to Chardan)
of the total amount of the Deferred Discount (as adjusted in accordance with the Underwriting Agreement);

 

(g)     If
the Company seeks to amend any provisions of its Memorandum and Articles of Association relating to shareholders’ rights
or pre-Business Combination activity (including the substance and time within which the Company has to complete a Business Combination)
(in each case, an “Amendment”), the Company will provide the Trustee with a letter (an “Amendment Notification
Letter”) in the form of Exhibit E providing instructions for the distribution of funds to Public Stockholders who exercise
their redemption option in connection with such Amendment;

 

(h)     If applicable, issue a press release at least three days prior to the Applicable Deadline announcing that, at least five days
prior to the Applicable Deadline, the Company received notice from the Sponsor that the Sponsor intends to extend the Applicable
Deadline; and

 

(i)      Promptly following the Applicable Deadline, disclose whether or not the term the Company has to consummate a Business Combination
has been extended.

 

	 	4.	Limitations of
    Liability. The Trustee shall have no responsibility or liability to:

 

(a)     Take
any action with respect to the Property, other than as directed in paragraphs 1 and 2 hereof and the Trustee shall have no liability
to any party except for liability arising out of its own gross negligence or willful misconduct;

 

(b)     Institute
any proceeding for the collection of any principal and income arising from, or institute, appear in or defend any proceeding of
any kind with respect to, any of the Property unless and until it shall have received instructions from the Company given as provided
herein to do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any expenses incident thereto;

 

(c)     Change
the investment of any Property, other than in compliance with paragraph 1(c);

 

(d)     Refund
any depreciation in principal of any Property;

 

(e)     Assume
that the authority of any person designated by the Company to give instructions hereunder shall not be continuing unless provided
otherwise in such designation, or unless the Company shall have delivered a written revocation of such authority to the Trustee;

 

(f)      The
other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted,
in good faith and in the exercise of its own best judgment, except for its gross negligence, fraud or willful misconduct. The
Trustee may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion or advice
of counsel (including counsel chosen by the Trustee), statement, instrument, report or other paper or document (not only as to
its due execution and the validity and effectiveness of its provisions, but also as and with reasonable care to the truth and
acceptability of any information therein contained) which is believed by the Trustee, in good faith, to be genuine and to be signed
or presented by the proper person or persons. The Trustee shall not be bound by any notice or demand, or any waiver, modification,
termination or rescission of this Agreement or any of the terms hereof, unless evidenced by a written instrument delivered to
the Trustee signed by the proper party or parties and, if the duties or rights of the Trustee are affected, unless it shall give
its prior written consent thereto;  

 

    

     

    

 

(g)     Verify
the correctness of the information set forth in the Registration Statement or to confirm or assure that any acquisition made by
the Company or any other action taken by it is as contemplated by the Registration Statement; and

 

(h)     File
local, state and/or Federal tax returns or information returns with any taxing authority on behalf of the Trust Account and payee
statements with the Company documenting the taxes, if any, payable by the Company or the Trust Account, relating to the income
earned on the Property.

 

(i)      Pay
any taxes on behalf of the Trust Account (it being expressly understood that the Property, other than accrued interest to the
extent otherwise provided by this Agreement, shall not be used to pay any such taxes and that such taxes, if any, shall be paid
by the Company from funds not held in the Trust Account or released to it under Section 2(a) hereof).

 

(j)      Imply
obligations, perform duties, inquire or otherwise be subject to the provisions of any agreement or document other than this agreement
and that which is expressly set forth herein.

 

(k)     Verify
calculations, qualify or otherwise approve Company requests for distributions pursuant to Section 1(i), 1(j), 2(a) or 2(b) above.

 

5.             Trust
Account Waiver. The Trustee has no right of set-off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account
that it may have now or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including,
without limitation, under Section 3(b) or Section 3(c) hereof, the Trustee shall pursue such Claim solely against the Company
and its assets outside the Trust Account and not against the Property or any monies in the Trust Account 

 

	 	6.	Termination.
    This Agreement shall terminate as follows:

 

(a)     If
the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable
efforts to locate a successor trustee during which time the Trustee shall act in accordance with this Agreement. At such time
that the Company notifies the Trustee that a successor trustee has been appointed by the Company and has agreed to become subject
to the terms of this Agreement, the Trustee shall transfer the management of the Trust Account to the successor trustee, including
but not limited to the transfer of copies of the reports and statements relating to the Trust Account, whereupon this Agreement
shall terminate; provided, however, that, in the event that the Company does not locate a successor trustee within ninety days
of receipt of the resignation notice from the Trustee, the Trustee may submit an application to have the Property deposited with
any court in the State of New York or with the United States District Court for the Southern District of New York and upon such
deposit, the Trustee shall be immune from any liability whatsoever; or

 

(b)     At
such time that the Trustee has completed the liquidation of the Trust Account in accordance with the provisions of paragraph 1(i)
hereof, and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate
except with respect to Paragraph 3(b).

 

	 	7.	Miscellaneous.

 

(a)      The
Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to
funds transferred from the Trust Account. The Company and the Trustee will each restrict access to confidential information relating
to such security procedures to authorized persons. Each party must notify the other party immediately if it has reason to believe
unauthorized persons may have obtained access to such information, or of any change in its authorized personnel. In executing
funds transfers, the Trustee will rely upon all information supplied to it by the Company, including account names, account numbers
and all other identifying information relating to a beneficiary, beneficiary’s bank or intermediary bank. Except for any
liability arising out of the Trustee’s gross negligence, fraud or willful misconduct, the Trustee shall not be liable for
any loss, liability or expense resulting from any error in the information or transmission of the wire.

 

    

     

    

 

(b)     This
Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, applicable to
contracts wholly performed within the borders of such states and without giving effect to conflicts of law principles that would
result in the application of the substantive laws of another jurisdiction.  It may be executed in several original or
facsimile counterparts, each one of which shall constitute an original, and together shall constitute but one instrument. The
Company hereby appoints, without power of revocation, Ellenoff Grossman & Schole LLP, 1345 Avenue of the Americas, New York,
New York 10105, Fax No.: (212) 370-7889, Attn: Stuart Neuhauser, Esq., as their respective agent to accept and acknowledge on
its behalf service of any and all process which may be served in any arbitration, action, proceeding or counterclaim in any way
relating to or arising out of this Agreement. The Company further agrees to take any and all action as may be necessary to maintain
such designation and appointment of such agent in full force and effect for a period of seven years from the date of this Agreement.

 

(c)     This
Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except
for Sections 1(i), 1 (j), 1(k), 2(a) and 2(c) (which may not be modified, amended or deleted without the affirmative vote of at
least 65% of the then outstanding Ordinary Shares attending and voting on such amendment at the relevant meeting; provided that
no such amendment will affect any Public Shareholder who has otherwise indicated his election to redeem his, her or its Ordinary
Shares in connection with a shareholder vote sought to amend this Agreement to extend to the time he, she or its would be entitled
to a return of his pro rata amount in the Trust Account), this Agreement or any provision hereof may only be changed, amended
or modified (other than to correct a typographical error) by a writing signed by each of the parties hereto; provided, however,
that no such change, amendment or modification may be made without the prior written consent of Chardan. As to any claim, cross-claim
or counterclaim in any way relating to this Agreement, each party waives the right to trial by jury. The Trustee may require from
Company counsel an opinion as to the propriety of any proposed amendment.

 

(d)     The
parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, Borough of
Manhattan, for purposes of resolving any disputes hereunder.

 

(e)     Any
notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery
or by facsimile transmission:

 

if
to the Trustee, to:

 

Continental
Stock Transfer &Trust Company

One
State Street, 30th Floor

New
York, New York 10004

Attn:
Steven Nelson and Francis E. Wolf, Jr.

 

if
to the Company, to:

 

Greenland
Acquisition Corporation

Suite
906, Tower W1, Oriental Plaza, No. 1 East Chang’an Street

Dongcheng
District, Beijing

People’s
Republic of China

Attn:
Yanming Liu, Chief Executive Officer

 

    

     

    

 

in
either case with a copy to:

 

Chardan
Capital Markets, LLC

17
State Street, Suite 1600

New
York, New York 10004

Attn:
George Kaufman

 

and  

 

Ellenoff
Grossman & Schole LLP

1345
Avenue of the Americas

New
York, NY 10105

Attn:
Stuart Neuhauser, Esq.

 

(f)      This
Agreement may not be assigned by the Trustee without the prior consent of the Company.

 

(g)     Each
of the Trustee and the Company hereby represents that it has the full right and power and has been duly authorized to enter into
this Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that it
shall not make any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled to any
funds in the Trust Account under any circumstance. In the event that the Trustee has a claim against the Company under this Agreement,
the Trustee will pursue such claim solely against the Company and not against the Property held in the Trust Account.

 

(h)     This
Agreement is the joint product of the Trustee and the Company and each provision hereof has been subject to the mutual consultation,
negotiation and agreement of such parties and shall not be construed for or against any party hereto.

 

(i)      This
Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts
shall together constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or electronic
transmission shall constitute valid and sufficient delivery thereof.

 

(j)      Each
of the Company and the Trustee hereby acknowledges that Chardan, on behalf of the several underwriters, is a third party beneficiary
of this Agreement.

 

[Signature
Page Follows]

 

    

     

    

 

IN
WITNESS WHEREOF, the parties have duly executed this Investment Management Trust Agreement as of the date first written above.

 

	 	CONTINENTAL STOCK TRANSFER
    & TRUST COMPANY, as Trustee

 

	 	By:	 /s/
    Francis E. Wolf Jr.
	 	 	Name: Francis E. Wolf Jr.
	 	 	Title:  Vice President

 

	 	GREENLAND ACQUISITION CORPORATION

 

	 	By:	 /s/
    Yanming Liu
	 	 	Name: Yanming Liu
	 	 	Title: Chief Executive Officer

 

[Signature
Page to Investment Management Trust Agreement]

 

    

     

    

 

SCHEDULE
A

 

	Fee
    Item	 	Time
    and method of payment	 	Amount
	Initial
    acceptance fee	 	Trust
    agreement negotiation, completion of Know Your Customer review, account set-up, and initial closing of IPO by wire transfer,
    set up and monitoring of the required principal crediting beginning year 2.	 	$3,500
	Annual
    fee	 	First
    year, initial closing of IPO by wire transfer; thereafter on the anniversary of the effective date of the IPO by wire transfer
    or check	 	$10,000
	Transaction
    processing fee for disbursements to Company under Section 2	 	Deduction
    by Trustee from accumulated income following disbursement made to Company under Section 2	 	$250
	Paying
    Agent services as required pursuant to section 1(i)	 	Billed
    to Company upon delivery of service pursuant to Section 1(i)	 	Prevailing rates 

  

    

     

    

 

EXHIBIT
A

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer

&Trust
Company

One
State Street, 30th Floor

New
York, New York 10004

Attn: Steven
Nelson and Francis E. Wolf, Jr.

 

	 	Re:	Trust Account
    No. –[_____] Termination Letter

 

Gentlemen:

 

Pursuant
to paragraph 1(i) of the Investment Management Trust Agreement between Greenland Acquisition Corporation (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of July , 2018 (“Trust Agreement”),
this is to advise you that the Company has entered into an agreement (“Business Agreement”) with __________________
(“Target Business”) to consummate a business combination with Target Business (“Business Combination”)
on or about [insert date]. The Company shall notify you at least 48 hours in advance of the actual date (or such shorter
time as you may agree) of the consummation of the Business Combination (“Consummation Date”). Capitalized terms used
herein and not otherwise defined shall have the meanings set forth in the Trust Agreement.

 

In
accordance with the terms of the Trust Agreement, we hereby authorize you to liquidate the Trust Account investments on __________
and to transfer the proceeds to the above-referenced account at JP Morgan Chase Bank to the effect that, on the Consummation Date,
all of funds held in the Trust Account will be immediately available for transfer to the account or accounts that Chardan (with
respect to the Deferred Discount) and the Company shall direct on the Consummation Date. It is acknowledged and agreed that while
the funds are on deposit in the trust account awaiting distribution, neither Chardan nor the Company will earn any interest or
dividends.

 

On
the Consummation Date (i) counsel for the Company shall deliver to you written notification that the Business Combination has
been consummated, and (ii) the Company shall deliver to you (a) [an affidavit] [a certificate] of __________________, which verifies
the vote of the Company’s shareholders in connection with the Business Combination if a vote is held and (b) joint written
instructions from it and Chardan with respect to the transfer of the funds held in the Trust Account (“Instruction Letter”),
including payment of the Deferred Discount from the Trust Account. You are hereby directed and authorized to transfer the funds
held in the Trust Account immediately upon your receipt of the counsel’s letter and the Instruction Letter, (x) to Chardan in
an amount equal to the Deferred Discount (as adjusted in accordance with the Underwriting Agreement) as directed by Chardan and
(y) the remainder in accordance with the terms of the Instruction Letter. In the event that certain deposits held in the Trust
Account may not be liquidated by the Consummation Date without penalty, you will notify the Company of the same and the Company
shall direct you as to whether such funds should remain in the Trust Account and distributed after the Consummation Date to the
Company. Upon the distribution of all the funds in the Trust Account pursuant to the terms hereof, the Trust Agreement shall be
terminated.

 

In
the event that the Business Combination is not consummated on the Consummation Date described in the notice thereof and we have
not notified you on or before the original Consummation Date of a new Consummation Date, then upon receipt by the Trustee of written
instructions from the Company, the funds held in the Trust Account shall be reinvested as provided in the Trust Agreement on the
business day immediately following the Consummation Date as set forth in the notice.  

 

    

     

    

 

	 	Very truly yours,
	 	 
	 	GREENLAND ACQUISITION CORPORATION

 

	 	By: 	 

  

 

	And  	 
	AGREED TO AND	 
	ACKNOWLEDGED BY	 
	 	 
	CHARDAN CAPITAL MARKETS, LLC	 

 

	By:	 	 

 

    

     

    

 

EXHIBIT
B

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer

&Trust
Company

One
State Street, 30th Floor

New
York, New York 10004

Attn: Steven
Nelson and Francis E. Wolf, Jr.

 

	 	Re:	Trust Account
    No. [insert no.]___ - Termination Letter

 

Gentlemen:

 

Pursuant
to paragraph 1(i) of the Investment Management Trust Agreement between Greenland Acquisition Corporation (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of July , 2018 (“Trust Agreement”), this
is to advise you that the Company has been unable to effect a Business Combination with a Target Company within the time frame
specified in the Company’s Amended and Restated Memorandum and Articles of Association, as described in the Company’s
prospectus relating to its IPO. Capitalized terms used herein and not otherwise defined shall have the meanings set forth
in the Trust Agreement.

 

In
accordance with the terms of the Trust Agreement, we hereby authorize you to liquidate all the Trust Account investments on ______________
and to transfer the total proceeds to the Trust Checking Account at JP Morgan Chase Bank, NA to await distribution to the Public
Shareholders. The Company has selected ____________, 20__ as the record date for the purpose of determining the Public Shareholders
entitled to receive their share of the liquidation proceeds. It is acknowledged that no interest will be earned by the Company
on the liquidation proceeds while on deposit in the Trust Checking Account. You agree to be the Paying Agent of record and in
your separate capacity as Paying Agent, to distribute said funds directly to the Public Shareholders in accordance with the terms
of the Trust Agreement and the Amended and Restated Memorandum and Articles of Association of the Company. Upon the distribution
of all the funds in the Trust Account, your obligations under the Trust Agreement shall be terminated.

 

	 	Very truly yours,
	 	 
	 	GREENLAND ACQUISITION CORPORATION

 

	 	By:	 

 

cc:
 Chardan Capital Markets, LLC

 

    

     

    

 

EXHIBIT
C

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer

&Trust
Company

One
State Street, 30th Floor 

New
York, New York 10004

Attn: Francis
E. Wolf, Jr. and Celeste Gonzalez

 

	 	Re:	Trust Account No. [insert no.]___

 

Gentlemen:

 

Pursuant
to paragraph 2(a) of the Investment Management Trust Agreement between Greenland Acquisition Corporation (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of July , 2018 (“Trust Agreement”), the
Company hereby requests that you deliver to the Company $_______ of the interest income earned on the Property as of the date
hereof. The Company needs such funds to pay for its tax obligations. In accordance with the terms of the Trust Agreement, you
are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the
Company’s operating account at:

 

	[WIRE
    INSTRUCTION INFORMATION]

 

	 	GREENLAND ACQUISITION CORPORATION

 

	 	By:	 

 

	cc:
    Chardan Capital Markets, LLC

 

    

     

    

 

EXHIBIT
D

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer

&Trust
Company

One
State Street, 30th Floor

New
York, New York 10004

Attn:
Steven Nelson and Francis E. Wolf, Jr.

 

Re:
    Trust Account No. [______]

 

Gentlemen:

 

Pursuant
to Section 2(b) of the Investment Management Trust Agreement between Greenland Acquisition Corporation (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of July , 2018 (“Trust Agreement”),
the Company hereby requests that you deliver to the Company $[          ]
of the interest income earned on the Property as of the date hereof, which does not exceed, in the aggregate with all such prior
disbursements pursuant to Section 2(b), if any, the maximum amount set forth in Section 2(b). The Company needs such funds to
pay its expenses relating to its liquidation. In accordance with the terms of the Trust Agreement, you are hereby directed and
authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the Company’s operating
account at:

 

[WIRE
INSTRUCTION INFORMATION]

 

	Very truly yours,	 
	 	 
	GREENLAND ACQUISITION CORPORATION	 

 

	By:	 	 

 

cc:
Chardan Capital Markets, LLC

 

    

     

    

 

EXHIBIT
E

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer

&Trust
Company

One
State Street, 30th Floor

New
York, New York 10004

Attn:
Steven Nelson and Francis E. Wolf, Jr.  

 

Re:
    Trust Account No. [______]

 

Gentlemen:

 

Reference
is made to the Investment Management Trust Agreement between Greenland Acquisition Corporation (“Company”) and Continental
Stock Transfer & Trust Company, dated as of July          , 2018 (“Trust Agreement”). Capitalized words used herein and
not otherwise defined shall have the meanings ascribed to them in the Trust Agreement.

 

Pursuant
to Sections 1(j) and 3(g) of the Trust Agreement, this is to advise you that the Company has sought an Amendment. Accordingly,
in accordance with the terms of the Trust Agreement, we hereby authorize you to liquidate a sufficient portion of the Trust Account
on [ ] in order to transfer $_____ of the proceeds of the Trust to the Trust Checking Account at JP Morgan Chase Bank, NA for
distribution to the shareholders that have requested redemption of their shares in connection with such Amendment.

 

	[WIRE INSTRUCTION INFORMATION]	 

 

	 	Very truly yours,
	 	 
	 	GREENLAND ACQUISITION CORPORATION

 

	 	By:	 

 

cc:
Chardan Capital Markets, LLC

 

    

     

    

 

EXHIBIT
F

 

[Letterhead
of Company]

 

[Insert
date]

 

Continental
Stock Transfer & Trust Company

1
State Street Plaza, 30th Floor

New
York, NY 10004-1561

Attn: Steven Nelson and Francis E. Wolf, Jr. 

 

	 	Re:	Trust Account
    No. [            ] Extension Letter

 

Gentlemen:

 

Pursuant
to Section 1(k) of the Investment Management Trust Agreement between Greenland Acquisition Corporation (“Company”)
and Continental Stock Transfer & Trust Company, dated as of [______], 2018 (“Trust Agreement”), this is to advise
you that the Company is extending the time available in order to consummate a Business Combination with the Target Businesses
for an additional three (3) months, from _______ to _________ (the “Extension”).

 

This
Extension Letter shall serve as the notice required with respect to Extension prior to the Applicable Deadline. Capitalized words
used herein and not otherwise defined shall have the meanings ascribed to them in the Trust Agreement.

 

In
accordance with the terms of the Trust Agreement, we hereby authorize you to deposit $_____, which will be wired to you, into
the Trust Account upon receipt. These funds should be invested in [__________________________] or [the same manner as the funds
currently on deposit in the Trust Account].

 

This
is the ____ of up to three Extension Letters that the Company is permitted to deliver to you pursuant to the Trust Agreement. 

 

	 	Very truly yours,
	 	 
	 	GREENLAND ACQUISITION CORPORATION

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	cc:	Chardan Capital Markets,
    LLC

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