Document:

PLACEMENT WARRANT PURCHASE AGREEMENT

 

PLACEMENT WARRANT PURCHASE AGREEMENT
(this “Agreement”) made as of this ___ day of _____, 2012 among CIS Acquisition Ltd., a British Virgin Islands company
(the “Company”), and the undersigned parties listed under Purchasers on the signature page hereto (each, a “Purchaser”
and collectively, the “Purchasers”).

 

WHEREAS, the Company has filed
with the Securities and Exchange Commission (“SEC”) a registration statement on Form F-1, as amended (File No.
333-180224) (the “Registration Statement”), in connection with the Company’s initial public offering (the
“IPO”) of up to 4,000,000 units, each unit (“Unit”) consisting of one (1) Class A Share of the
Company, $0.0001 par value (the “Class A Shares”), and (ii) one (1) warrant (the “Warrants”) to
purchase one ordinary share; and

 

WHEREAS, the Company desires to sell
in a private placement to the Purchasers (the “Placement”) an aggregate of 4,500,000 Warrants (the “Placement
Warrants”) substantially identical to the Warrants being issued in the IPO pursuant to the terms and conditions hereof and
as set forth in the Registration Statement, except that the Placement Warrants to be issued in the Placement shall not be registered
under the Securities Act of 1933, as amended (the “Securities Act”);

 

WHEREAS, the Placement Warrants shall
be governed by the Warrant Agreement filed as an exhibit to the Registration Statement (the “Warrant Agreement”); and

 

WHEREAS, the Purchasers are entitled
to registration rights with respect to the Placement Warrants and the shares of common stock underlying such Placement Warrants
(collectively, the “Registrable Securities”) on the terms set forth in the Registration Rights Agreement filed as an
exhibit to the Registration Statement.

 

NOW, THEREFORE, for and in consideration
of the premises and the mutual covenants hereinafter set forth, the parties hereto do hereby agree as follows:

 

1.          Purchase
of Placement Warrants. The Purchasers hereby agree, directly or through nominees, to purchase an aggregate of 4,500,000
Placement Warrants at a purchase price of $0.75 per Placement Warrant, or an aggregate of $3,375,000 (the “Purchase Price”).

 

2.          Closing.
The closing of the purchase and sale of the Placement Warrants (the “Closing”) will take place at such time and place
as the parties may agree (the “Closing Date”), but in no event later than immediately prior to the closing of the IPO.
At least 24 hours prior to the date on which the SEC declares the Registration Statement effective (the “Effective Date”),
the Purchasers shall pay the Purchase Price by wire transfer of funds to an account maintained by Loeb & Loeb LLP (“Loeb”),
counsel for the Company. Prior to the closing of the IPO, Loeb shall deposit the Purchase Price into the trust account described
in the Registration Statement (the “Trust Account”). The certificate for the Warrants comprising the Placement Warrants
shall be delivered to the Purchasers promptly after the closing of the IPO.

 

3.          Redemption.
The Placement Warrants shall not be redeemable.

 

4.          Cashless
Exercise. The Placement Warrants may be exercised on a cashless basis any time while they are exercisable and prior to their
expiration in accordance with the terms set out in the Warrant Agreement.

 

5.          Lock-Up
of Placement Warrants. The Placement Warrants shall be subject to certain transfer restrictions from the Effective Date
until the earlier of the consummation by the Company of an Acquisition Transaction or, if the Acquisition
Transaction is completed without granting the Company’s shareholders redemption rights in connection with such
Acquisition Transaction, the consummation of a post-acquisition tender offer (the “Warrant Lock-Up Period”) and
the certificates representing the Placement Warrants shall bear the following restrictive legends:

 

THE SECURITIES REPRESENTED BY THIS
CERTIFICATE (INCLUDING THE ORDINARY SHARES OF THE COMPANY ISSUABLE UPON EXERCISE OF SUCH SECURITIES) HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR
OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES
LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT
TO CERTAIN TRANSFER RESTRICTIONS SET FORTH IN THE WARRANT AGREEMENT DATED AS OF [_______], 2012 AMONG THE COMPANY, THE HOLDER
AND AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC, AS WARRANT AGENT.

 

SECURITIES EVIDENCED BY THIS CERTIFICATE WILL BE ENTITLED TO
REGISTRATION RIGHTS UNDER A REGISTRATION RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.

 

The terms and conditions of the
lock-up of the Placement Warrants and their release therefrom shall be set forth in the letter agreement, dated as
of _________, 2012, among the Company and the Purchasers.  Any terms not herein defined shall have the meanings assigned
to them in such letter agreement.

 

    	 

    	 

    

 

6.          Waiver
of Liquidation Distributions. In connection with the Placement Warrants purchased pursuant to this Agreement, the Purchasers
hereby waive any and all right, title, interest or claim of any kind in or to any liquidating distributions by the Company in the
event of a liquidation of the Company upon the Company’s failure to timely complete an Acqusitiion Transaction. For purposes
of clarity, any ordinary shares purchased in the IPO or the aftermarket by the Purchasers shall be eligible to receive any liquidating
distributions by the Company.

 

7.          Representations
and Warranties of the Purchaser. Each Purchaser hereby represents and warrants on behalf of itself to the Company that:

 

7.1           The
Purchaser is an “accredited investor” as that term is defined in Rule 501 of Regulation D promulgated under the Securities
Act.

 

7.2           The
Placement Warrants are being acquired by the Purchaser for its own account, only for investment purposes and not with a view to,
or for resale in connection with, any distribution or public offering thereof within the meaning of the Securities Act.

 

7.3           The
Purchaser has the full right, power and authority to enter into this Agreement and this Agreement is a valid and legally binding
obligation of the Purchaser enforceable against the Purchaser in accordance with its terms.

 

8.          Waiver
and Indemnification. Each Purchaser hereby waives any and all rights to assert any present or future claims, including any
right of rescission, against the Company with respect to its purchase of the Placement Warrants, and each such Purchaser agrees
to indemnify and hold the Company harmless from all losses, damages or expenses that relate to claims or proceedings brought against
the Company by such Purchaser of the Placement Warrants or its transferees, heirs, assigns or any subsequent holders of the Placement
Warrants.

 

9.          Counterparts;
Facsimile. This Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to
be an original and all of which taken together shall constitute one and the same instrument. This Agreement or any counterpart
may be executed via facsimile transmission, and any such executed facsimile copy shall be treated as an original.

 

10.         Governing
Law. This Agreement shall for all purposes be deemed to be made under and shall be construed in accordance with 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 any other jurisdiction. Each of the parties 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. Each of the parties hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient
forum.

 

[Signature Page Follows]

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the undersigned
have executed this Agreement as of the date first written above.

 

	 	CIS ACQUISITION LTD.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	Purchaser:
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

Placement Warrant Purchase AgreementSHARE PURCHASE AGREEMENT

 

SHARE PURCHASE AGREEMENT (this “Agreement”)
made as of this ___ day of _____, 2012 among CIS Acquisition Ltd., a British Virgin Islands company (the “Company”),
and the undersigned parties listed under Purchasers on the signature page hereto (each, a “Purchaser” and collectively,
the “Purchasers”).

 

WHEREAS, the Company has filed with
the Securities and Exchange Commission (“SEC”) a registration statement on Form F-1, as amended (File No. 333-180224)
(the “Registration Statement”), in connection with the Company’s initial public offering (the “IPO”)
of up to 4,000,000 units, each unit consisting of one (1) Class A Share of the Company, $0.0001 par value (the “Class
A Shares”), and (ii) one (1) warrant to purchase one ordinary share; and

 

WHEREAS, the Company desires to sell
in a private placement to the Purchasers (the “Placement”) an aggregate of 136,000 Class A Shares (the “Underwriter
Shares”) identical to the Class A Shares held by the initial shareholders of the Company, pursuant to the terms and conditions
hereof and as set forth in the Registration Statement; and

 

WHEREAS, the Underwriter Shares shall
be held in escrow pursuant to the Securities Escrow Agreement filed as an exhibit to the Registration Statement (the “Securities
Escrow Agreement”); and

 

WHEREAS, the Purchasers are entitled
to registration rights with respect to the Underwriter Shares (the “Registrable Securities”) on the terms set forth
in the Registration Rights Agreement filed as an exhibit to the Registration Statement.

 

NOW, THEREFORE, for and in consideration
of the premises and the mutual covenants hereinafter set forth, the parties hereto do hereby agree as follows:

 

1.Purchase of Underwriter Shares.
The Purchasers hereby agree, directly or through nominees, to purchase an aggregate of 136,000 Underwriter Shares at a purchase
price of $0.02 per Underwriter Share, or an aggregate of $2,720 (the “Purchase Price”), as indicated on Schedule I
attached hereto.

 

2.Closing. The closing of the
purchase and sale of the Underwriter Shares (the “Closing”) will take place at such time and place as the parties may
agree (the “Closing Date”), but in no event later than immediately prior to the closing of the IPO. At least 24 hours
prior to the date on which the SEC declares the Registration Statement effective (the “Effective Date”), the Purchasers
shall pay the Purchase Price by wire transfer of funds to an account maintained by Loeb & Loeb LLP (“Loeb”), counsel
for the Company. Prior to the closing of the IPO, Loeb shall deposit the Purchase Price into the trust account described in the
Registration Statement (the “Trust Account”). The certificate for the Underwriter Shares shall be delivered to the
Purchasers promptly after the closing of the IPO.

 

3.Redemption. The Underwriter
Shares shall not be redeemable.

 

4.Escrow of Underwriter Shares.
The Underwriter Shares shall be held in escrow from the Effective Date until the second anniversary of the Effective Date (the
“Escrow Period”).  The
terms and conditions of the escrow of the Underwriter Shares and their release therefrom shall be set forth in the Securities
Escrow Agreement, dated as of __________, 2012, among the Company and the Purchasers.  Any terms not herein defined shall
have the meanings assigned to them in such Securities Escrow Agreement. The Underwriter Shares shall not be sold, transferred, assigned, pledged or hypothecated for a period of 180 days following the Effective Date, in accordance with FINRA Rule 5110(g)(1), nor may the holder of such Underwriter Shares engage in any hedging, short sale, derivative, put, or call transaction that would result in the effective economic disposition of such shares for a period of 180 days from the Effective Date.

 

5.Waiver of Tender Rights; Voting of Underwriter
Shares. If the Company initiates an issuer tender offer in connection with the consummation of an initial acquisition transaction
(as described more fully in the Registration Statement) (the “Acquisition Transaction”), the Purchasers hereby agree
that they will not tender any Shares owned by the undersigned in such tender offer. If the Company solicits approval of its shareholders
to approve the Acquisition Transaction, the Purchasers hereby undertakes to vote all Underwriter Shares owned by the undersigned
in accordance with the majority of the votes cast by the holders of the Class A Shares issued in the IPO (the “IPO Shares”)
and to vote any IPO Shares acquired in the IPO or the aftermarket owned by the undersigned in favor of such Acquisition Transaction.
If the Company solicits approval of its shareholders to amend Clause 6(3) of our Amended and Restated Memorandum and Articles
of Association prior to consummation of an Acquisition Transaction, the undersigned will vote all Underwriter Shares owned by
the undersigned in accordance with the majority of the votes cast by the holders of the IPO Shares. The Purchasers will not exercise
any appraisal rights (if such appraisal rights are available) to which they may be entitled under the British Virgin Islands Law
in connection with the vote to approve any Acquisition Transaction, as the case may be, with respect to any IPO Shares acquired
in the IPO or aftermarket owned by the Purchasers.

 

    	 

    	 

    
 

6.Waiver of Liquidation Distributions.
The Purchasers hereby waive, with respect to the Underwriter Shares, any and all right, title, interest or claim of any kind in
or to any liquidating distributions (including the distributions with respect to the Trust Account) by the Company in the event
of a liquidation of the Company and the Trust Account upon the Company’s failure to timely complete an Acquisition Transaction.
For purposes of clarity, any IPO Shares acquired in the IPO or in the aftermarket by the Purchasers shall be eligible to receive
any liquidating distributions by the Company.

 

7.Conflicts of Interest. To minimize
potential conflicts of interest, each Purchaser hereby acknowledges and agrees that the Company will not consummate an Acquisition
Transaction with an entity which is affiliated with such Purchaser or its affiliates, unless the Company obtains an opinion from
an independent investment banking firm that the Acquisition Transaction is fair to the Company’s unaffiliated shareholders
from a financial point of view.

 

8.Representations and Warranties
of the Purchaser. Each Purchaser hereby represents and warrants on behalf of itself to the Company that:

 

8.1The Purchaser is an “accredited
investor” as that term is defined in Rule 501 of Regulation D promulgated under the Securities Act of 1933, as amended (the
“Securities Act”).

 

8.2The Underwriter Shares are being acquired
by the Purchaser for its own account, only for investment purposes and not with a view to, or for resale in connection with, any
distribution or public offering thereof within the meaning of the Securities Act.

 

8.3The Purchaser has the full right, power
and authority to enter into this Agreement and this Agreement is a valid and legally binding obligation of the Purchaser enforceable
against the Purchaser in accordance with its terms.

 

9.Waiver and Indemnification.
Each Purchaser hereby waives any and all rights to assert any present or future claims, including any right of rescission, against
the Company with respect to its purchase of the Underwriter Shares, and each such Purchaser agrees to indemnify and hold the Company
harmless from all losses, damages or expenses that relate to claims or proceedings brought against the Company by such Purchaser
of the Underwriter Shares or its transferees, heirs, assigns or any subsequent holders of the Underwriter Shares.

 

10.Counterparts; Facsimile. This
Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all
of which taken together shall constitute one and the same instrument. This Agreement or any counterpart may be executed via facsimile
transmission, and any such executed facsimile copy shall be treated as an original.

 

11.Governing Law. This Agreement
shall for all purposes be deemed to be made under and shall be construed in accordance with 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 any other
jurisdiction. Each of the parties 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. Each
of the parties hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

 

[Signature Page Follows]

 

    	 

    	 

    
 

IN WITNESS WHEREOF, the undersigned
have executed this Agreement as of the date first written above.

 

 

	 	CIS ACQUISITION LTD.
	 	 
	 	By:	 
	 	Name:	 Kyle Shostak
	 	Title:	 Chief Financial Officer

 

	 	Purchaser:
	 	 
	 	CHARDAN CAPITAL MARKETS, LLC
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	THE PRINCERIDGE GROUP LLC
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	MAXIM GROUP LLC
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	EURO PACIFIC CAPITAL, INC.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

 

 

 

Share Purchase Agreement

 

    	 

    	 

    
 

SCHEDULE I

 

 

	Underwriter Shares	 	 	 	 	 
	Name of Purchaser	 	
        Number of

        Shares
	 	 	Purchase Price
	Chardan Capital Markets, LLC	 	 	 	 	 	 	 
	The PrinceRidge Group LLC	 	 	 	 	 	 	 
	 Maxim Group LLC	 	 	 	 	 	 	 
	 Euro Pacific Capital, Inc.

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