Document:

Exhibit 4.25

EXHIBIT 4.25

PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT

THIS AGREEMENT dated for reference the 28th day of November, 2001.

BETWEEN

[name], an individual, having his address at [address].

(the "Purchaser")

  

OF THE FIRST PART

AND:

GLOBAL PRECISION MEDICAL INC., a British Columbia corporation, having its
registered and records office at 12406 Wright Ave., Summerland, P.O. Box 1609
British Columbia VOH 1Z0

(the "Issuer")

  

OF THE SECOND PART

WHEREAS:

A.         The Issuer
is listed on the OTCBB Exchange (the "Exchange") and is subject to the
regulatory jurisdiction of the NASDAQ, the United States Securities and Exchange
Commission and the British Columbia Securities Commission.

B.         The
Purchaser, as principal, hereby unconditionally subscribes for and agrees to
purchase the securities of the Issuer, as more particularly described below, at
the subscription price set out upon, and subject to the following terms and
conditions.

NOW THEREFORE this Agreement witnesses that in consideration of the
mutual premises, warranties, covenants and agreements herein contained, the
parties hereto agree as follows:

1.         PURCHASE AND SALE OF UNITS

1.1         On the
Closing, the Purchase will purchase from the Issuer 66.667 units (the "Units"),
priced at US $.75 per Unit, each Unit consisting of one common share in the
capital stock of the Issuer (the "Shares") and half a warrant (the "Warrants")
exercisable for two years. One full Warrant will entitle the Purchaser to
purchase an additional common share in the capital stock of the Issuer at a
price of US $1.00 per share in the first year or at a price of US $2.00 if
exercised in the second year. The Issuer will deliver to the Purchaser
certificates representing the Shares and the Warrants.

2. WARRANTIES

2.1         The Purchaser
acknowledges, represents and warrants that, as at the date given above and at
the Closing, that:

(a)          no prospectus has
been filed by the Issuer with the Commission in connection with the issuance of
the Units, the issuance is exempted from the prospectus requirements of the
Securities Act (British Columbia) (the "Act") or any rules and regulations (the
"Rules") promulgated pursuant to the Act and that:

               
(i)        the Purchaser is restricted from
using most of the civil remedies available under the Act and the Rules;

               
(ii)        the Purchaser may not receive
information that would otherwise be required to be provided to him under the Act
and the Rules; and

               
(iii)        the Issuer is relieved from
certain obligations that would otherwise apply under the Act and the Rules;

(b)        if the purchase of the Units by
the Purchaser is to be made under the exemption from prospectus requirements
available under:

               
(i)        section 74(2)(4) of the Act, then
the Purchaser:

                           
(A)        is not a syndicate, partnership or
other form of unincorporated entity or organization created solely to permit the
purchase of the Units (or other similar purchases) by a group of individuals
whose individual share of the aggregate acquisition cost of the Units is less
than $97,000; and

                           
(B)        if the Purchaser is an individual,
the Purchaser agrees to execute and deliver a Form D to the Issuer;

(c)        the Purchaser is purchasing the
Units as principal and no other person, corporation, firm or other organization
will have a beneficial interest in the Units;

(d)        the Units were not advertised
in printed media of general and regular paid circulation, radio or television;

(e)        no person has made to the
Purchaser any written or oral representations:

               
(i)           that any person
will resell or repurchase the Units;

               
(ii)          that any person will
refund the purchase price of the Units;

               
(iii)         as to the future price or
value of the units; or

               
(iv)         that the shares will be
listed and posted for trading on a stock exchange or that application has been
made to list and post the Shares for trading on a stock exchange other than the
Exchange;

(f)        
    this subscription has not been
solicited in any other manner contrary to the Act or the Rules or the United
States Securities Act of 1933, as amended;

(g)        the Purchaser
is not a "control person " of the Issuer as defined in the Act, will not become
a "control person" by virtue of this purchase of the Units and does not intend
to act in concert with any other person to form a control group;

(h)        the Purchaser
has no knowledge of a "material fact" or "material change" (as those terms are
defined in the Act) in the affairs of the Issuer that has not been generally
disclosed to the public, save knowledge of this particular transaction;

               
(i) the offer made by this subscription is irrevocable and requires acceptance
by the Issuer;

(j)         the Purchaser waives the
need for the Issuer to communicate its acceptance of the purchase of the Units
pursuant to this Agreement; and

(k)       the Purchaser is
aware that the Issuer is planning to use the proceeds of this private placement
for general working capital purposes and any corporate acquisitions deemed
appropriate by the Board of Directors of the Corporation.

2.2        The Issuer represents and
warrants that, as of the date given above and at the Closing:

(a)         the
Issuer and its subsidiaries, if any, are valid and subsisting corporations duly
incorporated and in good standing under the laws of the jurisdictions in which
they are incorporated;

(b)         the
Issuer will reserve or set aside sufficient shares in the treasury of the Issuer
to issue to the Purchaser the Shares and any shares acquired by the Purchaser
upon the exercise of the Warrants;

(c)          the
Issuer is not in default of any reporting requirements.

  

2.3         The warranties contained
in Subsections 2.1 and 2.2 will survive the Closing:

3. CLOSING

3.1         The closing of the
transactions contemplated by this Agreement (the "Closing") will take place
within one business day of the execution of this subscription agreement.

3.2         At Closing, the Issuer
will deliver to the Purchaser the certificates representing the Shares and the
Warrants registered in the name of the Purchaser or its nominee.

4. HOLD PERIOD

4.1        The Purchaser
acknowledges that the Shares and Warrants, and any shares received upon an
exercise of the Warrants, may not be traded for a period of one year from the
date of full payment of the shares and warrants respectively, and after one year
such sale is subject to SEC Rule 144.

4.2        The certificates representing
the Shares and Warrants will contain a legend denoting the restrictions on
transfer imposed under the US Securities Act.

5. MISCELLANEOUS

5.1         Time is of the essence of
this Agreement;

5.2         The parties to this
Agreement may amend this Agreement only in writing.

5.3         The
parties to the Agreement will execute and deliver all documents and procedures
necessary, for the purposes of giving effect to or perfecting the transactions
contemplated by this Agreement.

5.4         This Agreement enures to
the benefit of and is binding upon the parties to this Agreement and their
successors and permitted assigns.

5.5         A party
to this Agreement will give all notice to or other written communications with
the other party to this Agreement concerning this Agreement by hand or by
registered mail addressed to the address given above.

5.6         This Agreement will be
governed by and construed in accordance with the laws of British Columbia.

5.7         This Agreement may be
signed by the Directors of the Corporation and the Purchaser in as many
counterparts as may be necessary, each of which so signed shall be deemed to be
an original and such counterparts together shall constitute one and the same
instrument, and notwithstanding the date of execution shall be deemed to bear
the date as set forth above.

IN WITNESS WHEREOF this Agreement has been executed as at the date above
written.

 

  
  	/s/ [name]
	)	 
	was hereunto
      affixed in the   

      presence of: 

      /s/
	)

      )

      )

 	 
	Authorized Signatory	 	 
	

 	 	 
	THE CORPORATE SEAL OF

      GLOBAL PRECISION 

      MEDICAL INC. was hereto 

      affixed in the presence of:  

      

      /s/ LINDSAY SEMPLE
	)

      )

      )

      )

      )

      )

      )	          
      c/s
	 	 	 
	 	 	 
	/s/ BORIS WEISS
	)	 
	Authorized SignatoryExhibit 4.26

  EXHIBIT 4.26

  

  THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A HOLD PERIOD
  AND MAY NOT BE TRADED IN BRITISH COLUMBIA UNTIL NOVEMBER 26, 2003 EXCEPT AS
  PERMITTED BY THE SECURITIES ACT (BRITISH COLUMBIA) AND REGULATIONS MADE
  THEREUNDER.

  

  THE WARRANTS REPRESENTED BY THIS CERTIFICATE HAVE BEEN SOLD
  PURSUANT TO EXEMPTIONS FROM THE PROSPECTUS REQUIREMENTS OF APPLICABLE
  SECURITIES LEGISLATION AND, ACCORDINGLY, MAY BE SUBJECT TO RESALE RESTRICTIONS
  WHICH PROVIDE THAT THE SECURITIES ISSUABLE UPON THE EXERCISE THEREOF MAY NOT
  BE TRADED UNTIL THE EXPIRY OF HOLD PERIODS PRESCRIBED BY APPLICABLE
  LEGISLATION EXCEPT AS OTHERWISE PERMITTED BY SUCH LEGISLATION OR UNTIL A
  PROSPECTUS SHALL HAVE BEEN FILED AND ACCEPTED IN RESPECT OF SUCH SECURITIES BY
  THE SECURITIES REGULATORY AUTHORITIES IN THE APPLICABLE JURISDICTIONS.

  

  THESE WARRANTS AND THE SECURITIES ISSUABLE UPON EXERCISE
  THEREOF HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES
  SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), OR THE SECURITIES LAWS OF
  ANY STATE OF THE UNITED STATES. THESE WARRANTS MAY NOT BE TRANSFERRED TO OR
  EXERCISED IN THE UNITED STATES OR BY OR ON BEHALF OF A PERSON IN THE UNITED
  STATES OR A U.S. PERSON UNLESS THE WARRANTS AND THE UNDERLYING SECURITIES HAVE
  BEEN REGISTERED UNDER THE 1933 ACT AND THE APPLICABLE SECURITIES LEGISLATION
  OF ANY SUCH STATE OR AN EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS IS
  AVAILABLE. "UNITED STATES" AND "U.S. PERSON" ARE AS DEFINED BY REGULATION S
  UNDER THE 1933 ACT.

  
  

WARRANT CERTIFICATE

GLOBAL PRECISION MEDICAL INC.

(Incorporated under the laws of British Columbia)

	WARRANT

    CERTIFICATE NO. [-]	
    [number] non-transferable WARRANTS entitling the holder to acquire,
    subject to adjustment, one Common share for each two Warrants represented
    hereby.
	 	 
     

 

THIS IS TO CERTIFY THAT:

[name]

402 Hornby Street, Vancouver, BC, V6C 3J1, Canada

(the "Holder") is entitled to acquire, upon exercise of two
Warrants represented hereby, one fully paid and non-assessable Common share (the
"Common Share") of Global Precision Medical Inc. (the "Company") at the price of
US$1.00 during the year commencing on November 26, 2002 and thereafter at a
price of US$2.00 until 4 p.m. (Vancouver time) on November 26, 2004 (the "Expiry
Time"), at which time the Warrants represented by this certificate shall expire
and become void.

The right to acquire Common Shares may only be exercised by
the holder within the time set forth above by:

  
    (I)         duly
    completing and executing the exercise form attached hereto (the "Exercise
    Form");

    

    (II)        surrendering
    this Warrant Certificate to the Corporation at the office of its registrar
    and transfer agent, Pacific Corporate Trust Company, at 10th
    Floor, 625 Howe Street, Vancouver, British Columbia, V6C 3B8; and

    

    (III)        delivering
    to the Corporation at the office of its registrar and transfer agent,
    Pacific Corporate Trust Company, at the address set out above, cash,
    certified cheque or bank draft payable to the Corporation for the amount
    then due to the Corporation for the number of Common Shares purchased on the
    exercise of this Warrant.

  

      
    
  

These Warrants shall be effectively surrendered (unless
deemed to be surrendered) only upon personal delivery hereof or, if sent by mail
or other means of transmission, upon actual receipt thereof by the Corporation
at the office of its registrar and transfer agent referred to above.

Upon surrender of these Warrants, the person or persons in
whose name or names the Common Shares issuable upon exercise of the Warrants are
to be issued shall be deemed for all purposes to be the holder or holders of
record of such Common Shares and the Corporation will cause certificates
representing such Common Shares to be delivered or mailed to the person or
persons at the address or addresses specified in the Exercise Form within five
business days.

The registered Holder of these Warrants may acquire any
lesser number of Common Shares than the number of Common Shares which may be
acquired for the Warrants represented by this Warrant Certificate. In such
event, the Holder shall be entitled to receive a new Warrant Certificate for the
balance of the Common Shares which may be acquired. No fractional Common Shares
will be issued, provided that a holder holding more than one Warrant Certificate
may combine fractional Common Shares. 

In the event of any alteration of the Common Shares,
including any subdivision, consolidation or reclassification, and in the event
of any form of reorganization of the Corporation, including any amalgamation,
merger or arrangement, the Holders of Warrants shall, upon exercise of the
Warrants following the occurrence of any of those events, be entitled to receive
the same number and kind of securities that they would have been entitled to
receive had they exercised their Warrants immediately prior to the occurrence of
those events.

The Holder of this Warrant Certificate may, at any time prior
to the Expiry Time, upon surrender hereof to the Corporation at its principal
office in Vancouver, British Columbia, exchange this Warrant Certificate for
other Warrant Certificates entitling the Holder to acquire, in the aggregate,
the same number of Common Shares as may be acquired under this Warrant
Certificate.

The holding of the Warrants evidenced by this Warrant
Certificate shall not constitute the Holder hereof a shareholder of the
Corporation or entitle the Holder to any right or interest in respect thereof
except as expressly provided in this Warrant Certificate.

The Warrants represented hereby and securities which may be
acquired hereunder have not been, and will not be, registered under the United
States Securities Act of 1933, as amended (the "1933 Act"), and may not be
transferred to or exercised in the United States or by or on behalf of any U.S.
person unless registered under the 1933 Act or pursuant to an applicable
exemption from registration under the 1933 Act.

The Warrants evidenced by this Warrant Certificate are
non-transferable.

The Warrants shall be governed by and interpreted in
accordance with the laws of the Province of British Columbia and the laws of
Canada applicable therein. Time shall be of the essence hereof.

IN WITNESS WHEREOF the Corporation has caused this Warrant
Certificate to be signed by its duly authorized officers as of the 6th
day of December 2002.

 

____________________________

Authorized Signatory

 

__________________________________________

Authorized Signatory

 

COUNTERSIGNED

PACIFIC CORPORATE TRUST COMPANY

Per:

____________________________________

____________________________

 

EXERCISE FORM

TO:                     
Global Precision Medical Inc.

AND TO:            
Pacific Corporate Trust Company 

      
    
  

The undersigned hereby exercises the right to acquire
____________ Common Shares of Global Precision Medical Inc. in accordance with
and subject to the provisions of the accompanying Warrant Certificate Tony Ma.

All capitalized terms not defined in this exercise form have
the meanings assigned to them in the Warrant Certificate.

               
The Common Shares are to be issued as follows:

Name:
        ____________________________________________________________________________________

        Address in full:
        ______________________________________________________________________________
        

        
        Social Insurance Number:
        ______________________________________________________________________

        Number of Common Shares:
        ____________________________________________________________________

        

      
    
  

Note: If further nominees intended, please attach (and
initial) schedule giving the above for each further nominee.

The undersigned hereby certifies that the undersigned

(i) is not (and is not exercising the Warrant for the account
or benefit of) a "U.S. Person", 

(ii) did not execute or deliver this exercise form in the United States and 

(iii) has in all other aspects complied with the terms of Regulation S of the
United States Securities Act of 1933, as amended the ("the 1933 Act") or any
successor rule or regulation of the United States Securities and Exchange
Commission in effect. Alternatively, the undersigned is tendering with this
exercise form a written opinion of counsel to the effect that the Common Shares
to be delivered upon exercise of the Warrants have been registered under the
1933 Act and the securities laws of all applicable states of the United States
or are exempt from registration thereunder. The term "U.S. Person"
is as defined in Regulation S under the 1933 Act and includes, but is not
limited to, any natural person resident in the United States and any partnership
or corporation organized or incorporated under the laws of the United States.
"United States" means the United States of America, its territories and
possessions, any state of the United States and the District of Columbia.

DATED this ______________ day of ______________, ______.

 

___________________________________                                           
_________________________________________

Signature Guaranteed                                                                                           
(Signature of Warrant Holder)

                                                                                                                          
_____________________________________________________

                                                                                                                           
(Print full name)

                                                                                                                           

                                                                                                                          
_____________________________________________________

                                                                                                                          
_____________________________________________________

                                                                                                                           
(Print full address)

 

Instructions:

1.         The
registered holder may exercise its right to receive Common Shares by completing
this form and surrendering this form and the Warrant Certificate representing
the Warrants being exercised to Pacific Corporate Trust Company at its principal
office in Vancouver, British Columbia. Certificates for Common Shares will be
delivered or mailed within five business days after the exercise of the
Warrants.

2.         If the
Exercise Form indicates that Common Shares are to be issued to a person or
persons other than the registered holder of the Certificate, the signature of
such holder of the Exercise Form must be guaranteed by an authorized officer of
a chartered bank or member of a recognized medallion guarantee program.

3.         If the
Exercise Form is signed by a trustee, executor, administrator, curator,
guardian, attorney, officer of a corporation or any person acting in a judiciary
or representative capacity, the certificate must be accompanied by evidence of
authority to sign satisfactory to the Corporation and its transfer agent.

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