Document:

Exhibit 10.2 Amending Agreement dated March 12, 2021

 

Exhibit 10.2

 

AMENDING AGREEMENT #3

 

This Amending Agreement #3 (the “Agreement”) is made as of the 12th day of March, 2021, by and between Dakota Territory Resource Corp, a Nevada corporation (the “Company”), and JR Resources Corp., a Nevada corporation (“JR”). 

 

WHEREAS, on May 26, 2020 the Company and JR entered into an agreement (the “Original Agreement”), pursuant to which the Company granted a subscription right to JR to purchase from the Company a certain amount of Shares. 

 

WHEREAS, on October 15, 2020 and February 15, 2021 the Company and JR entered into an amending agreement (the “Amending Agreement”) pursuant to which JR exercised in part its right to purchase Shares pursuant to the Original Agreement for an Investment Amount of $10,450,000 and the exercise of the balance of the right was extended to March 17, 2021. 

 

WHEREAS, section 7.6 of the Original Agreement provides that any term of the Original Agreement may be amended, terminated or waived only with the written consent of the Company and JR prior to a Change of Control Closing or as otherwise provided in the Original Agreement.

 

WHEREAS, to be effective immediately prior to the Change of Control Closing, the Company and JR desire to enter into this Agreement.

 

NOW, THEREFORE, in consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged and agreed is beneficial for both parties, the Company and JR agree as follows:

 

Section 1Amendment to Original Agreement. 

 

The Original Agreement is hereby amended as follows, to be effective as of the date hereof:

 

(1)Section 6.1(b) is amended and restated in its entirety as follows: 

 

(b)The Amended Bylaws shall provide for, among other things, the following board composition mechanisms during the Standstill Period: 

 

(i)the Company Board shall consist of the JR Designees and the Company Designees, it being understood that the number of JR Designees at any given time shall be one (1) more than the number of Company Designees; and 

 

(ii)in the event of any vacancy in the office of any JR Designee, a majority of the remaining JR Designees shall have the right to designate a replacement; in the event of any vacancy in the office of any Company Designee, a majority of the remaining Company Designees shall have the right to designate a replacement, in each case to fill such vacancy; and in the event of a vacancy resulting from an increase in the number of directors, the majority of each of the JR Designees and Company Designees shall agree upon such candidate and then have the right to fill such vacancy with this candidate, as well as any subsequent vacancy resulting from this appointed directorship. 

 

(2)The third sentence of Section 4.7 is amended and restated in its entirety as follows:  

 

“In connection with the adoption of such equity compensation plan, within 30 days from the Change of Control Closing, it is expected that the Board will agree to award up to 10 million shares of Company Common Stock as grants/options, with approximately 64.28% to be granted to JR personnel to become associated with the Company after the Change of Control Closing, and approximately 35.72% to be granted to Company personnel currently associated with the Company.”

 

 

Section 2Reference to and Effect on the Original Agreement. 

 

(1)Except as expressly set forth herein, this Agreement shall not, by implication or otherwise, limit, impair, constitute a waiver of or otherwise affect the rights and remedies of any party under the Original Agreement, and shall not alter, modify or amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Original Agreement, the Amending Agreement or the Transaction Documents. Capitalized terms used herein without definition have the same meanings as in the Original Agreement (as may have been modified in the Amending Agreement).  

 

(2)This Agreement is incorporated by reference in, and forms an integral part of, the Original Agreement and Amending Agreement. Upon execution of this Agreement, each reference in the Original Agreement and Amending Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import shall mean and be a reference to the Original Agreement as amended by the Amending Agreement and hereby, and each reference to the Original Agreement and Amending Agreement in any other document, instrument or agreement executed and/or delivered in connection with the Original Agreement and Amending Agreement shall mean and be a reference to the Original Agreement and Amending Agreement as amended hereby. 

 

(3)The Original Agreement and Amending Agreement (each as amended hereby) and the Transaction Documents shall remain in full force and effect, other than those provisions amended pursuant to Section 1 of this Agreement. 

 

Section 3Miscellaneous  

 

(1)Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. 

 

(2)Further Assurances. From and after the date of this Agreement, upon the reasonable request of either JR or the Company, the respective parties shall execute and deliver such instruments, documents, or other writings as may be reasonably necessary or desirable to confirm and carry out and to effectuate fully the intent and purposes of this Agreement.  

 

(3)Construction. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof. The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any party. This Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement.  

 

(4)Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by the provisions set forth in the Original Agreement and Amending Agreement.  

 

(5)Severability. Should any one or more of the provisions of this Agreement be determined to be illegal or unenforceable, all other provisions of this Agreement shall be given effect separately from the provision or provisions determined to be illegal or unenforceable and shall not be effected thereby. 

 

(6)Entire Agreement. This Agreement, the Original Agreement and Amending Agreement constitute the full and entire understanding and agreement between the parties with respect to the subject matter hereof. 

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.

SIGNATURE PAGES FOLLOW.]

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.

 

	 

	 

	DAKOTA TERRITORY RESOURCE CORP. 

 

	By:

	/s/ Gerald M. Aberle

	 

	Gerald M. Aberle, Chief Executive Officer 

 

	 

	 

	JR RESOURCES CORP. 

 

	By:

	/s/ Jonathan T. Awde

	 

	Jonathan T. Awde, Chief Executive OfficerExhibit 4.29

 

Description of Registrant’s
Securities

 

As of March 10, 2021, Predictive Oncology
Inc. (the “Company”) has one class of securities registered under Section 12 of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”), namely, our common stock, par value $0.01 per share (“Common Stock”).

 

Description of Common Stock

 

The following description of our Common
Stock is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference to our Certificate
of Incorporation, as amended (the “Certificate of Incorporation”), our Second Amended and Restated Bylaws, as amended
(the “Bylaws”), and the Certificate of Designation of Preferences, Rights and Limitations applicable to each series
of our Preferred Stock (as defined below) (collectively, the “Certificates of Designation”), each of which are incorporated
by reference as an exhibit to the Annual Report on Form 10-K of which this Exhibit 4.1 is a part. We encourage you to read the
Certificate of Incorporation, the Bylaws, the Certificates of Designation, and the applicable provisions of the General Corporation
Law of the State of Delaware (the “DGCL”) for additional information.

 

Authorized Capital Stock. Our authorized
capital stock consists of 100,000,000 shares of Common Stock, and 50,000,000 shares of preferred stock, $0.01 par value per share
(“Preferred Stock”). Out of the Preferred Stock, as of December 31, 2019, and 300,000 shares have been designated Series
B Convertible Preferred Stock, of which 79,246 shares were outstanding.

 

The outstanding shares of our Common Stock
and Preferred Stock are fully paid and nonassessable.

 

The Series B Convertible Preferred Stock
is convertible into Common Stock at the option of its holders on a 1:1 basis, subject to a 4.99% beneficial ownership blocker.
The Series D Convertible Preferred Stock converts on a 1:10 basis on April 4, 2020, subject to a 4.99% beneficial ownership blocker.
Each share of Series E Convertible Preferred Stock is convertible at the option of its holder into 0.056857% of the shares of Common
Stock issued and outstanding immediately prior to giving effect to such conversion, subject to a 19.99% beneficial ownership blocker,
and on June 13, 2020, the Company may at its option convert all outstanding shares of Series E Convertible Preferred Stock into
shares of Common Stock.

 

Blank Check Preferred Stock. Our
Board of Directors is authorized, subject to any limitations prescribed by law, to provide for the issuance of the shares of Preferred
Stock in series and, by filing a certificate pursuant to the applicable law of the State of Delaware, to establish from time to
time the number of shares to be included in each such series, and to fix the designation, powers, preferences and rights of the
shares of each such series and any qualifications, limitations or restrictions thereon. The number of authorized shares of Preferred
Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the
holders of a majority of the outstanding shares of Common Stock without a vote of the holders of the Preferred Stock, or of any
series thereof, unless a vote of any such holders is required pursuant to the certificate or certificates establishing the series
of Preferred Stock.

 

 Voting Rights. The holders of our Common Stock
are entitled to one vote for each outstanding share of Common Stock owned by that shareholder on every matter properly submitted
to the shareholders for their vote. Shareholders are not entitled to vote cumulatively for the election of directors.

 

 

Dividend Rights. Subject to the
dividend rights of the holders of any outstanding series of preferred stock, holders of our Common Stock are entitled to receive
ratably such dividends and other distributions of cash or any other right or property as may be declared by our Board of Directors
out of our assets or funds legally available for such dividends or distributions.

 

Liquidation Rights. In the event
of any voluntary or involuntary liquidation, dissolution or winding up of our affairs, holders of our Common Stock would be entitled
to share ratably in our assets that are legally available for distribution to shareholders after payment of liabilities and after
the satisfaction of any liquidation preference owed to the holders of any Preferred Stock.

 

     

     

    

 

Conversion, Redemption and Preemptive
Rights. Holders of our Common Stock have no conversion, redemption, preemptive, subscription or similar rights.

 

Bylaws. Certain provisions of our
Bylaws could have anti-takeover effects. These provisions are intended to enhance the likelihood of continuity and stability in
the composition of our corporate policies formulated by our Board of Directors. In addition, these provisions also are intended
to ensure that our Board of Directors will have sufficient time to act in what our Board of Directors believes to be in the best
interests of our Company and our shareholders. Nevertheless, these provisions could delay or frustrate the removal of incumbent
directors or the assumption of control of us by the holder of a large block of Common Stock and could also discourage or make more
difficult a merger, tender offer, or proxy contest, even if such event would be favorable to the interest of our shareholders.
These provisions are summarized below.

 

Advance Notice Provisions
for Raising Business or Nominating Directors. Sections 2.09 and 2.10 of our Bylaws contain advance-notice provisions relating
to the ability of shareholders to raise business at a shareholder meeting and make nominations for directors to serve on our Board
of Directors. These advance-notice provisions generally require shareholders to raise business within a specified period of time
prior to a meeting in order for the business to be properly brought before the meeting.

 

Number of Directors and Vacancies.
Our Bylaws provide that the exact number of directors shall be determined from time to time solely by resolution adopted by the
affirmative vote of a majority of the entire Board of Directors. The Board of Directors is divided into three classes, as nearly
equal in number as possible, designated: Class I, Class II and Class III (each, a “Class”). In the case of any
increase or decrease, from time to time, in the number of directors, the number of directors in each class shall be apportioned
as nearly equal as possible. Except as otherwise provided in the Certificate of Incorporation, each director serves for a term
ending on the date of the third annual meeting of the Company’s stockholders following the annual meeting at which such director
was elected; provided, that the term of each director shall continue until the election and qualification of a successor and be
subject to such director’s earlier death, resignation or removal. Vacancies on the Board of Directors resulting from death,
resignation, removal or otherwise and newly created directorships resulting from any increase in the number of directors may be
filled solely by a majority of the directors then in office (although less than a quorum) or by the sole remaining director.

 

Listing. Our Common Stock is traded
on the Nasdaq Capital Market under the trading symbol “POAI”.

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