Document:

EX-10.8

   
 [*] = CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED BECAUSE IT IS BOTH (i) NOT MATERIAL AND (ii) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED.

 
  
  

Exhibit 10.8

 
 

  
 

815 WEST HASTINGS STREET - OFFICE LEASE
  

INDEX
  

	ARTICLE 1 - INTERPRETATION	ARTICLE 10 - TAXES
	Section 1.01	Definitions	Section 10.01	Taxes Payable by the Landlord
	Section 1.02	Schedules	Section 10.02	Taxes Payable by the Tenant
	Section 1.03	Extended Meanings	Section 10.03	Business Taxes and Other Taxes of the Tenant
	Section 1.04	Headings and Captions	Section 10.04	Postponement
	Section 1.05	Obligations as Covenants	Section 10.05	Tenant to Deliver Receipts 
	Section 1.06	Entire Agreement	Section 10.06	Assessment Appeals
	Section 1.07	Governing Law	 	 
	Section 1.08	Severability	ARTICLE 11 - ASSIGNMENT AND SUBLETTING
	Section 1.09	Successors and Assigns	 	 
	Section 1.10	Time of the Essence	Section 11.01	Permitted Occupants
	Section 1.11	Confidential Nature of Lease	Section 11.02	Assignment or Subletting
	Section 1.12	Tenant Partnership	Section 11.03	Change in Control
	 	 	Section 11.04	Surrender
	ARTICLE 2 - DEMISE	Section 11.05	Continuing Obligations
	 	 	Section 11.06	Assignment by Landlord
	Section 2.01	Leased Premises	 	 
	 	 	 	 
	ARTICLE 3 - TERM	ARTICLE 12 - STATUS CERTIFICATES, ATTORNMENT AND SUBORDINATION
	Section 3.01	Term	 	 
	Section 3.02	Overholding	Section 12.01	Status Certificates
	 	 	Section 12.02	Subordination and Attornment
	ARTICLE 4 - RENT	Section 12.03	Attorney
	 	 	 	 
	 	 	ARTICLE 13 - LIMITATION OF LIABILITIES
	Section 4.01	Basic Rent	 	 
	Section 4.02	Additional Rent	Section 13.01	Unavoidable Delay
	Section 4.03	Determination of Rentable Area	Section 13.02	Waiver
	Section 4.04	Payment of Tenant's Proportionate Share	Section 13.03	No Claim for Inconvenience
	Section 4.05	Accrual of Rent	Section 13.04	Indemnity by Tenant
	Section 4.06	Currency and Place of Payment	Section 13.05	Acceptance of Leased Premises
	Section 4.07	Additional Rent Treated as Rent	 	 
	Section 4.08	Interest on Amounts in Default	ARTICLE 14 - ACCESS
	Section 4.09	Net Lease to Landlord	 	 
	 	 	Section 14.01	Entry by Landlord
	 	 	Section 14.02	Exhibiting Leased Premises
	ARTICLE 5 - GENERAL COVENANTS	 	 
	 	 	ARTICLE 15 - ALTERATIONS AND ADDITIONS
	Section 5.01	Landlord's Covenants	 	 
	Section 5.02	Tenant's Covenants	Section 15.01	Landlord's Alterations, etc.
	 	 	Section 15.02	Tenant's Alterations
	ARTICLE 6 - BUILDING SERVICES, COMMON AREAS, UTILITIES	Section 15.03	Liens
	 	 	 
	 	 	ARTICLE 16 - REMEDIES OF LANDLORD ON TENANT'S DEFAULT
	Section 6.01	Heating, Ventilating and Air Conditioning	 	 
	Section 6.02	Common Area	 	 
	Section 6.03	Janitorial Services	Section 16.01	Remedying by Landlord, Non-Payment and Interest
	Section 6.04	Utilities	 	 
	 	 	Section 16.02	Right to Re-Enter
	ARTICLE 7 - USE AND OCCUPANCY OF LEASED PREMISES	Section 16.03	Bankruptcy of Tenant
	 	 	Section 16.04	Right to Terminate
	Section 7.01	Use	Section 16.05	Right to Re-Let
	Section 7.02	Nuisance	Section 16.06	Remedies Cumulative
	Section 7.03	Compliance with Laws	Section 16.07	Waiver of Exemption from Distress
	Section 7.04	Compliance with Rules and Regulations	Section 16.08	Removal of Chattels
	Section 7.05	Signs and Advertising	 	 
	Section 7.06	Disfiguration, Overloading, etc.	 	 
	Section 7.07	Energy Conservation	ARTICLE 17 - ENVIRONMENTAL MATTERS
	Section 7.08	Remedial Action	Section 17.01	 Restriction on Contaminants
	Section 7.09	Glass	Section 17.02	Compliance with Environmental Laws
	 	 	Section 17.03	Access by Landlord
	ARTICLE 8 - INSURANCE	Section 17.04	Notice to Landlord
	 	 	Section 17.05	Removal of Contaminants
	Section 8.01	Tenant's Insurance	Section 17.06 	Ownership of Contaminants
	Section 8.02	Form of Policies	Section 17.07	Indemnity
	Section 8.03	Release of Landlord	Section 17.08	Survival of Tenant's Obligations
	Section 8.04	Landlord's Insurance	 	 
	Section 8.05	Insurance Risks	 	 
	 	 	ARTICLE 18 - MISCELLANEOUS
	 	 	 	 
	ARTICLE 9 - REPAIR AND DAMAGE	Section 18.01	Notices
	 	 	Section 18.02	Registration of Lease
	Section 9.01 	Landlord's Obligations	Section 18.03	Acceptance
	Section 9.02	Tenant's Obligations	 	 
	Section 9.03	Tenant's Liability	SCHEDULES A & A1 -Plan of Leased Premises
	Section 9.04	Damage - Landlord's Liability	SCHEDULE B -	Plan of 815 West Hastings Street Development
	Section 9.05	Abatement and Termination	SCHEDULE C -	Rules and Regulations
	 	 	SCHEDULE D -	Special Provisions

  

 
  

 

 
	 	
 

  

  
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED BECAUSE IT IS BOTH (i) NOT MATERIAL AND (ii) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED.

 
  

 
  

 
 OFFICE PREMISES LEASE

 
 THIS LEASE made the 14th day of January,
2019.
  
 PURSUANT TO THE "LAND TRANSFER FORM ACT, PART 2"

 
 BETWEEN:

 
 815 WEST HASTINGS LTD., a corporation pursuant to the
Laws of the Province of British Columbia under BC0894401, with an office in the City of Vancouver, in the Province of British Columbia (hereinafter called "the Landlord")

 
 OF THE FIRST PART

 
 AND:

INMED PHARMACEUTICALS INC., a company in the City of Vancouver, in the Province of British Columbia (thereinafter called "the Tenant")

 
 OF THE SECOND PART

 
 WITNESS that whereas the Landlord has agreed to lease
to the Tenant and the Tenant has agreed to lease from the Landlord the Leased Premises (as hereinafter defined) forming part of the Development (as hereinafter defined) municipally known as 815 West Hastings Street, Vancouver, British Columbia:

 
 NOW THEREFORE in consideration of the rents,
covenants, and agreements hereinafter contained, the Parties agree as follows:
  

ARTICLE 1
 INTERPRETATION

 
 Section 1.01 - Definitions

 
 In this Lease, unless there is something in the
subject matter or context inconsistent therewith:
  
 "Additional
Rent" means all amounts in addition to Basic Rent payable by the Tenant to the Landlord pursuant to any provision of this Lease;
  

"Administrative Charge” means, whenever the Landlord performs work or supplies services pursuant to this Lease, or causes the same to be performed or
supplied, which is or are the responsibility of the Tenant, or for which expense the Tenant is responsible, in addition to the amount otherwise payable to the Landlord in respect thereof pursuant to this Lease, a charge equal to fifteen percent
(15%) of all costs, fees and expenses incurred by the Landlord in connection therewith.
  

"Architect" means the architect designated from time to time by the Landlord;

 
 "Basic Rent" means the rent specified in Section 4.01;

 
 "Business Day" means any day which is not a Saturday, Sunday
or a holiday (as defined in the Interpretation Act of British Columbia);
  

"Business Hours" means the period from 8:00 a.m. to 6:00 p.m. on any Business Day;

 
 "Business Taxes" means all taxes and licence fees in respect
of any business carried on by the Tenant or other occupants of the Leased Premises;
  

"Corporation Capital Tax" means the applicable amount (as hereinafter defined) of any tax or taxes payable by the Landlord under the Corporation Capital Tax
Act or other legislation of British Columbia or the amount of any other capital or place of business tax levied by the provincial government or other applicable taxing authority against the Landlord with respect to the Development, or any part
thereof, whether known as capital tax or by any other name; provided that for the purpose of this definition the phrase "applicable amount" of such tax shall mean the amount thereof that would be payable if the Development were the only
establishment of the Landlord in British Columbia and any other establishments of the Landlord therein were located outside British Columbia;
  

"Common Area" means those portions of the Development designated from time to time by the Landlord for the common use and enjoyment of all the tenants of
the Development and their respective agents, invitees, servants, employees and licensees and includes, without limitation, the public entrance doors, halls, loading areas, public lobbies and elevators;

 
 "Contaminants" means any explosives, radioactive materials,
asbestos materials, urea formaldehyde, chlorobiphenyls, hydrocarbon contaminants, underground tanks, pollutants, contaminants, hazardous, corrosive or toxic substances, special waste or waste of any kind or any other substance the storage,
manufacture, disposal, treatment, generation, use, transport, remediation or release into the environment of which is prohibited, controlled, regulated or licensed under Environmental Laws;

 
 "Contaminant Dealings" means the sale, storage, manufacture,
disposal, treatment, generation, use, transport, remediation release into the environment of, or any other dealing with, any Contaminants;
  

"Development" means the multi-storey office building and related parking and storage facilities located on, and including, the Lands together with any other
buildings, structures or improvements erected thereon from time to time;
  

"Eligible Corporation" means a corporation which controls or is controlled by or under common control with the Tenant, control meaning the direct or
indirect beneficial ownership of more than fifty percent (50%) of the shares of a corporation which may be voted at any meeting held for the purpose of the election of Directors of that corporation;

 
 "Environmental Laws" means any and all statutes, laws,
regulations, orders, bylaws and other lawful requirements of any federal, provincial, municipal or other governmental authority having jurisdiction over the Premises now or hereafter in force with respect in any way to the environment, health,
occupational health and safety, product liability or transportation of dangerous goods, including all applicable guidelines, rules, permit requirements, criteria, policies and standards with respect to the foregoing as adopted by any governmental
authority from time to time;
  

 
	 	
 

  

  
 "Goods and Services Tax" means the tax
levied and contained in Part IX to the Excise Tax Act (Canada) and in consequential amendments to other federal statutes, as amended from time to time and any other taxes, fees, levies, charges, assessments, duties and excises (whether characterized
as sales tax, purchase tax, value-added tax, goods and services tax or any other form) which are imposed on the Landlord or which the Landlord is liable to pay, and which are levied, rated, or assessed by the governmental authority whatsoever on the
act of entering into this Lease or otherwise on account of this Lease, or on the use or occupancy of the Leased Premises or any portion thereof, or on the Rent or any portion thereof, or in connection with the business of renting the Leased Premises
or any portion thereof, but excluding taxes and income tax under Part 1 of the Income Tax Act of Canada as at the date of this Lease;
  

"Indemnifier" means the person who has executed or agreed to execute the Indemnity Agreement which is attached to this Lease as schedule "E", if
applicable;
  
 "Landlord" means the Landlord and its
successors and assigns;
  
 "Landlord's Income Taxes" means
all income or profits taxes upon the income of the Landlord to the extent that such taxes are not levied in lieu of taxes, rates, duties, levies and assessment against the Development or upon the Landlord in respect thereof;

 
 "Lands" means those certain lands and premises in the City of
Vancouver, British Columbia, being more particularly described as: PID 011-282-177,
 Lot B of Lot 6, Block 16, District Lot 541, Group 1, Plan 4903, City of
Vancouver.
  
 "Lease" means this Lease as from time to time
amended or renewed;
  
 "Lease Year" means a period of twelve
(12) months commencing on the first day of January in each year except that:
  

		(i)	the first Lease Year begins on the first day of the Term and ends on the last day of the calendar year in which the first day of the Term occurs, and

 

		(ii)	the last Lease Year of the Term begins on the first day of the calendar year during which the last day of the Term occurs and ends on the last day of the Term,

 
 provided that the Landlord may from time to time by written notice to
the Tenant specify an annual date upon which each subsequent Lease Year is to commence, in which event the Lease Year which would otherwise be current when such annual date first occurs thereafter shall terminate on the preceding day;

 
 "Leased Premises" means the premises in the Development shown
outlined in cross hatching on Schedule "A" annexed hereto (excluding therefrom any portion of the exterior face of the Development);
  

"Mortgage" means any mortgage or charge (including a deed of trust and mortgage securing bonds and all indentures supplemental thereto) which may now or
hereafter affect the Development;
  
 "Mortgagee" means the
mortgagee, chargee or trustee for bondholders, as the case may be, named in a Mortgage;
  

"Operating Costs" means the aggregate without duplication, of all costs, expenses, fees, rentals and disbursements of every kind and nature, direct or
indirect, incurred, accrued or attributed by or on behalf of the Landlord in the complete maintenance, repair, operation, supervision and management of the Development and, without limitation, shall include:

 

		(i)	the cost of providing cleaning, janitorial, landscaping, supervisory, maintenance and other services;

  

		(ii)	the cost of heating, cooling and ventilating the Development and the cost of providing water, electricity and all other utilities and services not payable by a specific tenant of the Development;

 

		(iii)	the cost of policing and providing security for and supervision of the Development;

  

		(iv)	the cost of all insurance in respect of the Development maintained by the Landlord, including loss of rentals insurance;

 

		(v)	the cost of all repairs, maintenance and replacements properly chargeable against income made from time to time by the Landlord, or on its behalf, to the Leased Premises or Common Area and its appurtenances and
equipment,;

  

		(vi)	fees and expenses incurred for legal, accounting and other professional services relating to the Development;

 

		(vii)	the fair market rental value of space in the Development, as determined by the Landlord from time to time, which would otherwise be rentable but which the Landlord uses in leasing, operating, managing or maintaining
the Development;

  

		(viii)	salaries, wages and fringe benefits of all personnel, including supervisory personnel, employed directly in the maintenance, repair, operation or management of the Development;

 

		(ix)	amounts paid to independent contractors for any services in connection with the Development and amounts payable for the rental of any equipment, installations or signs;

 

		(x)	all Taxes, business taxes payable by or on account of other tenants or other businesses on the Development or on any other taxes, if any, from time to time payable for or attributed by the Landlord to the Common Areas
or other areas of the Development, and Corporation Capital Tax;

  

		(xi)	all expenditures for equipment, systems or alterations undertaken primarily to improve the Development, conserve energy, or reduce Operating Costs unless the Landlord elects to depreciate or amortize such expenditures
and thus includes them in the costs referred to in subparagraph (xii) below;

  

		(xii)	depreciation or amortization of (a) the cost of all plant, equipment, fixtures, furnishings and artwork forming part of the Common Areas or otherwise serving the Development; (b) expenditures for equipment, systems or
alterations undertaken primarily to improve the Development, conserve energy or reduce Operating Costs unless they are, pursuant to subparagraph (xi) above, charged fully in the Lease Year in which they are incurred in accordance with sound
accounting principles; and (c) the costs incurred after the date of commencement of the Term for repairing or replacing all fixtures, equipment and facilities comprising the Common Areas or serving the Development (including all fixtures and
equipment used for heating, ventilating and air conditioning the Development) and portions of the Development (including leasable premises) which consist of foundations, exterior weather walls, structural subfloors and roofs, the structural portions
of bearing walls and structural columns and beams unless they are pursuant to subparagraph (v) above, charged fully in the Lease Year in which they are incurred in accordance with sound accounting principles; in each case together with interest
thereon at a rate equal to one Percent (1%) above the interest rate from time to time charged to the Landlord by its chartered bank at the beginning of each Lease year on the undepreciated capital cost of all such items being depreciated from time
to time;

  

 
	 	
 

  

  
  

		(xiii)	an administrative and supervisory fee equal to three percent (3%) of the gross collections of all amounts (including amounts of the nature of Additional Rent) from all tenants or occupants of the
Development;

  

		(xiv)	a reasonable amount, as determined by the Landlord from time to time, of costs incurred by or on behalf of tenants on the Lands with whom the Landlord may have agreements whereby in respect of their premises those
tenants perform any cleaning, maintenance, or other work or services which, if directly incurred by the Landlord, would have been included in Operating Costs; and

 

		(xv)	Goods and Services Tax, Social Services Taxes, Use and Excise Taxes on goods and services purchased by the Landlord;

 
 but shall exclude:

 

		(A)	debt service payable upon the Landlord's financing of the Development;

  

		(B)	any rental payments payable by the Landlord pursuant to any lease of the Lands; and

  

		(C)	costs determined by the Landlord from time to time to be fairly allocable to the correction of construction faults;

 
 and there shall be deducted from Operating Costs net proceeds received by the
Landlord from its insurance policies to the extent that such proceeds relate to costs and expenses included in the Operating Costs;
  

and in computing Operating Cost, if less than 100% of the Rentable Area of the Development is occupied during any period for which a
computation must be made, the amount of Operating Cost will be increased by the amount of the additional costs determined by the Landlord, acting reasonably, that would have been incurred had 100% of the Rentable Area of the Development been
completed or occupied during that period provided that in no event will Operating Cost increase by more than 10% from any previous year because of such calculation.

 
 "Rent" means Basic Rent and Additional Rent;

 
 "Rentable Area" means an area, expressed in square feet, made
pursuant to Section 4.03;
  
 "Taxes" means all taxes rates,
duties, levies, fees, charges, sewer levies, local improvement rates, and assessments whatsoever, imposed, assessed, levied, rated or charged against the Development or any part thereof from time to time by any lawful taxing authority whether
school, municipal, regional, provincial, federal, parliamentary or otherwise and any taxes or other amounts which are imposed in lieu of, or in addition to, any of the foregoing whether or not in existence at the commencement of the Term and whether
of the foregoing character or not and any such taxes levied against the Landlord on account of its ownership of the Development or its interest therein but excluding Landlord's Income Taxes;

 
 "Tenant" means the Tenant and its successors, assigns and
legal representatives, as limited by this Lease;
  
 "Tenant's Proportionate Share"
means a number the numerator of which is the Rentable Area of the Leased Premises, and the denominator of which is the Rentable Area of the Development less the areas, if any, occupied by the Landlord or its agents or contractors in order to
maintain, repair, operate, manage and supervise the Development; and less the Rentable Area of the Development which is not leased at the time of the calculation, but in no event shall such area exceed three percent (3%) of the Rentable Area of the
Development;
  
 "Term" means the term of this Lease as
specified in Section 3.01;
  
 "Unavoidable Delay" means any
cause beyond the control of the Party affected thereby which prevents the performance by such Party of any obligation hereunder and not caused by its default or act of commission or omission and not avoidable by the exercise of reasonable effort or
foresight by such Party, excluding financial inability, but including, without limitation strikes, lockouts, or other labour or industrial disturbances, civil disturbance, acts, order, legislation, regulations or directives of any government or
other public authorities, acts of the public enemy, war, riot, sabotage, blockage, embargo, shortage of materials and supplies, shortage of labour, lightning, earthquake, fire, storm, hurricane, flood, washout, explosion, act of God, and delays
caused by any other Party hereto other than the Party relying upon such unavoidable delay.
  

Section 1.02 - Schedules
  

The following Schedules of this Lease constitute part of this Lease

 
 Schedule "A" - Plan of Leased Premises

Schedule "B" - Plan of 815 West Hastings Street Development

Schedule "C" - Rules and Regulations
 Schedule
"D" - Special Provisions
  
 Provided however, in the event of
a conflict between the terms and conditions of this Lease and any Schedule, the terms and conditions of this Lease shall govern.
  

Section 1.03 - Extended Meanings
  

The words "hereof", "herein", "hereunder" and similar expressions used in any Section or Subsection of this Lease
relate to the whole of this Lease and not to that Section or Subsection only, unless otherwise expressly provided. The use of the neuter singular pronoun to refer to the Landlord or the Tenant is deemed a proper reference even though the Landlord or
the Tenant is an individual, a partnership, a corporation or a group of two or more individuals, partnerships or corporations. The necessary grammatical changes required to make the provisions of this Lease apply in the plural sense where there is
more than one Landlord or Tenant and to either corporations, associations, partnerships or individuals, males or females, shall in all instances be assumed as though in each case fully expressed. If there is more than one named Tenant the
obligations of each named Tenant shall be joint and several.
  

 
	 	
 

  

  
 Section 1.04 - Headings and
Captions
  
 The Table of Contents, Article
numbers, Article headings, Section numbers and Section headings are inserted for convenience of reference only and are not to be considered when interpreting this Lease.

 
 Section 1.05 - Obligations as Covenants

 
 Each obligation of the Landlord or the Tenant
expressed in this Lease, even though not expressed as a covenant, shall be a covenant for all purposes.
  

Section 1.06 - Entire Agreement
  

This Lease contains all the representations, warranties, covenants agreements, conditions and understandings between the Landlord and the Tenant
concerning the Leased Premises or the subject matter of this Lease and may be amended only by an agreement in writing signed by the Parties hereto.
  

Section 1.07 - Governing Law
  

This Lease shall be interpreted under and is governed by the Laws of the Province of British Columbia.

 
 Section 1.08 - Severability

 
 If any provision of this Lease is illegal or
unenforceable it shall be considered separate and severable from the remaining provisions of this Lease, which shall remain in force and be binding as though the said provision had never been included.

 
 Section 1.09 - Successors and Assigns

 
 This Lease and everything herein contained shall
enure to the benefit of and be binding upon the successors and assigns of the Landlord and the executors and administrators and permitted successors and assigns of the Tenant.

 
 Section 1.10 - Time of the Essence

 
 Time is of the essence of this Lease and of every
part hereof.
  
 Section 1.11 - Confidential Nature of Lease

 
 The Tenant hereby agrees that this Lease is a
confidential document and that it will make no use of this Lease or any provisions hereof or information delivered to the Tenant except in connection with the tenancy created hereunder. The Landlord hereby agrees that it will not use any statements
delivered by the Tenant or any Tenant's records inspected by the Landlord hereunder except for the purpose of ascertaining and verifying the amount of rental payable by the Tenant under the terms of this Lease, or except as otherwise may be required
by law.
  
 Section 1.12 - Tenant Partnership

 
 If the Tenant is a partnership (the "Tenant
Partnership") each person who is presently a member of the Tenant Partnership, and each person who becomes a member of any successor Tenant partnership hereafter, shall be and continue to be liable jointly and severally for the full and
complete performance of, and shall be and continue to be subject to the terms, covenants and conditions of this Lease, whether or not such person ceases to be a member of such Tenant Partnership or successor Tenant Partnership. Each person on
becoming a member of the Tenant Partnership, or any successor Tenant Partnership shall enter into such further and other documents as the Landlord may reasonably require for the purpose of this Section 1.12.

 
  

ARTICLE 2
 DEMISE

 
 Section 2.01 - Leased Premises

 
 The Landlord hereby demises and leases the Leased
Premises to the Tenant for the Term, upon and subject to the covenants, conditions and agreements herein expressed. The Landlord and Tenant agree that the Rentable Area of the Leased Premises is four thousand four hundred seventy seven (4,477)
square feet in suite 310 on the 3rd floor.
  
  

ARTICLE 3
 TERM

 
 Section 3.01 - Term

 
 The Term shall be the period of five (5) years
commencing on the 1st day of September, 2019 unless terminated earlier as provided in this Lease and ending on the 31st day August of 2024.
  

Section 3.02 - Overholding
  

If at the expiration of the Term or earlier termination thereof the Tenant remains in possession without any further written agreement, but with
the express consent of the Landlord, or in circumstances where a tenancy would thereby be implied by law, the Tenant shall be deemed to be a monthly tenant only, paying a Basic Rent monthly in advance equal to two times the Basic Rent as determined
in accordance with Section 4.01 plus the Tenant's Proportionate Share of Operating Costs and Taxes payable in the immediately preceding Lease Year and otherwise upon and subject to the same terms and conditions of this Lease excepting provisions as
to length of tenancy and rights of renewal, if any, contained herein. Nothing herein contained shall preclude the Landlord from taking any action to recover possession of the Leased Premises.

 

 
	 	
 

  

  
 ARTICLE 4

RENT
  

Section 4.01 - Basic Rent
  

The Tenant shall pay to the Landlord as annual rental for the Leased Premises yearly and every year during the Term, without any deduction,
abatement, set-off or compensation whatsoever, the sums as set out below, to be paid on the first day of each month and every calendar year of the Term.

 

	Basic Rent	Per Sq. Ft.	Per Annum	Monthly Rate
	September 1, 2019 to August 31, 2021	[*]	$129,833.00	$10,819.42
	September 1, 2021 to August 31, 2023	[*]	$134,310.00	$11,192.50
	September 1, 2023 to August 31, 2024	[*]	$143,264.00	$11,938.67

 
 If requested by the Landlord from time to time, the Tenant will provide
to the Landlord without prejudice to any other right or remedy of the Landlord a series of cheques, post-dated to the respective due dates of payments, for the amounts of the Rent and estimates on account thereof which are periodically payable under
this Lease.
  
 Section 4.02 - Additional Rent

 
 The Tenant shall also pay to the Landlord yearly and
every year during the Term the aggregate of the Tenant's Proportionate Share of Operating Costs and Taxes and all other items of Rent or other sums payable by the Tenant hereunder without any deduction, abatement, set-off or compensation
whatsoever.
  
 Section 4.03 - Determination of
Rentable Area
  
 The Rentable Area of the Leased
Premises and the Rentable Area of the Development shall be determined in the first instance by the Landlord in accordance with the new BOMA Standard Method for Measuring Floor Area in Office Buildings dated June 1996. The Rentable Area of the Leased
Premises, the Development or any other component of the Development shall be conclusively deemed to be the area, expressed in square feet, set out in a certificate of the Landlord or Architect.

 
 Section 4.04 - Payment of Tenant's Proportionate Share

 
 Prior to the commencement of the Term and the
commencement of each Lease Year, the Landlord shall notify the Tenant of its estimate of the Tenant's Proportionate Share of Operating Costs and Taxes for the next ensuing Lease Year. The Tenant shall pay such estimated amount in equal monthly
instalments in advance on the first day of each month during the Lease Year. From time to time during a Lease Year the Landlord may re-estimate the amount of the Tenant's Proportionate Share of Operating Costs and Taxes and shall fix monthly
instalments for the then remaining balance of the Lease Year so that the Tenant's Proportionate Share of Operating Costs and Taxes will have been entirely paid during the Lease Year or before the due date for payment of any such Operating Costs or
Taxes. When the necessary information becomes available, the Landlord shall make a final determination of the Tenant's Proportionate Share of Operating Costs and Taxes for each Lease Year, which shall be binding upon both Parties, and shall provide
the Tenant with a statement of the Operating Costs and Taxes for the relevant Lease Year. The Landlord and the Tenant shall expeditiously make any necessary re-adjusting payments provided that the Tenant may not claim a re-adjustment based solely
upon any error of estimation, determination or calculation unless claimed in writing within one (l) year after the Lease Year to which the claim relates.

 
 Whenever, in the Landlord’s
opinion, any component of Operating Costs or Taxes relate to only a portion of the Development and the Premises are located within such portion, or to the extent that any component of Operating Costs or Taxes should be attributed or allocated, in
the opinion of the Landlord, to the Tenant or to any other tenant or group of tenants, the Landlord may (but shall not be obligated to) attribute or allocate the cost of such component of Operating Costs or Taxes to the Tenant or calculated in
relation to the Rentable Area of such portion of the Development alone. In making any such allocation or attribution the Landlord may have regard to such criteria it determines are relevant, including without limitation amongst other things, the
various uses of the premises so leased; the location of such individual premises so leased and the probable or apparent use made of various portions of the Development by specific tenants, their contractors, agents, employees, licensees,
concessionaires, subtenants, customers and invitees.
  

Whenever the Landlord performs work or supplies services pursuant to this Lease, or causes the same to be performed or supplied, which is or are
the responsibility of the Tenant, or for which expense the Tenant is responsible, the Tenant shall pay to the Landlord upon demand, as Additional Rent, in addition to the amount otherwise payable to the Landlord in respect thereof Pursuant to this
Lease, an Administrative Charge on all costs, fees and expenses incurred by the Landlord in connection therewith.
  

Section 4.05 - Accrual of Rent
  

Rent shall be considered as accruing from day to day hereunder and where it becomes necessary for any reason to calculate such Rent for an
irregular period of less than one (1) year or less than one (l) calendar month, an appropriate apportionment and adjustment shall be made. If the Term commences on any day other than the first day of a month, Rent for such fraction of a month shall
be adjusted, as aforesaid, and paid by the Tenant on the commencement date of the Term.
  

Section 4.06 - Currency and Place of Payment
  

All Rent hereunder shall be payable in lawful money of Canada and shall be paid to the Landlord at the Landlord's address for notices as provided
in Section 18.01 or to such person at such address as the Landlord may from time to time direct by notice to the Tenant.
  

Section 4.07 - Additional Rent Treated As Rent
  

All Additional Rent whether in the nature of rent or not shall be deemed to be and be treated as Rent and payable and recoverable as Rent, but in the manner as herein
provided, and the Landlord shall have all rights against the Tenant for default in any such payment as in the case of arrears of Rent.
  
 The Tenant shall pay to the Landlord Goods and Services Tax in accordance with the
applicable legislation at the same time as the amounts to which such goods and services tax apply are payable to the Landlord under the terms of this Lease or upon demand at such other time or times as the Landlord from time to time determines.
Notwithstanding any other section of this Lease, the amount payable by the Tenant under this clause shall be deemed not to be Rent, but the Landlord shall have the same remedies for and rights of recovery of such amount as it has for recovery of
Rent under this Lease.
  
 Section 4.08 - Interest on Amounts in Default

 
 If the Tenant fails to pay when due any amount of Rent, the unpaid
amount will bear interest calculated and payable monthly from the due date to the date of payment at the rate per annum which is five percent (P+5%) above the prime rate from time to time charged by the Landlord's chartered bank for loans in
Canadian dollars to its most credit-worthy commercial customers. In addition, the Tenant will pay an administration fee of $25 to the Landlord for any late payment, except in the case of a Tenant’s cheque returned by the bank marked
“insufficient funds”, in which case the administration fee shall be $50.
  

 
 

 

 [*] = Certain confidential information contained in this document, marked by brackets, has been omitted because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed.
 
  

 
 

 

 
	 	
 

  

  
 Section 4.09 - Net Lease to Landlord

 
 The Tenant acknowledges and agrees that it is
intended that this Lease shall be a completely carefree net lease for the Landlord, except as expressly herein set out, and that the Tenant shall pay, except as herein expressly set out;

 

		(a)	all costs, charges, expenses and outlays of every kind relating to or affecting the Leased Premises, and

		(b)	as provided in this Lease its share of all costs, charges, expenses and outlays of every kind relating to or affecting the Leased Premises or Common Areas.

 
 ARTICLE 5

GENERAL COVENANTS
  

Section 5.01 - Landlord's Covenants
  

The Landlord covenants with the Tenant:
  

		(a)	for quiet enjoyment; and

		(b)	to observe and perform all the covenants and obligations of the Landlord herein; and

		(c)	that the Tenant, paying the Rent hereby reserved and performing the covenants and obligations on the Tenant's part herein contained, shall and may peacefully possess and enjoy the Leased Premises for the term herein
granted without any interruption or disturbance from the Landlord or any other person or persons lawfully claiming by, from or under the Landlord, subject always to the terms, covenants and conditions contained in this Lease.

 
 Section 5.02 - Tenant's Covenants

 
 The Tenant covenants with the Landlord:

 

		(a)	to pay Rent; and
		(b)	to observe and perform all the covenants and obligations of the Tenant herein.

  

 
 ARTICLE 6

BUILDING SERVICES, COMMON AREAS, UTILITIES
  

Section 6.01 - Heating, Ventilating and Air Conditioning
  

The Landlord shall provide processed air in such quantities and at such temperatures as shall maintain in the Leased Premises conditions of
reasonable temperatures and comfort during Business Hours. In no event, however, shall the Landlord have any obligation or liability in connection with the cessation, interruption or suspension of the supply of such processed air but the Landlord
shall use its reasonable efforts to restore it. The Landlord shall not be responsible for the failure of the heating, ventilating and air conditioning equipment and systems to perform their function if this is attributable to any arrangement of
partitioning in the Leased Premises or failure to shade windows which are exposed to the sun, or any use of electrical power by the Tenant which, in the Landlord's opinion, is excessive; and provided further that the Landlord shall not be liable for
direct, indirect or consequential damages or damages for personal discomfort or illness of the Tenant, its servants, employees, invitees, clients or customers by reason of the operation or non-operation of such equipment or systems, nor shall there
be repayment or reduction of the Rent during any such non-operation. The interior office layout of the Leased Premises shall be modified by the Tenant, if necessary, in accordance with the reasonable requirements of the Landlord to secure maximum
efficiency of the heating, ventilating and air conditioning systems serving the Leased Premises.
  

Section 6.02 - Common Area
  

The Landlord shall operate, maintain and repair the Common Areas in accordance with the standards applicable for comparable office buildings in
the City of Vancouver. The Tenants shall be entitled to the use of the Common Areas subject to the rules and regulations referred to in Section 7.04 provided that the Common Areas shall at all times be subject to the exclusive control and management
of the Landlord. The Landlord shall be entitled to construct, alter, maintain, operate and police the same, change the area, location and arrangement thereof, and make all rules and regulations pertaining to and necessary for the proper operation
and maintenance thereof; provided that in exercising such rights the Landlord shall make reasonable efforts to minimize interference with the Tenant's use of the Leased Premises. The Tenant and all other persons permitted to use the Common Areas
shall do so at their sole risk. In no event shall the Landlord be responsible for any interruption in elevator service provided that the Landlord proceeds expeditiously to restore service, nor shall there be repayment or reduction of the Rent.

 
 Section 6.03 - Janitorial Services

 
 The Landlord shall provide janitorial services to
the Leased Premises to a standard similar to that provided to comparable office buildings in the City of Vancouver at the date of this Lease, provided that all curtains, carpets, rugs or drapes of any kind (if any) in the Leased Premises shall be
cleaned and maintained by the Tenant. The Landlord shall not be responsible for any omissions or act of any person employed or retained to perform such work, or for any loss thereby sustained by the Tenant, its servants, agents, invitees or others.
The Tenant shall not engage any person or entity to provide janitorial services to the Leased Premises without the written approval of the Landlord. The Tenant shall grant access necessary for the performance of the janitorial services and shall
leave the Leased Premises in a reasonably tidy condition at the end of each day to permit the performance of such services.
  

Section 6.04 - Utilities
  

The Landlord shall, subject to interruptions beyond its control, provide and permit the Tenant to use any utility service (including electricity
and water) serving the Development, provided that the Tenant does not overload the capacity of any such service. The Tenant shall pay to the Landlord, or as it otherwise directs, as Additional Rent all costs and expenses relating to such use. The
Tenant shall make such payments in monthly instalments in advance based upon estimates by the Landlord and subject to adjustment by the Landlord within a reasonable time after the end of the Lease Year for which such estimate has been made; if
required by the Landlord, the Tenant shall install at its own expense (and in a location designated by the Landlord)
 its separate check meter for the purpose of
measuring, without limitation, the consumption of electricity and water in the Leased Premises. The Tenant shall advise the Landlord forthwith of any installations, appliances or business machines used by the Tenant which are likely to require large
consumption of electricity or other utilities. The Landlord shall replace from time to time electrical light bulbs, tubes and ballasts serving the Leased Premises and the Tenant shall pay to the Landlord forthwith upon demand as Additional Rent the
cost thereof plus an Administrative Charge.
  
 Upon
request by the Tenant, the Landlord may agree from time to time to supply additional heating, ventilating, and air-conditioning, electricity, or other services to the Leased Premises above those normally provided to tenants of the Development or
outside Business Hours. The Tenant will pay to the Landlord in the manner in which Operating Cost is paid any additional costs of the Landlord which may arise in respect thereof, plus an Administrative Charge.
  

 
	 	
 

  

  
 ARTICLE 7

USE AND OCCUPANCY OF LEASED PREMISES
  

Section 7.01 - Use
  

The Leased Premises shall not be used or occupied for any purpose other than an office for the conduct of general office use.

 
 The Tenant shall not carry on or permit to be carried on therein any other trade or business
without the prior written consent of the Landlord. The Tenant shall not use or permit to be used any part of the Leased Premises in any manner which directly or indirectly interferes with the free ingress and egress of other tenants, their servants,
agents, licensees or invitees, to or from the Development, central corridors, elevators or other Common Areas, and without limitation, the Tenant shall not suffer or permit picketing arising from a trade union or other labour dispute in any part of
the Common Areas.
  
 The Tenant shall not, at any time, unless
expressly consented to in writing in advance by the Landlord, conduct on the Leased Premises any operation in which the Tenant uses any fraudulent or deceptive advertising or selling procedures or any other
business which because of the services likely to be sold or the methods likely to be used would in the opinion of the Landlord tend to lower the character of the Development.

 
 Section 7.02 - Nuisance

 
 The Tenant shall not carry on any business or do or
suffer any act or thing which constitutes a nuisance or which is offensive, or any annoyance to the Landlord or other occupant of the Development.
  

Section 7.03 - Compliance With Laws
  

The Tenant shall promptly comply with and conform to the requirements of every applicable statute, law, by-law, regulation, ordinance and order at
any time or from time to time in force during the Term affecting the Leased Premises or the leasehold improvements, trade fixtures, furniture and equipment installed by the Tenant. If any obligation to modify, extend, alter or replace any part of
the Leased Premises or any such improvements, fixtures, furniture or equipment is imposed upon the Landlord, the Landlord may at its option either do or cause to be done the necessary work, at the expense of the Tenant, or forthwith give notice to
the Tenant to do so within the requisite period of time, failing which the Landlord may by further notice to the Tenant terminate this Lease. The costs of any work done by the Landlord, shall be payable by the Tenant to the Landlord forthwith upon
demand as Additional Rent plus an Administrative Charge.
  

Section 7.04 - Compliance With Rules and Regulations
  

The Tenant shall comply with the rules and regulations annexed hereto as Schedule "C", and cause everyone for whom the Tenant is in law
responsible or over whom the Tenant might reasonably be expected to have control to do the same. The Landlord shall have the right from time to time during the Term to make reasonable amendments, deletions and additions to such rules and
regulations. Such rules and regulations, together with all reasonable amendments, deletions and additions made thereto by the Landlord and of which notice shall have been given to the Tenant, shall be deemed to be part of this Lease provided that in
the event of a conflict, the provisions of this Lease shall prevail.
  

Section 7.05 - Signs and Advertising
  

The Development shall be known and identified as 815 WEST HASTINGS LTD. or by such other name as designated by the Landlord from time to
time. The Tenant shall not erect any sign or advertising material upon any part of the Development, including the Leased Premises. The Tenant shall be entitled to have its name upon the directory board installed by the Landlord in the ground floor
lobby of the Development and, at its own expense, shall be entitled to require the Landlord to affix to the entrance of the Leased Premises its name in accordance with the Landlord's uniform scheme of tenants' identification or such other scheme as
may be approved in writing by the Landlord, which approval may be arbitrarily withheld.
  

Section 7.06 - Disfiguration, Overloading, etc.
  

The Tenant shall not do or suffer any waste or damage, disfiguration or injury to the Leased Premises and shall not permit or suffer any
overloading of the floors, thereof or the bringing into any part of the Development, including the Leased Premises, any articles or fixtures that by reason of their weight or size might damage or endanger the structure of the Development.

 
 Section 7.07 - Energy Conservation

 
 The Tenant shall comply with any measures the
Landlord or any legislative authority may from time to time introduce to conserve or to reduce consumption of energy or to reduce or control Operating Costs or pay as Additional Rent the cost, to be estimated by the Landlord acting reasonably, of
the additional energy consumed by reason of such non-compliance. The Tenant shall also convert to whatever system or units of measurement of energy consumption the Landlord may from time to time adopt.

 
 Section 7.08 - Remedial Action

 
 If the Tenant is in breach of any of its obligations
or restrictions stipulated in this Article 7, the Landlord may, in addition to any other remedies that it may have hereunder, enter upon the Leased Premises and take such remedial action as is necessary to remedy the breach and repair any damage
caused thereby and the Tenant shall forthwith upon demand pay to the Landlord as Additional Rent the Landlord's costs incurred in connection therewith plus an Administrative Charge.

 
 Section 7.09 - Glass

 
 The Tenant shall restore forthwith, at the Tenant's
expense, and with glass of the same colour and quality, any broken or damaged glass in or on the Leased Premises, including glass doors and sidelights leading into or out of the Leased Premises. The Tenant shall also be responsible for the cost of
repairing or replacing any damaged or broken glass in the exterior windows of the Leased Premises if such damage was caused by the Tenant or those for whom the Tenant is in law responsible.

 
 ARTICLE 8

INSURANCE
  

Section 8.01 - Tenant's Insurance
  

The Tenant shall effect and maintain during the Term:

 

		(i)	"All Risks" insurance upon all property owned by the Tenant or for which it is legally liable or installed or affixed by or on behalf of the Tenant and which is located in the Development including, without
limitation, furniture, fittings installations, alterations, additions, partitions and fixtures or anything in the nature of a leasehold improvement made or installed by or on behalf of the Tenant, in an amount equal to the full replacement cost
thereof;

  

 
	 	
 

  

  

		(ii)	comprehensive general liability insurance against claims for death, personal injury and property damage in or about the Leased Premises, in amounts satisfactory from time to time to the Landlord acting reasonably, but
in any event in an amount not less than Three Million Dollars ($3,000,000.00) per occurrence for personal injury and property damage;

  

		(iii)	"All Risks" tenant's legal liability insurance for limits satisfactory from time to time, to the Landlord acting reasonably; and

 

		(iv)	any other form of insurance that the Landlord or any Mortgagee may reasonably require from time to time, in form, amounts and for insurance risks acceptable to the Landlord and any Mortgagee.

 
 Section 8.02 - Form of Policies

 
 Each policy required pursuant to Section 8.01 shall
be in form and with insurers acceptable to the Landlord. The insurance described in Subsections 8.01 (i) and (ii) [or any other policy, if required by the Landlord] shall name as additional insured the Landlord and anyone designated in writing by
the Landlord. Such policies shall contain an endorsement requiring the insurers under such policies to notify the Landlord in writing at least thirty (30) days prior to any material change or cancellation thereof . The Tenant shall furnish to the
Landlord prior to the commencement of the Term certified copies of all such policies for its acceptance, as aforesaid, and shall provide written evidence of the continuation of such policies not less than ten (10) days prior to their respective
expiry dates. The cost or premium for each and every such policy shall be paid by the Tenant. If the Tenant fails to maintain such insurance the Landlord shall have the right, but not the obligation, to do so, and to pay the cost or premium
therefor, and in such event the Tenant shall repay to the Landlord, as Additional Rent, forthwith on demand the amount so paid.
  

Section 8.03 - Release of Landlord
  

The acquisition and maintenance by the Tenant of the insurance policies as required pursuant to Section 8.01 shall not limit or restrict the
liability of the Tenant under this Lease. The Tenant hereby releases the Landlord and any person for whom the Landlord is legally responsible from any liability for loss to the extent of all insurance proceeds paid under the policies of insurance
maintained by the Tenant or which would have been paid if the Tenant had maintained the insurance it is required to maintain under this Lease and had diligently processed any claims thereunder.

 
 Section 8.04 - Landlord's Insurance

 
 The Landlord shall during the Term and any renewals
thereof, take out and maintain in full force and effect insurance against risk of physical loss or damage to the Development, and such fixtures and improvements as the Landlord shall determine, and subject to such deductibles as the Landlord may
reasonably determine. Provided however, the insurance shall not cover any property of the Tenant, whether owned by the Tenant or held by it in any capacity, nor leasehold improvements whether made by or on behalf of the Tenant. Notwithstanding any
contribution by the Tenant to any insurance costs as provided for herein, no insurable interest shall be conferred upon the Tenant under policies carried by the Landlord.

 
 Section 8.05 - Insurance Risks

 
 The Tenant shall not do, omit to do, or permit to be
done or omitted to be done upon the Leased Premises anything that may contravene or be prohibited by any of the Landlord's insurance policies in force from time to time covering or in respect of any part of the Development or which would prevent the
Landlord from procuring such policies with companies acceptable to the Landlord. If the occupancy of the Leased Premises, the conduct of business in the Leased Premises or any acts or omissions of the Tenant in the Leased Premises or any other
portion of the Development, causes or results in any increase in premiums for any such Landlord's policies, the Tenant shall pay any such increase as Additional Rent forthwith upon receipt of the invoices of the Landlord for such additional premiums
plus an Administrative Charge. If the Tenant shall be in breach of these provisions the Tenant shall be responsible for all consequences flowing therefrom and shall indemnify the Landlord in respect thereof and if the rate of insurance is
substantially increased or if the coverage of such insurance is substantially decreased, or such insurance is cancelled as a result thereof, at the option of the Landlord, the Term shall immediately terminate upon written notice to that effect to
the Tenant.
  
 ARTICLE 9

REPAIR AND DAMAGE
  

Section 9.01 - Landlord's Obligations
  

The Landlord shall at all times during the Term keep the Development (other than the Leased Premises and premises of other tenants) in good and
substantial state of repair consistent with the general standards of comparable office buildings in the City of Vancouver, including the foundation, roof, exterior walls, systems for interior climate control, elevators, entrances, stairways,
corridors, lobbies and washrooms used in common by the Tenant and other tenants of the Development, provided that such obligation is subject to reasonable wear and tear and Sections 9.04 and 9.05. Subject to Section 13.05, the Landlord shall also
repair defects in construction performed, or installations made by the Landlord in the Leased Premises.
  

Section 9.02 - Tenant's Obligation
  

The Tenant shall at all times during the Term, subject to Section 9.05, at its own expense keep the Leased Premises, including all leasehold
improvements and fixtures therein, in a good and substantial state of repair consistent with the general standards of comparable office buildings in the City of Vancouver, excepting reasonable wear and tear and repairs to be made by the Landlord
under Section 9.01. The Tenant shall permit the Landlord to enter the Leased Premises and view the state of repair, and repair according to notice.
  

Section 9.03 - Tenant's Liability
  

The Tenant shall reimburse to the Landlord promptly upon demand the total cost of repairs or replacements to any part of the Development,
including Common Areas, which is damaged or destroyed through the negligence or misuse of the Tenant or its employees, invitees or others under its control.

 
 Section 9.04 - Damage - Landlord's Liability

 
 Except to the extent the same is caused by the
negligence or unlawful acts of the Landlord or by the negligence or unlawful acts of other persons for whom and in respect of which the Landlord is in law responsible, the Landlord, its agents, servants and employees, shall not be liable for:

 

		(i)	damage to or destruction or loss of any property of the Tenant which is entrusted to the care or control of the Landlord, its agents, servants or employees;

 

		(ii)	any personal or consequential injury of any nature whatsoever (including, without limitation, loss of business income) that may be suffered or sustained by the Tenant or any employee, agent, customer, invitee or
licensee of the Tenant or any other person who may be upon the Leased Premises, or for any loss of or damage or injury to any property belonging to the Tenant or its employees or to any other person while such property is on the Leased Premises and,
in particular (but without limitation), the Landlord shall not be liable for any damage of any nature whatsoever to any such property caused by the failure to supply adequate interior climate control, or by reason of the interruption of any public
utility or service, or in the event of steam, water, rain, ice or snow which may leak into, issue, or flow from any part of the Development or from the water, steam, sprinkler, or drainage pipes or plumbing works of the same, or from any other place
or for any damage caused by anything done or omitted by any other tenant of the Development; or

  

 
	 	
 

  

  

		(iii)	any damage to the Leased Premises or the contents thereof incurred by reason of the Landlord, its agents, servants, employees or contractors entering upon the Leased Premises to undertake any examination thereof or
any work therein.

  
 Section 9.05 - Abatement and
Termination
  
 The Landlord and the Tenant
agree that:
  

		(i)	if there is damage to the Leased Premises caused by any casualty insured against by the Landlord pursuant to Section 8.04 and if the damage is such that the Leased Premises or any substantial part thereof are rendered
not reasonably capable of use and occupancy by the Tenant for the purposes of its business for any period in excess of ten (10) days, then:

 

		(A)	unless the damage was caused by the fault or negligence of the Tenant or an assignee, subtenant, concessionaire, licensee or other person conducting business on or from the Leased Premises or an officer, employee,
agent, customer, invitee or licensee of any of them, from and after the expiration of ten (10) days after the date of the occurrence of the damage, the Basic Rent payable under Section 4.01 shall abate until at least a substantial part of the
Premises is again reasonably capable of use and occupancy for the purpose aforesaid, such abatement to be from time to time in the proportion that the Rentable Area of the part or parts of the Leased Premises rendered not reasonably capable of such
use and occupancy bears to the Rentable Area of the Leased Premises, but not to exceed the amount of rental income insurance proceeds paid to the Landlord for the relevant period; provided that to the extent that any part of the Leased Premises is
not reasonably capable of use and occupancy by reason of damage which the Tenant is obliged to repair, any abatement of Rent to which the Tenant is otherwise entitled shall not extend beyond the time by which, in the reasonable opinion of the
Landlord, repairs by the Tenant ought to have been completed; and

  

		(B)	unless this Lease is terminated as hereinafter provided, the Landlord or the Tenant, as the case may be, will repair such damage with all reasonable diligence, (according to their respective obligations to repair set
forth in Sections 9.01 and 9.02) provided that the Landlord's repair obligations shall be limited to the extent of the insurance proceeds actually received by it;

 

		(ii)	in the event that

  

		(A)	premises, whether of the Tenant or other tenants of the Development, comprising in the aggregate twenty-five percent (25%) or more of the Rentable Area of the Development are substantially damaged or destroyed by any
cause; or

  

		(B)	the Leased Premises are damaged or destroyed by any cause such that, in the reasonable opinion of the Landlord or the Tenant, as the case may be, such damage cannot with reasonable diligence be repaired within one
hundred and eighty (180) days after the occurrence thereof; or

  

		(C)	portions of the Development which affect access or services essential to the Leased Premises are damaged or destroyed by any cause such that, in the reasonable opinion of the Landlord or the Tenant, as the case may
be, such damage cannot with reasonable diligence be repaired within one hundred and eighty (180) days after the occurrence thereof, then the Landlord or the Tenant may at its option, exercisable by notice to the other party given within ninety (90)
days of the occurrence of such damage or destruction, terminate this Lease, in which event the Tenant shall forthwith deliver up possession of the Leased Premises to the Landlord and Rent shall be apportioned and paid to the date upon which
possession is so delivered up (but subject to any abatement to which the Tenant may be entitled under Section 9.05(i);

  

		(iii)	any certificate of the Architect shall be conclusive as to the percentage of the Leased Premises or of the Development destroyed or damaged or capable of use and occupancy by the Tenant, the state of completion of any
work or repair of either the Landlord or Tenant and the computation of the area of any premises including the Leased Premises; and

  

		(iv)	in repairing or rebuilding the Development in accordance with its repair obligations the Landlord may use drawings, designs, plans and specifications other than those used in the original construction and may alter or
relocate any or all of the Common Areas and other improvements, including the Leased Premises, provided that the Leased Premises as altered or relocated shall be of substantially the same size and in all material respects comparable to or better
than the original Leased Premises.

  
 ARTICLE
10
 TAXES
  

Section 10.01 - Taxes Payable by the Landlord
  

The Landlord shall pay all Taxes, subject to Section 10.02, provided that it may defer such payments or compliance with any taxing statute, law,
by-law, regulation or ordinance to the fullest extent permitted by law, so long as it diligently pursues any contest or appeal of any such Taxes.
  

Section 10.02 - Taxes Payable by the Tenant
  

		(i)	If separate real property tax bills and separate real property assessment notices for the Leased Premises are not issued, the Tenant shall pay its Proportionate Share of Taxes as determined by the Landlord as set out
herein.

  

		(ii)	If separate real property tax bills and separate real property assessment notices for the Leased Premises are issued, the Tenant shall:

 

		(A)	pay promptly when due to the taxing authorities all Taxes levied, rated, charged or assessed from time to time against the Leased Premises, or any part thereof, and forthwith provide the Landlord with evidence of
payment upon request; and

  

		(B)	provide the Landlord with a copy of each separate real property tax bill and separate assessment notice within ten (10) days after receipt;

 
 provided that in any case, if the Landlord so elects
by notice to the Tenant the Tenant shall pay such Taxes to the Landlord in equal monthly instalments in advance, in accordance with Section 4.04.

 

 
	 	
 

  

  
 Section 10.03 - Business Taxes and Other Taxes
of the Tenant
  
 The Tenant shall pay promptly
when due to the taxing authorities all taxes, rates, duties, levies and assessments whatsoever, whether municipal, parliamentary or otherwise, levied, imposed or assessed in respect of operations at, occupancy of, or conduct of business in or from
the Leased Premises by the Tenant or any other permitted occupant, including Business Taxes. The Tenant shall also pay to the Landlord promptly on demand an amount equal to any of the following taxes the Landlord may determine to recover from the
Tenant, and any amounts so paid by the Tenant to the Landlord (and by other tenants under corresponding clauses of other leases) shall be excluded in the determination of Taxes:

 

		(i)	all taxes charged in respect of all leasehold improvements and trade fixtures and all furniture and equipment made, owned or installed by or on behalf of the Tenant in the Leased Premises; and

 

		(ii)	if by reason of the act, election or religion of the Tenant or any subtenant, licensee or occupant of the Leased Premises, the Leased Premises or any part of them shall be assessed for the support of separate schools,
the amount by which the taxes so payable exceed those which would have been payable if the Leased Premises had been assessed for the support of public schools.

 
 If and so long as the Landlord elects not to
separately determine and collect from the tenants of the Development directly amounts which would otherwise be payable by the Tenant under this section (and by other tenants under comparable provisions of other leases of premises in the Development)
the taxes described herein shall form part of Taxes, without prejudice to the right of the Landlord to make any such determination in the future, either generally or in the case of the Tenant or any other tenant.

 
 Section 10.04 - Postponement

 
 The Landlord may postpone payment of any Taxes
payable by it pursuant to Section 10.01 and the Tenant may postpone payment of any taxes, rates, duties, levies and assessments payable by it under Section 10.03 in each case to the extent permitted by law if it is proceeding in good faith with an
appeal against the imposition thereof, provided that in the case of a postponement by the Tenant such postponement does not render the Development, or any part thereof, subject to sale or forfeiture or render the Landlord liable to prosecution, fine
or other liability.
  
 Section 10.05 - Tenant to Deliver
Receipts
  
 Whenever requested by the Landlord,
the Tenant shall deliver to the Landlord copies of receipts for payment of all taxes, rates, duties, levies and assessments payable by the Tenant under this Article and furnish such other information in connection therewith as the Landlord may
reasonably require.
  
 Section 10.06 - Assessment Appeals

 
 The Landlord alone shall be entitled to conduct any
appeal from any governmental assessment or determination of the value of the Development or any portion thereof whether or not the assessment or determination affects the amount of tax to be paid by the Tenant.

 
 ARTICLE 11

ASSIGNMENT AND SUBLETTING
  

Section 11.01 - Permitted Occupants
  

The Tenant shall not permit any part of the Leased Premises to be used or occupied by any person other than the Tenant and its employees and any
subtenant or assignee permitted under Section 11.02 and the employees of such subtenant or assignee, nor shall it permit any persons to be upon the Leased Premises other than the Tenant, such permitted subtenant or assignee and their respective
employees, customers and others having lawful business with them. Without restricting the generality of the foregoing, the Tenant acknowledges that the entirety of this Article 11 shall apply fully, even if the Tenants permitted use or business to
be carried on in the Leased Premises is the business of subletting or licensing of office space and facilities.
  

Section 11.02 - Assignment or Subletting
  

If at any time or from time to time, the Tenant wishes to assign this Lease or to sublet the whole or any part of the
Leased Premises to any person other than a subsidiary or affiliate of the Tenant, the Tenant in each instance shall first offer to surrender this Lease in respect of the whole or any part of the Leased Premises (the “Subject Area”) which
the Tenant wishes so to assign or sublet. Notice of such offer to surrender shall be given to the Landlord not less than ninety (90) days prior to the date on which the Tenant proposes that the surrender be effective. The Landlord shall have a
period of ten (10) Business Days after such notice is given to accept or to decline such offer (the “Landlord’s Consideration Period”). If the Landlord accepts, then this Lease shall terminate with respect to the Subject Area on
the date proposed in such offer. If the Landlord declines such offer or does not respond within the aforesaid time period, the Tenant may seek the Landlord’s consent to assign this Lease or sublet the Subject Area provided that the Tenant
shall have:
  

		(i)	received or procured a bona fide written offer (the “Offer”) to take an assignment or sublease of the Subject Area which is not inconsistent with, and the acceptance of which would not breach, any
provision of this Lease (if this Section 11.02 is complied with) and which the Tenant has determined to accept subject to this Section 11.02 being complied with;

		(ii)	delivered to the Landlord an executed copy of the Offer no later than ninety (90) days after expiry of the Landlord’s Consideration Period; and

		(iii)	requested and obtained the written consent of the Landlord to such assignment or sublease.

If the Tenant fails to satisfy any of the conditions set out in this Section 11.02 or if the Landlord does not consent to any such
assignment of this Lease or sublease of the Subject Area, the Tenant shall be required to comply with the obligations of the Tenant set out in this Section 11.02 in each instance when, from time to time, the Tenant wishes to assign this Lease
or sublet the whole or part of the Leased Premises.
  

Notwithstanding any other part of this Section 11.02, the Tenant shall not be required to obtain the Landlord’s consent to any
assignment or sublease of the Leased Premises to a subsidiary or affiliate of the Tenant provided that the Tenant remains bound by the terms of this Lease. Should the Tenant wish to assign this Lease to a subsidiary or affiliate of the Tenant, and
should the Tenant wish to no longer be bound by the terms of this Lease, the Tenant must first obtain the Landlord’s consent, which consent the Landlord may not unreasonably withhold, delay or condition. In no event shall the assignment or
subleasing or an attempted assignment or sublease by the Tenant to a subsidiary or affiliate of the Tenant entitle the Landlord to terminate this Lease or any part of the Leased Premises.

 
 Any request for the Landlord's consent shall be accompanied by a true
copy of such offer and all information available to the Tenant, or any additional information requested by the Landlord, as to the responsibility, reputation, financial standing and business of the proposed assignee or subtenant. The consent of the
Landlord shall not be unreasonably withheld provided that, without limitation, the Landlord shall not be deemed to be unreasonably withholding its consent if it refuses such consent upon the basis that

 

		(A)	such offer provides for a rental which is less than the rental payable under this Lease, or

 

 
	 	
 

  

  

		(B)	such offer is made by, or the proposed assignment is in favour of, any existing tenant of the Development.

 
 If such consent is given the Tenant shall assign or sublet, as the case
may be, only upon the terms set out in the offer submitted to the Landlord. The Landlord may require as a condition of its consent that the proposed assignee or subtenant agree with the Landlord to observe and to perform all the obligations of the
Tenant under this Lease and the Tenant agrees with the Landlord that:
  

		(iv)	in the case of an assignment, if the Tenant is to receive from any assignee, either directly or indirectly, any consideration or premium for the assignment of the Lease, either in the form of cash, goods or services,
the Tenant shall forthwith pay an amount equal to such consideration to the Landlord; and

  

		(v)	if the Tenant sublets the Subject Area and receives a rental, consideration or premium in the form of cash, goods, services or other consideration from the subtenant which is higher than the rental payable under this
Lease (on a per square foot basis) to the Landlord for the Subject Area, the Tenant shall pay any such excess to the Landlord in addition all rentals and other costs payable hereunder.

 

In the case of any sublease, any consent of the Landlord will also be conditional upon
the sub-tenant agreeing in writing with the Landlord that if the sub-tenant for any reason comes to stand in the same position with the Landlord as though it were a direct tenant from Landlord, then the sub-tenant shall pay to the Landlord all
amounts that were outstanding and owing to the Landlord under the terms of the head Lease immediately prior to the assignment or disclaimer and the sub-tenant shall pay to the Landlord as rent for the sub-leased premises rent at the rate and in the
amounts which had been payable by the Tenant to the Landlord under the terms of the head Lease and shall agree in writing to be bound to the Landlord by all of the obligations of the Tenant under the head Lease, the term of the sub-tenant's demise
shall end on the last day of the term of the sub-lease , and the sub-tenant shall not have the benefit of any renewal or extension or other ancillary rights or benefits contained in the head Lease. The foregoing obligation shall apply
notwithstanding that the premises demised to the sub-tenant are smaller than the premises demised under the head Lease.
  

Whether or not the Landlord consents to any request as aforesaid, the Tenant shall pay
to the Landlord all reasonable costs incurred by the Landlord, including legal fees, in considering any consent and in completing any of the documentation involved in implementing any such assignment or sublease. Any advertisement of the Leased
Premises or a portion thereof as being available for assignment, sublease or otherwise without the written approval of the Landlord to the form and content of such advertisement is prohibited, which approval shall be granted by the Landlord in its
sole discretion.
  
 Section 11.03 - Change in Control

 
 If after the date of execution of this Lease: (i)
the Tenant or any permitted assignee is not a “public company” as that term is defined in the Business Corporations Act (British Columbia): and (ii) there is a change in control (as defined below) either of the Tenant or of an
Eligible Corporation which controls the Tenant or if other steps are taken to accomplish a change of control the Tenant shall promptly notify the Landlord of the change, which will be considered to be an assignment of this Lease to which Section
11.02 applies; if the Tenant does not notify the Landlord, the Landlord may terminate this Lease within sixty (60) days after the Landlord learns of the change in control. If the Tenant or any permitted assignee is not a “public company”
as that term is defined in the Business Corporations Act (British Columbia),  he Tenant shall make available to the Landlord or its lawful representatives for inspection at all reasonable times, all relevant books and records of the Tenant
and of any Eligible Corporation which controls the Tenant to enable the Landlord to ascertain whether there has been a change of control. For the purpose of this Section 11.03 "change in control" means, in the case of any corporation or
partnership, the transfer by sale, assignment, amalgamation, transmission on death, trust, operation of law or otherwise of any shares, voting rights or interest which may result in a change of identity of the person or persons exercising, or who
might exercise, effective control of such corporation or partnership.
  

Section 11.04 - Surrender
  

If the Landlord accepts the Tenant's offer to surrender the whole or any part of the Leased Premises pursuant to Section 11.02, the Tenant shall
do so upon the date specified in the notice of offer to surrender accepted by the Landlord. If the whole of the Leased Premises is required to be surrendered all Rent and other sums payable under this Lease shall be apportioned and paid to the date
of surrender. If a part of the Leased Premises is required to be surrendered, all Rent and other sums payable under this Lease which are fairly attributable to such part shall be apportioned by the Landlord and paid to the date of surrender of such
part, and Basic Rent for the remaining portion of the Leased Premises not so surrendered shall thereafter abate and become adjusted consistent with such attribution made by the Landlord, and the Tenant shall compensate the Landlord for the cost of
partitioning off the part of the Leased Premises required to be surrendered and providing necessary and appropriate new entrances thereto, separate services thereto and doing all other work required to enable the part so surrendered to become
functionally separate and suitable for separate use and occupancy plus an Administrative Charge. The Tenant shall be responsible for any appropriate modifications which are necessary in the remaining portion of the Leased Premises retained by the
Tenant. The provisions of this Section 11.04 shall apply to the surrendered part of the Leased Premises as if such part were the whole of the Leased Premises.

 
 Section 11.05 - Continuing Obligations

 
 The Landlord's consent to any assignment or sublease
shall not release the Tenant from its obligations to perform fully all the terms, covenants and conditions of this Lease on its part to be performed. Any consent by the Landlord to any assignment or sublease shall not be construed to mean that the
Landlord has consented or will consent to any further assignment or any other sublease.
  

Section 11.06 - Assignment by Landlord
  

If 815 WEST HASTINGS LTD. transfers the Development or any interest in the Development, and to the extent that the transferee is
responsible for compliance with the covenants and obligations of 815 WEST HASTINGS LTD. hereunder, 815 WEST HASTINGS LTD. shall without further written agreement be freed and relieved of liability with respect to such covenants and
obligations.
  
 ARTICLE 12

STATUS CERTIFICATES, ATTORNMENT, SUBORDINATION
  

Section 12.01 - Status Certificates
  

The Tenant shall at any time and from time to time execute and deliver to the Landlord or as the Landlord may direct, a statement in writing
certifying that this Lease is unmodified and in full force and effect (or if modified, stating the modification and stating that the same is in full force and effect as modified), the amount of the Rent and any other amounts then being paid
hereunder, the dates to which such Rent and amounts payable hereunder have been paid, the particulars and amounts of insurance policies on the Leased Premises in which the interest of the Tenant is noted and whether or not there is any existing
default on the part of the Landlord of which the Tenant has notice. Any such statement may be conclusively relied upon by any prospective purchaser or any Mortgagee or any prospective Mortgagee save as to any default on the part of the Landlord of
which the Tenant does not have knowledge at the date thereof.
  

 
	 	
 

  

  
 Section 12.02 - Subordination and
Attornment
  
 This Lease and the rights of the
Tenant hereunder shall be subject and subordinate to all existing or future Mortgages and to all renewals, modifications, consolidations, replacements and extensions thereof, and whenever requested by the Landlord or Mortgagee, the Tenant shall
enter into an agreement with the Mortgagee whereby the Tenant postpones or subordinates this Lease to the interest of any stipulated Mortgagee, and agrees that if such Mortgagee becomes a mortgagee in possession or realizes on its security, it shall
attorn to such Mortgagee as a tenant upon all the terms of this Lease.
  

Section 12.03 - Attorney
  

The Tenant shall, upon request of the Landlord or the Mortgagee or any other person having an interest in the Development, execute and deliver
promptly such instruments and certificates to carry out the intent of this Article 12 as are requested by the Landlord. If ten (10) days after the date of a request by the Landlord to execute any such instruments or certificates the Tenant has not
executed the same, the Tenant hereby irrevocably appoints the Landlord as the Tenant's attorney with full power and authority to execute and deliver in the name of the Tenant any such instruments or certificates or, the Landlord may, at its option,
terminate this Lease without incurring any liability on account thereof, and the Term hereby granted is expressly limited accordingly.
  

ARTICLE 13
 LIMITATION OF LIABILITIES

 
 Section 13.01 - Unavoidable Delay

 
 Except as otherwise expressly provided in this
Lease, if and to the extent that either the Landlord or the Tenant shall be prevented, delayed or restricted in the fulfilment of any obligation hereunder (including, without limitation, any obligation in respect of the supply or provision of any
service or utility, the making of any repair or the doing of any work) other than the payment of Rent or other monies due by reason of Unavoidable Delay, it shall be deemed not to be in default in the performance of such obligation and any period
for the performance of such obligation shall be extended accordingly and the other Party to this Lease shall not be entitled to compensation for any inconvenience, nuisance or discomfort thereby occasioned.

 
 Section 13.02 - Waiver

 
 If the Landlord shall overlook, excuse, condone or
suffer any default, breach or non-observance by the Tenant of any obligation hereunder, this shall not operate as a waiver of such obligation in respect of any continuing or subsequent default, breach, or non-observance, and no such waiver shall be
effective unless expressed in writing. The acceptance of Rent by the Landlord from the Tenant or any other entity will not be considered to be a waiver of a breach by the Tenant of a term, covenant or condition of this Lease, regardless of knowledge
of the Landlord of the breach at the time of acceptance of the Rent.
  

Section 13.03 - No Claim for Inconvenience
  

No claim for compensation shall be made by the Tenant by reason of inconvenience, nuisance or discomfort arising from the necessity of repair,
renovation or rebuilding of any portion of the Development.
  

Section 13.04 - Indemnity by Tenant
  

Subject to Section 9.04, the Tenant shall indemnify and save harmless the Landlord against any and all claims, actions, damages, losses,
liabilities and expenses in connection with the loss of life, personal injury or damage to property arising from or out of the occupancy or use by the Tenant of the Leased Premises or any other part of the Development, or occasioned wholly or in
part by any act or omission of the Tenant, its officers, employees, agents, customers, contractors or other invitees, licensees or concessionaires or by anyone permitted by the Tenant to be on the Leased Premises, or due to or arising out of any
breach or non-performance by the Tenant of any provision of this Lease.
  

Section 13.05- Acceptance of Leased Premises
  

The Tenant shall notify the Landlord of any defects in the Landlord's work relating to the Leased Premises that prevent or diminish its use of the
Leased Premises within thirty (30) days after the completion of such work, and failing the giving of notice the Tenant will be considered for all purposes to have accepted the Leased Premises in their then existing condition and the Landlord will
not have any further obligation to the Tenant for defects or faults excepting:
  

		(i)	latent defects which could not be discovered on a reasonable examination, and

  

		(ii)	defects or faults in structural elements relating to the Leased Premises not caused by acts or omissions of the Tenant.

 
 ARTICLE 14

ACCESS
  

Section 14.01 - Entry by Landlord
  

The Landlord and its authorized agents, employees and contractors shall be permitted, at any time and from time to time, to enter the Leased
Premises to inspect, provide janitor services and maintenance, make repairs, alterations or improvements to the Leased Premises or the Development or to have access to utilities and services, and the Tenant shall not be entitled to compensation for
any inconvenience, nuisance or discomfort caused thereby; in exercising its rights hereunder the Landlord shall use reasonable efforts to minimize interference with the use and enjoyment of the Leased Premises by the Tenant.

 
 Section 14.02 - Exhibiting Leased Premises

 
 The Tenant will permit the Landlord or the agents of
the Landlord to exhibit the Leased Premises at all reasonable hours during the last six (6) months of the Term to prospective tenants and all other persons having written authority from the Landlord or the agents of the Landlord to view the Leased
Premises. The Landlord shall further have the right to enter upon the Leased Premises at all reasonable hours during the Term for the purpose of exhibiting the Development to any prospective purchaser or mortgagee.

 
 ARTICLE 15

ALTERATIONS AND ADDITIONS
  

Section 15.01 - Landlord's Alterations, etc.
  

The Landlord, at any time after the day that is two years after this Lease commenced, and from time to time and without compensation to the
Tenant, may make;
  

 
	 	
 

  

  

		(i)	alterations or additions to, or change the location of, any part or parts, of any areas and any buildings, structures, facilities and other improvements from time to time on the Lands, other than the Leased Premises,
and

  
  

		(ii)	alterations or additions to, or change the location of, the Leased Premises or any facilities in the Leased Premises; if

 

		(A)	the Rentable Area of the Leased Premises is not substantially reduced or substantially increased; and

  

		(B)	the Landlord makes the alterations or additions to the Leased Premises or change of location of the Leased Premises at its expense, completes the finishing or fixturing of Leased Premises to the standard existing
before the alterations, additions or change of location and pays the Tenant's costs of moving and other reasonable direct costs incurred by the Tenant.

  

Without limiting the foregoing, the Landlord shall have the right, at any time after the day that is two years after this Lease commenced, upon
giving the Tenant written notice at least 30 days in advance, to provide the Tenant with other space (“Other Space”) in the Development (whether or not any part of the Leased Premises forms part thereof) of approximately the same size as
the Leased Premises (but not more than 3% smaller than the size of the Leased Premises originally demised to the Tenant hereunder) improved to a standard and using materials of approximately the same quality as the improvements which exist in the
Leased Premises at the time of relocation and the Tenant agrees to move to the Other Space. The Landlord shall arrange for and pay the costs associated with moving the Tenant to the Other Space, and effective at the date the business of the Tenant
in the Leased Premises is required by the Landlord to close to facilitate the move (the “Closing Date”) the Tenant will surrender the Leased Premises and this Lease will be deemed to be amended by the substitution for the current
Schedule A of a plan prepared by the Landlord which shows the Other Space cross-hatched and, if the Rentable Area of the Other Space is different than the Rentable Area of the now current Leased Premises, by the substitution in this Lease for the
revised Rentable Area for the Other Space where necessary, and by the calculation of amounts of Rent calculated using the Rentable Area of the Other Space (provided that the Tenant shall not be required to pay rent for more than 103% of the number
of square feet originally demised to the Tenant hereunder); and the parties agree to execute an agreement prepared by the Landlord which formally provides for such amendments to this Lease and all references in this Lease to the Leased Premises
shall thenceforth be deemed to refer to the Other Space and this Lease, amended as aforesaid, will continue in full force and effect as a lease of the new space, for the balance of the Term. Notwithstanding the foregoing, in no event shall the Other
Space have windows facing any road or alleyway save and except for Hastings Street and/or Howe Street and the Other Space shall have a comparable floor plan to the Leased Premises.

 
 Section 15.02 - Tenant's Alterations

 

		(i)	The Tenant shall not make, erect, or install any partitions (including moveable partitions), leasehold improvements, alterations or fixtures (including trade fixtures) in or about the Leased Premises without the prior
written consent of the Landlord. All such work shall be performed in accordance with any reasonable conditions, regulations or design criteria set out by the Landlord and shall be completed in a good and workman like manner, in accordance with the
description of the work approved by the Landlord, all applicable laws and the requirements of all governmental authorities. The Tenant shall, at the time of its application for such consent, furnish the Landlord with such plans, specifications and
designs in such detail as the Landlord may require. The Landlord shall have the right to supervise any work done and to select or approve (at its option) the contractors and workmen to be employed by the Tenant. Any workmen performing the work shall
have labour union affiliations compatible with others employed by the Landlord and its contractors. If the work proposed by the Tenant may affect the structure of the Leased Premises or any part of the Development or any of the electrical,
mechanical or base building systems of the Development, the Landlord may elect that it be performed either by the Landlord or its contractors, in which case the Tenant shall pay to the Landlord as Additional Rent the costs of the Landlord relating
to such work, including any consultants' fees plus an Administrative Charge. If the Tenant performs any work without complying with the provisions of this Section and does not remove it upon notice, the Landlord shall have the right to do so and to
restore the Leased Premises to their previous condition, in which case the Tenant shall pay to the Landlord as Additional Rent the costs of such work and a supervisory fee which is reasonable in all circumstances plus an Administrative Charge. All
partitions, leasehold improvements, alterations or fixtures made, erected or installed in the Leased Premises, whether made pursuant to this Section 15.02 or otherwise, shall become the property of the Landlord upon installation or affixation
subject to the rights and obligations of the Tenant respecting removal thereof as provided in this Section.

  

		(ii)	The Landlord may, by notice to the Tenant, require the removal prior to the end of the Term (on a floor-by-floor basis), at the expense of the Tenant, of all partitions, leasehold improvements, alterations or fixtures
and the restoration of the Leased Premises to the same condition that they were in prior to their making, erection or installation, such work to be done by or at the direction of the Landlord, as aforesaid.

 

		(iii)	Subject to Subsection 15.02 (ii), upon the expiration or other termination of this Lease, all partitions, leasehold improvements, alterations or fixtures made, erected or installed by the Tenant (or a predecessor of
the Tenant) upon the Leased Premises (including carpeting and light fixtures) shall remain upon and be surrendered with the Leased Premises as a part thereof and any trade fixtures not removed by the Tenant shall be and become the property of the
Landlord, absolutely provided that if the Tenant has paid the Rent and performed the covenants and conditions herein contained, it shall, at the end of the Term, have the right to remove its trade fixtures but shall make good the damage caused to
the Leased Premises by their installation or removal; if the Tenant fails to do so the Landlord shall have the right to perform such work, in which case the Tenant shall pay the Landlord as Additional Rent the costs of such work plus an
Administrative Charge.

  

		(iv)	No trade fixtures, furniture or equipment shall be removed by the Tenant from the Leased Premises during Term except that the Tenant may remove its furniture and equipment in the usual and normal course of its
business, if excess for its purposes, or if it is substituting new furniture and equipment.

  

Section 15.03 - Liens
  

The Tenant shall comply with all the provisions of the Builders Lien Act and other statutes from time to time applicable to any work done
or improvements made to the Leased Premises by or on behalf of the Tenant (including any provisions requiring or enabling holdbacks) and shall take all steps necessary to ensure that no lien shall attach to the Leased Premises or any part of the
Development. If any lien arises the Tenant shall immediately cause it to be discharged and any registration thereof vacated, and if such lien shall not have been discharged and the registration thereof vacated within a period of two (2) days after
the Landlord gives the Tenant notice requiring it to do so, the Landlord shall be entitled to make such payment or take such action as may be necessary or expedient to discharge such lien and the registration thereof. The Tenant shall, forthwith on
demand and as Additional Rent, indemnify and reimburse the Landlord for any payment, cost or expense (including legal fees) incurred by the Landlord in taking any action permitted under this Section.

 
 ARTICLE 16

REMEDIES OF LANDLORD ON TENANT'S DEFAULT
  

Section 16.01 - Remedying by Landlord, Non-Payment and Interest

 
 In addition to all rights and remedies available to
the Landlord by any provision of this Lease or any applicable law, in the event of any default by the Tenant, the Landlord shall have the right at all times to remedy or attempt to remedy any default of the Tenant, and in so doing may make any
payments due or alleged to be due by the Tenant to third parties and may enter upon the Leased Premises to do work or other things therein on not less than five (5) Business Days' notice to the Tenant or without notice in the event of an emergency;
all expenses of the Landlord in remedying or attempting to remedy such default shall be payable by the Tenant to the Landlord as Additional Rent forthwith upon demand.

 

 
	 	
 

  

  
 Section 16.02 - Right to Re-Enter

 
 If and whenever:

 

		(i)	the Tenant fails to pay any Rent or other sums due hereunder on the day or dates appointed for the payment thereof (provided the Landlord first gives five (5) days' written notice to the Tenant of any such failure);
or

  

		(ii)	the Tenant fails to observe or perform any other of the terms, covenants or conditions of this Lease to be observed or performed by the Tenant (other than the terms, covenants or conditions set out below in
Sub-paragraphs (iii) to (xii) inclusive, for which no notice shall be required) provided the Landlord first gives the Tenant ten (10) days, or such shorter period of time as is otherwise provided herein, written notice of any such failure to
perform, and the Tenant within such period of ten (10) days fails to commence diligently and thereafter to proceed diligently to cure any such failure to perform; or

 

		(iii)	the Tenant or any agent of the Tenant falsifies any report required to be furnished to the Landlord pursuant to this Lease; or

 

		(iv)	the Tenant or any indemnifier of this Lease or any person occupying the Leased Premises or any part thereof becomes bankrupt or insolvent or takes benefit of any act now or hereinafter in force for bankrupt or
insolvent debtors or files any proposal or makes any assignment for the benefit of creditors or any arrangement or compromise; or

  

		(v)	a receiver or a receiver and manager is appointed for all or a portion of the Tenant's property or any such indemnifier's, or occupant's property; or

 

		(vi)	any steps are taken or any action or proceedings are instituted by the Tenant or by any other party including, without limitation, any court or governmental body of competent jurisdiction for the dissolution,
winding-up or liquidation of the Tenant or its assets; or

  

		(vii)	the Tenant makes a sale in bulk of any of its assets, wherever situated (other than a bulk sale made to an assignee or sublessee pursuant to a permitted assignment or subletting hereunder); or

 

		(viii)	the Tenant abandons or attempts to abandon the Leased Premises, or sells or disposes of the goods and chattels of the Tenant or removes them from the Leased Premises so that there would not in the event of such sale
or disposal be sufficient goods of the Tenant on the Leased Premises subject to distress to satisfy all Rent due or accruing hereunder for a period of at least twelve (12) months; or

 

		(ix)	the Leased Premises become and remain vacant for a period of five (5) consecutive days or are used by any persons other than such as are entitled to use them hereunder; or

 

		(x)	the Tenant assigns, transfers, encumbers, sublets or permits the occupation or use or the parting with or sharing possession of all or any part of the Leased Premises by anyone except in a manner permitted by this
Lease; or

  

		(xi)	this Lease or any of the Tenant's assets are taken under any writ of execution; or

  

		(xii)	re-entry is permitted under any other terms of this Lease,

  

then and in every such case the Landlord, in addition to any other rights or remedies it has pursuant to this Lease or by law, has the immediate right of
re-entry upon the Leased Premises and it may repossess the Leased Premises and enjoy them as of its former estate, and it may expel all persons and remove all property from the Leased Premises, and such property may be removed and sold or disposed
of by the Landlord as it deems advisable or may be stored in a public warehouse or elsewhere at the cost and for the account of the Tenant, all without service of notice or resort to legal process and without the Landlord being considered guilty of
trespass or becoming liable for any loss or damage which may be occasioned thereby.
  

Section 16.03 - Bankruptcy of Tenant
  

If the Term or a substantial portion of the goods and chattels of the Tenant on the Leased Premises at any time during the Term are seized or
taken in execution or attachment by a creditor of the Tenant, or if the Tenant makes an assignment for the benefit of creditors or if a receiver-manager is appointed to control the conduct of the business on or from the Leased Premises, or if the
Tenant becomes bankrupt or insolvent or takes the benefit of a statute now or hereafter in force for bankrupt or insolvent debtors, or if an order is made for the winding-up of the Tenant, or if the Leased Premises, without the written consent of
the Landlord, become and remain vacant or abandoned for a period of fifteen (15) days or are used by any other persons than those entitled to use them under the terms of this Lease, the next ensuing three (3) months' Rent immediately will become due
and payable as accelerated rent and the Landlord may re-enter and take possession of the Leased Premises as provided herein, and this Lease, at the option of the Landlord exercisable by written notice to the Tenant, forthwith will become forfeited
and determined. In every one of the cases above mentioned the accelerated rent will be recoverable by the Landlord in the same manner as the Rent hereby reserved and as if Rent were in arrears.

 
  

The Tenant acknowledges and agrees that under no circumstances will it file any notice of termination seeking to take advantage of the
Bankruptcy and Insolvency Act (Canada) as amended from time to time or other laws for the benefit of insolvent debtors and now waives any and all rights to do so. The Tenant agrees that if, in breach of this paragraph, it files such a notice,
the Landlord may, in addition to all its other remedies, produce and rely on this paragraph in challenging the validity of the notice in the court proceedings contemplated by Section 65.2 of the Bankruptcy and Insolvency Act or such laws and
the Landlord may in those or any other proceedings apply for injunctive or other relief against the Tenant filing the notice.
  

Section 16.04 - Right to Terminate
  

If and whenever the Landlord becomes entitled to re-enter the Leased Premises under any provision of this Lease, the Landlord, in addition to all
other rights and remedies, shall have the right to terminate this Lease forthwith by leaving upon the Leased Premises notice in writing of such termination. If such notice is given, pursuant to this or any other provision of this Lease, this Lease
and the Term shall terminate. Basic Rent and any other payments for which the Tenant is liable under this Lease shall be computed, apportioned and paid in full to the date of such termination, and the Tenant shall immediately deliver up possession
of the Leased Premises to the Landlord.
  
 Section 16.05 - Right to
Re-Let
  
 If the Landlord re-enters
pursuant to the provisions of either this Lease or any applicable law, it may either terminate this Lease or it may from time to time without terminating the Tenant's obligations under this Lease, make any alterations and repairs considered by the
Landlord necessary to facilitate a re-letting, and re-let the Leased Premises or any part thereof as agent of the Tenant for such term or terms and at such rental or rentals and upon such other terms and conditions as the Landlord, in its reasonable
discretion, considers advisable. Upon each re-letting, all Rent and other monies received by the Landlord from the re-letting will be applied:
  

 
	 	
 

  

  

		(i)	to the payment of indebtedness other than Rent due hereunder from the Tenant to the Landlord;

  

		(ii)	to the payment of costs and expenses of the re-letting including brokerage fees and legal fees and costs of the alterations and repairs; and

 

		(iii)	to the payment of Rent due and unpaid hereunder.

  

The residue, if any, will be held by the Landlord and applied in payment of future Rent as it becomes due and payable. If the rent received from the re-letting during
a month is less than the Rent to be paid during that month by the Tenant, the Tenant shall pay the deficiency to the Landlord. The deficiency will be calculated and paid monthly. No re-entry by the Landlord will be construed as an election on its
part to terminate this Lease unless a written notice of that intention is given to the Tenant. Despite a re-letting without termination, the Landlord may elect at any time to terminate this Lease for a previous breach. If the Landlord terminates
this Lease for any breach, in addition to other remedies it may have, it may recover from the Tenant all damages it incurs by reason of the breach, including the cost of recovering the Leased Premises, reasonable legal fees and the worth at the time
of termination of the excess, if any, of the amount of Rent and charges equivalent to rent reserved in this Lease for the remainder of the Term, over the then reasonable rental value of the Leased Premises for the remainder of the Term, all of which
amounts shall be immediately due and payable by the Tenant to the Landlord.
  

Section 16.06 - Remedies Cumulative
  

The Landlord may from time to time resort to any or all of the rights and remedies available to it in the event of any default hereunder by the
Tenant, either by any provision of this Lease or by statute or the general law, all of which rights and remedies are intended to be cumulative and not alternative, and the express provisions hereunder as to certain rights and remedies are not to be
interpreted as excluding any other or additional rights and remedies available to the Landlord by statute or the general law.
  

Section 16.07 - Waiver of Exemption from Distress
  

The Tenant hereby agrees with the Landlord that notwithstanding anything contained in the Rent Distress Act (British Columbia) or the
Commercial Tenancy Act (British Columbia) or any other Statute subsequently passed to take the place of or amend these said Acts, none of the goods and chattels of the Tenant at any time during the continuance of the Term hereby created on
the Leased Premises shall be exempt from levy by distress for Rent in arrears by the Landlord as provided for by any Section or Sections of the said Acts or any amendments thereto, and that if any claim is made for such exemption by the Tenant or if
a distress is made by the Landlord, this covenant and agreement may be pleaded as an estoppel against the Tenant in any action brought to test the right to the levying upon any such goods as are named as exempted in any Sections of the said Acts or
any amendments thereto; the Tenant waiving, as it hereby does, all and every benefit that could or might have accrued to the Tenant under and by virtue of any Sections of the said Acts, or any amendments thereto but for this covenant.

 
 Section 16.08 - Removal of Chattels

 
 In case of removal by the Tenant of the goods and
chattels of the Tenant from the Leased Premises, the Landlord may follow same for thirty (30) days in the same manner as provided for in the Commercial Tenancy Act (British Columbia).

 
 ARTICLE 17

ENVIRONMENTAL MATTERS
  

Section 17.01 - Restriction on Contaminants
  

The Tenant shall not use or permit to be used the Leased Premises or Development or any part thereof for Contaminant Dealings except if approved by
the Landlord in writing, at its sole discretion (which approval may be withdrawn at any time notwithstanding any provision of this Lease), and whenever such approval is given, the Tenant shall attend to such Contaminant Dealings in accordance with
the written directions of and conditions imposed by the Landlord.
  

Section 17.02 - Compliance with Environmental Laws
  

The Tenant shall promptly and strictly comply with and conform to the requirements of all Environmental Laws at any time or from time to time in
force, together with any requirements of the Landlord's insurers, regarding any Contaminant Dealings on, in, under or from the Leased Premises or Development.

 
 Section 17.03 - Access by Landlord

 
 The Tenant shall permit the Landlord to enter the
Leased Premises at all reasonable times to verify the absence of any Contaminants in, on or under the Leased Premises or Development and the Tenant's compliance with this Article to examine any goods in or at the Leased Premises, and to take such
steps as the Landlord may deem necessary for the safety and preservation of the Leased Premises or Development. No such entry shall constitute an eviction or breach of the Landlord's covenant for quiet enjoyment or entitle the Tenant to any
abatement in Rent.
  
  

Section 17.04 - Notice to Landlord
  

The Tenant shall promptly notify the Landlord in writing of:

 

		1.	the existence of any Contaminants in, on or under the Leased Premises or Development or any part thereof, except as expressly approved by the Landlord in writing pursuant to this
Article;

  

		2.	the existence of any Contaminants or any occurrence or condition on the Leased Premises or Development which could subject the Tenant or the Landlord to any fines, penalties, orders or proceedings under
Environmental Laws;

  

		3.	any enforcement, order, investigation, litigation or other governmental, regulatory, judicial or administrative action instituted, contemplated or threatened against the Tenant or the Leased Premises or
Development pursuant to Environmental Laws; and

  

		4.	all claims, actions, orders or investigations, made or threatened by any third party against the Tenant or the Leased Premises or Development relating to damage, contribution, cost
recovery, compensation, loss or injuries resulting from any Contaminants brought onto or created on the Leased Premises or Development by the Tenant or its employees, agents, contractors, subtenants, licensees or invitees or arising from the use or
occupation of the Leased Premises or Development hereunder or the exercise of the Tenant's rights hereunder, or any breach of any Environmental Laws arising from any of the foregoing.

 

 
	 	
 

  

  
 Section 17.05 - Removal of Contaminants

 
 The Tenant shall, promptly at its own cost and at the
Landlord's request from time to time, remove any and all Contaminants from the Leased Premises or Development and remediate any contamination of the Leased Premises or Development or any other lands resulting from the Contaminants brought onto or
created on the Leased Premises or Development by the Tenant or its employees, agents, contractors, subtenants, licensees or invitees or arising from the use or occupation of the Leased Premises or Development hereunder or the exercise of the
Tenant's right hereunder in accordance with Environmental Laws. On termination of this Lease, the Tenant shall leave the Leased Premises and Development free from any and all Contaminants brought onto or created on the Leased Premises or Development
by the Tenant or its employees, agents, contractors, subtenants, licensees or invitees or resulting from the use or occupation of the Leased Premises or Development hereunder or the exercise of the Tenant's rights hereunder.

 
 Section 17.06 - Ownership of Contaminants

 
 If the Tenant shall bring or create upon the Leased
Premises or Development any Contaminants then, notwithstanding any rule of law to the contrary, such Contaminants shall be and remain the sole and exclusive property of the Tenant and shall not become the property of the Landlord, notwithstanding
the degree of affixation of the Contaminants or the goods containing the Contaminants to the Leased Premises or Development and notwithstanding the expiry or earlier termination of this Lease. This Section supersedes any other provision of this
Lease to the contrary.
  
 Section 17.07 -
Indemnity
  
 The Tenant shall indemnify and save
harmless the Landlord and its directors, officers, employees, agents, successors and assigns, from any and all liabilities, actions, damages, claims, losses, costs and expenses whatsoever (including without limitation, the full amount of all legal
fees, costs, charges and expenses and the costs of removal treatment, storage and disposal of Contaminants and remediation) which may be paid by, incurred by or asserted against the Landlord or its directors, officers, employees, agents, successors
or assigns , due to the escape, seepage, leakage, spillage, discharge, emission or other release of any Contaminants from, any part of the Leased Premises during the Term or any renewal thereof, into the environment including without limitation into
or upon any real or personal property or the atmosphere.
  
 Section
17.08 - Survival of Tenant's Obligations
  
 The
obligations of the Tenant under this Article relating to Contaminants (including, without limitation, the Tenant's obligation regarding remediation and its indemnity) shall survive the expiry or earlier termination of this Lease.

 
 ARTICLE 18

MISCELLANEOUS
  

Section 18.01 - Notices
  

Any notice, statement or request herein required or permitted to be given by either Party to the other shall be in writing and shall be deemed to
have been sufficiently and effectually given if signed by or on behalf of the Party giving the notice and delivered or mailed by registered prepaid post,

 

		(i)	in the case of notice to the Landlord, to it at:

  

Suite 230
 830 West Pender Street

Vancouver, BC
 V6C 1J8

 

		(ii)	in the case of notice to the Tenant, to it at the Leased Premises.

  

Any such notice given as aforesaid shall be conclusively deemed to have been given, if delivered, on the first Business Day following the date of such delivery, or if
mailed, on the fifth Business Day following the date of such mailing. The Landlord may from time to time, by notice to the Tenant, change the address to which notices are to be given. During any interruption, threatened interruption or substantial
delay in postal services, such notice shall be delivered or sent by Facsimile addressed as aforesaid. Where a party is required to give “notice” under this Lease, such party must give such notice a reasonable amount of time in advance to
the other party, with “reasonable” being determined with consideration, inter alia, to the degree of interruption, the invasiveness and the amount of work involved to which such notice relates.

 
 Section 18.02 - Registration of Lease

 
 Neither the Tenant nor anyone on the Tenant's behalf
shall register this Lease or any other instrument pertaining to this Lease against the Lands, nor shall anyone require this Lease to be in a form registrable under the Land Title Act (British Columbia) and the Landlord is not required to
deliver this Lease in registerable form notwithstanding any statutory requirement to the contrary.
  

Section 18.03 - Acceptance
  

The Tenant hereby accepts this Lease and Leased Premises described herein to be held by it as Tenant, and subject to the conditions, restrictions
and covenants above set forth.
  
  

 
 IN WITNESS WHEREOF the Parties hereto have executed this Lease.

 
 
 
  
  

 
	 	
 

  

  
 

 
  

  
  

 
  

 

 
	 	
 

  

  
  

 

  
  

 
  

  

 
	 	
 

  

  
  

 
  

 
 

 
  

 
  

  
  

 
  

 
 

 
  

 

 
	 	
 

  

  
 SCHEDULE "C"

RULES & REGULATIONS
  

1.       The Tenant shall keep the Leased Premises tidy and free from rubbish which shall be deposited in proper receptacles
which are either designated by the Landlord or clearly intended for waste.
  

2.       No cooking or preparation of food shall be permitted in the Leased Premises other than the use of a microwave oven or
small toaster oven, and no electrical apparatus likely to cause overloading of electrical circuits shall be used therein. No tenant shall cause or permit any unusual or objectionable odors to be produced upon or emanate from the Leased Premises.

 
 3.       The Tenant shall not use
or permit the use of the Leased Premises in such manner as to create any objectionable noises, odours or other nuisance or hazard or to breach the provisions of any municipal by-law or other lawful requirement applicable thereto or any requirement
of the insurers of the Development.
  

4.       No heavy equipment or safe shall be moved by or for the Tenant except with the prior written consent of the Landlord,
which may be arbitrarily withheld. Such equipment shall be moved upon the appropriate steel-bearing plates, skids, or platforms, subject always to direction by the Landlord, and shall take place at such times and by such persons as the Landlord
shall have approved.
  

5.       The entrances, lobbies, elevators, staircases and other facilities of the Development shall be used only for access to
the Leased Premises and other parts of the Development; the Tenant shall not obstruct or misuse such facilities, or permit them to be obstructed or misused by its agents, employees, invitees or others under its control.

 
 6.       The Tenant shall not
misuse or damage the Leased Premises or any of the improvements or facilities therein, or deface or mark any walls or other parts of the Leased Premises, or drive nails, spikes, hooks or screws into the walls or woodwork of the Leased Premises or
any other part of the Development.
  

7.       No fixtures, freight or bulky matter shall be moved in or out of the Leased Premises or carried on any facilities for
the Development except during such hours and at such locations as the Landlord shall have approved. Hand trucks and similar appliances shall be equipped with rubber tires and other safeguards approved by the Landlord and shall be used only by prior
arrangement with the Landlord.
  

8.       The Tenant shall not perform, patronize or permit any canvassing, soliciting or peddling in the Development, shall not
install in the Leased Premises any machines vending or dispensing refreshments or merchandise (except with the prior written consent of the Landlord).

 
 9.       No person shall use the
Leased Premises for sleeping apartments or residential purposes, or for the storage of personal effects or articles other than those required for business purposes.

 
 10.       The Tenant shall permit
and facilitate the entry of the Landlord, or those designated by it, into the Leased Premises for the purpose of inspection, repair and other proper purposes, and shall not obstruct access to main header ducts, janitor and electrical closets and
other necessary means of access to mechanical, electrical and other facilities. The Tenant shall not place any additional locks or other security devices upon any doors of the Leased Premises without the prior written approval of the Landlord, which
may be arbitrarily withheld or granted on a conditional basis.
  

11.       The Tenant shall refer to the Development only by the name from time to time designated by the Landlord, and shall use
such name only for the business address of the Leased Premises and not for any promotional or other purposes.
  

12.       The Landlord may require that at any time other than Business Hours all or any persons entering and leaving the
Development identify themselves and register in the manner prescribed by the Landlord for the purpose, may prevent any person from entering the Leased Premises unless provided with a key thereto and a pass or other authorization from the Tenant in a
form satisfactory to the Landlord, and may prevent any person removing any goods therefrom without written authorization. The Landlord may institute a photo-identification security system in which case identification cards may be obtained from the
Landlord at the expense of the Tenant.
  

13.       The Tenant shall receive, ship and take delivery of and allow and require suppliers and others to deliver and take
delivery of supplies, fixtures, equipment and furnishings only through the appropriate service and delivery facilities provided in the Development, and subject to such further regulations as the Landlord may from time to time impose.

 
 14.       The Tenant shall not
interfere with any window coverings installed upon exterior windows, and shall close such window coverings during such hours from dusk to dawn as the Landlord may require, and shall not install or operate any interior drapes that will interfere with
the exterior appearance or the climate control system of the Development.
  

15.       If an emergency situation shall exist because of fire, explosion or other hazard, or the threat thereof, the Tenant and
its agents, servants, contractors, invitees and employees shall, if requested by the Landlord, the Fire Department or the police, vacate the Development forthwith in the manner prescribed by the Fire Department.

 
 16.       The Leased Premises
shall not be used for storage of any inflammable, explosive or dangerous materials or for any purpose which may in any way increase the risk of fire or obstruct or interfere with the rights of other occupants of the Development or violate or be at
variance with any laws or regulations of any governmental or regulatory authority.
  

17.       No musical instruments or sound producing equipment or amplifiers which may be heard outside the Leased Premises shall
be played or operated on the Leased Premises.
  

18.       The water closets and other water apparatus shall not be used for any purpose other than those for which they were
constructed, and no sweepings, rubbish, rags, ashes or other substances shall be thrown therein. The Tenant shall be responsible for any damage resulting from misuse caused by it or by its agents, servants, employees, licensees or invitees. The
Tenant shall not let the water run unless it is in actual use.
  

19.       The Tenant shall give the Landlord prompt written notice of any accident which occurs upon any part of the Development
or any defect in the Development, including the Common Areas or the facilities and systems serving the Development.
  

20.       These rules and regulations, together with all reasonable amendments, deletions and additions, are not necessarily of
uniform application, but may be waived in whole or in part in respect of other tenants of the Development without affecting their enforceability with respect to the Tenant and the Leased Premises, and may be waived in whole or in part with respect
to the Leased Premises without waiving them as to future application to the Leased Premises. The imposition of such rules and regulations shall not create or imply any obligation of the Landlord to enforce them or create any liability of the
Landlord for their non-enforcement.
  

		21.	No animals or birds shall be brought onto any part Development without the consent of the Landlord.

  

22.       No bicycles or vehicles shall be brought into or kept in or about the Development or the Leased Premises.

 
 23.       In the event that the
Tenant wishes at any time to utilize the services of a telephone or telecommunications provider whose equipment is not then servicing the Development, no such provider shall be permitted to install its lines or other equipment within the Development
without first securing the prior written approval of the Landlord. Landlord’s approval shall not be deemed any kind of warranty or representation by Landlord, including, without limitation, any warranty or representation as to the
suitability.
  

24.       Smoking is not permitted within the Development or adjacent to the Development.

 

 
	 	
 

  

  
 SCHEDULE "D"

SPECIAL PROVISIONS
  

 
 Attached hereto and forming a part of a Lease between 815 WEST
HASTINGS LTD. and INMED PHARMACEUTICALS INC., dated this 14th day of January, 2019 and to be initialled by both parties.
  

	Deposit	The Landlord acknowledges receipt of a deposit (the
“Security Deposit”) in the amount equal to six  (6) months’ Gross Rent plus GST. If the Tenant has not been in material default under under the terms of this Lease, the Landlord shall apply the Security Deposit to the
following months Gross Rent (Months 1, 13, 25,37 & 49) with the balance to be held by the Landlord as security for the faithful performance by the Tenant of all of the provisions of this Lease to be performed or observed by the Tenant. If the
Tenant fails to pay Rent or otherwise defaults with respect to any provision of this Lease, the Landlord may use, apply or retain all or any portion of the Security Deposit for the payment of any Rent in default, or for the payment of any other
expense which the Landlord may incur by reason of the Tenant’s default, or to compensate the Landlord for any loss or damage which the Landlord may suffer thereby. If the Landlord so uses or applies all or any portion of the Security Deposit,
the Tenant, shall within ten (10) days after demand therefore deposit cash with the Landlord in an amount sufficient to restore the Security Deposit to the full amount thereof with such full amount being determined by deducting any part of the
Security Deposit that have been applied towards the Gross Rent in accordance with this provision from the value of the Security Deposit paid on the signing of this Lease. The Landlord shall not be required to keep the Security Deposit separate from
its general accounts.  If the Tenant performs all of the Tenant’s obligations hereunder, the Security Deposit, or so much thereof as has not therefore been applied by the Landlord, shall be returned, without payment of interest or
other increment for its use, to the Tenant following the expiration of the Term and after the Tenant has vacated the Leased Premises.  No trust relationship is created herein between the Landlord and the Tenant with respect to the Security
Deposit.
	 	 
	 	 
	 State of the

Premises
	The Landlord shall provide the Leased Premises to the Tenant on a
“Turnkey” basis and built to the their building standards specifications and in accordance with the design outlined on the attached Schedules A and A1, together with the addition of a doorbell as noted below, on or before July 1, 2019
(the “Fixturing Date”).  The Tenant shall have five (5) Business Days commencing on the date that it receives the Leased Premises to inform the Landlord of any objections or deficiencies with the Leased Premises
(“Deficiencies”), after which, subject to and excluding any Deficiencies, the Tenant will accept the Leased Premises on an “as is” basis. The Landlord shall build out the Premises to match their building standards.

	 	 
	Doorbell	On or before June 30, 2019, the Landlord shall install at its own cost a
doorbell on the exterior of the Leased Premises for use by the Leased Premises.
	 	 
	Parking	The Landlord shall provide one (1) reserved parking stall to the Tenant at
the prevailing market rates, which is currently $300.00 per month plus taxes.
	 	 
	 	 
	Option to Renew	If the Tenant has not been in material default under under the Lease, the
Landlord shall, at the expiration of the said Term, upon receiving written notice from the Tenant at least six (6) months prior to the expiration of the said Term, grant to the Tenant a renewal lease for  the Leased Premises for a further
term of three (3) years on the same terms and conditions as the Lease except as to this clause, the amount of any inducements or improvements and except as to the amount of Rent which is to be based upon the fair market rent for the Leased Premises
as they exist at that time, as comparable with premises of similar size, quality, improvements and location at the time of review (the “Time of Review” is the four (4) month period preceding the last anniversary  of the Term),
as negotiated between the Parties during the Time of Review. In the event the Landlord and Tenant do not agree as to the fair market rent during the Time of Review, the rent shall be set by arbitration under the provisions of the Commercial
Arbitration Act of British Columbia.
	 	 
	Fixturing Period	The Tenant shall have access to the Leased Premises for the purposes of
fixturing and conducting general business practice for a sixty (60) day period (the “Fixturing Period”) commencing on the Fixturing Date from July 1st, 2019 to August 31, 2019, free of any Basic Rent, Operating Costs, Additional Rent or
Taxes. Should the Landlord not deliver the Leased Premises on a Turnkey basis and to the specification contained in the section entitled “State of the Premises” above on the Fixturing Date, the commencement date and expiry date of the
Term will be delayed until such day that is 61 days after the commencement of the Fixturing Period.EX-10.9

  Exhibit 10.9

 SHARE PURCHASE
AGREEMENT
 AMONG

MERIDEX SOFTWARE CORPORATION,
 BIOGEN SCIENCES INC.

AND

THE SHAREHOLDERS OF BIOGEN SCIENCES INC.

May 10, 2014

 
 

  

  

 

TABLE OF CONTENTS

	ARTICLE 1 DEFINITIONS AND INTERPRETATION	2
	     Definitions	2
	     Interpretation	7
	ARTICLE 2 SHARE PURCHASE	8
	     Purchase and Sale	8
	     Purchase Consideration	8
	     Surrender of Share Certificates	8
	ARTICLE 3 REPRESENTATIONS AND WARRANTIES OF MERIDEX	8
	     Representations and Warranties of
Meridex	8
	     Reliance	12
	ARTICLE 4 REPRESENTATIONS AND WARRANTIES IN RESPECT OF BSI	13
	     Representations and Warranties in Respect
of BSI	13
	     Reliance	19
	ARTICLE 5 SURVIVAL OF REPRESENTATIONS AND WARRANTIES	19
	     Survival of Representations and
Warranties	19
	ARTICLE 6 COVENANTS IN RESPECT OF BSI	20
	     Covenants in Respect of BSI	20
	ARTICLE 7 COVENANTS OF THE BSI SHAREHOLDERS	24
	     Covenants of the BSI Shareholders	24
	ARTICLE 8 COVENANTS OF MERIDEX	25
	     Covenants of Meridex	25
	ARTICLE 9 INDEMNIFICATION	28
	     Mutual Indemnifications for Breaches of
Warranty	28
	     Limitation on Mutual
Indemnification	28
	     Procedure for Indemnification	28
	ARTICLE 10 CONDITIONS PRECEDENT	29
	     Mutual Conditions Precedent	29
	     Conditions for the Benefit of
Meridex	30
	     Conditions for the Benefit of BSI Shareholders	31
	ARTICLE 11 CLOSING	32
	     Time of Closing	32
	ARTICLE 12 TERMINATION	32
	     Termination by Meridex	32
	     Termination by BSI	32
	     Other Termination Rights	32
	     Effect of Termination	33
	ARTICLE 13 EXPENSES	33
	     Responsibility for Own Costs	33
	ARTICLE 14 GENERAL	33
	     public Announcement	33

 

 
 

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ii
 - 

  
  

	Independent Legal Advice	34
	Entire Agreement	34
	Further Assurances	34
	Severability	34
	Applicable Law	34
	Attornment	34
	Successors and assigns	35
	Time of Essence	35
	Notices	35
	Waiver	36
	Amendments	36
	Remedies Cumulative	36
	Counterparts	36
	 	 

 

 

 
 

 

  

 

SHARE PURCHASE AGREEMENT

THIS AGREEMENT is dated as of the 9 day of May, 2014

AMONG:

MERIDEX SOFTWARE CORPORATION, a corporation organized
pursuant to the laws of British Columbia, and with an address at 350-409 Granville Street, Vancouver, BC V6C 1T2 

(“Meridex”)

AND:

BIOGEN SCIENCES INC., a corporation organized pursuant
to the laws of British Columbia, and with an address at 1400-1125 Howe St, Vancouver, BC V6Z-2K8

(“BSI”)

AND:

Dr. Sazzad Hossain, an individual with an address at

XYZZ, Richmond, BC Canada

(“Sazzad”)

AND:

Dr. Hyder A. Khoja, an individual with an address
at
 28-3850 Dominion St.

Burnaby, BC V5G 1C2

(“SH2”)

AND:

Nick Brusatore, an individual with an address at

#25-130 Brew Street, Port Moody BC.

(“SH3”)

 
 

 -
2
 - 

 WHEREAS:

(A)       Sazzad, SH2, and SH3 are the shareholders of BSI;

(B)       Sazzad has invented a Botanical Drug Design Platform also described as a Cannabinoid Drug Design Platform and, together with BSI, has begun the process of filing a [US]
Provisional Patent application entitled “Method Of Predicting Efficacy Of Drug and Botanical Compound Combinations” (the “In-Process Patent”), a description of which is included in the attached Schedule 4.1(e);
and
 (C)       Meridex wishes to acquire all of the shares of BSI and the BSI Shareholders wish to sell their BSI Shares to Meridex (each of such capitalized terms as herein defined) on
the terms and conditions set out herein;
 NOW
THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the mutual covenants and agreements herein contained and of other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree
as follows:
 ARTICLE 1

DEFINITIONS AND INTERPRETATION

Definitions

1.1       In this Agreement, the
following terms have the meanings ascribed thereto as

follows:

(a)       “Acquisition” means the acquisition of all the BSI Shares by
Meridex;
 (b)       “Affiliate” has the meaning specified in BCBCA;

(c)       “Agreement” means this share purchase agreement, as the same may be
amended, supplemented or otherwise modified from time to time in accordance with the terms hereof;

(d)       “Alternative Transaction” has the meaning given to the term in
§6. l(m) hereof;
 (e)       “Ancillary Agreements” means all agreements, certificates and other
instruments delivered or given pursuant to this Agreement;

(f)       “BCBCA” means the British Columbia Business Corporations
Act;
 (g)       “BSI Assets” means the property and assets of BSI as a going
concern, of every kind and description and wheresoever situated, including, for greater certainty and without limitation, the BSI Intellectual Property

(h)       “BSI
Information” has the meaning given to the term in §8.l(c)(i) hereof;

 
 

 -
3
 - 

  

 

(i)       “BSI Intellectual Property” means the Intellectual Property of BSI
and Dr. Sazzad Hossain, including, for greater certainty and without limitation, the Botanical Drug Design Platform and the In-Process Patent to be filed

(j)       “BSI Shareholders” means Sazzad, SH2, and SH3;

(k)       “BSI Shares” means the common shares in the capital of
BSI;
 (l)       “Business Day” means any day, other than a Saturday, Sunday or
statutory holiday in British Columbia;
 (m)       “Canadian GAAP” means generally accepted accounting principles in
Canada as in effect from time to time, consistently applied;

(n)       “Claims” means any suit, action, dispute, civil or criminal
litigation, claim, arbitration or legal, administrative or other proceeding or governmental investigation, including appeals and applications for review;

(o)       “Closing” means the completion of the transactions contemplated
herein;
 (p)       “Closing Date” means May 16, 2014 or such other Business Day as the
Parties may agree in writing;
 (q)       “CSE” means the Canadian Securities Exchange;

(r)       “CSE Listing Statement” means the CSE prescribed Listing Statement
(Form 2A) prepared and filed, as supplemented and amended from time to time, by Meridex;

(s)       “Disclosure Exceptions” means the exceptions to the representations
and warranties of Meridex, BSI or the BSI Shareholders, as the case may be, to be provided in writing as contemplated by Article 3 and Article 4 hereof;

(t)       “Environmental Law” means any applicable federal, provincial, state,
local or foreign law (including common law), statute, code, rule, regulation, ordinance, or other legal requirement, guidelines, criteria or standards relating to the protection of occupational health or safety or the environment, including natural
resources and the protection thereof and other similar guidelines, criteria and standards of Governmental Entities;

(u)       “Environmental Permits” means all permits, authorizations, consents
and approvals required by Environmental Laws for the continued operation of the respective businesses of each Party and each of its Subsidiaries as currently conducted or as proposed to be conducted;

(v)       “Escrow Agreement” means the escrow agreement in the form prescribed
under the policy NP 46-201 to be entered into by the BSI Shareholders with Meridex and an escrow agent;

 
 

 -
4
 - 

 (w)       “Governmental Entity” means any government, parliament, legislature,
regulatory authority, governmental department, agency, commission, board, tribunal, crown corporation, court or other law, rule or regulation-making entity having jurisdiction or exercising executive, legislative, judicial, regulatory or
administrative powers on behalf of any federation or nation, or any province, territory, state or other subdivision thereof or any municipality, district or other subdivision thereof;

(x)       “Governmental Order” means any order, writ, ruling, judgment,
injunction, decree, stipulation, determination, award, directive or citation entered by or with any Governmental Entity;

(y)       “Hazardous Substances” means any substance, material or waste that
is regulated by, or forms the basis of liability, now or hereafter, under any applicable Environmental Laws;

(z)       “Indebtedness” means as to any Person, all obligations of such
Person for payment of borrowed money, including obligations for payment of principal, interest and penalties;

(aa) “Infringe” has the meaning given to
the term in §4.l(f)(ii) hereof;
 (bb)
“Intellectual Property” means all (i) inventions, discoveries and ideas (whether patentable or unpatentable and whether or not reduced to practice), and all patents, applications for patents and provisional patents (including,
without limitation, the in- process patent); (ii) trade secrets, know-how, confidential information, and other proprietary rights and information; (iii) trademarks, service marks, trade names and other indications of origin including all goodwill
associated with all of the foregoing, and all applications, registrations and renewals in connection with all of the foregoing, in any jurisdiction; (iv) copyrights and works of authorship, whether copyrightable or not, and all applications,
registrations and renewals in connection therewith, in any jurisdiction; (v) Internet domain names; (vi) computer technology, equipment, devices, systems, hardware, software and databases; and (vii) other similar intellectual property or proprietary
rights;
 (cc) “Laws” means all
statutes, codes, ordinance, regulations, statutory rules, published policies, published guidelines and terms and conditions of any grant of approval, permission, authority or license of any Governmental Entity, and the term “applicable”
with respect to such Laws, and in the context that refers to one or more Persons, means that such Laws apply to such Person or Persons or its or their business, undertaking, property or securities and emanate from a Governmental Entity having
jurisdiction over the Person or Persons or its or their business, undertaking, property or securities (all references herein to a specific statute being deemed to include all applicable rules, regulations, rulings, orders and forms made or
promulgated under such statute and the published policies and published guidelines of the Governmental Entity administering such statute) and will include the published rules and policies of the CSE;

 
 

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(dd) “Lien” means any mortgage,
charge, pledge, hypothecation, security interest, assignment, lien (statutory or otherwise), charge, title retention agreement or arrangement, restrictive covenant or other encumbrance of any nature or any other arrangement or condition, which, in
substance, secures payment, or performance of an obligation;
 (ee) “Listing Statement” means the CSE Listing Statement in the prescribed form [to be] filed by Meridex in connection with Meridex’s application for listing on the CSE, including all
appendices thereto, as the same may be amended from time to time;
 (ff) “Material Contracts” means all contracts or other obligations or rights (and all amendments, modifications and supplements thereto to which any Party or any of its Subsidiaries is a party
affecting the obligations of any party thereunder) to which a Party or its Subsidiaries is a party or by which any of their respective properties or assets are bound that are material to the business, properties or assets of a Party or its
Subsidiaries taken as a whole;
 (gg)
“material fact” has the meaning ascribed thereto in the Securities Act;

(hh) “Meridex Assets” means the
property and assets of Meridex as a going concern, of every kind and description and wheresoever situated;

(ii) “Meridex Constating Documents”
means the Notice of Articles and Articles of Meridex;
 (jj) “Meridex Financial Statements” means the audited financial statements of Meridex for the year ended June 30, 2013, together with the notes thereto;

(kk) “Meridex Information” has the
meaning given to the term in §6.1(c) hereof;

(11) “Meridex Shareholders” means the
holders of Meridex Shares;
 (mm)
“Meridex Shares” means the common shares in the capital of Meridex;

(nn) “misrepresentation” has the meaning
ascribed thereto in the Securities Act;
 (oo)
“Name Change” means the change of the name of Meridex from “Meridex Software Corporation” to “Cannabis Technologies Inc.” or such other name selected by the board of directors of Meridex;

(pp) “NP 46-201” means National
Policy 46-201 adopted by the members of the Canadian Securities Administrators;
 (qq) “Party” means a party to this Agreement and “Parties” means all parties to this Agreement;

 
 

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(rr) “Permits” means in respect of a
party, all permits, licenses, variances, exemptions, orders and approvals of all Governmental Entities necessary for the lawful conduct of the respective businesses of the Party or any of its Subsidiaries;

(ss) “Permitted Liens” means Liens for
current Taxes or other governmental charges not yet due and payable or delinquent, the amount or validity of which is being contested in good faith by appropriate proceedings or which may thereafter be paid without penalty or such imperfections of
title, easements, encumbrances and mortgages or other Liens, if any, as are not material (alone or in the aggregate) in character, amount or extent and do not materially detract from the value, or materially interfere with the present use, of any
property subject thereto or affected thereby, and any Liens listed in the Disclosure Exceptions;

(tt) “Person” means and includes an
individual, firm, sole proprietorship, partnership, joint venture, venture capital or hedge fund, association, unincorporated association, unincorporated syndicate, unincorporated organization, estate, group, trust, body corporate (including a
limited liability company and an unlimited liability company), a trustee, executor, administrator or other legal representative, Governmental Entity, syndicate or other entity, whether or not having legal status;

(uu) “Protection of Corporate Interest
Agreement” has the meaning given to the term in §7.1(c) hereof;
 (vv) “In-Process Patent” has the meaning given to the term in the recitals hereof;

(ww) “Real Property” has the meaning given
to the term in §4.1 (v)(iii) hereof;
 (xx)
“Regulatory Approvals” means those sanctions, rulings, consents, orders, exemptions, permits and other approvals (including the lapse, without objection, of a prescribed time under a statute or regulation that permits a
transaction to be implemented if a prescribed time lapses following the giving of notice without an objection being made) of any applicable Governmental Entity;

(yy) “Securities Act” means the
Securities Act (British Columbia) and all blanket rulings, policy statements, orders, rules and notices of the British Columbia Securities Commission;

(zz) “Subsidiary” means, with respect
to a specified body corporate, a body corporate of which more than 50% of the outstanding shares ordinarily entitled to elect a majority of the directors thereof, whether or not shares of any other class or classes will or might be entitled to vote
upon the happening of any event or contingency, are at the time owned, directly or indirectly, by such specified body corporate, and includes a body corporate in like relation to a subsidiary;

(aaa) “Tax Returns” means all returns,
declarations, reports, information returns and statements filed or required to be filed with any taxing authority relating to Taxes; and

 
 

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 (bbb) “Taxes” means all present and future taxes, levies, imposts, duties, deductions, withholdings, assessments, fees or other charges imposed by any Governmental Entity in the nature of a tax,
including any interest, additions to tax and penalties applicable thereto;
 Interpretation

1.2       For the purposes of this Agreement, except as otherwise expressly provided:

(a)       a reference to an Article is to an Article of this Agreement, and the symbol § followed by a number or some combination of numbers and letters refers to the section,
subsection, paragraph, subparagraph, clause or subclause of this Agreement so designated;

(b)       the captions, § numbers and Article numbers appearing in this Agreement are inserted for convenience of reference only and will in no way define, limit, construe or
describe the scope or intent of this Agreement nor in any way affect this Agreement;

(c)       the word “including”, when following any general statement or term, is not to be construed as limiting the general statement or term to the specific items or
matters set forth or to similar items or matters, but rather as permitting the general statement or term to refer to all other items or matters that could reasonably fall within its broadest possible scope;

(d)       in the event that any date on which any action is required to be taken hereunder by any of the parties is not a Business Day, such action will be required to be taken on the
next succeeding day which is a Business Day;

(e)       a reference to a statute includes all regulations made thereunder, all amendments to the statute or regulation in force from time to time, and every statute or regulation
that supplements or supersedes such statute or regulation;

(f)       words importing the masculine gender include the feminine or neuter, words in the singular include the plural, a word importing a corporate entity includes an individual,
and vice versa;
 (g)       all dollars amounts, unless otherwise specified, are in Canadian dollars; and

(h)       where any matter is
stated to be “to the knowledge” or “to the best of the knowledge” of BSI or words to like effect in this Agreement, such will mean the actual knowledge of any of the officers or directors of BSI after due inquiry. Where any
matter is stated to be “to the knowledge” or “to the best of the knowledge” of Meridex or words to like effect in this Agreement, such will mean the actual knowledge of the senior officers of Meridex after due
inquiry.

 
 

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 ARTICLE 2

SHARE PURCHASE

Purchase and Sale

2.1       Subject to the terms and conditions hereof and based upon the mutual representations, warranties, terms and conditions herein contained and the prior satisfaction or waiver
of the conditions precedent, which are set forth in Article 10 herein, each of the BSI Shareholders agrees to assign, sell and transfer to Meridex on the Closing Date all their right, title and interest in and to their respective BSI Shares as set
out in Schedule A attached hereto and Meridex agrees to purchase all of the BSI Shares from the BSI Shareholders.

Purchase Consideration

2.2       The purchase price for the BSI Shares will be paid by Meridex on the Closing Date by the issuance of the 4,000,000 Meridex Common Shares, which shall be issued on a prorata
basis to the BSI Shareholders in accordance with their respective BSI Shareholdings.
 Surrender of Share Certificates

2.3       Each BSI Shareholder who is entitled to receive Meridex Shares in exchange for their BSI Shares as set out in §2.1 will on or after Closing surrender the certificate or
certificates representing the BSI Shares held by such BSI Shareholder to Meridex and in return will be entitled to receive a certificate representing Meridex Shares on the basis set out herein. Until such surrender and exchange, the share
certificate or certificates representing BSI Shares held by each such BSI Shareholder will be evidence of their right to be registered as a holder of Meridex Shares.

ARTICLE 3

REPRESENTATIONS AND WARRANTIES OF MERIDEX

Representations and Warranties of Meridex

3.1       Meridex represents and warrants to BSI and each of the BSI Shareholders as

follows and acknowledges that BSI and each of the BSI Shareholders
is relying on such representations and warranties in connection with the transactions contemplated hereby:

Incorporation, Organization and Authority of
Meridex

(a)       Meridex is a
corporation duly organized and validly subsisting and in good standing under the laws of British Columbia, and has all the requisite corporate capacity and authority to enter into this Agreement and to perform its obligations hereunder and to carry
on its business and to own, lease and operate the Meridex Assets.

 
 

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Necessary Proceedings

(b)       All necessary and required corporate measures, proceedings and actions of the directors and shareholders of Meridex have been taken or duly initiated to authorize and enable
Meridex to enter into and deliver this Agreement and the Ancillary Agreements and to perform its obligations hereunder and thereunder and to issue the Meridex Shares issuable in connection with the Acquisition.

Valid and Binding Obligation

(c)       This Agreement and each of the Ancillary Agreements to which Meridex is a party have been duly executed and delivered by Meridex and constitute legal, valid and binding
obligations of Meridex, enforceable against it in accordance with their respective terms subject only to:

(i)       any limitation under applicable Laws relating to bankruptcy, insolvency, moratorium, reorganization and other similar laws relating to or affecting the enforcement of
creditors’ rights generally; and
 (ii)       the fact that equitable remedies, including the remedies of specific performance and injunction, may only be granted in the discretion of a court.

Share Capital of Meridex

(d)       The authorized capital of Meridex consists of an unlimited number of common shares without par value of which 36,449,285common shares without par value are duly and validly
issued and outstanding as fully paid and non-assessable as of the date hereof. Other than as disclosed in the continuous disclosure record of Meridex (including the Financial Statements) accessible on SEDAR or in writing to BSI, and as contemplated
by this Agreement (including §2.2), there is no other agreement, obligation (contractual or otherwise), right or option existing or pending pursuant to which Meridex is or might be required to issue any shares or other securities of its
capital.
 Reporting Issuer

(e)       Meridex is a reporting issuer under the Securities Act (Alberta) and the Securities Act (British Columbia) and Meridex’s name does not appear on a list
of defaulting reporting issuers maintained by the British Columbia or Alberta securities commissions. Meridex is in compliance and up to date with all filings under applicable corporate and securities laws, rules and regulations.

Cease Trading

(f)       No order ceasing
trading in securities of Meridex or prohibiting the sale of securities by Meridex is currently in effect and to Meridex’s knowledge, no proceedings for this purpose have been instituted, are pending, contemplated or threatened.

 
 

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 Financial Statements

(g)       The Meridex Financial Statements have been prepared in accordance with Canadian GAAP and present fairly the assets, liabilities (whether accrued, absolute, contingent or
otherwise) and financial condition of Meridex as of the respective dates thereof and the consolidated sales, income and results of operations of Meridex for the respective financial periods covered thereby.

Auditors

(h)       The auditors of Meridex who audited the Meridex Financial Statements and delivered the audit report with respect to those statements are independent public
accountants.
 Material
Change
 (i)       There has been no material change in the capital, business, Meridex Assets, liabilities, obligations (absolute, accrued, contingent or otherwise), operations, condition
(financial or otherwise), results of operations, financial position, capital or long-term debt, affairs or prospects of Meridex since the date of the Meridex Financial Statements, which have not been disclosed in the manner required by applicable
Laws, and all public filings made by, or on behalf of, Meridex do not contain any untrue statement of a material fact or omit to state a material fact that was required to be stated.

Business of Meridex

(j)       Meridex has conducted and is conducting its business in all material respects in compliance with all applicable Laws, rules and regulations.

Liabilities of Meridex

(k)       There are no known liabilities (whether accrued, absolute, contingent or otherwise) of Meridex of any kind whatsoever, and, to the best of the knowledge of Meridex, there is
no basis for assertion against Meridex of any liabilities of any kind, other than:

(i)       liabilities disclosed or reflected in or provided for in the Meridex Financial Statements; or

(ii)       liabilities incurred since the date of the Meridex Financial Statements which were incurred in the ordinary course of Meridex’s business and, in the aggregate, are not
materially adverse to its business.

Indebtedness

(l)       Meridex has no
bonds, debentures, mortgages, promissory notes or other indebtedness maturing more than one year after the date of their original creation or issuance, and Meridex is not under any obligation to create or issue any bonds,

 
 

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debentures, mortgages, promissory notes or other indebtedness
maturing more than one year after the date of their original creation or issuance.
 Guarantees

(m)       Meridex is not a party to, or bound by, any agreement of guarantee, indemnification, assumption or endorsement or any like commitment of the obligations, liabilities
(contingent or otherwise) or indebtedness of any other Person.
 Tax Matters

(n)       Meridex is not in arrears or in default in respect of the filing of any required federal, provincial or municipal tax or other tax return; and (i) all taxes, filing fees and
other assessments due and payable or collectible from Meridex will have been paid or collected prior to the Closing Date, (ii) no claim for additional taxes, filing fees or other amounts and assessments due and payable or collectible from Meridex
has been made which has not been collected, and (iii) to the best of the knowledge of Meridex, no such return contains any misstatement or conceals any statement that should have been included therein.

Meridex Corporate Records

(o)       The corporate records and minute books of Meridex contain substantially complete and accurate minutes of all meetings of the directors and shareholders of Meridex held since
its incorporation, and signed copies of all resolutions and Articles duly passed or confirmed by the directors or shareholders of Meridex other than at a meeting, all such meetings having been duly called and held. The share certificate books,
register of security holders, register of transfers and register of directors and any similar corporate records of Meridex are complete and accurate.

No Breach Caused by this Agreement

(p)       Neither the execution nor delivery of this Agreement or the Ancillary Agreements to which Meridex is a party nor the fulfillment or compliance with any of the terms and
conditions hereof or thereof will conflict with, or result in a breach of the terms, conditions or provisions of, or constitute a default under, the Meridex Constating Documents of Meridex or any indenture, mortgage, lease, agreement or instrument
to which Meridex is subject to, save and except in any case which would not have a material adverse effect, or will require any consent or other action by any administrative or governmental body. Meridex has complied with all licenses, franchises,
leases, permits, approvals and agreements to which Meridex is a party or by which Meridex is bound, the breach of which would reasonably have a material adverse effect on Meridex.

Litigation

(q)       To the best of
the knowledge of Meridex, there are no claims, demands, disputes, actions, suits, proceedings or investigations pending or threatened against or, directly or indirectly, affecting Meridex (including without limitation, restraining or
preventing

 
 

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Meridex from issuing Meridex Shares in accordance with this
Agreement), at law or in equity or before or by any federal, provincial, municipal or other local court or Governmental Entity, domestic or foreign, nor is Meridex subject to any presently effective adverse order, writ, injunction or decree of any
such body.
 Brokers

(r)       Meridex has not entered a verbal agreement which would entitle Michael Flowerdew to a broker’s commission and/or finder’s fee matters contemplated by this
Agreement. The fees are to be paid under the policies of the CSE and are currently under negotiations.

Dividends

(s)       Meridex has not, directly or indirectly, declared or paid any dividend or declared or made any other distribution on any of its shares or securities or, directly or
indirectly, redeemed, purchased or otherwise acquired any of its shares or securities or agreed to do any of the foregoing.

Approvals

(t)       No approval of, registration, declaration or filing by Meridex with any federal, provincial, municipal or local court or Governmental Entity is necessary to authorize the
execution and delivery of this Agreement, or any and all of the documents and instruments to be delivered under this Agreement, by Meridex or the consummation by Meridex of the transactions contemplated herein, other than compliance with any
applicable Laws and any required approval of the CSE.
 Transfer Agent and Registrar

(u)       Computershare Investor Services Inc. at its offices in Vancouver, British Columbia has been duly appointed as the transfer agent and registrar for all of the outstanding
common shares of Meridex.
 Share
Issuance
 (v)       On the Closing Date, the Meridex Shares to be issued by Meridex to BSI Shareholders pursuant to this Agreement will be duly authorized and validly allotted and issued as
fully paid and non-assessable Meridex Shares to BSI Shareholders.
 Name Change

(w)       Meridex shall effect a Name Change in connection with the Closing.

Reliance

3.2       The representations and warranties in §3.1 are made with the knowledge and expectation that BSI and the BSI Shareholders are placing complete reliance thereon.
Such

 
 

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 reliance will not be affected by any investigation or examination conducted by BSI or the BSI Shareholders or their representatives before or after the date of this Agreement.

ARTICLE 4

REPRESENTATIONS AND WARRANTIES IN RESPECT OF
BSI
 Representations and Warranties in Respect of
BSI

4.1       
The BSI and the BSI Shareholders and jointly and severally represent and warrant to Meridex as follows and acknowledge that Meridex is relying on such representations and warranties in connection with the transactions contemplated hereby:

Incorporation, Organization and Authority of
BSI
 (a)       BSI is a corporation duly incorporated, organized and validly subsisting and in good standing under the laws of [British Columbia], and has all the requisite
corporate capacity and authority to enter into this Agreement and to perform its obligations hereunder and to carry on its business and to own, lease and operate BSI Assets. 

Necessary Proceedings

(b)       All necessary or required corporate measures, proceedings and actions of the directors and shareholders of BSI have been taken to authorize and enable BSI to enter into and
deliver this Agreement and the Ancillary Agreements to which BSI is a party and to perform its obligations hereunder and thereunder.

Valid and Binding Obligation

(c)       This Agreement and each of the Ancillary Agreements to which BSI is a party have been duly executed and delivered by BSI and constitute, or when duly executed and delivered
will constitute, a legal, valid and binding obligation of BSI, enforceable against it in accordance with their respective terms subject only to:

(i)       any limitation under applicable Laws relating to bankruptcy, insolvency, moratorium, reorganization and other similar laws relating to or affecting the enforcement of
creditors’ rights generally; and
 (ii)       the fact that equitable remedies, including the remedies of specific performance and injunction, may only be granted in the discretion of a court.

Share Capital of BSI

(d)       The authorized
capital of BSI consists of 100 common shares, of which 100 common shares are duly and validly issued and outstanding as fully paid and nonassessable shares as at the date hereof. Other than as disclosed to Meridex in writing, there is no other
agreement, obligation (contractual or otherwise), right or option, existing

 
 

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or pending pursuant to which BSI is or might be required to
issue any further shares or other securities of its capital. Other than the BSI Shares, there are no other securities of BSI issued or outstanding.

BSI Assets

(e)       Schedule 4.1(e) contains a list of all material BSI Assets. Other than the Permitted Liens or other than as disclosed in writing to Meridex, BSI has good and marketable
title to the BSI Assets free and clear of any actual, pending or, to the knowledge or belief of BSI, threatened claims, Liens or set-offs whatsoever, including without limitation any action, proceeding or investigation affecting title to BSI Assets,
at law or in equity, before any court, administrative agency or Governmental Entity, to all of BSI Assets and to any properties, except those sold in the ordinary course of business during such period, save and except in any case which would not
have a material adverse effect. Other than as disclosed to Meridex in writing, BSI has not granted or entered into any agreement, option, understanding or commitment or any encumbrance of or disposal of the BSI Assets or an interest therein or any
right or privilege capable of becoming an agreement or option with respect to the BSI Assets and will not do so prior to the Closing Date, save and except in any case which would not have a material adverse effect.

Intellectual Property

		(f)	(i) Sazzad or BSI now, or at closing will, own or have the valid rights to use all of the BSI Intellectual Property. BSI has a valid
and enforceable right to use all third party Intellectual Property used or held for use in the business of BSI.

(ii)       To Sazzad’s and BSI’s knowledge, the conduct of BSI’s business as currently conducted does not infringe or otherwise impair or conflict with (collectively,
“Infringe”) any Intellectual Property rights of any third party or any confidentiality obligation owed to a third party, and the Intellectual Property of BSI which is material to the conduct of the business of BSI as currently
conducted or as currently proposed to be conducted is not, to BSI’s knowledge, being Infringed by any third party.

Pre-emptive Rights

(g)       No Person has any agreement or option or any right or privilege (whether by law, pre-emptive or contractual) capable of becoming an agreement or option for the purchase,
subscription or issuance from treasury of any shares or other securities of BSI or securities convertible into, exchangeable for, or which carry the right to purchase common shares or other securities of BSI.

Financial Statements

(h)       The BSI
Financial Statements have been prepared in accordance with Canadian GAAP and present fairly the assets, liabilities (whether accrued, absolute, contingent or otherwise) and financial condition of BSI as of the respective dates thereof and
the

 
 

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 consolidated sales, income and results of operations of BSI for the respective financial periods covered thereby.

Auditors

(i)       The auditors of BSI who audited the BSI Financial Statements and delivered the audit report with respect to those statements are independent public accountants.

Material Information

(j)       There are no material facts or material information, which exist, and there has been no material change in the capital, business, BSI Assets, liabilities, obligations,
condition (absolute, accrued, contingent or otherwise), results of operations, financial position, capital or long-term debt, affairs or prospects of BSI since the date of the BSI Financial Statements, which have not been disclosed in writing to
Meridex.
 Business of BSI

(k)       Other than as disclosed in writing to Meridex, BSI has conducted and is conducting its business in all material respects in full compliance with all applicable Laws, rules
and regulations of each jurisdiction in which its business is carried on and holds all necessary licenses, permits, approvals, consents, certificates, registrations and authorizations, whether governmental, regulatory or otherwise, to enable its
business to be carried on as it is currently conducted and its property and assets to be owned, leased and operated, and the same are validly existing and in good standing and none of such licenses, permits, approvals, consents, certificates,
registrations and authorizations contains any burdensome term, provision, condition or limitation, save and except in any case which would not have a material adverse effect.

Liabilities of BSI

(l)       There are no known liabilities (whether accrued, absolute, contingent or otherwise) of BSI of any kind whatsoever, and, to the best of the knowledge of BSI, there is no
basis for assertion against BSI of any liabilities of any kind, other than:

(i)       liabilities disclosed or reflected in or provided for in the BSI Financial Statements; or

(ii)       liabilities incurred since the date of the BSI Financial Statements which were incurred in the ordinary course of the routine daily affairs of BSI’s business or, in
the aggregate, are not materially adverse to their businesses.
 Indebtedness
 (m)       Other than Indebtedness of BSI to Meridex and Indebtedness incurred in the ordinary course of business, BSI has no Indebtedness and is not under any obligation to create or
issue any bonds, debentures, mortgages, promissory notes or other Indebtedness.

 
 

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Guarantees

(n)       BSI is not a party to, or bound by, any agreement of guarantee, indemnification, assumption or endorsement or any like commitment of the obligations, liabilities (contingent
or otherwise) or indebtedness of any other Person.

Tax Matters

(o)       Other than as disclosed to Meridex in writing, BSI is not in arrears or in default in respect of the filing of any required federal, provincial or municipal tax or other tax
return; and (i) all taxes, filing fees and other assessments due and payable or collectible from BSI will have been paid or collected prior to the Closing Date, (ii) no claim for additional taxes, filing fees or other amounts and assessments due and
payable or collectible from BSI has been made or threatened which has not been collected, and (iii) to the best of the knowledge of BSI, no such return contains any misstatement or conceals any statement that should have been included
therein.
 Absence of Other
Agreements
 (p)       Other than as disclosed to Meridex in writing, BSI:

(i)       is not a party to any Material Contract;

(ii)       is not a party to, nor operates any bonus, pension, profit sharing, deferred compensation, retirement, hospitalization insurance, medical insurance or similar plan or
practice, formal and informal, in effect with respect to any employees of BSI;

(iii)       is not bound by any agreement whether written or oral with any employee of BSI providing for a specified period of notice of termination nor providing for any fixed term of
employment, and has now and as of the Closing Date will have no employees who cannot be dismissed upon such notice as applicable Law may permit;

(iv)       is not bound by any outstanding contract or commitment which requires prior approval of any change of control of BSI; and

(v)       is not bound by any outstanding contract or commitment except those entered into in the ordinary course of business and is not in default under any material contract by
which it is bound or under which it is entitled to the benefits of and advantages thereof, save and except in any case which would not have a material adverse effect.

Good Standing of Agreements

(q)       Schedule 4.1(q)
contains a list of all contracts material to Meridex. Other than as disclosed to Meridex in writing, BSI is not in default or breach of any of its obligations under any one or more contracts, agreements (written or oral), commitments,
indentures

 
 

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or other instruments to which it is a party or by which it is
bound save and except in any case which would not have a material adverse effect and there exists no state of facts which, to the best of the knowledge of BSI, after notice or lapse of time or both, would constitute such a default or breach. All
such contracts, agreements, commitments, indentures and other instruments have been duly authorized, executed and delivered and are now in good standing and in full force and effect without amendment thereto, BSI is entitled to all benefits
thereunder and, to the best of the knowledge of BSI, the other parties to such contracts, agreements, commitments, indentures and other instruments are not in default or breach of any of their obligations thereunder save and except in any case which
would not have a material adverse effect.

BSI Corporate Records

(r)       The corporate records and minute books of BSI contain substantially complete and accurate minutes of all meetings of the directors and shareholders of BSI held since its
incorporation, and signed copies of all resolutions and by-laws duly passed or confirmed by the directors or shareholders of BSI other than at a meeting, all such meetings having been duly called and held. The share certificate books, register of
security holders, register of transfers and register of directors and any similar corporate records of BSI are complete and accurate.

No Breach Caused by this Agreement

(s)       The execution, delivery and performance by BSI of its obligations under this Agreement and the Ancillary Documents and the consummation of the transactions contemplated
hereby do not and will not (i) contravene, conflict with or result in a violation or breach of any provision of any applicable Laws or any license, approval, consent or authorization held by BSI, (ii) require any notice or consent or other action by
any Person under, contravene, conflict with, violate, breach or constitute a default or an event that, with or without notice or lapse of time or both, would constitute a default, under, or cause or permit the termination, cancellation, acceleration
or other change of any right or obligation or the loss of any benefit to which BSI is entitled under, or give rise to any rights of first refusal or trigger any change in control provisions or any restriction under, any provision of any Material
Contract or other instrument binding upon BSI or affecting any of its assets, or (iii) result in the creation or imposition of any Lien on any asset of BSI, with such exceptions, in the case of each of clauses (ii) and (iii), as do not have or would not have, or be reasonably expected to have, individually or in the aggregate, a material adverse effect. 

Litigation

(t)       To the best of the knowledge of BSI, there are no claims, demands, disputes, actions, suits, proceedings or investigations pending or threatened against or directly or
indirectly affecting BSI, at law or in equity or before or by any federal, provincial, municipal or other governmental court, department or Governmental Entity, domestic or foreign, nor is BSI subject to any presently effective adverse order, writ,
injunction or decree of any such body.

 
 

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 No Brokers

(u)       Except as disclosed in writing to Meridex, BSI has not entered into any agreement which would entitle any Person to any valid claim against Meridex or BSI for a
broker’s commission, finder’s fee or any like payment in respect of any matters contemplated by this Agreement.

Environmental Matters

		(v)	(i)       BSI carries on its business and operates and maintains the properties and assets used in its
business in compliance with all applicable Environmental Law in all material respects and, to the knowledge of BSI, there are no facts at the date hereof that will give rise to a notice of non-compliance by BSI with any applicable Environmental
Law.

  

(ii)       BSI has all material Environmental Permits required for it to operate its business and to own, use and operate the properties and assets used in such business, except in any
case where the failure to hold an Environmental Permit would not have a material adverse effect.

(iii)       BSI has not used any of the facilities or real property owned, leased, occupied or used by it (including any real property previously owned, leased, occupied or used by it)
(the “Real Property”), or permitted them to be used, to refine, treat, dispose, produce or process Hazardous Substances except in material compliance with all Environmental Law and Environmental Permits held by BSI.

(iv)       BSI has not received written notice, nor does BSI have knowledge of any facts that could give rise to any notice, that BSI is potentially responsible for any remedial or
other corrective action or any work, repairs, construction or capital expenditures to be made under any Environmental Law with respect to their respective business or the Real Property.

Dividends

(w)       Except as disclosed in writing to Meridex, BSI has not, directly or indirectly, declared or paid any dividend or declared or made any other distribution on any of its shares
or securities or, directly or indirectly, redeemed, purchased or otherwise acquired any of its shares or securities or agreed to do any of the foregoing.

Approvals

(x)       No approval
of, registration, declaration or filing with any federal, provincial or local court or Governmental Entity is necessary to authorize the execution and delivery of this Agreement, or any and all of the documents and instruments to be detailed under
this Agreement by BSI or the consummation by BSI of the transactions contemplated herein, other than compliance with any applicable Laws.

 
 

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Compliance with Laws

(y)       Other than as disclosed to Meridex in writing and as set out in this Agreement, BSI is not in violation of any federal, provincial, municipal or other law, regulation or
order of any Government Entity, domestic or foreign.

Knowledge of BSI

(z)       BSI does not have any information or knowledge of any material facts relating to the business of BSI that, if known to Meridex, might reasonably be expected to deter Meridex
from completing the purchase and sale contemplated herein, or the consummation by Meridex of the other transactions contemplated herein.

Shareholders’ Agreements, etc.

(aa)Other than the power of attorney granted by the BSI
Shareholders to BSI under this Agreement, there are no shareholders’ agreements, pooling agreements, voting trusts or other similar agreements with respect to the ownership or voting of any of the shares of BSI.

No Bankruptcy

(bb) No proceedings have been taken, are pending or
authorized by BSI or by any other person in respect of the bankruptcy, insolvency, liquidation or winding up of BSI.

Reliance

4.2       The representations
and warranties in §4.1 are made with the knowledge and expectation that Meridex is placing complete reliance thereon. Such reliance will not be affected by any investigation or examination conducted by Meridex, or its representatives before or
after the date of this Agreement.
  

ARTICLE 5

SURVIVAL OF REPRESENTATIONS AND WARRANTIES

Survival of Representations and Warranties

5.1       The representations and warranties made by Meridex, BSI and the BSI

Shareholders and contained in this Agreement will continue in
full force and effect for the benefit of the respective Party or Parties, as applicable, subject to the following:

(a)       except as provided in §5.1(b) and §5.1(c), Meridex, BSI and the BSI Shareholders may make or bring any claim for a period of three years from the Closing
Date;

(b)       any claim
which is based upon or relates to the tax liability of BSI or Meridex for a particular taxation year may be made or brought at any time prior to the expiration of

 
 

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the period (if any) during which an assessment, reassessment
or other form of recognized document assessing liability for tax, interest or penalties in respect of such taxation year under applicable tax legislation could be issued, assuming that a waiver or similar document extending such period has not been
filed; and
 (c)       any claim which is based upon or relates to the title to the Meridex Shares or BSI Shares in connection with this Agreement or which is based upon an intentional
misrepresentation or fraud by Meridex, BSI, or any of the BSI Shareholders may be brought at any time.

5.2       After the expiration
of the period of time referred to in §5.1, Meridex, BSI and the BSI Shareholders will be released from any and all obligations and liabilities in respect of the representations and warranties made by each of them and contained in this Agreement
or in any document or certificate given in order to carry out the transactions contemplated hereby, except with respect to any claims made by any of the Parties in writing prior to the expiration of such period and subject to the rights of each of
the Parties to make any claim permitted by §5.1(b) and §5.1(c).
  

ARTICLE 6

COVENANTS IN RESPECT OF BSI

Covenants in Respect of BSI

6.1       BSI and the BSI Shareholders hereby covenant and agree with Meridex as follows:

 

Investigations and Availability of
Records
 (a)       Meridex and its directors, officers, auditors, counsel and other authorized representatives will be permitted to make such commercially reasonable investigations of the
properties, the BSI Assets and businesses of BSI and of its financial and legal conditions as Meridex reasonably deems necessary or desirable, provided always that such investigations will not unduly interfere with the operations of BSI. If
reasonably requested, BSI will provide copies of the corporate records of BSI, including its minute books, share ledgers and the records maintained in connection with the businesses of BSI. Such investigations will not, however, affect or mitigate
in any way the representations and warranties contained in this Agreement, which representations and warranties will continue in full force and effect for the benefit of Meridex.

Necessary Consents

(b)       BSI will use its
commercially reasonable best efforts to obtain from BSI’s directors, shareholders and all appropriate Governmental Entities such approvals or consents as are required (if any) to complete the transactions contemplated herein.

 
 

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 Confidentiality

		(c)	(i)         BSI will keep confidential any confidential information, trade secrets or confidential
financial or business documents (collectively the “Meridex Information”) received by it from Meridex concerning Meridex or its business and will not disclose such Meridex Information to any third party; provided that any of such
Meridex Information may be disclosed to BSI’s directors, officers, employees, representatives and professional advisors who need to know such Meridex Information in connection with the transactions contemplated hereby (provided BSI will use
all reasonable efforts to ensure that such directors, officers, employees, representatives and professional advisors keep confidential such Meridex Information) and provided further that BSI will not be liable for disclosure of Meridex Information
upon occurrence of one or more of the following events:

  

(A)       Meridex Information becoming generally known to the public other than through a breach of this Agreement;

(B)       Meridex Information being lawfully obtained by BSI from a third party or parties without breach of this Agreement by BSI, as shown by documentation sufficient to establish
the third party as a source of Meridex Information;

(C)       Meridex Information being known to BSI prior to disclosure by Meridex or its Affiliates, as shown by documentation sufficient to establish such knowledge; or

(D)       Meridex having provided their prior written approval for such disclosure by BSI.

(ii)       In the event this Agreement is terminated in accordance with the provisions hereof, BSI will:

(A)       use all reasonable efforts to ensure that all documents prepared or obtained in the course of its investigations of Meridex or its business and all copies thereof (except
for copies that are maintained for archival purposes) are either destroyed or returned to Meridex so as to insure that, so far as possible, any Meridex Information obtained during and as a result of such investigations by the directors, officers,
employees, representatives and professional advisors of BSI is not disseminated beyond those individuals concerned with such investigations; and

(B)       not directly or indirectly, use for its own purposes, any Meridex Information, discovered or acquired by the directors, officers, employees representatives and professional
advisors of BSI as a result of Meridex making available to them those documents and assets relating to the business of Meridex.

 
 

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 Status and Filings

(d)       BSI will maintain its corporate status and comply with all applicable corporate and securities requirements (including any applicable filing requirements) prior to
Closing.
 Material Change

(e)       BSI agrees to provide prompt and full disclosure to Meridex of any material information, change or event in the business, operations, financial condition or other affairs of
BSI prior to Closing.
 Supplements to CSE Listing
Statement
 (f)       BSI will use its commercially reasonable best efforts to provide information to Meridex about the business and affairs of BSI in order to assist Meridex in its preparation
of any supplements or amendments to the CSE Listing Statement. In this connection, BSI will:

(i)       ensure that all information provided by it or on its behalf that is contained in the CSE Listing Statement does not contain any misrepresentation or any untrue statement of
a material fact or omit to state a material fact required to be stated in the CSE Listing Statement and necessary to make any statement that it contains not misleading in light of the circumstances in which it is made; and

(ii)       promptly notify Meridex if, at any time before the Closing Date, it becomes aware that the CSE Listing Statement, or any other public document contains a misrepresentation,
an untrue statement of material fact, omits to state a material fact required to be stated in those documents that is necessary to make any statement it contains not misleading in light of the circumstances in which it is made or that otherwise
requires an amendment or a supplement to those documents.

BSI Securities

(g)       BSI will not issue any BSI Shares or any other securities of BSI except with the prior written consent of Meridex.

Indebtedness and Working Capital

(h)       Prior to Closing, BSI will satisfy or cancel all Indebtedness of BSI, including all Indebtedness of BSI owed to the BSI Shareholders and Affiliates of BSI.

(i)       On the Closing, BSI
will have a working capital surplus and no Indebtedness.

 
 

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No Acquisitions

(j)       BSI will not, and will not permit any Affiliate of BSI to, acquire or agree to acquire by amalgamation, arrangement, merger or consolidation with, or by purchasing a
substantial portion of the assets of, or by any other manner, any business or any corporation, partnership, association of other business organization or division thereof or otherwise acquire or agree to acquire any assets which are material,
individually or in the aggregate, to the business of BSI.

No Dispositions

(k)       Except in the ordinary course of business consistent with past practice, BSI will not, and will not permit any Affiliate of BSI to, sell, lease, transfer, mortgage, encumber
or otherwise dispose of any of their assets or cancel, release or assign any indebtedness or claim.

Normal Course

(l)       During the period from the date of this Agreement to the earlier of the completion of the Acquisition or termination of this Agreement, BSI will operate its business in the
usual and ordinary course and will not declare any dividend on, or make other distributions in respect of its outstanding shares, make any distribution, payment or repayment to any non-arm’s length party, enter into any non-arm’s length
contracts, issue any securities (other than on the exercise of convertible securities that are currently outstanding), or make any bonus payments to or increase the compensation or benefits of any directors, officer or employee, other than in the
usual and ordinary course of business consistent with past practice or pursuant to existing contractual agreements.

Exclusive Dealing

(m)       During the
period from the date of this Agreement to the earlier of the completion of the Acquisition or termination of this Agreement, neither BSI, BSI Shareholders, nor any of their respective representatives, associates or affiliates will, unless in any
such case specifically authorized in writing by Meridex, directly or indirectly, solicit, initiate or encourage any expression of interest, proposal or offers from or negotiations with, provide information to or facilitate or engage in any
discussions or negotiations with, enter into any agreement, commitment or understanding with, or otherwise act jointly or in concert with, any person other than Meridex in order to propose or effect any transaction involving BSI which is similar to
the Acquisition, including, without limitation (i) the acquisition or disposition of all or any substantial part of the issued or unissued shares of BSI or any of its affiliates, or (ii) any arrangement, amalgamation, merger, sale of assets,
take-over bid, reorganization, recapitalization, liquidation or winding-up of, or other business combination or similar transaction involving BSI or any of its affiliates and any other party (other than Meridex) (each an “Alternative
Transaction”). BSI will immediately notify Meridex, in writing, upon receipt of any expression of interest, proposal or offer from any Person relating to an Alternative Transaction and will forthwith disclose to Meridex all relevant details
thereof.

 
 

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Compliance with Laws

(n)       BSI will not do any act or take any steps that would be in violation or contrary to any applicable Laws in any material respect.

All Other Actions

(o)       BSI will use all reasonable efforts to satisfy each of the conditions precedent set out in this Agreement to be satisfied by it as soon as practical and in any event before
the Closing Date, and to take, or cause to be taken, all other actions and to do, or cause to be done, all other things necessary, proper or advisable that are commercially reasonable to permit the completion of the Acquisition in accordance with
the terms and conditions of this Agreement and applicable Laws.
 ARTICLE 7

COVENANTS OF THE BSI SHAREHOLDERS

Covenants of the BSI Shareholders

7.1       Each of the BSI Shareholders hereby covenants and agrees with Meridex as follows:

 

Delivery of Share Certificates

(a)       The BSI Shareholder entitled to receive Meridex Shares in exchange for such shareholder’s BSI Shares as set out in §2.1 will on or after Closing surrender the
certificate or certificates representing the BSI Shares held by it to Meridex and in return will be entitled to receive a certificate representing Meridex Shares on the basis set out herein. Until such surrender and exchange, the share certificate
or certificates, representing BSI Shares held by the BSI Shareholder will be evidence of its right to be registered as a holder of Meridex Shares.

Filing of Reports

(b)       The BSI Shareholders consent to, and will assist Meridex with, the filing by Meridex from time to time of any reports or other documents required by the CSE or any
securities commission or similar regulatory authority with respect to the issuance of Meridex Shares pursuant to this Agreement or any matter provided for herein.

Escrow, Protection of Corporate Interests and other
Agreements

(c)       The BSI
Shareholders will each execute and deliver to Meridex such agreements and documents, and take such further action, as may reasonably be required by Meridex or the CSE to give effect to the Acquisition or any matter provided for herein. Without
limiting the foregoing, each BSI Shareholders will each execute and deliver to Meridex

 
 

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the Escrow Agreement and a protection of corporate interest
agreement (the “Protection of Corporate Interest Agreement”) substantially in the form set out on Schedule 7.1(c). 

Power of Attorney

(d)       The BSI Shareholders hereby irrevocably authorize BSI:

(i)       to act as their representatives at the Closing and to execute in each of their names and on their behalf all closing receipts and documents required;

(ii)       to complete or correct any errors or omissions in or to make non-material amendments, modifications or supplements to any form or document, including this Agreement,
provided by the BSI Shareholders;
 (iii)       to receive on each of their behalf certificates representing the Meridex Shares purchased under this Agreement;

(iv)       to approve any opinions, certificates or other documents addressed to the BSI Shareholders;

(v)       to waive, in whole or in part, any representations, warranties, covenants or conditions for the benefit of the BSI Shareholders and contained in this Agreement, including
without limitation under §14.11, or any of the Ancillary Agreements to which either of the BSI Shareholders is a party; and

(vi)       to exercise any rights of termination contained in this Agreement or any of the Ancillary Agreements to which either of the BSI Shareholders is a party, including without
limitation under Article 12.
 ARTICLE
8
 COVENANTS OF MERIDEX

Covenants of Meridex

8.1       Meridex hereby covenants and agrees with BSI as follows:

Investigations and Availability of
Records

(a)       BSI and its
directors, officers, auditors, counsel and other authorized representatives will be permitted to make such commercially reasonable investigations of the property, assets and business of Meridex and of its financial and legal condition as BSI
reasonably deems necessary or desirable, provided that such investigations will not unduly interfere with the operations of Meridex. If reasonably requested, Meridex will provide copies of Meridex’s corporate records, including its minute
books, share ledgers and the records maintained in connection with the business of Meridex. Such investigations will not, however, affect or mitigate in any way the representations and

 
 

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warranties contained in this Agreement, which
representations and warranties will continue in full force and effect for the benefit of BSI.

Necessary Consents

(b)       Meridex will use commercially reasonable efforts to obtain from Meridex’s directors, shareholders and all appropriate Governmental Entities such approvals or consents
as are required (if any) to complete the transactions contemplated herein.

		Confidentiality	

		(c)	(i) Meridex will keep confidential any confidential information, trade secrets or confidential financial or
business documents (collectively the “BSI Information”) received by it from BSI concerning BSI or its business and will not disclose such Information to any third party; provided that any of such BSI Information may be disclosed
to Meridex’s directors, officers, employees, representatives and professional advisors who need to know such BSI Information in connection with the transactions contemplated hereby (provided Meridex will use all reasonable efforts to ensure
that such directors, officers, employees, representatives and professional advisors keep confidential such BSI Information) and provided further that Meridex will not be liable for disclosure of BSI Information upon the occurrence of one or more of
the following events:

 (A)       BSI Information becoming generally known to the public other than through a breach of this Agreement;

(B)       BSI Information being lawfully obtained by Meridex from a third party or parties without breach of this Agreement by Meridex, as shown by documentation sufficient to
establish the third party as a source of BSI Information;

(C)       BSI Information being known to Meridex prior to disclosure by BSI, or its Affiliates, as shown by documentation sufficient to establish such knowledge; or

(D)       BSI having provided its prior written approval for such disclosure by Meridex.

(ii) In the event this Agreement is terminated in accordance
with the provisions hereof, Meridex will:
 (A)
      use all reasonable efforts to ensure that all documents prepared or obtained in the course of its investigations of BSI or its business and all copies thereof (except for copies that are maintained for archival
purposes) are either destroyed or returned to BSI so as to insure that, so far as possible, any BSI Information obtained during and as a result of such investigations by the directors, officers, employees, representatives and 

 
 

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 professional advisors of Meridex is not disseminated beyond those individuals concerned with such investigations; and

(B)       not directly or
indirectly, use for its own purposes, any BSI Information, discovered or acquired by the directors, officers, employees, representatives and professional advisors of Meridex as a result of BSI making available to them those documents and assets
relating to the business of BSI.
 Approval of
Acquisition and Name Change
 (d)       Meridex will use commercially reasonable efforts to obtain the approval of the CSE and any Regulatory Approvals for the Acquisition and the Name Change.

Status and Filings

(e)       Meridex will maintain its corporate status and comply with all applicable corporate and securities requirements (including any applicable filing requirements) prior to
Closing.
 Material Change

(f)       Meridex agrees to conduct its business in the ordinary course prior to closing and to provide prompt and full disclosure to BSI of any material information, change or event
in the business, operations, financial condition or other affairs of Meridex prior to Closing.

Supplements to the CSE Listing
Statement
 (g)       Meridex will prepare any supplements or amendments to the CSE Listing Statement that may be required to be filed in connection with the transactions contemplated
herein.
 Compliance with
Laws
 (h)       Meridex will not do any act or take any steps that would be in violation or contrary to the Securities Act or any other applicable Laws in any material respect.

All Other Actions

(i)       Meridex will use commercially reasonable efforts to satisfy each of the conditions precedent set out in this Agreement to be satisfied by it as soon as practical and in any
event before the Closing Date, and to take, or cause to be taken, all other actions and to do, or cause to be done, all other things necessary, proper or advisable that are commercially reasonable to permit the completion of the Acquisition in
accordance with the terms and conditions of this Agreement and applicable Laws.
  

 
 

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 ARTICLE 9

INDEMNIFICATION

Mutual Indemnifications for Breaches of Warranty

9.1       Subject to §9.2, Meridex hereby covenants and agrees with each of BSI and the BSI Shareholders, and each of BSI and the BSI Shareholders hereby jointly and severally
covenants and agrees with Meridex, (the Parties covenanting and agreeing to indemnify another Party under this section are hereinafter individually referred to as the “Indemnifying Party” and the Party being indemnified by another
Party under this §9.1 are hereinafter individually referred to as the “Indemnified Party”) to indemnify and save harmless the Indemnified Party from and against any claims which may be made or brought against the Indemnified
Party or which it may suffer or incur as a result of, or arising out of any non-fulfillment of any covenant or agreement on the part of the Indemnifying Party under this Agreement or any Ancillary Agreement or any incorrectness in or breach of any
representation or warranty of the Indemnifying Party contained in this Agreement or any Ancillary Agreement.

Limitation on Mutual Indemnification

9.2       The indemnification obligations of each of the Parties pursuant to §9.1 will be subject to the following:

(a)       the applicable limitation mentioned in Article 5 respecting the survival of the representations and warranties; and

(b)       an Indemnifying Party will not be required to indemnify an Indemnified Party until the aggregate claims sustained by that Indemnified Party exceeds a value of $5,000, in
which case, the Indemnifying Party will be obligated to the Indemnified Party for all claims.

Procedure for Indemnification

9.3       The following provisions will apply to any Claims for which an Indemnifying Party may be obligated to indemnify an Indemnified Party pursuant to this Agreement:

(a)       upon receipt from a third party by the Indemnified Party of notice of a claim or the Indemnified Party becoming aware of a claim in respect of which the Indemnified Party
proposes to demand indemnification from the Indemnifying Party, the Indemnified Party will give notice to that effect to the Indemnifying Party with reasonable promptness, provided that failure to give such notice will not relieve the Indemnifying
Party from any liability it may have to the Indemnified Party except to the extent that the Indemnifying Party is prejudiced thereby;

(b)       in the case of
Claims arising from third parties, the Indemnifying Party will have the right by notice to the Indemnified Party not later than 30 days after receipt of the notice described in §9.3(a) above to assume the control of the defense, compromise or
settlement of the claims, provided that such assumption will, by its terms, be without 

 
 

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 costs to the Indemnified Party and the Indemnifying Party will at the Indemnified Party’s request furnish it with reasonable security against any costs or other liabilities to which it may be or become exposed
by reason of such defense, compromise or settlement;

(c)       upon the assumption of control by the Indemnifying Party as aforesaid, the Indemnifying Party will diligently proceed with the defense, compromise or settlement of the
claims at its sole expense, including employment of counsel reasonably satisfactory to the Indemnified Party and, in connection therewith, the Indemnified Party will co-operate fully, but at the expense of the Indemnifying Party, to make available
to the Indemnifying Party all pertinent information and witnesses under the Indemnified Party’s control, make such assignments and take such other steps as in the opinion of counsel for the Indemnifying Party are necessary to enable the
Indemnifying Party to conduct such defense; provided always that the Indemnified Party will be entitled to reasonable security from the Indemnifying Party for any expense, costs or other liabilities to which it may be or may become exposed by reason
of such co-operation;
 (d)       the final determination of any such claims arising from third parties, including all related costs and expenses, will be binding and conclusive upon the Parties as to the
validity or invalidity, as the case may be, of such claims against the Indemnifying Party hereunder; and

(e)       should the Indemnifying Party fail to give notice to the Indemnified Party as provided in §9.3(b) above, the Indemnified Party will be entitled to make such settlement
of the claims as in its sole discretion may appear reasonably advisable, and such settlement or any other final determination of the claims will be binding upon the Indemnifying Party.

ARTICLE 10

CONDITIONS PRECEDENT

Mutual Conditions Precedent

10.1       The transactions contemplated herein are subject to the following conditions to be

fulfilled or performed on or prior to the Closing Date, which
conditions are for the mutual benefit of both Meridex and the BSI Shareholders, and may be waived by Meridex and the BSI Shareholders, in writing:

(a)       all required approvals, consents and authorizations of third parties in respect of the transactions contemplated herein, including without limitation all necessary
shareholder and Regulatory Approvals, will have been obtained on terms acceptable to Meridex and the BSI Shareholders acting reasonably;

(b)       the CSE will have conditionally approved the Acquisition;

(c)       there will not
be in force any injunction, order or decree which constitutes or if this Acquisition was consummated would constitute a material adverse effect;

 
 

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(d)       all items required by the CSE in respect of the transactions contemplated herein will have been obtained, including, if applicable, shareholder approvals; and

(e)       there will not exist any prohibition or law against the completion of the Acquisition and there will not be enacted, promulgated or applied any Governmental Order to enjoin,
prohibit or impose any material limitations or conditions on the Acquisition.
 Conditions for the Benefit of Meridex

10.2       The transactions contemplated herein are subject to the following conditions to be fulfilled or performed on or prior to the Closing Date, which conditions are for the
exclusive benefit of Meridex and may be waived, in whole or in part, by Meridex in its sole discretion:

 

(a)       the representations and warranties of BSI and the BSI Shareholders contained in this Agreement or in any Ancillary Agreement will have been true and correct as of the date
of this Agreement and will be true and correct as of the Closing Date with the same force and effect as if such representations and warranties had been made on and as of the Closing Date, save and except in any case which would not have a material
adverse effect;
 (b)       BSI and the BSI Shareholders will have performed, fulfilled or complied with, in all material respects, all of its obligations, covenants and agreements contained in this
Agreement and in any Ancillary Agreement to be fulfilled or complied with by BSI and the BSI Shareholders at or prior to the Closing Date;

(c)       Each of the BSI Shareholders will have entered into the Escrow Agreement and a Protection of Corporate Interests Agreement, and Sazzad will have entered into an employment
agreement with Meridex;
 (d)       BSI will have settled, in exchange for BSI Shares, all shareholders loans of BSI and debt owed to any related party of BSI;

(e)       other than Indebtedness of BSI to Meridex, BSI will not have incurred or guaranteed any Indebtedness without Meridex’s prior written consent, which consent will not be
unreasonably withheld;
 (f)       BSI will not have entered into any material agreements with any third party other than Meridex after the date of this Agreement without Meridex’s prior written
consent, which consent will not be unreasonably withheld;

(g)       Meridex will be satisfied, in its sole discretion acting reasonably, as to the results of its due diligence investigation of BSI’ business and financial
matters;

(h)       Meridex will
have received a certificate of BSI addressed to Meridex and dated the Closing Date, signed on behalf of BSI by a senior executive officer of BSI, confirming that the conditions in § 10.2(a), (b), (d), (e), (f), 10.2(j), and (k) have been
satisfied;

 
 

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(i)       legal opinions as customarily provided in transactions similar to the Acquisition, from legal counsel for BSI and the BSI Shareholders dated the Closing Date and in a form
satisfactory to Meridex and its counsel, acting reasonably, will have been received by Meridex at the Closing;

(j)       no action or proceeding will be pending or threatened by any Person (other than Meridex) in any jurisdiction, to enjoin, restrict or prohibit any of the transactions
contemplated by this Agreement or the right of BSI to conduct its business after the Closing Date on substantially the same basis as operated immediately prior to the date hereof and no action, suit or legal proceeding will have been taken before or
by any Governmental Entity or by any Person that would, if successful, have a material adverse effect on BSI; and

(k)       since the date of this Agreement, there will have been no material adverse effect with respect to BSI, or any event, occurrence or development, including the commencement of
any action, suit or other legal proceeding which would reasonably be expected to have a material adverse effect on BSI.

Conditions for the Benefit of BSI Shareholders

10.3       The transactions contemplated herein are subject to the following conditions to be fulfilled or performed on or prior to the Closing Date, which conditions are for the
exclusive benefit of the BSI Shareholders and may be waived, in whole or in part, by the BSI Shareholders in their sole discretion:

 

(a)       the representations and warranties of Meridex contained in this Agreement or in any Ancillary Agreement will have been true and correct as of the date of this Agreement and
will be true and correct as of the Closing Date with the same force and effect as if such representations and warranties had been made on and as of such Closing Date, save and except in any case which would not have a material adverse effect on
Meridex;
 (b)       Meridex will have performed, fulfilled or complied with, in all material respects, all of its obligations, covenants and agreements contained in this Agreement and in any
Ancillary Agreement to be fulfilled or complied with by Meridex at or prior to the Closing Date;

(c)       the BSI Shareholders will have received a certificate of Meridex addressed to the BSI Shareholders and dated the Closing Date, signed on behalf of Meridex by a senior
executive officer of Meridex, confirming that the conditions in § 10.3(a) and (b) have been satisfied.

 
 

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ARTICLE 11

CLOSING

Time of Closing

11.1       The Closing of the transactions contemplated herein will be completed at the offices of McMillan LLP, Suite 1500, 1055 West Georgia Street Vancouver, British Columbia, V6E
4N7, at 10:00 a.m. (Vancouver time) on the Closing Date, or at such other time and place as may be mutually agreed upon by the Parties hereto.

 

ARTICLE 12

TERMINATION

Termination by Meridex

12.1       If any of the conditions set forth in §10.1 or §10.2 have not been fulfilled or waived at or prior to the Closing Date or any obligation or covenant of BSI or the
BSI Shareholders to be performed at or prior to the Closing Date has not been observed or performed by such time, Meridex may terminate this Agreement by notice in writing to BSI (which will constitute notice in writing to the BSI Shareholders), and
in such event Meridex will be released from all obligations hereunder save and except for its obligations under Article 9 and §8.1(c) and §13.1, which will survive. If Meridex waives compliance with any of the conditions, obligations or
covenants contained in this Agreement, the waiver will be without prejudice to any of its rights of termination in the event of non-fulfilment, non-observance or non-performance of any other condition, obligation, or covenant in whole or in
part.
 Termination by BSI

12.2       If any of the conditions set forth in §10.1 or §10.3 have not been fulfilled or waived at or prior to Closing Date or any obligation or covenant of Meridex to be
performed at or prior to the Closing Date has not been observed or performed by such time and such failure is not as a result of a material breach of any provision of this Agreement or default of a covenant or obligation hereunder by BSI, BSI may
terminate this Agreement by notice in writing to Meridex, and in such event BSI and the BSI Shareholders will be released from all obligations hereunder save and except for their obligations under Article 9 and §6.1(c) and §13.1, which
will survive. If BSI (on its own behalf and on behalf of the BSI Shareholders) waives compliance with any of the conditions, obligations or covenants contained in this Agreement, the waiver will be without prejudice to any of their rights of
termination in the event of non-fulfilment, non-observance or non-performance of any other condition, obligation or covenant in whole or in part.

Other Termination Rights

12.3       This Agreement
may, by notice in writing given prior to or on the Closing Date, be terminated:

 
 

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(a)       by mutual consent of Meridex and BSI; and

(b)       by either Meridex or BSI if the Acquisition is not consummated by September 30, 2014 or such other date as may be agreed to by Meridex and BSI, provided that no Party may
terminate this Agreement under this § 12.3(b) if such party is in a material breach of any provision of this Agreement or otherwise in default of a covenant or obligation hereunder;

and, in such event, each Party will be released from all
obligations under this Agreement, save and except for its obligations, if any, under Article 9 and §6.1(c), §8.1(c) and §13.1, which will survive.

Effect of Termination

12.4       Each Party’s right of termination under this Article 12 is in addition to any other rights it may have under this Agreement or otherwise, and the exercise of a right
of termination will not be an election of remedies. Nothing in Article 12 will limit or affect any other rights or causes of action the Parties may have with respect to the representations, warranties, covenants and indemnities in its favour
contained in this Agreement.
  
 ARTICLE 13

EXPENSES

Responsibility for Own Costs

13.1       Each Party will be responsible for its own legal and audit fees and other charges incurred in connection with the preparation of
this Agreement, all negotiations between the Parties and the consummation of the transactions contemplated hereby.

 

ARTICLE 14

GENERAL

Public Announcement

14.1       No party to this Agreement will make any press release, public announcement or public statement about the transactions contemplated herein which has not been previously
approved by the other, except that either party may make a press release or filing with a regulatory authority if counsel for such party advises that such press release or filing is necessary, in which case such party will first make a reasonable
effort to obtain the approval of the other. Notwithstanding the foregoing, immediately after the execution of this Agreement, BSI and Meridex will issue a joint public announcement, announcing the entering into of this Agreement, which announcement
will address all matters required by the policies of the CSE and applicable Laws and will be in form and substance acceptable to each of them, acting in a 

 
 

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 commercially reasonable manner. No Party will issue any news release or public statements inconsistent with such public announcement.

Independent Legal Advice

14.2       Each of the Parties acknowledges that it has read, understands and agrees with all of the provisions of this Agreement and acknowledges that he has had the opportunity to
obtain independent legal advice with respect thereto.

Entire Agreement

14.3       This Agreement, the Ancillary Agreements and the schedules referred to herein constitute the entire agreement among the Parties hereto and supersede all prior agreements,
representations, warranties, statements, promises, information, arrangements and understandings, whether oral or written, express or implied, with respect to the subject matter hereof. None of the Parties hereto will be bound or charged with any
oral or written agreements, representations, warranties, statements, promises, information, arrangements or understandings not specifically set forth in this Agreement or in the schedules, documents and instruments to be delivered on the Closing
Date pursuant to this Agreement. The Parties hereto further acknowledge and agree that, in entering into this Agreement and in delivering the schedules, documents and instruments to be delivered on the Closing Date, they have not in any way relied,
and will not in any way rely, upon any oral or written agreements, representations, warranties, statements, promises, information, arrangements or understandings, express or implied, not specifically set forth in this Agreement or in such schedules,
documents or instruments.
 Further
Assurances
 14.4       Each of the Parties hereto will from time to time after the Closing Date at the other’s request and expense and without further consideration, execute and deliver such
other instruments of transfer, conveyance and assignment and take such further action as the other may reasonably require to give effect to any matter provided for herein.

Severability

14.5       In the event that any provision or part of this Agreement is determined by any court or other judicial or administrative body to be illegal, null, void, invalid or
unenforceable, that provision will be severed to the extent that it is so declared and the other provisions of this Agreement will continue in full force and effect.

Applicable Law

14.6       This Agreement will be governed by and construed in accordance with the laws of the Province of British Columbia and the federal laws of Canada applicable
therein.
 Attornment

14.7       The Parties
hereby irrevocably and unconditionally consent to and submit to the exclusive jurisdiction of the courts of the Province of British Columbia for any actions, suits or 

 
 

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 proceedings arising out of or relating to this Agreement or the matters contemplated hereby. The Parties hereby irrevocably and unconditionally waive any objection to the laying of venue of any action, suit or
proceeding arising out of this Agreement or the matters contemplated hereby in the courts of the Province of British Columbia and hereby further irrevocably and unconditionally waive and agree not to plead or claim in any such applicable courts, as
the case may be, that any such action, suit or proceeding so brought has been brought in an inconvenient forum.

Successors and Assigns

14.8       This Agreement will accrue to the benefit of and be binding upon each of the Parties hereto and their respective heirs, executors, administrators and assigns, provided that
this Agreement will not be assigned by any one of the Parties without the prior written consent of the other Party.

Time of Essence

14.9       Time will be of the essence hereof.

Notices

14.10       Any notice required or permitted to be given hereunder will be in writing and will be effectively given if (i) delivered personally, (ii) sent prepaid courier service or
mail, or (iii) sent prepaid by facsimile transmission or other similar means of electronic communication (confirmed on the same or following day by prepaid mail) addressed as follows:

(a)          in the
case of notice to Meridex:
 Meridex

Terese Gieselman

Attention: Chief Financial Officer

Tel:1-250-768-0009

Email: tgieselman.minco@telus.net

in the case of notice to BSI, the BSI Shareholders:

Glen Harder

Tel: 604-682-4466

Email: gharder@har-law.com

Any notice, designation, communication, request, demand or
other document given or sent or delivered as aforesaid will: (i) if delivered as aforesaid, be deemed to have been given, sent, delivered and received on the date of delivery; (ii) if sent by mail as aforesaid, be deemed to have been given, sent,
delivered and received (but not actually received) on the fourth Business Day following the date of mailing, unless at any time between the date of mailing and the fourth

 
 

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Business Day thereafter there is a discontinuance or
interruption of regular postal service, whether due to strike or lockout or work slowdown, affecting postal service at the point of dispatch or delivery or any intermediate point, in which case the same will be deemed to have been given, sent,
delivered and received in the ordinary course of the mail, allowing for such discontinuance or interruption of regular postal service; and (iii) if sent by facsimile machine, be deemed to have been given, sent, delivered and received on the date the
sender receives the facsimile machine answer back confirming receipt by the recipient.
 Waiver

14.11       Any Party hereto which is entitled to the benefits of this Agreement may, and has the right to, unless otherwise provided, waive any term or condition hereof at any time on
or prior to the Closing Date, provided however that such waiver will be evidenced by written instrument duly executed on behalf of such Party.

Amendments

14.12       No amendment, modification or supplement to this Agreement will be effective unless provided in writing and signed by all the Parties hereto and approved by all necessary
governmental regulatory authorities.
 Remedies
Cumulative
 14.13       The rights and remedies of the Parties under this Agreement are cumulative and in addition to and not in substitution for any rights or remedies provided by law. Any single
or partial exercise by any Party hereto of any right or remedy for default or breach of any term, covenant or condition of this Agreement does not waive, alter, affect or prejudice any other right or remedy to which such Party may be lawfully
entitled for the same default or breach. 

Counterparts

14.14       This Agreement may be executed in several counterparts (by original or facsimile signature), each of which when so executed will be deemed to be an original and each of such
counterparts, if executed by each of the Parties, will constitute a valid and enforceable agreement among the Parties.

 
 

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IN WITNESS WHEREOF this agreement has been executed by
the Parties hereto as of the date first above written.

 
  

 
	 

 
	 

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IN WITNESS WHEREOF this
agreement has been executed by the Parties hereto as of the date first above written.

 

 
	 

 
	 

  

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IN WITNESS WHEREOF this agreement has been executed by the
Parties hereto as of the date first above written.
  

 
	 

 
	 

 SCHEDULE A

LIST OF BSI SHAREHOLDERS AND
 THEIR RESPECTIVE
SHAREHOLDINGS IN BSI

	Shareholder	Number of BSI Shares
	Nick Brusatore	50
	Dr. Sazzad Hossain	35
	Dr. Hyder A. Khoja	15

 
  
  
  

 
  
  

 
 

 

 SCHEDULE 4.1(e)

LIST OF BSI ASSETS

 

 

 
 

 

  

 

SCHEDULE 4.1(q)

LIST OF MATERIAL CONTRACTS OF BSI

 

 

N/A 

 

 

 
	 

 
	 

 SCHEDULE 7.1(c)

PROTECTION OF CORPORATE INTEREST

 

 

u

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