Document:

Exhibit 10.1

 

AMALGAMATION AGREEMENT

 

THIS AMALGAMATION AGREEMENT made as of the 30th
day of March, 2016.

 

BETWEEN:

 

WISE OAKWOOD VENTURES INC., a corporation
existing under the laws of Alberta ("WOW");

 

-and-

 

9674128 CANADA INC., a corporation existing
under the federal laws of Canada ("WOW Sub");

 

-and-

 

ZOMEDICA PHARMACEUTICALS INC., a corporation
existing under the federal laws of Canada ("ZoMedica");

 

WHEREAS WOW and ZoMedica are parties to a Letter of Intent
dated November 23, 2015;

 

AND WHEREAS ZoMedica and WOW Sub have agreed to amalgamate
pursuant to section 181 of the Canada Business Corporations Act, and in consideration therefore WOW has agreed to issue
certain of its securities to the securityholders of ZoMedica;

 

NOW THEREFORE THIS AGREEMENT WITNESSES THAT in consideration
of the mutual covenants and agreements herein contained and for other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties hereto agree with each other as follows:

 

Article
I

DEFINITIONS

 

1.1               
Definitions. In this Agreement, unless there is something in the context or subject matter inconsistent therewith,
the following words and terms set forth in this Article I shall have the following meanings:

 

		(a)	"Act" means the Canada Business Corporations Act, as it may be amended
from time to time, and any successor thereto;

 

		(b)	"Affiliate" means an affiliated body corporate within the meaning of the Act;

 

		(c)	"Agreement" means this Agreement and all instruments supplemental hereto or in
amendment or confirmation hereof; "herein", "hereof" and similar expressions mean and refer to this Agreement
and not to any particular article, section, clause or subclause; and "Article", "Section", "clause"
or "subclause" means and refers to the specified article, section, clause or subclause of this Agreement;

 

		(d)	"Amalco" means the continuing corporation pursuant to the Act to be constituted
upon completion of the Amalgamation to be named "Zomedica Pharmaceuticals Inc.", or such other name as shall be determined
in the sole discretion of ZoMedica;

 

		(e)	"Amalco Share" means a common share in the capital of Amalco as presently constituted;

 

		(f)	"Amalgamating Corporations" means, collectively, ZoMedica and WOW Sub;

 

		(g)	"Amalgamation" means the amalgamation of ZoMedica and WOW Sub pursuant to this
Agreement and in accordance with the Act;

 

     

     

    

		(h)	"Arm's Length" has the same meaning ascribed thereto in the Tax Act;

 

		(i)	"Articles of Amalgamation" means the proposed articles of amalgamation in respect
to the Amalgamation as set forth in Schedule "A" hereto;

 

		(j)	"Business Day" means a day other than a Saturday or Sunday on which the principal
commercial banks located in Calgary, Alberta, are open for business during normal banking hours;

 

		(k)	"Closing" or "Closing Date" means the completion of the Amalgamation
as set forth herein, including the issuance of WOW Securities described herein, which is intended to take place on the Effective
Date;

 

		(l)	"CPC" means a capital pool company listed on the TSXV;

 

		(m)	"CPC Filing Statement" means the CPC Filing Statement of the CPC which shall be
prepared in accordance with the TSXV Form of Filing Statement (Form 3B2) and which shall provide full, true and plain disclosure
of all Material Facts relating to WOW, ZoMedica and the Amalgamation;

 

		(n)	"Consolidation" means the consolidation of the WOW Shares on a two and one-half
(21⁄2) pre-consolidated share for one (1) post-consolidated share basis;

 

		(o)	"Deposit" means the deposit of $50,000 that has been delivered by ZoMedica to
WOW's legal counsel, which shall be held and delivered in accordance with Article VII of this Agreement;

 

		(p)	"Effective Date" means the date of Amalgamation as set forth in the certificate
of amalgamation for Amalco;

 

		(q)	"Founders' Shares Transfer Agreement" means an agreement among the current directors
of WOW to sell an aggregate of 2,000,000 WOW Shares at a price of $0.10 (pre-Consolidation) to ZoMedica or the nominees thereof;

 

		(r)	"IFRS" means the International Financial Reporting Standards as adopted by the
International Accounting Standards Board;

 

		(s)	"Material Adverse Effect" means, when used in connection with a company, any change
or effect (or any condition, event or development involving a prospective change or effect) in or on the business, operations,
results of operations, assets, capitalization, financial condition, licenses, permits, concessions, rights or liabilities, whether
contractual or otherwise, of the company, taken as a whole, and which change or effect may reasonably be expected to significantly
reduce the value of the equity securities of the company other than a change or effect: (i) which arises out of a matter that has
been publicly disclosed or otherwise disclosed in writing by the company to the other party prior to the date hereof; (ii) resulting
from conditions affecting the mining industry as a whole; or (iii) resulting from general economic, financial, currency exchange,
securities or commodity market conditions (including without limitation commodity prices, changes in taxation laws or currency
exchange rates);

 

		(t)	"Material Fact" in relation to any party hereto includes, without limitation,
any fact that significantly affects, or would reasonably be expected to have a significant effect on, the market price or value
of the shares of such party;

 

		(u)	"Name Change" means the change of name of WOW to "Zomedica Pharmaceuticals
Corp.", effective upon completion of the Amalgamation;

 

		(v)	"Person" means any individual, corporation, partnership, unincorporated syndicate,
unincorporated organization, trust, trustee, executor, administrator or other legal representative;

 

    	- 2 -

     

    

		(w)	"Private Placement" means a private placement by ZoMedica of ZoMedica Shares at
a price of $0.25 per ZoMedica Share for aggregate gross proceeds of not less than $2,000,000, or such other amount as may be necessary
to satisfy the initial listing requirements of the TSXV pursuant to Policy 2.4 of the TSXV Corporate Finance Manual;

 

		(x)	"Resulting Issuer" refers to WOW after completion of the Amalgamation and all
matters contemplated herein, including but not limited to the Name Change and Consolidation;

 

		(y)	"Resulting Issuer Broker Warrants" means the WOW Broker Warrants, after giving
effect to the Name Change and Consolidation;

 

		(z)	"Resulting Issuer Options" means those options granted by the Resulting Issuer
to holders of ZoMedica Options upon closing of the Amalgamation in exchange for such ZoMedica Options, on the same terms and subject
to the same conditions as the ZoMedica Options, in addition to the WOW Options, after giving effect to the Name Change and Consolidation;

 

		(aa)	"Resulting Issuer Shares" means common shares in the capital of the Resulting
Issuer, after giving effect to the Name Change, the Consolidation and the Amalgamation;

 

		(bb)	"Securities Acts" means collectively the Securities Act (British Columbia)
and the Securities Act (Alberta), as may be amended from time to time, and any successors thereto;

 

		(cc)	"Tax Act" means the Income Tax Act (Canada), as it may be amended from
time to time, and any successor thereto. Any reference herein to a specific section or sections of the Tax Act, or regulations
promulgated thereunder, shall be deemed to include a reference to all corresponding provision of future law;

 

		(dd)	"Tax Laws" shall mean the Tax Act and any applicable provincial, or foreign income
taxation statute(s), as from time to time amended, and any successors thereto;

 

		(ee)	"Third Party" means any Person other than the parties to this Agreement;

 

		(ff)	"TSXV" or the "Exchange" means the TSX Venture Exchange;

 

		(gg)	"Transaction(s)" means the Amalgamation and related transactions concerning the
business combination of WOW and ZoMedica as contemplated in this Agreement;

 

		(hh)	"United States" means the United States of America, its territories and possessions,
any State of the United States and the District of Columbia;

 

		(ii)	"WOW" means Wise Oakwood Ventures Inc., a corporation existing under the laws
of Alberta;

 

		(jj)	"WOW Broker Warrants" means the broker warrants of WOW issued to WOW's agent upon
completion of its initial public offering as set out in Schedule "B" hereto, each such warrant being exercisable into
one (1) WOW Share at a price of $0.10 per WOW Share;

 

		(kk)	"WOW Options" means the incentive stock options issued by WOW as set out in Schedule
"B" hereto, each such option being exercisable into one WOW Share at an exercise price of $0.10 per share;

 

		(ll)	"WOW Securities" means, collectively, WOW Shares, WOW Options and WOW Broker Warrants;

 

		(mm)	"WOW Shares" means the fully paid and non-assessable common shares in the capital
of WOW prior to Consolidation;

 

    	- 3 -

     

    

		(nn)	"WOW Sub" means 9674128 Canada Inc., a corporation existing under the federal
laws of Canada;

 

		(oo)	"WOW Sub Share" means a common share in the capital of WOW Sub as presently constituted;

 

		(pp)	"WOW's Auditors" means Saturna Group Chartered Accountants LLP, whose principal
office is located at Vancouver, British Columbia;

 

		(qq)	"WOW's Business" means operating as a CPC;

 

		(rr)	"WOW's Financial Statements" means the audited financial statements of WOW for
the fiscal years ended February 28, 2015 and 2014, consisting of the statements of financial position, operations and comprehensive
loss, changes in equity and cash flows and all notes thereto and the unaudited interim financial statements of WOW as at and for
the nine-month period ended November 30, 2015, consisting of the condensed interim statements of financial position, operations
and comprehensive loss, changes in equity and cash flows and all notes thereto;

 

		(ss)	"ZoMedica" means ZoMedica Pharmaceuticals Inc., a private corporation existing
under the federal laws of Canada;

 

		(tt)	"ZoMedica Options" means the stock options issued by ZoMedica to certain of its
officers, directors, employees and consultants, exercisable into ZoMedica Shares, as further described in Schedule "C"
hereto;

 

		(uu)	"ZoMedica Shareholders" means all of the holders of ZoMedica Shares;

 

		(vv)	"ZoMedica Shares" means the fully paid and non-assessable common shares in the
capital of ZoMedica;

 

		(ww)	"ZoMedica Subsidiary" means ZoMedica Pharmaceuticals Inc. (Delaware);

 

		(xx)	"ZoMedica's Assets" means all of ZoMedica's material assets including: (i) the
rights, privileges and benefits arising under ZoMedica's material contracts; (ii) all of ZoMedica's intellectual property, tangible
and intangible property, business plans and concepts, business development work and all of its property, interests, claims, rights
and entitlements; (iii) all of the shares of the ZoMedica Subsidiary; and (iv) those assets set out in ZoMedica's Financial Statements;

 

		(yy)	"ZoMedica's Business" means the veterinary pharmaceutical business previously
and heretofore carried on and proposed to be carried on by ZoMedica and ZoMedica Subsidiary; and

 

		(zz)	"ZoMedica's Financial Statements" means the audited consolidated financial statements
of ZoMedica as at and for the fiscal year ended December 31, 2015, consisting of the consolidated statements of financial position,
operations and comprehensive loss, changes in equity and cash flows and all notes thereto.

 

1.2               
Currency. Unless otherwise indicated, all dollar amounts referred to in this Agreement are in Canadian funds.

 

1.3               
Tender. Any tender of documents or money hereunder may be made upon the parties or their respective counsel and money
may be tendered by bank draft or by certified cheque.

 

1.4               
Number and Gender. Where the context requires, words imparting the singular shall include the plural and vice versa,
and words imparting gender shall include all genders.

 

    	- 4 -

     

    

1.5               
Headings. Article and Section headings contained in this Agreement are included solely for convenience, are not intended
to be full or accurate descriptions of the content thereof and shall not be considered part of this Agreement or affect the construction
or interpretation of any provision hereof.

 

1.6               
Schedules. The Schedules to this Agreement shall be construed with and be considered an integral part of this Agreement
to the same extent as if the same had been set forth verbatim herein. The following Schedules are attached hereto:

 

	Schedule "A"	Articles of Amalgamation
	Schedule "B"	WOW Securities
	Schedule "C"	ZoMedica Securities
	Schedule "D"	Material Contracts of ZoMedica
	Schedule "E"	ZoMedica Shareholders in the United States

 

1.7               
Accounting Terms. All accounting terms not specifically defined herein shall be construed in accordance with Generally
Accepted Accounting Principles.

 

Article
II

AMALGAMATION

 

2.1               
Agreement to Amalgamate. The Amalgamating Corporations do hereby agree to amalgamate pursuant to the provisions of
Section 181 of the Act as of the Effective Date and to continue as one corporation on the terms and conditions set out in this
Agreement.

 

2.2               
Name. The name of Amalco shall be "Zomedica Pharmaceuticals Ltd.", or such other similar name as the directors,
in their discretion determine.

 

2.3               
Registered Office. The registered office of Amalco shall be Suite 1250, 639 – 5th Avenue S.W., Calgary,
Alberta T2P 0M9.

 

2.4               
Authorized Capital. Amalco shall be authorized to issue one class of shares consisting of an unlimited number of
shares to be designated as "common voting shares" which shall have the rights, privileges, restrictions and conditions
set forth in the Articles of Amalgamation, set forth in Schedule "A" hereto.

 

2.5               
Fiscal Year End. The fiscal year end of Amalco shall be December 31, subject to receipt of all necessary regulatory
approval.

 

2.6               
Number of Directors. The board of directors of Amalco shall, until otherwise changed in accordance with the Act,
consist of a minimum number of one (1) and a maximum number of ten (10) directors.

 

2.7               
Business. There shall be no restrictions on the business which Amalco is authorized to carry on.

 

2.8               
Initial Directors. The first directors of Amalco shall be the persons whose names and residential addresses appears
below:

 

    	- 5 -

     

    

	Name	Address	Resident Canadian
	Gerald Solensky	
        [address omitted for privacy considerations]
	No
	James Lebar	
        [address omitted for privacy considerations]
	Yes

 

Such directors shall hold office until the next
annual meeting of shareholders of Amalco or until their successors are elected or appointed.

 

2.9               Amalgamation.
On the Effective Date, subject to Article III of this Agreement, the issued ZoMedica Shares and other securities of ZoMedica
held by securityholders thereof will be cancelled and such securityholders of ZoMedica shall receive securities of the Resulting
Issuer as set forth in Article III. The property of each of WOW Sub and ZoMedica shall continue to be the property of Amalco and
Amalco shall continue to be liable for the obligations of each of WOW Sub and ZoMedica.

 

2.10            
By-Laws. The by-laws of Amalco, until repealed, amended or altered, shall be the by-laws of ZoMedica.

 

2.11            
Filing of Documents. Upon the shareholders of each of the Amalgamating Corporations approving this Agreement by special
resolution in accordance with the Act, the Amalgamating Corporations shall jointly file with the Director, under the Act, Articles
of Amalgamation and such other documents as may be required.

 

2.12            
Stated Capital. The stated capital of Amalco immediately after the Amalgamation becomes effective shall be equal
to the aggregate stated capital of each of the Amalgamating Corporations.

 

2.13            
Amendments to Structure. Notwithstanding the foregoing, the parties hereto agree that the foregoing structure for
the Amalgamation may be amended to accommodate certain tax planning and operational efficiencies of either party provided that
such amendments shall not have a detrimental effect on either party and shall not negatively impact the business combination of
WOW and ZoMedica evidenced hereby. In no event shall the structure be amended unless such amendment is permitted by the rules and
policies of the TSXV.

 

Article
III

ISSUANCE OF AMALCO AND THE RESULTING ISSUER SECURITIES

 

3.1               
Issuance of Shares. In consideration of the agreement of the parties and their respective shareholders to the actions
set forth herein, subject to the approval of the TSXV, on the Effective Date:

 

		(a)	each issued and outstanding WOW Sub Share shall be converted into one (1) Amalco Share; and

 

		(b)	subject to Section 3.3, each ZoMedica Shareholder shall be entitled to receive one (1) fully paid,
issued and outstanding Resulting Issuer Share for each one (1) ZoMedica Share issued and outstanding as of the Effective Date.

 

3.2               
Acknowledgement regarding convertible securities. The parties acknowledge that in virtue of the contractual provisions
thereof, all ZoMedica Options shall be exchanged, on the Effective Date, for Resulting Issuer Options on a one (1) for one (1)
basis. The terms of the Resulting Issuer Options will otherwise be identical to the terms of the applicable ZoMedica Options, as
permitted by applicable law.

 

3.3               
Fractional Shares. No fractional shares or convertible securities shall be issued by the Resulting Issuer pursuant
to this Agreement. Any exchange that results in less than a whole number of shares or convertible securities shall be rounded down
to the next whole number.

 

    	- 6 -

     

    

3.4               
Restrictions on Securities. The parties acknowledge and agree that foregoing securities of the Resulting Issuer issued
pursuant to the terms and conditions provided herein will be subject to compliance with applicable securities laws.

 

Article
IV

REPRESENTATIONS AND WARRANTIES

 

4.1               
Representations and Warranties of WOW. WOW hereby represents and warrants to ZoMedica that:

 

		(a)	WOW and WOW Sub are corporations incorporated and subsisting under the laws of the Provinces of
Alberta and Canada respectively, have all requisite corporate power to own their respective properties and to conduct their respective
business as it is presently being conducted and are registered or otherwise qualified to carry on business in all jurisdictions
in which the nature of their assets or business makes such registration or qualification necessary or advisable;

 

		(b)	subject to obtaining any required regulatory approvals, as applicable, WOW and WOW Sub have full
legal capacity and corporate power to enter into this Agreement and to take, perform or execute all proceedings, acts and instruments
necessary or advisable to consummate the actions and transactions contemplated in this Agreement; all necessary corporate action
has been taken, or will be taken prior to the Effective Date, by or on the part of WOW and WOW Sub to authorize the execution and
delivery of this Agreement, including, in the case of WOW Sub, approval of the Amalgamation by special resolution of its sole shareholder,
and the taking, performing or executing of such proceedings, acts and instruments as are necessary or advisable for consummating
the actions and transactions contemplated in this Agreement and for fulfilling their respective obligations hereunder;

 

		(c)	this Agreement has been duly executed and delivered on behalf of WOW and WOW Sub and constitutes
a legal, valid and binding obligation of each of them, enforceable against each of them in accordance with its terms, except as
such terms may be limited by bankruptcy, insolvency, reorganization or other laws relating to the enforcement of creditors' rights
generally;

 

		(d)	WOW is a reporting issuer under the Securities Act (Alberta) and the Securities Act
(British Columbia) and, to the knowledge of WOW, no securities commission, nor the TSXV, has issued any order preventing the transactions
contemplated by this Agreement or the trading of any securities of WOW, other than the suspension by the TSXV of the listing of
WOW Shares due to its failure to complete a qualifying transaction within twenty-four (24) months of listing on the TSXV;

 

		(e)	neither the execution and delivery of this Agreement, nor the consummation of the transactions
contemplated hereby, nor compliance with and fulfillment of the terms and provisions of this Agreement will:

 

		(i)	conflict with or result in a breach of the terms, conditions or provisions of, or constitute a
default under:

 

		(1)	any of the constating documents or by-laws of WOW or WOW Sub; or

 

		(2)	any instrument, agreement, mortgage, judgment, order, award, decree or other instrument or restriction
to which WOW or WOW Sub is a party of or by which either of them is bound; or

 

		(ii)	except as otherwise described herein, require any affirmative approval, consent, authorization
or other order or action by any court, governmental authority or regulatory body or by any creditor of WOW or WOW Sub or any party
to any agreement to which WOW or WOW Sub is a party or by which WOW or WOW Sub is bound, except as shall have been obtained prior
to Closing;

 

    	- 7 -

     

    

		(f)	the authorized capital of WOW as of the date hereof consists of an unlimited number of WOW Shares
without nominal or par value, of which 4,500,000 WOW Shares are presently issued and outstanding. Each of the presently issued
and outstanding WOW Shares has been validly allotted and issued and is outstanding as a fully-paid and non-assessable share;

 

		(g)	the authorized capital of WOW Sub consists of an unlimited number of common shares, of which one
hundred shares are presently issued and outstanding. WOW is the legal and beneficial owner of all of such issued and outstanding
shares;

 

		(h)	except for the 200,000 WOW Options and 250,000 WOW Broker Warrants, as disclosed in Schedule "B",
no Person has any right, option, agreement, privilege or arrangement of any nature (whether by law, pre-emptive or contractual)
capable of becoming an agreement or option, including convertible securities, warrants or convertible obligations of any nature,
for the acquisition of any of the unissued shares in the capital of WOW;

 

		(i)	WOW is not a party to any unanimous shareholders agreement, pooling agreement, voting trust or
other similar type of arrangement in respect of the outstanding securities of WOW;

 

		(j)	the books and records of WOW fairly and correctly set out and disclose in all material respects,
the financial position of WOW as at the dates thereof and all material financial transactions of WOW relating to WOW's Business
have been accurately recorded in such books and records;

 

		(k)	WOW does not have any of its records, systems, controls, data or information recorded, stored,
maintained, operated or otherwise wholly or partly dependent upon or held by any means (including any electronic, mechanical or
photographic process, whether computerized or not) which (including all means of access thereto and therefrom) are not under the
exclusive ownership and direct control of WOW and, at Closing, WOW will have originals or copies of all such records, systems,
controls, data or information in its possession or control;

 

		(l)	WOW's Financial Statements fairly present the financial position of WOW as at the dates indicated
therein and fairly present the results of operations for the periods ended on such dates, all in accordance with IFRS consistently
applied throughout the period covered thereby, save and except as stated therein. WOW's books of account reflect all items of income
and expense and all assets and liabilities and accruals required to be reflected therein;

 

		(m)	as of the date hereof, the board of directors of WOW, after considering this Agreement and the
transactions contemplated herein, has determined unanimously that this Agreement and the transactions contemplated herein are fair
to WOW's security holders and are in the best interests of WOW;

 

		(n)	save and except for matters which are disclosed in WOW's Financial Statements or otherwise expressly
set out in this Agreement or as otherwise disclosed in writing to ZoMedica, WOW has not (nor has it agreed to) since November 30,
2015:

 

		(i)	incurred any debts, obligations or liabilities (absolute, accrued, contingent or otherwise and
whether due or to become due), except debts, obligations and liabilities incurred in the ordinary course of business;

 

		(ii)	discharged or satisfied any liens or paid any obligation or liability other than liabilities shown
on WOW's Financial Statements, other than in the ordinary course of business;

 

    	- 8 -

     

    

 

		(iii)	declared or made any payment, distribution or dividend based on its shares or purchased, redeemed
or otherwise acquired any of the shares in its capital or other securities or obligated itself to do so;

 

		(iv)	mortgaged, pledged or subjected to lien or other security interest any of its assets, tangible
or intangible other than the usual security granted to secure a bank line of credit or other than in the ordinary course of business;

 

		(v)	sold, assigned, leased, transferred or otherwise disposed of any of its assets (excluding inventory)
whether or not in the ordinary course of business;

 

		(vi)	increased materially the compensation payable or to become payable to any of its officers, directors
or employees, or in any bonus payment to or arrangement made with any officer, director or employee, or made any material changes
in its personnel policies or employee benefits;

 

		(vii)	cancelled, waived, released or compromised any debt, claim or right resulting in a Material Adverse
Effect on the business, prospects or financial condition of WOW;

 

		(viii)	significantly altered or revised any of its accounting principles, procedures, methods or practices
except as required under IFRS or other regulatory guidelines;

 

		(ix)	changed its credit policy as to provision of services, sales of inventories or collection or accounts
receivable except as dictated by competitive conditions;

 

		(x)	suffered any material damage, destruction or loss (whether or not covered by insurance) materially
and adversely affecting the properties, business or prospects of WOW;

 

		(xi)	entered into any transaction, contract or commitment other than in the ordinary course of business
except for the transactions set forth in this Agreement;

 

		(xii)	made or authorized any capital expenditures except for commitments previously disclosed to ZoMedica;

 

		(xiii)	issued or sold any shares in its capital stock or other securities, or granted any options with
respect thereto except for options granted to its agent under its initial public offering and as otherwise disclosed in writing
to ZoMedica or as referred to in paragraph 4.1(g)(h) hereof; or

 

		(xiv)	suffered or experienced any material adverse change in, or event or circumstance affecting, the
condition (financial or otherwise) of its properties, assets, liabilities, earnings, business, operations or prospects, and WOW
has no knowledge, information or belief of any fact, event or circumstances which might reasonably be expected to affect materially
and adversely the condition (financial or otherwise) of its properties, assets, liabilities, earnings, business operations or prospects,
and has not changed any shares of its capital stock, whether by way of reclassification, stock split or otherwise;

 

		(o)	the corporate records and minute books of WOW as provided to ZoMedica or its legal counsel contain
complete and accurate minutes of all meetings of and corporate actions or written consents by the directors and shareholders of
WOW, including all by-laws and resolutions passed by the board of directors and shareholders of WOW since the incorporation of
WOW; and all such meetings were duly called and held. The shareholders' list maintained by WOW's registrar and transfer agent provided
to ZoMedica is, to the best of WOW's knowledge, complete and accurate in all respects as it relates to registered shareholders;

 

    	- 9 -

     

    

 

		(p)	other than WOW Sub, WOW does not hold or own, beneficially or otherwise, any securities of any
other corporate entity;

 

		(q)	WOW does not operate or engage in any business activities, operations or management of any nature
or kind whatsoever other than WOW's Business and WOW Sub has never carried on any business and was incorporated for the sole purpose
of completing the Amalgamation;

 

		(r)	WOW Sub has no assets or liabilities or contracts or employees of any sort whatsoever;

 

		(s)	except as expressly referred to in WOW's Financial Statements or as otherwise disclosed in writing
to ZoMedica,

 

		(i)	WOW does not have outstanding any bonds, debentures, mortgages, notes or other similar indebtedness
or liabilities whatsoever and WOW is not bound under any agreement to create, issue or incur any bonds, debentures, mortgages,
notes or other similar indebtedness or liabilities whatsoever, and

 

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

 

		(t)	since incorporation, no payments have been made or authorized by WOW to its officers, directors,
employees, shareholders or former directors, officers, employees or shareholders or to any Person not dealing at Arm's Length with
any of the foregoing, except those expressly disclosed herein, reflected in WOW's Financial Statements or as disclosed in writing
to ZoMedica or made in the ordinary course of business and at the regular rates payable to them of salary, pension, bonuses or
other remuneration of any nature;

 

		(u)	WOW has filed all tax returns required to be filed by it prior to the date hereof in all applicable
jurisdictions and has paid, collected and remitted all taxes, customs duties, tax instalments, levies, assessments, reassessments,
penalties, interest and fines due and payable, collectible or remittable by it at present. All such tax returns properly reflect,
and do not in any respect understate the income, taxable income or the liability for taxes of WOW in the relevant period and the
liability of WOW for the collection, payment and remittance of tax under applicable Tax Laws;

 

		(v)	adequate provision has been made in WOW's Financial Statements for all taxes, governmental charges
and assessments, including interest and penalties thereon, payable by WOW for all periods up to the date of the balance sheets
comprising part of WOW's Financial Statements;

 

		(w)	WOW has withheld and remitted all amounts required to be withheld and remitted by it in respect
of any taxes, governmental charges or assessments in respect of any taxable year or portion thereof up to and including February
28, 2015;

 

		(x)	WOW is conducting and has always conducted WOW's Business in substantial compliance with all applicable
laws, rules and regulations of each jurisdiction in which WOW's Business is carried on, is not currently in breach of any such
laws, rules or regulations;

 

		(y)	other than the filing of Articles of Amalgamation and any required regulatory approvals, no consent,
licence, approval, order or authorization of, or registration, filing or declaration with any governmental authority that has not
been obtained or made by WOW and no consent of any Third Party is required to be obtained by WOW in connection with the execution,
delivery and performance by WOW of this Agreement or the consummation of the transactions contemplated hereby;

 

    	- 10 -

     

    

 

		(z)	there is no action, lawsuit, claim, proceeding, or investigation pending or, to the best knowledge
of WOW, threatened against, relating to or affecting WOW before any court, government agency, or any arbitrator of any kind, and
WOW is not aware of any existing ground on which any such proceeding might be commenced with any reasonable likelihood of success
and there is not presently outstanding against WOW any judgment, decree, injunction, rule or order of any court, governmental agency,
or arbitrator relating to or affecting WOW in connection with WOW's Business;

 

		(aa)	there is not now outstanding any arrangement (contractual or otherwise) between WOW and any Person
which will or may be, terminated or, to the best of the knowledge of WOW, prejudicially affected as a result of the Amalgamation
contemplated herein;

 

		(bb)	WOW is not a party to any lease or agreement in the nature of a lease, whether as lessor or lessee;

 

		(cc)	WOW does not currently own any material insurable assets and does not currently maintain any policies
of insurance;

 

		(dd)	there are no outstanding written or oral employment contracts, sales, services, management or consulting
agreements, employee benefit or profit-sharing plans, or any bonus arrangements with any employee of WOW, nor are there any outstanding
oral contracts of employment which are not terminable on the giving of reasonable notice in accordance with applicable law. There
are no pension or retirement plans established by or for WOW for the employees of WOW's Business; and

 

		(ee)	no representation or warranty made by WOW in this Agreement and no statement made in any schedule,
exhibit, certificate or other document furnished pursuant to this Agreement, contains, or will contain, any untrue statement of
a Material Fact or omits, or will omit, to state any Material Fact necessary to make such representation or warranty or any such
statement not misleading. WOW does not know of any fact which, if known to ZoMedica, would deter them from consummating the transactions
contemplated herein.

 

4.2               
No investigations made by or on behalf of ZoMedica at any time shall have the effect of waiving, diminishing the scope of
or otherwise affecting any representation, warranty or covenant made by WOW herein or pursuant hereto and no waiver by ZoMedica
of any condition, in whole or in part, shall operate as a waiver of any other conditions.

 

4.3               
Representations and Warranties of ZoMedica. ZoMedica hereby represents and warrants to WOW that:

 

		(a)	ZoMedica is a corporation incorporated and subsisting under the federal laws of Canada, has all
legal capacity and requisite corporate power to own its properties and to conduct its business as it is presently being conducted,
and is duly registered or otherwise qualified to carry on business in all jurisdictions in which the nature of its assets or business
makes such registration or qualification necessary or advisable;

 

		(b)	ZoMedica Subsidiary is a corporation properly formed and subsisting under the laws of its jurisdiction
of incorporation, has all legal capacity and requisite corporate power to own its properties and conduct its businesses as presently
being conducted by it, and is duly registered or otherwise qualified to carry on business in all jurisdictions in which the nature
of its assets or businesses make such registration or qualification necessary or advisable;

 

		(c)	the ZoMedica Shareholders are the only registered and beneficial owners of all of the issued and
outstanding ZoMedica Shares, which ZoMedica Shares constitute all of the issued and outstanding shares in the capital of ZoMedica,
free and clear of all liens, charges, pledges, security interests, demands, adverse claims, rights or any other encumbrances whatsoever
and other than pursuant to the ZoMedica Options, as further described in Schedule "C" hereto, no Person has any right,
option, agreement or arrangement of any nature capable of becoming an agreement for the acquisition of any of the ZoMedica Shares
or any interest therein from the ZoMedica Shareholders or for the subscription, allotment or issuance of any unissued shares in
the capital of ZoMedica;

 

    	- 11 -

     

    

 

		(d)	ZoMedica has the full legal capacity and corporate power to enter into this Agreement and to take,
perform or execute all proceedings, acts and instruments necessary or advisable to consummate the other actions and transactions
contemplated in this Agreement and to fulfill its obligations under this Agreement; all necessary corporate action has been taken
or will be taken prior to the Effective Date, by or on the part of ZoMedica to authorized the execution and delivery of this Agreement,
including the approval of the Amalgamation by special resolution of the ZoMedica Shareholders, and the taking, performing or executing
of such proceedings, acts and instruments as are necessary or advisable for consummating the actions and transactions contemplated
in this Agreement and for fulfilling their respective obligations hereunder;

 

		(e)	ZoMedica is not a reporting issuer or the equivalent thereof in any jurisdiction. No securities
commission has issued any order preventing the transaction contemplated in this Agreement or the trading of any securities of ZoMedica;

 

		(f)	this Agreement has been duly executed and delivered by ZoMedica and this Agreement constitutes
a legal, valid and binding obligation of ZoMedica enforceable against ZoMedica in accordance with its terms, except as such terms
may be limited by bankruptcy, insolvency, re-organization or other laws relating to the enforcement of creditors' rights generally;

 

		(g)	neither the execution, nor delivery of this Agreement, nor the consummation of the transactions
contemplated hereby, nor compliance with and fulfillment of the terms and provisions of this Agreement will:

 

		(i)	conflict with or result in a breach of the terms, conditions or provisions of, or constitute a
default under:

 

		(1)	any of the constating documents or by-laws of ZoMedica; or

 

		(2)	any instrument, agreement, mortgage, judgment, order, award, decree or other instrument or restriction
to which ZoMedica is a party or by which ZoMedica is bound; and

 

		(ii)	except as otherwise described herein, require any affirmative approval, consent, authorization
or other order or action by any court, governmental authority or regulatory body or by any creditor of ZoMedica or any party to
any agreement to which ZoMedica is a party or by which ZoMedica is bound, except as shall have been obtained prior to Closing;

 

		(h)	except for the ZoMedica Options (as further described in Schedule "C" hereto), no Person,
firm or corporation has any agreement or option or any right or privilege (whether by law, pre-emptive or contractual) capable
of becoming an agreement or option, including convertible securities, warrants or convertible obligations of any nature, for the
purchase from ZoMedica of any ZoMedica Shares or for the subscription, allotment or issuance of any unissued shares in the securities
of ZoMedica or ZoMedica Subsidiary;

 

		(i)	the authorized capital of ZoMedica as of the date hereof consists of an unlimited number of common
shares without nominal or par value of which 77,370,716 ZoMedica Shares are presently validly issued and outstanding as fully paid
and non-assessable shares in the capital of ZoMedica and such shares have been issued in accordance with applicable prospectus
and dealer registration exemptions from applicable securities laws;

 

    	- 12 -

     

    

 

		(j)	none of the outstanding ZoMedica Shares are subject to escrow restrictions, pooling arrangements,
voting trusts or unanimous shareholders agreements, whether voluntary or otherwise;

 

		(k)	the books and records of ZoMedica and ZoMedica Subsidiary fairly and correctly set out and disclose
in all material respects, the financial position of ZoMedica and ZoMedica Subsidiary, as applicable, as at the dates thereof and
all material financial transactions of ZoMedica and ZoMedica Subsidiary relating to ZoMedica's Business have been accurately recorded
in such books and records;

 

		(l)	neither ZoMedica nor ZoMedica Subsidiary has any of its records, systems, controls, data or information
recorded, stored, maintained, operated or otherwise wholly or partly dependent upon or held by any means (including any electronic,
mechanical or photographic process, whether computerized or not) which (including all means of access thereto and therefrom) are
not under the exclusive ownership and direct control of ZoMedica or ZoMedica Subsidiary and at Closing, ZoMedica and ZoMedica Subsidiary
will have originals or copies of all such records, systems, controls, date or information in its possession or control;

 

		(m)	ZoMedica is the registered and beneficial holder of all of the issued and outstanding shares of
ZoMedica Subsidiary and all such shares are validly issued and outstanding as fully paid and non-assessable shares in the capital
of ZoMedica Subsidiary;

 

		(n)	the issued and outstanding shares of ZoMedica Subsidiary are held free and clear of all liens,
mortgages, charges, pledges, security interests, demands, adverse claims, rights or any other encumbrances whatsoever and no Person
has or at Closing will have any right, option, agreement or arrangement capable of becoming an agreement for the acquisition of
any of the shares in the capital of ZoMedica Subsidiary or any interest therein, issued or otherwise, from ZoMedica or from ZoMedica
Subsidiary;

 

		(o)	save and except for matters which are disclosed in the ZoMedica Financial Statements or otherwise
expressly set out in this Agreement or as otherwise disclosed in writing to WOW, neither ZoMedica nor ZoMedica Subsidiary have
(nor has any of them agreed to) since November 30, 2015:

 

		(i)	incurred any debts, obligations or liabilities (absolute, accrued, contingent or otherwise and
whether due or to become due), except debts, obligations and liabilities incurred in the ordinary course of business;

 

		(ii)	discharged or satisfied any liens or paid any obligation or liability other than liabilities shown
on ZoMedica 's Financial Statements, other than in the ordinary course of business;

 

		(iii)	declared or made any payment, distribution or dividend based on its shares or purchased, redeemed
or otherwise acquired any of the shares in its capital or other securities or obligated itself to do so;

 

		(iv)	mortgaged, pledged or subjected to lien or other security interest any of its assets, tangible
or intangible other than the usual security granted to secure a bank line of credit or other than in the ordinary course of business;

 

		(v)	sold, assigned, leased, transferred or otherwise disposed of any of its assets (excluding inventory)
having either a book value or fair market value in excess of $100,000, whether or not in the ordinary course of business, except
for transactions previously disclosed to WOW;

 

    	- 13 -

     

    

 

		(vi)	increased materially the compensation payable or to become payable by ZoMedica or ZoMedica Subsidiary
to any of its officers, directors or employees, or in any bonus payment to or arrangement made with any officer, director or employee,
or made any material changes in the personnel policies or employee benefits of ZoMedica or ZoMedica Subsidiary;

 

		(vii)	cancelled, waived, released or compromised any debt, claim or right resulting in a Material Adverse
Effect on the business, prospects or financial condition of ZoMedica or ZoMedica Subsidiary;

 

		(viii)	significantly altered or revised any of its accounting principles, procedures, methods or practices
except as required under IFRS or other regulatory guidelines;

 

		(ix)	suffered any material damage, destruction or loss (whether or not covered by insurance) materially
and adversely affecting the properties, business or prospects of ZoMedica or ZoMedica Subsidiary;

 

		(x)	entered into any transaction, contract or commitment other than in the ordinary course of business
except for the transactions set forth in this Agreement;

 

		(xi)	made or authorized any capital expenditures in excess of $250,000 in the aggregate except for commitments
previously disclosed to WOW;

 

		(xii)	other than pursuant to the Private Placement, issued or sold any shares in its capital stock or
other securities, or granted any options with respect thereto except as otherwise disclosed in writing to WOW; or

 

		(xiii)	suffered or experienced any material adverse change in, or event or circumstance affecting, the
condition (financial or otherwise) of its properties, assets, liabilities, earnings, business, operations or prospects and ZoMedica
has no knowledge, information or belief of any fact, event or circumstances which might reasonably be expected to affect materially
and adversely the condition (financial or otherwise) of its properties, assets, liabilities, earnings, business operations or prospects
and has not changed any shares of its capital stock, whether by way of reclassification, stock split or otherwise;

 

		(p)	the ZoMedica Financial Statements fairly present the financial position of ZoMedica, on a consolidated
basis, as at the date indicated therein and fairly present the results of operations for the periods ended on such dates, all in
accordance with IFRS consistently applied throughout the period covered thereby, save and except as stated therein. ZoMedica's
and ZoMedica Subsidiary's books of account reflect items of income and expense and all assets and liabilities and accruals required
to be reflected therein;

 

		(q)	as of the date hereof, the board of directors of ZoMedica, after considering this Agreement and
the transaction contemplated herein, has determined unanimously that this Agreement and the transactions contemplated herein are
fair to ZoMedica's security holders and are in the best interests of ZoMedica;

 

		(r)	other than ZoMedica Subsidiary, ZoMedica does not hold or own, beneficially or otherwise, any securities
of any other corporate entity;

 

		(s)	all corporate records and minute books of ZoMedica and ZoMedica Subsidiary have been provided to
WOW or its legal counsel and contain complete and accurate minutes of all meetings of and corporate actions or written consents
by the directors and shareholders of ZoMedica and ZoMedica Subsidiary, as applicable, including all by-laws and resolutions passed
by the board of directors and shareholders of ZoMedica and ZoMedica Subsidiary, as applicable, since the incorporation of ZoMedica
and ZoMedica Subsidiary and all such meetings were duly called and held;

 

    	- 14 -

     

    

 

		(t)	neither ZoMedica nor ZoMedica Subsidiary operates or engages in any business activities, operations
or management of any nature or kind whatsoever other than ZoMedica's Business;

 

		(u)	except as expressly referred to in ZoMedica 's Financial Statements or as otherwise expressed in
writing to WOW,

 

		(i)	neither ZoMedica nor ZoMedica Subsidiary have outstanding any bonds, debentures, mortgages, notes
or other similar indebtedness or liabilities whatsoever and neither ZoMedica nor ZoMedica Subsidiary is bound under any agreement
to create, issue or incur any bonds, debentures, mortgages, notes or other similar indebtedness or liabilities whatsoever; and

 

		(ii)	neither ZoMedica nor ZoMedica Subsidiary is a party to or bound by any agreement of guarantee,
indemnification, assumption or endorsement or any other like commitment of the obligations, liabilities (contingent or otherwise)
or indebtedness of any other Person.

 

		(v)	since incorporation, no payments have been made or authorized by ZoMedica or ZoMedica Subsidiary
to their officers, directors, employees, shareholders or former directors, officers, employees or shareholders or to any Person
not dealing at Arm's Length with any of the foregoing, except those expressly disclosed herein, reflected in ZoMedica 's Financial
Statements or as disclosed in writing to WOW or made in the ordinary course of business and at the regular rates payable to them
of salary, pension, bonuses or other remuneration of any nature;

 

		(w)	ZoMedica and ZoMedica Subsidiary have paid, collected and remitted all taxes, customs duties, tax
instalments, levies, assessments, reassessments, penalties, interest and fines due and payable, collectible or remittable by them
at present;

 

		(x)	adequate provision has been made in ZoMedica's Financial Statements for all taxes, governmental
charges and assessments, including interest and penalties thereon, payable by ZoMedica and ZoMedica Subsidiary for all periods
up to the date of the balance sheets comprising part of ZoMedica's Financial Statements;

 

		(y)	each of ZoMedica and ZoMedica Subsidiary have withheld and remitted all amounts required to be
withheld and remitted by it in respect of any taxes, governmental charges or assessments in respect of any taxable year or portion
thereof up to and including December 31, 2015;

 

		(z)	ZoMedica and ZoMedica Subsidiary are conducting and have always conducted ZoMedica's Business in
substantial compliance with all applicable laws, rules and regulations of each jurisdiction in which ZoMedica's Business is carried
on, are not currently in material breach of any such laws, rules or regulations and are duly licensed, registered or qualified,
in each jurisdiction in which ZoMedica or ZoMedica Subsidiary owns, leases or has any interest of claim in property or carries
on ZoMedica's Business, to enable ZoMedica's Business to be carried on as now conducted and its property and assets to be owned,
leased licensed or otherwise and operated, and all such licences, registrations, claims, interests and qualifications are valid
and subsisting and in good standing and none of the same contains any burdensome term, provision, condition or limitation which
has or may have an adverse effect on the operation of ZoMedica's Business;

 

		(aa)	other than any required regulatory approvals, no consent, licence, approval, order or authorization
of, or registration, filing or declaration with any governmental authority that has not been obtained or made by ZoMedica and no
consent of any Third Party is required to be obtained by ZoMedica in connection with the execution, delivery and performance by
ZoMedica of this Agreement or the consummation of the transactions contemplated hereby;

 

    	- 15 -

     

    

 

		(bb)	ZoMedica and ZoMedica Subsidiary are conducting and have always conducted ZoMedica's Business in
substantial compliance, without limitation, with all applicable material veterinary pharmaceutical rules, regulations, orders,
rulings, permits, decrees and judgements in any and all jurisdictions in which ZoMedica carries on business or has any interests
whatsoever, directly or indirectly;

 

		(cc)	except for those that have been previously disclosed in writing to WOW, there are no defects, failures
or impairments in respect of the title of ZoMedica or ZoMedica Subsidiary to their respective properties, facilities or other ZoMedica
Assets, which in the aggregate could have a Material Adverse Effect on ZoMedica, ZoMedica's Business or the anticipated cashflow
of ZoMedica. ZoMedica's Assets are free and clear of all liens, encumbrances and adverse claims created by, through or under ZoMedica
or ZoMedica Subsidiary, as applicable, other than those liens, encumbrances and adverse claims specifically disclosed in writing
by ZoMedica;

 

		(dd)	neither ZoMedica nor ZoMedica Subsidiary has received written notice of any claim by any Third
Party adverse to or inconsistent with the interest attributed to ZoMedica or ZoMedica Subsidiary, as applicable, with respect to
ZoMedica's Assets;

 

		(ee)	to the best of its knowledge and belief, all issuances of securities have been completed in accordance
with all applicable securities laws and regulatory policies;

 

		(ff)	no employee has made any claim or, to the best of ZoMedica's knowledge, has any basis for any action
or proceeding against ZoMedica or ZoMedica Subsidiary, arising out of any statute, ordinance or regulation relating to discrimination
in employment or employment practices, harassment, occupational health and safety standards or worker's compensation;

 

		(gg)	neither ZoMedica nor ZoMedica Subsidiary has made any agreements with any labour union or employee
association nor made any commitments to or conducted any negotiations with any labour union or employee association with respect
to any future agreements;

 

		(hh)	no trade union, council of trade unions, employee bargaining agency or affiliated bargaining agent
holds bargaining rights with respect to any of the employees of ZoMedica or ZoMedica Subsidiary by way of certification, interim
certification, voluntary recognition, designation or successor rights;

 

		(ii)	there is no action, lawsuit, claim, proceeding, or investigation pending or, to the best knowledge
of ZoMedica, threatened against, relating to or affecting ZoMedica or ZoMedica Subsidiary before any court, government agency,
or any arbitrator of any kind, in any jurisdiction in Canada, the United States or internationally. ZoMedica is not aware of any
existing ground on which any such proceeding might be commenced with any reasonable likelihood of success and there is not presently
outstanding against ZoMedica or ZoMedica Subsidiary any judgment, decree, injunction, rule or order of any court, governmental
agency, or arbitrator relating to or affecting ZoMedica or ZoMedica Subsidiary, ZoMedica's Assets or ZoMedica's Business. No waivers
have been filed by ZoMedica or ZoMedica Subsidiary with any taxing authority in any jurisdiction in Canada or internationally;

 

		(jj)	there are no outstanding written or oral employment contracts, sales, services, management or consulting
agreements, employee benefit or profit-sharing plans, or any bonus arrangements with any employee of ZoMedica or ZoMedica Subsidiary,
nor are there any outstanding oral contracts of employment which are not terminable on the giving of reasonable notice in accordance
with applicable law. There are no pension or retirement plans established by or for ZoMedica or ZoMedica Subsidiary for the employees
of ZoMedica or ZoMedica Subsidiary;

 

    	- 16 -

     

    

 

		(kk)	there is not now outstanding any arrangement (contractual or otherwise) between ZoMedica or ZoMedica
Subsidiary and any Person which will or may be, terminated or, to the best knowledge of ZoMedica, prejudicially affected as a result
of the Amalgamation contemplated herein;

 

		(ll)	Schedule "E" sets forth a list of all ZoMedica Shareholders that are in the United States.
All other ZoMedica Shareholders not listed on Schedule "E" are outside the United States; and

 

		(mm)	no representation or warranty made by ZoMedica in this Agreement and no statement made in any schedule,
exhibit, certificate or other document furnished pursuant to this Agreement, contains, or will contain, any untrue statement of
a Material Fact or omits, or will omit, to state any Material Fact necessary to make such representation or warranty or any such
statement not misleading. ZoMedica does not know of any fact which, if known to the other parties hereto would deter them from
consummating the transactions contemplated herein.

 

4.4               
No investigations made by or on behalf of WOW at any time shall have the effect of waiving, diminishing the scope of or
otherwise affecting any representation, warranty or covenant made by ZoMedica herein or pursuant hereto and no waiver by WOW of
any condition, in whole or in part, shall operate as a waiver of any other condition.

 

Article
V

COVENANTS

 

5.1              
General Covenants of WOW. WOW covenants and agrees that, until Closing or the date on which this Agreement is terminated,
and unless otherwise contemplated herein, it shall:

 

		(a)	take all requisite action to:

 

		(i)	approve this Agreement; and

 

		(ii)	approve such actions as the other parties hereto may determine to be necessary or desirable for
the purposes hereof;

 

		(b)	in consultation with ZoMedica and its counsel, use all reasonable commercial efforts to prepare
and file the CPC Filing Statement all in accordance with applicable laws;

 

		(c)	use its reasonable commercial efforts to preserve intact as a going concern its business organization
and goodwill, to keep available the services of its officers and employees as a group, to maintain its business relationships and
to ensure that WOW's Business shall be conducted only in the usual and ordinary course of business consistent with past practice;

 

		(d)	not carry on any business other than as a capital pool corporation and cause WOW Sub not to carry
on any business;

 

		(e)	give its consent (and provide such other reasonable assurances as may be required) and use all
reasonable commercial efforts to obtain (including the provision of such reasonable assurances as may be required), consents of
all other Persons to the transactions contemplated by this Agreement, as may be required pursuant to any statute, law or ordinance
or by any governmental or other regulatory authority having jurisdiction;

 

		(f)	upon WOW receiving notification or other information from any regulatory authority or body concerning
the transactions contemplated hereunder, disclose such information promptly in writing to the solicitors for ZoMedica;

 

		(g)	in consultation with ZoMedica and its counsel, forthwith use its reasonable commercial efforts
to obtain all necessary regulatory approvals and to make application to the TSXV for the listing of Resulting Issuer Shares and
the Resulting Issuer Shares issuable upon exercise of the Resulting Issuer Options on the TSXV following the Closing and assist
in making all submissions, preparing all press releases and circulars and making all notifications required with respect to this
transaction and the issuance of shares as contemplated hereunder;

 

    	- 17 -

     

    

 

		(h)	not directly or indirectly do or permit to occur any of the following: (i) amend its constating
documents; (ii) declare, set aside or pay any dividend or other distribution or payment (whether in cash, shares or property) in
respect of its outstanding shares; (iii) issue or agree to issue any shares, or securities convertible into or exchangeable or
exercisable for, or otherwise evidencing a right to acquire, shares, other than the issuance of WOW Shares pursuant to the exercise
of the WOW Options, if applicable; (iv) redeem, purchase or otherwise acquire any of its outstanding shares or other securities;
(v) split, combine or reclassify any of its securities; (vi) adopt a plan of liquidation or resolutions providing for the liquidation,
dissolution or reorganization of WOW; (vii) reduce the stated capital of WOW or any of its outstanding shares; (viii) take any
action, refrain from taking any action, permit any action to be taken or not taken, inconsistent with this Agreement, which might
directly or indirectly interfere or affect the consummation of the Amalgamation; or (ix) enter into or modify any contract, agreement,
commitment or arrangement with respect to any of the foregoing;

 

		(i)	promptly notify ZoMedica in writing of any material change (actual, anticipated, contemplated or,
to the knowledge of WOW threatened, financial or otherwise) in its business, operations, affairs, assets, capitalization, financial
condition, licenses, permits, rights, privileges or liabilities, whether contractual or otherwise, or of any change in any representation
or warranty provided by WOW in this Agreement which change is or may be of such a nature to render any representation or warranty
misleading or untrue in any material respect and WOW shall in good faith discuss with ZoMedica any change in circumstances (actual,
anticipated, contemplated, or to the knowledge of WOW threatened) which is of such a nature that there may be a reasonable question
as to whether notice need to be given to ZoMedica pursuant to this provision;

 

		(j)	not: (i) grant any officer, director or employee an increase in compensation in any form;
(ii) grant any general salary increase; (iii) take any action with respect to the amendment of any severance or termination
pay policies or arrangements for any directors, officers or employees, except as contemplated herein; (iv) adopt or amend
(other than to permit accelerated vesting of currently outstanding rights) any stock option plan or the terms of any outstanding
rights thereunder; nor (v) advance any loan to any officer, director or any other party not at arm's length;

 

		(k)	not adopt or amend or make any contribution to any bonus, employee benefit plan, profit sharing,
deferred compensation, insurance, incentive compensation, other compensation or other similar plan, agreement, stock purchase plan,
fund or arrangement for the benefit of employees, except as is necessary to comply with the law or with respect to existing provisions
of any such plans, programs, arrangements or agreements;

 

		(l)	use all reasonable commercial efforts to take all steps necessary to make proper disclosure within
such time as required by any regulatory authority and any other applicable statutes and laws concerning this Agreement and the
transactions contemplated herein;

 

		(m)	use its best efforts to maintain its status as a reporting issuer in the provinces of Alberta and
British Columbia;

 

		(n)	procure and accept the resignations of all of the current directors and officers of WOW and approve
Gerald Solensky Jr. as President and Chief Executive Officer and approve or elect Gerald Solensky Jr., James Lebar, William MacArthur
and such further nominees as presented by ZoMedica for appointment or election to the board of directors of WOW and to fix the
size of the board accordingly;

 

		(o)	use all reasonable commercial efforts to satisfy (or cause the satisfaction of) the conditions
precedent to its obligations hereunder set forth in Article VI to the extent that the same is within its control and take, or cause
to be taken, all other action and to do, or cause to be done, all other things necessary, proper or advisable under all applicable
laws to complete the Amalgamation, including using its reasonable commercial efforts to:

 

    	- 18 -

     

    

 

		(i)	obtain all necessary waivers, consents and approvals required to be obtained by it from other parties
to loan agreements, leases and other contracts;

 

		(ii)	obtain all necessary consents, approvals and authorizations as are required to be obtained by it
under any applicable laws;

 

		(iii)	effect all necessary registrations and filings and submissions of information requested by governmental
entities required to be effected by it in connection with the Amalgamation and participate and appear in any proceedings of either
party before governmental entities in connection with the Amalgamation;

 

		(iv)	oppose, lift or rescind any injunction or restraining order or other order or action seeking to
stop or otherwise adversely affect the ability of the parties to consummate the transactions contemplated hereby;

 

		(v)	fulfill all conditions and satisfy all provisions of this Agreement;

 

		(vi)	cooperate with the other parties to this Agreement in connection with the performance by WOW of
its obligations hereunder;

 

		(vii)	cause the Founders' Shares Transfer Agreement to be entered into by the holders of 2,000,000 WOW
Shares; and

 

		(viii)	not take any action, refrain from taking any action or permit any action to be taken or not taken
that is inconsistent with this Agreement or that would reasonably be expected to significantly impede the consummation of the Amalgamation;

 

		(p)	not incur any material liabilities of any kind whatsoever, whether or not accrued and whether or
not determined or determinable, in respect of which WOW may become liable on or after the Closing Date, except as set out in WOW's
Financial Statements and except for those public company and transactional costs incurred prior to Closing, which will be disclosed
in writing to ZoMedica at Closing;

 

		(q)	validly issue the Resulting Issuer Shares in accordance with Article III hereof as fully paid and
non-assessable common shares in the capital of the Resulting Issuer, free and clear of all mortgages, liens, charges, security
deposits, adverse claims, pledges, encumbrances, options, warrants, rights, privileges and demands whatsoever;

 

		(r)	validly issue the Resulting Issuer Options and properly reserve for issuance sufficient Resulting
Issuer Shares to allow for the full exercise of the Resulting Issuer Options;

 

		(s)	to file, duly and timely, all tax returns required to be filed by it and to pay promptly all taxes,
assessments and governmental charges which are claimed by any governmental authority to be due and owing and not to enter into
any agreement, waiver or other arrangement providing for an extension of time with respect to the filing of any tax return or the
payment or assessment of any tax, governmental charge or deficiency;

 

		(t)	instruct its legal counsel to deal with and deliver the Deposit in accordance with the terms set
forth in Article VII of this Agreement;

 

    	- 19 -

     

    

 

		(u)	neither declare nor pay any dividends or other distributions or returns of capital on WOW Shares
from the date of this Agreement until the Closing Date without the prior consent of ZoMedica; and

 

		(v)	use its reasonable best efforts to ensure that the escrow requirements imposed by the TSXV are
the least restrictive as possible and pertain to the fewest parties as possible.

 

5.2               
WOW's Covenant Regarding Non-Solicitation. WOW agrees that it shall immediately cease and terminate any discussion
or negotiation regarding any alternative business combination or sale or purchase of material assets, and it shall not provide
any information regarding either WOW or ZoMedica to any other person regarding any such transaction and will not directly or indirectly,
and will not permit any of its directors, officers, employees, consultants, financial advisors or other representatives to solicit,
encourage, respond to or consider any other initiative or proposal regarding any business combination or sale of material assets.
WOW agrees to promptly, and in any event within two business days, notify ZoMedica of any proposal regarding a business combination,
takeover bid or other acquisition proposal or any inquiry or contact with any person with respect thereto, is received by WOW,
and promptly inform ZoMedica of all the material terms and conditions thereof and furnish to ZoMedica copies of any written acquisition
proposal and the contents of any communications in response thereto. Notwithstanding the above, nothing in this clause shall prevent
the board of directors of WOW from responding as required by applicable law to any unsolicited bona fide arm's length offer, provided
that WOW shall promptly and fully inform ZoMedica of the complete details thereof and any changes thereto. The binding obligations
of WOW under this Section 5.2 shall apply so long as this Agreement remains in full force and effect.

 

5.3               
General Covenants of ZoMedica. ZoMedica covenants and agrees that, until Closing or the date on which this Agreement
is terminated, and unless otherwise contemplated herein, it shall:

 

		(a)	take all requisite action to:

 

		(i)	approve this Agreement; and

 

		(ii)	approve such actions as the other parties hereto may determine to be necessary or desirable for
the purposes hereof;

 

		(b)	in consultation with WOW and its counsel, use all reasonable commercial efforts to prepare and
file the CPC Filing Statement all in accordance with applicable laws;

 

		(c)	use its reasonable commercial efforts to preserve intact as a going concern its business organization
and goodwill, to keep available the services of its officers and employees as a group, to maintain its business relationships and
to ensure that ZoMedica's Business shall be conducted only in the usual and ordinary course of business consistent with past practice;

 

		(d)	give its consent (and provide such other reasonable assurances as may be required) and use all
reasonable commercial efforts to obtain (including the provision of such reasonable assurances as may be required), consents of
all other Persons to the transactions contemplated by this Agreement, as may be required pursuant to any statute, law or ordinance
or by any governmental or other regulatory authority having jurisdiction;

 

		(e)	upon ZoMedica receiving notification or other information from any regulatory authority or body
concerning the transactions contemplated hereunder, disclose such information promptly in writing to the solicitors for WOW;

 

		(f)	in consultation with WOW and its counsel, forthwith use its reasonable commercial efforts to obtain
all necessary regulatory approvals and to make application to the TSXV for the listing of Resulting Issuer Shares and the Resulting
Issuer Shares underlying the Resulting Issuer Options on the TSXV following the Closing and assist in making all submissions, preparing
all press releases and circulars and making all notifications required with respect to this transaction and the issuance of shares
as contemplated hereunder;

 

    	- 20 -

     

    

 

		(g)	not directly or indirectly do or permit to occur any of the following: (i) amend its constating
documents; (ii) declare, set aside or pay any dividend or other distribution or payment (whether in cash, shares or property) in
respect of its outstanding shares; (iii) issue or agree to issue any shares, or securities convertible into or exchangeable or
exercisable for, or otherwise evidencing a right to acquire, shares, other than the issuance of ZoMedica Shares pursuant to the
exercise of the ZoMedica Options or in accordance with the Private Placement, as may be applicable; (iv) redeem, purchase or otherwise
acquire any of its outstanding shares or other securities; (v) split, combine or reclassify any of its securities; (vi) adopt a
plan of liquidation or resolutions providing for the liquidation, dissolution or reorganization of ZoMedica; (vii) reduce the stated
capital of ZoMedica or any of its outstanding shares; (viii) take any action, refrain from taking any action, permit any action
to be taken or not taken, inconsistent with this Agreement, which might directly or indirectly interfere or affect the consummation
of the Amalgamation; or (ix) enter into or modify any contract, agreement, commitment or arrangement with respect to any of the
foregoing;

 

		(h)	promptly notify WOW in writing of any material change (actual, anticipated, contemplated or, to
the knowledge of ZoMedica threatened, financial or otherwise) in its or ZoMedica Subsidiary's business, operations, affairs, assets,
capitalization, financial condition, licenses, permits, rights, privileges or liabilities, whether contractual or otherwise, or
of any change in any representation or warranty provided by ZoMedica in this Agreement which change is or may be of such a nature
to render any representation or warranty misleading or untrue in any material respect and ZoMedica shall in good faith discuss
with WOW any change in circumstances (actual, anticipated, contemplated, or to the knowledge of ZoMedica threatened) which is of
such a nature that there may be a reasonable question as to whether notice need to be given to WOW pursuant to this provision;

 

		(i)	not: (i) grant any officer, director or employee an increase in compensation in any form;
(ii) grant any general salary increase; (iii) take any action with respect to the amendment of any severance or termination
pay policies or arrangements for any directors, officers or employees, except as contemplated herein; (iv) adopt or amend
(other than to permit accelerated vesting of currently outstanding rights) any stock option plan or the terms of any outstanding
rights thereunder; nor (v) advance any loan to any officer, director or any other party not at arm's length;

 

		(j)	ZoMedica shall not adopt or amend or make any contribution to any bonus, employee benefit plan,
profit sharing, deferred compensation, insurance, incentive compensation, other compensation or other similar plan, agreement,
stock purchase plan, fund or arrangement for the benefit of employees, except as is necessary to comply with the law or with respect
to existing provisions of any such plans, programs, arrangements or agreements;

 

		(k)	provide written notice to WOW of any additional issuances of ZoMedica Shares (other than pursuant
to the Private Placement or the exercise of ZoMedica Options) and any other grants of rights, options or entitlements to ZoMedica
Shares, and ZoMedica confirms that all such issued securities shall be included as securities of ZoMedica, described herein and
shall be acquired on the same basis as described in Section 3.1 hereof;

 

		(l)	use all reasonable commercial efforts to take all steps necessary to make proper disclosure within
such time as required by any regulatory authority and any other applicable statutes and laws concerning this Agreement and the
transactions contemplated herein;

 

		(m)	use all reasonable commercial efforts to satisfy (or cause the satisfaction of) the conditions
precedent to its obligations hereunder set forth in Article VI to the extent the same is within its control and take, or cause
to be taken, all other action and to do, or cause to be done, all other things necessary, proper or advisable under all applicable
laws to complete the Amalgamation, including using its reasonable commercial efforts to:

 

		(i)	obtain all necessary waivers, consents and approvals required to be obtained by it from other parties
to loan agreements, leases and other contracts;

 

    	- 21 -

     

    

 

		(ii)	obtain all necessary consents, approvals and authorizations as are required to be obtained by it
under any applicable laws;

 

		(iii)	effect all necessary registrations and filings and submissions of information requested by governmental
entities required to be effected by it in connection with the Amalgamation and participate and appear in any proceedings of either
party before governmental entities in connection with the Amalgamation;

 

		(iv)	oppose, lift or rescind any injunction or restraining order or other order or action seeking to
stop or otherwise adversely affect the ability of the parties to consummate the transactions contemplated hereby;

 

		(v)	fulfill all conditions and satisfy all provisions of this Agreement;

 

		(vi)	cooperate with the other parties to this Agreement in connection with the performance by ZoMedica
of its obligations hereunder; and

 

		(vii)	not take any action, refrain from taking any action or permit any action to be taken or not taken
that is inconsistent with this Agreement or that would reasonably be expected to significantly impede the consummation of the Amalgamation;

 

		(n)	not incur any material liabilities of any kind whatsoever, whether or not accrued and whether or
not determined or determinable, in respect of which ZoMedica may become liable on or after the date of Closing, except as set out
in ZoMedica's Financial Statements and except for those costs in the ordinary course of business and transaction costs incurred
prior to Closing which will be disclosed in writing to WOW at Closing;

 

		(o)	neither declare nor pay any dividends or other distributions or returns of capital on ZoMedica
Shares from the date of this Agreement until the Closing Date without the prior consent of WOW;

 

		(p)	upon Closing, pay a finder's fee in the amount of $20,000 to Everfront Capital Corp. (either in
cash or via the issuance of 80,000 Resulting Issuer Shares at a price of Cdn$0.25 per Resulting Issuer Share) as consideration
for introducing ZoMedica to WOW; and

 

		(q)	to file, duly and timely, all tax returns required to be filed by it and to pay promptly all taxes,
assessments and governmental charges which are claimed by any governmental authority to be due and owing and not to enter into
any agreement, waiver or other arrangement providing for an extension of time with respect to the filing of any tax return or the
payment or assessment of any tax, governmental charge or deficiency.

 

5.4               
ZoMedica's Covenant Regarding Non-Solicitation. ZoMedica agrees that it shall immediately cease and terminate any
discussion or negotiation regarding any alternative business combination or sale or purchase of material assets, and it shall not
provide any information regarding either WOW or ZoMedica to any other person regarding any such transaction and will not directly
or indirectly, and will not permit any of its directors, officers, employees, consultants, financial advisors or other representatives
to solicit, encourage, respond to or consider any other initiative or proposal regarding any business combination or sale of material
assets. ZoMedica agrees to promptly, and in any event within two business days, notify WOW of any proposal regarding a business
combination, takeover bid or other acquisition proposal or any inquiry or contact with any person with respect thereto, is received
by ZoMedica, and promptly inform WOW of all the material terms and conditions thereof and furnish to WOW copies of any written
acquisition proposal and the contents of any communications in response thereto. Notwithstanding the above, nothing in this clause
shall prevent the board of directors of ZoMedica from responding as required by applicable law to any unsolicited bona fide arm's
length offer, provided that ZoMedica shall promptly and fully inform WOW of the complete details thereof and any changes thereto.
The binding obligations of ZoMedica under this Section 5.4 shall apply so long as this Agreement remains in full force and effect.

 

    	- 22 -

     

    

Article
VI

CONDITIONS TO CLOSING

 

6.1               
Mutual Conditions Precedent. The respective obligations of the parties hereto to complete the transactions contemplated
hereunder are subject to the satisfaction, on or before the Closing Date, of the following conditions any of which may be waived
by the mutual consent of such parties without prejudice to their rights to rely on any other conditions contained herein:

 

		(a)	the Amalgamation and this Agreement shall have been approved by the directors of WOW Sub and ZoMedica,
and by WOW, in its capacity as sole shareholder of WOW Sub;

 

		(b)	the Amalgamation and this Agreement shall have been approved by the required majority of the votes
of the ZoMedica Shareholders who, being entitled to do so, vote in person or by proxy at the meeting of ZoMedica Shareholders in
accordance with the provisions of the Act;

 

		(c)	not more than 2% of the issued and outstanding ZoMedica Shares shall have exercised rights of dissent
in relation to the Amalgamation;

 

		(d)	the Resulting Issuer Shares to be issued pursuant to the terms set forth herein shall have been
accepted for listing by the TSXV, subject to the Resulting Issuer's fulfilling the TSXV's usual and ordinary listing requirements;

 

		(e)	the Private Placement shall have been completed to raise gross proceeds in an amount not less than
$2,000,000, or such other amount as may be necessary to satisfy the initial listing requirements of the TSXV set forth in Policy
2.4 of the TSXV Corporate Finance Manual;

 

		(f)	there shall not be in force any order or decree restraining or enjoining the consummation of the
transactions contemplated by this Agreement, including, without limitation, the Amalgamation;

 

		(g)	the TSXV shall have granted conditional approval in respect of the Amalgamation and related transactions,
including the issuance of the Resulting Issuer Shares to be issued to ZoMedica Shareholders pursuant to the Amalgamation;

 

		(h)	all other consents, orders and approvals, including, without limitation, regulatory approvals,
required or desirable for the completion of the transactions contemplated herein shall have been obtained or received from the
Person, authorities or bodies having jurisdiction in the circumstances, all on terms satisfactory to each of the parties hereto,
acting reasonably;

 

		(i)	any applicable TSXV escrow agreement shall have been entered into;

 

		(j)	upon Closing, all regulatory requirements shall have been or are capable of being satisfied, including
all requirements by the TSXV;

 

		(k)	the TSXV shall have approved the transfer within escrow of 2,000,000 WOW Shares in accordance with
the Founders' Shares Transfer Agreement;

 

		(l)	the board of directors of Amalco and the Resulting Issuer shall consist of those as set forth in
this Agreement; and

 

		(m)	if necessary, a sponsor for the transactions contemplated under this Agreement as the "Qualifying
Transaction" of WOW (within the meaning of Policy 2.4 of the TSXV Corporate Finance Manual) shall have conducted due
diligence and filed with the TSXV a satisfactory sponsorship report or the requirement for sponsorship shall have been waived by
the TSXV.

 

    	- 23 -

     

    

 

6.2               
Conditions Precedent to Obligations of ZoMedica. The obligations of ZoMedica to complete the transactions contemplated
hereunder shall be subject to the satisfaction of, or compliance with, at or before the Closing Date, each of the following conditions
precedent (each of which is hereby acknowledged to be for the exclusive benefit of ZoMedica and may be waived by ZoMedica in whole
or in part on or before the Closing Date):

 

		(a)	ZoMedica shall, on or before the Closing Date, have received from WOW all documents and instruments
as ZoMedica may reasonably request for the purpose of effecting the Amalgamation in accordance with the terms of this Agreement;

 

		(b)	all of the representations and warranties of WOW made in or pursuant to this Agreement shall be
true and correct in all material respects as at the Closing Date and with the same effect as if made at and as of the Closing Date
(except as such representations and warranties may be affected by the occurrence of events or transactions expressly contemplated
and permitted hereby and except as such representations and warranties may be affected by the occurrence of events or transactions
that are not materially adverse and arise in the ordinary course of business) and ZoMedica shall have received a certificate dated
as at the Closing Date in form satisfactory to ZoMedica and their solicitors, acting reasonably, signed by a senior officer or
director of WOW on behalf of WOW, certifying the truth and correctness in all material respects of the representations, warranties
and covenants of WOW set out in this Agreement;

 

		(c)	WOW shall have furnished ZoMedica with certified copies of: (i) the resolutions duly passed by
the boards of directors of WOW and WOW Sub approving this Agreement and the consummation of the transactions contemplated by this
Agreement; and (ii) the resolutions duly passed by the holders of WOW Shares approving the Name Change, the Consolidation and such
additional matters as deemed necessary or advisable (in the discretion of ZoMedica);

 

		(d)	WOW shall have performed and complied with all terms, covenants and conditions required by this
Agreement to be performed or complied with by it prior to or on the Closing Date;

 

		(e)	at the Closing Date, there shall have been no material adverse change in the condition (financial
or otherwise), properties, assets, liabilities, earnings, or business operations or prospects of WOW from that shown on or reflected
in WOW's Financial Statements;

 

		(f)	WOW's cash on hand as of November 30, 2015 (being approximately $150,000) shall (as of the Closing
Date) have been employed solely in connection with the going concern operations of WOW and the completion of the Transaction and
shall not have been expended for any other unauthorized purpose beyond the foregoing;

 

		(g)	all consents, approvals, orders and authorizations of any Persons or governmental authorities in
Canada or elsewhere, including but not limited to the TSXV (or registrations, declarations, filings or records with any such authorities),
including, without limitation, all such registrations, recordings and filings with such securities regulatory and other public
authorities as may be required to be obtained by WOW in connection with the execution of this Agreement, the Closing or the performance
of any of the terms and conditions hereof, shall have been obtained on or before the Closing Date;

 

		(h)	WOW shall be a reporting issuer in good standing in the provinces of Alberta, British Columbia
and Ontario and neither WOW nor its shares shall be the subject of any cease trade order or regulatory enquiry or investigation
in any jurisdiction;

 

		(i)	no more than 4,500,000 WOW Shares will be issued and outstanding in the capital of WOW, and no
more than 200,000 WOW Options and 250,000 WOW Broker Warrants will be outstanding;

 

		(j)	WOW shall have received the resignations of all of the current directors and officers and Gerald
Solensky Jr., James Lebar, William MacArthur and such further nominees as presented by ZoMedica shall be appointed or elected as
directors of WOW and Gerald Solensky Jr. shall be appointed as President and Chief Executive Officer of WOW;

 

    	- 24 -

     

    

 

		(k)	The Founders' Shares Transfer Agreement shall have been entered into among the holders of 2,000,000
WOW Shares and the purchasers thereof (as designated by ZoMedica) and such documentation as deemed necessary or advisable to give
effect to the transfer of such shares in accordance with the Founders' Shares Transfer Agreement shall have been delivered by the
vendors thereunder;

 

		(l)	upon Closing, all regulatory requirements shall have been or are capable of being satisfied, including
satisfaction of the Initial Listing Requirements of the TSXV and the requirements relating to completion of a "Qualifying
Transaction" within the meaning of Policy 2.4 of the TSXV Corporate Finance Manual;

 

		(m)	WOW shall deliver, or cause to be delivered to ZoMedica on or before the Closing Date such other
certificates, agreements or other documents as may reasonably be required by ZoMedica or its solicitors, acting reasonably, to
give full effect to this Agreement including, but not limited to, releases executed by each director and officer of WOW;

 

		(n)	at or prior to Closing, WOW and WOW Sub shall have filed all tax returns required to be filed by
them prior to the date hereof in all applicable jurisdictions and shall have paid, collected and remitted all taxes, customs duties,
tax installments, levies, assessments, reassessments, penalties, interest and fines due and payable, collectible or remittable
by them at such time. All such tax returns shall properly reflect, and shall not in any respect understate the income, taxable
income or the liability for taxes of WOW and WOW Sub in the relevant period and the liability of WOW and WOW Sub for the collection,
payment and remittance of tax under applicable Tax Laws; and

 

		(o)	upon Closing, WOW and WOW Sub shall have withheld and remitted all amounts required to be withheld
and remitted by it in respect of any taxes, governmental charges or assessments in respect of any taxable year or portion thereof
up to and including February 28, 2015.

 

6.3               
Conditions Precedent to Obligations of WOW. The obligation of WOW to complete the transactions contemplated hereunder
shall be subject to the satisfaction of or compliance with, at or before the Closing Date, each of the following conditions precedent
(each of which is hereby acknowledged to be for the exclusive benefit of WOW and may be waived by WOW in writing, in whole or in
part, on or before the Closing Date):

 

		(a)	WOW shall on or before the Closing Date have received from ZoMedica all other documents and instruments
as WOW may reasonably request for the purpose of effecting the Amalgamation in accordance with the terms of this Agreement;

 

		(b)	the representations, warranties and covenants of ZoMedica made in or pursuant to this Agreement
shall be true and correct in all material respects as at the Closing Date and with the same effect as if made at and as of the
Closing Date (except as such representations and warranties may be affected by the occurrence of events or transactions expressly
contemplated and permitted hereby and except as such representations and warranties may be affected by the occurrence of events
or transactions that are not materially adverse and arise in the ordinary course of business) and WOW shall have received a certificate
of ZoMedica dated as at the Closing Date in form satisfactory to WOW's solicitors, acting reasonably signed by a senior officer
or director of ZoMedica on behalf of ZoMedica, certifying the truth and correctness in all material respects of the representations,
warranties and covenants of ZoMedica set out in this Agreement;

 

		(c)	ZoMedica shall have furnished WOW with certified copies of: (i) the resolutions duly passed by
the boards of directors of ZoMedica approving this Agreement and the consummation of the transactions contemplated by this Agreement;
and (ii) the resolutions duly passed by the ZoMedica Shareholders approving the Amalgamation;

 

    	- 25 -

     

    

 

		(d)	ZoMedica shall have performed and complied with all terms, covenants and conditions required by
this Agreement to be performed and complied with by it prior to or on the Closing Date;

 

		(e)	at the Closing Date, there shall have been no material adverse change in the condition (financial
or otherwise), properties, assets, liabilities, earnings, or business operations or prospects of ZoMedica or ZoMedica Subsidiary
from that shown on or reflected in ZoMedica 's Financial Statements;

 

		(f)	all consents, approvals, orders and authorizations of any Persons or governmental authorities in
Canada or elsewhere, including but not limited to the TSXV (or registrations, declarations, filings or records with any such authorities),
including, without limitation, all such registrations, recordings and filings with such securities regulatory and other public
authorities as may be required to be obtained by ZoMedica in connection with the execution of this Agreement, the Closing or the
performance of any of the terms and conditions hereof, shall have been obtained on or before the Closing Date;

 

		(g)	upon Closing, all regulatory requirements shall have been or are capable of being satisfied, including
satisfaction of the Initial Listing Requirements of the TSXV and the requirements relating to completion of a "Qualifying
Transaction" within the meaning of Policy 2.4 of the TSXV Corporate Finance Manual;

 

		(h)	at or prior to Closing, ZoMedica and ZoMedica Subsidiary shall have filed all tax returns required
to be filed by them prior to the date hereof (as applicable) in all applicable jurisdictions and shall have paid, collected and
remitted all taxes, customs duties, tax installments, levies, assessments, reassessments, penalties, interest and fines due and
payable, collectible or remittable by them at such time. All such tax returns shall properly reflect, and shall not in any respect
understate the income, taxable income or the liability for taxes of ZoMedica and ZoMedica Subsidiary in the relevant period and
the liability of ZoMedica and ZoMedica Subsidiary for the collection, payment and remittance of tax under applicable Tax Laws;

 

		(i)	ZoMedica shall deliver, or cause to be delivered to WOW on or before the Closing Date such other
certificates, agreements or other documents as may reasonably be required by WOW or its solicitors, acting reasonably, to give
full effect to this Agreement; and

 

		(j)	upon Closing, ZoMedica shall have withheld and remitted all amounts required to be withheld and
remitted by it in respect of any taxes, governmental charges or assessments in respect of any taxable year or portion thereof up
to and including December 31, 2015.

 

6.4               
Notice and Effect of Failure to Comply with Conditions.

 

		(a)	Each of WOW and ZoMedica shall give prompt notice to the other of the occurrence, or failure to
occur, at any time from the date hereof to the Effective Date of any event or state of facts which occurrence or failure would,
or would be likely to: (i) cause any of the representations or warranties of such party contained herein to be untrue or inaccurate
in any material respect; or (ii) result in the failure to comply with or satisfy any covenant, condition or agreement to be complied
with or satisfied by any party hereunder; provided, however, that no such notification shall affect the representations or warranties
of the parties or the conditions to the obligations of the parties hereunder.

 

		(b)	If any of the conditions precedents set forth in Sections 6.1, 6.2 or 6.3 hereof will not be complied
with or waived by the party or parties for whose benefit such conditions are provided on or before the date required for the performance
thereof, then a party for whose benefit the condition precedent is provided may, in addition to any other remedies they may have
at law or equity, rescind and terminate this Agreement as provided for in Section 8.1 hereof provided that prior to the filing
of the Articles of Amalgamation, the party intending to rely thereon has delivered a written notice to the other party, specifying
in reasonable detail all breaches of covenants, representations and warranties or other matters which the party delivering such
notice is asserting as the basis for the non-fulfillment of the applicable conditions precedent and shall provide in such notice
that the other party shall be entitled to cure any breach of a covenant or representation and warranty or other matters within
five (5) Business Days after receipt of such notice (except that no cure period shall be provided for a breach which by its nature
cannot be cured and, in no event, shall any cure period extend beyond April 29, 2016. More than one such notice maybe delivered
by a party.

 

    	- 26 -

     

    

Article
VII

DEPOSIT

 

7.1               
Deposit. The parties acknowledge and agree that the Deposit is non-refundable, provided however, that WOW will be
obliged to repay the Deposit to ZoMedica in the event that:

 

		(a)	the TSXV refuses (if required in order to complete the Transaction) to extend the time permitted
for completion of Transaction;

 

		(b)	WOW fails to negotiate this Agreement and the ancillary documents and agreements contemplated herein
in good faith or to obtain the approval of its board of directors in respect of the Transaction in good faith;

 

		(c)	this Agreement is terminated by WOW in circumstances where the provisions of section 5.2 of this
Agreement have not been adhered to by WOW; or

 

		(d)	there occurs a material change in respect of WOW that is reasonably viewed (by ZoMedica, acting
reasonably) as having a material adverse effect on WOW or the Transaction.

 

Upon completion of the Transaction the Deposit
shall be applied towards expenses validly incurred for or on behalf of WOW in accordance with section 10.3 of this Agreement.

 

Article
VIII

TERMINATION OF AGREEMENT

 

8.1               
Rights of Termination. If any of the conditions contained in Article VI hereof shall not be fulfilled or performed
by April 29, 2016 (the "Termination Date") and such condition is contained in:

 

		(a)	Section 6.1 hereof, either of the parties hereby may terminate this Agreement by notice to the
other party;

 

		(b)	Section 6.2 hereof, ZoMedica may terminate this Agreement by notice to WOW;

 

		(c)	Section 6.3 hereof, WOW may terminate this Agreement by notice to ZoMedica;

 

If this Agreement is terminated as aforesaid,
the party terminating this Agreement shall be released from all obligations under this Agreement, all rights of specific performance
against such party shall terminate and, unless such party can show that the condition or conditions the non-performance of which
has caused such party to terminate this Agreement were reasonably capable of being performed by the other party, then the other
party shall also be released from all obligations hereunder; and further provided that any such conditions may be waived in full
or in part by either of the parties without prejudice to its rights of termination in the event of the non-fulfillment or non-performance
of any other condition.

 

8.2               
Notice of Unfulfilled Condition.  If either of ZoMedica or WOW shall determine at any time prior to the Effective
Date that it intends to refuse to consummate the Amalgamation or any of the other transactions contemplated hereby because of any
unfulfilled or unperformed condition contained in this Agreement on the part of the other of them to be fulfilled or performed,
ZoMedica or WOW, as the case may be, shall so notify the other of them forthwith upon making such determination in order that such
other of them shall have the right and opportunity to take such steps, at its own expense, as may be necessary for the purpose
of fulfilling or performing such condition within a reasonable period of time, but in no event later than the Termination Date.

 

    	- 27 -

     

    

 

8.3               
Mutual Termination. This Agreement may, at any time but no later than the last Business Day immediately preceding
the Effective Date, be terminated by mutual agreement of the directors of ZoMedica and WOW without further action on the part of
the ZoMedica Shareholders, and, if the Amalgamation does not become effective on or before the Termination Date, either ZoMedica
or WOW may unilaterally terminate this Agreement, which termination will be effective upon a resolution to that effect being passed
by its directors and notice thereof being given to the other of them.

 

Article
IX

AMENDMENT

 

9.1               
Amendment. This Agreement may at any time be amended by written agreement of the parties hereto without, subject
to applicable laws, further notice to or authorization on the part of the ZoMedica Shareholders and any such amendment may, without
limitation:

 

		(a)	change the time for performance of any of the obligations or acts of the parties;

 

		(b)	waive any inaccuracies or modify any representation or warranty contained herein or in any document
delivered pursuant hereto;

 

		(c)	waive compliance with or modify any of the covenants herein contained and waive or modify performance
of any of the obligations of the parties; or

 

		(d)	waive compliance with or modify any other conditions precedent contained herein;

 

provided that no such amendment reduces or materially
adversely affects the consideration to be received by a ZoMedica Shareholder without approval by the ZoMedica Shareholders given
in the same manner as required for the approval of the Amalgamation.

 

Article
X

GENERAL

 

10.1            
Confidentiality & Public Notices. Except where compliance with this Section 10.1 would result in a breach of
applicable law, notices, releases, statements and communications to Third Parties, including employees of the parties and the press,
relating to transactions contemplated by this Agreement will be made only in such manner as shall be authorized and approved by
ZoMedica, who when required, shall use its best efforts to provide such authorization and approval to WOW in a timely manner as
shall permit compliance by WOW with all continuous disclosure to any regulatory authority or obligations under any applicable securities
regulations. WOW and ZoMedica shall maintain the confidentiality of any information received from each other in connection with
the transactions contemplated by this Agreement. In the event that the issuance of the Resulting Issuer Shares provided for in
this Agreement is not consummated, each party shall return any confidential schedules, documents or other written information to
the party who provided same in connection with this Agreement. ZoMedica agrees that it will not, directly or indirectly, make reciprocal
use for its own purposes of any information or confidential data relating to WOW or WOW's Business discovered or acquired by it,
its representatives or accountants as a result of WOW making available to it, its representatives and accountants, any information,
books, accounts, records or other data and information relating to WOW or WOW's Business and ZoMedica agrees that it will not disclose,
divulge or communicate orally, in writing or otherwise (directly or indirectly), any such information or confidential data so discovered
or acquired by any other Person. WOW agrees that it will not, directly or indirectly, make reciprocal use for its own purposes
of any information or confidential data relating to ZoMedica discovered or acquired by it, its representatives or accountants as
a result of ZoMedica making available to it any information, books, accounts, records or other data and information relating to
ZoMedica and WOW agrees that it will not disclose, divulge or communicate orally, in writing or otherwise, any such information
or confidential data so discovered or acquired to any other Person.

 

    	- 28 -

     

    

 

10.2            
Notices. All notices or other communications required to be given in connection with this Agreement shall be given
in writing and shall be given by personal delivery or by transmittal by facsimile or other form of recorded communication addressed
to the recipient as follows:

 

To WOW and WOW Sub:

6012 – 85th Avenue

Edmonton, Alberta T6B 0J5

Attention: Kevin Russell, President and Chief Executive Officer

Facsimile No.: (780) 440-1377

  

with a copy to:

 

Parlee McLaws LLP 

1500 Manulife Place

10180 – 101st Street 

Edmonton, Alberta  T5J 4K1

 

Attention: David Tam 

Facsimile No.: (780) 423-2870

 

To ZoMedica:

ZoMedica Pharmaceuticals Inc.

3928 Varsity Drive

Ann Arbor, MI  48108

 

Attention: Mr. Gerald Solensky, Jr., President and Chief Executive Officer

Facsimile No.: (734) 436-8680

 

with a copy to:

Tingle Merrett LLP

1250, 639 – 5th Avenue S.W. 

Calgary, Alberta T2P 0M9

 

Attention: Paul Bolger 

Facsimile No.: (403) 571-8008

 

 

or to such other address, facsimile number or
individual as may be designated by notice given by either party to the other. Any such communication given by personal delivery
shall be conclusively deemed to have been given on the day of actual delivery thereof and, if given by facsimile or other form
of recorded communication, shall be deemed given and received on the date of such transmission if received during the normal business
hours of the recipient and on the next Business Day if it is received after the end of such normal business hours on the date of
its transmission. If the party giving any such communication knows or ought reasonably to know of any difficulties with the postal
system which might affect the delivery of mail, any such communication shall not be mailed but shall be given by personal delivery
or by facsimile transmittal.

 

10.3            Expenses.
Except as otherwise provided herein or as otherwise agreed to by the parties hereto, all costs and expenses (including, without
limitation, the fees and disbursements of legal counsel) incurred in connection with this Agreement and the transactions contemplated
hereby shall be paid by the party incurring such expenses.

 

    	- 29 -

     

    

 

10.4            Time of the Essence. Time shall be of the essence hereof.

 

10.5            Further
Assurances. The parties hereto shall with reasonable diligence do all such things and provide all such reasonable assurances
as may be required to consummate the transactions contemplated hereby, and each party shall execute and deliver such further documents,
instruments, papers and information as may be reasonably requested by another party hereto in order to carry out the purpose and
intent of this Agreement.

 

10.6            Law
and Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the Province of Alberta
and the laws of Canada applicable therein. The parties hereby attorn to the non-exclusive jurisdiction of the Courts of Alberta
in any dispute that may arise hereunder.

 

10.7            Counterparts.
For the convenience of the parties, this Agreement may be executed in several counterparts, each of which when so executed
shall be, and be deemed to be, an original instrument and such counterparts together shall constitute one and the same instrument
(and notwithstanding their date of execution shall be deemed to bear date as of the date of this Agreement). A signed facsimile
copy or electronically transmitted copy of this Agreement shall be effective and valid proof of execution and delivery.

 

10.8            Entire
Agreement. This Agreement, including the Schedules attached hereto, together with the agreements and other documents to be
delivered pursuant hereto, constitute the entire agreement between the parties pertaining to the subject matter hereof and supersedes
all prior agreements, understandings, negotiations and discussions, whether oral or written, of the parties and there are no warranties,
representations or other agreements between the parties in connection with the subject matter hereof except as specifically set
forth herein and therein. This Agreement may not be amended or modified in any respect except by written instrument signed by
all parties.

 

10.9            Severability.
The invalidity or unenforceability of any provision of this Agreement or any covenant herein contained shall not affect the
validity or enforceability of any other provision or covenant hereof or herein contained, and this Agreement shall be construed
as if such invalid or unenforceable provision or covenant were omitted.

 

10.10          Enurement.
This Agreement shall be binding upon and shall inure to the benefit of and be enforceable by the successors and permitted
assigns of the parties hereto.

 

10.11          Waivers.
The parties hereto may, by written agreement:

 

		(a)	extend the time for the performance of any of the obligations or other acts of the parties hereto;

 

		(b)	waive any inaccuracies in the warranties, representations, covenants or other undertakings contained
in this Agreement or in any document or certificate delivered pursuant to this agreement; or

 

		(c)	waive compliance with or modify any of the warranties, representations, covenants or other undertakings
or obligations contained in this Agreement and waive or modify performance by any of the parties thereto.

 

10.12          Form
of Documents. All documents to be executed and delivered by WOW to ZoMedica on the Closing Date shall be in form and substance
satisfactory to ZoMedica acting reasonably. All documents to be executed and delivered by ZoMedica to WOW on the Closing Date
shall be in a form and substance satisfactory to WOW, acting reasonably.

 

10.13          Construction
Clause. This Agreement has been negotiated and approved by counsel on behalf of all parties hereto and, notwithstanding any
rule or maxim of construction to the contrary, any ambiguity or uncertainty will not be construed against any party hereto by
reason of the authorship of any of the provisions hereof.

 

[the remainder of this page has been intentionally left blank]

 

 

    	- 30 -

     

    

IN WITNESS WHEREOF the parties hereto have executed this
Agreement as of the date first written above.

 

 

	 	 	ZOMEDICA PHARMACEUTICALS INC.
	 	 	 
	 	 	/s/ Gerald Solensky Jr.
	 	 	Name:  	Gerald Solensky Jr.
	 	 	Title:	President and Chief Executive Officer
	 	 	I have authority to bind the corporation.
	 	 	 
	 	 	 
	 	 	9674128 CANADA INC.
	 	 	 
	 	 	/s/ Kevin Russell
	 	 	Name:  	Kevin Russell
	 	 	Title:	President
	 	 	I have authority to bind the corporation.
	 	 	 
	 	 	 
	 	 	WISE OAKWOOD VENTURES INC.
	 	 	 
	 	 	/s/ Kevin Russell
	 	 	Name:  	Kevin Russell
	 	 	Title:	President and Chief Executive Officer
	 	 	I have authority to bind the corporation.

 

 

 

 

 

    - 31 -

     

    

Schedule "A"
– Articles of Amalgamation

 

	 
	 	 
	1 -- Name of the Amalgamated Corporation	Dénomination sociale de la société issue de la fusion
	Zomedica Pharmaceuticals Inc.
	2 -- The province or territory in Canada where the
registered office is to be situated 

(do not indicate the full address)	La province ou le territoire au Canada où se situera le siège social

(n’indiquez pas l’adresse complète)
	Alberta
	3 -- The classes and any maximum number of shares
that the corporation is authorized to issue	
        Catégories et tout nombre maximal d'actions que la
société est autorisée à émettre

         

	One class of shares, to be designated as "Common Voting Shares, in an unlimited number.
	4 -- Restrictions, if any, on share transfers	Restrictions sur le transfert des actions, s'il y a lieu
	None.
	5 – Minimum and maximum number of directors (for a fixed
number of directors, please indicate the same number in both boxes)	Nombre minimal et maximal d’administrateurs (pour un nombre
fixe, veuilles indiqer le même nombre dans les deux cases)
	Minimum:     
    1      Maximum:     10   	Minimal:     1      Maximal:     10   
	6 -- Restrictions, if any, on business the corporation may carry on	Limites imposées à I'activité commerciale de la société, s'il y a lieu
	None.
	7 -- Other provisions, if any	Autres dispositions, s'il y a lieu
	See the attached Schedule of Other Rules or Provisions.
	8 -- The amalgamation has been approved pursuant to that section
or subsection of the Act which is indicated as follows:	La fusion a été approuvée en accord avec
I'article ou le paragraphe de la Loi indiqué ci-après
	☒     183                         
☐      184(1)                           ☐     184(2)

 

	9 -- Declaration:  I
hereby certify that I am a director or an officer of the corporation.	Déclaration
:  J’atteste que je suis un administrateur ou un dirigeant de la société
	Name of the amalgamating corporations

Dénomination sociale des sociétés fusionnantes	
        Corporation No.

        

        No de la société

        
	
        

        Signature

        

	ZoMedica Pharmaceuticals Inc.	929475-9	 
	9674128 Canada Inc.	967412-8	 
	 	 	 
	
        Note:

         

        Misrepresentation constitues an offence and, on summary conviction,
        a person

        is liable to a fine not exceeding $5,000 or to imprisonment for a term not

        exceeding six months or both (subsection 250(1) of the CBCA).

         
	
        Nota :

         

        Faire une fausse déclaration constitue une
        infraction         et son auteur, sur déclaration de culpabilité par procédure sommaire, est passible
        d’une amende maximale de 5 000 $ ou d’un emprisonnement maximal de six mois, ou de ces deux peines (paragraph
        250(1) de la LCSA).

         

	IC 3190 (2008/09), Page 1	 	 	 

 

    	A-1

     

    

SCHEDULE OF OTHER RULES OR PROVISIONS

 

		(a)	The Directors of the Corporation may, between annual general meetings, appoint one or more additional
Directors of the Corporation to serve until the next annual general meeting, but the number of additional Directors shall not at
anytime exceed one-third of the number of Directors who held office at the expiration of the last annual general meeting of the
Corporation.

 

		(b)	The Corporation shall have a lien on the shares registered in the name of a Shareholder or his
legal representative for a debt of that Shareholder to the Corporation.

 

		(c)	The holder of a fractional share of the Corporation shall be entitled to exercise any voting rights
and to receive any dividend in respect of the fractional share.

 

 

 

 

    	A-2

     

    

Schedule "B"
WOW SECURITIES

 

 

WOW Options

 

	Name	Date Issued	No. of options	
        Exercise Price

         

        per share

         
	Expiry Date(1)	Vesting Requirement
	Kevin Russell	October 27, 2013	50,000	$0.10	October 27, 2018	n/a
	Randy Clifford	October 27, 2013	50,000	$0.10	October 27, 2018	n/a
	Eugene Sekora	October 27, 2013	50,000	$0.10	October 27, 2018	n/a
	Robert Strynadka	October 27, 2013	50,000	$0.10	October 27, 2018	n/a
	Total	 	200,000	 	 	 

Note:

(1)       Such WOW Options are
subject to earlier termination in accordance with the terms of grant thereof.

 

 

 

WOW Broker Warrants

 

	Name	Date Issued	No. of options	
        Exercise Price

         

        per share

         
	Expiry Date	Vesting Requirement
	Mackie Research Capital Corporation	October 27, 2013	250,000	$0.10	October 27, 2018	n/a
	Total	 	250,000	 	 	 

 

 

    	B-1

     

    

Schedule "C"
– ZOMEDICA SECURITIES

 

	Type of Security	Number
	
        ZoMedica Common Shares

         

         

         
	77,370,716 ZoMedica Shares(1)
	ZoMedica Options	•	1,000,000 stock options exercisable into ZoMedica Shares at an exercise price of $0.05 per share for a period of 5 years. 
	 	 	 
	 	•	3,500,000
stock options exercisable into ZoMedica Shares at an exercise price of $0.25 per share for a period of 2 years from completion
of the Amalgamation. 

Note:

(1)       Inclusive of ZoMedica
Shares issued pursuant to the Private Placement.

 

 

    	C-1

     

    

Schedule "D"
Material Contracts of ZoMedica

 

 

	•	CMO Manufacturing Agreements	 
	 	 	 
	•	CRO Master Research Agreement	 
	 	 	 
	 	 	 

 

 

 

 

    	D-1

     

    

Schedule "E"
SHAREHOLDERS IN THE UNITED STATES

 

-List Attached To Executed Agreement-

 

(Omitted for privacy considerations)

 

 

 

 

 

 

 

 

 

E-1Exhibit 10.3

 

 

EXECUTIVE EMPLOYMENT AGREEMENT

 

THIS AGREEMENT is made effective as
of the 1st day of December, 2016.

 

BETWEEN:

 

ZOMEDICA PHARMACEUTICALS CORP., a body corporate duly incorporated
pursuant to the laws of the Province of Alberta and having its registered office in the City of Calgary, in the Province of Alberta
(hereinafter referred to as the "Corporation")

 

- and -

 

GERALD SOLENSKY JR., an individual residing in the City
of Fenton, Michigan, USA (hereinafter referred to as the "Executive")

 

 

ARTICLE
1

INTERPRETATION

 

		1.1	The phrase "this Agreement" shall include all terms and provisions of this agreement
in writing between the parties hereto, including the recitals.

 

		1.2	Wherever in this Agreement the masculine, feminine or neuter gender is used, it shall be construed
as including all genders, as the context so requires; and wherever the singular number is used, it shall be deemed to include the
plural and vice versa, where the context so requires.

 

		1.3	Time shall in all respects be of the essence of this Agreement.

 

		1.4	The division of this Agreement into Articles, Sections and subsections or any other divisions and
the inclusion of headings are for convenience only and shall not affect the construction or interpretation of all or any part hereof.

 

		1.5	Each party's rights may be exercised concurrently or separately and the exercise of any one remedy
shall not be deemed an exclusive election of such remedy or preclude the exercise of any other remedy.

 

ARTICLE
2

TERM OF AGREEMENT

 

		2.1	The term of this Agreement (the "Term") will begin on the date first written above (the
"Effective Date") and continue for an indefinite period, unless terminated earlier in accordance with this Agreement.

 

     

     

    

 

ARTICLE
3

EMPLOYMENT OF THE EXECUTIVE

 

		3.1	The Corporation wishes to employ at the Effective Date the Executive as its President and Chief
Executive Officer and the Executive wishes to be employed at the Effective Date by the Corporation on the terms and conditions
set forth herein.

 

		3.2	The Executive shall report directly to the Corporation's Board of Directors (the "Board")
and all other employees of the Corporation and each other corporation or other organization which is controlled directly or indirectly
by the Corporation (each an "Affiliate" and collectively the "Affiliates") shall report directly or indirectly
to the Executive.

 

ARTICLE
4

PERFORMANCE OF DUTIES

 

		4.1	The Executive agrees to devote his business time, attention, skill and efforts to the faithful
performance and discharge of his duties and responsibilities as the President and Chief Executive Officer of the Corporation in
conformity with professional standards, in a prudent and workmanlike manner and in a manner consistent with the obligations imposed
under applicable law. The Executive shall promote the interests of the Corporation and its Affiliates in carrying out the Executive's
duties and responsibilities and shall not deliberately and knowingly take any action, or fail to take any action which failure
could, or reasonably be expected to, have a material and adverse effect on the business of the Corporation or any of its Affiliates.

 

		4.2	The Executive and the Corporation agree that the Executive's principal place of business initially
will be at the Corporation's office in Michigan and, further, that any reassignment of his principal place of business will be
to a place in the United States mutually agreed upon by the Executive and the Board. The Executive understands that his duties
and responsibilities will require him to travel on a regular basis to Canada as well as to other locations in the world from time
to time to further the business and interests of the Corporation.

 

		4.3	The Executive discloses, represents and affirms that he has no obligation toward any person or
entity, including former employers, that would be incompatible with this Agreement or that could create an impediment to or conflict
of interest with the performance of his duties with the Corporation and its affiliates.

 

		4.4	The Executive shall be appointed as, or nominated for election as, and recommended for election
as, a member of the Board at all meetings of shareholders held for such purposes. The Executive also shall be appointed as the
President and Chief Executive Officer of the Corporation's Affiliate, ZoMedica Pharmaceuticals Inc. The Executive shall receive
no compensation for his services under this Section 4.4 in addition to his compensation otherwise payable under this Agreement.

 

		4.5	The Corporation and the Executive agree that the Executive may continue to sit upon the board of
directors of any corporations or organizations on which he serves on the Effective Date as long as the Chairman of the Corporate
Governance Committee of the Board and the Executive mutually agree that his membership on any such board of directors does not
unreasonably interfere with the performance of Executive's duties and responsibilities under this Agreement and, solely with the
prior written authorization of the Board, the Executive may serve on any other board of directors.

 

    	- 2 -

     

    

 

ARTICLE
5

COMPENSATION

 

		5.1	Annual Base Salary. The Corporation shall pay the Executive a base annual salary (the "Base
Salary") which initially shall be TWO HUNDRED AND EIGHTY FIVE THOUSAND DOLLARS US (US$285,000), subject to applicable taxable
withholding and deductions and payable in accordance with the Corporation's standard payroll practice for executive officers. The
Base Salary shall be reviewed annually by the Board or a committee of the Board and may be increased in accordance with the Corporation's
compensation policy. Finally, all or part of the Executive's Base Salary may be paid through the Affiliate doing business at his
principal place of business to facilitate proper tax withholding for the Executive and his participation in the employee benefit
plans.

 

		5.2	Quarterly Cash Bonus. The Executive shall be eligible to earn a quarterly cash bonus (the
"Quarterly Bonus"). Such Quarterly Bonus will be calculated upon the achievement of performance objectives that will
be established by the Board (as recommended by the Corporation's Compensation Committee) within thirty (30) days prior to the beginning
of a fiscal year. For 2016, any Quarterly Bonus awarded will be based upon performance objectives established by the (as recommended
by the Corporation's Compensation Committee) and subject to proration for the period of service from the Effective Date through
the end of 2016. The granting of a Quarterly Bonus is also based on the business performance of the Corporation and subject to
approval by the Board. The Quarterly Bonus, if any, payable for any calendar year shall be paid no later than 30 days following
each Quarter. Finally, if the Executive's employment terminates (other than for Cause) on or after July 1 of a calendar year, he
shall be entitled to the payment of a prorata part of any Quarterly Bonus, which would have been payable if he had continued to
be employed by the Corporation through the end of such calendar year.

 

		5.3	Car Allowance. The Corporation shall pay the Executive a monthly, taxable car allowance
of NINE HUNDRED US DOLLARS (US$900.00), payable in accordance with the Corporation's policy as it applies to executives. The Corporation
shall assume and pay all related operating costs of the vehicle, including insurance, registration, maintenance, repairs and fuel
expenses.

 

		5.4	Business Expenses. The Corporation shall reimburse the Executive, upon presentation of valid
receipts or vouchers, for reasonable entertainment, travel and other business expenses, incurred on behalf of or at the request
of the Corporation or an Affiliate and which are in accordance with the Corporation's policies and rules; provided, however:
(a) the amount of such expenses eligible for reimbursement in any calendar year shall not affect the expenses eligible for reimbursement
in another calendar year; (b) no right to such reimbursement may be exchanged or liquidated for another benefit or payment;
and (c) any reimbursements of such expenses shall be made as soon as practicable under the circumstances, but in any event no later
than the end of the calendar year following the calendar year in which the related expenses are incurred by the Executive.

 

		5.5	OTHER BENEFITS. Subject to eligibility requirements and participation rules, the Executive
may participate in all of the employee benefit plans maintained by the Corporation and its Affiliates that are available to employees
whose principal place of business is the same as the Executive's principal place of business.

 

ARTICLE
6

VACATION

 

		6.1	The Executive shall be entitled to a paid annual vacation of four (4) weeks in accordance with
the Corporation's vacation policy for executives. The Executive agrees that exercise of the vacation benefit shall be prearranged
in consultation with the Chairman of the Compensation Committee of the Board. The full annual vacation benefit shall be extended
to the Executive for 2017.

 

    	- 3 -

     

    

 

ARTICLE
7

STOCK OPTIONS

 

		7.1	Stock Options. In addition to the Base Salary, Quarterly Bonuses, benefits and other compensation
contemplated hereunder, the Executive shall also be eligible to receive grants of stock options from the Corporation, from time
to time, to the extent determined by the Board of Directors at its sole discretion, which options shall vest in accordance with
a schedule to be determined by the Board of Directors at its sole discretion, and which shall have an exercise price equal to the
market price of the Corporation's common shares on the date of grant, or such higher price as may be required by any stock exchange
on which the shares of the Corporation are listed, or if the Corporation is not publicly traded, at such a price as shall be determined
by the Board of Directors in its sole discretion. Any options granted to the Executive by the Board of Directors of the Corporation,
or pursuant to the terms of this Agreement, may be exercised only in accordance with the terms and conditions of the Stock Option
Agreement that is entered into in connection therewith.

 

		7.2	Accelerated Vesting. Subject to regulatory approval, the Corporation covenants and agrees
that any Stock Option Agreements between the Corporation and the Executive shall provide that all stock options held by the Executive,
whether vested or unvested, shall immediately vest and be exercisable by the Executive:

 

		(a)	upon a Change of Control as that term is defined herein; or

 

		(b)	upon a Resolution of the Board of Directors of the Corporation to such effect if the Board determines
that there is expected to be a Change of Control which in the opinion of the Board warrants altering the vesting provisions of
the stock options; or

 

		(c)	upon a termination by the Corporation without Cause as more specifically provided for in Article
8.2; or

 

		(d)	the resignation by the Executive for Good Reason, as more specifically provided for in Article
8.3.

 

		7.3	Rules of the Stock Exchanges. The Corporation and the Executive expressly acknowledge and
agree that all options to purchase shares of the Corporation to which the Executive shall be entitled hereunder, and any changes
to such options (including, without limitation, changes provided for in this Agreement), shall be subject to the approval and the
regulations, policies and by-laws of each of the stock exchanges on which the common voting shares of the Corporation are then
listed. The Corporation covenants to use its reasonable commercial efforts to obtain any such approvals and to ensure that all
options are in compliance with such regulations, policies and by-laws.

 

ARTICLE
8

TERMINATION

 

		8.1	At-Will Employment. Nothing in this Agreement shall be construed to alter the atwill employment
relationship between the Corporation and the Executive. Subject to the terms set forth in this Agreement, either the Corporation
or the Executive may terminate the Executive's employment at any time for any reason, with or without Cause, as defined in Section
8.2 below.

 

		8.2	Termination for Cause. The Executive's employment may be terminated by the Corporation upon
simple notice in writing transmitted to the Executive, without the Corporation (or any of its Affiliates) being bound to pay any
compensation whatsoever if termination is for any of the following reasons, each of which constitutes cause (hereinafter, "Cause"):

 

    	- 4 -

     

    

 

		(a)	The Executive is declared bankrupt or insolvent or is placed under protective supervision, which
situations the Executive acknowledges to be incompatible with the continuation of his employment.

 

		(b)	The Executive becomes physically or mentally disabled to such an extent as to make him unable to
perform the essential functions of his duties normally and adequately for an aggregate of six (6) months during a period of twelve
(12) consecutive months. In such a case, the Executive may continue to benefit under shortterm and longterm disability insurance
plans, subject to the terms of such plans, if any. The Corporation's ability to terminate the Executive as a result of any disability
shall be to the extent permitted by applicable state or federal law.

 

		(c)	The Executive breaches the terms of this Agreement.

 

		(d)	The Executive fundamentally or materially fails to perform his duties as President and Chief Executive
Officer of the Corporation and/or as President and Chief Executive Officer of ZoMedica Pharmaceuticals Inc. (a Delaware company).

 

		(e)	There is a conclusive determination that the Executive has committed any fraud, theft, embezzlement
or other criminal act of a similar nature.

 

		(f)	The Executive has committed serious misconduct or willful or gross negligence in the performance
of his duties.

 

		(g)	The Executive fails or refuses to follow reasonable directives of the Board.

 

		(h)	The Executive engages in willful or reckless conduct, causing material damage to the Corporation
(or its Affiliates) or the Corporation's (or its Affiliates') business.

 

		(i)	The Executive misuses or abuses alcohol, drugs or controlled substances.

 

		(j)	The Executive uses or discloses in an unauthorized way the Corporation's (or any of its Affiliates')
confidential or trade secret information.

 

		(k)	The Executive conducts himself publicly, by speech or behavior, in such a manner as to cause public
embarrassment, scandal or ridicule to the Corporation, any of its affiliates or any of their employees.

 

Provided, however, no reason set forth
in this Section 8.2 shall constitute Cause unless (1) the Executive upon notice is given a reasonable period to effect a cure or
a correction; (2) the reason is curable or correctible as determined by the Board; and, (3) the reason clearly and adversely
affects the Executive's ability to continue to perform his duties and responsibilities under this Agreement.

 

		8.3	Good Reason. The Executive
shall have the right to resign at any time for any of the following reasons, each of which shall constitute Good Reason:

 

		(a)	A material reduction of the Executive's total compensation (including his Base Salary, Quarterly
Bonus opportunities, benefits and stock option grant opportunities) as in effect on the Effective Date or as thereafter increased
from time to time, provided such reduction is not warranted and due to company performance.

 

    	- 5 -

     

    

 

		(b)	Any change in the Executive's direct reporting relationship to the Board.

 

		(c)	Any reduction (absent the Executive's express, written consent) in the Executive's duties and responsibilities
as the Corporation's President and Chief Executive Officer.

 

		(d)	A physical change of one hundred miles or more in the Executive's principal place of business absent
his express, written consent.

 

Provided, however, no reason set forth
in this Section 8.3 shall constitute Good Reason unless the Corporation upon express, written notice is given a reasonable period
to effect a cure or a correction.

 

		8.4	Termination by Death. In the event of the Executive's death during his period of employment,
the Corporation's obligation to make payments under this Agreement shall terminate on the date of death, except the Corporation
shall pay the Executive's estate or surviving designated beneficiary or beneficiaries, as appropriate, any earned but unpaid salary
and bonus and reimburse business expenses incurred but not reimbursed as of his date of death. Vesting of any stock options outstanding
on the date of death shall be exercisable only to the extent the Executive's right to exercise was vested on his date of death.

 

		8.5	Voluntary Termination. If the event Executive wishes to resign for any reason other than
Good Reason or the Corporation wishes to terminate his employment without Cause, the Executive shall give, or receive, as applicable
at least thirty (30) days prior written notice of such resignation or termination, whichever is applicable. Any such notice shall
not relieve either the Executive or the Corporation of their mutual obligations to perform under this Agreement or to relieve the
Corporation to compensate the Executive during such notice period for any earned but unpaid salary and bonus and reimburse business
expenses incurred but not reimbursed as of his date of termination.

 

		8.6	Termination Without Cause Or Resignation For Good Reason. In the event that the Executive
has a "separation from service" within the meaning of a §409A of the US Internal Revenue Code of 1986, as amended
(a "Separation from Service") as a result of the Corporation terminating the Executive's employment without Cause or
the Executive resigning for Good Reason, (1) Executive's right to exercise all then outstanding stock options granted to him shall
fully and immediately vest on the effective date of his Separation from Service; (2) the Corporation shall pay to Executive
in a lump sum (less applicable tax withholdings) an amount equal to: (i) twelve (12) months Base Salary
(paid  in  accordance  with  the  Corporation's usual
payroll procedures); and (ii) any Quarterly Bonus allocable or payable
prior to the date of termination.

 

ARTICLE
9

CHANGE OF CONTROL

 

		9.1	For purposes of this Section 9, a "Change of Control" shall be deemed to have occurred
in any of the following circumstances:

 

		(a)	Subject to the exceptions set forth in Schedule A attached hereto and incorporated
within, upon the purchase or acquisition, in one or more transactions, by a Person or one or more Persons who are affiliates of
one another or who are acting jointly or in concert (as such expressions are defined in the Securities Act (Alberta) (the
"Acquiring Person") of a beneficial interest in securities of the Corporation representing in any circumstance fifty
percent (50%) or more of the voting rights attaching to the then outstanding securities of the Corporation; or

 

    	- 6 -

     

    

 

		(b)	upon a sale or other disposition of all or substantially all of the Corporation's assets;
or

 

		(c)	upon a plan of liquidation or dissolution of the Corporation; or

 

		(d)	if, for any reason, including an amalgamation, merger or consolidation
of the Corporation with or into another company, the individuals who at the date hereof constitute the Board (and any new directors
whose appointments by the Board or whose nomination for election by the Corporation's shareholders was approved by a vote of at
least twothirds (2/3) of the directors then still in office who either were directors at the date hereof or whose appointment or
nomination for election was previously so approved cease to constitute a majority of members of the Board; or,

 

		(e)	upon termination of Executive either without Cause or by resignation for Good Reason.

 

		9.2	If the Executive has a Separation from Service (within the meaning of a §409A of the US Internal
Revenue Code of 1986, as amended (a "Separation from Service") within twelve (12) months following a Change of Control
as a result of a termination of his employment by the Corporation without Cause or his resignation for Good Reason, the Executive
shall receive the following:

 

		(a)	An amount equivalent to: (i) twelve (12) months of his then annual Base
Salary; and (ii) any Quarterly Bonus allocable or payable prior
to the date of termination..

 

		(b)	The Executive's right to exercise all then outstanding stock options granted
to him shall fully and immediately vest on the date of his Separation from Service and any outstanding and unpaid Quarterly Bonus.

 

		9.3	The Corporation shall pay to the Executive in a lump sum in US dollars within ten (10) business
days after the effective date of his Separation from Service following a Change of Control, the amounts described in 9.2 of this
Section 9. In the event the Executive dies before he has received payment of these amounts, the Corporation will pay these amounts
to his estate or surviving designated beneficiary or beneficiaries, as appropriate.

 

ARTICLE
10

CONFIDENTIALITY

 

		10.1	The Executive acknowledges that he has received and will receive or conceive, in carrying on or
in the course of his work during his employment with the Corporation, confidential information pertaining to the activities, the
technologies, the operations and the business, past, present and future, of the Corporation or its affiliates or related or associated
companies, which information is not in the public domain. The Executive acknowledges that such confidential information belongs
to the Corporation and/or its affiliates and that its disclosure or unauthorized use could be damaging or prejudicial to the Corporation
and/or its affiliates and contrary to their best interests.

 

		10.2	Accordingly, the Executive agrees to respect the confidentiality of such information and not to
make use of or disclose it to, or to discuss it with, any person, other than in the ordinary course of his duties with the Corporation
and its Affiliates, or as required under applicable law, without the explicit prior written authorization of the Corporation.

 

    	- 7 -

     

    

 

		10.3	This undertaking to respect the confidentiality of such information and not to make use of or disclose
or discuss it to or with any person shall survive and continue to have full effect notwithstanding the termination of the Executive's
employment with the Corporation, so long as such confidential information does not become public as a result of an act by the Corporation
or a third party, which act does not involve the fault of one of its executives.

 

		10.4	The term confidential information includes, among other things:

 

		(a)	products, formulae, processes and composition of products, as well as raw materials and ingredients,
of whatever kind, that are used in their manufacture;

 

		(b)	technical knowledge and methods, quality control processes, inspection methods, laboratory and
testing methods, information processing programs and systems, manufacturing processes, plans, drawings, tests, test reports and
software;

 

		(c)	equipment, machinery, devices, tools, instruments and accessories;

 

		(d)	financial information, production cost data, marketing strategies, raw materials supplies, suppliers,
staff and client lists and related information, marketing plans, sales techniques and policies, including pricing policies, sales
and distribution data and present and future expansion plans; and

 

		(e)	research, experiments, inventions, discoveries, developments, improvements, ideas, industrial secrets
and knowhow.

 

		10.5	The Executive agrees to keep confidential and not disclose to any third party both the existence
and the terms of this Agreement, except if disclosure is required by regulation or law. In the event that the Executive is required
to disclose the existence or terms of this Agreement pursuant to subpoena or other duly issued court order, Executive shall give
prompt notice to the Corporation of such subpoena or court order to allow the Corporation sufficient opportunity to contest such
subpoena or court order.

 

ARTICLE
11

NON-SOLICITATION OF OFFERS

 

		11.1	The Executive shall not compete with the Corporation nor with any of its Affiliates, directly or
indirectly. He shall not participate in any capacity whatsoever in a business that would directly or indirectly compete with the
Corporation or with any of its Affiliates, including, without limitation, as an executive, director, officer, employer, principal,
agent, fiduciary, administrator of another's property, associate, independent contractor, franchisor, franchisee, distributor or
consultant unless such participation is fully disclosed to the Board and approved in writing in advance. In addition, the Executive
shall not have any interest whatsoever in such an enterprise, including, without limitation, as owner, shareholder, partner, limited
partner, lender or silent partner. This noncompetition covenant is limited as follows:

 

		(a)	As to the time period, to the duration of the Executive's employment and for a period of
one (1) year following the date of termination of his employment;

 

		(b)	As to the geographical area, the territory in which a specific product had been actively
exploited by the Corporation and/or its Affiliates during the twelve (12) months preceding the employment termination date;

 

    	- 8 -

     

    

 

		(c)	As to the nature of the activities, to duties or activities which are identical or substantially
similar to those performed or carried on by the Executive at or during the twelve (12) months preceding the employment termination
date.

 

		11.2	The foregoing stipulation shall nevertheless not prevent the Executive from buying or holding shares
or other securities of a corporation or entity other than the Corporation whose securities are publicly traded on a recognized
stock exchange where the securities so held by the Executive do not represent more than five percent (5%) of the voting shares
of such other corporation or entity and do not allow for its control.

 

		11.3	The Executive also undertakes, for the same period and in respect of the same territory referred
to hereinabove in subsections 11.1(a), (b) and (c), not to solicit clients or do anything whatsoever to induce or to lead any person
to end, in whole or in part, business relations with the Corporation or any of its affiliates.

 

		11.4	The Executive also undertakes, for the same period and in respect of the same territory referred
to hereinabove in subsections 11.1(a), (b) and (c), not to induce, attempt to induce or otherwise interfere in the relations which
the Corporation or which any of its affiliates has with their distributors, suppliers, representatives, agents and other parties
with whom the Corporation or any of its affiliates deals.

 

		11.5	The Executive also undertakes, for the same period and in respect of the same territory referred
to in subsections 11.1(a), (b) and (c), not to induce, attempt to induce or otherwise solicit the personnel of the Corporation
to leave their employment with the Corporation or any of its Affiliates nor to hire the personnel of the Corporation or any of
its Affiliates for any enterprise in which the Executive has an interest.

 

		11.6	The Executive acknowledges that the provisions of this Section 11 are limited as to the time period,
the geographic area and the nature of the activities to what the parties deem necessary to protect the legitimate interests of
the Corporation and its Affiliates, while allowing the Executive to earn his living.

 

		11.7	Nothing in this Section 11 shall operate to reduce or extinguish the obligations of the Executive
arising at law or under this contract which survive at the termination of this Agreement in reason of their nature and, in particular,
without limiting the foregoing, the Executive's duty of loyalty and obligation to act faithfully, honestly and ethically.

 

ARTICLE
12

OWNERSHIP OF INTELLECTUAL PROPERTY

 

		12.1	The Executive hereby assigns and agrees to assign to the Corporation all of his intellectual property
rights as of their creation and to make full and prompt disclosure to the Corporation of all information relating to anything made
or designed by him or that may be made or designed by him during the period of his employment, whether alone or jointly with other
persons, or within a period of two (2) years following the termination of his employment and resulting from or arising out of any
work performed by the Executive on behalf of the Corporation (or its affiliates) or connected with any matter relating or possibly
relating to any business in which the Corporation or any of its affiliates or related or associated companies is involved unless
specifically released from such obligation in writing by the Corporation's Board of Directors.

 

		12.2	In addition, the Executive renounces all moral rights in any document or work realized during the
period of his employment related to his employment by the Corporation. The Executive acknowledges that the Corporation has the
right to use, modify or reproduce any such document or work realized by the Executive, at its entire discretion, without the Executive's
authorization and without his name being mentioned.

 

    	- 9 -

     

    

 

		12.3	At any time during the period of his employment or after the termination of his employment, the
Executive shall sign, acknowledge and deliver, at the Corporation's expense, but without compensation other than a reasonable sum
for his time devoted thereto if his employment has then terminated, any document required by the Corporation to give effect to
Section 12.1, including patent applications and documents evidencing the assignment of ownership. The Executive shall also provide
such other assistance as the Corporation or one of its affiliates may require with respect to any proceeding or litigation relating
to the protection or defense of intellectual property rights belonging to the Corporation or any of its affiliates. The entirety
of this Section 12 shall be binding on the Executive's heirs, assignees and legal representatives.

 

ARTICLE
13

OWNERSHIP OF FILES AND OTHER PROPERTY

 

		13.1	Any property of the Corporation, including any file, sketch, drawing, letter, report, memorandum
or other document, any equipment, machinery, tool, instrument or other device, any diskette, recording tape, compact disc, software,
electronic communication device or any other property, which comes into the Executive's control or possession during his employment
with the Corporation in the performance or in the course of his duties, regardless of whether he has participated in its preparation
or design, how it may have come under his control or into his possession and whether it is an original or a copy, shall at all
times remain the property of the Corporation and, upon the termination of the Executive's employment, shall promptly be returned
to the Corporation or its designated representative.. The Executive may not keep a copy or give one to a third party without the
prior expressly written permission of the Board of Directors.

 

ARTICLE
14

ENTIRE AGREEMENT AND TERMINATION OF PRIOR CONTRACTS

 

		14.1	This Agreement contains the entire understanding of the parties with respect to the matters contained
or referred to herein. There are no promises, covenants or undertakings by either party hereto to the other, other than those expressly
set forth herein. This Agreement supersedes and replaces any earlier agreement, whether oral or in writing or partly oral and partly
in writing, between the parties hereto, or between any party hereto and the corporate representative of any other party hereto,
respecting the provision of services by the Executive to the Corporation.

 

ARTICLE
15

AMENDMENT OF THE AGREEMENT

 

		15.1	To be valid and enforceable, any amendment to this Agreement must be confirmed in writing by each
of the Corporation and the Executive.

 

ARTICLE
16

NOTICES

 

		16.1	Any notice given hereunder shall be given in writing and sent by registered or certified mail or
handdelivered. If such notice is sent by registered or certified mail, it shall be deemed to have been received five (5) business
days following the date of its mailing if the postal services are working normally. If such is not the case, the notice must be
handdelivered or served by bailiff, at the discretion of the sender. In the case of handdelivery or service, the notice shall be
deemed to have been received the same day. It is agreed that if the delivery date is a non business day, the notice shall be deemed
to have been received on the following business day.

 

    	- 10 -

     

    

 

		16.2	For purposes of mailed or handdelivered notices to be effectively delivered under this provision,
the notices must be addressed as follows:

 

		(a)	For the Corporation: 1250, 639 – 5th Avenue S.W., Calgary, Alberta T2P 0M9.

 

		(b)	For the Executive: Gerald L. Solensky Jr., [civic address redacted for privacy reasons], Michigan,
USA.

 

ARTICLE
17

INDEMNITY AND INSURANCE

 

		17.1	The Corporation covenants, both during and after the Executive's term of service, to indemnify
and hold harmless the Executive and his heirs and legal representatives, to the maximum extent permitted by the Business Corporations
Act (Alberta) (provided that the Executive acted honestly and in good faith with a view to the best interests of the Corporation
and, in the case of a criminal or administrative action or proceeding that is enforced by monetary penalty, the Executive had reasonable
grounds for believing that his conduct was lawful), from and against:

 

		(a)	all costs, charges, liabilities and expenses whatsoever that the Executive may sustain or incur
in or about or in relation to any action, suit or proceeding that is brought, commenced or prosecuted against the Executive for
or in respect of any act, deed, matter or thing whatever made, done or permitted or not made, done or permitted by the Executive
in or about the execution of his duties as a director or officer of the Corporation or its subsidiaries; and

 

		(b)	all other costs, charges, liabilities and expenses that the Executive may sustain or incur (including,
without limitation, all income tax, sales tax and excise tax liabilities resulting from any payment made pursuant to this indemnity)
in or about or in relation to the affairs of the Corporation or its subsidiaries or his position as a director or officer of the
Corporation or its subsidiaries.

 

		17.2	The Corporation further agrees that any costs, charges and expenses referred to in paragraph 17.1(a)
above shall be paid in advance of the final disposition of any such action or proceeding upon receipt by the Corporation of a written
undertaking by the Executive to repay such amount if it shall ultimately be determined that the Executive is not entitled to be
indemnified in accordance with the terms and conditions of this Indemnity and the Business Corporations Act (Alberta).

 

		17.3	The Corporation further agrees, both during and after the Executive's term of service, to use its
reasonable best efforts to obtain any approval or approvals necessary for such indemnification and to co-operate with the Executive
and to provide the Executive with access to any evidence which the Corporation may have or control, which would enable the Executive
to make application or obtain any approval or approvals necessary for such indemnification.

 

ARTICLE
18

SUCCESSORS

 

		18.1	This Agreement shall be binding on the successors, heirs, assignees and legal representatives of
all of the parties hereto.

 

    	- 11 -

     

    

 

ARTICLE
19

JURISDICTION

 

		19.1	This Agreement shall be governed by and interpreted in accordance with the laws, including conflicts
of laws, by the State of Delaware in the United States of America. Each of the parties hereby irrevocably attorns to the jurisdiction
of the Courts of the State of Delaware with respect to any matters arising out of this Agreement.

 

ARTICLE
20

SEVERABILITY

 

		20.1	If any provision of this Agreement or the application thereof is held invalid, the invalidity shall
not affect other provisions or applications of this Agreement, which can be given effect without the invalid provisions or applications
and, to this end, the provisions of this Agreement are declared to be severable.

 

ARTICLE
21

MEDIATION

 

		21.1	The Corporation and the Executive hereby expressly agree that with respect to any dispute arising
under this Agreement, such dispute shall be resolved through binding mediation. Any such mediation shall: (1) take place at a location
mutually agreed upon by the Corporation and the Executive; and (2) be conducted by a recognized panel of three professional
mediators or which can be comprised of three experienced business experts from the pharmaceutical or biotechnical industry mutually
agreed upon by the Corporation and the Executive. With respect to any such mediation panel, one mediator shall be selected by the
Corporation, one mediator shall be selected by the Executive, and one mediator shall be selected by mutual agreement between the
Corporation and the Executive. Each of the parties hereto shall bear their own, respective costs of such mediation.

 

ARTICLE
22

LANGUAGE

 

		22.1	All of the parties hereto expressly agree that this Agreement be drafted, read and interpreted
in the English language.

 

ARTICLE
23

GENERAL

 

		23.1	This Agreement and the obligations of the Executive hereunder shall not be assigned by either party
hereto, in whole or in part, without the prior consent of the other party hereto, which consent may be withheld for any reason.

 

		23.2	Each party shall do and perform all such acts and things and execute and deliver all such instruments
and documents and writings and give all such further assurances as may be necessary to give full effect to the provisions and intent
of this Agreement.

 

		23.3	The Executive agrees that after termination of employment hereunder for any reason whatsoever,
he will tender his resignation from any position he may hold as an officer or director of the Corporation or its Affiliates.

 

		23.4	In the event of a Change of Control, the Corporation will use its reasonable commercial efforts
to obtain and pay for directors' and officers' liability insurance on a "trailing" or "run off" basis for the
Executive, covering claims made prior to or within six years from the date of the Change of Control, such insurance to provide
coverage substantially equivalent in scope and coverage to that provided by the Corporation's directors and officers insurance
policy, if any, in effect immediately prior to the Change of Control.

 

    	- 12 -

     

    

 

		23.5	This Agreement shall enure to the benefit of and be binding upon the Executive and his heirs, executors
and administrators and upon the Corporation and its successors and assigns.

 

		23.6	Neither party can waive or shall be deemed to have waived any right it has under this Agreement
(including any waiver under this section) except to the extent that such waiver is in writing.

 

		23.7	The Corporation agrees to co-operate with the Executive, to the extent permitted by applicable
tax laws, so as to permit the Executive to consider payments hereunder on termination of employment to be retirement benefits.

 

ARTICLE
24

COUNTERPARTS

 

		24.1	This Agreement may be executed in counterparts, each of which shall be deemed one and the same
Agreement.

 

 

[Reminder of page intentionally left blank.]

 

 

 

 

 

 

 

 

    	- 13 -

     

    

 

IN WITNESS WHEREOF the parties have executed this
Agreement as of the date and year first above written.

 

	 	 	ZOMEDICA PHARMACEUTICALS CORP.
	 	 	 	 	 
	 	 	 	 	 
	 	 	Per:	/s/ James LeBar	 
	 	 	 	James LeBar 	 
	 	 	 	Director (& Compensation 

Committee Chairman)
	 	 	 	 	 
	/s/ David Stowell	 	/s/ Gerald Solensky
    Jr.	 
	Witness	 	Gerald Solensky Jr.	 
	Name: David Stowell	 	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	- 14 -

     

    

 

SCHEDULE A

 

 

Exceptions to the definition of Acquiring Person as
used in Section 9 – Change of Control:

 

"ACQUIRING PERSON" SHALL
MEAN ANY PERSON WHO IS AT ANY TIME AFTER THE DATE HEREOF THE BENEFICIAL OWNER OF FIFTY PERCENT (50%) OR MORE OF THE OUTSTANDING
VOTING SHARES, PROVIDED, HOWEVER, THAT THE TERM 'ACQUIRING PERSON' SHALL NOT INCLUDE:

 

		(i)	the Corporation or any corporation controlled by the Corporation;

 

(ii)          
any Person who becomes the beneficial owner of fifty percent (50%) or more of the outstanding Voting Shares as a result
of one or any combination of: (a) a Voting Share Reduction: (b) an Exempt Acquisition; or (c) a Pro Rata Acquisition;
provided, however, that if a Person shall become the Beneficial Owner of fifty percent (50%) or more of the outstanding Voting
Shares by reason of one or any combination of a Voting Share Reduction, an Exempt Acquisition or a Pro Rata Acquisition, and thereafter
becomes the Beneficial Owner of an additional one percent (1%) of any Voting Share then outstanding (otherwise than pursuant to
an additional Voting Share Reduction, Exempt Acquisition or Pro Rata Acquisition), then, as of the date that such Person becomes
a Beneficial Owner of such additional Voting Shares, such Person shall become an Acquiring Person; or

 

(iii)         
an underwriter or member of a banking or selling group acting in such capacity that becomes the Beneficial Owner of fifty
percent (50%) or more of the Voting Shares in connection with a distribution of securities pursuant to an underwriting agreement
with the Corporation.

 

The capitalized terms used herein shall have the
following definitions:

 

(a)            
"Beneficial Owner" or "Beneficially Own" means a Person or any of such Person's affiliates or associates,
as such terms are defined in Canada's National Instrument 45-106 Prospectus and Registration Exemptions, who, by law or
in equity, is deemed to own or to be the owner of any securities.

 

(b)           
"Exempt Acquisition" means an acquisition whereby a Person became an Acquiring Person by inadvertence and without
any intention to become, or knowledge that it would become, an Acquiring Person and, in the event that a waiver is granted by the
Corporation's Board of Directors, such acquisition shall be deemed not to have occurred for the purposes hereof. Any such waiver
may only be given on the condition that such Person, within ten (10) days after the foregoing determination by the Corporation's
Board of Directors or such later date as the Corporation's Board of Directors may determine (the "Disposition Date"),
has reduced its Beneficial Ownership of Voting Shares such that the Person is no longer an Acquiring Person and such waiver shall
only be effective if the reduction has occurred within such ten (10) day or longer period.

 

(c)            
"Person" means any individual, firm, partnership, association, trust, trustee, executor, administrator, legal
personal representative, government, governmental body or authority, corporation, or other incorporated or unincorporated organization,
syndicate or other entity.

 

(d)           
"Pro Rata Acquisition" means an acquisition by a Person of Voting Shares pursuant to (i) any dividend reinvestment
plan, stock purchase plan or other plan of the Corporation made available to all holders of Voting Shares (other than holders resident
in any jurisdiction where participation in such plan is restricted or impractical as a result of applicable law); (ii) a stock
dividend, a stock split or other event pursuant to which such Person becomes the Beneficial Owner of Voting Shares on the same
pro rata basis as all other holders of Voting Shares of the same class or series; (iii) the acquisition or exercise of rights
to purchase Voting Shares distributed to all holders of Voting Shares (other than holders resident in any jurisdiction where such
distribution or exercise is restricted or impractical as a result of applicable law) by the Corporation pursuant to a rights offering
(but only if such rights are acquired directly from the Corporation); or (iv) a distribution of Voting Shares or convertible
securities in respect thereof offered pursuant to a prospectus or by way of a private placement by the Corporation or a conversion
or exchange of any such convertible security, provided that such Person does not thereby acquire a greater percentage of Voting
Shares or convertible securities so offered than the Person's percentage of Voting Shares Beneficially Owned immediately prior
to such acquisition.

 

    	- 15 -

     

    

 

(e)           
"Voting Shares" means the shares of the capital of the Corporation to which generally attach voting rights which,
as of the date hereof, are the common shares of the capital of the Corporation.

 

(f)            
"Voting Share Reduction" means an acquisition or redemption by the Corporation or any corporation controlled by
the Corporation of Voting Shares which, by reducing the number of Voting Shares of the Corporation outstanding, increases the percentage
of Voting Shares of the Corporation Beneficially Owned by any Person to fifty percent (50%) or more of the Voting Shares then outstanding.

 

 

 

 

 

 

 

 

 

 

- 16 -

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