Document:

Exhibit 10.1

 

Stock Purchase Agreement, dated June 7, 2017, between the Company, as seller, and Steve Dorff and Dillonpark LLC, as purchasers.

 

Please see accompanying PDF Document.EXECUTION
VERSION

 

BUSINESS
COMBINATION AGREEMENT

 

BETWEEN

 

scythian
bioscienCes inc.

 

And

 

kitrinor
metals inc.

 

And

 

10188760
Canada Inc. 

 

JUNE
6, 2017

 

    	 

     

    

 

TABLE
OF CONTENTS

 

	Article
    1 INTERPRETATION	1
	 	 
	 	Section
    1.1	Defined
    Terms	1
	 	Section
1.2	Gender
    and Number	7
	 	Section
1.3	Headings,
    etc.	7
	 	Section
1.4	Currency	7
	 	Section
1.5	Certain
    Phrases, etc.	7
	 	Section
    1.6	Knowledge	7
	 	Section
1.7	Accounting
    Terms	7
	 	Section
1.8	Schedules	7
	 	Section
1.9	References
    to Persons and Agreements	8
	 	Section
1.10	Statutes	8
	 	Section
1.11	Non-Business
    Days	8
	 	 	 	 
	Article
    2 amalgamation	8
	 	 
	 	Section
    2.1	Amalgamation	8
	 	 	 	 
	Article
    3 REPRESENTATIONS AND WARRANTIES OF Scythian	11
	 	 
	 	Section
3.1	Representations
    and Warranties of Scythian	11
	 	 	 	 
	Article
    4 REPRESENTATIONS AND WARRANTIES OF Kitrinor	14
	 	 
	 	Section
4.1	Representations
    and Warranties of Kitrinor	14
	 	 	 	 
	Article
    5 REPRESENTATIONS AND WARRANTIES OF 10188760 Canada Inc.	18
	 	 
	 	Section
    5.1 	Representations
    and Warranties of 10188760 Canada Inc.	18
	 	 	 	 
	Article
    6 COVENANTS OF THE PARTIES	19
	 	 
	 	Section
6.1	Conduct
    of Business	19
	 	Section
6.2	Actions
    to Satisfy Conditions	21
	 	Section
    6.3 	No
    Shop	21
	 	 	 	 
	Article
    7 CONDITIONS	21
	 	 
	 	Section
7.1	Mutual
    Conditions Precedent	21
	 	Section
7.2	Conditions
    for the Benefit of Kitrinor	22
	 	Section
7.3	Conditions
    for the Benefit of Scythian	23
	 	 	 	 
	Article
    8 TERMINATION	25
	 	 
	 	Section
8.1	Term	25
	 	Section
8.2	Termination
    Rights	25
	 	Section
8.3	Effect
    of Termination	26
	 	 	 	 
	Article
    9 MISCELLANEOUS	26
	 	 
	 	Section
    9.1 	Notices	26
	 	Section
    9.2	Time
    of the Essence	27
	 	Section
9.3	Announcements	27
	 	Section
9.4	Expenses	28
	 	Section
9.5	Amendments	28
	 	Section
    9.6 	Waiver	28
	 	Section
9.7	Entire
    Agreement	28
	 	Section
9.8	Successors
    and Assigns	28
	 	Section
9.9	Severability	28
	 	Section
9.10	Governing
    Law	29
	 	Section
    9.11 	Counterparts	29

 

Schedule
“A” FORM OF AMALGAMATION AGREEMENT

 

    	( i
                                                                                                                                                                                                                               )

     

    

 

BUSINESS
COMBINATION AGREEMENT

 

Business
Combination Agreement dated June 6, 2017 between Scythian Biosciences Inc. (“Scythian”), Kitrinor Metals Inc.
(“Kitrinor”) and 10188760 Canada Inc. (“10188760 Canada Inc.”).

 

WHEREAS
Kitrinor intends to acquire all of the issued and outstanding Class A common shares in the capital of Scythian in exchange
for common shares of Kitrinor, which purchase will be effected pursuant to the Amalgamation as hereinafter set forth and on the
terms and subject to the conditions set forth in the Amalgamation Agreement;

 

AND
WHEREAS the Amalgamation will constitute a reverse takeover of Kitrinor by Scythian pursuant to the policies of the TSX Venture
Exchange Inc.;

 

NOW
THEREFORE in consideration of the foregoing, and the respective covenants, agreements, representations and warranties of the
Parties contained herein, and for other good and valuable consideration (the receipt and adequacy of which are acknowledged),
the Parties agree as follows:

 

Article
1

INTERPRETATION

 

Section
1.1 Defined Terms.

 

As
used in this Agreement, the following terms have the following meanings:

 

“10188760
Canada Inc.” means 10188760 Ontario Inc., a corporation incorporated under the CBCA and a wholly-owned Subsidiary of
Kitrinor.

 

“10188760
Canada Inc. Shares” means the common shares in the capital of 10188760 Canada Inc. as constituted on the date hereof.

 

“affiliate”
has the meaning specified in the Securities Act (Ontario).

 

“Agreement”
means this business combination agreement, as such agreement may be amended, varied, modified or restated from time to
time, together with all Schedules appended to the Agreement.

 

“Amalco”
means the corporation continuing from the Amalgamation. 

 

“Amalco
Shares” means the common shares of Amalco. 

 

“Amalgamation”
means the amalgamation of Scythian and 10188760 Canada Inc. pursuant to the CBCA on the terms set forth in this Agreement and
the Amalgamation Agreement.

 

“Amalgamating
Parties” means, collectively, Scythian and 10188760 Canada Inc. 

 

“Amalgamation
Agreement” means the agreement to be entered into among Scythian, Kitrinor and 10188760
Canada Inc. in respect of the Amalgamation, in substantially the form attached hereto as Schedule “A”.

 

    	 

    	- 2 -

    

 

“Amalgamation
Resolution” means the special resolution to be approved by the shareholders of Scythian
approving, among other things, the Amalgamation, the Agreement and the Ancillary Agreements. 

 

“Ancillary
Agreements” means all agreements, certificates and other instruments delivered
or given pursuant to this Agreement, including without limitation, the Amalgamation Agreement.

 

“Articles
of Amalgamation” means the articles of amalgamation to be filed with Corporations Canada in order to effect the Amalgamation,
substantially in the form agreed to between the Amalgamating Parties.

 

“associate”
has the meaning specified in the Securities Act (Ontario).

 

“Authorization”
means, with respect to any Person, any order, permit, approval, consent, waiver, licence or similar authorization of any Governmental
Entity having jurisdiction over the Person.

 

“Business
Combination” means the business combination among Kitrinor, 10188760 Canada Inc. and
Scythian under which the business and assets of Kitrinor shall be combined with those of Scythian, as a reverse takeover of Kitrinor
by Scythian, to form the Resulting Issuer.

 

“Business
Day” means any day of the year, other than a Saturday, Sunday or any day on
which major banks are closed for business in Toronto, Ontario.

 

“CBCA”
means the Canada Business Corporations Act, as amended from time to time.

 

“Certificate
of Amalgamation” means the certificate of amalgamation to be issued by the Director,
as date stamped on the Articles of Amalgamation, evidencing that the Articles of Amalgamation are effective. 

 

“Circulars”
means, collectively, the Kitrinor Circular and the Scythian Circular.

 

“Closing”
means the completion of the Amalgamation on the terms and subject to the conditions set forth herein and in the Amalgamation
Agreement.

 

“Consolidation”
means the consolidation of Scythian Shares on a 80:1 basis and Kitrinor Shares on a 20:1 basis in connection with the Business
Combination.

 

“Constating
Documents” means, in respect of Scythian, Kitrinor or 10188760 Canada Inc., as the case may be, the articles of incorporation,
amalgamation, or continuation arrangement, as applicable, by-laws and all amendments to such articles or by-laws.

 

“Contingent
Board” means the contingent board of the Resulting Issuer, which shall be approved at the Kitrinor Meeting and take
effect as of the Effective Time and be comprised of Jonathan Gilbert, Michael Petter, Peter Benz, Roger Rai and Gary Leong.

 

    	 

    	- 3 -

    

 

“Director”
means the director appointed under Section 260 of the CBCA.

 

“Effective
Date” means the date shown on the Certificate of Amalgamation issued by the
Director giving effect to the Amalgamation, or such earlier or later date as the Parties may mutually agree in writing.

 

“Financings”
means, collectively, the Private Placement Financing and the Non-Brokered Private Placement.

 

“GAAP”
means generally accepted accounting principles as set out in the Canadian Institute of Chartered Accountants Handbook –
Accounting for an entity that prepares its financial statements in accordance with International Financial Reporting Standards,
at the relevant time, applied on a consistent basis.

 

“Governmental
Entity” means (i) any international, multinational, national, federal, provincial,
state, regional, municipal, local or other government, governmental or public department, central bank, court, tribunal, arbitral
body, commission, board, bureau, ministry, agency or instrumentality, domestic or foreign, (ii) any subdivision or authority of
any of the above, (iii) any quasi-governmental or private body exercising any regulatory, expropriation or taxing authority under
or for the account of any of the foregoing or (iv) any stock exchange.

 

“Hazardous
Substance” means any chemical, material or substance in any form, whether solid, liquid, gaseous, semisolid or any combination
thereof, including, but not limited to, drummed materials, whether waste material, raw material, finished product, intermediate
product, byproduct or any other material or article, that is listed or regulated under any environmental Laws as a hazardous substance,
hazardous materials, toxic substance, waste pollutant, or contaminant or is otherwise listed or regulated under any environmental
Laws because it poses a hazard to human health or the environment, including, but not limited to mercury, sulphuric acid, petroleum
products, asbestos, PCBs, cyanide and lead-containing paints or coatings.

 

“Kitrinor”
means Kitrinor Metals Inc., a corporation existing under the OBCA.

 

“Kitrinor
Board” means the board of directors of Kitrinor.

 

“Kitrinor
Circular” means the notice of the Kitrinor Meeting and accompanying management information circular or applicable filing
statement, as the case may be, including all schedules and appendices attached thereto, to be sent to the Kitrinor Shareholders
in connection with the Kitrinor Meeting, together with any applicable filing statement required by the policies of the TSXV in
connection with the completion of the Business Combination.

 

“Kitrinor
Convertible Securities” means, collectively, all outstanding rights to acquire Kitrinor Shares pursuant to Kitrinor’s
outstanding stock options, warrants, broker warrants, convertible debentures, rights of conversion or exchange privileges or other
securities entitling the holder thereof to acquire any Kitrinor Shares, or any other rights, agreements or commitment of any character
requiring the issuance, sale or transfer by Kitrinor of any Kitrinor Shares.

 

    	 

    	- 4 -

    

 

“Kitrinor
Financial Statements” means the audited comparative financial statements of Kitrinor
as at and for the financial years ended December 31, 2016, 2015 and 2014.

 

“Kitrinor
Meeting” means the special meeting of Kitrinor Shareholders, including any adjournment or postponement of such special
meeting in accordance with the terms of this Agreement to consider the Kitrinor Meeting Matters set out in the notice to be provided
to Kitrinor Shareholders in connection with such meeting.

 

“Kitrinor
Meeting Matters” means an annual and special meeting of the shareholders of Kitrinor to be held in order to seek shareholder
approval for, among other things, the Consolidation (as it relates to Kitrinor), the Name Change and the election of the Contingent
Board by the Kitrinor Shareholders.

 

“Kitrinor
Shareholders” means the holders of Kitrinor Shares from time to time.

 

“Kitrinor
Shares” means common shares in the capital of Kitrinor.

 

“Laws”
means all laws, statutes, codes, ordinances, decrees, rules, regulations, by laws, statutory rules, principles of law,
published policies, forms and guidelines, fee schedules, tariffs, judicial or arbitral or administrative or ministerial or departmental
or regulatory judgments, orders, directives, decisions, rulings or awards, including general principles of common and civil law,
and terms and conditions of any grant of approval, permission, authority or license of any Governmental Entity, statutory body
or self-regulatory authority (including, but not limited to, the TSXV), and the term “applicable” with respect to
such Laws and in the context that refers to one or more Persons, means that such Laws apply to such Person or Persons or its or
their business, undertaking, property or securities and emanate from a Governmental Entity (or any other Person) having jurisdiction
over the aforesaid Person or Persons or its or their business, undertaking, property or securities.

 

“Material
Adverse Effect” means any event or change that, individually or in the aggregate with other events or changes, is or
would reasonably be expected to be, materially adverse to the business, operations, assets, condition (financial or otherwise)
or liabilities, whether contractual or otherwise, of any Party, as the case may be; provided that a Material Adverse Effect shall
not include an adverse effect resulting from a change (i) that arises out of a matter that has been publicly disclosed prior to
the date of this Agreement or otherwise disclosed in writing by a Party to the other Party prior to the date of this Agreement;
(ii) that results from conditions affecting the medicinal marijuana market generally in Canada or the United States, including
changes in government policies or programs or taxes; (iii) that results from general economic, financial, currency exchange, interest
rate or securities market conditions in Canada or the United States; (iv) that arises from a decline in the trading price of Kitrinor
Shares, or (v) that is a direct result of any matter permitted by this Agreement or consented to in writing by the applicable
Party.

 

“Material
Contracts” has the meaning specified in Section 4.1(l).

 

“Misrepresentation”
means an untrue statement of a material fact or an omission to state a material fact required or necessary to make the statements
contained therein not misleading in light of the circumstances in which they are made.

 

    	 

    	- 5 -

    

 

“Name
Change” means the name change of Kitrinor to “Scythian Biosciences Corp.”
or such other name acceptable to Kitrinor and Scythian, such name change to be completed on or prior to the Effective Date.

 

“Non-Brokered
Private Placement” means the non-brokered private placement offering of Scythian Shares
completed on March 20, 2017 and March 31, 2017 pursuant to which Scythian issued 29,659,460 Scythian Shares at $0.10 per share
for aggregate gross proceeds of $2,965,946;

 

“Notice”
has the meaning specified in Article 9.

 

“OBCA”
means the Business Corporations Act (Ontario), as amended from time to time. 

 

“Offering”
means a private placement offering of 33,212,500 Scythian Subscription Receipts, pursuant to the terms of an agency agreement
entered into between Scythian, Clarus Securities Inc., Haywood Securities Inc. and Canaccord Genuity Corp. dated March 13, 2017.

 

“Ordinary
Course” means, with respect to an action taken by a Person, that such action
is consistent with the past practices of the Person and is taken in the ordinary course of the normal day-to-day operations of
the Person.

 

“Outside
Date” means June 13, 2017 or such later date as may be agreed to in writing by the
Parties.

 

“Parties”
means, collectively, Scythian, Kitrinor and 10188760 Canada Inc., and any other Person who may become a party to this Agreement;
and “Party” means any one of them.

 

“Private
Placement Financing” means, the sale by Scythian of the Scythian Subscription Receipts
in accordance with the terms of the Agency Agreement at a price of $0.40 per Scythian Subscription Receipt for gross proceeds
of $13,085,000 completed March 13, 2017 together with the second tranche closing completed March 31, 2017 for gross proceeds of
$200,000 through the issuance of an aggregate of 33,212,500 Scythian Subscription Receipts.

 

“Person”
means a natural person, partnership, limited partnership, limited liability partnership, corporation, limited liability
corporation, unlimited liability company, joint stock company, trust, unincorporated association, joint venture or other entity
or Governmental Entity, and pronouns having a similarly extended meaning.

 

“Public
Statement” has the meaning ascribed thereto in Section 9.3 hereof. 

 

“Regulatory
Approval” means any consent, waiver, permit, exemption, review, order, decision
or approval of, or any registration and filing with, any Governmental Entity, or the expiry, waiver or termination of any waiting
period imposed by Law or a Governmental Entity, in each case in connection with the Amalgamation, including any such approval
from the TSXV.

 

    	 

    	- 6 -

    

 

“Remedial
Action” means any investigation, feasibility study, monitoring, testing, sampling, removal (including removal of underground
storage tanks), restoration, clean-up, reclamation, remediation, closure, site restoration, remedial response or remedial work.

 

“Resulting
Issuer” means Kitrinor upon completion of the Business Combination.

 

“Resulting
Issuer Convertible Securities” means, collectively, all outstanding rights to acquire Resulting Issuer Shares pursuant
to the Resulting Issuer’s outstanding stock options, warrants, broker warrants, convertible debentures, rights of conversion
or exchange privileges or other securities entitling the holder thereof to acquire any Resulting Shares, or any other rights,
agreements or commitment of any character requiring the issuance, sale or transfer by the Resulting Issuer of any Resulting Issuer
Shares.

 

“Resulting
Issuer Shares” means the common shares in the capital of the Resulting Issuer;

 

“Scythian”
means Scythian Biosciences Inc., a corporation existing under the federal laws of Canada.

 

“Scythian
Board” means the board of directors of Scythian.

 

“Scythian
Circular” means the notice of the Scythian Meeting and accompanying management information circular including all schedules
and appendices attached thereto, to be sent to the Scythian Shareholders in connection with the Scythian Meeting.

 

“Scythian
Convertible Securities” means, collectively, all outstanding rights to acquire Scythian Shares pursuant to Scythian’s
outstanding stock options, warrants, broker warrants, convertible debentures, rights of conversion or exchange privileges or other
securities entitling the holder thereof to acquire any Scythian Shares, or any other rights, agreements or commitment of any character
requiring the issuance, sale or transfer by Scythian of any Scythian Shares.

 

“Scythian
Meeting” means the special meeting of Scythian Shareholders, including any adjournment or postponement of such special
meeting in accordance with the terms of this Agreement to consider the matters set out in the notice to be provided to Scythian
Shareholders in connection with such meeting.

 

“Scythian
Shareholders” means the holders of Scythian Shares from time to time.

 

“Scythian
Shares” means the Class A common shares in the capital of Scythian as constituted on the date hereof.

 

“Scythian
Subscription Receipts” means the 33,212,500 subscription receipts of Scythian issued in connection with the Offering.

 

“Securities
Reports” has the meaning ascribed thereto in Section 4.1(p) hereof.

 

“SEDAR”
means the System for Electronic Document Analysis and Retrieval.

 

    	 

    	- 7 -

    

 

“Subsidiary”
has the meaning specified in National Instrument 45-106 - Prospectus Exemptions as in effect on the date of this Agreement.

 

“Taxes”
has the meaning specified in Section 4.1(i).

 

“TSXV”
means the TSX Venture Exchange.

 

Section
1.2 Gender and Number.

 

Any
reference in this Agreement or any Ancillary Agreement to gender includes all genders. Words importing the singular number only
shall include the plural and vice versa.

 

Section
1.3 Headings, etc.

 

The
provision of a Table of Contents, the division of this Agreement into Articles, Sections and Schedules and the insertion of headings
are for convenient reference only and are not to affect its interpretation.

 

Section
1.4 Currency.

 

All
references in this Agreement or any Ancillary Agreement to dollars, or to $ are expressed
in Canadian currency unless otherwise specifically indicated.

 

Section
1.5 Certain Phrases, etc.

 

In
this Agreement and any Ancillary Agreement (i) the words “including”, “includes” and “include”
mean “including (or includes or include) without limitation”, and (ii) the phrase “the aggregate of”,
“the total of”, “the sum of”, or a phrase of similar meaning means “the aggregate (or total or sum),
without duplication, of”. In the computation of periods of time from a specified date to a later specified date, unless
otherwise expressly stated, the word “from” means “from and including” and the words “to”
and “until” each mean “to but excluding”.

 

Section
1.6 Knowledge.

 

Any
reference herein to the knowledge of any Party will be deemed to mean the actual knowledge of the directors and executive officers
of such Party after reasonable inquiry.

 

Section
1.7 Accounting Terms.

 

All
accounting terms not specifically defined in this Agreement are to be interpreted in accordance with GAAP.

 

Section
1.8 Schedules.

 

The
schedules attached to this Agreement form an integral part of this Agreement for all purposes of it.

 

    	 

    	- 8 -

    

 

Section
1.9 References to Persons and Agreements.

 

Any
reference in this Agreement or any Ancillary Agreement to a Person includes such Person’s heirs, administrators, executors,
legal personal representatives, successors and permitted assigns. Except as otherwise provided in this Agreement or any Ancillary
Agreement, the term “Agreement” and any reference in this Agreement to this Agreement, any Ancillary Agreement
or any other agreement or document includes, and is a reference to, this Agreement, such Ancillary Agreement or such other agreement
or document as it may have been, or may from time to time be amended, restated, replaced, supplemented or novated and includes
all schedules to it.

 

Section
1.10Statutes.

 

Except
as otherwise provided in this Agreement, any reference in this Agreement to a statute refers to such statute and all rules and
regulations made under it, as it or they may have been or may from time to time be amended or re-enacted.

 

Section
1.11Non-Business Days.

 

Whenever
payments are to be made or an action is to be taken on or not later than a day which is not a Business Day, such payment shall
be made or such action shall be taken on or not later than the next succeeding Business Day.

 

Article
2

amalgamation

 

Section
2.1Amalgamation.

 

		(a)	Each
                                         of the Parties covenants to take all such actions as are within its power to control
                                         and use commercially reasonable efforts to cause other actions to be taken which are
                                         not within its power to control, so as to complete the Amalgamation as set forth in this
                                         Section 2.1 and otherwise on the terms, and subject to the conditions, set forth in this
                                         Agreement and subject to the approval of the TSXV (if applicable).

 

		(b)	Each
                                         Party hereby agrees, unless such steps have already been completed, that as soon as reasonably
                                         commercially practicable after the date hereof or at such other time as is specifically
                                         indicated below in this Section 2.1, and on the applicable terms, and subject to the
                                         applicable conditions, set forth in this Agreement and the Amalgamation Agreement, it
                                         shall take the following steps:

 

		(i)	Preparation
                                         and Mailing of Kitrinor Circular. Kitrinor shall use all commercially reasonable
                                         efforts to prepare and complete, in consultation with Scythian, the Kitrinor Circular
                                         together with any other documents required by Law in connection with the Kitrinor Meeting
                                         and the Business Combination. Kitrinor shall use its commercially reasonable efforts
                                         to cause the Kitrinor Circular and such other documents to be filed under the profile
                                         of Kitrinor on SEDAR and sent to each Kitrinor Shareholder and such other Persons as
                                         required by applicable Law as soon as practicable, and, in any event, no later than June
                                         13, 2017.

 

    	 

    	- 9 -

    

 

		(ii)	Preparation
                                         and Mailing of Scythian Circular. Scythian shall use all commercially reasonable
                                         efforts to prepare and complete, in consultation with Kitrinor, the Scythian Circular
                                         together with any other documents required by Law in connection with the Scythian Meeting
                                         and the Business Combination. Scythian shall use its commercially reasonable efforts
                                         to cause the Scythian Circular to be sent to each Kitrinor Shareholder and such other
                                         Persons as required by applicable Law as soon as practicable, and, in any event, no later
                                         than June 13, 2017.

 

		(iii)	Contents
                                         of the Circular. Each of the Parties shall ensure that the Circulars comply in material
                                         respects with applicable Laws, do not contain any Misrepresentation (as it relates to
                                         the disclosure of such Party) and provide the Kitrinor Shareholders and the Scythian
                                         Shareholders, as the case may be, with sufficient information to permit them to form
                                         a reasoned judgement concerning the matters to be placed before the Kitrinor Meeting
                                         or the Scythian Meeting, as the case may be. 

 

		(iv)	Assistance
                                         with Circulars. The Parties shall give each other and their respective legal counsel
                                         a reasonable opportunity to review and comment on drafts of the Circulars and other related
                                         documents, and shall give reasonable consideration to any comments made by the other
                                         Party and its counsel. Scythian and Kitrinor shall each provide all necessary information
                                         concerning them that is required by Law to be included by each of them in the Circulars,
                                         and shall use their best efforts to ensure that information in the Circulars (as it relates
                                         to the disclosure of such Party) does not contain any Misrepresentation. Each Party shall
                                         promptly notify the other Party if it becomes aware that the Circulars contain any Misrepresentation
                                         (as it relates to the disclosure of such Party) or otherwise requires an amendment or
                                         supplement. The Parties shall co-operate in the preparation of any such amendment or
                                         supplement as required or appropriate, and the Parties shall, as required by applicable
                                         Laws, promptly file on SEDAR and mail or otherwise publicly disseminate any such amendment
                                         or supplement to the Kitrinor Shareholders or the Scythian Shareholders, as the case
                                         may be, and, if required by Law, file the same with any other Governmental Entity as
                                         required.

 

		(v)	Kitrinor
                                         Meeting. Kitrinor will convene and conduct the Kitrinor Meeting on or before May
                                         31, 2017 and not adjourn, postpone or cancel (or propose the adjournment, postponement
                                         or cancellation of) the Kitrinor Meeting without the prior written consent of Scythian,
                                         except in the case of an adjournment, as required for quorum purposes. 

 

		(vi)	Scythian
                                         Meeting. Scythian will convene and conduct the Scythian Meeting on or before June
                                         13, 2017 and not adjourn, postpone or cancel (or propose the adjournment, postponement
                                         or cancellation of) the Scythian Meeting without the prior written consent of Kitrinor,
                                         except in the case of an adjournment, as required for quorum purposes. 

 

    	 

    	- 10 -

    

 

		(vii)	Filing
                                         of Articles of Amalgamation. Subject to obtaining applicable approval of the Scythian
                                         Shareholders and the Kitrinor Shareholders, and subject to the satisfaction or waiver
                                         of the applicable conditions of Closing as set forth in this Agreement, the Amalgamating
                                         Parties will submit the Articles of Amalgamation and such other documents as may be required
                                         under the CBCA in connection therewith to give effect to the Amalgamation.

 

		(viii)	Amalgamation
                                         Agreement. The Parties hereby acknowledge that the form of Amalgamation Agreement
                                         attached as Schedule “A” complies with the requirements of the CBCA. 

 

		(ix)	Articles
                                         of Amalgamation. The Articles of Amalgamation shall, with such other matters as are
                                         necessary to effect the Amalgamation, and all as subject to the provisions of the Amalgamation
                                         Agreement, provide as follows:

 

		(A)	the
                                         Amalgamating Parties will amalgamate and continue as Amalco;

 

		(B)	holders
                                         of Scythian Shares shall receive one fully paid and non-assessable Resulting Issuer Share
                                         for each Scythian Share held by such holder, and the Scythian Shares shall thereafter
                                         be cancelled; 

 

		(C)	holders
                                         of Kitrinor Shares shall receive one fully paid and non-assessable Resulting Issuer Share
                                         for each Kitrinor Share held by such holder, and the Kitrinor Shares shall thereafter
                                         be cancelled;

 

		(D)	holders
                                         of Scythian Convertible Securities shall be entitled to receive that number of Resulting
                                         Issuer Convertible Securities as it equal to the number of Scythian Convertible Securities
                                         held by such holder, subject to applicable adjustment in connection with the Consolidation,
                                         and the Scythian Convertible Securities shall thereafter be cancelled;

 

		(E)	holders
                                         of Kitrinor Convertible Securities shall be entitled to receive that number of Resulting
                                         Issuer Convertible Securities as it equal to the number of Kitrinor Convertible Securities
                                         held by such holder, subject to applicable adjustment in connection with the Consolidation,
                                         and the Kitrinor Convertible Securities shall thereafter be cancelled;

 

    	 

    	- 11 -

    

 

		(F)	the
                                         shares of 10188760 Canada Inc. will be cancelled and replaced by Amalco Shares on the
                                         basis of one Amalco Share for each share of 10188760 Canada Inc.;

 

		(G)	as
                                         consideration for the issuance of the Kitrinor Shares to holders of Scythian Shares to
                                         effect the Amalgamation, Amalco will issue Kitrinor such number of shares of Amalco for
                                         each Kitrinor Share issued to holders of Scythian Shares;

 

		(H)	Amalco
                                         will be a direct wholly-owned Subsidiary of the Resulting Issuer upon completion of the
                                         Amalgamation; and

 

		(I)	all
                                         of the property, rights, privileges and assets of the Amalgamating Parties will continue
                                         as the property, rights, privileges and assets of Amalco, and Amalco will become liable
                                         for all of the liabilities and obligations of the Amalgamating Parties.

 

Article
3

REPRESENTATIONS AND WARRANTIES OF Scythian

 

Section
3.1Representations and Warranties of Scythian.

 

Scythian
represents and warrants, as of the date of this Agreement, as follows to Kitrinor and acknowledges and confirms that Kitrinor
is relying on such representations and warranties in connection with the transactions contemplated by this Agreement:

 

		(a)	Scythian
                                         is a corporation duly incorporated and validly subsisting under the federal laws of Canada
                                         and has the requisite corporate power and authority to carry on its business as it is
                                         now being conducted and to enter into this Agreement. Scythian is duly registered to
                                         do business and is in good standing in each jurisdiction in which the character of its
                                         properties, owned or leased, or the nature of its activities make such registration necessary,
                                         except where the failure to be so registered or in good standing would not have a Material
                                         Adverse Effect on Scythian.

 

		(b)	The
                                         execution and delivery of and performance by Scythian of this Agreement and each of the
                                         Ancillary Agreements to which it is a party, and the consummation of the transactions
                                         contemplated by them have been duly authorized by all necessary corporate action on the
                                         part of Scythian.

 

		(c)	The
                                         execution and delivery of and performance by Scythian of this Agreement and each of the
                                         Ancillary Agreements to which it is a party:

 

		(i)	do
                                         not and will not (or would not with the giving of notice, the lapse of time or the happening
                                         of any other event or condition) constitute or result in a violation or breach of, or
                                         conflict with, or allow any other Person to exercise any rights under, any of the terms
                                         or provisions of its Constating Documents;

 

    	 

    	- 12 -

    

 

		(ii)	do
                                         not and will not (or would not with the giving of notice, the lapse of time or the happening
                                         or any other event or condition) constitute or result in a breach or violation of, or
                                         conflict with or allow any other Person to exercise any rights under, any of the terms
                                         or provisions of any material contracts to which it is a party; and

 

		(iii)	do
                                         not and will not result in the violation of any Law.

 

		(d)	This
                                         Agreement and each of the Ancillary Agreements to which Scythian is a party have been
                                         duly executed and delivered by Scythian and constitute legal, valid and binding agreements
                                         of Scythian enforceable against it in accordance with their respective terms subject
                                         only to any limitation under applicable Laws relating to (i) bankruptcy, winding-up,
                                         insolvency, arrangement, fraudulent preference and conveyance, assignment and preference
                                         and other similar laws of general application affecting creditors’ rights, and
                                         (ii) the discretion that a court may exercise in the granting of equitable remedies such
                                         as specific performance and injunction.

 

		(e)	Scythian
                                         has an authorized capital of an unlimited number of Scythian Shares of which, as at the
                                         date hereof (and without giving effect to the Offering), Scythian has issued and outstanding
                                         230,964,128 Scythian Shares. In addition, as at the date hereof, Scythian has issued
                                         and outstanding Scythian Convertible Securities entitling the holders thereof to acquire,
                                         and is party to agreements evidencing rights to acquire, a further 44,163,538 Scythian
                                         Shares, including Scythian Shares issuable upon conversion of the Scythian Subscription
                                         Receipts. Except as aforesaid, there are no outstanding shares of Scythian or options,
                                         warrants, rights or conversion or exchange privileges or other securities entitling anyone
                                         to acquire any shares of Scythian or any other rights, agreements or commitments of any
                                         character whatsoever requiring the issuance, sale or transfer by Scythian of any shares
                                         of Scythian (including Scythian Shares) or any securities convertible into, exchangeable
                                         or exercisable for, or otherwise evidencing a right to acquire, any Scythian Shares or
                                         other equity securities of Scythian. All outstanding Scythian Shares have been duly authorized
                                         and validly issued, and are fully paid and non-assessable and are not subject to, nor
                                         have they been issued in violation of any pre-emptive rights, and all Scythian Shares
                                         issuable upon exercise or conversion of outstanding Scythian Convertible Securities or
                                         issuable pursuant to agreements evidencing rights to acquire shares will, when issued
                                         in accordance with their respective terms, be duly authorized and validly issued, fully
                                         paid and non-assessable and will not be subject to any pre-emptive rights. 

 

		(f)	There
                                         are no suits, actions or litigation or arbitration proceedings or governmental proceedings
                                         in progress pending or, to the best of the knowledge of Scythian, contemplated or threatened,
                                         to which Scythian is a party or to which the property of Scythian is subject, except
                                         where such suit, action or litigation or arbitration proceeding or governmental proceeding
                                         would not result in a Material Adverse Effect to Scythian taken as a whole. There is
                                         not presently outstanding against Scythian any judgment, injunction, rule or order of
                                         any court, governmental department, commission, agency or arbitrator.

 

    	 

    	- 13 -

    

 

		(g)	Scythian
                                         is not a party to any agreement which in any manner affects the voting control of any
                                         of the shares of Scythian.

 

		(h)	Other
                                         than as previously disclosed to Kitrinor, Scythian is not a party to any written management
                                         contract or employment agreement which provides for a right of payment in the event of
                                         a change in control of Scythian.

 

		(i)	Scythian
                                         is not a “reporting issuer” within the meaning of the Securities Act (Ontario)
                                         and does not have a similar status in any other province or territory of Canada. No securities
                                         commission or similar regulatory authority has issued any order which is currently outstanding
                                         preventing or suspending trading in any securities of Scythian, no such proceeding is,
                                         to the knowledge of Scythian, pending, contemplated or threatened and Scythian is not,
                                         to its knowledge, in default of any requirement of any securities laws, rules or policies
                                         applicable to Scythian or its securities.

 

		(j)	Other
                                         than in connection with or in compliance with the provisions of applicable Laws, no filing
                                         or registration with, or authorization, consent or approval of any domestic or foreign
                                         public body or authority is necessary by Scythian in connection with the consummation
                                         of the Amalgamation, except for such filings or registrations which, if not made, or
                                         for such authorizations, consents or approvals, which, if not received, would not have
                                         any Material Adverse Effect on the ability of Scythian to consummate the transactions
                                         contemplated hereby.

 

		(k)	Other
                                         than as previously disclosed to Kitrinor, Scythian has not retained and will not retain
                                         any financial advisor, broker, agent or finder, or paid or agreed to pay any financial
                                         advisor, broker, agent or finder on account of this Agreement or the Amalgamation, any
                                         transaction contemplated hereby or any transaction presently ongoing or contemplated.
                                         

 

		(l)	Except
                                         with respect to the Regulatory Approvals and the requisite approvals in respect of the
                                         Amalgamation and the Consolidation, there are no third party consents required to be
                                         obtained by Scythian in order to complete the transactions contemplated hereby.

 

		(m)	Neither
                                         this Agreement nor any Ancillary Agreement to which Scythian is a party (i) contains
                                         any untrue statement of a material fact in respect of Scythian, the affairs, prospects,
                                         operations or condition of Scythian, or (ii) to the knowledge of Scythian, omits any
                                         statement of a material fact necessary in order to make the statements in respect of
                                         Scythian, the affairs, prospects, operations or condition of Scythian contained herein
                                         or therein not misleading. 

 

		(n)	Scythian
                                         owns and possesses adequate enforceable rights to use all trademarks, patents, copyrights
                                         and trade secrets used or proposed to be used in the conduct of the business thereof
                                         and, to the best of its knowledge, after due inquiry, Scythian is not infringing upon
                                         the rights of any other person with respect to any such trademarks, patents, copyrights
                                         or trade secrets and, no person has infringed any such trademark, patents, copyrights
                                         or trade secrets.

 

    	 

    	- 14 -

    

 

		(o)	Scythian
                                         has conducted and is conducting its business in compliance in all material respects with
                                         all applicable Laws of each jurisdiction in which it carries on business and with all
                                         Laws material to its operation, and Scythian has not received any notice of the revocation
                                         or cancellation of, or any intention to revoke or cancel, any of the licenses, leases
                                         or other instruments conferring rights to Scythian for the conduct of their business.

 

		(p)	Go
                                         Green B.C. Medicinal Marijuana Ltd., a company incorporated under the laws of the Province
                                         of British Columbia, is a wholly-owned subsidiary of Scythian.

 

		(q)	To
                                         the knowledge of Scythian, any and all material agreements pursuant to which Scythian
                                         holds any of its material assets are valid and subsisting agreements in full force and
                                         effect, enforceable in accordance with their respective terms, and Scythian is not in
                                         default of any of the material provisions of any such agreements including, without limitation,
                                         failure to fulfil any payment or work obligation thereunder nor has any such default
                                         been alleged, Scythian is not aware of any material disputes with respect thereto and
                                         such assets are in good standing under the applicable statutes and regulations of the
                                         jurisdictions in which they are situated, all leases, licenses and concessions pursuant
                                         to which Scythian derives its interests in such material assets are in good standing
                                         and there has been no material default under any such leases, licenses and concessions
                                         and all real or other property taxes required to be paid with respect to such assets
                                         to the date hereof have been paid.

 

Article
4

REPRESENTATIONS AND WARRANTIES OF Kitrinor

 

Section
4.1Representations and Warranties of Kitrinor.

 

Kitrinor
represents and warrants as follows to Scythian and acknowledges and confirms that Scythian is relying on such representations
and warranties in connection with the transactions contemplated by this Agreement:

 

		(a)	Kitrinor
                                         is a corporation duly incorporated and validly existing under the laws of the Province
                                         of Ontario, and has the corporate power and authority to enter into and perform its obligations
                                         under this Agreement and each of the Ancillary Agreements to which it is a party. 

 

		(b)	The
                                         execution and delivery of and performance by Kitrinor of this Agreement, and of each
                                         of the Ancillary Agreements to which it is a party, and the consummation of the transactions
                                         contemplated by them have been duly authorized by all necessary corporate action on the
                                         part of Kitrinor.

 

		(c)	The
                                         execution and delivery of and performance by Kitrinor of this Agreement, and by Kitrinor
                                         of each of the Ancillary Agreements to which it is a party:

 

		(i)	do
                                         not and will not (or would not with the giving of notice, the lapse of time or the happening
                                         of any other event or condition) constitute or result in a violation or breach of, or
                                         conflict with, or allow any other Person to exercise any rights under, any of the terms
                                         or provisions of its Constating Documents;

 

    	 

    	- 15 -

    

 

		(ii)	do
                                         not and will not (or would not with the giving of notice, the lapse of time or the happening
                                         or any other event or condition) constitute or result in a breach or violation of, or
                                         conflict with or allow any other Person to exercise any rights under, any of the terms
                                         or provisions of any material contracts to which it is a party; and

 

		(iii)	do
                                         not and will not result in the violation of any Law.

 

		(d)	This
                                         Agreement and each of the Ancillary Agreements to which Kitrinor is a party have been
                                         duly executed and delivered by Kitrinor and constitute legal, valid and binding agreements
                                         of Kitrinor enforceable against it in accordance with their respective terms subject
                                         only to any limitation under applicable Laws relating to (i) bankruptcy, winding-up,
                                         insolvency, arrangement, fraudulent preference and conveyance, assignment and preference
                                         and other similar laws of general application affecting creditors’ rights, and
                                         (ii) the discretion that a court may exercise in the granting of equitable remedies such
                                         as specific performance and injunction.

 

		(e)	Kitrinor
                                         has an authorized capital of an unlimited number of Kitrinor Shares of which, as at the
                                         date hereof, Kitrinor has issued and outstanding 13,190,630 Kitrinor Shares. In addition,
                                         as at the date hereof, Kitrinor has issued and outstanding Kitrinor Convertible Securities
                                         entitling the holders thereof to acquire, and is party to agreements evidencing rights
                                         to acquire, a further 11,778,500 Kitrinor Shares. Except as aforesaid, there are no outstanding
                                         shares of Kitrinor or options, warrants, rights or conversion or exchange privileges
                                         or other securities entitling anyone to acquire any shares of Kitrinor or any other rights,
                                         agreements or commitments of any character whatsoever requiring the issuance, sale or
                                         transfer by Kitrinor of any shares of Kitrinor (including Kitrinor Shares) or any securities
                                         convertible into, exchangeable or exercisable for, or otherwise evidencing a right to
                                         acquire, any Kitrinor Shares or other equity securities of Kitrinor. All outstanding
                                         Kitrinor Shares have been duly authorized and validly issued, and are fully paid and
                                         non-assessable and are not subject to, nor have they been issued in violation of any
                                         pre-emptive rights, and all Kitrinor Shares issuable upon exercise or conversion of outstanding
                                         Kitrinor Convertible Securities or issuable pursuant to agreements evidencing rights
                                         to acquire shares will, when issued in accordance with their respective terms, be duly
                                         authorized and validly issued, fully paid and non-assessable and will not be subject
                                         to any pre-emptive rights. 

 

		(f)	Kitrinor
                                         is a “reporting issuer” under the laws of British Columbia, Alberta and Ontario
                                         and is not in default in any material respect of any requirements of applicable Canadian
                                         provincial securities Laws related thereto. Kitrinor is not, as at the date hereof, included
                                         on the list of defaulting reporting issuers maintained by any of the applicable securities
                                         regulatory authorities.

 

    	 

    	- 16 -

    

 

		(g)	The
                                         Kitrinor Financial Statements have been prepared in accordance with GAAP applied on a
                                         basis consistent with prior periods and present fairly, in all material respects, the
                                         assets, liabilities (whether accrued, absolute, contingent or otherwise) and financial
                                         condition of Kitrinor as at the respective dates of the Kitrinor Financial Statements
                                         and the sales, earnings and results of operations of Kitrinor for the respective periods
                                         covered by the Kitrinor Financial Statements.

 

		(h)	Since
                                         the date of the Kitrinor Financial Statements, Kitrinor has conducted its businesses
                                         only in the Ordinary Course. Since the date of the Kitrinor Financial Statements, (i)
                                         there has been no Material Adverse Effect on Kitrinor, or any condition, event or development
                                         involving a prospective change that would constitute a Material Adverse Effect on Kitrinor,
                                         and (ii) no liability or obligation of any nature (whether absolute, accrued, contingent
                                         or otherwise) material to Kitrinor has been incurred, other than in the ordinary and
                                         normal course of business.

 

		(i)	All
                                         taxes (including income tax, capital tax, payroll taxes, employer health tax, workers’
                                         compensation payments, property taxes, custom and land transfer taxes), duties, royalties,
                                         levies, imposts, assessments, deductions, charges or withholdings and all liabilities
                                         with respect thereto including any penalty and interest payable with respect thereto
                                         (collectively, “Taxes”) due and payable by Kitrinor have been paid
                                         (and all requisite filings in respect of Taxes have been filed in a timely manner) except
                                         for where the failure to pay such taxes would not constitute an adverse material fact
                                         of Kitrinor, or result in a Material Adverse Effect to Kitrinor taken as a whole.

 

		(j)	To
                                         the extent Kitrinor has conducted or is conducting any active business operations, it
                                         has or is in compliance in all material respects with all applicable Laws of each jurisdiction
                                         in which it carries on business and with all Laws, tariffs and directives material to
                                         its operation.

 

		(k)	Kitrinor
                                         is not subject to any obligation to make any investment in or to provide funds by way
                                         of loan, capital contribution or otherwise to any Persons. 

 

		(l)	The
                                         material contracts of Kitrinor previously disclosed in writing to Scythian (the “Material
                                         Contracts”) are the only material documents and contracts currently in effect.
                                         Each of the Material Contracts is in full force and effect and is unamended and there
                                         are no outstanding defaults or breaches under any of the Material Contracts on the part
                                         of Kitrinor which would have a Material Adverse Effect.

 

		(m)	There
                                         are no payments required to be made to directors, officers and employees of Kitrinor
                                         as a result of this Agreement or the Amalgamation under all contract settlements, bonus
                                         plans, retention agreements, change of control agreements and severance obligations (whether
                                         resulting from termination, change of control or alteration of duties).

 

		(n)	Except
                                         for customary indemnity to its directors and officers, Kitrinor is not a party to or
                                         bound by any agreement, guarantee, indemnification, or endorsement or like commitment
                                         respecting the obligations, liabilities (contingent or otherwise) or indebtedness of
                                         any Person, firm or corporation, other than as provided in the Ordinary Course of business,
                                         in transfer agency agreements, underwriting and agency agreements and agreements in connection
                                         with indebtedness of Kitrinor outstanding on the date hereof.

 

    	 

    	- 17 -

    

 

		(o)	The
                                         common shares of Kitrinor are listed and posted for trading solely on the TSXV and other
                                         than as publicly disclosed, no order ceasing or suspending trading in any securities
                                         of Kitrinor is currently outstanding and no proceeding for such purpose are pending,
                                         or to the knowledge of Kitrinor, threatened.

 

		(p)	Kitrinor
                                         has filed all proxy circulars, reports and other continuous disclosure documents required
                                         to be filed by it by applicable Canadian provincial securities Laws (“Securities
                                         Reports”). Each Securities Report was, as of the date of filing, in compliance
                                         in all material respects with all applicable requirements under applicable Canadian provincial
                                         securities Laws and none of the Securities Reports, as of their respective filing dates,
                                         contained any Misrepresentation. No material change has occurred in relation to Kitrinor
                                         which is not disclosed in the Securities Reports, and Kitrinor has not filed any confidential
                                         material change reports which continue to remain confidential.

 

		(q)	Kitrinor
                                         is not in any discussions and has not entered any outstanding proposals, letters of intent,
                                         agreements or any understandings with any Person (other than Scythian) with respect to
                                         an amalgamation, merger, business combination or similar transaction. 

 

		(r)	Kitrinor
                                         is not a party to any lease, management or service agreement that cannot be immediately
                                         terminated without notice or penalty or both.

 

		(s)	Kitrinor
                                         has made available to Scythian all material information concerning Kitrinor and all such
                                         information as made available to Scythian is accurate, true and correct in all material
                                         respects. 

 

		(t)	Other
                                         than as previously disclosed to Scythian, Kitrinor has not retained and will not retain
                                         any financial advisor, broker, agent or finder, or paid or agreed to pay any financial
                                         advisor, broker, agent or finder on account of this Agreement or the Amalgamation, any
                                         transaction contemplated hereby or any transaction presently ongoing or contemplated.

 

		(u)	all
                                         operations of Kitrinor, past or present, conducted on any real property, leased or owned
                                         by Kitrinor, past or present, and such properties themselves while occupied by Kitrinor
                                         have been and are in compliance in all material respects with all environmental Laws.

 

		(v)	Kitrinor
                                         has not treated or disposed, or arranged for the treatment or disposal, of any Hazardous
                                         Substances at any location: (A) listed on any list of hazardous sites or sites requiring
                                         Remedial Action issued by any Governmental Entity; (B) to the knowledge of Kitrinor,
                                         proposed for listing on any list issued by any Governmental Entity of hazardous sites
                                         or sites requiring Remedial Action, or any similar national, federal, state, provincial
                                         or municipal lists; or (C) which is the subject of enforcement actions by any Governmental
                                         Entity that creates the reasonable potential for any proceeding, action, or other claim
                                         against Kitrinor; to the best of Kitrinor’s knowledge, no mine, site, plant or
                                         facility now or previously owned, operated or leased by Kitrinor is proposed for listing
                                         on any list issued by any Governmental Entity of hazardous sites or sites requiring Remedial
                                         Action other than reclamation activities performed in the ordinary course of business
                                         or is the subject of Remedial Action and Kitrinor has not received any notice threatening
                                         or contemplating such action.

 

    	 

    	- 18 -

    

 

		(w)	Kitrinor
                                         has not caused or permitted the release of any Hazardous Substances on or to any of the
                                         assets or any other real property owned or leased or occupied by Kitrinor, either past
                                         or present, (including underlying soils and substrata, surface water and groundwater)
                                         in such a manner as: (A) would be reasonably likely to impose liability for cleanup,
                                         natural resource damages, loss of life, personal injury, nuisance or damage to other
                                         property; (B) would be reasonably likely to result in imposition of a lien, charge or
                                         other encumbrance on or the expropriation of any of the assets; or (C) at levels which
                                         exceed remediation and/or reclamation standards under any environmental Laws or standards
                                         published or administered by those Governmental Entities responsible for establishing
                                         or applying such standards.

 

		(x)	Kitrinor
                                         nor any of its operations, past or present, has been or is now the subject of any remedial
                                         order under any environmental Laws, nor has any investigation or evaluation been commenced
                                         as to whether any such remedial order is necessary or of any threat of any such remedial
                                         order or any circumstances which could result in the issuance of any such Remedial Order.

 

Article
5

REPRESENTATIONS AND WARRANTIES OF 10188760 Canada Inc. 

 

Section
5.1Representations and Warranties of 10188760 Canada Inc.

 

10188760
Canada Inc. represents and warrants, as of the date of this Agreement, as follows to Scythian and acknowledges and confirms that
Scythian is relying on such representations and warranties in connection with the transactions contemplated by this Agreement:

 

		(a)	10188760
                                         Canada Inc. is a corporation duly incorporated and validly subsisting under the federal
                                         laws of Canada and has the requisite corporate power and authority to carry on its business
                                         as it is now being conducted and to enter into this Agreement. 10188760 Canada Inc. is
                                         duly registered to do business and is in good standing in each jurisdiction in which
                                         the character of its properties, owned or leased, or the nature of its activities make
                                         such registration necessary, except where the failure to be so registered or in good
                                         standing would not have a Material Adverse Effect on 10188760 Canada Inc. 

 

		(b)	The
                                         execution and delivery of and performance by 10188760 Canada Inc. Canada Inc. of this
                                         Agreement and each of the Ancillary Agreements to which it is a party, and the consummation
                                         of the transactions contemplated by them have been duly authorized by all necessary corporate
                                         action on the part of 10188760 Canada Inc. 

 

    	 

    	- 19 -

    

 

		(c)	10188760
                                         Canada Inc. has an authorized capital of an unlimited number of 10188760 Canada Inc.
                                         Shares of which, as at the date hereof, 10188760 Canada Inc. has one (1) common share
                                         issued and outstanding. There are no outstanding shares of 10188760 Canada Inc. or options,
                                         warrants, rights or conversion or exchange privileges or other securities entitling anyone
                                         to acquire any shares of 10188760 Canada Inc. or any other rights, agreements or commitments
                                         of any character whatsoever requiring the issuance, sale or transfer by 10188760 Canada
                                         Inc. of any shares of 10188760 Canada Inc. (including 10188760 Canada Inc. Shares) or
                                         any securities convertible into, exchangeable or exercisable for, or otherwise evidencing
                                         a right to acquire, any 10188760 Canada Inc. Shares or other equity securities of 10188760
                                         Canada Inc. All outstanding 10188760 Canada Inc. Shares have been duly authorized and
                                         validly issued, and are fully paid and non-assessable and are not subject to, nor have
                                         they been issued in violation of any pre-emptive rights.

 

		(d)	The
                                         execution and delivery of and performance by 10188760 Canada Inc. of this Agreement and
                                         each of the Ancillary Agreements to which it is a party:

 

		(i)	do
                                         not and will not (or would not with the giving of notice, the lapse of time or the happening
                                         of any other event or condition) constitute or result in a violation or breach of, or
                                         conflict with, or allow any other Person to exercise any rights under, any of the terms
                                         or provisions of its Constating Documents;

 

		(ii)	do
                                         not and will not (or would not with the giving of notice, the lapse of time or the happening
                                         or any other event or condition) constitute or result in a breach or violation of, or
                                         conflict with or allow any other Person to exercise any rights under, any of the terms
                                         or provisions of any material contracts to which it is a party; and

 

		(iii)	do
                                         not and will not result in the violation of any Law.

 

		(e)	This
                                         Agreement and each of the Ancillary Agreements to which 10188760 Canada Inc. is a party
                                         have been duly executed and delivered by 10188760 Canada Inc. and constitute legal, valid
                                         and binding agreements of 10188760 Canada Inc. enforceable against it in accordance with
                                         their respective terms subject only to any limitation under applicable Laws relating
                                         to (i) bankruptcy, winding-up, insolvency, arrangement, fraudulent preference and conveyance,
                                         assignment and preference and other similar laws of general application affecting creditors’
                                         rights, and (ii) the discretion that a court may exercise in the granting of equitable
                                         remedies such as specific performance and injunction.

 

Article
6

COVENANTS OF THE PARTIES

 

Section
6.1Conduct of Business.

 

		(a)	During
                                         the period between the date of this Agreement and the earlier of the Effective Date and
                                         the termination of this Agreement in accordance with its terms, except as otherwise expressly
                                         contemplated by this Agreement, each of Scythian, Kitrinor and 10188760 Canada Inc. will
                                         conduct its business in the Ordinary Course.

 

    	 

    	- 20 -

    

 

		(b)	Without
                                         limiting the generality of Section 6.1(a), each of Scythian, Kitrinor and 10188760 Canada
                                         Inc. covenants as follows, as applicable, for the period between the date of this Agreement
                                         and the earlier of the Effective Date and the termination of this Agreement in accordance
                                         with its terms:

 

		(i)	Scythian’s
                                         business shall be conducted only in the usual and Ordinary Course and Scythian shall
                                         keep Kitrinor apprised of all material developments relating thereto.

 

		(ii)	Other
                                         than in connection with, or as contemplated by, the Scythian Meeting, the Kitrinor Meeting,
                                         the Offering and the Consolidation, each of Scythian, Kitrinor and 10188760 Canada Inc.
                                         shall not directly or indirectly do or permit to occur any of the following: (A) amend
                                         its Constating Documents; (B) declare, set aside or pay any dividend or other distribution
                                         or payment (whether in cash, shares or property) in respect of its outstanding shares;
                                         (C) (other than for issuances to employees for ongoing salary and severance obligations
                                         or pursuant to the Amalgamation), grant, sell or pledge or agree to issue, grant, sell
                                         or pledge any shares, or securities convertible into or exchangeable or exercisable for,
                                         or otherwise evidencing a right to acquire, shares of Scythian, Kitrinor or 10188760
                                         Canada Inc.; (D) redeem, purchase or otherwise acquire any of its outstanding shares
                                         or other securities, except as permitted hereunder; (E) split, combine or reclassify
                                         any of its shares; (F) reduce its stated capital; (G) adopt a plan of liquidation or
                                         resolutions providing for the liquidation, dissolution, merger, consolidation or reorganization
                                         of Scythian; (H) take any action, or refrain from taking any action, permit any action
                                         to be taken or not taken, inconsistent with this Agreement, which might directly or indirectly
                                         interfere with or adversely affect the consummation of the Amalgamation; or (I) enter
                                         into or modify any contract, agreement or commitment with respect to any of the foregoing.

 

		(c)	Each
                                         of Scythian, Kitrinor and 10188760 Canada Inc. shall not adopt or amend or make any contribution
                                         to any bonus, profit sharing, option, pension, retirement, deferred compensation, insurance,
                                         incentive compensation, other compensation or other similar plan, agreement, trust, fund
                                         or agreements 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, or agreements.

 

		(d)	Each
                                         of Scythian, Kitrinor and 10188760 Canada Inc. shall not grant any officer, director,
                                         employee or consultant an increase in compensation in any form or take any action with
                                         respect to the amendment or grant of any severance or termination pay policies for any
                                         directors, officers, employees or consultants, nor adopt or amend (other than to permit
                                         accelerated vesting of options) or make any contribution to any bonus, profit sharing,
                                         option, pension, retirement, deferred compensation, insurance, incentive compensation,
                                         other compensation or other similar plan from a trust fund for the benefit of directors,
                                         officers, employees or consultants, except as is necessary to comply with applicable
                                         local Law or with respect to existing provisions of any such plans, programs, arrangements
                                         or agreements.

 

    	 

    	- 21 -

    

 

		(e)	Each
                                         of Scythian, Kitrinor and 10188760 Canada Inc. shall promptly notify Scythian and Kitrinor
                                         in writing of any Material Adverse Effect on Scythian, Kitrinor or 10188760 Canada Inc.
                                         or of any material breach by Scythian, Kitrinor or 10188760 Canada Inc. of any representation
                                         or warranty provided by such party in this Agreement with respect to itself.

 

Section
6.2Actions to Satisfy Conditions.

 

		(a)	Scythian
                                         shall take all such actions as are within its power to control and use commercially reasonable
                                         efforts to cause other actions to be taken which are not within its power to control,
                                         so as to ensure compliance with all of the applicable conditions precedent in favour
                                         of Kitrinor as set forth in this Agreement and the Ancillary Agreements.

 

		(b)	Kitrinor
                                         shall take all such actions as are within its power to control and use commercially reasonable
                                         efforts to cause other actions to be taken which are not within its power to control,
                                         so as to ensure compliance with all of the applicable conditions precedent in favour
                                         of Scythian as set forth in this Agreement and the Ancillary Agreements.

 

Section
6.3No Shop.

 

The
Parties and their respective agents will not, nor will they permit any of their respective directors, officers, employees, representatives
or agents (including and without limitation, investment bankers, attorneys and accountants) directly or indirectly to, solicit
or accept any offer for the purchase of outstanding securities of such party or the business or the assets of such Party, whether
as a primary or backup offer, or take any other action that would reasonably be expected to lead to any commitment or agreement
to sell such Party or business or the assets of such Party. Notwithstanding the foregoing, nothing herein will restrict the Parties
hereto and their respective directors, officers, employees, representatives or agents (including without limitation, investment
bankers, attorneys and accountants) from taking such actions as may be required in order to discharge their obligations pursuant
to applicable corporate and securities Laws.

 

Article
7

CONDITIONS

 

Section
7.1Mutual Conditions Precedent.

 

The
Parties are not required to complete the Amalgamation unless each of the following conditions is satisfied on or prior to the
Effective Date, which conditions may only be waived, in whole or in part, by the mutual consent of each of the Parties:

 

		(a)	The
                                         Amalgamation and the Consolidation have been approved by Scythian Shareholders.

 

    	 

    	- 22 -

    

 

		(b)	No
                                         Law is in effect that makes the consummation of the Amalgamation illegal or otherwise
                                         prohibits or enjoins Scythian or 10188760 Canada Inc. from consummating the Amalgamation.

 

		(c)	There
                                         shall have been no law, statute, rule or regulation, domestic or foreign, enacted to
                                         promulgated which would prohibit or make illegal the consummation of the Amalgamation.
                                         

 

		(d)	Each
                                         Regulatory Approval necessary to consummate the Amalgamation, and all necessary approvals
                                         of the TSXV, as applicable, has been made, given or obtained on terms acceptable to Scythian
                                         and Kitrinor, each acting reasonably, and each such Regulatory Approval is in force and
                                         has not been modified.

 

		(e)	There
                                         shall not have occurred a Material Adverse Effect with respect to Scythian or Kitrinor.

 

		(f)	Each
                                         of Scythian and Kitrinor shall have approved the Consolidation. 

 

		(g)	The
                                         capital structure of each of Scythian, Kitrinor and 10188760 Canada Inc. immediately
                                         prior to the completion of the Consolidation and the Amalgamation shall be as set out
                                         and described in this Agreement.

 

		(h)	At
                                         the Effective Date, Kitrinor shall meet the continued listing requirements of the TSXV
                                         and the Kitrinor Shares following the Kitrinor Consolidation to be issued in connection
                                         with the Amalgamation (including in connection with the Financings) shall have been conditionally
                                         approved for listing on the TSXV. 

 

Section
7.2Conditions for the Benefit of Kitrinor.

 

		(a)	The
                                         completion of the transactions contemplated hereunder is subject to the following conditions
                                         being satisfied at or prior to the Effective Date, which conditions are for the exclusive
                                         benefit of Kitrinor and may be waived, in whole or in part, by Kitrinor in its sole discretion:

 

		(i)	The
                                         representations and warranties of Scythian which are qualified by references to materiality
                                         or by the expression “Material Adverse Effect” were true and correct
                                         as of the date of this Agreement and are true and correct as of the Effective Date, in
                                         all respects, and all other representations and warranties of Scythian were true and
                                         correct as of the date of this Agreement and are true and correct as of the Effective
                                         Date, in all material respects, in each case except for representations and warranties
                                         made as of a specified date, the accuracy of which shall be determined as of such specified
                                         date, and Scythian shall have executed and delivered a certificate of an officer to that
                                         effect.

 

		(ii)	Scythian
                                         shall have fulfilled or complied, in all material respects, with all covenants contained
                                         in this Agreement and the Ancillary Agreements to be fulfilled or complied with by Scythian
                                         at or prior to the Effective Date, and Scythian shall have executed and delivered a certificate
                                         to that effect.

 

    	 

    	- 23 -

    

 

		(b)	Scythian
                                         shall deliver or cause to be delivered to Kitrinor or prior to the Effective Date the
                                         following in form and substance satisfactory to Kitrinor acting reasonably:

 

		(i)	a
                                         certified copy of the Amalgamation Resolution;

 

		(ii)	a
                                         certified copy of (A) all resolutions of the board of directors of Scythian approving
                                         the entering into of this Agreement and the completion of the Amalgamation, (B) all resolutions
                                         of the Scythian Shareholders passed in connection with the Scythian Meeting; and (C)
                                         a list of the directors and officers of Scythian authorized to sign agreements together
                                         with their specimen signatures;

 

		(iii)	a
                                         certificate of status, compliance, good standing or like certificate with respect to
                                         Scythian issued by appropriate government officials of its jurisdiction of incorporation;
                                         and 

 

		(iv)	full
                                         and final salary accrual releases duly executed by Jonathan Gilbert, Mohammad Fazil,
                                         David Schrader and Harvey Lalach. 

 

Section
7.3Conditions for the Benefit of Scythian.

 

		(a)	The
                                         completion of the transactions contemplated hereunder is subject to the following conditions
                                         being satisfied at or prior to the Effective Date, which conditions are for the exclusive
                                         benefit of Scythian and may be waived, in whole or in part, by Scythian in its sole discretion:
                                         

 

		(i)	The
                                         representations and warranties of Kitrinor which are qualified by references to materiality
                                         and warranties were true and correct as of the date of this Agreement and are true and
                                         correct as of the Effective Date, in all respects, and all other representations and
                                         warranties of Kitrinor were true and correct as of the date of this Agreement and are
                                         true and correct as of the Effective Date, in all material respects, in each case except
                                         for representations and warranties made as of a specified date, the accuracy of which
                                         shall be determined as of such specified date, and Kitrinor shall have executed and delivered
                                         a certificate to that effect.

 

		(ii)	Kitrinor
                                         shall have fulfilled or complied, in all material respects, with all covenants contained
                                         in this Agreement and any Ancillary Agreement to be fulfilled or complied with by it
                                         at or prior to the Effective Date, and Kitrinor shall have executed and delivered a certificate
                                         to that effect.

 

		(iii)	Kitrinor
                                         shall have no liabilities or obligations (contingent or otherwise), inclusive of liabilities
                                         relating to the fees and disbursements of its legal counsel and auditors appointed in
                                         connection with the Amalgamation, and Kitrinor shall have executed and delivered a certificate
                                         to that effect.

 

    	 

    	- 24 -

    

 

		(iv)	Each
                                         of the directors and officers of Kitrinor shall have resigned from their respective positions.
                                         

 

		(v)	Kitirnor
                                         shall have obtained all requisite shareholder approval for the Kitrinor Meeting Matters.
                                         

 

		(vi)	Kitrinor
                                         and 10188760 Canada Inc. shall have obtained all consents and approvals necessary to
                                         consummate the transactions contemplated by the Business Combination Agreement in order
                                         that the transactions contemplated pursuant to the Business Combination Agreement not
                                         constitute a breach or violation of, or result in a right of termination or acceleration
                                         of, or creation of any encumbrance on any of Kitrinor’s or 10188760 Canada Inc.’s
                                         assets pursuant to the provisions of, any agreement, arrangement or undertaking of or
                                         affecting Kitrinor or any license, franchise or permit of or affecting Kitrinor.

 

		(vii)	The
                                         distribution of Kitrinor Shares following the Kitrinor Consolidation shall be exempt
                                         from the prospectus and registration requirements of applicable Canadian securities Laws
                                         either by virtue of exemptive relief from the securities regulatory authorities of each
                                         of the provinces of Canada or by virtue of applicable exemptions under Canadian securities
                                         laws and shall not be subject to resale restrictions under applicable Canadian securities
                                         laws (other than as applicable to control persons, pursuant to Section 2.6 of National
                                         Instrument 45-102 – Resale of Securities or pursuant to the requirements of the
                                         TSXV; and

 

		(viii)	Holders
                                         of not more than 5% of the issued and outstanding Scythian Shares following the Scythian
                                         Consolidation issued and outstanding as of the Effective Date shall have elected to,
                                         or continue to have contingent right to, exercise rights of dissent. 

 

		(b)	Kitrinor
                                         shall deliver or cause to be delivered to Scythian at or prior to the Effective Date
                                         the following in form and substance satisfactory to Scythian acting reasonably:

 

		(i)	a
                                         certified copy of (A) all resolutions of the board of directors of such entity approving
                                         the entering into of this Agreement and the completion of the Amalgamation, (B) all resolutions
                                         of the Kitrinor Shareholders passed in connection with the Kitrinor Meeting; and (C)
                                         a list of the directors and officers authorized to sign agreements together with their
                                         specimen signatures;

 

		(ii)	a
                                         certificate of status, compliance, good standing or like certificate with respect to
                                         Kitrinor issued by appropriate government officials of their respective jurisdictions
                                         of incorporation; and 

 

		(iii)	employment
                                         agreements duly executed by Jonathan Gilbert, David Schrader and Harvey Lalach.

 

    	 

    	- 25 -

    

 

Article
8

TERMINATION

 

Section
8.1Term.

 

This
Agreement shall be effective from the date hereof until the earlier of the Effective Date and the termination of this Agreement
in accordance with its terms.

 

Section
8.2Termination Rights.

 

This
Agreement may, by Notice in writing given prior to the Effective Date, be terminated:

 

		(a)	by
                                         mutual consent of Scythian and Kitrinor;

 

		(b)	either
                                         Scythian or Kitrinor if:

 

		(i)	the
                                         approval of Scythian Shareholders of the Amalgamation or the approval of Kitrinor Shareholders
                                         of all matters to be considered at the Kitrinor Meeting, is not obtained, provided that
                                         a Party may not terminate this Agreement pursuant to this Section 8.2(b)(i) if the failure
                                         to obtain such approval has been caused by, or is a result of, a breach by such Party
                                         of any of its representations or warranties or the failure of such Party to perform any
                                         of its covenants or agreements under this Agreement;

 

		(ii)	after
                                         the date of this Agreement, any Law is enacted, made, enforced or amended, as applicable,
                                         that makes the consummation of the Amalgamation illegal or otherwise permanently prohibits
                                         or enjoins Scythian or Kitrinor from consummating the Amalgamation, and such Law has,
                                         if applicable, become final and non-appealable; or

 

		(iii)	the
                                         Effective Date does not occur on or prior to the Outside Date, provided that a Party
                                         may not terminate this Agreement pursuant to this Section 8.2(b)(iii) if the failure
                                         of the Effective Date to so occur has been caused by, or is a result of, a breach by
                                         such Party of any of its representations or warranties or the failure of such Party to
                                         perform any of its covenants or agreements under this Agreement.

 

		(c)	by
                                         Scythian if a breach of any representation or warranty or failure to perform any covenant
                                         or agreement on the part of Kitrinor under this Agreement occurs that would cause any
                                         condition in Section 7.3(a)(i) or Section 7.3(a)(ii) not to be satisfied, and such breach
                                         or failure is incapable of being cured or is not cured on or prior to the Outside Date;
                                         provided that Scythian is not then in breach of this Agreement so as to cause any condition
                                         in Section 7.2(a)(i) or Section 7.2(a)(ii) not to be satisfied.

 

    	 

    	- 26 -

    

 

		(d)	by
                                         Kitrinor if a breach of any representation or warranty or failure to perform any covenant
                                         or agreement on the part of Scythian under this Agreement occurs that would cause any
                                         condition in Section 7.2(a)(i) or Section 7.2(a)(ii) not to be satisfied, and such breach
                                         or failure is incapable of being cured or is not cured on or prior to the Outside Date;
                                         provided that Kitrinor is not then in breach of this Agreement so as to cause any condition
                                         in Section 7.3(a)(i) or Section 7.3(a)(ii) not to be satisfied.

 

Section
8.3Effect of Termination.

 

		(a)	If
                                         a Party waives compliance with any of the conditions, obligations or covenants contained
                                         in this Agreement, the waiver will be without prejudice to any of its rights of termination
                                         in the event of non-fulfilment, non-observance or non-performance of any other condition,
                                         obligation or covenant in whole or in part. 

 

		(b)	If
                                         this Agreement is terminated, the Parties are released from all of their respective obligations
                                         under this Agreement except that each Party’s obligations under Section 9.3 and
                                         Section 9.4 will survive.

 

Article
9

MISCELLANEOUS

 

Section
9.1Notices.

 

Any
notice, direction or other communication (each a “Notice”) given regarding the matters contemplated by this
Agreement or any Ancillary Agreement must be in writing, sent by personal delivery, courier or by electronic mail and addressed:

 

	 	(a)	to
    Kitrinor at:

  

    	 

    	- 27 -

    

 

	 	(b)	to
    Scythian at:

  

A
Notice is deemed to be delivered and received (i) if sent by personal delivery, on the date of delivery if it is a Business Day
and the delivery was made prior to 4:00 p.m. (local time in place of receipt) and otherwise on the next Business Day, (ii) if
sent by same-day service courier, on the date of delivery if sent on a Business Day and delivery was made prior to 4:00 p.m. (local
time in place of receipt) and otherwise on the next Business Day, (iii) if sent by overnight courier, on the next Business Day,
or (iv) if sent by e-mail or facsimile, on the Business Day following the date of confirmation of transmission by the originating
facsimile. A Party may change its address for service from time to time by providing a Notice in accordance with the foregoing.
Any subsequent Notice must be sent to the Party at its changed address. Any element of a Party’s address that is not specifically
changed in a Notice will be assumed not to be changed. Sending a copy of a Notice to a Party’s legal counsel as contemplated
above is for information purposes only and does not constitute delivery of the Notice to that Party. The failure to send a copy
of a Notice to legal counsel does not invalidate delivery of that Notice to a Party.

 

Section
9.2Time of the Essence.

 

Time
is of the essence in this Agreement.

 

Section
9.3Announcements.

 

No
press release, public statement or announcement or other public disclosure (a “Public
Statement”) with respect to this Agreement or the transactions contemplated
in this Agreement may be made except with the prior written consent and joint approval of Scythian and Kitrinor, or if required
by Law or a Governmental Entity. Where the Public Statement is required by Law or a Governmental Entity, the Party required to
make the Public Statement will use commercially reasonable efforts to obtain the approval of the other Party as to the form, nature
and extent of the disclosure.

 

    	 

    	- 28 -

    

 

Section
9.4Expenses.

 

Each
Party will pay for its own costs and expenses incurred in connection with this Agreement and the transactions contemplated herein.

 

Section
9.5Amendments.

 

This
Agreement may only be amended, supplemented or otherwise modified by written agreement signed by the Parties.

 

Section
9.6Waiver.

 

No
waiver of any of the provisions of this Agreement or any Ancillary Agreement will constitute a waiver of any other provision (whether
or not similar). No waiver will be binding unless executed in writing by the Party to be bound by the waiver. A Party’s
failure or delay in exercising any right under this Agreement will not operate as a waiver of that right. A single or partial
exercise of any right will not preclude a Party from any other or further exercise of that right or the exercise of any other
right.

 

Section
9.7Entire Agreement.

 

This
Agreement, together with the Ancillary Agreements, constitutes the entire agreement between the Parties with respect to the transactions
contemplated by this Agreement and supersedes all prior agreements, understandings, negotiations and discussions, whether oral
or written, of the Parties. There are no representations, warranties, covenants, conditions or other agreements, express or implied,
collateral, statutory or otherwise, between the Parties in connection with the subject matter of this Agreement, except as specifically
set forth in this Agreement or any Ancillary Agreement. The Parties have not relied and
are not relying on any other information, discussion or understanding in entering into and completing the transactions contemplated
by this Agreement and the Ancillary Agreements. If there is any conflict or inconsistency between the provisions of this Agreement
and the provisions of any Ancillary Agreement, the provisions of this Agreement shall govern.

 

Section
9.8Successors and Assigns.

 

		(a)	This
                                         Agreement becomes effective only when executed by Scythian and Kitrinor. After that time,
                                         it will be binding upon and enure to the benefit of Scythian and Kitrinor and their respective
                                         successors and permitted assigns.

 

		(b)	Neither
                                         this Agreement nor any of the rights or obligations under this Agreement are assignable
                                         or transferable by any Party without the prior written consent of the other Parties.

 

Section
9.9Severability.

 

If
any provision of this Agreement is determined to be illegal, invalid or unenforceable by an arbitrator or any court of competent
jurisdiction, that provision will be severed from this Agreement and the remaining provisions shall remain in full force and effect.

 

    	 

    	- 29 -

    

 

Section
9.10Governing Law.

 

		(a)	This
                                         Agreement will be governed by and interpreted and enforced in accordance with the laws
                                         of the Province of Ontario and the federal laws of Canada applicable therein.

 

		(b)	Each
                                         Party irrevocably attorns and submits to the exclusive jurisdiction of the Ontario courts
                                         situated in the City of Toronto and waives objection to the venue of any proceeding in
                                         such court or that such court provides an inconvenient forum. 

 

Section
9.11Counterparts.

 

This
Agreement may be executed in any number of counterparts (including counterparts by facsimile) and all such counterparts taken
together shall be deemed to constitute one and the same instrument.

 

[Remainder
of page intentionally left blank]

 

    	 

     

    

 

IN
WITNESS WHEREOF the Parties have executed this Business Combination Agreement.

 

	 	scythian
    biosciences inc.
	 	 	 
	 	Per	 
	 	 	Jonathan
    Gilbert
	 	 	Chief
    Executive Officer 
	 	 	
	 	Kitrinor
    Metals inc.
	 	 	 
	 	Per:	 
	 	 	Lisa
    McCormack 
	 	 	President
	 	 	 
	 	10188760 Canada Inc
	 	 	 
	 	By:	 
	 	 	Authorized
    Signatory

 

    	 

     

    

 

Schedule
“A”

FORM OF AMALGAMATION AGREEMENT

 

THIS
AGREEMENT is dated as of the [●] day of [●], 2017,

 

By
and A M O N G:

 

scythian
biosciences inc., a corporation existing
under the federal laws of Canada

(hereinafter
referred to as “Scythian”)

 

OF
THE FIRST PART;

-
and -

 

10188760
Canada Inc., a corporation existing under the federal laws of Canada

(hereinafter
referred to as “10188760 Canada Inc.”)

 

OF
THE SECOND PART;

-
and -

 

Kitrinor
metals Inc., a corporation existing under
the laws of the Province of Ontario

(hereinafter
referred to as “Kitrinor”)

 

OF
THE THIRD PART.

 

WHEREAS
Scythian and 10188760 Canada Inc. wish to amalgamate and continue as one corporation to be known as “Scythian Biosciences
Corp.” in accordance with the terms and conditions hereof;

 

AND
WHEREAS 10188760 Canada Inc. is a wholly-owned subsidiary of Kitrinor and has not carried on any active business;

 

AND
WHEREAS Kitrinor and Scythian are parties to the Business Combination Agreement which contemplates such amalgamation;

 

AND
WHEREAS the parties have entered into this Agreement to provide for the matters referred to in the foregoing recitals and
for other matters relating to the proposed amalgamation;

 

NOW
THEREFORE THIS AGREEMENT WITNESSES that for and in consideration of the mutual covenants and agreements herein contained and
other lawful and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree
as follows:

 

    	A-1

    	 

    

 

	1.	Definitions.
                                         In this Agreement (including the recitals hereto):

 

		(a)	“Act”
                                         means the Canada Business Corporations Act as from time to time amended or re-enacted;

 

		(b)	“Agreement”
                                         means this amalgamation agreement;

 

		(c)	“Amalco”
                                         means the continuing corporation constituted upon the amalgamation of the Amalgamating
                                         Parties pursuant to the Amalgamation;

 

		(d)	“Amalco
                                         Shares” means the common shares in the capital of Amalco;

 

		(e)	“Amalgamating
                                         Parties” means, collectively, Scythian and 10188760 Canada Inc.;

 

		(f)	“Amalgamation”
                                         means the amalgamation of Scythian and 10188760 Canada Inc. on the terms and conditions
                                         set forth in this Agreement;

 

		(g)	“Articles
                                         of Amalgamation” means the articles of amalgamation to be filed with Corporations
                                         Canada in order to effect the Amalgamation;

 

		(h)	“Business
                                         Combination” means the business combination between Kitrinor and Scythian wherein
                                         Kitrinor will acquire 100% of the issued and outstanding shares of Scythian by way of
                                         the Amalgamation;

 

		(i)	“Business
                                         Combination Agreement” means the business combination agreement dated June
                                         6, 2017 among Kitrinor, Scythian and 10188760 Canada Inc. governing the terms and conditions
                                         of the Business Combination, as amended from time to time.

 

		(j)	“Business
                                         Combination Date” means the date the Business Combination is completed, as
                                         evidenced by the issuance of the Certificate of Amalgamation giving effect to the Amalgamation;

 

		(k)	“Business
                                         Day” means a day other than a Saturday, Sunday or a civic or statutory holiday
                                         in the City of Toronto, Ontario;

 

		(l)	“Certificate
                                         of Amalgamation” means the certificate of amalgamation to be issued by the
                                         Director, as date stamped on the Articles of Amalgamation, evidencing that the Articles
                                         of Amalgamation are effective;

 

		(m)	“Consolidation”
                                         means the consolidation of Scythian Shares on a 80:1 basis in connection with the Business
                                         Combination and the consolidation of Kitrinor Shares on a 20:1 basis in connection with
                                         the Business Combination.

 

		(n)	“Convertible
                                         Securities” means options, warrants, rights or conversion or exchange privileges
                                         or other securities entitling anyone to acquire any shares or any other rights, agreements
                                         or commitments of any character whatsoever requiring the issuance, sale or transfer of
                                         any shares or any securities convertible into, exchangeable or exercisable for, or otherwise
                                         evidencing a right to acquire, any shares or other equity securities. 

 

    	A-2

    	 

    

 

		(o)	“Director”
                                         means the Director appointed under Section 260 of the Act;

 

		(p)	“Effective
                                         Time” means 12:01 a.m. (Toronto time) on the Business Combination Date;

 

		(q)	“Exchange
                                         Ratio” means 1:1;

 

		(r)	“Kitrinor
                                         Convertible Securities” means, collectively, all outstanding rights to acquire
                                         Kitrinor Shares pursuant to Kitrinor’s outstanding stock options, warrants, broker
                                         warrants, convertible debentures, rights of conversion or exchange privileges or other
                                         securities entitling the holder thereof to acquire any Kitrinor Shares, or any other
                                         rights, agreements or commitment of any character requiring the issuance, sale or transfer
                                         by Kitrinor of any Kitrinor Shares. 

 

		(s)	“Kitrinor
                                         Options” means the 213,500 existing stock options of Kitrinor, each entitling
                                         the holder to purchase one Kitrinor Share at an exercise price of $0.25 per share, in
                                         accordance with their terms;

 

		(t)	“Kitrinor
                                         Replacement Warrants” means, as adjusted for the Consolidation and following
                                         the completion of the Business Combination, the replacement warrants of the Resulting
                                         Issuer to be issued in exchange for and replacement of the Kitrinor Warrants;

 

		(u)	“Kitrinor
                                         Replacement Options” means, as adjusted for the Consolidation and following
                                         the completion of the Business Combination, the replacement options of the Resulting
                                         Issuer to be issued in exchange for and replacement of the Kitrinor Options;

 

		(v)	“Kitrinor
                                         Warrants” means the 11,565,000 common share purchase warrants to purchase Kitrinor
                                         Shares, exercisable at prices ranging from $0.05 to $0.25 per Kitrinor Share and expiring
                                         on dates ranging from December 17, 2017 to October 11, 2019;

 

		(w)	“Kitrinor
                                         Securityholder” means a registered holder owning Kitrinor Shares, Kitrinor
                                         Options, Kitrinor Warrants or any Kitrinor Convertible Securities prior to the filing
                                         of the Articles of Amalgamation; 

 

		(x)	“Kitrinor
                                         Shares” means the common shares in the capital of Kitrinor, as presently constituted
                                         on the date hereof;

 

		(y)	“Ministry”
                                         means the Ministry of Innovation, Science and Economic Development Canada.

 

		(z)	“Offering”
                                         means a private placement offering of 33,212,500 Scythian Subscription Receipts, pursuant
                                         to the terms of an agency agreement entered into between Scythian, Clarus Securities
                                         Inc., Haywood Securities Inc. and Canaccord Genuity Corp. dated March 13, 2017.

 

		(aa)	“Paid-up
                                         Capital” has the meaning assigned to the term “paid-up capital”
                                         in subsection 89(1) of the Income Tax Act (Canada));

 

    	A-3

    	 

    

 

		(bb)	“Resulting
                                         Issuer” means Kitrinor upon completion of the Business Combination;

 

		(cc)	“Resulting
                                         Issuer Shares” means the common shares in the capital of the Resulting Issuer;

 

		(dd)	“Scythian
                                         Broker Warrants” means the 2,324,876 common share purchase warrants to purchase
                                         Scythian Shares, exercisable at $0.40 per common share and expiring on March 13, 2019
                                         and March 31, 2019, issued in connection with the Offering;

 

		(ee)	“Scythian
                                         Convertible Securities” means, collectively, all outstanding rights to acquire
                                         Scythian Shares pursuant to Scythian’s outstanding stock options, warrants, broker
                                         warrants, convertible debentures, rights of conversion or exchange privileges or other
                                         securities entitling the holder thereof to acquire any Scythian Shares, or any other
                                         rights, agreements or commitment of any character requiring the issuance, sale or transfer
                                         by Scythian of any Scythian Shares.

 

		(ff)	“Scythian
                                         Finder Warrants” means the 2,076,162 common share purchase warrants to purchase
                                         Scythian Shares, exercisable at $0.15 per common share and expiring on March 20, 2020
                                         and March 31, 2020.

 

		(gg)	“Scythian
                                         Replacement Broker Warrants” means, as adjusted for the Consolidation and following
                                         the completion of the Business Combination, the replacement broker warrants of the Resulting
                                         Issuer to be issued in exchange for and replacement of the Scythian Broker Warrants.

 

		(hh)	“Scythian
                                         Replacement Finder Warrants” means, as adjusted for the Consolidation and following
                                         the completion of the Business Combination, the replacement finder warrants of the Resulting
                                         Issuer to be issued in exchange for and replacement of the Scythian Finder Warrants.

 

		(ii)	“Scythian
                                         Replacement Options” means, as adjusted for the Consolidation and following
                                         the completion of the Business Combination, the replacement options of the Resulting
                                         Issuer to be issued in exchange for and replacement of the Scythian Options;

 

		(jj)	“Scythian
                                         Securityholder” means a registered holder owning Scythian Shares, Scythian
                                         Broker Warrants, Scythian Finder Warrants, Scythian Options or any Scythian Convertible
                                         Securities prior to the filing of the Articles of Amalgamation; 

 

		(kk)	“Scythian
                                         Shares” means the common shares in the capital of Scythian, as presently constituted
                                         on the date hereof;

 

		(ll)	“Scythian
                                         Subscription Receipts” means the 33,212,500 subscription receipts of Scythian
                                         issued in connection with the Offering; and

 

		(mm)	“10188760
                                         Canada Inc. Shares” means the common shares in the capital of 10188760 Canada
                                         Inc.; and

 

		(nn)	“TSXV”
                                         means the TSX Venture Exchange. 

 

    	A-4

    	 

    

 

	2.	Amalgamation.
                                         In accordance with the Business Combination Agreement, the Amalgamating Parties hereby
                                         agree to amalgamate and continue as one corporation under the provisions of the Act upon
                                         the terms and conditions hereinafter set out.

 

	3.	Certain
                                         Phrases, etc. In this Agreement (i) the words “including”, “includes”
                                         and “include” mean “including (or includes or include) without limitation”,
                                         and (ii) the phrase “the aggregate of”, “the total of”, “the
                                         sum of”, or a phrase of similar meaning means “the aggregate (or total or
                                         sum), without duplication, of”. In the computation of periods of time from a specified
                                         date to a later specified date, unless otherwise expressly stated, the word “from”
                                         means “from and including” and the words “to” and “until”
                                         each mean “to but excluding”.

 

	4.	Effect
                                         of Amalgamation. At the Effective Time, subject to the Act:

 

		(a)	the
                                         amalgamation of the Amalgamating Parties and their continuance as one corporation, Amalco,
                                         under the terms and conditions prescribed in this Agreement shall be effective;

 

		(b)	the
                                         property of each of the Amalgamating Parties shall continue to be the property of Amalco;

 

		(c)	Amalco
                                         will be a wholly-owned subsidiary of the Resulting Issuer;

 

		(d)	Amalco
                                         shall continue to be liable for the obligations of each of the Amalgamating Parties;

 

		(e)	any
                                         existing cause of action, claim or liability to prosecution with respect to either or
                                         both of the Amalgamating Parties shall be unaffected;

 

		(f)	any
                                         civil, criminal or administrative action or proceeding pending by or against any of the
                                         Amalgamating Parties may be continued to be prosecuted by or against Amalco;

 

		(g)	any
                                         conviction against, or ruling, order or judgment in favour of or against, any of the
                                         Amalgamating Parties may be enforced by or against Amalco; and

 

		(h)	the
                                         Articles of Amalgamation shall be deemed to be the articles of incorporation of Amalco
                                         and the Certificate of Amalgamation shall be deemed to be the certificate of incorporation
                                         of Amalco.

 

	5.	Name.
                                         The name of Amalco shall be “Scythian Biosciences Inc.”

 

	6.	Registered
                                         Office. The registered office of Amalco shall be located at 100 King Street West,
                                         Suite 1600, Toronto, Ontario, M5X 1G5.

 

	7.	Authorized
                                         Capital. The authorized capital of Amalco shall consist of an unlimited number of
                                         Amalco Shares, which shares shall have the rights, privileges, restrictions and conditions
                                         as set out in the Act.

 

    	A-5

    	 

    

 

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

 

	9.	Number
                                         of Directors. The minimum number of directors of Amalco shall be one (1) and the
                                         maximum number of directors of Amalco shall be ten (10).

 

	10.	By-laws.
                                         The by-laws of Scythian shall, so far as applicable, be the by-laws of Amalco until repealed
                                         or amended in the normal manner provided for in the Act. Prior to the Effective Time,
                                         a copy of such by-laws may be examined at the registered address of Scythian at any time
                                         during regular business hours. 

 

	11.	First
                                         Directors. The first directors of Amalco shall be the Persons whose names and addresses
                                         are set out below, who shall hold office until the first annual meeting of shareholders
                                         of Amalco or until their successors are duly elected or appointed and will be responsible
                                         for the subsequent management and operation of Amalco: 

 

	 	Name	 	Address
	 	Jonathan Gilbert	 	 
	 	Michael Petter	 	 
	 	Peter Thomas Benz	 	 
	 	Roger Rai	 	 
	 	Gary Leong	 	 

 

	12.	Treatment
                                         of Issued Capital. Following the completion of the Consolidation, on the Effective
                                         Time:

 

		(a)	each
                                         issued and outstanding 10188760 Canada Inc. Share will be cancelled and replaced by one
                                         issued and fully paid Amalco Share for each 10188760 Canada Inc. Share held by the Resulting
                                         Issuer;

 

		(b)	the
                                         Scythian Subscription Receipts shall be deemed to be automatically exercised, without
                                         additional payment therefor, into Scythian Shares in accordance with their terms; 

 

		(c)	Scythian
                                         Shares shall be exchanged for fully paid and non-assessable Resulting Issuer Shares on
                                         the basis of the Exchange Ratio;

 

		(d)	Kitrinor
                                         Shares shall be cancelled and replaced with an equivalent number of Resulting Issuer
                                         Shares;

 

    	A-6

    	 

    

 

		(e)	Scythian
                                         Shares shall be replaced in accordance with the provisions of Section 12(c) hereof will
                                         be cancelled;

 

		(f)	each
                                         outstanding Scythian Broker Warrant will be replaced with one (1) Scythian Replacement
                                         Broker Warrant, and each such Scythian Broker Warrant will be cancelled; 

 

		(g)	each
                                         outstanding Scythian Finder Warrant will be replaced with one (1) Scythian Replacement
                                         Finder Warrant, and each such Scythian Finder Warrant will be cancelled; 

 

		(h)	all
                                         other warrants held by Scythian Securityholders will be exchanged for Resulting Issuer
                                         warrants in accordance with the Exchange Ratio; 

 

		(i)	each
                                         outstanding Scythian Option will be replaced with one (1) Scythian Replacement Option,
                                         and each such Scythian Option will be cancelled; 

 

		(j)	each
                                         outstanding Kitrinor Warrant will be replaced with the equivalent warrants of the Resulting
                                         Issuer, and each such Kitrinor Warrant will be cancelled;

 

		(k)	each
                                         outstanding Kitrinor Option will be replaced with the equivalent options of the Resulting
                                         Issuer, and each such Kitrinor Option will be cancelled; and 

 

		(l)	as
                                         consideration for the issuance of Kitrinor Shares in exchange for the Scythian Shares,
                                         Amalco shall issue to the Resulting Issuer one (1) Amalco Share for each Kitrinor Share
                                         so issued.

 

	13.	No
                                         Fractional Shares or Securities upon Conversion. Notwithstanding Section 12 of this Agreement,
                                         no Scythian Securityholder or Kitrinor Securityholder shall be entitled to, and the Resulting
                                         Issuer will not issue, fractions of Resulting Issuer Shares, Scythian Replacement Broker
                                         Warrants, Scythian Replacement Finder Warrants, Scythian Replacement Options or Kitrinor
                                         Replacement Warrants, as the case may be and no cash amount will be payable by the Resulting
                                         Issuer in lieu thereof. To the extent any Scythian Securityholder or Kitrinor Securityholder
                                         is entitled to receive a fractional Resulting Issuer Share, Scythian Replacement Broker
                                         Warrant, Scythian Replacement Finder Warrants, Scythian Replacement Options or Kitrinor
                                         Replacement Broker Warrants, as the case may be, such fraction shall be rounded down
                                         to the closest whole number of the applicable security. 

 

		14.	Certificates.
                                         On the Business Combination Date:

 

		(a)	the
                                         registered holders of Scythian Shares, Scythian Broker Warrants, Scythian Finder Warrants,
                                         Kitrinor Shares, Kitrinor Warrants and Kitrinor Options (collectively, the “Original
                                         Securities”) shall be deemed to be the registered holders of the Resulting
                                         Issuer Shares, Scythian Replacement Broker Warrants, Scythian Replacement Finder Warrants,
                                         Scythian Replacement Options, Kitrinor Replacement Warrants and Kitrinor Replacement
                                         Options (collectively, the “Replacement Securities”), respectively,
                                         to which they are entitled hereunder.

 

		(b)	Kitrinor,
                                         as the registered holder of the 10188760 Canada Inc. Shares, shall be deemed to be the
                                         registered holder of the Amalco Shares to which it is entitled hereunder and, upon surrender
                                         of the certificates representing such 10188760 Canada Inc. Shares to Amalco, Kitrinor
                                         shall be entitled to receive a share certificate representing the number of Amalco Shares
                                         to which it is entitled as set forth in Section 12 hereof;

 

    	A-7

    	 

    

 

		(c)	share
                                         certificates evidencing Scythian Shares or Kitrinor Shares and certificates representing
                                         the other Original Securities shall cease to represent any claim upon or interest in
                                         Scythian, Kitrinor or Amalco other than the right of the holder to receive, pursuant
                                         to the terms hereof and the Amalgamation, the applicable Replacement Securities in accordance
                                         with Section 12 hereof; and

 

		(d)	Upon
                                         the delivery and surrender by a Scythian Shareholder to the Resulting Issuer of the certificates
                                         representing the issued and outstanding Scythian Broker Warrants and Scythian Finder
                                         Warrants, such Scythian Securityholders shall be entitled, in exchange, to receive certificates
                                         representing the Scythian Replacement Broker Warrants and Scythian Replacement Finder
                                         Warrants, as the case may be, as set forth in Section 12 hereof;

 

	15.	Lost
                                         Certificates. In the event any certificate which subsequent to the Effective Time
                                         represented one or more outstanding Original Securities that were exchanged pursuant
                                         to Section 12 shall have been lost, stolen or destroyed, upon the making of an affidavit
                                         of that fact by the holder of such Original Security claiming such certificate to be
                                         lost, stolen or destroyed, the Resulting Issuer will issue in exchange for such lost,
                                         stolen or destroyed certificate, one or more certificates representing the applicable
                                         Replacement Security pursuant to Section 12. The holder to whom certificates representing
                                         Replacement Securities are to be issued shall, as a condition precedent to the issuance
                                         thereof, give a bond satisfactory to the Resulting Issuer in such sum as the Resulting
                                         Issuer may direct or otherwise indemnify the Resulting Issuer in a manner satisfactory
                                         to the Resulting Issuer against any claim that may be made against the Resulting Issuer
                                         with respect to the certificate alleged to have been lost, stolen or destroyed.

 

	16.	Amalco
                                         Stated Capital. The amount to be added to the stated capital account maintained in
                                         respect of the Amalco Shares in connection with the issue of Amalco Shares under Section
                                         12 hereof on the Business Combination Date shall be the amount which is the sum of (i)
                                         the Paid-up Capital, determined immediately before the Effective Time, of all the issued
                                         and outstanding Scythian Shares and (ii) the Paid-up Capital, determined immediately
                                         before the Effective Time, of the issued and outstanding 10188760 Canada Inc. Shares
                                         converted into Amalco Shares.

 

	17.	Kitrinor
                                         Stated Capital. Kitrinor shall add an amount to the stated capital maintained in
                                         respect of the Kitrinor Shares an amount equal to the Paid-Up Capital of the Scythian
                                         Shares, determined immediately prior to the Effective Time.

 

    	A-8

    	 

    

 

	18.	Covenants
                                         of Scythian. Scythian covenants and agrees with 10188760 Canada Inc. and Kitrinor
                                         that it will:

 

		(a)	use
                                         reasonable commercial efforts to obtain a resolution of the holders of Scythian Shares
                                         approving the Amalgamation and the Consolidation, this Agreement and the transactions
                                         contemplated hereby in accordance with the Act;

 

		(b)	use
                                         reasonable efforts to cause each of the conditions precedent set forth in Sections 25
                                         and 26 hereof to be complied with; and

 

		(c)	subject
                                         to the approval of the shareholders of each of Scythian and 10188760 Canada Inc. being
                                         obtained for the completion of the Amalgamation and subject to all applicable regulatory
                                         approvals being obtained, thereafter jointly with 10188760 Canada Inc. file with the
                                         Ministry the Articles of Amalgamation and such other documents as may be required to
                                         give effect to the Amalgamation upon and subject to the terms and conditions of this
                                         Agreement.

 

	19.	Covenants
                                         of Kitrinor. Kitrinor covenants and agrees with Scythian that it will:

 

		(a)	sign
                                         a resolution as sole shareholder of 10188760 Canada Inc. in favour of the approval of
                                         the Amalgamation, this Agreement and the transactions contemplated hereby in accordance
                                         with the Act;

 

		(b)	use
                                         reasonable efforts to cause each of the conditions precedent set forth in Sections 25
                                         and 27 hereof to be complied with; and

 

		(c)	subject
                                         to the approval of the holders of Scythian Shares being obtained for the completion of
                                         the Amalgamation, and the obtaining of all applicable regulatory approvals (including
                                         that of the TSXV) and the issuance of the Certificate of Amalgamation, issue that number
                                         of Replacement Securities as required by Sections (c) to Section (k) hereof. 

 

	20.	Covenants
                                         of 10188760 Canada Inc. 10188760 Canada Inc. covenants and agrees with Scythian and
                                         Kitrinor that it will not from the date of execution hereof to the Business Combination
                                         Date, except with the prior written consent of Scythian and Kitrinor, conduct any business
                                         which would prevent 10188760 Canada Inc. or Amalco from performing any of their respective
                                         obligations hereunder.

 

	21.	Further
                                         Covenants of 10188760 Canada Inc. 10188760 Canada Inc. further covenants and agrees
                                         with Scythian that it will:

 

		(a)	use
                                         its best efforts to cause each of the conditions precedent set forth in Section 25 hereof
                                         to be complied with; and

 

		(b)	subject
                                         to the approval of the holders of Scythian Shares and the sole shareholder of 10188760
                                         Canada Inc. being obtained and subject to the obtaining of all applicable regulatory
                                         approvals, thereafter jointly with Scythian file with the Ministry the Articles of Amalgamation
                                         and such other documents as may be required to give effect to the Amalgamation upon and
                                         subject to the terms and conditions of this Agreement.

 

	22.	Representation
                                         and Warranty of Kitrinor. Kitrinor hereby represents and warrants to and in favour
                                         of Scythian and 10188760 Canada Inc. Canada Inc. and acknowledges that Scythian and 10188760
                                         Canada Inc. are relying upon such representation and warranty, that Kitrinor is duly
                                         authorized to execute and deliver this Agreement and this Agreement is a valid and binding
                                         agreement, enforceable against Kitrinor in accordance with its terms.

 

    	A-9

    	 

    

 

	23.	Representation
                                         and Warranty of Scythian. Scythian hereby represents and warrants to and in favour
                                         of Kitrinor and 10188760 Canada Inc., and acknowledges that Kitrinor and 10188760 Canada
                                         Inc. are relying upon such representation and warranty, that Scythian is duly authorized
                                         to execute and deliver this Agreement and this Agreement is a valid and binding agreement,
                                         enforceable against Scythian in accordance with its terms.

 

	24.	Representation
                                         and Warranty of 10188760 Canada Inc. 10188760 Canada Inc. represents and warrants
                                         to and in favour of Scythian and Kitrinor, and acknowledges that Scythian and Kitrinor
                                         are relying upon such representations and warranty, that 10188760 Canada Inc. is duly
                                         authorized to execute and deliver this Agreement and this Agreement is a valid and binding
                                         agreement, enforceable against 10188760 Canada Inc. in accordance with its terms.

 

	25.	General
                                         Conditions Precedent. The respective obligations of the parties hereto to consummate
                                         the transactions contemplated hereby, and in particular the Amalgamation, are subject
                                         to the satisfaction, on or before the Business Combination Date, of the following conditions,
                                         any of which may be waived by the consent of each of the parties without prejudice to
                                         their rights to rely on any other or others of such conditions:

 

		(a)	this
                                         Agreement and the transactions contemplated hereby, including, in particular, the Amalgamation,
                                         shall be approved by the sole shareholder of 10188760 Canada Inc. and by the holders
                                         of Scythian Shares in accordance with the Act;

 

		(b)	all
                                         the conditions required to close the Business Combination set out herein and in the Business
                                         Combination Agreement being met or waived; and

 

		(c)	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.

 

	26.	Conditions
                                         to Obligations of Kitrinor and 10188760 Canada Inc. The obligations of Kitrinor and
                                         10188760 Canada Inc. to consummate the transactions contemplated hereby and in particular
                                         the issue of the Kitrinor Shares and Replacement Securities and the Amalgamation, as
                                         the case may be, are subject to the satisfaction, on or before the Business Combination
                                         Date, of the conditions for the benefit of Kitrinor set forth in the Business Combination
                                         Agreement governing the terms and conditions of the Business Combination and of the following
                                         conditions:

 

		(a)	the
                                         acts of Scythian to be performed on or before the Business Combination Date pursuant
                                         to the terms of this Agreement shall have been duly performed by it and there shall have
                                         been no material adverse change in the financial condition or business of Scythian, taken
                                         as a whole, from and after the date hereof; and

 

		(b)	Kitrinor
                                         and 10188760 Canada Inc. shall have received a certificate from a senior officer of Scythian
                                         confirming that the conditions set forth in Sections 26 and 27(a) hereof have been satisfied.

 

The
conditions described above are for the exclusive benefit of Kitrinor and 10188760 Canada Inc. and may be asserted by Kitrinor
and 10188760 Canada Inc. regardless of the circumstances or may be waived by Kitrinor and 10188760 Canada Inc. in their sole discretion,
in whole or in part, at any time and from time to time without prejudice to any other rights which Kitrinor and 10188760 Canada
Inc. may have.

 

    	A-10

    	 

    

 

	27.	Conditions
                                         to Obligations of Scythian. The obligations of Scythian to consummate the transactions
                                         contemplated hereby and in particular the Amalgamation are subject to the satisfaction,
                                         on or before the Business Combination Date, of the conditions for the benefit of Scythian
                                         set forth in the Business Combination Agreement governing the terms and conditions of
                                         the Business Combination and of the following conditions:

 

		(a)	each
                                         of the acts of Kitrinor and 10188760 Canada Inc. to be performed on or before the Business
                                         Combination Date pursuant to the terms of this Agreement shall have been duly performed
                                         by them and there shall have been no material adverse change in the financial condition
                                         or business of Kitrinor and 10188760 Canada Inc., taken as a whole, from and after the
                                         date hereof; and

 

		(b)	Scythian
                                         shall have received a certificate from a senior officer of each of Kitrinor and 10188760
                                         Canada Inc. confirming that the conditions set forth in Sections 26 and 27(a) hereof
                                         have been satisfied.

 

The
conditions described above are for the exclusive benefit of Scythian and may be asserted by Scythian regardless of the circumstances
or may be waived by Scythian in its sole discretion, in whole or in part, at any time and from time to time without prejudice
to any other rights which Scythian may have.

 

	28.	Amendment.
                                         This Agreement may at any time and from time to time be amended by written agreement
                                         of the parties hereto without, subject to applicable law, further notice to or authorization
                                         on the part of their respective shareholders and any such amendment may, without limitation:

 

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

 

		(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 contained herein and waive or modify performance
                                         of any of the obligations of the parties hereto; or

 

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

 

provided
that no such amendment shall change the provisions hereof regarding the consideration to be received by Scythian Securityholders
in exchange for their Scythian Shares, Scythian Broker Warrants, Scythian Finder Warrants or Scythian Options without approval
by the Scythian Securityholders given in the same manner as required for the approval of the Amalgamation.

 

    	A-11

    	 

    

 

	29.	Termination.
                                         This Agreement may, prior to the issuance of the Certificate of Amalgamation, be terminated
                                         by mutual agreement of the respective boards of directors of the parties hereto, without
                                         further action on the part of the shareholders of Scythian or 10188760 Canada Inc. This
                                         Agreement shall also terminate without further notice or agreement if:

 

		(a)	the
                                         Amalgamation is not approved by the shareholders of Scythian entitled to vote in accordance
                                         with the Act; or

 

		(b)	the
                                         Business Combination Agreement is terminated.

 

	30.	Binding
                                         Effect. This Agreement shall be binding upon and enure to the benefit of the parties
                                         hereto and their successors and permitted assigns.

 

	31.	Assignment.
                                         No party to this Agreement may assign any of its rights or obligations under this Agreement
                                         without the prior written consent of each of the other parties.

 

	32.	Further
                                         Assurances. Each of the parties hereto agrees to execute and deliver such further
                                         instruments and to do such further reasonable acts and things as may be necessary or
                                         appropriate to carry out the intent of this Agreement.

 

	33.	Notice.
                                         Any notice which a party may desire to give or serve upon another party shall be in writing
                                         and may be delivered, mailed by prepaid registered mail, return receipt requested or
                                         sent by telecopy transmission to the following addresses:

 

	 	(a)	to
    Kitrinor at:
	 	 	 
	 	(b)	to
    Scythian at:

   

    	A-12

    	 

    

 

	 	and
    a copy to:

  

or
to such other address as the party to or upon whom notice is to be given or served has communicated to the other parties by notice
given or served in the manner provided for in this Section. In the case of delivery or telecopy transmission, notice shall be
deemed to be given on the date of delivery and in the case of mailing, notice shall be deemed to be given on the third Business
Day after such mailing.

 

	34.	Time
                                         of Essence. Time shall be of the essence of this Agreement.

 

	35.	Governing
                                         Law. This Agreement shall be governed by and construed in accordance with the Laws
                                         of the Province of Ontario and the federal Laws of Canada applicable therein.

 

[Remainder
of page intentionally left blank]

 

    	A-13

    	 

    

 

IN
WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of the date first above written.

 

	 	scythian
    biosciences inc.
	 	 	 
	 	Per:	 
	 	 	Jonathan
    Gilbert
	 	 	Chief
    Executive Officer
	 	 	 
	 	Kitrinor
    metals Inc.
	 	 	 
	 	Per:	 
	 	 	Lisa
    McCormack
	 	 	President
	 	 	 
	 	10188760
    Canada Inc
	 	 	 
	 	Per:	 
	 	 	Lisa
    McCormack
	 	 	President

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