Document:

Exhibit
4.2

 

Form
of Representative’s Warrant to Purchase Ordinary Shares

 

THE
REGISTERED HOLDER OF THIS REPRESENTATIVE’S WARRANT BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS
REPRESENTATIVE’S WARRANT EXCEPT AS HEREIN PROVIDED AND THE REGISTERED HOLDER OF THIS REPRESENTATIVE’S WARRANT AGREES THAT
IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS REPRESENTATIVE’S WARRANT OR CAUSE IT TO BE THE SUBJECT OF ANY HEDGING,
SHORT SALE, DERIVATIVE, PUT, OR CALL TRANSACTION THAT WOULD RESULT IN THE EFFECTIVE ECONOMIC DISPOSITION OF THIS REPRESENTATIVE’S
WARRANT BY ANY PERSON FOR A PERIOD OF ONE HUNDRED EIGHTY (180) DAYS FOLLOWING THE EFFECTIVE DATE (DEFINED BELOW) TO ANYONE OTHER THAN
(I) VIEWTRADE SECURITIES, INC. OR AN UNDERWRITER OR A SELECTED DEALER IN CONNECTION WITH THE OFFERING, OR (II) A BONA FIDE OFFICER OR
PARTNER, ASSOCIATED PERSON OR AFFILIATE OF VIEWTRADE SECURITIES, INC. OR OF ANY SUCH UNDERWRITER OR SELECTED DEALER AND IN ACCORDANCE
WITH FINRA RULE 5110(E)(2).

 

THIS
WARRANT IS VOID AFTER 5:00 P.M., EASTERN TIME, [●].1

 

REPRESENTATIVE’S
WARRANT

 

For
the Purchase of [●] Ordinary Shares

of

J-STAR
HOLDING CO., LTD.

 

1.
Representative’s Warrant. THIS CERTIFIES THAT, pursuant to that certain Underwriting Agreement, dated [●] (the
“Underwriting Agreement”), by and between J-STAR HOLDING CO., LTD. (the “Company”), and
ViewTrade Securities, Inc., as representative of the underwriters named on Annex A thereto, providing for the initial public offering
(the “Offering”) of ordinary share, par value US$0.50 per share, of the Company (the “Ordinary Shares”),
ViewTrade Securities, Inc. or its assigns (“Holder”), as registered owner of this Purchase Warrant, is entitled, at
any time or from time to time on or after [●] (the “Commencement Date”)2, and at or before
5:00 p.m., Eastern time, [●]3 (the “Expiration Date”), but not thereafter, to subscribe for,
purchase and receive, in whole or in part, up to [●]4 Ordinary Share (the “Shares”), subject
to adjustment as provided in Section 6 hereof. If the Expiration Date is a day on which banking institutions are authorized by
law or executive order to close, then this Representative’s Warrant may be exercised on the next succeeding day which is not such
a day in accordance with the terms herein. During the period commencing on the date hereof and ending on the Expiration Date, the Company
agrees not to take any action that would terminate this Representative’s Warrant. This Representative’s Warrant is initially
exercisable at $[●] per Share5; provided, however, that upon the occurrence of any of the events
specified in Section 6 hereof, the rights granted by this Representative’s Warrant, including the exercise price per Share and
the number of Shares to be received upon such exercise, shall be adjusted as therein specified. This Representative’s Warrant is
being issued pursuant to the terms of the Underwriting Agreement providing for the Offering. The term “Effective Date”
shall mean the effective date of the registration statement in connection with the Offering. The term “Exercise Price”
shall mean the initial exercise price or the adjusted exercise price, depending on the context.

 

1
Date that is five years from the Effective Date.

2
Six months from Effective Date.

3
Date that is five years from the Effective Date.

4
[       ]% of the Shares sold in the Offering.

5
[       ]% of the price of the Shares sold in the Offering.

 

    	 

     

    

 

2.
Exercise.

 

2.1
Exercise Form. In order to exercise this Representative’s Warrant, the exercise form attached hereto must be duly executed
and completed and delivered to the Company, together with this Representative’s Warrant and payment of the Exercise Price for the
Shares being purchased payable in cash by wire transfer of immediately available funds to an account designated by the Company or by
certified check or official bank check to the order of the Company. If the subscription rights represented hereby shall not be exercised
at or before 5:00 p.m., Eastern time, on the Expiration Date, this Representative’s Warrant shall become and be void without further
force or effect, and all rights represented hereby shall cease and expire.

 

2.2
Cashless Exercise. At any time after the Commencement Date, in lieu of exercising this Representative’s Warrant by payment
of cash or check payable to the order of the Company pursuant to Section 2.1 above, Holder may elect to receive the number of
Shares equal to the value of this Representative’s Warrant (or the portion thereof being exercised) by surrender of this Representative’s
Warrant to the Company, together with the exercise form attached hereto, in which event the Company shall issue to Holder Shares in accordance
with the following formula:

 

Y(A-B)

X
= A

 

Where,

 

X
= The number of Shares to be issued to Holder;

Y
= The number of Shares that would be issuable upon exercise of this Representative’s Warrant if such exercise were by means of
a cash exercise pursuant to Section 2.1 rather than a cashless exercise pursuant to this Section 2.2;

A
= The fair market value of one Share, as determined in accordance with the provisions of this Section 2; and

B
= The Exercise Price in effect under this Representative’s Warrant at the time the election to exercise this Representative’s
Warrant on a cashless basis is made pursuant to this Section 2.

 

For
purposes of this Section 2.2, the fair market value of a Share is defined as follows:

 

(i)
if the Ordinary Shares are traded on a national securities exchange, the fair market value shall be deemed to be the closing sales price
on such exchange on the Trading Day immediately prior to the date the exercise form is submitted to the Company in connection with the
exercise of this Representative’s Warrant; or

 

(ii)
if the Ordinary Shares are traded over-the-counter (i.e., on the OTCQB or OTCQX Markets operated by OTC Markets Group, Inc., or any similar
over-the-counter market), the fair market value shall be deemed to be the closing bid price on the Trading Day immediately prior to the
date the exercise form is submitted to the Company in connection with the exercise of this Representative’s Warrant; or

 

(iii)
if there is no active public market for the Ordinary Shares, the value shall be the fair market value thereof, as determined in good
faith by the Company’s Board of Directors.

 

“Trading
Day” means a date on which the Ordinary Shares are traded on the NYSE, the Nasdaq Capital Market, the Nasdaq Global Market,
the Nasdaq Global Select Market, the New York Stock Exchange or the OTC Bulletin Board (or any successors to any of the foregoing).

 

For
the avoidance of doubt, if there is no effective registration statement registering, or no current prospectus available for, the resale
of the Shares underlying this Representative’s Warrant by the Holder, then this Representative’s Warrant may be exercised,
in whole or in part, at such time by means of a cashless exercise in accordance with the provisions of this Representative’s Warrant.

 

    	 

     

    

 

2.3
Mechanics of Exercise.

 

(i)
Delivery of Shares Upon Exercise. The Company shall use commercially reasonable efforts to cause the Shares purchased hereunder
to be transmitted by the Transfer Agent to the Holder by crediting the account of the Holder’s prime broker with The Depository
Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant
in such system and either (A) there is an effective registration statement permitting the issuance of the Shares or resale of the Shares
or (B) this Representative’s Warrant is being exercised via cashless exercise, and otherwise by delivery to the address specified
by the Holder in the Notice of Exercise by the date that is two Trading Days after the latest of (A) the delivery to the Company of the
Notice of Exercise, (B) surrender of this Representative’s Warrant (if required) and (C) receipt by the Company of the aggregate
Exercise Price as set forth above (including by cashless exercise, if permitted) (such date, the “Share Delivery Date”).
The Shares shall be deemed to have been issued, and the Holder or any other person so designated to be named therein shall be deemed
to have become a holder of record of such Shares for all purposes, as of the date the Representative’s Warrant has been exercised
and payment to the Company of the aggregate Exercise Price (or by cashless exercise, if permitted) has been received by the Company and
all taxes required to be paid by the Holder, if any, pursuant to Section 2.3(vi) prior to the issuance of such Shares have been
paid.

 

(ii)
Delivery of New Warrants Upon Exercise. If this Representative’s Warrant shall have been exercised in part, the Company
shall, at the written request of the Holder and upon surrender of this Representative’s Warrant, at the time of delivery of the
Shares, deliver to the Holder a new Representative’s Warrant evidencing the rights of the Holder to purchase the unpurchased Shares
called for by this Representative’s Warrant, which new Representative’s Warrant shall in all other respects be identical
with this Representative’s Warrant.

 

(iii)
Rescission Rights. If the Company fails to cause its transfer agent to transmit to the Holder the Shares pursuant to Section
2.3(i) by the Share Delivery Date, unless such failure was not caused by the fault or negligence of the Company, then the Holder
will have the right to rescind such exercise upon written notice to the Company within one Trading Day after the Share Delivery Date.

 

(iv)
Compensation for Buy-In on Failure to Timely Deliver Shares Upon Exercise. In addition to any other rights available to the Holder,
if the Holder has taken all actions necessary under the terms of this Representative’s Warrant for such Holder to receive the Shares,
if the Company fails to cause the Transfer Agent to transmit to the Holder the Shares pursuant to an exercise on or before the Share
Delivery Date, unless such failure was not caused by the fault or negligence of the Company, and if after such date the Holder is required
by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, Ordinary
Shares to deliver in satisfaction of a sale by the Holder of the which the Holder anticipated receiving upon such exercise (a “Buy-In”),
then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including
brokerage commissions and any other applicable fees, if any) for the Ordinary Shares so purchased exceeds (y) the amount obtained by
multiplying (1) the number of Shares that the Company was required to deliver to the Holder in connection with the exercise at issue
times (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder,
either reinstate the portion of the Representative’s Warrant and equivalent number of Shares for which such exercise was not honored
(in which case such exercise shall be deemed rescinded) or deliver to the Holder the number of Ordinary Shares that would have been issued
had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Ordinary Shares
having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of Shares with an aggregate sale price
giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required
to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect
of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s right
to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance
and/or injunctive relief with respect to the Company’s failure to timely deliver Ordinary Shares upon exercise of the Representative’s
Warrant as required pursuant to the terms hereof.

 

(v)
No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Representative’s Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such
exercise, the Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such
fraction multiplied by the Exercise Price or round up to the next whole share.

 

    	 

     

    

 

(vi)
Charges, Taxes and Expenses. Issuance of Shares shall be made without charge to the Holder for any issue or transfer tax or other
incidental expense in respect of the issuance of such Shares, all of which taxes and expenses shall be paid by the Company, and such
Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided, however,
that, in the event Shares are to be issued in a name other than the name of the Holder, this Representative’s Warrant when surrendered
for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the Company may require, as
a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. The Company shall pay all
transfer agent fees required for same-day processing of any Notice of Exercise.

 

3.
Transfer - General Restrictions. The Holder agrees by his, her or its acceptance hereof, that such Holder will not: (a) sell,
transfer, assign, pledge or hypothecate this Representative’s Warrant for a period of one hundred eighty (180) days following the
Effective Date to anyone other than: (i) ViewTrade Securities, Inc. or another underwriter or a selected dealer participating in the
Offering, or (ii) a bona fide officer or partner of ViewTrade Securities, Inc. or of any such underwriter or selected dealer, in each
case in accordance with FINRA Rule 5110(e)(1), or (b) cause this Representative’s Warrant or the securities issuable hereunder
to be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition
of this Representative’s Warrant or the securities hereunder, except as provided for in FINRA Rule 5110(e)(2). One hundred eighty
(180) days after the Effective Date, transfers to others may be made subject to compliance with or exemptions from applicable securities
laws. In order to make any permitted assignment, the Holder must deliver to the Company the assignment form attached hereto duly executed
and completed, together with this Representative’s Warrant and payment of all transfer taxes, if any, payable in connection therewith.
The Company shall within five (5) business days transfer this Representative’s Warrant on the books of the Company and shall execute
and deliver a new Representative’s Warrant or Representative’s Warrants of like tenor to the appropriate assignee(s) expressly
evidencing the right to purchase the aggregate number of Shares purchasable hereunder or such portion of such number as shall be contemplated
by any such assignment. The Company shall register this Representative’s Warrant, upon records to be maintained by the Company
for that purpose (the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company
may deem and treat the registered Holder of this Representative’s Warrant as the absolute owner hereof for the purpose of any exercise
hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

 

4.
Registration. The Company shall be required to keep a registration statement effective on Form F-1 (or Form F-3, if the Company
is eligible to use such form) until such date that is the earlier of the date when all of the Shares underlying this Representative’s
Warrant have been publicly sold by the Holder or such time as Rule 144 or another similar exemption under the Securities Act of 1933,
as amended, is available for the sale of all of such Holder’s Shares underlying this Representative’s Warrant without limitation
during a three-month period without registration.

 

5.
New Representative’s Warrants to be Issued.

 

5.1
Partial Exercise or Transfer. Subject to the restrictions in Section 3 hereof, this Representative’s Warrant may
be exercised or assigned in whole or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this
Representative’s Warrant for cancellation, together with the duly executed exercise or assignment form and funds sufficient to
pay any Exercise Price and/or transfer tax if exercised pursuant to Section 2 hereto, the Company shall cause to be delivered
to the Holder without charge a new Representative’s Warrant of like tenor to this Representative’s Warrant in the name of
the Holder evidencing the right of the Holder to purchase the number of Shares purchasable hereunder as to which this Representative’s
Warrant has not been exercised or assigned.

 

5.2
Replacement on Loss. Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or
mutilation of this Representative’s Warrant, the Company, at its own expense, shall execute and deliver a new Representative’s
Warrant of like tenor and date. Any such new Representative’s Warrant executed and delivered as a result of such loss, theft, mutilation
or destruction shall constitute a substitute contractual obligation on the part of the Company.

 

    	 

     

    

 

6.
Adjustments.

 

6.1
Adjustments to Exercise Price and Number of Shares. The Exercise Price and the number of Shares underlying this Representative’s
Warrant shall be subject to adjustment from time to time as hereinafter set forth:

 

6.1.1
Share Dividends; Split Ups. If, after the date hereof, and subject to the provisions of Section 6.3 below, the number of
outstanding Ordinary Shares is increased by a stock dividend payable in Ordinary Shares or by a split up of Ordinary Shares, spin off,
reclassification, corporate rearrangement, scheme of arrangement or other similar transaction, then, on the effective day thereof, the
number of Shares purchasable hereunder shall be increased in proportion to such increase in outstanding Ordinary Shares, and the Exercise
Price shall be proportionately decreased. Any adjustment made pursuant to this Section 6.1.1 shall become effective immediately
after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective
immediately after the effective date in the case of a subdivision, combination or re-classification.

 

6.1.2
Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 6.1.1 above, if at any time during which
this Representative’s Warrant is outstanding the Company grants, issues or sells any securities of the Company which by their terms
are convertible into or exercisable for Ordinary Shares (“Ordinary Share Equivalents”) or other rights to purchase
stock, warrants, securities or other property, pro rata to all of the record holders of the Ordinary Shares (the “Purchase Rights”),
and not the Holder, then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase
Rights which the Holder could have acquired if the Holder had held the number of Ordinary Shares acquirable upon complete exercise of
this Representative’s Warrant immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase
Rights, or, if no such record is taken, the date as of which the record holders of Ordinary Shares are to be determined for the grant,
issue or sale of such Purchase Rights. The provisions of this Section 6.1.2 will not apply to any grant, issuance or sale of Ordinary
Share Equivalents or other rights to purchase stock, warrants, securities or other property of the Company which is not made pro rata
to all of the record holders of Ordinary Shares.

 

6.1.3
Aggregation of Shares. If, after the date hereof, and subject to the provisions of Section 6.3 below, the number of outstanding
Ordinary Shares is decreased by a consolidation, combination or reclassification of Ordinary Shares or other similar event, then, on
the effective date thereof, the number of Shares purchasable hereunder shall be decreased in proportion to such decrease in outstanding
Shares, and the Exercise Price shall be proportionately increased.

 

6.1.4
Replacement of Shares upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Ordinary
Shares other than a change covered by Section 6.1.1, 6.1.2 or 6.1.3 hereof or that solely affects the par value of such
Ordinary Shares, or in the case of any share reconstruction or amalgamation or merger or consolidation of the Company with or into another
corporation or other entity (other than a consolidation or share reconstruction or amalgamation in which the Company is the continuing
corporation and that does not result in any reclassification or reorganization of the outstanding Ordinary Shares), or in the case of
any sale or conveyance to another corporation or entity of the property of the Company as an entirety or substantially as an entirety,
or in the case any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another person) is
completed pursuant to which holders of Ordinary Shares are permitted to sell, tender or exchange their shares for other securities, cash
or property and has been accepted by the holders of 50% or more of the outstanding Ordinary Shares, or in the case the Company, directly
or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization of the Ordinary Shares
or any compulsory share exchange pursuant to which the Ordinary Shares are effectively converted into or exchanged for other securities,
cash or property, or (in the case the Company, directly or indirectly, in one or more related transactions consummates a stock or share
purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme
of arrangement) with another person or group of persons, whereby such other Person or group acquires more than 50% of the outstanding
Ordinary Shares (not including any Ordinary Shares held by the other Person or other Persons making or party to, or associated or affiliated
with the other Persons making or party to, such stock or share purchase agreement or other business combination), then the Holder of
this Representative’s Warrant shall have the right thereafter (until the expiration of the right of exercise of this Representative’s
Warrant) to receive upon the exercise hereof, for the same aggregate Exercise Price payable hereunder immediately prior to such event,
the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization,
share reconstruction or amalgamation, or consolidation, or upon a dissolution following any such sale or transfer, by a Holder of the
number of Shares of the Company obtainable upon exercise of this Representative’s Warrant immediately prior to such event; and
if any reclassification also results in a change in Shares covered by Section 6.1.1, 6.1.2 or 6.1.3, then such adjustment
shall be made pursuant to Sections 6.1.1, 6.1.2 or 6.1.3 and this Section 6.1.4. The provisions of this Section
6.1.4 shall similarly apply to successive reclassifications, reorganizations, share reconstructions or amalgamations, or consolidations,
sales or other transfers.

 

    	 

     

    

 

6.1.5
Changes in Form of Representative’s Warrant. This form of Representative’s Warrant need not be changed because of
any change pursuant to this Section 6.1, and any Representative’s Warrant issued after such change may state the same Exercise
Price and the same number of Shares as are stated in the initial Representative’s Warrant. The acceptance by the Holder of the
issuance of a new Representative’s Warrant reflecting a required or permissive change shall not be deemed to waive any rights to
an adjustment occurring after the Commencement Date or the computation thereof.

 

6.2
Substitute Representative’s Warrant. In case of any consolidation of the Company with, or share reconstruction or amalgamation
of the Company with or into, another corporation or other entity (other than a consolidation or share reconstruction or amalgamation
which does not result in any reclassification or change of the outstanding Ordinary Shares), the corporation or other entity formed by
such consolidation or share reconstruction or amalgamation shall execute and deliver to the Holder a supplemental Representative’s
Warrant providing that the holder of each Representative’s Warrant then outstanding or to be outstanding shall have the right thereafter
(until the stated expiration of such Representative’s Warrant) to receive, upon exercise of such Representative’s Warrant,
the kind and amount of shares of stock and other securities and property receivable upon such consolidation or share reconstruction or
amalgamation, by a holder of the number of Shares of the Company for which such Representative’s Warrant might have been exercised
immediately prior to such consolidation, share reconstruction or amalgamation, sale or transfer. Such supplemental Representative’s
Warrant shall provide for adjustments which shall be identical to the adjustments provided for in this Section 6. The above provision
of this Section shall similarly apply to successive consolidations or share reconstructions or amalgamations.

 

6.3
Elimination of Fractional Interests. The Company shall not be required to issue fractions of Shares upon the exercise of this
Representative’s Warrant, nor shall it be required to issue scrip or pay cash in lieu of any fractional interests, it being the
intent of the parties that all fractional interests shall be eliminated by rounding any fraction up or down, as the case may be, to the
nearest whole number of Shares or other securities, properties or rights.

 

6.4
Notice to Holder.

 

6.4.1
Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 6, the
Company shall promptly provide the Holder with a notice setting forth the Exercise Price after such adjustment and any resulting adjustment
to the number of Shares and setting forth a brief statement of the facts requiring such adjustment.

 

6.4.2
Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on
the Ordinary Shares, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Ordinary Shares, (C)
the Company shall authorize the granting to all holders of the Ordinary Shares rights or warrants to subscribe for or purchase any shares
of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with
any reclassification of the Ordinary Shares, any consolidation or merger to which the Company is a party, any sale or transfer of all
or substantially all of the assets of the Company, or any compulsory share exchange whereby the Ordinary Shares are converted into other
securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up
of the affairs of the Company, then, in each case, the Company shall provide the Holder with, at least 10 days prior to the applicable
record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such
dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Ordinary
Shares of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date
on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and
the date as of which it is expected that holders of the Ordinary Shares of record shall be entitled to exchange their Ordinary Shares
for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange;
provided that the failure to provide such notice or any defect therein or in the provision thereof shall not affect the validity
of the corporate action required to be specified in such notice. The Holder shall remain entitled to exercise this Representative’s
Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice except as may
otherwise be expressly set forth herein. Notwithstanding the foregoing, no notice need be given to the Holder if the Company makes a
public announcement of the applicable event via nationally distributed press release or via a publicly available and legally compliant
filing with the U.S. Securities and Exchange Commission.

 

    	 

     

    

 

7.
Reservation and Listing; Registration Rights.

 

7.1
The Company shall at all times reserve and keep available out of its authorized Ordinary Shares, solely for the purpose of issuance upon
exercise of this Representative’s Warrant, such number of Shares or other securities, properties or rights as shall be issuable
upon the exercise thereof. The Company covenants and agrees that, upon exercise of this Representative’s Warrant and payment of
the Exercise Price therefor, in accordance with the terms hereby, all Shares and other securities issuable upon such exercise shall be
duly and validly issued, fully paid and non-assessable and not subject to preemptive or similar rights of any stockholder and free and
clear of all liens, taxes and charges. As long as this Representative’s Warrant shall be outstanding, the Company shall use commercially
reasonable efforts to cause all Shares issuable upon exercise of this Representative’s Warrant to be listed (subject to official
notice of issuance) on all national securities exchanges (or, if applicable, on the OTCQB or OTCQX Markets operated by OTC Markets Group,
Inc., or any similar over-the-counter market) on which the Shares issued to the public in the Offering may then be listed and/or quoted.

 

7.2
To the extent the Company does not maintain an effective registration statement for the Shares and cashless exercise is unavailable to
any Holder under Section 2.2 hereof pursuant to which all of the Shares issuable upon exercise of this Representative’s
Warrant under Section 2.2 would be tradable upon exercise of this Representative’s Warrant upon issuance, and in the further
event that the Company files a registration statement with the Securities and Exchange Commission to register its Ordinary Shares (other
than a registration statement on Form F-4 or S-8, or on another form, or in another context, in which such “piggyback” registration
would be inappropriate (including, without limitation, a “universal shelf” registration statement or any prospectus supplement
related thereto)), then, for the term of this Representative’s Warrant, the Company shall give written notice of such proposed
filing to the Holder as soon as practicable but in no event less than 10 days before the anticipated filing date, which notice shall
describe the amount and type of securities to be included in such offering, the intended method(s) of distribution, and the name of the
proposed managing underwriter or underwriters, if any, of the offering, and offer to the Holder in such notice the opportunity to register
the sale of such number of Shares as such Holder may request in writing within five days following receipt of such notice (a “Piggyback
Registration”). The Company shall use commercially reasonable efforts to cause such Shares to be included in such registration
and shall use commercially reasonable efforts to cause the managing underwriter or underwriters of a proposed underwritten offering to
permit the Shares requested to be included in a Piggyback Registration on the same terms and conditions as any similar securities of
the Company and to permit the sale or other disposition of such Shares in accordance with the intended method(s) of distribution thereof.
All Holders proposing to distribute their securities through a Piggyback Registration that involves an underwriter or underwriters shall
enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such Piggyback Registration.
Notwithstanding the provisions of this Section 7.2, such right to request Piggyback Registration shall terminate on the fifth anniversary
of the Effective Date, in accordance with FINRA Rule 5110(g)(8)(D).

 

8.
Certain Notice Requirements.

 

8.1
Holder’s Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holder the right to vote or consent
or to receive notice as a stockholder for the election of directors or any other matter, or as having any rights whatsoever as a stockholder
of the Company. If, however, at any time prior to the expiration of this Representative’s Warrant and its exercise, any of the
events described in Section 8.2 shall occur, then, in one or more of said events, the Company shall give written notice of such
event at least five (5) days prior to the date fixed as a record date or the date of closing the transfer books (the “Notice
Date”) for the determination of the stockholders entitled to such dividend, distribution, conversion or exchange of securities
or subscription rights, or entitled to vote on such proposed dissolution, liquidation, winding up or sale. Such notice shall specify
such record date or the date of the closing of the transfer books, as the case may be. Notwithstanding the foregoing, the Company shall
deliver to each Holder a copy of each notice given to the other stockholders of the Company at the same time and in the same manner that
such notice is given to the stockholders; provided, however, that the Company shall not be obligated to provide any written notice under
this Section 8 if it makes a public announcement of the applicable event via nationally distributed press release or via a publicly
available and legally compliant filing with the U.S. Securities and Exchange Commission.

 

    	 

     

    

 

8.2
Events Requiring Notice. The Company shall be required to give the notice described in this Section 8 upon one or more
of the following events: (i) if the Company shall take a record of the holders of its shares for the purpose of entitling them to receive
a dividend or distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out of retained
earnings, as indicated by the accounting treatment of such dividend or distribution on the books of the Company, (ii) the Company shall
offer to all the holders of its shares any additional shares of capital stock of the Company or securities convertible into or exchangeable
for shares of capital stock of the Company, or any option, right or warrant to subscribe therefor, or (iii) a dissolution, liquidation
or winding up of the Company (other than in connection with a consolidation or share reconstruction or amalgamation) or a sale of all
or substantially all of its property, assets and business shall be proposed.

 

8.3
Notice of Change in Exercise Price; Notice of Exercise Price. The Company shall, within five (5) business days after an event
requiring a change in the Exercise Price pursuant to Section 6 hereof, send notice to the Holder of such event and change (“Price
Notice”). The Price Notice shall describe the event causing the change and the method of calculating the same and shall be
certified as being true and accurate by the Company’s Chief Executive Officer and Chief Financial Officer. The Company shall, within
five (5) business days after receipt by the Company of a written request by the Holder, send notice to the Holder of the Exercise Price
then in effect and the number of Shares or the amount, if any, of other shares of stock, securities or assets then issuable upon exercise
of this Representative’s Warrant and shall be certified as being true and accurate by the Company’s Chief Executive Officer
and Chief Financial Officer.

 

8.4
Transmittal of Notices. All notices, requests, consents and other communications under this Representative’s Warrant shall
be in writing and shall be deemed to have been duly made when (1) hand delivered, (2) mailed by express mail or private courier service,
or (3) if sent by electronic mail, on the day the notice was sent if during regular business hours and, if sent outside of regular business
hours, on the following business day, to following addresses or to such other addresses as the Company or Holder may designate by notice
to the other party:

 

If
to the Holder:

 

ViewTrade
Securities, Inc.

7280
West Palmetto Park Road, Suite 310

Boca
Raton, FL 33433

Attention:
Douglas Aguililla

Email:
dougagui@viewtrade.com

 

with
a copy (which shall not constitute notice) to:

 

Ellenoff
Grossman & Schole LLP

1345
Avenue of the Americas

New
York, New York 10105

Attention:
Richard I. Anslow, Esq.

Email:
ranslow@egsllp.com

 

If
to the Company:

 

J-Star
Holding Co., Ltd.

7/F-1,
No. 633, Sec. 2, Taiwan Blvd.,

Xitun
District, Taichung City 407,

Taiwan
(R.O.C.)

Attention:
Jing-Bin Chiang

Email:
choco.chen@ymaunivers.com

 

with
a copy (which shall not constitute notice) to:

 

Loeb
& Loeb LLP

2206-19
Jardine House

1
Connaught Place,

Central,
Hong Kong SAR

Attention:
Lawrence S. Venick, Esq.

Email:
lvenick@loeb.com

 

    	 

     

    

 

9.
Miscellaneous.

 

9.1
Amendments. The Company and the Holder may from time to time supplement, modify or amend this Representative’s Warrant by
a written agreement signed by the Company and the Holder. All modifications or amendments shall require the written consent of and be
signed by the party against whom enforcement of the modification or amendment is sought.

 

9.2
Headings. The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or
affect the meaning or interpretation of any of the terms or provisions of this Representative’s Warrant.

 

9.3
Entire Agreement. This Representative’s Warrant (together with the other agreements and documents being delivered pursuant
to or in connection with this Representative’s Warrant) constitutes the entire agreement of the parties hereto with respect to
the subject matter hereof, and supersedes all prior agreements and understandings of the parties, oral and written, with respect to the
subject matter hereof.

 

9.4
Binding Effect. This Representative’s Warrant shall inure solely to the benefit of and shall be binding upon, the Holder
and the Company and their permitted assignees, respective successors, legal representative and assigns, and no other person shall have
or be construed to have any legal or equitable right, remedy or claim under or in respect of or by virtue of this Representative’s
Warrant or any provisions herein contained.

 

9.5
Governing Law; Submission to Jurisdiction; Trial by Jury. This Representative’s Warrant shall be governed by and construed
and enforced in accordance with the internal laws of the State of Florida, without giving effect to conflict of laws principles thereof.
The Company hereby agrees that any action, proceeding or claim against it arising out of, or relating in any way to this Representative’s
Warrant shall be brought and enforced in the U.S. federal and state courts in the Seventeenth Judicial Circuit Court in and for Palm
Beach County, Florida or the United States District Court for the Southern District of Florida, Fort Lauderdale Division, and irrevocably
submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction
and that such courts represent an inconvenient forum. Any process or summons to be served upon the Company may be served by transmitting
a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in
Section 8.4 hereof. Such mailing shall be deemed personal service and shall be legal and binding upon the Company in any action,
proceeding or claim. The Company and the Holder agree that the prevailing party(ies) in any such action shall be entitled to recover
from the other party(ies) all of its reasonable attorneys’ fees and expenses relating to such action or proceeding and/or incurred
in connection with the preparation therefor. The Company (on its behalf and, to the extent permitted by applicable law, on behalf of
its stockholders and affiliates) and the Holder hereby irrevocably waive, to the fullest extent permitted by applicable law, any and
all right to trial by jury in any legal proceeding arising out of or relating to this Representative’s Warrant or the transactions
contemplated hereby.

 

9.6
Waiver, etc. The failure of the Company or the Holder to at any time enforce any of the provisions of this Representative’s
Warrant shall not be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Representative’s
Warrant or any provision hereof or the right of the Company or any Holder to thereafter enforce each and every provision of this Representative’s
Warrant. No waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this Representative’s Warrant shall
be effective unless set forth in a written instrument executed by the party or parties against whom or which enforcement of such waiver
is sought; and no waiver of any such breach, non-compliance or non-fulfillment shall be construed or deemed to be a waiver of any other
or subsequent breach, non-compliance or non-fulfillment.

 

    	 

     

    

 

9.7
Successors and Assigns. Subject to applicable securities laws, this Representative’s Warrant and the rights and obligations
evidenced hereby shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors
and permitted assigns of Holder. The provisions of this Representative’s Warrant are intended to be for the benefit of any Holder
from time to time of this Representative’s Warrant and shall be enforceable by the Holder or holder of this Representative’s
Warrant.

 

9.8
Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Representative’s Warrant or any stock certificate relating
to the Shares, if stock certificates are issued, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory
to it (which, in the case of the Representative’s Warrant, shall not include the posting of any bond), and upon surrender and cancellation
of such Representative’s Warrant or stock certificate, if stock certificates are issued, if mutilated, the Company will make and
deliver a new Representative’s Warrant or stock certificate, if stock certificates are issued, of like tenor and dated as of such
cancellation, in lieu of such Representative’s Warrant or stock certificate, if stock certificates are issued.

 

9.9
Remedies. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will
be entitled to specific performance of its rights under this Representative’s Warrant. The Company agrees that monetary damages
would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Representative’s
Warrant and hereby agrees to waive and not to assert the defense in any action for specific performance or other equitable remedy that
a remedy at law would be adequate.

 

9.10
Severability. Wherever possible, each provision of this Representative’s Warrant shall be interpreted in such manner as
to be effective and valid under applicable law, but if any provision of this Representative’s Warrant shall be prohibited by or
invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating
the remainder of such provision or the remaining provisions of this Representative’s Warrant.

 

9.11
Execution in Counterparts. This Representative’s Warrant may be executed in one or more counterparts, and by the different
parties hereto in separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute
one and the same agreement, and shall become effective when one or more counterparts has been signed by each of the parties hereto and
delivered to each of the other parties hereto. Such counterparts may be delivered by facsimile transmission or other electronic transmission.

 

[Signature
Page Follows]

 

    	 

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Representative’s Warrant to be signed by its duly authorized officer as of the _______
day of ___________.

 

	J-STAR
    HOLDING CO., LTD.	 
	 	 	 
	By:	 	 
	Name:	            	 
	Title:	 	 

 

Acknowledged
and Agreed

 

	VIEWTRADE
    SECURITIES, INC.	 
	 	 	 
	By:	                  	   
	Name:	 	 
	Title:	 	 

 

    	 

     

    

 

Form
of Exercise

 

The
undersigned holder hereby exercises the right to purchase _________________ shares (“Warrant Shares”) of J-STAR
HOLDING CO., LTD. (the “Company”), evidenced by the attached Representative’s Warrant (the “Representative’s
Warrant”). Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Representative’s
Warrant. Please issue the Warrant Shares as to which the Representative’s Warrant is exercised in accordance with the instructions
given below and, if applicable, a new Representative’s Warrant representing the number of Warrant Shares for which the Representative’s
Warrant has not been exercised.

 

1.
Form of Exercise Price. The Holder intends that payment of the Exercise Price shall be made as:

 

____________
a “Cash Exercise” with respect to _________________ Warrant Shares; and/or

 

____________
a “Cashless Exercise” with respect to _______________ Warrant Shares.

 

2.
Payment of Exercise Price. In the event that the holder has elected a Cash Exercise with respect to some or all of the Warrant
Shares to be issued pursuant hereto, the holder shall pay the aggregate Exercise Price in the sum of $________ to the Company in accordance
with the terms of the Representative’s Warrant.

 

3.
Delivery of Warrant Shares. The Company shall deliver to the holder __________ Warrant Shares in accordance with the terms of
the Representative’s Warrant. Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified
below:

 

_______________________________

 

The
Warrant Shares shall be delivered to the following DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

Date:
_______________ __, ______

 

	Name
    of Registered Holder	 
	 	 	 
	By:	 	 
	Name:	          	 
	Title:	 	 

 

    	 

     

    

 

INSTRUCTIONS
FOR REGISTRATION OF SECURITIES

 

	Name:	 	 
	 	(Print
    in Block Letters)	 
	 	 	 
	Address:
    	 	 
	 	 	 
	 	 	 
	 	 	 

 

NOTICE:
The signature to this form must correspond with the name as written upon the face of the Representative’s Warrant without alteration
or enlargement or any change whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm
having membership on a registered national securities exchange.

 

    	 

     

    

 

FORM
OF ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned registered owner of this Representative’s Warrant to which this form is attached, hereby sells,
assigns and transfers unto the Assignee named below all of the rights of the undersigned to purchase ordinary shares, par value $0.36
per share, of J-STAR HOLDING CO., LTD. (the “Company”), evidenced
by this Representative’s Warrant, with respect to the number of ordinary shares set forth below.

 

	Name
    of Assignee	 	Address
    and Phone Number	 	No.
    of Shares
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

The
undersigned also represents that, by assignment hereof, the Assignee acknowledges that this Representative’s Warrant and the ordinary
shares to be issued upon exercise hereof or conversion thereof are being acquired for investment and that the Assignee will not offer,
sell or otherwise dispose of this Representative’s Warrant or any ordinary shares to be issued upon exercise hereof or conversion
thereof except under circumstances which will not result in a violation of the Securities Act of 1933, as amended, or any state securities
laws. Further, the Assignee has acknowledged that upon exercise of this Representative’s Warrant, the Assignee shall, if requested
by the Company, confirm in writing, in a form satisfactory to the Company, that the ordinary shares so purchased are being acquired for
investment and not with a view toward distribution or resale.

 

	 
	Signature
    of Holder
	 
	Date

 

The
undersigned assignee agrees to be bound by all of the terms and conditions of this Representative’s Warrant.

 

	 
	Signature
    of Assignee
	 
	DateExhibit 10.1

 

Cycles
Services Loire

Joint
stock company

With
a capital of 100,000 euros

Headquarters:
Avenue de l’Industrie,

42160
ST CYPRIEN

 

STATUS

 

    	 

    	 

    

 

The
undersigned:

 

Mr.
Frédéric SALLET

 

Born
March 19, 1975 in L’ARBRESLE (69)

French
nationality

Residing
Route Nationale 6 69380 LISSIEU

Married
under the regime of the community reduced to acquests with Madame Raphaëlle VILLIE born June 14, 1976 in MONTPELLIER (34), in the
absence of a marriage contract prior to their union celebrated on June 9, 2001 in ECULLY (69),

 

Mr.
Christophe QUINIOU

 

Born
May 13, 1972 in PARIS XIVth (75)

French
nationality

Residing
at 84, rue Boileau 69330 MEYZIEU

Married
under the regime of separation of property with Mrs. Pauline VERDIER-DAVIOUD born September 17, 1972 in FONTAINEBLEAU (77), under a marriage
contract dated February 3, 1997 received by Maître VINATIER, notary in PARIS (75 ), established prior to their union celebrated
on February 22, 1997 in BAZOCHES-SUR-GUYONNE (78),

 

The
company LE GALLION, a liability company with capital of 495,000 euros, whose registered office is located at La Fessy 38070 SAINT
QUENTIN FALLAVIER, registered in the trade and companies register of VIENNE under number 402 521 041,

Represented
herein by its manager, Mr. Bruno LE GALL,

 

STAR
LEADER TRADING LIMITED, a company incorporated under Hong Kong law with a capital of 1,578,284 USD, whose registered office is at
15 / F., BOC Group Life Assurance Tower, 136 Des Voeux Road Central, Central, HONG KONG, registered in the register HONG KONG trade under
number 2383420,

Represented
herein by its director, Mr. Jonathan CHIANG,

 

The
company 6ème SENS IMMOBILIER - INVESTISSEMENT, a simplified joint stock company with a capital of 4,000,000 euros, whose head
office is located at 30, quai Claude Bernard 69007 LYON, registered in the LYON trade and companies register under number 484 963 699
,

Represented
herein by its president, Mr. Nicolas GAGNEUX,

 

Have
thus established that it follows the statutes of a simplified joint stock company (SAS) that must exist between them.

 

    	 

    	 

    

 

ARTICLE
1 – FORM

 

Between
the owners of the shares created below and of all those which would be created subsequently, there is a simplified joint stock company
governed by the laws and regulations in force, and by these articles of association.

 

It
operates in the same form with one or more partners.

 

It
cannot make a public offer of its securities but can nevertheless make offers reserved for qualified investors or a restricted circle
of investors.

 

ARTICLE
2 – PURPOSE

 

The
purpose of the Company is, in France and abroad:

 

The
assembly, assembly and trading of cycles, cycle accessories and all leisure products,

 

All
industrial and commercial operations relating to:

 

-
The creation, acquisition, rental, hire-management of all business assets, leasing, installation, operation of all establishments, business
assets, factories, workshops, relating to any of the activities specified above;

-
The taking, the acquisition, the exploitation or the transfer of all processes, patents and intellectual property rights concerning these
activities;

-
The direct or indirect participation of the Company in all financial, securities or real estate transactions or commercial or industrial
enterprises that may be related to the corporate purpose or to any similar or related purpose;

-
Any operations whatsoever contributing to the achievement of this object.

 

ARTICLE
3 – NAME

 

The
company name is: Cycles Services Loire.

 

In
all acts and documents emanating from the Company and intended for third parties, the name will be immediately preceded or followed by
the words clearly written “Simplified Joint Stock Company” or the initials “SAS” and the statement of the amount
of the share capital.

 

In
addition, the Company must indicate at the top of its invoices, order notes, prices and advertising documents, as well as on all correspondence
and receipts concerning its activity and signed by it or on its behalf, the seat of the court at whose registry it is located.

 

Registered
in the Trade and Companies Register, and the registration number it received

 

    	 

    	 

    

 

ARTICLE
4 - REGISTERED OFFICE

 

The
registered office is: Avenue de l’Industrie 42160 ST CYPRIEN.

 

It
can be transferred to any place by decision of the group of partners or by decision of the Chairman who is empowered to modify the articles
of association accordingly. However, the President’s decision must be ratified by the next collective decision of the partners.

 

ARTICLE
5 – DURATION

 

The
duration of the Company is set at ninety-nine years from the date of its registration in the Trade and Companies Register, except in
cases of early dissolution or extension.

 

ARTICLE
6 – CONTRIBUTIONS

 

The
undersigned bring to the Company:

 

Cash
contributions

 

A
cash sum of one hundred thousand euros (100,000.00 euros), corresponding to 10,000 shares for cash, with a nominal value of ten euros
(10 euros) each, subscribed in full and fully paid, as follows of the certificate issued on 22 April 2021 by the bankCredit Agricole
Centre-Est, Place de L’Eglise 69380 CHAZAY D’AZERGUES, depositary of the funds, to which the list of partners having subscribed
with the indication, for each of them, of the sums paid has remained attached.

 

The
total sum paid by the partners, i.e. 100,000.00 euros, was regularly deposited in an account opened in the name of the Company in formation,
at said bank.

 

ARTICLE
7 - SHARE CAPITAL

 

The
share capital is set at the sum of one hundred thousand euros (100,000 euros).

 

All
actions are of the same category.

 

    	 

    	 

    

 

ARTICLE
8 - CHANGES IN THE SHARE CAPITAL

 

I
- The share capital may be increased by any means and according to any terms provided for by law.

 

The
share capital is increased either by issuing ordinary shares or preference shares, or by increasing the nominal amount of existing capital
securities. It may also be increased by the exercise of rights attached to securities giving access to the capital, under the conditions
provided for by law.

 

The
group of partners alone is competent to decide, based on the Chairman’s report, on an immediate or future capital increase. It
may delegate this power to the Chairman under the conditions set out in Article L. 225-129-2 of the French Commercial Code.

 

When
the group of partners decides on the capital increase, it can delegate to the Chairman the power to set the terms and conditions for
the issue of securities.

 

The
issues of securities giving access to the capital or giving the right to the allocation of debt securities governed by Article L. 228-91
of the Commercial Code are authorized by the group of partners deciding by a two-thirds majority of the votes. Partners present or represented,
on the report of the Chairman and special report of the Statutory Auditor, if any, in accordance with Articles L. 225-129 to L. 225-129-6
of the French Commercial Code.

 

In
the event of an increase through the issue of cash shares or the issue of securities giving access to the capital or giving the right
to the allocation of debt securities, a preferential right to the subscription of these shares is reserved, under the legal conditions,
to the owners of existing shares.

 

However,
in accordance with paragraph 5 of article L. 228-11 of the French Commercial Code, preference shares to which a limited right of participation
in dividends, reserves or sharing of assets in the event of liquidation is attached are private. Preferential subscription rights for
any capital increase in cash.

 

The
partners can individually waive their preferential right and the group of partners which decides on the capital increase can decide,
under the conditions provided for by law, to cancel this preferential subscription right.

 

If
the group of partners or, in the event of delegation of the Chairman, expressly decides, the capital securities not subscribed on an
irreducible basis are allocated to the shareholders who have subscribed a number of securities greater than that to which they could
subscribe on a preferential basis, proportionally. To the subscription rights they have and, in any event, within the limit of their
requests.

 

    	 

    	 

    

 

If
the capital increase is carried out by incorporating reserves, profits or issue premiums, the group of shareholders deliberates under
the conditions of quorum and majority provided for in ordinary decisions.

 

The
right to the allotment of new shares, following the incorporation into the capital of reserves, profits or issue premiums belongs to
the bare owner, subject to the rights of the usufructuary.

 

II
- The capital reduction is authorized or decided by the group of shareholders deliberating under the conditions provided for extraordinary
decisions and may in no case affect the equality of the shareholders. The partners can delegate all powers to the Chairman to carry it
out.

 

III
- The group of partners deliberating under the conditions provided for extraordinary decisions may also decide to amortize all or
part of the share capital and replace the capital shares with partially or fully amortized dividends, all in accordance with Articles
L. 225-198 et seq. Of the French Commercial Code.

 

IV
- The decision of a General Meeting of shareholders to modify the rights attached to a category of preference shares will only be
taken after approval by the shareholders of said category constituted in a Special Meeting and ruling under the conditions and according
to the modalities Extraordinary General Meetings.

 

ARTICLE
9 - PAYMENT OF SHARES

 

When
the Company is incorporated, the cash shares are paid up for at least half of their nominal value upon subscription.

During
a capital increase, the cash shares are paid up, upon subscription, of at least a quarter of their nominal value and, where applicable,
of the entire share premium.

 

The
release of the surplus must occur on one or more occasions upon appeal by the President, within five years of registration in the Trade
and Companies Register with regard to the initial capital, and within five years from the day on which the transaction becomes final
in the event of a capital increase.

 

Calls
for funds are brought to the attention of the subscriber (s) at least fifteen days before the date set for each payment, by registered
letter with acknowledgment of receipt, addressed to each partner.

 

Any
delay in the payment of the sums due on the unpaid amount of the shares automatically entails interest at the legal rate from the due
date, without prejudice to the personal action that the Company may exercise against the defaulting partner and enforcement measures
provided for by law.

 

    	 

    	 

    

 

In
accordance with the provisions of article 1843-3 of the Civil Code, when the calls for funds have not been made within a legal time limit
to achieve the full release of the capital, any interested party may request the President of the court ruling in summary proceedings
either to order under penalty the directors to proceed with these calls for funds, or to appoint an agent responsible for carrying out
this formality.

 

ARTICLE
10 - FORM OF SHARES

 

The
shares must be registered. They give rise to registration in an individual account under the conditions and according to the methods
provided for by the law and regulations in force.

 

Any
partner may ask the Company to issue an account registration certificate.

 

ARTICLE
11 - TRANSMISSION OF SHARES

 

The
shares are not negotiable until the Company has been registered in the Trade and Companies Register. In the event of a capital increase,
the shares are negotiable as of the completion thereof.

 

The
shares remain negotiable after the dissolution of the Company and until the close of the liquidation.

 

Ownership
of the shares results from their registration in an individual account in the name of the holder (s) in the registers kept for this purpose
at the registered office.

 

In
the event of transmission of the shares, the transfer of ownership results from the registration of the securities in the buyer’s
account on the date fixed by the agreement of the parties and notified to the Company.

 

Shares
resulting from contributions to industry are allocated on a personal basis. They are inalienable and non-transferable.

 

They
will be canceled in the event of the death of their holder as well as in the event of termination by the said holder of his services
at the end of a period of three months following formal notice, by registered letter with acknowledgment of receipt, to continue said
services under the conditions provided for in the contribution agreement.

 

    	 

    	 

    

 

ARTICLE
12 - APPROVAL

 

The
sale of equity securities and securities giving access to the capital to a third party or for the benefit of a partner is subject to
the prior approval of the group of partners.

 

The
transferor must notify the Chairman of the Company by registered letter with acknowledgment of receipt, indicating the name, first names
and address of the transferee, the number of equity securities or securities giving access to the capital of which the assignment is
considered and the price offered. This request for approval is sent by the Chairman to the partners.

 

The
approval results from a collective decision of the partners deciding by a two-thirds majority of the votes of the partners present or
represented.

 

The
decision of approval or refusal of approval does not have to be motivated. It is notified to the transferor by registered letter. In
the absence of notification within three months of the request for approval, the approval is deemed to have been acquired.

 

In
the event of authorization, the assigning partner may freely carry out the transfer under the conditions provided for in the request
for authorization.

 

In
the event of refusal of authorization, the Company is required, within three months of notification of the refusal, to procure the capital
securities or securities giving access to the capital, either by a partner or by a third party or, with the consent of the transferor,
by the Company, with a view to reducing the capital.

 

In
the absence of agreement between the parties, the price of the equity securities or securities giving access to the capital is determined
by means of an appraisal, under the conditions provided for in article 1843-4 of the Civil Code.

 

If
the methods for determining the price of equity securities or securities giving access to the capital are provided for in an agreement
binding the parties to the sale or redemption, the appointed expert will be required to apply them in accordance with the provisions
of the second paragraph of I of article 1843-4 of the Civil Code.

 

The
transferor may at any time notify the Chairman, by registered letter with acknowledgment of receipt, that he renounces the transfer of
his equity securities or securities giving access to the capital.

 

If,
at the end of the three-month period, the purchase is not made, the approval is considered given. However, this period may be extended
by interim order of the President of the Commercial Court, without recourse, the assigning partner and the assignee duly called.

 

    	 

    	 

    

 

The
foregoing provisions are applicable to all transfers, whether said transfers occur in the event of inheritance devolution or liquidation
of a community of property between spouses, by way of contribution, merger, or partition following the liquidation of a associated company,
universal transmission of a company’s assets or by public tender by virtue of a court decision or otherwise.

 

They
may also apply to the transfer of allotment rights in the event of a capital increase by incorporation of reserves, share premiums or
profits, as well as in the event of the transfer of subscription rights to a capital increase by through contributions in cash or individual
waiver of subscription rights in favor of named persons.

 

This
approval clause can only be removed or modified by collective decision of the partners deciding by a two-thirds majority of the votes
of the partners present or represented.

 

Any
assignment made in violation of this approval clause is void.

 

ARTICLE
13 - RENTAL OF SHARES

 

Rental
of shares is prohibited.

 

ARTICLE
14 - RIGHTS AND OBLIGATIONS ATTACHED TO THE SHARES

 

Any
share gives the right, in the profits and the corporate assets, to a net share proportional to the proportion of capital that it represents.

 

Unless
otherwise provided in the contribution deed, the rights attached to shares resulting from industrial contributions are equal to those
of the partner who contributed the least.

 

Each
share also gives the right to vote and to representation in collective consultations or general meetings, as well as the right to be
informed about the progress of the Company and to obtain communication of certain social documents at the times and under the conditions
provided for by law and the statutes.

 

The
partners only bear losses up to the amount of their contributions.

 

Subject
to legal and statutory provisions, no majority can impose an increase in their commitments. The rights and obligations attached to the
share follow the share regardless of the holder.

 

    	 

    	 

    

 

Ownership
of a share automatically entails adherence to the Company’s articles of association and to the decisions of the group of partners.

 

Creditors,
assigns or other representatives of a partner may not, under any pretext whatsoever, request the affixing of seals to corporate assets
and values, nor ask for them to be shared or auctioned off; they must refer to the social inventories and to the decisions of the group
of associates.

 

Whenever
it will be necessary to own several shares in order to exercise any right, in the event of an exchange, consolidation or allocation of
shares or as a consequence of an increase or reduction in capital, merger or other corporate operation, the shareholders owning individual
securities, or in a number less than that required, can only exercise these rights on the condition that they make the grouping their
personal business, and possibly the purchase or sale of the number of shares or rights required.

 

ARTICLE
15 - INDIVISIBILITY OF SHARES

 

The
shares are indivisible with regard to the Company.

 

Partners
who own undivided shares are required to be represented to the Company by one of them, considered to be the sole owner, or by a single
representative; in the event of disagreement, the sole representative may be appointed at the request of the most diligent joint owner.

 

The
designation of the representative of the joint ownership must be notified to the Company within one month of the occurrence of the joint
ownership. Any change in the person of the joint owner’s representative will not have any effect, vis-à-vis the Company,
until the expiration of a period of one month from its notification to the Company, justifying the regularity of the modification.

 

If
a share is encumbered with a usufruct, the bare owner and the usufructuary have the right to participate in collective decisions, regardless
of the holder of the voting rights. They must be called to all meetings and have the same right to information.

 

The
right to vote belongs to the bare owner, except for decisions concerning the allocation of profits, where it is reserved for the usufructuary.

 

However,
for other decisions, the bare owner and the usufructuary may agree that the voting right will be exercised by the usufructuary. The agreement
is notified by registered letter to the Company, which will be required to apply this agreement for any consultation after the expiration
of a period of one month following the sending of this letter.

 

    	 

    	 

    

 

ARTICLE
16 - PRESIDENT OF THE COMPANY

 

The
company is represented, managed and administered by a Chairman, natural or legal person, partner or not of the Company.

 

Designation

 

The
first President of the Company will be appointed under the terms of these statutes. The Chairman is then appointed by collective decision
of the partners taken by an absolute majority of the votes of the partners present or represented.

 

The
Chairman legal entity is represented by its legal representative unless, at the time of its appointment or at any time during its mandate,
it designates a person specially authorized to represent it as a representative.

 

When
a legal person is appointed Chairman, its officers are subject to the same conditions and obligations and incur the same civil and criminal
responsibilities as if they were Chairman in their own name, without prejudice to the joint and several liability of the legal person
they lead.

 

The
mandate of the President is renewable without limitation.

 

The
Chairman, a natural person, or the representative of the Chairman legal entity, may also be bound to the Company by an employment contract
provided that this contract corresponds to actual employment.

 

Term
of office

 

The
term of office of the President is fixed in the decision appointing him.

 

The
functions of President end either by death, resignation, dismissal, expiration of his mandate, or by the opening against him of a judicial
reorganization or liquidation procedure.

 

The
Chairman may resign from his mandate subject to respecting a three-month notice period which may be reduced during the consultation of
the group of partners who will have to decide on the replacement of the resigning Chairman.

 

The
Chairman’s resignation is only admissible if it is sent to each of the partners by registered letter.

 

    	 

    	 

    

 

Revocation

 

The
Chairman may be dismissed for just cause, by decision of the group of shareholders taken on the initiative of one or more shareholders
bringing together at least 50% of the capital and voting rights of the Company and acting by an absolute majority of the shareholders
voice of partners present or represented. Any dismissal occurring without a just cause being established will entitle the Chairman to
compensation.

 

In
addition, the President is automatically dismissed, without compensation, in the following cases:

 

-
Prohibition to direct, manage, administer or control a company or legal person, incapacity or personal bankruptcy of the Chairman, natural
person,

-
Receivership or judicial liquidation, ban on management or dissolution of the Chairman as a legal person,

-
Exclusion of the Associate Chairman.

 

Remuneration

 

The
Chairman may receive compensation for his duties, which will be set and modified by decision of the group of partners. It may be fixed
or proportional or both fixed and proportional to profit or turnover. In addition to this remuneration, he will be reimbursed, on supporting
documents, for the costs he incurs in the performance of his duties.

 

Powers
of the President

 

The
Chairman manages the Company and represents it vis-à-vis third parties. As such, he is vested with the broadest powers to act
in all circumstances on behalf of the Company within the limits of the corporate purpose and the powers expressly devolved by law and
the articles of association to the group of partners.

 

The
provisions of these statutes limiting the powers of the Chairman are unenforceable against third parties.

 

The
Company is committed even by acts of the Chairman that do not fall within the corporate purpose, unless it proves that the third party
knew that the act went beyond this purpose or that he could not ignore it given the circumstances, publication of the articles of association
alone is not sufficient to constitute this proof.

 

The
Chairman may delegate to any person of his choice certain of his powers for the exercise of specific functions or the accomplishment
of certain acts.

 

    	 

    	 

    

 

ARTICLE
17 - MANAGING DIRECTOR

 

Designation

 

The
Chairman may mandate a natural person or a legal person to assist him in his capacity as Chief Executive Officer.

 

The
Chief Executive Officer legal person is represented by its legal representative unless, at the time of its appointment or at any time
during its mandate, it designates a person specially authorized to represent it as a representative.

 

When
a legal person is appointed Chief Executive Officer, its officers are subject to the same conditions and obligations and incur the same
civil and criminal responsibilities as if they were Chief Executive Officer in their own name, without prejudice to the joint and several
liability of the legal person. “They lead”.

 

The
Managing Director who is a natural person may be bound to the Company by an employment contract.

 

Term
of office

 

The
term of office of the Chief Executive Officer is set in the appointment decision and may not exceed that of the Chairman’s term
of office.

 

However,
in the event of the termination of the Chairman’s duties, the Chief Executive Officer retains his duties until the appointment
of the new Chairman, unless the partners decide otherwise.

 

The
functions of Chief Executive Officer end either by death, resignation, dismissal, expiration of his mandate, or by the opening against
him of a judicial reorganization or liquidation procedure.

 

The
Chief Executive Officer may resign from his mandate by registered letter addressed to the Chairman, subject to a three-month notice period,
which may be reduced when the Chairman decides to appoint a new Chief Executive Officer to replace the resigning Chief Executive Officer.

 

Revocation

 

The
Chief Executive Officer can be dismissed at any time, without the need for just cause, by decision of the Chairman. This revocation does
not give rise to the right to any compensation.

 

In
addition, the Chief Executive Officer is automatically dismissed, without compensation, in the following cases:

 

-
Prohibition from directing, managing, administering or controlling a company or legal person, incapacity or personal bankruptcy of the
CEO, natural person,

 

    	 

    	 

    

 

-
Receivership or judicial liquidation, ban on management or dissolution of the Chief Executive Officer, legal person,

-
Exclusion of the Associate Chief Executive Officer.

 

Remuneration

 

The
Chief Executive Officer may receive compensation, the terms of which are set and modified by decision of the Chairman. It can be fixed
or proportional or both fixed and proportional to profit or turnover.

 

In
addition, the Chief Executive Officer is reimbursed for his representation and travel expenses upon supporting documentation.

 

Powers
of the Chief Executive Officer

 

The
Chief Executive Officer has the same powers as the Chairman, subject to any limitations set by the appointment decision or by a subsequent
decision.

 

The
Chief Executive Officer has the power to represent the Company with regard to third parties.

 

ARTICLE
18 - AGREEMENTS BETWEEN THE COMPANY AND ITS OFFICERS OR PARTNERS

 

Pursuant
to the provisions of Article L. 227-10 of the French Commercial Code, the Chairman or the Statutory Auditor, if there is one, presents
the shareholders with a report on the agreements entered into directly or through an intermediary between the Company and its Chairman,
one of its directors, one of its partners with a fraction of the voting rights greater than ten percent or, in the case of an associated
company, the Company controlling it at the meaning of Article L. 233-3 of said code.

 

The
partners rule on this report during the collective decision ruling on the accounts for the past financial year.

 

The
foregoing provisions are not applicable to agreements relating to the Company’s current operations and concluded under normal conditions.

 

Non-approved
agreements nevertheless produce their effects, with the responsibility for the person concerned and, possibly, for the Chairman and other
managers to bear the damaging consequences for the Company.

 

    	 

    	 

    

 

The
prohibitions provided for in Article L. 225-43 of the Commercial Code apply under the conditions determined by this article, to the Chairman
and to the other executives of the Company.

 

ARTICLE
19 - STATUTORY AUDITORS

 

The
Company’s legal control is carried out by one or more Statutory Auditors appointed by collective decision of the partners, in application
of Article L. 823-1 of the Commercial Code.

 

If
the Company exceeds the legally defined thresholds set by decree at the end of a financial year, this designation is mandatory. It is
also compulsory if one or more partners representing at least one third of the capital so request.

 

The
group of partners may, by an absolute majority of the votes of the partners present or represented, voluntarily appoint a Statutory Auditor
under the conditions provided for in Article L. 225-228 of the Commercial Code.

 

When
a Statutory Auditor thus appointed is a natural person or a one-person company, a substitute Statutory Auditor called upon to replace
the incumbent (s) in the event of refusal, impediment, resignation or death, is appointed at the same time as the holder for the same
duration.

 

In
addition, the appointment of an Auditor may be requested in court by one or more partners representing at least one tenth of the capital.

 

The
Statutory Auditors exercise their control mission, in accordance with the laws and regulations in force. Their permanent mission is in
particular to verify the values and accounting documents of the Company, to check the regularity and fairness of the company accounts
and to report them to the Company. They must in no case interfere in the management of the Company.

 

The
Statutory Auditors are invited to participate in any consultation of the group of partners, in accordance with legal and regulatory provisions.

 

ARTICLE
20 - SOCIAL REPRESENTATION

 

The
delegates of the social and economic committee, if there is one, exercise the rights provided for by article L. 2312-72 of the Labor
Code with the Chairman. To this end, it will bring them together at least once a quarter, and in particular when closing the annual accounts.

 

    	 

    	 

    

 

The
social and economic committee must be informed of collective decisions under the same conditions as the partners.

 

Requests
for registration of draft resolutions presented by the social and economic committee must be sent by any written means by a representative
of the committee to the Chairman and accompanied by the text of the draft resolutions which may be accompanied by a brief statement of
reasons.

 

They
must be received at the head office and at least one day before the date fixed for the decision of the partners. The Chairman acknowledges
receipt of these draft resolutions within three days of their receipt to the representative of the social and economic committee by registered
letter or electronically under the conditions defined in article R. 225-63 of the French Commercial Code.

 

ARTICLE
21 - COLLECTIVE DECISIONS

 

The
group of partners alone is competent to make the following decisions:

 

-
Approval of the annual accounts and allocation of results,

-
Approval of regulated agreements,

-
Appointment of the Statutory Auditors,

-
Increase, amortization and reduction of the share capital,

-
Transformation of the Company,

-
Merger, split or partial contribution of assets,

-
Dissolution and liquidation of the Company,

-
Increase in partners’ commitments,

-
Approval of share transfers,

-
Appointment, dismissal and remuneration of the Chairman,

-
Modification of the articles of association, except transfer of the registered office,

 

All
other decisions fall within the competence of the President.

 

ARTICLE
22 - FORM AND MODALITIES OF COLLECTIVE DECISIONS

 

Collective
decisions are taken, at the choice of the President at a general meeting or result from the consent of the partners expressed in an act
under private signature. They can also be the subject of a written consultation and be taken by any means of electronic telecommunication.

 

However,
decisions relating to the approval of the annual accounts and the allocation of results, changes in the share capital, mergers, demergers
or partial contributions of assets, excluding of an associate.

 

    	 

    	 

    

 

Any
partner has the right to participate in collective decisions, personally or by proxy, regardless of the number of shares he owns. He
must justify his identity and the registration of his actions on the day of the collective decision.

 

ARTICLE
23 - WRITTEN CONSULTATION

 

In
the event of a written consultation, the Chairman sends each partner, by registered letter, the text of the proposed resolutions as well
as the documents necessary to inform the partners.

 

The
partners have ten days from receipt of the draft resolutions to send their vote to the author of the consultation by registered letter.

 

Any
partner who does not respond within the above time limit is considered to have abstained.

 

ARTICLE
24 - GENERAL MEETING

 

General
Meetings are convened either by the Chairman or by an agent appointed by the President of the Commercial Court ruling in summary proceedings
at the request of one or more partners bringing together at least five percent of the capital or at the request of the social committee.
and economic in the event of an emergency, or by the External Auditor, if there is one.

 

During
the liquidation period, the Meeting is called by the liquidator.

 

The
convocation is made by all written communication procedures eight days before the date of the meeting and mentions the day, time, place
and agenda of the meeting.

 

However,
the General Assembly meets validly on verbal convocation and without delay if all the partners agree.

 

The
agenda is set by the author of the convocation.

 

One
or more shareholders representing at least 25% of the capital have the right to request the inclusion of draft resolutions on the agenda
of the Meeting by any means of written communication. These requests must be received at the head office came and at least one day before
the date of the meeting. The President acknowledges receipt of these requests within three days of receipt.

 

The
Assembly cannot deliberate on a question which is not on the agenda. It may however, in all circumstances, dismiss the Chairman, one
or more officers, and replace them.

 

    	 

    	 

    

 

The
partners can be represented at the deliberations of the General Meeting by another partner or by a third party justifying a mandate.
Each representative can have an unlimited number of mandates.

 

Mandates
can be given by any written communication process, and in particular by fax, electronic mail.

 

Any
partner may vote by correspondence, using a form drawn up by the Company and given to partners who so request. He must complete the ballot,
by ticking for each resolution, a single box corresponding to the meaning of his vote.

 

Failure
to respond within the time period indicated by the convocation constitutes total abstention by the partner.

 

In
the event of a remote vote using an electronic voting form or a proxy vote given by electronic signature, it is exercised under the conditions
provided for by the regulations in force, either in the form of a secure electronic signature within the meaning of Decree 2017-1416
of September 28, 2017, or in the form of a reliable identification process guaranteeing its link with the act to which it is attached.

 

At
each meeting, the chairman of the meeting may decide to mention the identity of each partner, the number of shares and the number of
voting rights he has, in the minutes or in an attendance sheet that he has will certify after having had it signed by the partners present
and the representatives.

 

The
meetings of the general assemblies take place at the registered office or in any other place indicated in the convocation.

 

The
Assembly is chaired by the President or, in his absence by a partner appointed by the Assembly.

 

The
Assembly appoints a secretary who may be taken from outside its members.

 

ARTICLE
25 - RULES FOR ADOPTING COLLECTIVE DECISIONS

 

The
voting right attached to the shares is proportional to the proportion of capital they represent. Each share gives the right to one vote.

 

Collective
decisions involving modification of the articles of association, with the exception of those for which unanimity is required by law,
will be taken by a two-thirds majority of the votes of the partners present or represented. The other decisions will be taken by an absolute
majority of the votes of the partners present or represented.

 

    	 

    	 

    

 

ARTICLE
26 - MINUTES OF COLLECTIVE DECISIONS

 

Collective
decisions taken in assembly are recorded in minutes signed by the President and the secretary and established in a special register,
or on numbered loose sheets.

 

The
minutes must indicate the place and date of the consultation, the documents and information communicated in advance to the partners,
a statement of the debates as well as the text of the resolutions and for each resolution the result of the vote.

 

In
the event of a collective decision resulting from the unanimous consent of the partners expressed in a deed, this deed must mention the
documents and information previously communicated to the partners. It is signed by all the partners and transcribed in the special register
or numbered pages.

 

Copies
or extracts of the minutes of collective decisions are validly certified by the President, or a proxy authorized for this purpose.

 

ARTICLE
27 - PARTNERS ‘RIGHT OF INFORMATION

 

Whatever
the method of consultation, any decision of the shareholders must be the subject of prior information including the agenda, the text
of the resolutions and all documents and information enabling them to make an informed decision on the or the resolutions submitted for
their approval.

 

The
reports drawn up by the Chairman must be communicated at the expense of the Company to the partners five days before the date of the
consultation, as well as the annual accounts and, where applicable, the consolidated accounts for the last financial year during the
collective decision ruling on these accounts.

 

The
partners can, at any time, consult at the registered office, and, if necessary take a copy, of the up-to-date articles of association
of the Company as well as, for the last three financial years, of the company registers, of the annual accounts, of the table of last
five financial years, consolidated accounts, reports and documents submitted to the partners on the occasion of collective decisions.

 

ARTICLE
28 - FINANCIAL YEAR

 

Each
financial year lasts for one year, which begins on January 1 and ends on December 31.

 

As
an exception, the first financial year will begin on the day the Company is registered in the Trade and Companies Register and will end
on December 31, 2022.

 

    	 

    	 

    

 

ARTICLE
29 - INVENTORY - ANNUAL ACCOUNTS

 

Regular
accounts are kept of corporate transactions, in accordance with the law and commercial practice.

 

At
the end of each financial year, the Chairman draws up an inventory of the various elements of the assets and liabilities existing at
that date and draws up the annual accounts including the balance sheet, the income statement and, if applicable, the appendix, in accordance
with the laws and regulations in force.

 

It
also draws up the balance sheet describing the assets and liabilities and showing separately the shareholders’ equity, the income
statement summarizing the income and expenses for the year, as well as, where applicable, the appendix supplementing and commenting on
the information given by the balance sheet and the income statement.

 

Even
in the event of absence or insufficiency of profit, the necessary depreciation and provisions are made. The amount of bonded, endorsed
or guaranteed commitments is mentioned after the balance sheet.

 

All
these documents are made available to the Company’s Statutory Auditors, if any, under legal and regulatory conditions.

 

Within
six months of the end of the financial year or, in the event of an extension, within the time limit set by court decision, the partners
must rule by collective decision on the annual accounts, in the light of the management report and the report of the or the Statutory
Auditors, if there are any. When the Company draws up consolidated accounts, these are presented, at the time of this collective decision,
with the group’s management report and the report of the Statutory Auditors.

 

ARTICLE
30 - ALLOCATION AND DISTRIBUTION OF THE RESULT

 

The
income statement which recapitulates the income and expenses for the financial year shows by difference, after deduction of depreciation
and provisions, the profit or loss for the closed financial year.

 

At
least five percent is deducted from the profit for the financial year less any previous losses to constitute the legal reserve fund.
This deduction ceases to be compulsory when the reserve fund reaches one tenth of the share capital; it resumes its course when, for
any reason, the legal reserve has fallen below this tenth.

 

Distributable
profit is made up of the profit for the financial year less previous losses and sums to be carried in reserve, in application of the
law and the articles of association, and increased by profit carried forward.

 

    	 

    	 

    

 

From
this profit, the group of partners may withdraw any sums that it deems advisable to allocate to the endowment of any optional, ordinary
or extraordinary reserve funds, or to carry forward again.

 

The
balance, if any, is distributed among all the partners in proportion to their rights in the capital.

 

In
addition, the group of partners may decide to distribute sums withdrawn from the available reserves, by expressly indicating the reserve
items from which the withdrawals are made. However, dividends are taken in priority from the profits for the year.

 

Except
in the case of a reduction in capital, no distribution can be made to the partners when the shareholders’ equity is or would become
as a result of this, lower than the amount of the capital increased by the reserves that the law or the articles of association do not
allow to be distributed. . The revaluation surplus is not distributable. It can be incorporated in whole or in part in the capital.

 

The
losses, if any, are after the approval of the accounts by the group of partners, carried forward again, to be charged against the profits
of subsequent years until extinction.

 

ARTICLE
31 - PAYMENT OF DIVIDENDS - DEPOSITS

 

The
terms of payment of cash dividends are set by collective decision of the shareholders or, failing that, by the Chairman.

 

However,
the payment of dividends in cash must take place within a maximum period of nine months after the end of the financial year, unless this
period is extended by court authorization.

 

When
a balance sheet drawn up during or at the end of the financial year and certified by an External Auditor shows that the Company, since
the end of the previous financial year, after constitution of the necessary depreciation and provisions and deduction made if any previous
losses as well as sums to be carried in reserve, in application of the law or the articles of association, has made a profit, it can
be distributed by decision of the Chairman of the interim dividends before the approval of the accounts of the exercise. The amount of
these down payments may not exceed the amount of profit thus defined.

 

No
repetition of dividends may be required from the partners except when the distribution was made in violation of legal provisions and
the Company establishes that the beneficiaries were aware of the irregular nature of this distribution at the time of it or could not
ignore it. given the circumstances. Where applicable, the action for recovery is barred three years after the payment of these dividends.

 

Dividends
not claimed within five years of their payment are time-barred.

 

    	 

    	 

    

 

ARTICLE
32 - EQUITY LESS THAN HALF OF THE SHARE CAPITAL

 

If,
due to losses noted in the accounting documents, the Company’s equity falls below half of the share capital, the Chairman must,
within four months following the approval of the accounts showing these losses, consult the collectivity of partners, in order to decide
whether there is any need for the early dissolution of the Company.

 

If
the dissolution is not pronounced, the capital must be, within the period fixed by the law, reduced by an amount equal to that of the
losses which could not be set off against the reserves if, within this period, the capital own have not become at least equal to half
of the share capital.

 

In
all cases, the collective decision of the partners must be published under the legal and regulatory conditions.

 

In
the event of non-observance of these prescriptions, any interested party may seek the dissolution of the Company in court. The same applies
if the group of partners has not been able to deliberate validly. However, the court cannot pronounce the dissolution if, on the day
when it rules on the merits, the regularization has taken place.

 

ARTICLE
33 - TRANSFORMATION OF THE COMPANY

 

The
Company can be transformed into a company of another form by collective decision of the partners under the conditions set by law.

 

The
transformation into a general partnership requires the agreement of all the partners. In this case, the conditions provided for above
are not payable.

 

The
transformation into a limited partnership or by shares is decided under the conditions provided for the modification of the articles
of association and with the agreement of each of the partners who agree to become general partners because of the joint and indefinite
liability of the social debts.

 

The
transformation into a limited liability company is decided under the conditions provided for the modification of the articles of association
of companies of this form.

 

Any
transformation which would lead either to an increase in the commitments of the partners or to the modification of the clauses of these
statutes requiring the unanimity of the partners must be the subject of a unanimous decision by the latter.

 

    	 

    	 

    

 

ARTICLE
34 - DISSOLUTION - LIQUIDATION

 

The
Company is dissolved in the cases provided for by law and, except for extension, at the expiration of the term fixed by the articles
of association, or following a collective decision of the partners taken under the conditions fixed by these articles of association.

 

One
or more liquidators are then appointed by this collective decision.

 

The
liquidator represents the Company. He is vested with the broadest powers to realize the asset, even amicably. He is empowered to pay
creditors and distribute the available balance among the partners.

 

The
group of partners may authorize it to continue the business in progress or to initiate new ones for the needs of the liquidation.

 

The
net proceeds from the liquidation, after reimbursement to each of the partners of the nominal and unamortized amount of their shares,
is distributed among the partners in proportion to their participation in the share capital.

 

Losses,
if any, are borne by the partners up to the amount of their contributions.

 

In
the event that all the shares are combined in one hand, the dissolution of the Company entails, when the sole shareholder is a legal
person, the universal transmission of the assets of the Company to the sole shareholder, in accordance with the provisions of the article
1844-5 of the Civil Code.

 

ARTICLE
35 - DISPUTES

 

All
disputes that may arise during the term of the Company or during its liquidation, either between the Company and the partners holding
its shares, or between the partners holding shares themselves, concerning social affairs, the interpretation or execution of these statutes
will be judged in accordance with the law and subject to the jurisdiction of the competent courts.

 

ARTICLE
36 - APPOINTMENT OF OFFICERS

 

Appointment
of the President

 

The
first Chairman of the Company appointed under the terms of these articles of association without time limit is:

 

Mr.
Frédéric SALLET

 

Born
in L ARBRESLE (69) on March 19, 1975

French
nationality

Resident
Route Nationale 6, 69380 LISSIEU

 

    	 

    	 

    

 

Mr.
Frédéric SALLET accepts the functions of Chairman and declares, as far as he is concerned, that he has not been affected
by any incompatibility or any prohibition liable to prevent his appointment and the exercise of his functions.

 

ARTICLE
37 - COMMITMENTS ON BEHALF OF THE COMPANY IN TRAINING

 

In
accordance with the law, the Company will only have legal personality from the day of its registration in the Trade and Companies Register.

 

The
statement of acts performed in the name of the Company in formation, with an indication for each of them of the resulting commitment
for the Company, is appended to these statutes.

 

This
report was made available to the partners within the legal time limits at the address of the registered office.

 

The
signing of these articles of association will take over these commitments by the Company, when the latter has been registered in the
Trade and Companies Register.

 

The
undersigned give a mandate to Mr. Frédéric SALLET for the purpose of carrying out the acts and making the necessary commitments
on behalf of the Company.

 

These
commitments will be taken over by the Company by the sole fact of its registration in the Trade and Companies Register.

 

The
acts performed on behalf of the Company during the training period and regularly taken up by the latter will be attached to the first
financial year.

 

ARTICLE
38 - ADVERTISING FORMALITIES - POWERS - FEES

 

All
powers are given to the bearer of an original or a certified true copy of these presents to carry out all the legal formalities relating
to the incorporation of the Company and in particular:

 

-
Sign and have the notice of incorporation published in a medium authorized to receive legal notices in the department of the head office;

 

-
Make all declarations to the competent Business Formalities Center;

 

-
Carry out all formalities for the registration of the Company in the Trade and Companies Register;

 

-
For this purpose, sign all deeds and documents, pay all rights and costs, and more generally do everything necessary to give the Company
currently constituted its legal existence by completing all other formalities prescribed by law.

 

All
powers are conferred on the bearer of an original or a certified true copy hereof for the purpose of carrying out all the publicity,
filing and other formalities to achieve the registration of the Company in the Register of commerce and corporations.

 

    	 

    	 

    

 

	 	 	Done
    at St CYPRIEN ON
	 	 	23
    April 2021
	 	 	In
    2 Original copies

 

	Frederic
    SALLET	 	Christophe
    QUINIOU
	“Good
    acceptance of the functions of President”	 	 
	 	 	 
	[signature
    of Frederic Sallet]	 	[signature
    of Christophe Quiniou]

 

	STAR
    LEADER TRADING LIMITED Company	 	Company
    LE GALLION
	Represented
    by Jonathan CHIANG	 	Represented
    by Bruno LE GALL
	 	 	 
	[signature
    of Jonathan Chiang]	 	[signature
    of Bruno Le Gall]

 

	Company 6 th REAL ESTATE SENSE – INVESTMENT	 	 
	Represented by Nicolas GAGNEUX	 	 
	 	 	 
	[signature of Nicolas Gagneux]	 	 

 

    	 

    	 

    

 

ANNEX

STATEMENT
OF ACTS COMPLETED

FOR
THE TRAINING SOCIETY

BEFORE
SIGNING THE ARTICLES OF ASSOCIATION

 

-
Signature of an engagement letter with the company IN EXTENSO AUVERGNE RHONE ALPES.

 

-
Opening of a bank account in the name and on behalf of the company with the bank Credit Agricole Centre-Est, Place de l’Eglise
69380 CHAZAY D’AZERGUES.

 

-
Signature of a commercial lease for the premises located at Avenue de l’Industrie 42160 ST CYPRIEN.

 

In
accordance with the provisions of article R. 210-6 of the French Commercial Code, this statement will be appended to the articles of
association, the signature of which will take over the commitments by the Company as soon as it has been registered in the Trade and
Companies Register.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}]]