Document:

FINAL
PURCHASING AGREEMENT

BETWEEN
PUERTO RICO INDUSTRIAL COMMERCIAL HOLDINGS BIOTECH 

CORPORATION AND PROJECT 1493, LLC.

 

I.
Parties

 

This
Final Purchasing Agreement (here on after the “Agreement”) is made and entered into by and between Healing Herbs
Corporation, as Party of the First Part, and Project 1493, LLC, as Party of the Second Part.

 

The
Party of the First Part official communication information is:

 

Ave.
Tnte. César González 508,

Hato
Rey, San Juan, PR. 00918

antonioiguina@gmail.com

 

The
Party of the Second Part official communication information is:

 

Condominio
Madrid, Ste. 304

Loíza
Street, #1760

San
Juan, P.R. 00911

office@cglawpr.com

 

II.
Definitions

 

In
the present Agreement, unless the context otherwise requires, the following words and expressions shall have the following meanings
when used herein:

 

Department
of Health = Refers to the Health Department of the Commonwealth of Puerto Rico, agency in charge of the regulations for the
Medicinal Cannabis industry in Puerto Rico.

 

Department
of State = Refers to the Department of State of the Commonwealth of Puerto Rico.

 

Dispensary
= A registered establishment that has a valid license or authorization by the Department of Health of Puerto Rico to stock
and dispense Medicinal Cannabis.

 

Material
Breach = The following situations will be considered a material breach:

 

	 	a)	Lack
    of proper pre-qualification license and permits according to Regulation 8766 of the Department of Health of Puerto Rico; 
	 	 	 
	 	b)	False
    representations regarding the party, the documents submitted or the property subject to the present Agreement; 
	 	 	 
	 	c)	Failure
    to provide the corresponding lease assignment for the property;
	 	 	 
	 	d)	Failure
    to comply with rectification of a material breach; and 
	 	 	 
	 	e)	Changes
    in the official communication information provided without proper notice.

 

Medicinal
Cannabis= Refers to all parts of the Cannabis Sativa L. and Cannabis Indica, any hybrid of said plants as well
as any compound, derivate, concentrate, mix or confections produced with said plants (i.e. oils, edibles, beverages, etc.) as
defined by Regulation No. 8766 of the Department of Health of Puerto Rico.

 

MOU
= Refers to the Memorandum of Understanding signed between the Parties on December, 2017. A Memorandum of Understanding is
a short form binding and enforceable agreement that stipulates the material terms and conditions that will ultimately become a
purchase agreement if all the representations made by the seller are duly verified and confirmed during the Exclusivity Period.

 

Party
of the First Part = Refers to Healing Herbs Corporation, who will be the seller of the Medicinal Cannabis dispensary subject
to this Agreement. This includes any officers, directors and any other member that currently holds an office within the Corporation.

 

Party
of the Second Part = Refers to Project 1493, LLC, a wholly owned subsidiary of Green Spirit Industries, Inc., who will be
the buyer of the Medicinal Cannabis dispensary subject to this Agreement. This includes any officers, directors and any other
member that currently holds an office within the Corporation.

 

 

    			 

    	 

    

 

 

Proposed
Acquisition = The proposed acquisition of Medicinal Cannabis dispensary by the Party of the Second Part from the Party of
the First Part as contemplated in this Agreement.

 

Regulation
No. 8766 = Regulation Number 8766 of the Department of Health of Puerto Rico: Regulation for the Use, Possession, Growth,
Manufacture, Fabrication, Dispensation, Distribution and Investigation of Medicinal Cannabis, approved on the 8th of July, 2016,
and its subsequent amendments.

 

III.
Purpose

 

The
purpose of this Agreement is to establish the terms and conditions for the sale and acquisition of one (1) Medical Cannabis dispensary
(described below) for the amount of one hundred and twenty-eight thousand dollar ($128,000 USD), as previously agreed in the MOU
signed on December 22, 2017.

 

IV.
Party Considerations and Representations

 

A.
Party of the First Part Considerations and Representations

 

The
Party of the First Part is a for-profit corporation established under the laws of Commonwealth of Puerto Rico, with its main offices
in San Juan, P.R., with Department of State registration number 383827, represented by its President and duly authorized representative,
Antonio Iguina González, Esq.

 

The
Party of the First Part represents that it is currently in Good Standing with the Puerto Rico Department of State and Department
of Treasury.

 

The
Party of the First Part represents that it is the legally rightful owner of all assets, leasing contracts, permits and other related
documents for the following proposed Medical Cannabis dispensary establishment, as pre-qualified by the Department of Health:

 

	 	1)	“Healing
    Herbs” dispensary, located on 508 c/ César González, San Juan, Puerto Rico, 00918. The following representations
    apply to this establishment:
	 	 	 
	 	a)	The
    dispensary was pre-qualified by the Puerto Rico Department of Health on October 24, 2016;
	 	 	 
	 	b)	The
    dispensary application number is 2016-10-0048;
	 	 	 
	 	c)	The
    property in question is owned by Norman Luis Santiago Gómez;
	 	 	 
	 	d)	A
    lease agreement was signed between the above-mentioned owner and the Party of the First Part on October 6, 2016. A copy of
    said lease agreement has been furnished to the Party of the Second Part;
	 	 	 
	 	e)	The
    Party of the First Part represents that to best of his knowledge, there are no impediments with the owner of the property
    for the signing of the corresponding Lease Assignment to the Party of the Second Part;
	 	 	 
	 	f)	The
    property has an approximate capacity of 1,150 square feet and it is located on a residential zone with the corresponding commercial
    permits;
	 	 	 
	 	g)	To
    the best of its knowledge there are no current proceedings or plans to change the zoning classification for the above named
    property; and
	 	 	 
	 	h)	The
    dispensary is in full compliance with all requirements set forth in Regulation No. 8766 of the Puerto Rico Department of Health
    for the proposed business. Pertinent statutes and regulations.

 

The
Party of the First Part wishes to sell all legal rights, permits, licenses and assets in its power pertaining to the aforementioned
dispensary for the total amount of $128,000 USD. Said amount was paid in full by way of wire transfer on December 22, 2017, and
held by the Party of the First Part, in good faith, until the signing of the present Agreement.

 

The
Party of the First Part represents that all of the assets, rights and licenses pertaining to the present Agreement have been acquired
legally in accordance with the laws and regulations of the Commonwealth of Puerto Rico.

 

 

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The
Party of the First Part represents that it has the capacity to transfer all pertinent documents, licenses and property of his
ownership so that the dispensary remains operational during the condensed due diligence period until the Final Purchasing Agreement
is executed.

 

The
Party of the First Part represents that, to the best of its knowledge, there is no existing, pending or projected administrative
or judicial process regarding the dispensary subject to this Agreement, including labor matters, other than those pertaining to
the corresponding license procedures at the health Department.

 

The
Party of the First Part represents that, to the best of its knowledge, there are no outstanding fines or any other obligations
that under the laws of Puerto Rico, can be transferred to the party of the Second Part, other than those that pertain to the completion
of the dispensary to be approved after the final inspection takes place.

 

The
Party of the First Part represents that said party conducted and exhausted all due diligence in regards to compliance with all
requirements set forth in Regulation No. 8766 of the Puerto Rico Department of Health for the proposed business, including zoning
regulations, location requirements, and that the build out was made in compliance with said Regulation and applicable laws.

 

B.
Party of the Second Part Considerations and Representations

 

The
Party of the Second Part is a for-profit Limited Liability Company established under the laws of Commonwealth of Puerto Rico,
with its main offices in San Juan, P.R., with Department of State registration number 3292, represented in this act by Alexis
Colón Asencio, authorized representative of Green Spirit Industries, Inc., who is the Sole Member of Project 1493, LLC.

 

The
Party of the Second Part represents its interest in purchasing the described Medicinal Cannabis dispensary from the Party of the
First Part for the amount established herein and exclusively relying on the representations that the other party has made in the
present Agreement.

 

The
Party of the Second Part represents that it is solvent and in a condition to comply with all financial commitments subject to
the present Agreement.

 

The
Party of the Second Part represents that said party conducted and exhausted all due diligence in regards to compliance with all
requirements set forth in Regulation No. 8766 of the Puerto Rico Department of Health for the proposed business, including zoning
regulations, location requirements, and that the build out was made in compliance with said Regulation and applicable laws.

 

V.
Transfer of Funds

 

The
parties represent that the Purchase Price was paid in full by way of wire transfer on December 22, 2017. Said amount was held,
in good faith, by the Party of the First Part until the signing of the present Agreement, upon which the transfer of assets and
the corresponding payment are to be considered complete.

 

VI.
Severability

 

Should
any portion of this Agreement be judicially declared to be null and void or unenforceable, the remainder of the Agreement shall
continue in full force and effect.

 

VII.
Integration Clause

 

This
Agreement constitutes the entire agreement and understanding between the parties and supersedes any and all prior agreements and
understandings, collateral agreements or understandings, oral or written, related to the subject matter herein. Any and all prior
agreements, collateral representations or understandings, oral or written, regarding the sale and acquisition subject to this
Agreement are deemed to be null and void for all legal purposes. The present Agreement may only be amended by written consent
of the Parties.

 

 

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VIII.
Indemnification Clause

 

The
Party of the First Part shall indemnify the Party of the Second Part for any and all causes of action, claims, suits, demands,
damages, obligations, losses, settlements, potential liabilities and costs that may arise by acts or omissions occurred prior
to the signing of this Agreement. This clause shall be interpreted as broad as legally possible and it extends to business partners,
associates, advisors and relatives of the members entity.

 

The
Party of the First Part will hold the Party of the Second Part harmless from and pay any loss, damage cost or expense (including,
without limitation, legal fees and court costs) which the Party of the Second Part incurs by reason of any representation or warranty
of the Party of the First Part being incorrect or by reason of any breach by the Party of the First Part of any of its covenants
or obligations under this Agreement.

 

In
the event that the Party of the First Part is compelled to indemnify the Party of the Second Part, the filing of bankruptcy will
not allow the Party of the First Part to discharge the indemnification provision of the present Agreement under any condition.
The Party of the First Part expressly waives any right that the bankruptcy code may furnish said party during a bankruptcy proceeding
pertaining to the present obligation.

 

IX.
Dispute Resolution/ Mediation and Arbitration Clause

 

Any
dispute or reclamation that may arise in regards to the present Agreement, or any other circumstance that requires the intervention
of an administrative or judicial forum, will be referred to mediation in the Commonwealth of Puerto Rico in accordance with the
Regulation for Alternative Methods of Dispute Resolution. The mediator to be chosen must have a minimum of 15 years of experience
in the private law practice.

 

If
the parties fail to resolve any conflict through the mediation process, the issue will be resolved through arbitration in the
Commonwealth of Puerto Rico and in accordance with the rules and regulations set forth by the American Arbitration Association.
These rules require that a panel of three arbitrators resolve any dispute submitted to their consideration. The arbitrators must
have a minimum of 15 years of experience in the private law practice. The decision of the majority of the arbitrators is a final
one for the parties. The arbitrators shall resolve any dispute, including matters related to discovery of evidence that may arise
during the arbitration process. The non-prevailing party will assume all of the costs of the proceedings, including all legal
and attorney fees, the arbitrator fees, filing costs and any other fee incidental to the proceedings. The arbitration panel’s
decision may be entered as a judicial sentence or court order in any court that has proper jurisdiction and venue. The Arbitrators
will be empowered to concede for punitive damages, and may grant attorney fees to the prevailing party.

 

X.
Confidentiality

 

Except
as provided herein, the existence and the terms of this Agreement shall be maintained in confidence by the parties hereto and
their respective officers, directors and employees. Except as compelled to be disclosed by judicial or administrative process
or by other requirements of law, legal process, rule or regulation, all public announcements, notices or other communications
regarding such matters to third parties, shall require the prior approval of all parties hereto. The Party of the First Part hereby
agrees not to divulge any corporate, proprietary or financial information in regards to Project 1493, LLC and/or Green Spirit
Industries, Inc., and/or any license, rights or property subject to this Agreement.

 

XI.
Copyright Clause

 

The
Party of the First Part hereby transfers any and all ideas, concepts, copyrighted materials and trademarks pertaining to the establishments
in question to the Party of the Second Part. All of the rights conceded through the present Agreement are for the sole exploitation
of the Party of the Second Part in all jurisdictions where it is legally permitted to dispense Medical Cannabis products.

 

 

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XII.
Governing Language

 

The
governing language of the present document will be English. If the need for a translation arises, the document will be translated
from English to Spanish.

 

XIII.
Closing

 

The
closing of the purchase and sale of the assets subject to this Agreement will take place at the time and place that the Parties
mutually agree.

 

At
closing, the Party of the First Part will provide the Party of the Second Part with duly executed forms and documents evidencing
transfer of assets, where required including, but not limited to, bills of sale, assignments, assurances, and consents.

 

XIV.
Signatures

 

IN
WITNESS WHEREOF, the parties to this Agreement through their duly authorized representatives have executed this Agreement
on the days and dates set out below, and certify that they have read, understood, and agreed to the terms and conditions of this
Agreement as set forth herein.

 

The
effective date of this Agreement is the date of the signature last affixed to this page. This Agreement does not require the simultaneous
signing of the parties for its validity.

 

The
Parties agree that the sale becomes absolutely final and irreversible upon the signing of the present Agreement. Once this process
is complete, the Parties cannot withdraw from the present Agreement for any reason whatsoever, except by express and written consent
from the other Party.

 

All
personal guarantees contained in the MOU signed by the Parties, other than those provided by law, are considered terminated upon
the signing of the present Agreement. No personal guarantees, other than those provided by law, are herein provided by any officers,
directors or any other member of the either Party.

 

For
the Party of the First Part:

 

 

	 	Antonio
Iguina González, Esq.	Date	 

President
and Authorized Representative

Healing
Herbs Corporation

 

For
the Party of the Second Part:

 

 

	 	Alexis Colón Asencio	Date	 

Authorized
Representative of Green Spirit Industries, Inc.,

Sole
Member of Project 1493, LLC.

 

 

    			5ASSIGNMENT
OF LEASE

 

THIS
ASSIGNMENT OF LEASE (“ASSIGNMENT”) is made by and between Healing Herbs Corporation, a domestic corporation
duly organized under the laws of the Commonwealth of Puerto Rico (“ASSIGNOR”); Project 1493, LLC, a Limited
Liability Corporation duly organized under the laws of the Commonwealth of Puerto Rico (“ASSIGNEE”), and Norman
Luis Santiago Gómez, owner of the property subject to this Assignment (“LANDLORD”).

 

FOR
VALUABLE CONSIDERATION, the parties herein agree to the following terms and conditions set forth below:

 

	 	1.	The
    Landlord and the Assignor have entered into a lease agreement, on October 6, 2016, regarding the premises described therein.
    A true and correct copy of the Lease is attached hereto and made a part hereof as “Exhibit A”.
	 	 	 
	 	2.	The
    Assignor hereby assigns and transfers to the Assignee all of Assignor’s rights and delegates all of Assignor’s
    duties under the Lease Agreement subscribed on October 6, 2016.
	 	 	 
	 	3.	Assignee
    hereby accepts this Assignment and assumes and agrees to fulfill all tenant obligations, terms and conditions of the Lease
    from this date forward for the remainder of the term thereof to the same extent as if it had been the original tenant under
    the Lease. The Assignee further agrees to indemnify and hold the Assignor harmless from any breach of Assignee’s duties
    hereunder.
	 	 	 
	 	4.	The
    Assignor agrees to transfer possession of the leased premises to the Assignee on the Effective Date. All rents and obligations
    of the Assignor under the Lease accruing before the Effective Date shall have been paid or discharged. The Landlord hereby
    assents to the assignment of the Lease hereunder and as of the Effective Date hereby releases and discharges the Assignor
    from all duties and obligations under the Lease accruing after the Effective Date. 
	 	 	 
	 	5.	This
    assignment of the Lease also includes the transfer of the security deposit referenced therein. Assignor hereby releases unto
    Assignee all of Assignor’s right, title and interest in the deposit. Landlord shall continue to hold the deposit as
    security for the faithful performance of the Lease.
	 	 	 
	 	6.	There
    shall be no further assignment of the Lease without the written consent of the Landlord.
	 	 	 
	 	7.	This
    agreement shall bind the parties, their legal representatives, successors and assigns. The Assignee assumes and undertakes
    all of the terms and conditions of the lease as his own obligation.
	 	 	 
	 	8.	This
    agreement contains the entire understanding of the parties. It may not be changed orally. This agreement may be amended or
    modified only by written consent of the parties.

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties set their signatures on the date expressed below.

 

	 	 	 
	Antonio Iguina
    Gonzalez, Esq. 	 	Date
	President and Authorized Representative	 	 
	Healing Herbs Corporation	 	 
	“Assignor “ 	 	 

 

	 	 	 
	Alexis Colón
    Asencio	 	Date
	Authorized Representative	 	 
	Green Spirit Industries, Inc.,	 	 
	Sole Member of Project 1493,
    LLC	 	 
	“Assignee” 	 	 

 

	 	 	 
	Norman Luis
    Santiago Gómez	 	Date
	Landlord

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