Document:

EX-10.1

EX-10.1
EXHIBIT
10.1
(EXECUTION VERSION)

AMENDED AND RESTATED AGREEMENT AND
PLAN OF MERGER

This Amended and Restated
Agreement and Plan of Merger (this "AGREEMENT") is made and entered into as of
April 21, 2015 (the "EFFECTIVE DATE"), by and among CannaPharmaRx, Inc., a
Delaware corporation ("CANNA DELAWARE"), CannaPharmaRX, Inc., a Colorado
corporation ("CPHR"), and CPHR Acquisition Corp., a Delaware corporation and a
wholly-owned subsidiary of Canna Delaware ("ACQUISITION SUB"). Each of Canna
Delaware, CPHR and Acquisition Sub is referred to herein individually as a
"PARTY," or collectively as the "PARTIES."

RECITALS

A. On May 15,
2014, CPHR entered into an Agreement and Plan of Merger, by and among Canna
Delaware (formerly known as Golden Dragon Holding Co.), CPHR and Acquisition Sub
(the "ORIGINAL AGREEMENT").

B. On
December 30, 2014, the Board of Directors of Canna Delaware voted to
terminate the Original Agreement, but said agreement was never formally
terminated in writing.

C. The respective
Boards of Directors of Canna Delaware, CPHR and Acquisition Sub now desire to
consummate the transactions contemplated by the original Agreement, modified as
provided herein and in connection therewith, have each approved and adopted this
Agreement and the transactions contemplated by this Agreement, in each case
after making a determination that this Agreement and such transactions are
advisable and fair to, and in the best interests of, such corporation and its
stockholders.

D. Canna Delaware
and CPHR intend to effect a transaction (the "MERGER"), pursuant to which
Acquisition Sub will merge with and into CPHR and CPHR will survive, as a result
of which all of the issued and outstanding capital stock of CPHR (the "CPHR
SHARES") will be converted into shares of common stock, par value $0.001 per
share, of Canna Delaware upon the terms and subject to the conditions set forth
in this Agreement.

E. The Parties
intend that the Merger contemplated by this Agreement will qualify as a tax-free
reorganization within the meaning of Section 368(a) of the U.S. Internal Revenue
Code of 1986, as amended, and the rules and regulations promulgated thereunder
(the "TAX CODE").

NOW, THEREFORE, in
consideration of the foregoing and the representations, warranties and mutual
covenants herein made, the parties hereby agree to the foregoing and as follows:

SECTION 1. DEFINITIONS. Capitalized
terms not otherwise defined herein have the meanings set forth in the attached
SCHEDULE 1.

SECTION 2. THE ORIGINAL AGREEMENT.
The Original Agreement is hereby amended and restated in its entirety, as
follows.

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SECTION 3. THE MERGER.

(a) EFFECTING THE
MERGER. Upon the terms and subject to the conditions contained in this
Agreement and in accordance with Section 252 of the General Corporation Law
of the State of Delaware, as amended (the "DGCL") and Section 7-111-106.5
of the Colorado Business Corporation Act of the State of Colorado, as amended
(the "CBCA"), at the Effective Time (as hereinafter defined):
(i) Acquisition Sub shall be merged with and into CPHR; (ii) the
separate corporate existence of Acquisition Sub shall thereupon cease and CPHR
will continue as the surviving corporation in the Merger and as a wholly-owned
subsidiary of Canna Delaware (sometimes referred to herein as the "SURVIVING
SUBSIDIARY"); (iii) all the properties, rights and privileges, and powers
of Acquisition Sub shall vest in the Surviving Subsidiary, and all debts,
liabilities and duties of each of Acquisition Sub and CPHR shall become the
debts, liabilities and duties of the Surviving Subsidiary; and (iv) each
share of common stock of Acquisition Sub issued and outstanding immediately
prior to the Effective Time shall remain outstanding and shall be converted into
one validly issued, fully paid and non-assessable share of CPHR's common stock.

(b) EFFECTIVE
TIME.

(i) Subject to the
provisions of this Agreement, on the Closing Date, the parties shall duly
prepare, execute and file with respect to the Merger (a) a certificate of
merger (the "CERTIFICATE OF MERGER") complying with Section 252(c) of the DGCL
with the Secretary of State of the State of Delaware, and (b) a statement
of merger (the "STATEMENT OF MERGER") complying with Section 7-90-203.7 of the
Colorado Corporations and Associations Act, as amended, of the State of Colorado
(the "CCAA"), with the Secretary of State of the State of Colorado. The Merger
shall become effective upon the filing of the Certificate of Merger and the
Statement of Merger (the "EFFECTIVE TIME"), or at such later time that the
parties hereto shall have agreed upon and designated in such filings in
accordance with applicable law as the effective time of the Merger.

(ii) The Merger
shall have the effects set forth in the DGCL, including without limitation,
Section 259 of the DGCL, and in the CCAA, including, without limitation,
Section 7-90-204 of the CCAA. Without limiting the generality of the
foregoing, from the Effective Time, all the properties, rights and privileges,
and powers of Acquisition Sub shall vest in the Surviving Subsidiary, and all
debts, liabilities and duties of each of Acquisition Sub and CPHR shall become
the debts, liabilities and duties of the Surviving Subsidiary

(c) EFFECT ON
CAPITAL STOCK.

(i) CONVERSION OF
CPHR SHARES. Upon the terms and subject to the conditions contained in this
Agreement, at the Effective Time, each CPHR Share issued and outstanding on the
Closing Date shall, by virtue of the Merger and without any action on the part
of CPHR, Canna Delaware, Acquisition Sub, or the holders of CPHR Shares as of
the Closing Date (each, an "ORIGINAL HOLDER," and collectively, the "ORIGINAL
HOLDERS"), be converted into and will become one share of validly issued, fully
paid and non-assessable common stock of Canna Delaware (the "CANNA DELAWARE
COMMON STOCK"). All shares of Canna Delaware Common Stock issued upon the
surrender for exchange of CPHR Shares in accordance with the terms hereof shall
(i) contain a restricted securities legend in compliance with the
Securities Act and (ii) be deemed to have been issued in full satisfaction
of all rights pertaining to such CPHR Shares. There shall be no further
registration of transfers on the stock transfer books of CPHR of the CPHR Shares
that were outstanding immediately prior to the Effective Time.

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(ii) FRACTIONAL
SHARES. No fractional shares will be issued in connection with the
conversion of CPHR Shares into Canna Delaware Common Stock, and any right to
receive a fractional share will be rounded to the nearest whole share.

(iii) CANCELLATION OF CPHR SHARES. At the Effective Time,
the CPHR Shares will be deemed canceled and retired and will cease to exist, and
each holder of a certificate for CPHR Shares will cease to have any rights with
respect thereto, except for dissenters' rights as required by applicable law and
except for the right to receive, upon surrender of an original stock certificate
representing CPHR Shares, a stock certificate for the same number of shares of
Canna Delaware Common Stock, bearing any necessary or appropriate restrictive
legend.

(iv) STATUS OF
CANNA DELAWARE SHARES. Each share of capital stock of Canna Delaware issued
and outstanding immediately prior to the Effective Time shall remain outstanding
following the consummation of the Merger.

(v) LOST, STOLEN
OR DESTROYED CERTIFICATES. If any certificate evidencing CPHR Shares shall
have been lost, stolen or destroyed, upon the making of an affidavit of that
fact by the person claiming the certificate to be lost, stolen or destroyed and,
if required by Canna Delaware, the posting of an indemnity bond, in such
reasonable amount as Canna Delaware or the transfer agent may direct, as
collateral security against any claim that may be made with respect to the
certificate, Canna Delaware will issue in exchange for the lost, stolen or
destroyed certificate the applicable number of shares of Canna Delaware Common
Stock.

(vi) At the
Effective Time, each share of common stock of Acquisition Sub ("ACQUISITION SUB
STOCK") issued and outstanding immediately prior to the Effective Time shall be
converted into and exchanged for one validly issued, fully paid, nonassessable
share of common stock of the Surviving Subsidiary. Each stock certificate
evidencing ownership of any shares of Acquisition Sub Stock shall, at the
Effective Time, evidence ownership of such shares of capital stock of the
Surviving Subsidiary.

(d) REORGANIZATION. The Parties intend to adopt this
Agreement and the Merger as a plan of reorganization under Section 368(a) of the
Tax Code. The shares of Canna Delaware Common Stock issued in the Merger will be
issued solely in exchange for CPHR Shares, and no other transaction other than
the Merger represents, provides for or is intended to be an adjustment to the
consideration paid for the CPHR Shares. No consideration that could constitute
"other property" within the meaning of Section 356(b) of the Tax Code is being
transferred by Canna Delaware for CPHR Shares in the Merger. The parties shall
not take a position on any tax return inconsistent with this Section 3(d).
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(e) FURTHER
ACTIONS. If at any time after the Effective Time, Canna Delaware or the
Surviving Subsidiary reasonably determines that any deeds, assignments, or
instruments, or conformations of transfer are necessary or desirable to carry
out the purposes of this Agreement, the officers and directors of Canna Delaware
and the Surviving Subsidiary are fully authorized in the name of their
respective corporations or otherwise to take, and will take, all such lawful and
necessary or desirable actions.

(f) PIGGY-BACK
REGISTRATION RIGHTS.

(i) In the event
that, following the Effective Time, Canna Delaware proposes to file a
registration statement with the SEC pursuant to the Securities Act covering the
public offering of any of its stock (other than a registration relating solely
to the issuance of securities by Canna Delaware pursuant to a stock option,
stock purchase or similar benefit plan or a Securities Act Rule 145
transaction), Canna Delaware shall promptly give each Original Holder written
notice of such registration. Canna Delaware shall use all reasonable efforts to
cause to be registered all of the shares of Canna Delaware Common Stock that
each such Original Holder has requested to be included in such registration.

(ii) Canna Delaware
shall have the right to terminate or withdraw any registration initiated by it
under this Section 3(f) before or after the effective date of such registration,
regardless of whether any Original Holder has elected to include shares of Canna
Delaware Common Stock in such registration.

(iii) All expenses
(other than underwriting discounts and commissions and stock transfer taxes and
fees) incurred in connection with a registration pursuant to Section 3(f)
including, without limitation, registration, filing and qualification fees,
printers' and accounting fees, fees and disbursements of counsel for Canna
Delaware shall be borne by Canna Delaware.

(iv) If a
registration of which Canna Delaware gives notice under this Section 3(f) is for
an underwritten offering, then Canna Delaware shall so advise the Original
Holders. In such event, the right of any Original Holder to include such
Original Holder's shares of Canna Delaware Common Stock in such registration
shall be conditioned upon such Original Holder's participation in such
underwriting and the inclusion of such Original Holder's shares of Canna
Delaware Common Stock in the underwriting to the extent provided herein. All
Original Holders proposing to distribute their shares of Canna Delaware Common
Stock through such underwriting shall enter into an underwriting agreement in
customary form with the managing underwriters selected for such underwriting.
Notwithstanding any other provision of this Agreement, if the managing
underwriters advise Canna Delaware that marketing factors require a limitation
of the number of shares of Canna Delaware Common Stock to be underwritten or
exclusion of the shares of Canna Delaware Common Stock, then the managing
underwriters may exclude the shares of the Original Holders from the
registration and the underwriting based on any reasonable methodology. If any
Original Holder disapproves of the terms of any such underwriting, such Original
Holder may elect to withdraw therefrom by written notice to Canna Delaware and
the managing underwriters. Any shares of Canna Delaware Common Stock excluded or
withdrawn from such underwriting shall be excluded and withdrawn from the
registration.

(g) The covenants
contained in (f) above shall survive the closing and shall be enforceable
whether or not contained in a separate agreement.

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SECTION 4. CLOSING.

(a) CLOSING
DATE. On the terms and subject to the conditions of this Agreement, the
closing of the Merger (the "CLOSING") shall be effective as soon as all of the
conditions hereof are met and any document deliveries take place at the offices
of Canna Delaware, on April 30, 2015, at 10:00 a.m. EST, or such other
time, date or place as Canna Delaware and CPHR may otherwise agree (the "CLOSING
DATE").

(b) DOCUMENTS TO
BE DELIVERED BY CANNA DELAWARE. On or before the Closing, Canna Delaware
will deliver or cause to be delivered to CPHR:

(i) all consents or
approvals required to be obtained by Canna Delaware for the purposes of
completing the Merger; and

(ii) certified
copies of such resolutions of the directors of Canna Delaware as are required to
be passed to authorize the execution, delivery and implementation of this
Agreement.

SECTION 5. [INTENTIONALLY OMITTED].

SECTION 6. CPHR'S REPRESENTATIONS AND
WARRANTIES. CPHR represents and warrants to Canna Delaware that the
statements contained in this Section 6 are true and correct as of the
Effective Date and will be true and correct as of the Closing Date, as set forth
herein and in the disclosure schedule delivered by CPHR to Canna Delaware on
even date herewith (the "CPHR SCHEDULE"), arranged in sections corresponding to
the paragraphs in this Section; the disclosure in any section or paragraph will
qualify other paragraphs in this Section to the extent that it is reasonably
apparent from a reading of the disclosure that it also qualifies or applies to
such other paragraphs.

(a) ORGANIZATION. CPHR is a corporation validly existing
and in good standing under the laws of the State of Colorado and has all
requisite power and authority and possesses all necessary governmental approvals
necessary to own, lease and operate its properties, to carry on its business as
now being conducted, to execute and deliver this Agreement and the agreements
contemplated herein, and to consummate the transactions contemplated hereby and
thereby. CPHR is duly qualified to do business and is in good standing in all
jurisdictions in which its ownership of property or the character of its
business requires such qualification, except where the failure to be so
qualified would not reasonably be expected to have an Adverse Effect. Certified
copies of the Articles of Incorporation and Bylaws of CPHR, as amended to date,
each as currently in effect, have been made available to Canna Delaware, are
complete and correct, and no amendments have been made thereto or have been
authorized since the date thereof. CPHR is not in violation of any of the
provisions of its Articles of Incorporation or Bylaws.

(b) CAPITALIZATION.

(i) CPHR's
authorized capital stock consists solely of 100,000,000 CPHR common shares, no
par, as of the date hereof.

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(ii) There are
9,750,000 CPHR Shares issued and outstanding and no other authorized or issued
CPHR Shares or other measure of capital ownership of CPHR. There are no
agreements, arrangements or understandings to which CPHR is a party (written or
oral) to issue any other CPHR Shares or other measures of capital ownership of
CPHR. All of the issued and outstanding CPHR Shares were duly and validly issued
and fully paid, are non-assessable and free of preemptive rights, and were
issued in compliance with all applicable state and federal securities laws.

(iii) Except as
provided in the CPHR Schedule, there are no outstanding (A) options,
warrants, or other rights to purchase from CPHR any CPHR Shares or other
measures of capital ownership of CPHR; (B) debt securities or instruments
convertible into or exchangeable for CPHR Shares or other measures of capital
ownership of CPHR; or (C) commitments of any kind for the issuance of
additional CPHR Shares or options, warrants or other securities of CPHR.

(iv) There are no
options or other rights to acquire such shares or other measures of capital
ownership and there are no preemptive rights or agreements, arrangements or
understandings to issue preemptive rights with respect to the issuance or sale
of any CPHR Shares or other measures of capital ownership of CPHR created by
statute, the Articles of Incorporation or Bylaws, or any agreement or other
arrangement to which CPHR is a party or to which it is bound and there are no
agreements, arrangements or understandings to which CPHR is a party (written or
oral) pursuant to which CPHR has the right to elect to satisfy any liability by
issuing any CPHR Shares or other measures of capital ownership of CPHR.

(v) Other than the
Bylaws, CPHR is not a party or subject to any agreement or understanding, and,
to CPHR's Knowledge, there is no agreement, arrangement or understanding between
or among any persons which affects, restricts or relates to voting, giving of
written consents, distributions, allocation of profits and losses, or
transferability of shares or other measures of capital ownership of CPHR,
including any voting trust agreement or proxy.

(c) NO
SUBSIDIARIES. CPHR does not own any capital stock or other equity interest
in any corporation, partnership, joint venture, or other entity.

(d) AUTHORIZATION. CPHR has all requisite power and
authority to execute and deliver this Agreement, to perform its obligations
hereunder, and to consummate the transactions contemplated hereby. The execution
and delivery of this Agreement by CPHR and the consummation by CPHR of the
transactions contemplated hereby have been duly and validly authorized by all
necessary corporate action by CPHR and no other corporate proceedings on the
part of CPHR and no other stockholder vote or consent is necessary to authorize
this Agreement or to consummate the transactions contemplated hereby. This
Agreement has been duly and validly executed and delivered by CPHR. This
Agreement and all other agreements and obligations entered into and undertaken
in connection with the transactions contemplated hereby to which CPHR is a party
constitute the valid and legally binding obligations of CPHR, enforceable
against CPHR in accordance with their respective terms, except as may be limited
by principles of equity or applicable bankruptcy, reorganization, insolvency,
moratorium, fraudulent conveyance or other similar laws relating to or affecting
the rights and remedies of creditors generally. The execution, delivery and
performance by CPHR of this Agreement and the agreements provided for herein,
and the consummation by CPHR of the transactions contemplated hereby and
thereby, will not, with or without

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the giving of notice or the passage of time
or both, violate the provisions of the Articles of Incorporation or Bylaws of CPHR, or (i) violate any judgment, decree, order or award of any court,
governmental body or arbitrator; (ii) conflict with or result in the breach
or termination of any term or provision of, or constitute a default under, or
cause any acceleration under, or cause the creation of any lien, charge or
encumbrance upon the properties or assets of CPHR pursuant to, any indenture,
mortgage, deed of trust or other instrument or agreement to which CPHR is a
party or by which CPHR or any of its properties is or may be bound; or
(iii) to CPHR's Knowledge, violate the provisions of any law, rule or
regulation applicable to CPHR, except where such violation would not reasonably
be expected to have an Adverse Effect.

(e) NO
CONFLICT. The execution and delivery of this Agreement by CPHR does not
require any consent or approval under, result in any breach of, result in any
loss of any benefit under, or constitute a change of control or default (or an
event which with notice or lapse of time or both would become a default) under,
or give to others any right of termination, vesting, amendment, acceleration or
cancellation of, or result in the creation of any lien or encumbrance on any
property or asset of CPHR pursuant to any material agreement of CPHR or other
instrument or obligation of CPHR.

(f) LITIGATION. Except as specified in the CPHR Schedule,
there is no action, suit, legal or administrative proceeding or investigation
pending or, to CPHR's Knowledge, threatened against or involving CPHR (either as
a plaintiff or defendant) before any court or governmental agency, authority,
body or arbitrator. There is not in existence on the date hereof any order,
judgment or decree of any court, tribunal or agency to CPHR's Knowledge
enjoining or requiring CPHR to take any action of any kind with respect to its
business, assets or properties.

(g) INSURANCE. The CPHR Schedule contains a listing of
all current CPHR insurance policies. To CPHR's Knowledge, all current insurance
policies are in full force and effect, are in amounts of a nature that are
adequate and customary for CPHR's business, and to CPHR's Knowledge are
sufficient for compliance with all legal requirements and agreements to which it
is a party or by which it is bound. All premiums due on current policies or
renewals have been paid, and there is no material default under any of the
policies.

(h) PERSONAL
PROPERTY. CPHR has good and marketable title to all of its tangible personal
property free and clear of all liens, leases, encumbrances, claims under
bailment and storage agreements, equities, conditional sales contracts, security
interests, charges, and restrictions, except for liens, if any, for personal
property taxes not due. Such property is used by CPHR in the ordinary course of
its business and is sufficient for continued conduct of CPHR's business after
the Closing Date in substantially the same manner as conducted prior to the
Closing Date. Such property is in good operating condition and repair, normal
wear and tear excepted, and normal maintenance has been performed.

(i) INTANGIBLE
PROPERTY. CPHR owns, or possesses, adequate licenses or other valid rights
to use all existing U.S. and foreign patents, trade names, service marks,
copyrights, trade secrets, and applications therefor listed in the CPHR
Schedule, which are material to its business as currently conducted (the "CPHR
INTELLECTUAL PROPERTY RIGHTS"), except where the failure to have such CPHR
Intellectual Property Rights would not reasonably be expected to

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have an Adverse
Effect. CPHR has the right and authority to use, and to continue to use such
CPHR Intellectual Property Rights after the Closing Date, such property in
connection with the conduct of its business in the manner presently conducted,
and to its Knowledge such use or continuing use does not and will not materially
infringe upon or violate any rights of any other person.

(j) REAL
PROPERTY. Except as specified on the CPHR Schedule, CPHR is not a party to
any material lease agreements and does not have any interests in any parcel of
real property, improved or otherwise.

(k) TAX
MATTERS. Except as specified in the CPHR Schedule, CPHR has filed, or will
have filed, all federal, state and local tax returns and all tax returns for
other governing bodies having jurisdiction to levy taxes upon it that are
required to be filed. CPHR has paid all taxes, interest, penalties, assessments
and deficiencies that have become due, including without limitation income,
franchise, real estate, and sales and withholding taxes. No examinations of the
federal, state or local tax returns of CPHR are currently in progress nor
threatened and no deficiencies have been asserted or to CPHR's Knowledge
assessed against CPHR as a result of any audit by the Internal Revenue Service
or any state or local taxing authority and no such deficiency has been proposed
or threatened.

(l) BOOKS AND
RECORDS. The general ledger and books of account of CPHR, all minute books
of CPHR, all federal, state and local income, franchise, property and other tax
returns filed by CPHR, all of which have been made available to Canna Delaware,
are in all material respects complete and correct and have been maintained in
accordance with good business practice and in accordance with all applicable
procedures required by laws and regulations, except as would reasonably be
expected to have an Adverse Effect.

(m) CONTRACTS AND
COMMITMENTS. The CPHR Schedule lists all material contracts and agreements
to which CPHR is a party, whether written or oral, other than those between CPHR
and Canna Delaware. Each such contract is a valid and binding agreement of CPHR,
enforceable against CPHR in accordance with its terms, is in full force and
effect and represents the material terms of the agreement between the respective
parties. CPHR has materially complied with all obligations required pursuant to
such contracts to have been performed by CPHR on its part and neither CPHR nor,
to CPHR's Knowledge, any other party to such contract is in breach of or default
in any material respect under any such contract.

(n) COMPLIANCE
WITH LAWS. CPHR has all requisite licenses, permits and certificates,
including environmental, health and safety permits, from federal, state and
local authorities necessary to conduct its business as currently conducted and
own and operate its assets, except where the failure to have such permits would
not reasonably be expected to have an Adverse Effect. To CPHR's Knowledge, CPHR
is not in violation of any federal, state or local law, regulation or ordinance
(including, without limitation, laws, regulations or ordinances relating to
building, zoning, environmental, disposal of hazardous waste, land use or
similar matters) relating to its business or its properties.

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(o) EMPLOYEE
BENEFIT PLANS. Except as specified on the CPHR Schedule, CPHR has no (A)
employee benefit plans as defined in ERISA Section 3(3), (B) bonus,
stock option, stock purchase, incentive, deferred compensation, supplemental
retirement, severance or other similar employee benefit plans, or
(C) material unexpired severance agreements with any current or former
employee of Canna Delaware. With respect to such plans, individually and in the
aggregate, no event has occurred and, to CPHR's Knowledge, there exists no
condition or set of circumstances in connection with which CPHR could be subject
to any liability that is reasonably likely to have an Adverse Effect under
ERISA, the Tax Code or any other applicable law.

(p) INDEBTEDNESS
TO AND FROM AFFILIATES. As of the Closing Date, CPHR is not indebted,
directly or to its Knowledge indirectly, to any officer, director or 10%
stockholder of CPHR in any amount other than for salaries for services rendered
or reimbursable business expenses, and no such person is indebted to CPHR except
for advances made to employees of CPHR in the ordinary course of business to
meet reimbursable business expenses.

(q) REGULATORY
APPROVALS. All consents, approvals, authorizations or other requirements
prescribed by any law, rule or regulation that must be obtained or satisfied by
CPHR and that are necessary for the execution and delivery by CPHR of this
Agreement or any documents to be executed and delivered by CPHR in connection
therewith have been, or prior to the Closing Date will be, obtained and
satisfied.

(r) NO
BROKERS. No broker or finder has acted for CPHR in connection with this
Agreement or the transactions contemplated hereby, and no broker or finder is
entitled to any brokerage or finder's fee or other commissions in respect of
such transactions based upon agreements, arrangements or understandings made by
or on behalf of CPHR.

(s) DISCLOSURE. The information concerning CPHR set forth
in this Agreement, the exhibits and schedules hereto, and any document,
statement or certificate furnished or to be furnished in connection herewith (as
applicable) does not and will not contain any untrue statement of a material
fact or omit to state a material fact required to be stated herein or therein or
necessary to make the statements and facts contained herein or therein, in light
of the circumstances in which they are made, not false or misleading.

(t) TAX
TREATMENT. Neither CPHR nor, to the Knowledge of CPHR, any of its Affiliates
has taken or agreed to take action that would prevent the Merger from
constituting a reorganization qualifying under the provisions of
Section 368 of the Tax Code.

(u) ABSENCE OF
LIABILITIES. Except as set forth on CPHR's unaudited balance sheet dated
March 31, 2015, CPHR does not have any liability or obligation, secured or
unsecured, whether accrued, absolute, contingent, unasserted or otherwise, that
exceeds an aggregate of $1,000, other than current liabilities entered into in
the ordinary course of business.

SECTION 7. CANNA DELAWARE'S AND
ACQUISITION SUB'S REPRESENTATIONS AND WARRANTIES. Each of Canna Delaware and
Acquisition Sub represents and warrants to CPHR and the Surviving Subsidiary
that the statements contained in this Section 7 are true and correct as of
the Effective Date and will be true and correct as of the Closing Date, as set
forth herein and in the disclosure schedule delivered by Canna Delaware and
Acquisition

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Sub to CPHR on even date herewith (the "CANNA DELAWARE SCHEDULE"),
arranged in sections corresponding to the paragraphs in this Section; the
disclosure in any section or paragraph will qualify other paragraphs in this
Section to the extent that it is reasonably apparent from a reading of the
disclosure that it also qualifies or applies to such other paragraphs.

(a) ORGANIZATION.

(i) Canna Delaware
is a corporation validly existing and in good standing under the laws of the
State of Delaware and has all requisite power and authority and possesses all
necessary governmental approvals necessary to own, lease and operate its
properties, to carry on its business as now being conducted, to execute and
deliver this Agreement and the agreements contemplated herein, and to consummate
the transactions contemplated hereby and thereby. Canna Delaware is duly
qualified to do business and is in good standing in all jurisdictions in which
its ownership of property or the character of its business requires such
qualification, except where the failure to be so qualified would not reasonably
be expected to have an Adverse Effect. Certified copies of its Certificate of
Incorporation and Bylaws, as amended to date, each as currently in effect, have
been made available to CPHR, are complete and correct, and no amendments have
been made thereto or have been authorized since the date thereof. Canna Delaware
is not in violation of any of the provisions of its Certificate of Incorporation
or Bylaws.

(ii) Acquisition Sub
is a corporation validly existing and in good standing under the laws of the
State of Delaware and has all requisite power and authority and possesses all
necessary governmental approvals necessary to own, lease and operate its
properties, to carry on its business as now being conducted, to execute and
deliver this Agreement and the agreements contemplated herein, and to consummate
the transactions contemplated hereby and thereby. Certified copies of its
Certificate of Incorporation and Bylaws, as amended to date, each as currently
in effect, have been made available to CPHR, are complete and correct, and no
amendments have been made thereto or have been authorized since the date
thereof. Acquisition Sub is not in violation of any of the provisions of its
Certificate of Incorporation or Bylaws.

(b) CAPITALIZATION.

(i) Canna Delaware's
authorized capital stock consists solely of 100,000,000 shares of common stock,
par value $0.001 per share, and 10,000,000 shares of preferred stock, par value
$0.001 per share, as of the date hereof.

(ii) There are
17,677,408 shares of common stock issued and outstanding of Canna Delaware, no
preferred stock is issued and outstanding and no shares of common stock of Canna
Delaware are held in the treasury of Canna Delaware. No other authorized or
issued shares of Canna Delaware or other measure of capital ownership of Canna
Delaware are outstanding. There are no agreements, arrangements or
understandings to which Canna Delaware is a party (written or oral) to issue any
other shares of Canna Delaware or other measures of capital ownership of Canna
Delaware. All of the issued and outstanding shares of common

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stock of Canna
Delaware were duly and validly issued and fully paid, are non-assessable and
free of preemptive rights, and were issued in compliance with all applicable
U.S. state and federal securities laws.

(iii) Except as
provided in the Canna Delaware Schedule, there are no outstanding
(A) options, warrants, or other rights to purchase from Canna Delaware any
capital stock or other measures of capital ownership of Canna Delaware or
Acquisition Sub; (B) debt securities or instruments convertible into or
exchangeable for shares or other measures of capital ownership of such stock; or
(C) commitments of any kind for the issuance of additional shares of
capital stock or options, warrants or other securities of Canna Delaware or
Acquisition Sub.

(iv) Canna Delaware
owns all of the outstanding capital stock of Acquisition Sub, free and clear of
all liens or other encumbrances.

(c) NO
SUBSIDIARIES. Except for Acquisition Sub and as provided in the Canna
Delaware Schedule, Canna Delaware does not own any capital stock or other equity
interest in any corporation, partnership, joint venture or other entity.

(d) AUTHORIZATION. Each of Canna Delaware and Acquisition
Sub has all requisite power and authority to execute and deliver this Agreement,
to perform its obligations hereunder, and to consummate the transactions
contemplated hereby. The execution and delivery of this Agreement by Canna
Delaware and Acquisition Sub and the consummation by Canna Delaware and
Acquisition Sub of the transactions contemplated hereby have been duly and
validly authorized by all necessary corporate action by Canna Delaware or
Acquisition Sub, respectively, and no other corporate proceedings on the part of
Canna Delaware or Acquisition Sub, respectively, and no stockholder vote or
consent by the stockholders of Canna Delaware is necessary to authorize this
Agreement or to consummate the transactions contemplated hereby. This Agreement
has been duly and validly executed and delivered by Canna Delaware and
Acquisition Sub. This Agreement and all other agreements and obligations entered
into and undertaken in connection with the transactions contemplated hereby to
which Canna Delaware or Acquisition Sub is a party constitute the valid and
legally binding obligations of Canna Delaware and Acquisition Sub, respectively,
enforceable against Canna Delaware and Acquisition Sub, respectively, in
accordance with their terms, except as may be limited by principles of equity or
applicable bankruptcy, reorganization, insolvency, moratorium, fraudulent
conveyance or other similar laws relating to or affecting the rights and
remedies of creditors generally. The execution, delivery and performance by
Canna Delaware and Acquisition Sub of this Agreement and the agreements provided
for herein, and the consummation by Canna Delaware and Acquisition Sub of the
transactions contemplated hereby and thereby, will not, with or without the
giving of notice or the passage of time or both, violate the provisions of the
Certificate of Incorporation or Bylaws of Canna Delaware, the Certificate of
Incorporation or Bylaws of Acquisition Sub, or (i) violate any judgment,
decree, order or award of any court, governmental body or arbitrator;
(ii) conflict with or result in the breach or termination of any term or
provision of, or constitute a default under, or cause any acceleration under, or
cause the creation of any lien, charge or encumbrance upon the properties or
assets of Canna Delaware or Acquisition Sub pursuant to, any indenture,
mortgage, deed of trust or other instrument or agreement to which Canna Delaware
or Acquisition Sub is a party or by which Canna Delaware Acquisition Sub or any
of their respective properties is or may be bound; or (iii) to Canna
Delaware's or Acquisition

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Sub's Knowledge, violate the provisions of any law,
rule or regulation applicable to Canna Delaware or Acquisition Sub, except where
such violation would not reasonably be expected to have an Adverse Effect.

(e) NO
CONFLICT. The execution and delivery of this Agreement by Canna Delaware or
Acquisition Sub does not require any consent or approval under, result in any
breach of, result in any loss of any benefit under, or constitute a change of
control or default (or an event which with notice or lapse of time or both would
become a default) under, or give to others any right of termination, vesting,
amendment, acceleration or cancellation of, or result in the creation of any
lien or encumbrance on any property or asset of Canna Delaware or Acquisition
Sub pursuant to any material agreement of Canna Delaware or Acquisition Sub or
other instrument or obligation of Canna Delaware or Acquisition Sub.

(f) ABSENCE OF
LIABILITIES. Except as set forth on Canna Delaware's unaudited balance sheet
dated March 31, 2015 and as set forth in Canna Delaware's Annual Report on
Form 10-K for the period ended December 31, 2014, as filed with the SEC,
Canna Delaware does not have any liability or obligation, secured or unsecured,
whether accrued, absolute, contingent, unasserted or otherwise, that exceeds an
aggregate of $1,000, other than current liabilities entered into in the ordinary
course of business. Acquisition Sub has no liabilities or obligations.

(g) LITIGATION. Except as specified in the Canna Delaware
Schedule, there is no action, suit, legal or administrative proceeding or
investigation pending or, to Canna Delaware's Knowledge, threatened against or
involving Canna Delaware or Acquisition Sub (either as a plaintiff or defendant)
before any court or governmental agency, authority, body or arbitrator. There is
not in existence on the date hereof any order, judgment or decree of any court,
tribunal or agency to Canna Delaware's Knowledge enjoining or requiring Canna
Delaware or Acquisition Sub to take any action of any kind with respect to its
business, assets or properties.

(h) TAX
MATTERS. Except as specified in the Canna Delaware Schedule, Canna Delaware
has filed, or will have filed, all federal, state and local tax returns and all
tax returns for other governing bodies having jurisdiction to levy taxes upon it
that are required to be filed. Canna Delaware has paid all taxes, interest,
penalties, assessments, and deficiencies that have become due, including without
limitation income, franchise, real estate, and sales and withholding taxes. No
examinations of the federal, state or local tax returns of Canna Delaware are
currently in progress nor threatened and no deficiencies have been asserted or
to Canna Delaware's Knowledge assessed against Canna Delaware as a result of any
audit by the Internal Revenue Service or any state or local taxing authority and
no such deficiency has been proposed or threatened.

(i) BOOKS AND
RECORDS. The general ledger and books of account of Canna Delaware, all
minute books of Canna Delaware, all federal, state and local income, franchise,
property and other tax returns filed by Canna Delaware, all reports and filings
with the SEC by Canna Delaware, all of which have been made available to CPHR,
are in all material respects complete and correct and have been maintained in
accordance with good business practice and in accordance with all applicable
procedures required by laws and regulations, except as would reasonably be
expected to have an Adverse Effect.

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(j) CONTRACTS AND
COMMITMENTS. There are no material contracts to which Canna Delaware is a
party other than those specified in its filings with the SEC.

(k) COMPLIANCE
WITH LAWS. Canna Delaware has all requisite licenses, permits and
certificates, including environmental, health and safety permits, from federal,
state and local authorities necessary to conduct its business as currently
conducted and own and operate its assets, except where the failure to have such
permits would not reasonably be expected to have an Adverse Effect. To Canna
Delaware's Knowledge, Canna Delaware is not in violation of any federal, state
or local law, regulation or ordinance (including, without limitation, laws,
regulations or ordinances relating to building, zoning, environmental, disposal
of hazardous waste, land use or similar matters) relating to its business or its
properties.

(l) EMPLOYEE
BENEFIT PLANS. Except as disclosed in its filings with the SEC, Canna
Delaware has no (A) employee benefit plans as defined in ERISA
Section 3(3), (B) bonus, stock option, stock purchase, incentive,
deferred compensation, supplemental retirement, severance or other similar
employee benefit plans, or (C) material unexpired severance agreements with
any current or former employee of Canna Delaware. With respect to such plans,
individually and in the aggregate, no event has occurred and, to Canna
Delaware's Knowledge, there exists no condition or set of circumstances in
connection with which Canna Delaware could be subject to any liability that is
reasonably likely to have an Adverse Effect under ERISA, the Tax Code or any
other applicable law.

(m) INDEBTEDNESS
TO AND FROM AFFILIATES. As of the Closing Date, Canna Delaware is not
indebted, directly or to its Knowledge indirectly, to any officer, director or
10% stockholder of Canna Delaware in any amount other than for salaries for
services rendered or reimbursable business expenses, and no such person is
indebted to Canna Delaware except for advances made to employees of Canna
Delaware in the ordinary course of business to meet reimbursable business
expenses.

(n) REGULATORY
APPROVALS. All consents, approvals, authorizations or other requirements
prescribed by any law, rule or regulation that must be obtained or satisfied by
Canna Delaware or Acquisition Sub and that are necessary for the execution and
delivery by Canna Delaware or Acquisition Sub of this Agreement or any documents
to be executed and delivered by Canna Delaware or Acquisition Sub in connection
therewith have been obtained and satisfied.

(o) NO
BROKERS. No broker or finder has acted for Canna Delaware or Acquisition Sub
in connection with this Agreement or the transactions contemplated hereby, and
no broker or finder is entitled to any brokerage or finder's fee or other
commissions in respect of such transactions based upon agreements, arrangements
or understandings made by or on behalf of Canna Delaware or Acquisition Sub.

(p) DISCLOSURE. The information concerning each of Canna
Delaware or Acquisition Sub set forth in its reports and filings with the SEC,
this Agreement, the exhibits and schedules hereto, and any document, statement
or certificate furnished or to be furnished in connection herewith (as
applicable) does not and will

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not contain any untrue statement of a material fact or omit to state
a material fact required to be stated herein or therein or necessary to make the
statements and facts contained herein or therein, in light of the circumstances
in which they are made, not false or misleading.

(q) SEC
FILINGS.

(i) Except as
disclosed on the Canna Delaware Schedule, Canna Delaware has filed all forms,
reports and documents required to be filed with the SEC since it first became a
public reporting company. At the time filed or, with respect to registration
statements filed with the SEC under the Securities Act, as of the effective date
thereof, all such filings (A) complied in all material respects with the
applicable requirements of the Securities Act and the Exchange Act, as the case
may be, and (B) did not at the time they were filed (or if amended or
superseded by a filing prior to the date of this Agreement, then on the date of
such filing) contain any untrue statement of a material fact or omit to state a
material fact required to be stated in such filings or necessary in order to
make the statements in such filings, in the light of the circumstances under
which they were made, not misleading.

(ii) Each of the
financial statements (including, in each case, any related notes) contained in
Canna Delaware's SEC filings complied as to form in all material respects with
the applicable rules and regulations with respect thereto, was prepared in
accordance with GAAP applied on a consistent basis throughout the periods
involved (except as may be indicated in the notes to such financial statements
or, in the case of unaudited statements, as permitted by Form 10-Q of the SEC)
and fairly presented the financial position of Canna Delaware as of the dates
and the results of its operations and cash flows for the periods indicated,
except that the unaudited interim financial statements were or are subject to
normal and recurring year-end adjustments which were not or are not expected to
be material in amount.

(r) TAX
TREATMENT. Neither Canna Delaware nor, to the Knowledge of Canna Delaware,
any of its Affiliates has taken or agreed to take action that would prevent the
Merger from constituting a reorganization qualifying under the provisions of
Section 368 of the Tax Code.

(s) CERTIFICATES. The certificates representing the
shares of Canna Delaware to be delivered pursuant to this Agreement are subject
to certain trading restrictions imposed by the Securities Act and applicable
U.S. state securities or "blue sky" laws.

(t) INVESTMENT
COMPANY. Canna Delaware is not, and is not an Affiliate of, and immediately
following the Closing will not have become, an "investment company" within the
meaning of the U.S. Investment Company Act of 1940, as amended.

SECTION 8. COVENANTS OF CANNA
DELAWARE.

(a) CONDUCT OF
BUSINESS OF CANNA DELAWARE. Except as contemplated by this Agreement, during
the period from the date hereof to the Effective Time, Canna Delaware will
conduct its operations in the ordinary course of business consistent with past
practice and, to the extent consistent therewith, with no less diligence and
effort than would be applied in the absence of this Agreement, seek to preserve
intact its current business organization. Except as

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otherwise expressly provided
in this Agreement or in the Canna Delaware Disclosure Schedule, prior to the
Effective Time, Canna Delaware shall not, without the prior written consent of
CPHR:

(i) amend its
Certificate of Incorporation or Bylaws (or other similar governing instrument);

(ii) authorize for
issuance, issue, sell, deliver or agree or commit to issue, sell or deliver
(whether through the issuance or granting of options, warrants, commitments,
subscriptions, rights to purchase or otherwise) any stock of any class or any
other securities (except bank loans) or equity equivalents (including, without
limitation, any stock options or stock appreciation rights;

(iii) split, combine
or reclassify any shares of its capital stock, declare, set aside or pay any
dividend or other distribution (whether in cash, stock or property or any
combination thereof) in respect of its capital stock, make any other actual,
constructive or deemed distribution in respect of its capital stock or otherwise
make any payments to stockholders in their capacity as such, or redeem or
otherwise acquire any of its securities;

(iv) adopt a plan of
complete or partial liquidation, dissolution, merger, consolidation,
restructuring, recapitalization or other reorganization of Canna Delaware (other
than the Merger);

(v) incur or assume
any long-term or short-term debt or issue any debt securities; assume,
guarantee, endorse or otherwise become liable or responsible (whether directly,
contingently or otherwise) for the obligations of any other person; make any
loans, advances or capital contributions to, or investments in, any other
person; pledge or otherwise encumber shares of capital stock of Canna Delaware;
or mortgage or pledge any of its material assets, or create or suffer to exist
any material lien thereupon (other than tax liens for taxes not yet due);

(vi) except as
contemplated in this Agreement and by that certain letter of intent dated March
10, 2015 with respect to a potential acquisition, acquire, sell, lease or
dispose of any material assets in any single transaction or series of related
transactions (other than in the ordinary course of business);

(vii) except as may
be required as a result of a change in law or in generally accepted accounting
principles, change any of the accounting principles or practices used by it;

(viii) acquire (by
merger, consolidation, or acquisition of stock or assets) any corporation,
partnership or other business organization or division thereof or any equity
interest therein; enter into any contract or agreement other than in the
ordinary course of business consistent with past practice; authorize any new
capital expenditure or expenditures which, individually is in excess of $1,000
or, in the aggregate, are in excess of $5,000;

(ix) make any tax
election or settle or compromise any income tax liability material to Canna
Delaware;

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(x) settle or
compromise any pending or threatened suit, action or claim which relates to the
transactions contemplated hereby or the settlement or compromise of which could
have an Adverse Effect on Canna Delaware; or

(xi) take, or agree
in writing or otherwise to take, any of the actions described in Sections
7(a)(i) through (x) or any action which would make any of the
representations or warranties of contained in this Agreement untrue or
incorrect.

SECTION 9. COVENANTS OF CPHR.

(a) CONDUCT OF
BUSINESS OF CPHR. Except as contemplated by this Agreement, including as
described in the CPHR Disclosure Schedule, during the period from the date
hereof to the Effective Time, CPHR will conduct its operations in the ordinary
course of business consistent with past practice and, to the extent consistent
therewith, with no less diligence and effort than would be applied in the
absence of this Agreement, seek to preserve intact its current business
organization, and keep available the service of its current officers and
employees. Without limiting the generality of the foregoing, except as otherwise
expressly provided in this Agreement or as described in the CPHR Disclosure
Schedule, prior to the Effective Time, CPHR shall not, without the prior written
consent of Canna Delaware:

(i) adopt a plan of
complete or partial liquidation, dissolution, merger consolidation,
restructuring, recapitalization or other reorganization of CPHR (other than the
Merger);

(ii) incur or assume
any long-term or short-term debt or issue any debt securities; (ii) assume,
guarantee, endorse or otherwise become liable or responsible (whether directly,
contingently or otherwise) for the obligations of any other person;
(iii) make any loans, advances or capital contributions to, or investments
in, any other person; (iv) pledge or otherwise encumber shares of capital
stock of CPHR; or (v) mortgage or pledge any of its material assets, or
create or suffer to exist any material lien thereupon (other than tax liens for
taxes not yet due); or

(iii) take, or agree
in writing or otherwise to take, any action which would make any of the
representations or warranties of the CPHR contained in this Agreement untrue or
incorrect.

SECTION 10. OTHER COVENANTS AND
AGREEMENTS OF THE PARTIES.

(a) ACQUISITION
SUB MEETING OF STOCKHOLDERS. Acquisition Sub shall take all action
necessary, in accordance with Section 228 of the DGCL, its Certificate of
Incorporation and its Bylaws, to obtain the written consent of its sole
stockholder, in lieu of a stockholder meeting, to approve the adoption and
approval of this Agreement and the transactions contemplated hereby.

(b) CPHR MEETING
OF SHAREHOLDERS. CPHR shall take all action necessary, in accordance with
Section 7-107-104 of the CBCA, its Articles of Incorporation and its
Bylaws, to obtain the written consents of all of its shareholders, in lieu of a
shareholder meeting, to approve the adoption and approval of this

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Agreement and
the transactions contemplated hereby. Promptly following receipt of the written
consents, CPHR shall deliver a copy of such written consents to Canna Delaware.

(c) CANNA
DELAWARE COMMON STOCK. At the Effective Time, Canna Delaware shall not have
issued and outstanding more than 17,006,288 shares of Canna Delaware Common
Stock.

(d) CPHR
OWNERSHIP OF CANNA DELAWARE: As of the effective date of the Merger, the
10,421,120 shares of common stock of Canna Delaware, owned by CPHR, shall be
surrendered and deemed retired to treasury of Canna Delaware.

(e) ACCESS TO
INFORMATION. Between the date hereof and the Effective Time, Canna Delaware
will give CPHR and its authorized representatives reasonable access to its
facilities and to all books and records of itself, will permit CPHR to make such
inspections as CPHR may reasonably require and will cause its officers to
furnish CPHR with such financial and operating data and other information with
respect to the business and properties of itself as CPHR may from time to time
reasonably request. Each of the Parties hereto will hold and will cause its
consultants and advisers to hold in confidence all documents and information
furnished to it in connection with the transactions contemplated by this
Agreement.

(f) ADDITIONAL
AGREEMENTS, REASONABLE EFFORTS. Subject to the terms and conditions herein
provided, each of the Parties hereto agrees to use all reasonable efforts to
take, or cause to be taken, all action, and to do, or cause to be done, all
things reasonably necessary, proper or advisable under applicable laws and
regulations to consummate and make effective the transactions contemplated by
this Agreement, including, without limitation, (i) cooperating in the
preparation of a Form 8-K to be filed with the SEC in connection with this
Agreement, (ii) obtaining consents of all third parties and governmental
entities necessary, proper or advisable for the consummation of the transactions
contemplated by this Agreement; and (iii) the execution of any additional
instruments necessary to consummate the transactions contemplated hereby.

(g) PRESS
RELEASES. CPHR and Canna Delaware will consult with each other before
issuing, and will provide each other the opportunity to review and comment upon,
any press release or other public statements with respect to the transactions
contemplated by this Agreement and shall not issue any such press release or
make any such public statement prior to such consultation, except as may be
required by applicable law or court process. The Parties agree that the initial
press release or releases to be issued with respect to the transactions
contemplated by this Agreement shall be mutually agreed upon prior to the
issuance thereof.

(h) OTHER
FILINGS. At all times from and after the date hereto until the Effective
Time, Canna Delaware covenants and agrees to make all filings it is required to
make pursuant to the Exchange Act on a timely basis.

SECTION 11. CPHR'S CONDITIONS TO THE
MERGER. The obligation of CPHR to effect the Merger shall be subject to the
fulfillment at or prior to the Closing Date of the following conditions, unless
waived by CPHR:

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(a) Each of the
representations and warranties of Canna Delaware and Acquisition Sub contained
in this Agreement shall be true and correct as of the date of this Agreement and
on and as of the Closing Date as though made on the Closing Date (except that
representations and warranties made as of a specified date need be true and
correct only as of the specified date), except to the extent that any changes,
circumstances, or events making such representations and warranties not true or
correct would not, individually or in the aggregate, constitute an Adverse
Effect and at the Closing each of Canna Delaware and Acquisition Sub shall have
delivered to CPHR a certificate to that effect;

(b) Any governmental
or third party approvals required to effect the Merger shall have been obtained;

(c) Each of Canna
Delaware and Acquisition Sub shall have performed or complied in all material
respects with all agreements and covenants required by this Agreement to be
performed or complied with by it on or prior to the Effective Time and at the
Closing Canna Delaware shall have delivered to CPHR a certificate to that
effect;

(d) From the date of
this Agreement through the Effective Time, there shall not have occurred any
change, circumstance or event concerning Canna Delaware or Acquisition Sub that
has had or could be reasonably likely to have an Adverse Effect;

(e) Canna Delaware
shall have delivered to CPHR a complete and accurate Canna Delaware Schedule and
such schedule shall have been approved by CPHR;

(f) CPHR shall have
received a resolution from Canna Delaware's Board of Directors approving the
Merger and authorizing the issuances of the shares of Canna Delaware Common
Stock hereto; and

(g) The stockholders
of Acquisition Sub and the stockholders of CPHR shall have approved the
principal terms of this Agreement, the Merger and the transactions contemplated
herein in accordance with applicable law and their respective organizational and
governing documents.

SECTION 12. CANNA DELAWARE'S AND
ACQUISITION SUB'S CONDITIONS TO THE MERGER. The obligations of Canna
Delaware and Acquisition Sub to effect the Merger shall be subject to the
fulfillment at or prior to the Closing Date of the following conditions, unless
waived by Canna Delaware:

(a) Each of the
representations and warranties of CPHR contained in this Agreement shall be true
and correct as of the date of this Agreement and on and as of the Closing Date
as though made on the Closing Date (except that representations and warranties
made as of a specified date need be true and correct only as of the specified
date), except to the extent that any changes, circumstances or events making
such representations and warranties not true or correct would not, individually
or in the aggregate, constitute an Adverse Effect and at the Closing CPHR shall
have delivered to Canna Delaware a certificate to that effect;

(b) CPHR shall have
performed or complied in all material respects with all agreements and covenants
required by this Agreement to be performed or complied with by it on or prior to
the Effective Time and at the Closing CPHR shall have delivered to Canna
Delaware a certificate to that effect;

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(c) From the date of
this Agreement through the Effective Time, there shall not have occurred any
change, circumstance, or event concerning CPHR that has had or could be
reasonably likely to have an Adverse Effect;

(d) CPHR shall have
delivered to Canna Delaware unaudited balance sheets of CPHR as of March 31,
2015, and the related statements of operations, changes in shareholders' equity
and cash flows for the period from inception to March 31, 2015; and

(e) No holder of
CPHR Shares, as of immediately prior to the Effective Time, shall have exercised
or remain entitled to exercise statutory appraisal rights under
Section 7-113-102 of the CBCA with respect to such CPHR Shares.

SECTION 13. INDEMNIFICATION OF
DIRECTORS AND OFFICERS. All rights to indemnification by CPHR existing in
favor of each individual who is an officer or director of CPHR as of the date of
this Agreement (each such individual, an "INDEMNIFIED PERSON") for his acts and
omissions as a director or officer of CPHR occurring prior to the Effective
Time, as provided in CPHR's Articles of Incorporation or Bylaws (as in effect as
of the date of this Agreement) shall survive the Merger and shall continue in
full force and effect (to the fullest extent such rights to indemnification are
available under and are consistent with applicable law) for a period of six
years from the Closing Date.

SECTION 14. CONFIDENTIALITY. Each
Party shall ensure that any nonpublic information provided to it by any other
Party in confidence shall be treated as strictly confidential and that all such
confidential information that each Party or any of its respective officers,
directors, employees, attorneys, agents, investment bankers, or accountants may
now possess or may hereinafter create or obtain relating to the financial
condition, results of operations, businesses, properties, assets, liabilities,
or future prospects of the other such parties, any affiliate thereof, or any
customer or supplier thereof shall not be published, disclosed, or made
accessible by any of them to any other person at any time or used by any of
them, in each case without the prior written consent of the other Party;
provided, however, that the restrictions of this Section 14
shall not apply (a) as may otherwise be required by law, (b) as may be
necessary or appropriate in connection with the enforcement of this Agreement,
or (c) to the extent such information was in the public domain when
received or thereafter enters the public domain other than because of
disclosures by the receiving Party. Each such Party shall, and shall cause all
of such other persons who received confidential information, from time to time
to deliver to the disclosing party all tangible evidence of such confidential
information to which the restrictions of this Section apply upon written
request.

SECTION 15. TERMINATION

(a) This Agreement
may be terminated and abandoned at any time prior to the Effective Time of the
Merger, notwithstanding any approval of this Agreement by the stockholders of
CPHR:

(i) by mutual
written consent of Canna Delaware and CPHR;

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(ii) by either Canna
Delaware or CPHR if any governmental entity shall have issued an order, decree
or ruling or taken any other action permanently enjoining, restraining or
otherwise prohibiting the Merger and such order, decree, ruling or other action
shall have become final and nonappealable;

(iii) by either
Canna Delaware or CPHR, so long as such Party is not in breach hereunder, if the
Merger shall not have been consummated on or before June 30, 2015 (other
than as a result of the failure of the party seeking to terminate this Agreement
to perform its obligations under this Agreement required to be performed at, or
prior to, the Effective Time of the Merger, in which event such party may not
terminate this Agreement pursuant to this provision for a period of ten days
following such party's cure of such failure); provided, however, that if
either Canna Delaware or CPHR requests an extension of the Closing after this
date and the other Party consents in writing, then neither Party may terminate
this Agreement under this provision until the expiration of such extension
period;

(iv) by Canna
Delaware, if there has been a material breach of this Agreement on the part of
CPHR of its obligations hereunder or if any of its representations or warranties
contained herein shall be materially inaccurate and such breach or inaccuracy is
not curable or, if curable, is not cured within ten (10) days after written
notice of such breach is given by Canna Delaware to CPHR; or

(v) by CPHR, if
there has been a material breach of this Agreement on the part of Canna Delaware
of its obligations hereunder or if any of its representations or warranties
contained herein shall be materially inaccurate and such breach or inaccuracy is
not curable or, if curable, is not cured within ten (10) days after written
notice of such breach is given by CPHR to Canna Delaware.

(b) In the event of
termination of this Agreement by either CPHR or Canna Delaware provided in this
Section 15, this Agreement shall forthwith become void and have no effect,
without any liability or obligation on the part of Canna Delaware or CPHR, other
than the provisions of the last sentence of Section 14 and this
Section 15. Nothing contained in this Section 15 shall relieve any
Party for any breach of the representations, warranties, covenants or agreements
set forth in this Agreement.

SECTION 16. DISSENTING SHARES.
Notwithstanding any provision of this Agreement to the contrary, including
Section 3, shares of CPHR common stock issued and outstanding immediately
prior to the Effective Time and held by a holder who has not voted in favor of
adoption of this Agreement or consented thereto in writing and who has properly
exercised appraisal rights of such shares of CPHR common stock in accordance
with Part 2 of Article 113 of the CBCA (such shares being referred to
collectively as the "DISSENTING SHARES" until such time as such holder fails to
perfect or otherwise loses such holder's appraisal rights under the CBCA with
respect to such shares) shall not be converted into a right to receive shares of
Canna Delaware Common Stock, but instead shall be entitled to only such rights
as are granted by Section 7-113-102 of the CBCA; PROVIDED, HOWEVER, that
if, after the Effective Time, such holder fails to perfect, withdraws or loses
such holder's right to appraisal pursuant to Section 7-113-102 of the CBCA
or if a court of competent jurisdiction shall determine that such holder is not
entitled to the relief provided by Section 7-113-102 of the CBCA, such shares of
CPHR common stock shall be treated as if they had been converted

-20-
as of the
Effective Time into the right to receive Canna Delaware Common Stock in
accordance with Section 3, without interest thereon, upon surrender of such
certificates formerly representing such shares pursuant to Section 3 of
this Agreement. CPHR shall provide Canna Delaware prompt written notice of any
demands received by CPHR for appraisal of CPHR common shares, any withdrawal of
any such demand and any other demand, notice or instrument delivered to CPHR
prior to the Effective Time pursuant to the CBCA that relates to such demand,
and Canna Delaware shall have the opportunity and right to direct all
negotiations and proceedings with respect to such demands. Except with the prior
written consent of Canna Delaware, CPHR shall not make any payment with respect
to, or settle or offer to settle, any such demands.

SECTION 17. MISCELLANEOUS.

(a) SURVIVAL.
The representations and warranties of the Parties will terminate at the
Effective Time and only those covenants that by their terms survive the
Effective Time shall survive the Effective Time. This Section 17 shall
survive the Effective Time.

(b) PRESS
RELEASES AND PUBLIC ANNOUNCEMENTS. No Party will issue any press release or
make any public announcement relating to the subject matter of this Agreement
without the prior written approval of the other Parties; provided,
however, that any Party may make any public disclosure it believes in good faith
is required by applicable law or any listing requirement or trading agreement.

(c) NO
THIRD-PARTY BENEFICIARIES. This Agreement will not confer any rights or
remedies upon any person other than the Parties and their respective successors
and permitted assigns.

(d) NOTICES.
All notices required or permitted under this Agreement will be in writing and
will be given by certified or regular mail or by any other reasonable means
(including personal delivery, facsimile, or reputable express courier) to the
Party to receive notice at the following addresses or at such other address as
any Party may, by notice, direct:

	 	 	 
	To Canna Delaware and Acquisition Sub: 	 	
      CannaPharmaRx,
      Inc.
Attn: Chris Schnittker
One Collins Drive,
      Suite 100
Carneys Point, NJ 08069-3640

	With a copy to:
(which will not constitute
      notice) 	 	
      F. Douglas Raymond,
      Esq.
Drinker Biddle & Reath LLP
One Logan Square,
      Suite 2000
Philadelphia, PA 19103-6996
Fax number:
      (215) 988-2757

	To CPHR: 	 	
      CPHR Acquisition
      Corp.
Attn: Michael A. Littman, Esq.
7609 Ralston Road
Arvada, CO
      80002

 

-21-
All notices given by certified mail will
be deemed as given on the delivery date shown on the return mail receipt, and
all notices given in any other manner will be deemed as given when received.

(e) WAIVER.
The rights and remedies of the Parties to this Agreement are cumulative and not
alternative. Neither the failure nor any delay by any Party in exercising any
right, power, or privilege under this Agreement or the documents referred to in
this Agreement will operate as a waiver of such right, power, or privilege, and
no single or partial exercise of any right, power, or privilege will preclude
any other or further exercise of such right, power, or privilege or the exercise
of any other right, power, or privilege. To the maximum extent permitted by
applicable law, (a) no claim or right arising from this Agreement or the
documents referred to in this Agreement can be discharged by one Party, in whole
or in part, by a waiver or renunciation of the claim or right unless in writing
signed by the waiving Party, (b) no waiver that may be given by a Party
will be applicable except in the specific instance for which it is given, and
(c) no notice to or demand on one Party will be deemed to be a waiver of any
obligation of such Party or of the right of the Party giving such notice or
demand to take further action without notice or demand as provided in this
Agreement or the documents referred to in this Agreement.

(f) FURTHER
ASSURANCES. The Parties agree (a) to furnish upon request to each other
such further information, (b) to execute and deliver to each other such
other documents, and (c) to do such other acts and things, all as the other
Parties may reasonably request for the purpose of carrying out the intent of
this Agreement and of the documents referred to in this Agreement.

(g) SUCCESSORS
AND ASSIGNS. This Agreement will be binding upon and inure to the benefit of
the Parties and their respective successors and permitted assigns. No Party may
assign either this Agreement or any of its rights, interests, or obligations
hereunder without the prior written approval of the other Parties, which may be
granted or withheld at the sole discretion of such other Parties. Any
unauthorized assignment is void.

(h) SEVERABILITY. Any provision of this Agreement that is
invalid, illegal or unenforceable in any jurisdiction will, as to that
jurisdiction, be ineffective to the extent of such invalidity, illegality or
unenforceability, without affecting in any way the remaining provisions hereof
in such jurisdiction or rendering that or any other provision of this Agreement
invalid, illegal or unenforceable in any other jurisdiction.

(i) EXPENSES.
Each Party will pay all fees and expenses (including, without limitation, legal
and accounting fees and expenses) incurred by such Party in connection with the
transactions contemplated by this Agreement.

(j) GOVERNING
LAW. This Agreement will be governed by and construed in accordance with the
laws of the State of Delaware, without giving effect to principles of conflicts
of laws.

(k) HEADINGS.
The headings in this Agreement are for reference only and shall not affect the
interpretation of this Agreement.

(l) COUNTERPARTS;
SIGNATURES. This Agreement may be executed in one or more counterparts, each
of which will be deemed to be an original, but all of which will be one and the
same document. Facsimiles and electronic copies in portable document format
("PDF") containing original signatures shall be

-22-

deemed for all purposes to be originally signed copies of the documents that are
the subject of such facsimiles or PDF versions.

(m) ENTIRE
AGREEMENT. This Agreement, the schedules and exhibits hereto, and the
agreements and instruments to be delivered by the Parties on Closing represent
the entire understanding and agreement between the Parties and supersede all
prior oral and written and all contemporaneous oral negotiations, commitments
and understandings.

(n) AMENDMENT. This Agreement may be amended by the
Parties hereto by action taken by or on behalf of their respective Boards of
Directors at any time prior to the Effective Time. This Agreement may not be
amended by the Parties hereto except by execution of an instrument in writing
signed on behalf of each of Canna Delaware, CPHR, and Acquisition Sub.

[SIGNATURE PAGE TO FOLLOW]

-23-
IN WITNESS WHEREOF, the
parties hereto have executed this Agreement and Plan of Merger as of the date
first above written.

CANNAPHARMARX, INC.,
A DELAWARE CORPORATION

By: /s/ Gerry
Crocker
Name: Gerry Crocker
Its: Chief Executive Officer

CPHR ACQUISITION
CORP., A DELAWARE CORPORATION

By: /s/ Gary
Herick
Name: Gary Herick
Its: Chief Executive Officer

CANNAPHARMARX, INC.,
A COLORADO CORPORATION

By: /s/ Gerry
Crocker
Name: Gerry Crocker
Its: Chief Executive Officer
 

-24-

FINAL VERSION

SCHEDULE 1
DEFINITIONS

"ACCREDITED
INVESTORS" has the meaning set forth in Securities Act Rule 501(a).

"ADVERSE EFFECT"
means, with respect to each Party, any effect or change that would have a
material adverse effect on the results of operations, financial condition,
assets, properties or business of the party, taken as a whole, or on the ability
of the Party to consummate timely the transactions contemplated hereby.

"AFFILIATE" has
the meaning set forth in Exchange Act Rule 12b-2.

"ERISA" means the
U.S. Employee Retirement Income Security Act of 1974, as amended, and the rules
and regulations promulgated thereunder.

"EXCHANGE ACT"
means the U.S. Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder.

"GAAP" means U.S.
generally accepted accounting principles as in effect from time to time,
consistently applied.

"KNOWLEDGE" means
the actual knowledge of the executive officers of a Party, without independent
investigation.

"SECURITIES ACT"
means the U.S. Securities Act of 1933, as amended, and the rules and regulations
promulgated thereunder.

"SEC" means the
Securities and Exchange Commission.

CANNA DELAWARE SCHEDULE

This document and the
attachments hereto (each of which is incorporated by reference herein)
constitute the "CANNA DELAWARE SCHEDULE" referred to in that certain Amended and
Restated Agreement and Plan of Merger (the "AGREEMENT") by and among
CannaPharmaRx, Inc., a Delaware corporation (the "CANNA DELAWARE"),
CannaPharmaRX, Inc., a Colorado corporation ("CPHR") and CPHR Acquisition Corp.,
a Delaware corporation and a wholly-owned subsidiary of Canna Delaware
("ACQUISITION SUB"), dated as of April 20, 2015. All capitalized terms used
but not herein defined shall have the respective meanings given to them in the
Agreement.

Disclosures in this Canna
Delaware Schedule are made referencing the specific section of the Agreement to
which the information stated in such disclosures relates, provided that any
matters disclosed in any particular section of this Canna Delaware Schedule
shall be deemed to have been disclosed in any other section of this Canna
Delaware Schedule to the extent that the applicability of such matter to such
other section of this Canna Delaware Schedule is reasonably apparent on its
face. Section headings contained in this Canna Delaware Schedule are for the
convenience of the parties only and shall not affect in any way the meaning or
interpretation of this Canna Delaware Schedule.

This Canna Delaware
Schedule and all descriptions of documents contained herein are qualified in
their entirety by reference to the documents so delivered. Matters reflected
herein may not necessarily be limited to matters strictly required by the
Agreement to be reflected in this Canna Delaware Schedule. To the extent that
any such additional matters are included, they are included solely for
informational purposes, and shall not be deemed in any way to expand any of the
information required to be disclosed in this Canna Delaware Schedule or under
the Agreement or to imply that such matters or other information with respect to
similar matters must be disclosed.

The inclusion of any
document or other item in this Canna Delaware Schedule shall not constitute an
admission by Canna Delaware that such document or other item is material or that
a violation, right of termination, consent requirement, default, liability or
contractual obligation of any kind exists with respect to such document or item.
This Canna Delaware Schedule is qualified in its entirety by reference to the
specific provisions of the Agreement and the representations and warranties to
which the disclosures herein pertain and are not intended to constitute, and
shall not be construed as constituting, any separate representations or
warranties of Canna Delaware, except as and to the extent expressly provided in
this Canna Delaware Schedule or the Agreement.

Section 7(b)(iii)
Outstanding Options,
Warrants or Other Rights

(A)

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Options	 	Options Granted	 	Grant Date	 	Expiration Date	 	Exercise Price ($)
	
      Gerry Crocker
	 	 	750,000	 	 	 	11/1/14	 	 	 	11/1/24	 	 	 	3.78	 
	
       
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
      Gary Herick
	 	 	750,000	 	 	 	11/1/14	 	 	 	11/1/24	 	 	 	3.78	 
	
       
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
      James Smeeding
	 	 	750,000	 	 	 	11/1/14	 	 	 	11/1/24	 	 	 	3.78	 
	
       
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
      Mathew
Sherwood
	 	 	750,000	 	 	 	11/1/14	 	 	 	11/1/24	 	 	 	3.78	 
	
       
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
      Gary Gemian
	 	 	150,000	 	 	 	11/1/14	 	 	 	11/1/24	 	 	 	3.78	 
	
       
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
      James Sykes
	 	 	450,000	 	 	 	11/1/14	 	 	 	11/1/24	 	 	 	3.78	 
	
       
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
      Thomas Della
      Franco
	 	 	100,000	 	 	 	2/2/15	 	 	 	2/2/25	 	 	 	3.10	 
	
       
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
      Christopher
      Schnittker
	 	 	450,000	 	 	 	2/9/15	 	 	 	2/9/25	 	 	 	3.10	 
	
       
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
      Bridamary
    Rosario
	 	 	25,000	 	 	 	2/11/15	 	 	 	2/11/25	 	 	 	2.50	 
	
       
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
      David Pohl
	 	 	50,000	 	 	 	2/27/15	 	 	 	2/27/25	 	 	 	2.60	 
	
       
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
      Wendy DiCicco
	 	 	50,000	 	 	 	2/27/15	 	 	 	2/27/25	 	 	 	2.60	 
	
       
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
      Alex Giaquinto
	 	 	50,000	 	 	 	4/1/15	 	 	 	4/1/25	 	 	 	2.85	 
	
       
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
      Steven Rule
	 	 	50,000	 	 	 	4/1/15	 	 	 	4/1/25	 	 	 	2.85	 
	
       
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
      Elie Khalife
	 	 	50,000	 	 	 	4/1/15	 	 	 	4/1/25	 	 	 	2.85	 
	
       
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

(B) None. 

(C)

	 	1.	 	Viridian Capital & Research, LLC ("VCR") received a Warrant (the
      "WARRANT") that is exercisable into 244,283 of Canna Delaware's
      fully-diluted common shares at an exercise price equal to the price per
      share of Canna Delaware's common stock on the 10 days preceding
      January 20, 2015 or $2.90. The Warrant has a 3-year life, a cashless
      exercise provision and is fully transferable with Canna Delaware approval,
      which shall not be unreasonably withheld. The Warrant is callable on
      60 days' notice if (i) Canna Delaware's common stock trades on
      the NASDAQ and (ii) Canna Delaware's common stock trades at three
      times the exercise price of the Warrant for 20 consecutive trading
  days.

	 	2.	 	VCR also received a Warrant (the "SECOND WARRANT") that is exercisable
      into 244,283 of Canna Delaware's fully-diluted common shares at an
      exercise price equal to the price per share of Canna Delaware's common
      stock on the 10 days preceding February 23, 2015 or $2.50. The
      Second Warrant has a 3-year life, a cashless exercise provision and is
      fully transferable with Canna Delaware approval, which shall not be
      unreasonably withheld. The Second Warrant is callable on 60 days' notice
      if (i) Canna Delaware's common stock trades on the NASDAQ and (ii)
      Canna Delaware's common stock trades at three times the exercise price of
      the Second Warrant for 20 consecutive trading days.

	 	3.	 	VCR will receive additional Warrants (the "ADDITIONAL WARRANTS") that
      are exercisable into one percent (1.0%) of Canna Delaware's fully-diluted
      common
                  shares,
      for each $5 million in capital raised up to a total of
      $15 million, at an exercise price equal to the price per share of
      Canna Delaware's common stock on the 10 days preceding
      February 23, 2015 or $2.50. The Additional Warrants have a 3-year
      life, a cashless exercise provision and are fully transferable with Canna
      Delaware approval, which shall not be unreasonably withheld. The Warrants
      are callable on 60 days' notice if (i) Canna Delaware's common
      stock trades on the NASDAQ and (ii) Canna Delaware's common stock
      trades at three times the exercise price of the Warrant for 20 consecutive
      trading days.

Section 7(c)
Subsidiaries of Canna
Delaware

None.

Section 7(g)
Litigation

1. Kathleen Wolff ("WOLFF") is an
ex-consultant of Canna Delaware who resigned in December
2014. She has
threatened to sue Canna Delaware for severance and stock vesting due to
constructive
termination. However, Wolff has not yet filed
suit.
Section 7(h)

Tax Matters

None.

Section 7(q)(i)
SEC Filings

None.

CPHR SCHEDULE

SCHEDULE 6(B)(III)
OPTIONS,
WARRANTS, OTHER RIGHTS, DEBT SECURITIES OR COMMITMENTS

None
SCHEDULE 6(F)
LITIGATION

None
 
SCHEDULE 6(G)
INSURANCE

None
 
SCHEDULE 6(I)
INTANGIBLE
PROPERTY

None

SCHEDULE 6(J)
REAL PROPERTY

None

SCHEDULE 6(K)
TAX MATTERS

None

SCHEDULE 6(K)
MATERIAL CONTRACTS
AND AGREEMENTS

	 	1.	 	Catalyst Agency

	 	2.	 	FSX/Interlinked

SCHEDULE 6(O)
EMPLOYEE BENEFIT
PLANS

Nonetsqclassbstockcertificat

A   B   n   o   te      N   o   rt   h   A   m   er   ic   a   71   1   A   R   M   ST   R   O   N   G      LA   N   E   CO   LU   M   B   IA   ,   TE   N   N   ES   SE   E   38   40   1   (93   1)   38   8-   30   03   SA   LE   S:      H   O   LL   Y    G   R   O   N   ER                  93   1-   49   0-   76   60   PR   O   O   F   O   F:      JU   LY      23   ,      20   14   TO   W   N   Sq   UA   R   E   M   ED   IA   ,   IN   C.   W   O   -      88   02      LO   T   2   FA   CE   O   PE   R   AT   O   R   : D   KS   /M   R   N   EW   N   O   TE   :   TE   XT      R   EC   EI   VE   D      B   Y   M   O   D   EM      O   R      E-   M   A   IL      IS      N   O   T   PR   O   O   FR   EA   D      W   O   R   D      FO   R      W   O   R   D   .   Co   lo   rs      Se   le   ct   ed      fo   r   Pr   in   tin   g:   In   ta   gl   io      pr   in   ts      in      SC   -   7   D   ar   k   B   lu   e.   PL   EA   SE      IN   IT   IA   L   TH   E   A   PP   R   O   PR   IA   TE      SE   LE   CT   IO   N      FO   R      TH   IS      PR   O   O   F:      O   K      A   S   IS   O   K      W   IT   H      CH   A   N   G   ES   M   A   K   E   CH   A   N   G   ES      A   N   D      SE   N   D      A   N   O   TH   ER      PR   O   O   F   CO   LO   R:      Th   is      pr   o   o   f w   as      pr   in   te   d   fro   m      a   di   gi   ta   l fi   le      o   r   ar   tw   o   rk      o   n      a   gr   ap   hi   cs      qu   al   ity   ,   co   lo   r   la   se   r   pr   in   te   r.   It   is      a   go   o   d   re   pr   es   en   ta   tio   n      o   f t   he      co   lo   r   as      it   w   ill   ap   pe   ar      o   n      th   e   fin   al      pr   o   du   ct   .   Ho   w   ev   er   ,   it   is      n   o   t a   n      ex   ac   t c   o   lo   r   re   n   di   tio   n   ,   an   d   th   e   fin   al      pr   in   te   d   pr   o   du   ct      m   ay      ap   pe   ar      sl   ig   ht   ly      di   ffe   re   n   t f   ro   m      th   e   pr   o   o   f d   u   e   to      th   e   di   ffe   re   n   ce      be   tw   ee   n      th   e   dy   es      an   d   pr   in   tin   g   in   k.   TB   THIS CERTIFIES THAT   IS THE RECORD HOLDER OF   FULLY PAID AND NON-ASSESSABLE SHARES OF THE CLASS B COMMON STOCK, $0.01 PAR VALUE PER SHARE, OF   CO   U   N   TERSIG   N   ED    AN   D    R   EG   ISTER   ED   :   A   M   ER   IC   A   N    STO   C   K    TR   A   NSFER    &    TRUST    CO   M   PA   N   Y   ,    LLC   (B   ro   oklyn   ,    N   Y)   TR   ANSFER    AG   EN   T    AN   D    R   EG   ISTR   AR   By   AU   THO   R   IZED    SIG   N   ATU   R   E   Townsquare Media, Inc.   Dated:   SEE REVERSE FOR CERTAIN DEFINITIONS   CUSIP 892231 10 1INCORPORATED UNDER THE LAWS   OF THE STATE OF DELAWARE   transferable on the books of the Corporation in person or by duly authorized attorney upon surrender of this Certificate, properly   endorsed. This Certificate is not valid until countersigned by the Transfer Agent and registered by the Registrar.   WITNESS the facsimile seal of the Corporation and the facsimile signatures of its duly authorized officers.   CLASS B COMMON STOCK   DELAWARE   SEAL   CO   RPORATE   TO   WN   SQ   UARE MEDIA, I NC.   CHAIRMAN AND CHIEF EXECUTIVE OFFICEREXECUTIVE VICE PRESIDENT, CHIEF FINANCIAL   OFFICER AND SECRETARY   Townsquare Media, Inc.    

 

A   B   n   o   te      N   o   rt   h   A   m   er   ic   a   71   1   A   R   M   ST   RO   N   G      LA   N   E   CO   LU   M   B   IA   ,   TE   N   N   ES   SE   E   38   40   1   (93   1)   38   8-   30   03   H   O   LL   Y   G   RO   N   ER   93   1-   49   0-   76   60   PR   O   O   F   O   F:      JU   LY      23   ,      20   14   TO   W   N   SQ   UA   R   E   M   ED   IA   ,   IN   C.   W   O   -      88   02      BA   CK         -         LO   T   2   O   PE   R   AT   O   R   :   D   KS   /M   R   N   EW   PL   EA   SE      IN   IT   IA   L   TH   E   A   PP   RO   PR   IA   TE      SE   LE   CT   IO   N      FO   R      TH   IS      PR   O   O   F:      O   K      A   S   IS   O   K      W   IT   H      CH   A   N   G   ES   M   A   K   E   CH   A   N   G   ES      A   N   D      SE   N   D      A   N   OT   H   ER      PR   O   O   F   UN   IF      G   IF   T   M   IN      AC   T–                                                                  Cu   st   o   di   a   n                                                               (C   u   st   )                                                                                                                   (M   in   o   r)   u   n   de   r   Un   ifo   rm      G   ift   s   to      M   in   o   rs   Ac   t                                                 (S   ta   te   )   Th   e      fo   llo   w   in   g   a   bb   re   vi   a   tio   n   s,      w   he   n      u   se   d   in      th   e      in   sc   rip   tio   n      o   n      th   e      fa   ce      o   f t   hi   s   ce   rti   fic   a   te   ,      sh   a   ll   be      co   n   st   ru   e   d   a   s   th   o   u   gh      th   ey      w   e   re   w   rit   te   n      o   u   t i   n      fu   ll   a   cc   o   rd   in   g   to      a   pp   lic   a   bl   e      la   w   s   o   r   re   gu   la   tio   n   s:   TE   N      CO   M   TE   N      EN   T   JT      TE   N   a   s   te   n   a   n   ts      in      co   m   m   o   n   a   s   te   n   a   n   ts      by      th   e      e   n   tir   e   tie   s   a   s   joi   n   t t   e   n   a   n   ts      w   ith      rig   ht      o   f s   u   rv   ivo   rs   hi   p   a   n   d   n   o   t a   s   te   n   a   n   ts      in      co   m   m   o   n   Ad   di   tio   n   a   l a   bb   re   vi   a   tio   n   s   m   ay      a   ls   o      be      u   se   d   th   o   u   gh      n   o   t i   n      th   e      a   bo   ve      lis   t.   – – –   o   f t   he      CL   AS   S   B   co   m   m   o   n      st   o   ck      re   pr   e   se   n   te   d   by      th   e      w   ith   in      Ce   rti   fic   a   te   ,      a   n   d   do      he   re   by      irr   ev   o   ca   bl   y   co   n   st   itu   te      a   n   d   a   pp   o   in   t   to      tra   n   sf   e   r   th   e      sa   id      st   o   ck      o   n      th   e      bo   o   ks      o   f t   he      w   ith   in      n   a   m   e   d   Co   rp   o   ra   tio   n      w   ith      fu   ll   po   w   e   r   o   f s   u   bs   tit   u   tio   n      in      th   e      pr   e   m   is   e   s.   D   a   te   d   Fo   r   va   lu   e      re   ce   ive   d,      he   re   by      se   ll,      a   ss   ig   n      a   n   d   tra   n   sf   e   r   u   n   to   PL   EA   SE      IN   SE   RT      SO   CI   AL      SE   CU   R   IT   Y   O   R      OT   H   ER   ID   EN   TI   FY   IN   G      N   UM   BE   R      O   F   AS   SI   G   N   EE   Sh   a   re   s   At   to   rn   ey   PL   EA   SE      PR   IN   T   O   R      TY   PE   W   R   IT   E   N   AM   E   AN   D      AD   D   R   ES   S   IN   CL   UD   IN   G      ZI   P   CO   D   E   O   F   AS   SI   G   N   EE   SI   G   N   AT   UR   E(   S)      G   UA   R   A   N   TE   ED   :   TH   E   SI   G   N   AT   UR   E(   S)      M   US   T   BE      G   UA   R   AN   TE   ED      BY      AN      EL   IG   IB   LE      G   UA   R   AN   TO   R   IN   ST   IT   UT   IO   N      (B   AN   KS   ,      ST   O   CK   BR   O   KE   R   S,      SA   VI   N   G   S   AN   D      LO   AN      AS   SO   CI   AT   IO   N   S   AN   D      CR   ED   IT      UN   IO   N   S   W   IT   H      M   EM   BE   R   SH   IP      IN      AN      AP   PR   OV   ED      SI   G   N   AT   UR   E   G   UA   R   AN   TE   E   M   ED   AL   LI   O   N      PR   O   G   R   AM   ), P   UR   SU   AN   T   TO      S.   E.   C.      RU   LE      17   Ad   -   15   .   TH   E   SI   G   N   AT   UR   E   TO      TH   IS      AS   SI   G   N   M   EN   T   M   US   T   CO   R   R   ES   PO   N   D   W   IT   H      TH   E   N   AM   E   AS      W   R   IT   TE   N      U   PO   N      TH   E   FA   CE      O   F   TH   E    CE   RT   IF   IC   AT   E,      IN      EV   ER   Y   PA   RT   IC   UL   AR   ,      W   IT   H   O   UT      AL   TE   R   AT   IO   N      O   R   EN   LA   R   G   EM   EN   T,      O   R      AN   Y   CH   AN   G   E   W   H   AT   SO   EV   ER   .   N   OT   IC   E:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00246-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00246-of-00352.parquet"}]]