Document:

vkin_ex107.htm

EXHIBIT 10.7

 

ACKNOWLEDGEMENT & AGREEMENT

 

RECITALS:

 

	
 
	A.	On or about April 14th, 2016 Viking Investments Group, Inc. (“Viking”) entered into a Purchase, Sale and Capital Contribution Agreement (the “EGO Agreement”) with Euramerica Gas & Oil Corp. (“EGO”), pursuant to which Viking agreed to purchase, free and clear of all encumbrances, EGO’s entire working interest in the following oil & gas leases in Eastern Kansas: (i) ABC; (ii) Wilson A; and (iii) Griffith (collectively, the “EGO WI’s”). In exchange for the aforementioned working interests Viking agreed to pay EGO $460,000 in cash (the “Cash Component”), and issue EGO 2,400,000 common shares in the capital stock of Viking (the “Stock Component”).
	
 
	
 
	
 

	
 
	B.	Viking’s obligations under the EGO Agreement were conditional upon Viking obtaining financing to complete the transaction.
	
 
	
 
	
 

	
 
	C.	The closing date of the transaction was scheduled initially for May 15th, 2016. By mutual agreement, the parties extended the closing date to May 31st, 2016 and then to June 15th, 2016 as a result of Viking being unable to secure satisfactory financing by such dates.
	
 
	
 
	
 

	
 
	D.	EGO is willing to extend the closing date to July 1st, 2016 subject to the terms of this Agreement.
	
 
	
 
	
 

	
 
	E.	In the event Viking cannot pay the Cash Component to EGO on or before July 1st, 2016, Global Equity Funding, LLC (“Global”) and Coal Creek Energy, LLC (“Coal Creek”) are willing to pay the Cash Component to EGO subject to the terms of this Agreement.

  

AGREEMENT:

 

FOR VALUE RECEIVED, the parties agree as follows:

 

	1.	Recitals. The recitals above are true and correct and hereby form an integral part of this Agreement.
	
 
	
 

	2.	Extension. Viking and EGO hereby agree to extend the closing date of the EGO Agreement to July 1st, 2016.
	
 
	
 

	3.	Closing. In the event Viking is unable to pay the Cash Component to EGO on the Closing Date, Global and Coal Creek shall pay such amount to EGO on such date. Concurrent with and subject to such payment by Global and/or Coal Creek, Viking shall issue the Stock Component to EGO. If none of Viking, Global or Coal Creek pay the Cash Component to EGO as aforesaid, all agreements amongst any of the parties concerning the EGO WI’s shall be at an end, and EGO shall be free to sell the EGO WI’s to any other party.
	
 
	
 

	4.	Title To WI’s. If Viking pays the Cash Component along with the issue of the stocks in the name of EGO, EGO shall forthwith execute and deliver an Assignment Agreement transferring title to the EGO WI’s to Viking, or a subsidiary of Viking if so directed, free and clear of all encumbrances. If Global and/or Coal Creek pays the Cash Component to EGO, EGO shall forthwith execute and deliver an Assignment Agreement transferring title to the EGO WI’s to Global or Coal Creek, as applicable, free and clear of all encumbrances.

 

 

Agreement – Viking / Euramerica / Global / Coal Creek

	 
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	5.	Option to Purchase. If Global and/or Coal Creek pay the Cash Component to EGO and Viking issues the stocks in the name of EGO, Global and Coal Creek will receive title to the EGO WI’s as per sections 3 and 4 herein, the parties hereby agree as follows:

 

	
 
	a.	Each of Global and Coal Creek hereby grant to Viking the option to purchase from Global and Coal Creek all, but not less than all, of the EGO WI’s. The purchase price to be paid by Viking for the EGO WI’s shall be equal to $506,000 (the “New EGO WI Price”).
	
 
	
 
	
 

	
 
	b.	This option granted above must be exercised by Viking within sixty (60) days from the date Global and/or Coal Creek pay the Cash Component to EGO.
	
 
	
 
	
 

	
 
	c.	Concurrent with Viking purchasing the EGO WI’s from Global and Coal Creek Viking shall also purchase from Global, Global’s working interest (collectively, the “Global WI’s”) in the following leases in Eastern Kansas: (i) Elam/Hahn (minimum 25% working interest); (ii) Wilson A. (East Wilson) (minimum 15% working interest); and (ii) L. Wilson (West Wilson) (minimum 12% working interest), on the terms and conditions agreed to by Global and Viking.
	
 
	
 
	
 

	
 
	d.	During the Option Period, neither Global nor Coal Creek shall sell, offer for sale or entertain any offers to sell, the EGO WI’s, in whole or in part.
	
 
	
 
	
 

	
 
	e.	Upon payment by Viking of the New EGO WI price and the price to be paid by Viking to Global in connection with subparagraph 5 (c) above, Global and/or Coal Creek shall forthwith execute and deliver one or more Assignment Agreements transferring title to the EGO WI’s and Global WI’s to Viking, or a subsidiary of Viking if so directed, free and clear of all encumbrances.

 

	6.	Other Documents. The parties agree to promptly execute and deliver all such documents and take all such action reasonably necessary or appropriate to give effect to the provisions and intent of this Agreement.
	
 
	
 

	7.	Enurement. This Agreement shall be binding upon and enure to the benefit of the parties hereto and their respective successors and permitted assigns.
	
 
	
 

	8.	Governing Law. This Agreement shall be governed by, construed and enforced in accordance with the laws of Kansas. The venue of any action shall be in Miami County, Kansas.

 

 

Agreement – Viking / Euramerica / Global / Coal Creek

	 
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DATED effective this 20th day of June, 2016.

 

	 	VIKING INVESTMENTS GROUP, INC.	
	 	 	 	 
			/s/ James A. Doris	
	
 
	
Name:
	James A. Doris	 
	 	Title:	President & C.E.O.	 
	 	 	  	 
	
 
	
 
	
  
	
 

	
 
	
EURAMERICA GAS & OIL CORP.
	
 

	
 
	
 
	
  
	
 

	
 
	
 
	
/s/ Claudio Coltellini
	
 

	
 
	
Name: 
	
Claudio Coltellini
	
 

	
 
	
Title: 
	
C.E.O.
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
GLOBAL EQUITY FUNDING, LLC
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
/s/ H. M. Burstein
	
 

	
 
	
Name: 
	
H. M. Burstein
	
 

	
 
	
Title: 
	
President
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
COAL CREEK ENERGY, LLC
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
/s/ John Loeffelbein
	
 

	
 
	
Name: 
	
John Loeffelbein
	
 

	
 
	
Title: 
	
President
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

 

 

Agreement – Viking / Euramerica / Global / Coal Creek

 

	
3EXHIBIT 10.18

 

ROSETTA
GENOMICS LTD.

 

WAIVER

 

May 8, 2017

 

This Waiver is made
by and among Rosetta Genomics Ltd, an Israeli corporation (the “Company”), and each Purchaser that is a party
to (i) that certain Securities Purchase Agreement, dated November 23, 2016, by and between the Company and each such Purchaser
(the “Purchase Agreement”) and (ii) that certain Registration Rights Agreement, dated November 23, 2016, by
and between the Company and each such Purchaser (the “RRA”). Capitalized terms used but not defined herein shall
have the meanings ascribed to them in the Purchase Agreement or the RRA, as applicable.

 

WHEREAS, Section 4.11
of the Purchase Agreement prohibits the Company from proposing the issuance of Common Stock or Common Stock Equivalents;

 

WHEREAS, the Company
wishes to file a primary registration statement for $7,500,000 of units comprised of Common Stock and warrants with the Commission
on Form F-1, which registration statement is to be filed on or before May 8, 2017 (“Registration Statement”);

 

WHEREAS, the undersigned
is willing to waive the prohibition set forth in Section 4.11 with respect to the Registration Statement provided that the undersigned
is granted an exchange right in any future offering of the Company;

 

NOW, THEREFORE, in
consideration of the premises and the mutual covenants and agreements herein contained, the parties hereby agree as follows:

 

		1.	In connection with the filing of the Registration Statement, pursuant to Section 5.5 of the Purchase
Agreement, the undersigned hereby waives the prohibition on the Company filing the Registration Statement. This waiver relates
solely to filing of the Registration Statement and the offering contemplated thereby and does not waive any restriction on other
offering of securities by the Company.

 

		2.	In consideration for this Waiver, from the date hereof until the date when the undersigned no longer
holds any Debentures, if the Company effects a Subsequent Financing, the undersigned may elect, in its sole discretion, to exchange
(in lieu of cash subscription payments) all or some of the Debenture then held by the undersigned for any securities or units issued
in a Subsequent Financing (“Subsequent Securities”) on a $1.00 for $1.00 basis based on the outstanding principal
amount of such Debenture (“MFN Right”); provided, however, that this right shall not apply with
respect to an Exempt Issuance. The Company shall provide each Purchaser with notice of any such Subsequent Financing in the manner
set forth in Section 4.10 of the Purchase Agreement. In the event the exchange would cause the undersigned’s beneficial ownership
interest to exceed 4.9% of the issued and outstanding shares of Common Stock, then in lieu of an exchange, the terms of the Debenture,
as a condition to such Subsequent Financing, shall be amended such that the terms are as favorable to the Purchaser as the terms
of the Subsequent Financing. Additionally, in such Subsequent Financing if there are any contractual provisions or side letters
that provide terms more favorable to the investors than the terms provided for hereunder, then the terms provided hereunder shall
be amended such that the undersigned’s rights hereunder are as favorable to the undersigned as the terms of the Subsequent
Financing.

 

     

     

    

 

		3.	Notwithstanding anything herein to the contrary, in the event that the undersigned exercises its
MFN Right with respect of a Subsequent Financing and, at the time of the Subsequent Financing, the Company does not have a sufficient
number of authorized and unreserved shares of Common Stock for the issuance in full of the Subsequent Securities (including upon
conversion or exercise thereof), including the securities issuable as a result of the MFN Right (but excluding any shares underlying
warrants or options which shall be restricted from exercise before any other Subsequent Securities ratably), then the undersigned
agrees that, with respect to any Subsequent Securities (including shares issuable upon exercise or conversion thereof) issuable
to the undersigned solely pursuant to its exercise of the MFN Right, the undersigned shall only be allocated a reserve amount of
Common Stock equal to the number of shares of Common Stock then reserved pursuant to the Purchase Agreement for the Debentures
surrendered pursuant to the MFN Right (provided that this provisions shall be in addition to, and shall not limit, any purchases
of Subsequent Securities for cash and not pursuant to the MFN Right). As soon as practicable after the closing of the Subsequent
Financing, but in no event later than ninety (90) days following the date hereof, the Company shall hold a meeting of its stockholders
for the approval of an increase in the number of authorized shares of Common Stock (“Authorization Deadline”).
After the Authorization Deadline, in the event that the Company is prohibited from issuing shares of Common Stock upon conversion
or exercise of the Subsequent Securities due to the failure by the Company to have sufficient shares of Common Stock available
out of the authorized but unissued shares of Common Stock (such unavailable number of shares of Common Stock, the “Authorization
Failure Shares”), upon tender of a Notice of Conversion for such Authorization Failure Shares, in lieu of delivering
such Authorization Failure Shares to the Holder, the Company shall pay cash (as promptly as possible, and in any event within one
Trading Day of the applicable Notice of Conversion) in exchange for the cancellation of such portion of the Subsequent Securities,
otherwise convertible or exercisable into such Authorization Failure Shares at a price equal to the greater of (a) the principal
amount (and interest as applicable) subject to such Notice of Conversion into such Authorization Failure Shares and (b) sum of
the product of (x) such number of Authorization Failure Shares and (y) the highest VWAP of the Common Stock during the period commencing
on 2nd Trading Day immediately prior to the date the undersigned delivers the applicable Notice of Exercise with respect
to such Authorization Failure Shares to the Company and ending on the date of such payment under this Section 3.

 

		4.	This Waiver may be executed in any number of counterparts, each of which shall be deemed an original
but all of which taken together shall constitute one and the same instrument. This Waiver shall only be effective upon receipt
of waivers from the requisite number of Purchasers required pursuant to Section 5.5 of the Purchase Agreement. Except as expressly
set forth above, all of the other terms and conditions of the Transaction Documents shall continue in full force and effect after
the execution of this Waiver and shall not be in any way changed, modified or superseded by the terms set forth herein, including,
but not limited to, any other obligations the Company may have to the undersigned under the Transaction Documents.

 

[SIGNATURE PAGES TO FOLLOW]

 

     

     

    

 

The undersigned hereby executes this Waiver
as of the date first set forth above.

 

 

COMPANY:

 

ROSETTA GENOMICS LTD.

 

 

/s/ Ron Kalfus 

Kenneth A Berlin

Chief Executive Officer

 

 

 

 

 

 Undersigned:

 

Name of Purchaser: Sabby Healthcare
Master Fund, Ltd.

Name of Signatory: Sabby Volatility
Warrant Master Fund, Ltd.

Title of Signatory: Robert
Grundstein, COO of Investment Management

Signature of Signatory: /s/
Robert Grundstein

 

 

 

Signature
page to Waiver

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