Document:

Exhibit 10.2

 

This Agreement dated for reference October 27, 2021.

 

BETWEEN:

 

SANTE VERITAS THERAPEUTICS INC.,

a British Columbia corporation having
a

registered office at Suite 2400,
745 Thurlow Street,

Vancouver, British Columbia

 

(the “Vendor”)

 

AND:

 

1120419 B.C. LTD.

a British Columbia corporation having
a

registered office at 4520 Franklin Avenue,

Powell River, British Columbia

 

(the “Purchaser”)

 

RECITALS:

 

		A.	The Vendor is the owner of
certain tangible and intangible assets which relate to, or are used or held for use in connection the operation of a cannabis growing
facility (the "Business") located in Powell River, British Columbia.

 

		B.	The Vendor has agreed to
sell to the Purchaser, and the Purchaser has agreed to  purchase from the Vendor, the aforesaid assets on the terms and conditions
contained herein.

 

THEREFORE, in consideration of the covenants and
agreements herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto agree as follows, the parties agree as follows:

 

1.              PURCHASE
AND SALE

 

Upon the terms and
subject to the conditions of this Agreement, the Vendor agrees to sell, assign and transfer to the Purchaser, and the Purchaser agrees
to purchase from the Vendor, as of October 27, 2021 (the “Closing Date”) all legal and beneficial right, title
and interest in the tangible and intangible assets, including chattels, equipment, furnishings, leasehold improvements, machinery, supplies,
plans, licensing information which relate to, or are used or held for use in connection with the Business and are presently located on
the premises at 6270 Yew Street, Powell River, B.C. all of which are more particularly described in Schedule A to this Agreement (collectively,
the “Purchased Assets”).

 

2.              PURCHASED ASSETS
 "AS IS WHERE IS"

 

Subject to the express representations made by
the Vendor herein, the Purchased Assets are conveyed by the Vendor to the Purchaser “as is” and “where is”, with
no representations or warranties as to merchantability, condition or fitness for use.

 

     

     

    

 

3.              PURCHASE
PRICE AND PAYMENT

 

Subject to the provisions herein, the purchase
price for the Purchased Assets is $900,000.00 (the "Purchase Price"), and shall be paid and satisfied as follows:

 

		(a)	$75,000.00 by lawyer’s trust cheque delivered to the Vendor’s lawyers on the Closing Date;
and

 

		(b)	the balance of the purchase price by the forgiveness and release from liability those amounts claimed
to be owed by the Vendor to the Purchaser and other contractors as more particularly described in Schedule B to this Agreement (collectively,
the “Existing Liabilities”);

 

4.              ALLOCATION
OF PURCHASE PRICE

 

The Purchase Price
shall be allocated among the Purchased Assets for all purposes (including tax and financial accounting) as shown on the allocation schedule
set forth on Schedule C to this Agreement (the “Allocation Schedule”). The Allocation Schedule shall be prepared
in accordance with applicable law. Purchaser and Vendor shall file all returns, declarations, reports, information returns and statements
and other documents relating to taxes (including amended returns and claims for refund) in a manner consistent with the Allocation Schedule.

 

5.              SOCIAL
SERVICES TAX / GOODS AND SERVICES TAX

 

The Purchaser will be liable for and shall pay
all provincial sales taxes, registration charges and transfer fees properly payable upon and in connection with the sale and transfer
of the Purchased Assets by the Vendor to the Purchaser (the "Transfer Taxes"), including all applicable goods and services
tax imposed under Part IX of the Excise Tax Act (Canada) and any applicable provincial sales tax imposed under the Provincial
Sales Tax Act (British Columbia). Subject to Section 6(b), the Purchaser shall pay the applicable GST and PST to Vendor on Closing
concurrent with the payment of the Purchase Price.

 

6.              TAX
ELECTIONS

 

The Vendor and the Purchaser agree:

 

	(a)	to jointly elect in the prescribed manner and at the prescribed time in their returns pursuant subsection
13(4.2) of the Income Tax Act (Canada), and the corresponding provisions of applicable provincial legislation, to have such provisions
apply in respect of the purchase and sale of the Purchased Assets; and

 

	(b)	at closing, to make the elections provided for by s. 167 of the Excise
Tax Act.

 

7.              COVENANT
TO PAY TRANSFER TAXES

 

The Purchaser agrees
to promptly pay all Transfer Taxes, or other taxes, duties, claims or charges imposed on and/or related to the sale of the Purchased
Assets to the Purchaser under this Agreement by any tax authority or other governmental agency and to defend, indemnify and hold the Vendor
harmless from and against any such taxes, duties, claims, or charges and any penalties and interest charged thereon for payment thereof
by any tax authority or other governmental agency. To the extent that a payment made hereunder is deemed to be inclusive of GST or similar
taxes pursuant to section 182 of the ETA or similar legislation to be inclusive of GST or a similar tax, the amount payable shall be grossed
up accordingly. Purchaser is registered under subdivision d of Division V of Part IX of the Excise Tax Act (Canada) with registration
number 711862920 RT0001. The Purchaser shall self-assess and remit the applicable GST imposed under Part IX of the Excise Tax
Act (Canada) (the “ETA”), in respect of the real property Purchased Assets, to the Receiver General of Canada as
required by subsection 228(4) of the ETA. The Vendor will, by virtue of paragraph 221(2)(b) of the ETA, not be required to collect
GST from the Purchaser in respect of the real property Purchased Assets.

 

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8.              INDEMNIFICATIONS

 

The Purchaser agrees to defend, indemnify and
hold harmless Vendor, any parent, subsidiary or affiliate of Vendor, including TILT Holdings Inc. (“TILT”), and any director,
officer, employee, stockholder, agent or attorney of Vendor or of any parent, subsidiary or affiliate of Seller, including TILT, from
and against and in respect of any Loss which arises out of or results from:

 

	(a)	any breach by Purchaser of any covenant, or the inaccuracy or untruth of any representation or
  warranty of Purchaser made herein;

 

	(b)	the use of the Purchased Assets after the Closing;

 

	(c)	applicable Transfer Taxes and any interest and penalties charged thereon, assessed against Vendor by
  any governmental authority if such Transfer Taxes should have been payable by the Purchaser or as a result of the Vendor failing
  to collect or the Purchaser failing to pay or remit any Transfer Taxes.

 

The Vendor agrees to defend, indemnify and hold
harmless the Purchaser, any parent, subsidiary or affiliate of the Purchaser, and any director, officer, employee, agent or attorney of
the Purchaser or of any parent, subsidiary or affiliate of the Purchaser (collectively, the “Vendor Indemnitees”) from and
against and in respect of any Loss which arises out of or results from:

 

	(a)	any breach by the Vendor of any covenant, or the inaccuracy or untruth of any representation or
  warranty of the Vendor made herein; and

 

	(b)	any applicable Transfer Taxes and any interest and penalties charged thereon, assessed against
  the Purchaser by any governmental authority as a result of the Vendor failing to pay or remit such Transfer Taxes, provided such
  Transfer Taxes were paid or remitted by the Purchaser to the Vendor.

 

For the purpose
of this Section 8 and when used elsewhere in this Agreement, “Loss” shall mean and include any and all liability,
loss, damage, claim, expense, cost, fine, fee, penalty, obligation or injury including, without limitation, those resulting from any and
all actions, suits, proceedings, demands, assessments, judgments, award or arbitration, together with reasonable costs and expenses including
the reasonable attorneys’ fees and other legal costs and expenses relating thereto.

 

9.              PURCHASED
ASSETS "AS IS WHERE IS"

 

The Vendor is selling and the Purchaser is acquiring
all right, title and interest in and to the Purchased Assets “as is” and “where is”, with no representations or
warranties as to merchantability, fitness or usability or in any other regard (except for the limited representations and warranties specifically
set forth below) and the Vendor does not agree to defend, indemnify or hold harmless Purchaser, or any parent, subsidiary or affiliate
of Purchaser, or any director, officer, employee, shareholder, agent or attorney of Purchaser or of any parent, subsidiary or affiliate
of Purchaser from and against and in respect of any Loss which arises out of or results from the transaction described herein; provided,
however, that nothing in this Section 9 shall relieve Vendor of any liability for breach of this Agreement (including the representations
and warranties specifically set forth below).

 

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10.            VENDOR
REPRESENTATIONS

 

The Vendor represents
and warrants to the Purchaser as representations and warranties that are true as at the date hereof, and will be true at the Closing Date,
and that are to continue and to survive the purchase of the Purchased Assets, that:

 

		(a)	the Vendor is duly incorporated, validly existing, and in good standing with respect to the filing of
annual reports under the law of British Columbia has full power, authority and capacity to enter into this Agreement and to carry out
the transactions contemplated herein;

 

		(b)	all necessary corporate action on the part of the directors and shareholders of the Vendor has been taken
to authorize and approve the execution and delivery of this Agreement and the completion of the transactions contemplated herein;

 

		(c)	to the Vendor’s knowledge after reasonable inquiry, the Vendor
is the sole legal and beneficial owner of the Purchased Assets and has a good marketable title to the Purchased Assets free and clear
of all mortgages, liens, charges, pledges, security interests, encumbrances and other claims except for the Existing Liabilities;

 

		(d)	except for the Existing Liabilities, to the knowledge of the Vendor, there
is no litigation or administrative or governmental proceeding or inquiry pending, or threatened against or relating to the Assets, nor
does the Vendor know of any reasonable basis for any such action, proceeding or inquiry;

 

		(e)	the Vendor sells, assigns, transfers and conveys all of its right, title and interest in and to the Assets
to the Purchaser “as is” and “where is”, with no representations or warranties as to merchantability, fitness
or use; and

 

		(f)	the Vendor is not a non-resident of Canada within the meaning of the Income Tax Act.

 

11.            PURCHASER
REPRESENTATIONS

 

The Purchaser represents
and warrants to the Vendor as representations and warranties that are true as at the date hereof, and will be true at the Closing Date,
and that are to continue and to survive the purchase of the Purchased Assets, that:

 

		(a)	the Purchaser is duly incorporated, validly existing, and in good standing with respect to the filing
of annual reports under the law of British Columbia has full power, authority and capacity to enter into this Agreement and to carry out
the transactions contemplated herein;

 

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		(b)	all necessary corporate action on the part of the directors and shareholders of the Purchaser has been
taken to authorize and approve the execution and delivery of this Agreement and the completion of the transactions contemplated herein;

 

		(c)	except for the Existing Liabilities, there is to the knowledge of
the Purchaser no litigation or administrative or governmental proceeding or inquiry pending against or relating to the Purchased Assets,
or which would prevent, enjoin or otherwise delay the transactions contemplated by this Agreement, nor does the Purchaser know of any
reasonable basis for any such action, proceeding or inquiry;

 

		(d)	the Purchaser is acquiring the Purchased Assets “as is”
and “where is”, and has conducted its own independent investigation, review and analysis as to merchantability, condition
and fitness for use of the Purchased Assets and has relied solely upon its own investigation and the express representations and warranties
of the Vendor set forth in this Agreement in proceeding with the transactions contemplated herein;

 

		(e)	neither the Vendor or any other person has made any representation or warranty as to the Purchased Assets,
except as expressly set forth in section 9 of this Agreement; and

 

		(e)	the Purchaser is not a non-resident of Canada within the meaning of the Income Tax Act.

 

12.            SURVIVAL
OF REPRESENTATIONS

 

All representations and warranties made by Purchaser
herein, or in any certificate, schedule or exhibit delivered pursuant hereto, shall survive the Closing for a period of two (2) years
after the Closing. All representations and warranties made by Vendor herein, or in any certificate, schedule or exhibit delivered pursuant
hereto, shall survive the Closing for a period of three (3) months after the Closing.

 

13.            CONFIDENTIALITY

 

Each Party agrees to keep in strict confidence
all information regarding the final terms of this Agreement. The provisions of this paragraph shall not apply to disclosure to a Party’s
legal, accounting or other professional advisors under the same condition of confidentiality, or to any information which is or shall
become part of the public domain (unless through a breach of this Agreement), or which is obtained from third parties with a right to
disclose such information free of any obligation of confidentiality. A Party is permitted to disclose any such confidential information
if required to do so by law (including any order of a court or regulatory authority); provided, however, the disclosing Party shall promptly
notify the other Party of any such requirement and shall limit the disclosure of such confidential information to the extent reasonably
possible.

 

14.            PUBLIC
ANNOUNCEMENTS

 

The parties hereto shall not issue any report,
statement or press release or otherwise make any public statement with respect to this Agreement and the transactions contemplated hereby
without prior consultation with and approval of the other parties, except as required by law, and the Purchaser acknowledges that TILT
may be required to disclose this Agreement and the transactions contemplated hereby in accordance with applicable laws.

 

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15.            PURCHASER'S
CONDITIONS PRECEDENT

 

The obligation of the Purchaser to complete the
transactions contemplated herein on the Closing Date is subject to the following conditions (the "Purchaser’s Conditions")
being satisfied or waived on or before 5:00 p.m. on October 27, 2021:

 

		(a)	the Purchaser having arranged for the release and discharge of the Existing Liabilities; and

 

		(b)	the Purchaser having entered into an agreement with Meridian 125W Cultivation Ltd. with respect to the
acquisition of the Purchased Assets or the assignment of this Agreement.

 

The Purchaser’s Conditions are for the Purchaser’s
sole benefit and may be waived unilaterally by the Purchaser, at the Purchaser’s election and if such Purchaser’s Conditions
are not satisfied or waived within the time herein provided then the Purchaser’s obligation to purchase the Purchased Assets will
be at an end, provided that the Purchaser shall remain bound by the confidentiality provisions of section 11 hereof.

 

16.            VENDOR'S
CONDITION PRECEDENT

 

The obligation of the Vendor to complete the transactions
contemplated herein on the Closing Date is subject to the following condition (the "Vendor’s Condition") being
satisfied or waived on or before 5:00 p.m. on October 27, 2021:

 

		(a)	the Vendor having arranged for the satisfactory release and discharge of the Vendor's obligations under
the lease agreement between the Vendor and the City of Powell River dated for reference November 15, 2016, as amended on July 7,
2017;

 

		(b)	the Vendor being satisfied with the form and substance of the release and discharge of the Existing Liabilities
provided by the Purchaser in part satisfaction of the Purchase Price.

 

The Vendor’s Condition is for the Vendor’s
sole benefit and may be waived unilaterally by the Vendor, at the Vendor’s election and if such Vendor’s Condition is not
satisfied or waived within the time herein provided then the Vendor’s obligation to sell the Purchased Assets will be at an end,
provided that the Vendor shall remain bound by the confidentiality provisions of section 11 hereof.

 

17.            TIME
AND PLACE OF CLOSING

 

Subject to the terms
and conditions of this Agreement, the purchase and sale of the Purchased Assets will be completed at a closing to be held at 11:00
a.m., local time in Vancouver, British Columbia, on the Closing Date at the offices of the Purchaser’s solicitors or at such other
time and date agreed upon in writing between the parties.

 

18.            FINALIZATION
OF ASSET LIST

 

Three days prior
to the Closing, or at such earlier timed as the parties may agree, representatives of the Vendor and the Purchaser will jointly conduct
a physical inspection of the Purchased Assets and record in writing an itemized list of Purchased Assets which will be signed by
the Vendor and the Purchaser or their representatives and shall constitute the final list of Purchased Assets conveyed by the Vendor to
the Purchaser.

 

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19.            DOCUMENTS
TO BE DELIVERED BY THE VENDOR

 

At the closing the Vendor will deliver or cause
to be delivered to the Purchaser:

 

		(a)	a Bill of Sale in the form set out in Schedule D, and all such transfers
and assignments, in form and content satisfactory to the Purchaser’s counsel, appropriate to effectively vest a good and marketable
title to the Purchased Assets in the Purchaser to the extent contemplated by this Agreement;

 

		(b)	possession of the Purchased Assets;

 

		(c)	the elections under s. 167 of the Excise Tax Act as contemplated in section 5 hereof; and

 

		(d)	certified copies of those resolutions of the shareholders and directors of the Vendor required to be passed
to authorize the execution, delivery and implementation of this Agreement and of all documents to be delivered by the Vendor under this
Agreement.

 

20.            DOCUMENTS
TO BE DELIVERED BY THE PURCHASER

 

At the closing the Vendor will deliver or cause
to be delivered to the Purchaser:

 

		(a)	lawyer’s trust cheque for that portion of the Purchase Price payable in cash;

 

		(b)	the release and discharge of the Existing Liabilities, in a form reasonably satisfactory to the Vendor's
solicitors; and

 

		(c)	the elections under s. 167 of the Excise Tax Act as contemplated in section 4 hereof; and

 

		(d)	certified copies of those resolutions of the shareholders and directors of the Purchaser required to be
passed to authorize the execution, delivery and implementation of this Agreement and of all documents to be delivered by the Purchaser
under this Agreement.

 

21.            AS-IS SALE; DISCLAIMERS; RELEASE

 

PURCHASER ACKNOWLEDGES AND AGREES THAT UPON CLOSING
VENDOR SHALL SELL AND CONVEY ALL OF ITS RIGHT, TITLE AND INTEREST IN AND TO THE PURCHASED ASSETS TO PURCHAER AND VENDOR SHALL ACCEPT THE
PURCHASED ASSETS “AS IS, WHERE IS, WITH ALL FAULTS”. PURCHASER HAS NOT RELIED AND WILL NOT RELY ON, AND VENDOR AND ITS AFFILIATES, INCLUDING
TILT, DO NOT MAKE, HAVE NOT MADE (AND HEREBY EXPRESSLY DISCLAIM) AND ARE NOT LIABLE FOR OR BOUND BY, ANY EXPRESS, IMPLIED OR STATUTORY
WARRANTIES, GUARANTEES, STATEMENTS, REPRESENTATIONS OR INFORMATION, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS
FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT AND ANY WARRANTIES THAT MAY ARISE FROM COURSE OF PERFORMANCE, COURSE OF DEALING OR USAGE
OF TRADE PERTAINING TO THE PURCHASED ASSETS OR RELATING THERETO MADE OR FURNISHED BY VENDOR OR ITS AFFILIATES OR REPRESENTATIVES, TO WHOMEVER
MADE OR GIVEN, DIRECTLY OR INDIRECTLY, ORALLY OR IN WRITING, EXCEPT AS EXPRESSLY STATED HEREIN. BUYER ALSO ACKNOWLEDGES THAT THE PURCHASE
PRICE REFLECTS AND TAKES INTO ACCOUNT THAT THE PURCHASED ASSETS ARE BEING SOLD “AS IS, WHERE IS, WITH ALL FAULTS.”

 

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22.            INSPECTIONS
AND INVESTIGATIONS

 

PURCHASER ACKNOWLEDGES TO VENDOR THAT PURCHASER
HAS HAD THE OPPORTUNITY TO CONDUCT PRIOR TO CLOSING SUCH INSPECTIONS AND INVESTIGATIONS OF THE PURCHASED ASSETS AS BUYER DEEMS NECESSARY
OR DESIRABLE TO SATISFY ITSELF AS TO THE PURCHASED ASSETS AND ITS ACQUISITION THEREOF. PURCHASER FURTHER WARRANTS AND REPRESENTS TO VENDOR
THAT PURCHASER IS RELYING SOLELY ON ITS OWN REVIEW AND OTHER INSPECTIONS AND INVESTIGATIONS IN THIS TRANSACTION AND NOT UPON THE INFORMATION
PROVIDED BY OR ON BEHALF OF VENDOR, OR ITS AFFILIATES, INCLUDING TILT, AGENTS, EMPLOYEES OR REPRESENTATIVES WITH RESPECT THERETO.
PURCHASER HEREBY ASSUMES THE RISK THAT ADVERSE MATTERS INCLUDING, BUT NOT LIMITED TO, LATENT OR PATENT DEFECTS, ADVERSE PHYSICAL OR OTHER
ADVERSE MATTERS, MAY NOT HAVE BEEN REVEALED BY PURCHASER’S REVIEW AND INSPECTIONS AND INVESTIGATIONS.

 

23.            NOTICES

 

All notices, directions, or other instruments
required or permitted to be given to the parties hereto shall be in writing and shall be delivered to the address of the party to whom
it is directed as set below:

 

	 	to the Vendor:	Sante Veritas Therapeutics Inc.
	 	 	2801 E.Camelback Rd. #180
	 	 	Phoenix, AZ 85018

 

	 	 	Attention:	Legal Department
	 	 	 	 
	 	 	Email: [*]

 

	 	with a copy to:	McCarthy Tetrault LLP
	 	(which shall not	745 Thurlow Street, Suite 2400
	 	constitute notice)	Vancouver, BC V6E 0C5

 

	and	

 

	 	to the Purchaser:	1120419 B.C. Ltd.
	 	 	4520 Franklin Avenue
	 	 	Powell River, BC V8A 3E3

 

	 	 	Attention:	Chris Orlinis
	 	 	 	 
	 	 	Email: [*]

 

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Every such notice shall be deemed to have been
given:

 

	(a)	when delivered by hand (with written confirmation of receipt);

 

	(b)	when received by the addressee if sent by a nationally recognized overnight courier (receipt requested);

 

		(c)	on the date sent by email of a PDF document (with confirmation of transmission) if sent during normal
business hours of the recipient, and on the next business day if sent after normal business hours of the recipient; or

 

	(d)	on the third (3rd) day after the date mailed, by certified or registered mail, return
receipt requested, postage prepaid. Such communications must be sent to the respective parties at the following addresses (or at such
other address for a party as shall be specified in a notice given in accordance with this section 9.05).

 

24.            CHANGE
OF ADDRESS

 

Either Party may
change the address for notice shown in this agreement by delivering notice to the other Party of the new address, and such change will
take effect 1 day after the notice is delivered.

 

25.            FURTHER
ASSURANCES

 

This agreement constitutes
the legal transfer by the Vendor of title to the Purchased Assets to the Purchaser as of the Effective Date. The Vendor shall,
from time to time as and when requested by the Purchaser, and at the expense of the Purchaser, do, execute and cause to be made, done
and executed all such further documents, assignments and assurances that may be necessary and that may be reasonably required by the Purchaser
for more completely and effectively vesting the Purchased Assets in the Purchaser and whether for the purpose of registration or otherwise.
The parties hereby agree that they will execute all such documents, instruments and agreements and perform such further acts and supply
to any federal or provincial taxing authority such information as may be necessary from time to time to carry out the terms and intent
of this agreement.

 

26.            ASSIGNMENT

 

The Purchaser may
assign and transfer all, but not less than all, of its rights and interest under this Agreement to Meridian 125W Cultivation Ltd., provided
that (a) notice of such assignment is delivered to the Vendor; and (b) the Purchaser remains jointly and severally liable with
Meridian 125W Cultivation Ltd. for all of obligations of the Purchaser hereunder.

 

27.            SURVIVAL
OF CERTAIN OBLIGATIONS

 

Notwithstanding the assignment or termination
of this Agreement, The obligations with respect to confidentiality set out in sections 12 and 13 herein shall such assignment or termination
and continue in full force and effect.

 

28.            EXPENSES

 

All costs and expenses
incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the party incurring such costs and
expenses.

 

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29.            MODIFICATION

 

This agreement may not be modified or amended
except by an instrument in writing signed by the parties hereto or their respective successors or assigns.

 

30.            ENUREMENT

 

This agreement and all of its terms and provisions
shall be binding upon and enure to the benefit of the parties hereto and their respective successors, assigns, heirs and legal representatives.

 

31.            SEVERABILITY

 

Should any part of this agreement be declared
or held to be invalid or unenforceable for any reason, such invalidity or unenforceability shall not affect the validity or enforceability
of the remainder of this agreement which shall continue in full force and effect and be construed as if this agreement had been executed
without any such invalid or unenforceable portion and it is hereby declared the intention of the parties hereto that this agreement would
have been executed without reference to any portion that may for any reason be hereafter declared or held invalid or unenforceable.

 

32.            LEGAL
COUNSEL

 

Each party hereto
acknowledges having been advised to obtain independent legal advice prior to signing this Agreement and by signing this Agreement that
party represents to the other parties that it did obtain whatever independent legal advice deemed appropriate by that party.

 

33.            LIMITED
RECOURSE

 

This Agreement may
only be enforced against, and any claim, action, suit or other legal proceeding based upon, arising out of or related to this Agreement,
or the negotiation, execution or performance of this Agreement, may only be brought against the entities that are expressly named as parties
hereto and then only with respect to the specific obligations set forth herein with respect to such party. No past, present or future
director, officer, employee, incorporator, manager, member, partner, stockholder, affiliate, agent, attorney or other representative of
any party hereto or of any affiliate of any party hereto, or any of their successors or permitted assigns, shall have any liability for
any obligations or liabilities of any party hereto under this Agreement or for any claim, action, suit or other legal proceeding based
on, in respect of or by reason of the transactions contemplated hereby.

 

The parties acknowledge and agree that their sole
and exclusive remedy with respect to any and all claims (other than claims arising from intentional fraud on the part of a party hereto
in connection with the transactions contemplated by this Agreement) for any breach of any representation, warranty, covenant, agreement
or obligation set forth herein or otherwise relating to the subject matter of this Agreement shall be pursuant to the indemnification
provisions set forth in Section 8. In furtherance of the foregoing, each party hereby waives, to the fullest extent permitted under
law, any and all rights, claims and causes of action for any breach of any representation, warranty, covenant, agreement or obligation
set forth herein or otherwise relating to the subject matter of this Agreement it may have against the other parties hereto and their
affiliates and each of their respective representatives arising under or based upon any law, except pursuant to the indemnification provisions
set forth in Section 8. Nothing in this Section 33 shall limit any person’s right to seek and obtain any equitable relief
to which such person shall be entitled.

 

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34.            GOVERNING
LAW

 

This agreement shall be governed by and be construed
in accordance with the laws of the Province of British Columbia and of Canada as applicable therein.

 

35.            ARBITRATION

 

Any controversy, dispute, disagreement, or claim
arising out of, relating to or in connection with this Agreement or any breach thereof, including any question regarding its existence,
validity, or termination (each, a “Dispute”), shall be referred to, and finally and conclusively resolved by, binding
arbitration. The following provisions shall govern any arbitration hereunder:

 

	(a)	The place of arbitration shall be Vancouver, British Columbia, Canada and the law applicable to the substance of any Dispute shall be the laws of the Province of British Columbia and the federal laws of Canada applicable therein.

 

	(b)	Except to the extent the Parties agree otherwise in writing, the arbitration will be conducted in accordance with the Arbitration Act, S.B.C. 2020, c. 2 (the “Act”), the Vancouver International Arbitration Centre Domestic Arbitration Rules(the “Rules”) and this Agreement.

 

	(c)	Notwithstanding the Rules, the Vancouver International Arbitration Centre (the “Centre”)
  shall not administer the arbitration. Rules calling for the Centre to administer the arbitration shall not apply.

 

	(d)	An arbitration shall be commenced by delivering a notice to the other Party demanding arbitration under this Agreement, which notice must be delivered in accordance with the notice provisions of this Agreement and must contain a concise description of the matter in dispute.

 

	(e)	The arbitration will be conducted by a single arbitrator. If, within twenty (20) days of the delivery of a notice demanding arbitration, the parties cannot agree on a suitable arbitrator, an arbitrator shall be selected in accordance with sections 14 and 28 of the Rules.

 

	(f)	The language of the arbitration, including the hearings, documentation and award, shall be English.

 

	(g)	A party may seek to enforce an arbitral award in any court having jurisdiction.

 

	(h)	The Parties shall equally share the fees of the arbitrator and any applicable facility fees.

 

	(i)	The Parties shall each bear their own legal costs and expenses of the arbitration.

 

	(j)	Any decision of the arbitrator shall be final and binding on the Parties and their respective
  successors and assigns. Rules related to an Optional Arbitration Appeal shall not apply.

 

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	(k)	The arbitration procedures, hearings, documents and award shall remain strictly confidential between the parties.

 

36.            SCHEDULES

 

The following Schedules attached hereto are incorporated
herein and form part of this Agreement:

 

A - Purchased
Assets;

B – Existing Liabilities

C
 – Allocation

D – Bill of Sale

 

37.            HEADINGS

 

The headings of the clauses of this agreement
are inserted for convenience of reference only and shall not constitute a part hereof.

 

38.            TIME
OF ESSENCE

 

Time shall be of the essence of this agreement.

 

39.            COUNTERPARTS

 

This Agreement may
be executed in any number of counterparts and by facsimile or other electronic means, each of which shall together, for all purposes,
constitute one and the same instrument, binding on the parties, and each of which shall together be deemed to be an original, notwithstanding
that all of the parties are not signatory to the same counterpart.

 

IN WITNESS WHEREOF
this agreement was duly executed by the parties to take effect as of the day and year first above written.

 

SANTE VERITAS THERAPEUTICS INC.

by its authorized signatory:

 

 

	/s/ Gary Santo	 
	Name: Gary Santo	 
	Title: Director	 

 

 

	1120419 B.C. LTD.	 
	by its authorized signatory:	 

 

 

	/s/ Chris Orlinis	 
	Name: Chris Orlinis	 
	Title: President	 

 

    12

    

    

 

SCHEDULE “A”

 

Purchased Assets

 

[*]

 

Excluded Assets

 

For greater certainty, the parties acknowledge that the following do not form a part of and are excluded from the Purchased Assets being transferred under this agreement.  

 

	1.	Books and records held in storage by Iron Mountain.
	 	 
	2.	All assets currently located at Vendor’s office location
on Marine Ave., Powell River, British Columbia and more particularly described below.

 

    13

    

    

 

SCHEDULE “B”

 

Existing Liabilities

 

[*]

 

    14

    

    

 

SCHEDULE “C”

 

Allocation of Purchase Price

 

	Equipment 	 	$	75,000.00	 
	Leasehold Improvements	 	$	825,000.00	 

 

    15

    

    

 

SCHEDULE “D”

 

Bill of Sale

 

    16

    

    

 

BILL OF SALE (ABSOLUTE)

 

This Bill
of Sale is made the 27th day of October, 2021.

 

BETWEEN:

 

SANTE VERITAS THERAPEUTICS INC.

 

(the “Vendor”)

 

AND:

 

MERIDIAN 125W CULTIVATION LTD.

 

(the “Purchaser”)

 

WHEREAS:

 

		A.	The Vendor is the owner of the chattels (hereinafter called the “Chattels”) described in the
Schedule hereto.

 

		B.	The Purchaser has agreed to purchase the Chattels from the Vendor.

 

NOW
THIS BILL OF SALE WITNESSES THAT: in consideration of $10.00 and other good and valuable consideration the receipt and
sufficiency of which is hereby acknowledged by all parties.

 

		1.	The Vendor hereby warrants and agrees with the Purchaser that:

 

		(a)	the Vendor has title to the Chattels and good right to sell them to the Purchaser;

 

		(b)	the Purchaser shall hold the Chattels for the Purchaser’s own use and benefit, without any claim
or demand of the Vendor or any other person;

 

		(c)	the Vendor shall indemnify the Purchaser against any charge or encumbrance which may be presently existing
upon the Chattels, except such as may be set forth in the Schedule; and

 

		(d)	the Vendor shall execute such further assurances of the Chattels as the Purchaser may reasonably require.

 

     

    – 2
                                                                          –

    

 

		2.	This Bill of Sale shall enure to the benefit of and be binding upon the parties hereto and their respective
personal representatives, successors and assigns, as the case may be.

 

IN
WITNESS WHEREOF the Vendor has executed this Bill of Sale, effective the day and year first above written

 

	SANTE VERITAS THERAPEUTICS INC.	
	Per:	 
	 	 
	 	 
	Gary Santo, Director	 
	 	 
	 	 
	MERIDIAN 125W CULTIVATION LTD.	 
	Per:	 
	 	 
	 	 
	Sanjay Sharma, Director	 

 

     

     

    

 

SCHEDULE

 

To
Bill of Sale dated October 27th, 2021 respecting the tangible assets used by Sante Veritas Therapeutics Inc. in the business
located at 6270 Yew Street, Powell River, British Columbia V8A 4K1 (the “Premises”).

 

All
equipment as listed in the attached Equipment List, and leasehold improvements at the Premises, as more particularly described in that
Asset Purchase Agreement dated October 27th, 2021 among, inter alia, the Vendor and Sanjay Sharma, later assigned to the Purchaser,
and all addendums thereto.

 

The purchase price of the Chattels shall be $900,000.00
to be allocated as follows:

 

Equipment: $75,000.00

Leasehold Improvements: $825,000.00Exhibit 10.3

 

Execution
Version

 

ASSIGNMENT AGREEMENT

 

BY AND BETWEEN

 

SH FINANCE COMPANY, LLC,

As Assignor

 

and

 

TENEO FUND SPVi LLC,

 

As Assignee

 

 

 

Dated as of February 22, 2021

 

    

    

    

 

ASSIGNMENT AGREEMENT, (the “Agreement”),
dated as of February 22, 2021, by and between SH Finance Company, LLC, a Delaware limited liability company (the “Assignor”),
and Teneo Funds SPVi LLC, a Delaware limited liability company (the “Assignee”).

 

WHEREAS, Assignor is party to
that certain Loan and Security Agreement by and between Assignor and Ermont, Inc., a Massachusetts nonprofit corporation (“Ermont”)
dated June 1, 2018 (the “Loan Agreement”), and Assignor wishes to sell and assign and the Assignee wishes to purchase
and assume the Assignor’s rights and claims under the Loan Agreement and the other Financing Agreements; Capitalized terms used
herein and not otherwise defined shall have the meanings ascribed to them in the Loan Agreement;

 

NOW, THEREFORE, in consideration
of the foregoing and of the representations, warranties, covenants and agreements hereinafter set forth, and intending to be legally bound
hereby, the parties hereto agree as follows:

 

ARTICLE 1.     ASSIGNMENT
AND ASSUMPTION.

 

1.1            Assignment
and Assumption. Upon the terms and subject to the conditions of this Agreement, at the closing provided for in Section 1.2
hereof (the “Closing”), the Assignor shall irrevocably sell, transfer and assign, and Assignee shall purchase and assume,
all of the Assignor’s rights, title, interest, claims and obligations under the Loan Agreement, the other Financing Agreements and
the other Assigned Interests (as defined below), in exchange for a payment of the Purchase Price plus Accrued Interest (as each is defined
herein) from the Assignee to the Assignor as set forth herein. Such sale and assignment is without recourse to the Assignor except as
expressly provided in this Agreement, and, except as expressly provided in this Agreement, without representation or warranty by the Assignor.

 

1.2            Closing.
The closing of the transactions contemplated by this Agreement shall take place remotely, on the date hereof or such other date as mutually
agreed to by the parties (the “Closing Date”). On and as of the Closing Date, (i) the Assignor shall irrevocably
sell, transfer and assign to the Assignee all of Assignor’s right, title, interests and claims under and to, and all rights, powers
and remedies of any kind, nature or description under or in connection with the Loan Agreement and the other Financing Agreements including,
but not limited to, all rights in any Collateral granted by the Borrower that is security for the Obligations, and (ii) the Assignor
shall, and shall cause its affiliates, including, without limitation, Commonwealth Alternative Care, Inc., to irrevocably sell, transfer
and assign to the Assignee all of Assignor’s and its Affiliates’ right, title, interests and claims in any accounts receivable
owed by Ermont (the “A/R”); provided that Assignor’s obligations to assign or cause the assignment of the A/R
under this clause (ii) is limited, in all cases, to what Assignor is permitted to do under applicable law and any documents related
to the A/R and without obtaining the consent of any third party (the foregoing clauses (i) and (ii), subject to the conditions set
forth therein, are collectively referred to herein as the “Assigned Interests”), and in exchange, the Assignee shall
pay to the Assignor the Purchase Price as set forth below by wire transfer of immediately available funds to an account or accounts designated
in writing by the Assignor to the Assignee on or before the Closing Date (the “Wire”). Assignee accepts the assignment
of the Assigned Interests on the terms and conditions set forth herein.

 

    1

    

    

 

1.3            Closing
Date Deliverables.

 

(a)            In
addition, the Assignor shall deliver on or before the Closing Date the following to the Assignee, all of which shall be in form and substance
reasonably satisfactory to Assignee:

 

(i)            if
necessary in addition to this Agreement, any assignment agreements or other instruments of transfer or conveyance reasonably requested
by the Assignee assigning the Assigned Interests;

 

(ii)           a
certificate executed by the sole member of the Assignor certifying (x) the resolutions duly adopted by the sole member of the Assignor
authorizing and approving the execution, delivery and performance of this Agreement and (y) that such resolutions have not been rescinded
or modified and remain in full force and effect as of the Closing Date, the form of which is attached hereto as Exhibit A;

 

(iii)          a
certificate of good standing for the Assignor from the Secretary of State of the State of Delaware as of a date no more than thirty (30)
days prior to the Closing Date;

 

(iv)         solely
to the extent available, original versions of the Loan Agreement and all Financing Agreements set forth on Annex II hereto, or if such
original versions cannot be located, a Lost Instrument Affidavit with respect thereto;

 

(v)           UCC-3
assignment in the form attached hereto as Exhibit B and such other assignment agreements and/or instruments as are necessary
to effectuate the assignment of Collateral or any of the Financing Agreements from Assignor to Assignee;

 

    2

    

    

 

(vi)          a
signed original letter from Assignor to Ermont in the form attached hereto as Exhibit C, which shall advise Ermont that the
Obligations will be assigned to Assignee (the “Good-Bye Letter”) in accordance with the requirements of Section 12.3
of the Loan Agreement;

 

(vii)         a
bill of sale selling, assigning, transferring and conveying to the Assignee all rights, title and interest of the Assignor in, to and
under the Assigned Interests, all on the terms and conditions set forth in this Agreement; and

 

(viii)        At
request of the Assignee, and provided that Assignor is listed as a loss payee or insured, the Assignor will reasonably cooperate with
the Assignee in executing requests to each hazard, liability, or casualty insurer issuing a policy of insurance to the Borrower, requesting
an endorsement of its policy of insurance effective as of the date hereof adding the Assignee and deleting the Assignor as the loss payee
or insured, as the case may be.

 

(b)            The
Assignee shall deliver at the Closing the following to the Assignor, all of which shall be in form and substance reasonably satisfactory
to the Assignor:

 

(i)            a
certificate executed by the manager of the Assignee certifying that all of its representations and warranties contained in this Agreement
are true and correct as of the Closing Date, the form of which is attached hereto as Exhibit D;

 

(ii)           a
certificate executed by the manager of the Assignee certifying (x) the resolutions duly adopted by the manager of Assignee authorizing
and approving the execution, delivery and performance of this Agreement and (y) that such resolutions have not been rescinded or
modified and remain in full force and effect as of the Closing Date, the form of which is attached hereto as Exhibit D;

 

(iii)          a
certificate of good standing for Assignee from the Secretary of State of the State of Delaware as of a date no more than thirty (30) days
prior to the Closing Date; and

 

(iv)          evidence
reasonably satisfactory to Assignor that Assignee has irrevocably instructed its financial institution to initiate the Wire on the Closing
Date.

 

    3

    

    

 

1.4            Payment
of Purchase Price. The “Purchase Price” for the Assigned Interests assigned hereunder shall be payable in cash
as follows:

 

(a)            Closing
Payment. On the Closing Date, Assignee shall pay One Million Two Hundred Fifty Thousand Dollars ($1,250,000) to Assignor.

 

(b)            [***]

 

1.5            Security.

 

(a)            To
secure the full and punctual payment of the Purchase Price and Assignee’s indemnification obligations hereunder, the Assignee hereby
grants the Assignor a continuing security interest in all of the Assignor’s right, title and interest in, to and under (i) the
Liquidation Proceeds; (ii) any payment or repayment of the obligations outstanding under the Loan Agreement; and (iii) the proceeds
and products of subsections (i) and (ii) hereof to secure prompt payment and performance of the Purchase Price (collectively,
the “Liquidation Collateral”). This Agreement constitutes a security agreement under the uniform Commercial Code in
any applicable jurisdiction and Assignor is entitled to all of the rights and remedies of a secured party thereunder. Furthermore, the
Assignee shall not, without obtaining the prior written consent of the Assignor, further pledge, assign or grant any security interest
in any of the Liquidation Collateral, or permit any encumbrance to attach thereto or to be made thereon. The Assignee shall maintain the
security interest created by this Section 1.5 as a first priority perfected security interest and will defend the right, title
and interest of the Assignor in and to the Liquidation Collateral against the claims and demands of all other persons whomsoever. The
security interest created hereby shall remain in full force and effect until payment in full of the Purchase Price and any Accrued Interest.
Upon payment in full of the Purchase Price and any Accrued Interest, if any, this security interest shall terminate and the Assignor agrees
to execute and deliver to Assignee or its designee such instruments and documents as may be reasonably requested by the Assignee to evidence
such termination, and hereby authorizes the Assignee or its designee to take such actions as may be necessary to file or record such instruments
or documents evidencing termination of the security interest in the appropriate public records. In the event Assignee obtains any third
party secured financing, Assignor shall reasonably consider subordinating the security interest in the Liquidation Collateral created
herby to the security interest of any such third party financing source, but is under no obligation to do so. Assignee acknowledges and
agrees that it shall be obligated to repay any such third party financing with its own funds, and any such indebtedness shall not be taken
into account for purposes of calculating the Purchase Price payable to Assignor pursuant to Section 1.4.

 

    4

    

    

 

(b)            The
Assignee authorizes the Assignor to file any financing statement or statements required by Assignor to establish or maintain the validity,
perfection and priority of the security interest granted herein in connection with the Liquidation Collateral. The Assignee agrees that
at any time and from time to time, at the expense of the Assignee, the Assignee will promptly and duly execute and deliver all further
instruments and documents, and take all further action, that may be necessary or desirable, or that the Assignor may reasonably request,
in order to perfect and protect any security interest granted or purported to be granted hereby or to enable the Assignor to exercise
and enforce its rights and remedies hereunder.

 

1.6            As
of the Closing Date, (a) the Assignee shall be a party to the Loan Agreement, and have the rights and obligations of a Lender thereunder
and under the other Financing Agreements; and (b) Assignor shall relinquish its rights and shall be released from its obligations
under the Loan Agreement and the other Financing Agreements.

 

ARTICLE 2.     REPRESENTATIONS
AND WARRANTIES OF ASSIGNOR

 

The Assignor represents and warrants to the Assignee
as follows:

 

2.1            Organization;
Authority; Enforceability. The Assignor is duly organized, validly existing and in good standing under the laws of the State of Delaware.
The Assignor has all requisite power and authority to enter into this Agreement and to consummate, or cause to be consummated, the transactions
contemplated hereby. The execution, delivery and performance by the Assignor of this Agreement and the consummation of the transactions
contemplated hereby have been duly authorized by all necessary action on the part of the Assignor. This Agreement has been duly executed
and delivered by the Assignor and constitutes valid and binding obligations of the Assignor, enforceable against the Assignor in accordance
with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application
affecting enforcement of creditors’ rights generally, or as limited by laws relating to the availability of specific performance,
injunctive relief, or other equitable remedies. The execution of this Agreement and the performance of the Assignor of its obligations
hereunder will not conflict with or be a breach of any material provision of any law, regulation, judgment, order, decree, writ, injunction,
contract, agreement or instrument to which the Assignor is subject; and the Assignor has obtained any consent, approval, authorization
or order of any court or governmental agency or body required for the execution, delivery and performance of this Agreement; provided
however, that in each case, the Assignor makes no representation or warranty with respect to any conflicts with any regulations from the
Massachusetts Department of Public Health or Cannabis Control Commission or any consent, approval or authorization, that may be required
by the Massachusetts Department of Public Health or Cannabis Control Commission.

 

    5

    

    

 

2.2            Loan
Balance. Assignor represents and warrants that the amount set forth as the assigned amount of Obligations on Annex I represents
the amount owed by Ermont to Assignor with respect to the Obligations, as reflected on Assignor's books and records as of the Closing
Date. For the avoidance of doubt, Assignor hereby assigns all of its Obligations under the Loan Agreement to Assignee.

 

2.3            Collateral.
Assignor represents and warrants that no Collateral is in the possession or control of Assignor or any agent or bailee thereof.

 

2.4            Financing
Agreements and Related Documents. Assignor further represents and warrants that to its knowledge after due inquiry: (i) Annex
II attached hereto sets forth a list of each material Financing Agreement, true, correct and complete copies of which have been provided
to Assignee; and (ii) as of the Closing Date, there have been no amendments, modifications, forbearances, supplements or consents,
whether in writing, orally or otherwise to the Financing Agreements or Loan Agreement except as otherwise provided to Assignee. Within
three (3) Business Days of the Closing Date, Assignor will have exercised commercially reasonable efforts to provide to Assignee
true, correct and complete copies of all agreements, documents, correspondence and all other materials or information pertaining to the
Obligations, the Financing Agreements, and the transactions contemplated hereby or thereby that is in the possession of Assignor pursuant
to Section 4.9 hereunder.

 

2.5            Litigation.
There is no pending or, to the best of Assignor’s knowledge, threatened claims or litigation against the Assignor, which prohibits
the Assignor from selling, transferring or assigning its rights in the Acquired Interests as set forth herein.

 

2.6            Assigned
Interests. The Assignor is the legal and beneficial owner of the Assigned Interests, and the Assigned Interests are assigned, transferred
and sold free and clear of any lien, encumbrance or other adverse claim of any kind or nature.

 

Except as set forth in this Article 2, the
Assignor makes no representation or warranty and assumes no responsibility with respect to (a) any statements, representations or
warranties made in or in connection with the Assigned Interests or any other agreement related thereto, (b) the execution (other
than with respect to Assignor), validity, legality, enforceability, sufficiency, genuineness or value of, or the perfection or priority
of any lien or security interest created or purported to be created under or in connection with, Assigned Interests or any other instrument
or document furnished pursuant thereto, other than this Agreement as provided in this Article 2, or any collateral thereunder, (c) the
performance or observance by the Borrower (as defined in the Loan Agreement), any of its subsidiaries or affiliates or any other person
of any of their respective obligations under the Assigned Interests or any other instrument or document furnished pursuant thereto or
(d) the financial condition of the Borrower, any of its subsidiaries or affiliates or any other person obligated in respect of the
Loan Agreement.

 

    6

    

    

 

ARTICLE 3.     REPRESENTATIONS
AND WARRANTIES OF ASSIGNEE.

 

The Assignee hereby represents and warrants to
the Assignor as follows:

 

3.1            Organization;
Authority; Enforceability. The Assignee is a Delaware limited liability company, duly organized, validly existing and in good standing
under the laws of the jurisdiction of its organization, and has all requisite power and authority to enter into this Agreement and to
consummate the transactions contemplated hereby. The execution, delivery and performance by the Assignee of this Agreement and the consummation
of the transactions contemplated hereby has been duly authorized by all necessary action on the part of the Assignee. This Agreement has
been duly executed and delivered by the Assignee and constitutes valid and binding obligations of the Assignee, enforceable against the
Assignee in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws
of general application affecting enforcement of creditors’ rights generally, or as limited by laws relating to the availability
of specific performance, injunctive relief, or other equitable remedies.

 

3.2            No
Violation; Consents and Approvals. The execution and delivery by the Assignee of this Agreement do not, and the consummation of the
transactions contemplated hereby and compliance with the terms hereof will not (a) conflict with, or result in any violation of or
default under, any provision of the organizational documents of the Assignee, (b) violate any judgment, order, injunction or decree
or statute, law, ordinance, rule or regulation applicable to the Assignee or the property or assets of the Assignee or (c) 
give rise to any right of termination, cancellation or acceleration under, or conflict with, or result in any violation of or default
under any note, bond, mortgage, indenture, license, agreement, capital lease or other instrument or obligation to which the Assignee is
a party or by which the Assignee or its assets may be bound, which conflict, violation or default would prevent the Assignee from consummating
the transaction.

 

3.3            The
Assignee (a) shall be bound by the provisions of the Loan Agreement as Lender thereunder and shall have the obligations of Lender
thereunder, from and after the Closing Date, (b) is sophisticated regarding decisions to purchase assets such as those represented
by interests purchased hereunder and either it, or the person exercising discretion in making its decision to purchase the interests assigned
hereunder, is experienced in acquiring assets of such type, and (c) has received a copy of the Loan Agreement and the other documents
related thereto set forth on Annex II hereto, and such other documents and information as it has deemed appropriate to make its own credit
analysis and decision to enter into this Agreement and to purchase the interests hereunder and, on the basis of such documents and information
and the representations of Assignor in Article II hereof, it has made such analysis and decision independently and without reliance
on the Assignor (other than to the extent set forth in this Agreement).

 

    7

    

    

 

3.4            The
Assignee agrees that (a) it will, based on such documents and information as it shall deem appropriate at the time, continue to make
its own credit decisions in taking or refraining from taking action under the Loan Agreement, independently and without reliance on the
Assignor (other than to the extent set forth in this Agreement),, and (b) it will perform in accordance with their terms all of the
obligations that are required to be performed by it as Lender under the Loan Agreement.

 

ARTICLE 4.     POST-CLOSING
COVENANTS.

 

4.1            [Reserved.]

 

4.2            Non-Solicitation.
The Assignee agrees that it shall not, and shall cause its Affiliates not to, directly or indirectly, induce or attempt to induce any
employee or consultant of the Assignor to discontinue providing services to Assignor for a period of twelve (12) months from Closing.

 

4.3            Taxes. 
The Assignor will be responsible for the preparation and filing of all tax returns of the Assignor for all tax periods prior to the Closing
and will be responsible for and shall promptly pay prior to delinquency all taxes due or levied with respect to the Loan Agreement and
the other Financing Agreements on or prior to the Closing Date (the “Pre-Closing Taxes”).

 

4.4            Confidential
Information. Each Party receiving Confidential Information (the “Receiving Party”) agrees (i) to observe complete
confidentiality with respect to all Confidential Information; (ii) not to disclose, or permit any access to, the Confidential Information
(or any portion thereof), except to or by any representative of such Receiving Party having a need to know such Confidential Information
for purposes of performing such Receiving Party’s obligations or enforcing the Disclosing Party’s obligations under this Agreement,
without prior written permission of the Party disclosing such Confidential Information (the “Disclosing Party”), and
(iii) not to use the Confidential Information except as required to perform such Receiving Party’s obligations or to enforce
the Disclosing Party’s obligations under this Agreement. Notwithstanding the foregoing, if the Receiving Party is required to disclose
the Confidential Information pursuant to law or governmental or judicial process, it may do so provided that (a) to the extent legally
permitted, it first provides prompt written notice to the Disclosing Party in order that the Disclosing Party may have every opportunity
to intercede in such process, contest such disclosure or obtain special treatment under an appropriate protective order, (b) the
Receiving Party provides reasonable assistance to Disclosing Party in its efforts pursuant to subclause (a) above, and (c) the
Receiving Party’s disclosure of the Confidential Information pursuant to this sentence is limited to information specifically required,
in both content and manner, by such law or governmental or judicial process. In addition, notwithstanding anything to the contrary herein,
Assignee may use and disclose Confidential Information as reasonably necessary in connection with (i) any litigation or other adversary
proceeding involving claims related to the rights or duties of the parties under the Loan Agreement or the other Financing Agreements;
and (ii) the exercise of any secured creditor remedy, including without limitation, any foreclosure, receivership, or secured party
sale, under the Loan Agreement or under any other Financing Agreement’ provided, however, that prior to such use of the Confidential
Information, Assignee provides as much prior written notice to Assignor as is possible under the then-existing circumstances. Assignee
shall be entitled to seek appropriate protective orders or other protection in connection therewith, but after the requisite notice is
provided, Assignee may use the Confidential Information as provided for herein until Assignor receives a protective order or other protection.
For purposes of this Section, “Confidential Information” means all information concerning Ermont under the Loan Agreement,
provided that Confidential Information shall not include: (i) such information that at the time of disclosure has been generally
known to the public through no fault of Assignor or its representatives or after disclosure becomes generally known to the public through
no fault of Assignee, Assignor or their representatives, (ii) such information that as shown by written records was prior to disclosure
in possession of the Receiving Party on a non-confidential basis, (iii) such information that is rightfully received by the Receiving
Party on a non-confidential basis from third parties who were entitled to receive and transfer such Confidential Information, or (iv) information
as to which counsel advises that disclosure is compelled under applicable Law. For the avoidance of doubt, this Agreement and its terms
(including the pendency of the potential transaction) shall constitute Confidential Information.

 

    8

    

    

 

4.5            Assignee’s
Good Faith Obligations. Assignee agrees to act in good faith, will refrain from taking any action deliberately intended to diminish
the value of the Liquidation Proceeds, and will act in a commercially reasonable manner to maximize the Liquidation Proceeds; provided,
however, that nothing herein will be construed to require the operations of the Assignee to be conducted in any particular manner after
the Closing or prevent or otherwise restrict the Assignee from conducting its operations in a commercially reasonable manner or fulfilling
its fiduciary obligations to its equity holders.

 

4.6            Audit
Rights. Upon reasonable prior written notice from the Assignor, the Assignor may, at its own expense and not more frequently than
twice per calendar year examine or cause to be examined by an agent of the Assignor, the books of account of the Assignee solely to the
extent they relate to the calculation of payments of the Purchase Price to the Assignor hereunder.  If, as a result of such an audit,
it is determined that there has been an underpayment of amounts due to the Assignor hereunder, the Assignee shall immediately pay to the
Assignor an amount equal to the resulting underpayment.  If the resulting underpayment is greater than three percent (3%) of the
correct amount due hereunder, the Assignee shall immediately reimburse the Assignor for the cost of the audit.

 

4.7            Assignor
and Assignee each hereby agree to execute such other instruments as any other party hereto may reasonably request in connection with the
delivery of any notices or other additional instruments which are necessary to evidence the assignment and assumption contemplated hereby,
including the execution and/or delivery by Assignor to Assignee of UCC-3 assignments and such other assignment agreements and/or instruments
as are necessary to effectuate the assignment of Collateral and the Financing Agreements from Assignor to Assignee. Any such actions by
Assignor after the date hereof shall be at the sole cost and expense of Assignee. On the date hereof, Assignor hereby authorizes Assignee
or its designee to file or record the Uniform Commercial Code financing statements or amendments, as applicable, attached hereto as Exhibit B
in order to reflect the assignment of record to Assignee of the Loan Agreement, the other Financing Agreements and the Assigned Interests.

 

4.8            Assignment
of Management Agreement. Reference is made to that certain Services Agreement by and between Ermont and Zolly, LLC, dated as of December 20,
2015 (the “Services Agreement”), which was later assigned from Zolly, LLC to Cultivo LLC on May 31, 2018 . If
Assignee notifies Assignor within sixty (60) business day of the Closing Date that Assignee elects to assume the Services Agreement through
an acquisition of Cultivo, both the Assignor and the Assignee shall take all actions required to effect a transfer or assignment to the
Assignee of the equity interests in Cultivo for no additional consideration and on an as-is where-is basis.

 

4.9            Loan
File. Within three (3) Business Days of the Closing Date, Assignor will provide to Assignee true, correct and complete copies
of all agreements, and shall have taken commercially reasonable efforts to identify and deliver to Assignee, all other documents, correspondence
and all other materials or information, pertaining to the Obligations, the Financing Agreements, and the transactions contemplated hereby
or thereby that is in the possession of Assignor.

 

    9

    

    

 

ARTICLE 5.     INDEMNIFICATION

 

5.1            Indemnification
by Assignor. The Assignor shall indemnify and hold harmless Assignee and its Affiliates and their respective directors, officers,
employees, Affiliates and other persons who control or are controlled by Assignee or any of its Affiliates, and their respective agents
and other representatives (collectively, the “Assignee Indemnified Parties”), from and against any and all loss,
liability, damages, claim or expenses (including, without limitation, legal fees) paid, sustained or incurred by any of the foregoing
Assignee Indemnified Parties that are based on or arise or result from any gross negligence or intentional misconduct of the Assignor
in connection with the transactions contemplated by this Agreement.

 

5.2            Indemnification
by Assignee. Assignee shall indemnify and hold harmless the Assignor and its Affiliates and their respective directors, officers,
employees, Affiliates and any other persons who control or are controlled by Assignor or any of its Affiliates, and their respective agents
and other representatives (collectively, the “Assignor Indemnified Parties”), from and against any and all loss, liability,
damages, claim or expenses (including, without limitation, legal fees) paid, sustained or incurred by any of the Assignor Indemnified
Parties that are based on or arise or result from:

 

(a)            any
breach of, or inaccuracy in, any of the representations or warranties of the Assignee set forth in this Agreement; or

 

(b)            any
breach of, or failure to perform or comply with, any covenant or other agreement of the Assignee set forth in this Agreement.

 

5.3            Notices;
Right of Parties to Defend. Promptly after the assertion of any claim that may give rise to a claim for indemnification from an indemnifying
party (“Indemnifying Party”) under this Article 5, an indemnified party (“Indemnified Party”)
shall notify the Indemnifying Party in writing of such claim.

 

5.4            Additional
Limitations. Neither the Assignor nor any of its affiliates shall have any liability for any inaccuracy in or breach of any representation
or warranty contained herein if the Assignee or any of its managers (including the ultimate individuals who control any manager), officers,
employees, attorneys or other representatives or advisors had actual knowledge on or before the Closing Date that such representation
or warranty was inaccurate or breached.

 

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ARTICLE 6.     MISCELLANEOUS.

 

6.1            DISCLAIMER.
EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS AGREEMENT, ASSIGNMENT OF THE ASSIGNED INTERESTS IS PROVIDED “AS-IS” AND THE
ASSIGNOR AND ITS AFFILIATES MAKE (AND HEREBY EXPRESSLY DISCLAIM) ANY REPRESENTATIONS OR WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING
ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT, AND ANY WARRANTIES THAT MAY ARISE
FROM COURSE OF PERFORMANCE, COURSE OF DEALING OR USAGE OF TRADE. THE ASSIGNEE IS AWARE OF THE PROHIBITION ON ASSIGNMENT IN THE SUPPLY
AGREEMENT RELATED TO THE A/R ERMONT OWES TO Commonwealth Alternative Care, Inc. AND
ACKNOWLEDGES THAT THE ASSIGNOR IS NOT MAKING ANY REPRESENTATION OR WARRANTY THAT THE ASSIGNMENT OF THE A/R REFERENCED HEREUNDER OR PURSUANT
TO ANY OTHER INSTRUMENT CONTEMPLATED HEREBY IS VALID OR ENFORCEABLE. FURTHERMORE, THE ASSIGNEE IS AWARE THAT THE ENTITIES PARTY TO THE
LOAN AGREEMENT ARE REGULATED BY THE MASSACHUSETTS CANNABIS CONTROL COMMISSION (THE “CCC”) AND ACKNOWLEDGES THAT ASSIGNOR
IS NOT RESPONSIBLE FOR ANY ACTION OF THE CCC OR ANY OTHER GOVERNMENTAL AUTHORITY AFFECTING ASSIGNEE FROM ENFORCING THE RIGHTS GRANTED
PURSUANT TO THE LOAN AGREEMENT.

 

6.2            Further
Assurances. From time to time after the Closing Date, at the reasonable request of the other party hereto and at the expense of the
party so requesting, the parties hereto shall execute and deliver to such requesting party such documents and take such other action as
such requesting party may reasonably request in order to consummate the transactions contemplated hereby.

 

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6.3            Notices.
All notices, requests, demands, waivers and communications required or permitted to be given under this Agreement shall be in writing
and shall be deemed to have been duly given if delivered (i) by hand (including by reputable overnight courier), (ii) by mail
(certified or registered mail, return receipt requested) or (iii) by email followed by overnight courier:

 

		(a)	If to Assignor, to:

 

SH Finance Company, LLC

[***]

 

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

 

TILT Holdings Inc.

[***]

 

		(b)	If to Assignee, to:

 

Teneo Funds SPVi LLC

[***]

 

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

 

Burns & Levinson LLP

[***]

 

or to such other person or address as any party
shall specify by notice in writing to the other party. All such notices, requests, demands, waivers and communications shall be deemed
to have been given (i) on the date on which so hand-delivered, (ii) on the third business day following the date on which so
mailed and (iii) on the date on which emailed and confirmed, except for a notice of change of address, which shall be effective only
upon receipt thereof.

 

6.4            Amendment,
Modification and Waiver. This Agreement may be amended, modified or supplemented at any time by written agreement of the Assignor
and Assignee. Any failure of the Assignor to comply with any term or provision of this Agreement may be waived by the Assignee, and any
failure of the Assignee to comply with any term or provision of this Agreement may be waived by Assignor, at any time by an instrument
in writing signed by or on behalf of such other parties, but such waiver shall not operate as a waiver of, or estoppel with respect to,
any subsequent or other failure to comply.

 

6.5            Entire
Agreement. This Agreement and the exhibits, schedules and other documents referred to herein which form a part hereof contain the
entire understanding of the parties hereto with respect to the subject matter hereof. This Agreement supersedes all prior agreements and
understandings, oral and written, with respect to its subject matter.

 

6.6            Publicity.
The parties hereto shall not issue any report, statement or press release or otherwise make any public statement with respect to this
Agreement and the transactions contemplated hereby without prior consultation with and approval of the other parties, except as may be
required by law or may be required by Assignee to enforce any rights and remedies under the Loan Agreement or any other Financing Agreements.
Assignor and its affiliates will file a press release in connection with the Closing, and will offer Assignee an opportunity to review
and provide comments to such press release.

 

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6.7            Severability.
Should any provision of this Agreement for any reason be declared invalid or unenforceable, such decision shall not affect the validity
or enforceability of any of the other provisions of this Agreement, which other provisions shall remain in full force and effect and the
application of such invalid or unenforceable provision to persons or circumstances other than those as to which it is held invalid or
unenforceable shall be valid and be enforced to the fullest extent permitted by law.

 

6.8            Binding
Effect; Assignment. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties
hereto and their respective heirs, executors, successors and permitted assigns. Except as contemplated herein, neither this Agreement,
the Loan Agreement, nor any of the rights, interests or obligations hereunder or thereunder shall be assigned, directly or indirectly,
by the Assignee without Assignor’s prior written connection; provided however, that Assignee shall be permitted to assign this Agreement
and any of its rights, interest or obligations hereunder to a subsidiary or affiliate of Assignee without the consent of Assignor provided
that after such assignment both Assignee and the subsidiary or affiliate to which the assignment is made are jointly and severally liable
for all obligations to Assignor hereunder. Any such assignment by the Assignee in contravention of the foregoing shall be void and ineffectual
and shall not bind or be recognized by the Assignor. The Assignor may assign this Agreement and any of its rights, interests or obligations
hereunder without the consent of the Assignee.

 

6.9            No
Third-Party Beneficiaries. This Agreement is not intended and shall not be deemed to confer upon or give any person except the parties
hereto and their respective successors and permitted assigns any remedy, claim, liability, reimbursement, cause of action or other right
under or by reason of this Agreement.

 

6.10          Fees
and Expenses. Whether or not the transactions contemplated hereby are consummated pursuant hereto, each party hereto shall pay all
fees and expenses incurred by it or on its behalf in connection with this Agreement, and the consummation of the transactions contemplated
hereby.

 

6.11          Counterparts.
This Agreement may be executed in counterparts, (and any counterpart may be executed by portable document format (pdf) or facsimile signature(s)),
each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

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6.12          Interpretation.
The article and section headings contained in this Agreement are solely for the purpose of reference, are not part of the agreement of
the parties and shall not in any way affect the meaning or interpretation of this Agreement. As used in this Agreement, the term “Affiliate”
shall have the meaning set forth in Rule 12b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934,
as amended.

 

6.13          Forum;
Service of Process. Any legal suit, action or proceeding brought by any party or any of its affiliates arising out of or based upon
this Agreement shall only be instituted in state court in Suffolk County, Commonwealth of Massachusetts, and each party waives any objection
which it may now or hereafter have to the laying of venue of any such proceeding, and irrevocably submits to the jurisdiction of such
courts in any such suit, action or proceeding.

 

6.14          Governing
Law. This Agreement shall be governed by the laws of the Commonwealth of Massachusetts, excluding choice of law principles that would
require the application of the laws of a jurisdiction other than the Commonwealth of Massachusetts.

 

6.15          WAIVER
OF JURY TRIAL. TO THE FULLEST EXTENT PERMITTED BY LAW, THE PARTIES HERETO HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF
ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER OF
THIS TRANSACTION. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT
AND THAT RELATE TO THE SUBJECT MATTER OF THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY
CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THE PARTIES HERETO ACKNOWLEDGE THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER
INTO A BUSINESS RELATIONSHIP, THAT EACH HAS ALREADY RELIED ON THE WAIVER IN ENTERING INTO THIS AGREEMENT AND THAT EACH WILL CONTINUE TO
RELY ON THE WAIVER IN THEIR RELATED FUTURE DEALINGS. THE PARTIES HERETO FURTHER WARRANT AND REPRESENT THAT EACH HAS REVIEWED THIS WAIVER
WITH ITS OR HIS, AS THE CASE MAY BE, LEGAL COUNSEL, AND THAT EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING
CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING, AND
THE WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT OR TO ANY OTHER DOCUMENTS
OR AGREEMENTS RELATING TO THE TRANSACTIONS CONTEMPLATED HEREBY. IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN
CONSENT TO A TRIAL BY THE COURT.

 

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6.16          Attorneys’
Fees, Costs and Expenses. In any action or proceeding between the Assignor and the Assignee arising out of or relating to this Agreement,
the prevailing party shall be entitled to recover its reasonable attorneys’ fees and other costs and expenses incurred, in addition
to any other relief to which it may be entitled.

 

6.17          Broker’s
Commissions. No broker’s or finder’s or placement fee or commission will be payable to any broker or agent engaged by
the parties hereto or any of their respective officers, directors or agents with respect to the transactions contemplated by this Agreement.
Assignor agrees to indemnify Assignee and hold it harmless from against any claim, demand or liability for broker’s or finder’s
or placement fees or similar commissions, whether or not payable by the Assignor, alleged to have been incurred in connection with such
transactions, other than any broker’s or finder’s fees payable to persons engaged by Assignee. Assignee agrees to indemnify
Assignor and hold it harmless from against any claim, demand or liability for broker’s or finder’s or placement fees or similar
commissions, whether or not payable by the Assignee, alleged to have been incurred in connection with such transactions, other than any
broker’s or finder’s fees payable to persons engaged by Assignor.

 

[Remainder of Page Intentionally Left Blank;
Signature Page Follows]

 

    15

    

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Agreement as of the day and year first above written.

 

	 	ASSIGNOR:
	 	 
	 	SH FINANCE COMPANY, LLC, a Delaware limited liability
    company, by its Sole Member, SEA HUNTER THERAPEUTICS, LLC, a Delaware limited liability company, by its Sole Member, JJ BLOCKER CO.,
    a Delaware corporation
	 	 
	 	 
	 	By: 	/s/ Gary Santo 
	 	Name: Gary Santo
	 	Title: President
	 	 
	 	 
	 	ASSIGNEE:
	 	 
	 	TENEO FUNDS SPVI LLC
	 	 
	 	By: TENEO CAPITAL MANAGEMENT, LLC, its Manager
	 	 
	 	By: 	/s/ Robert Leidy
	 	Name: Robert Leidy
	 	Title: Member

 

[Signature
Page to Assignment Agreement]

 

    

    

    

 

EXHIBIT A

 

Certificate of Manager of Assignor

 

[***]

 

    

    

    

 

EXHIBIT B

 

UCC-3 Financing Statement Amendment

 

    

    

    

 

EXHIBIT C

 

Good-Bye Letter

 

February 22, 2021

 

Via Hand Delivery (In accordance with Sections
12.3 and 12.5 of the Loan Agreement)

Ermont, Inc.

216 Ricciuti Drive

Quincy, MA 02169

Attn: John Gates

 

Re:     Loan
and Security Agreement by and between SH Finance Company, LLC (“Lender”) and Ermont, Inc., a Massachusetts nonprofit
corporation (“Ermont”) dated June 1, 2018 (the “Loan Agreement”)

 

Dear Ermont:

 

Reference is made to the above-referenced
Loan Agreement. All capitalized terms used but not defined herein shall have the meanings ascribed to them in the Loan Agreement. Please
be advised that effective as of February 22, 2021, the Loan Agreement, all other Financing Agreements, and all of Lender’s
right to receive payment of the Obligations and all of Lender’s other rights, title and interest under the Loan Agreement and the
other Financing Agreements will be assigned and transferred to:

 

	 	Teneo Funds SPVi LLC
	 	[***]

 

Effective as of February 22,
2021, please direct all correspondence, payments and other matters to the above contact. This transfer does not affect any term or condition
of the Loan Agreement or the other Financing Agreements, other than the terms directly related to the name and contact information of
the Lender.

 

	 	SH FINANCE COMPANY, LLC, a Delaware limited liability company, by its Sole Member, SEA HUNTER THERAPEUTICS, LLC, a Delaware limited liability company, by its Sole Member, JJ BLOCKER CO., a Delaware corporation
	 	 
	 	By:	                        

 

    

    

    

 

EXHIBIT D

 

Assignee’s Manager’s Certificate

 

[***]

 

    

    

    

 

ANNEX 1

 

Loan Balance

 

The amount of principal balance of the Loans, and outstanding
accrued but unpaid interest thereon is as follows:

 

	Principal:	 	$	13,139,799.94	 
	Interest:	 	$	7,937,748.60	 

 

    

    

    

 

ANNEX II

 

Material Financing Agreements

 

		1.	Loan and Security Agreement by and between Assignor and Ermont, Inc., dated June 1, 2018.

		2.	Uniform Commercial Code Financing Statement - No. 201847164580 filed with the Secretary of the Commonwealth
of the Commonwealth of Massachusetts

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