Document:

Warrant
      Purchase Agreement

    

    

    

    

    

    As
      of
      November 20, 2006

    

    To
      the
      Board of Directors of 

    Columbus
      Acquisition Corp.:

    

    Gentlemen:

    

    The
      undersigned hereby subscribes for and agrees to purchase 3,000,000 Warrants
      (“Insider Warrants”) at $1.00 per Insider Warrant, of Columbus Acquisition Corp.
      (the “Corporation”) for an aggregate purchase price of $3,000,000 (“Purchase
      Price”). The purchase and issuance of the Insider Warrants shall occur
      simultaneously with the consummation of the Corporation’s initial public
      offering of securities (“IPO”) which is being underwritten by Ladenburg Thalmann
& Co. Inc. (“Ladenburg”). The Insider Warrants will be sold to the
      undersigned on a private placement basis and not part of the IPO. 

    

    At
      least
      24 hours prior to the effective date of the registration statement filed in
      connection with the IPO (“Registration Statement”), the undersigned shall
      deliver the Purchase Price to LeBoeuf, Lamb, Greene & MacRae LLP (“LLGM”) to
      hold in a non-interest bearing account until the Corporation consummates the
      IPO. Simultaneously with the consummation of the IPO, LLGM shall deposit the
      Purchase Price, without interest or deduction, into the trust fund (“Trust
      Fund”) established by the Corporation for the benefit of the Corporation’s
      public stockholders as described in the Corporation’s Registration Statement,
      pursuant to the terms of an Investment Management Trust Agreement to be entered
      into between the Corporation and Continental Stock Transfer & Trust Company.
      In the event that the IPO is not consummated within 14 days of the Purchase
      Price being delivered to LLGM, LLGM shall return the Purchase Price to the
      undersigned, without interest or deduction.

    

    The
      undersigned represents and warrants that it has been advised that the Insider
      Warrants have not been registered under the Securities Act; that it is acquiring
      the Insider Warrants for its account for investment purposes only; that it
      has
      no present intention of selling or otherwise disposing of the Insider Warrants
      in violation of the securities laws of the United States; that it is an
“accredited investor” as defined by Rule 501 of Regulation D promulgated under
      the Securities Act of 1933, as amended (the “Securities Act”); and that it is
      familiar with the proposed business, management, financial condition and affairs
      of the Corporation.

    

    Moreover,
      the undersigned agrees that it shall not sell or transfer the Insider Warrants
      until 30 days after the Corporation consummates a merger, capital stock
      exchange, asset acquisition or other similar business combination with an
      operating business (“Business Combination”) and acknowledges that the Insider
      Warrants will be held in escrow during such time period and the certificates
      for
      such Insider Warrants shall contain a legend indicating such restriction on
      transferability. 

    

    The
      Corproation hereby acknowledges and agrees that, in the event the Corporation
      calls the Warrants for redemption pursuant to that certain Warrant Agreement
      to
      be entered into by the Corporation and Continental Stock Transfer & Trust
      Company in connection with the Corporation’s IPO, the Corporation shall allow
      the undersigned to exercise any Insider Warrants by surrendering such Warrants
      for that number of shares of common stock of the Corporation, par value $.0001
      per share ("Common Stock"), equal to the quotient obtained by dividing (x)
      the
      product of the number of shares of Common Stock underlying the Warrant,
      multiplied by the difference between the Warrant exercise price and the “Fair
      Market Value” (defined below) by (y) the Fair Market Value. The “Fair Market
      Value” shall mean the average reported last sale price of the Common Stock for
      the 10 trading days ending on the third trading day prior to the date on which
      the notice of redemption is sent to holders of Warrants.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    The
      terms
      of this agreement and the restriction on transfers with respect to the Insider
      Warrants may not be amended without the prior written consent of
      Ladenburg.

     

    
      	 	Very truly yours,
	 	 	 
	 	 	 
	 	
              COLUMBUS
                ACQUISITION HOLDINGS LLC

            
	 
 	 
 	 
 
	 	By:  	/s/ Andrew
              Intrater
	 	
              

              Name:
                Andrew Intrater

              Title:
                Manager

            
	 	 

    

     

    Agreed to:

     

    COLUMBUS ACQUISITION CORP.

       

    
      	 	 	 	 
	/s/ Andrew
              Intrater	 	 	 
	
              

              Name:
                Andrew Intrater

              Title:
                Chief Executive Officer

            	 	 	
            

    

     

    LEBOEUF,
      LAMB, GREENE & MACRAE LLP

    

    
      	 	 	 	 
	/s/ Andrew
              Hulsh	 	 	 
	
              

              Name:
                Andrew Hulsh

              Title:
                Partner

            	 	 	
            

    

     

    LADENBURG
      THALMANN & CO. INC.

     

    
      	 	 	 	 
	/s/ Steven
              Kaplan	 	 	 
	
              

              Name:
                Steven Kaplan

              Title:
                Managing DirectorTHIS
        NOTE
        HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
        "1933
        ACT"), OR UNDER THE PROVISIONS OF ANY APPLICABLE STATE SECURITIES LAWS, BUT
        HAS
        BEEN ACQUIRED BY THE REGISTERED HOLDER HEREOF FOR PURPOSES OF INVESTMENT
        AND IN
        RELIANCE ON STATUTORY EXEMPTIONS UNDER THE 1933 ACT, AND UNDER ANY APPLICABLE
        STATE SECURITIES LAWS. THIS NOTE MAY NOT BE SOLD, PLEDGED, TRANSFERRED OR
        ASSIGNED EXCEPT IN A TRANSACTION WHICH IS EXEMPT UNDER PROVISIONS OF THE
        1933
        ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN EFFECTIVE
        REGISTRATION STATEMENT; AND IN THE CASE OF AN EXEMPTION, ONLY IF THE COMPANY
        HAS
        RECEIVED AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH TRANSACTION
        DOES NOT REQUIRE REGISTRATION OF THIS NOTE. 

       

    

    GAMMACAN
      INTERNATIONAL, INC.

     

    

    
      	
              November
                20, 2006

            	
              $350,000.00

            

    

        

    8%
      PROMISSORY NOTE

    
 

    
      FOR
        VALUE RECEIVED,
        the
        undersigned, GammaCan
        International, Inc.,
        a
        Delaware corporation (the “Company”), hereby promises to pay the individuals and
        entities set forth on Schedule A, annexed hereto, (collectively, the “Lenders”)
        on November 20, 2007 (the “Maturity Date”) the principal sum of Three
        Hundred Fifty Thousand Dollars ($350,000) and
        interest on the outstanding principal sum hereof at the rate of eight percent
        (8%) per annum (this "Note"), as set forth herein, pursuant to the following
        terms: 

       

      1. Principal
        and Interest.
        Principal
        and interest shall be payable on the Maturity Date in like coin or currency
        to
        the Lenders hereof at the office of the Company as hereinafter set forth,
        provided that any payment otherwise due on a Saturday, Sunday or legal Bank
        holiday may be paid on the following business day. In the event that for
        any
        reason whatsoever any interest or other consideration payable with respect
        to
        this Note shall be deemed to be usurious by a court of competent jurisdiction
        under the laws of any state governing the repayment hereof, then so much
        of such
        interest or other consideration as shall be deemed to be usurious shall be
        held
        by the holder as security for the repayment of the principal amount hereof
        and
        shall otherwise be waived

       

      2. Right
        of Prepayment.
        Upon 5
        days’ written notice delivered to the Lenders the Company at its option shall
        have the right to prepay a portion or all outstanding principal of the Note,
        provided, however, that the Lenders may choose within 5 days of receipt of
        notice of the Company’s intention to repay to exercise its right of conversion
        under Section 3 hereunder. There shall be no prepayment fee or
        penalty.

       

      3. Conversion
        to Debt or Equity.
        At the
        sole discretion of the Lenders, the entire amount outstanding under the Note
        may
        be converted at any time prior to repayment in full into debt or equity of
        the
        Company on the same terms as any debt or equity financing that the Company
        may
        issue or grant during the 12 month period immediately following the date
        of this
        Note. The conversion right of the Lenders may be exercised at the time of
        the
        Company’s issuance of the said financing equity or at any time thereafter up to
        the date of full payment of the Note. 

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      4. Event
        of Default.
        An
“Event
        of Default”
shall
        be deemed to have occurred upon the occurrence of any of the following: (i)
        the
        Company should fail for any reason or for no reason to make any payment of
        the
        principal, interest, costs, indemnities, or expenses pursuant to this Note
        within ten (10) days of the date due as prescribed herein; (ii) the Company
        shall: (1) commence a voluntary case for relief as a debtor under the
        United States Bankruptcy Code; (2) file with or otherwise submit to any
        governmental authority any petition, answer or other document seeking:
        (A) reorganization, (B) an arrangement with creditors or (C) to
        take advantage of any other present or future applicable law respecting
        bankruptcy, reorganization, insolvency, readjustment of debts, relief of
        debtors, dissolution or liquidation; (3) be adjudicated a bankrupt or
        insolvent by a court of competent jurisdiction, or (4) sell or otherwise
        dispose
        of any material assets of the Company or any its material subsidiaries without
        the prior written consent of the Lenders, or (5) be in material breach of
        any
        agreement that is material to the Company for a period in excess of 10 days
        .
        Upon an Event of Default (as defined above), the entire principal balance
        outstanding under this Note, together with accrued unpaid interest thereon,
        shall be immediately be due and payable, without further notice to the
        Company.

       

      5. Maximum
        Interest Rate.
        In no
        event shall any agreed to or actual interest charged, reserved or taken by
        the
        Lenders as consideration for this Note exceed the limits imposed by New York
        law. In the event that the interest provisions of this Note shall result
        at any
        time or for any reason in an effective rate of interest that exceeds the
        maximum
        interest rate permitted by applicable law, then without further agreement
        or
        notice the obligation to be fulfilled shall be automatically reduced to such
        limit and all sums received by the Lenders in excess of those lawfully
        collectible as interest shall be applied against the principal of this Note
        immediately upon the Lenders’ receipt thereof, with the same force and effect as
        though the Company had specifically designated such extra sums to be so applied
        to principal and the Lenders had agreed to accept such extra payment(s) as
        a
        premium-free prepayment or prepayments.

       

      6. Cancellation
        of Note.
        Upon
        the repayment by the Company of all of its obligations hereunder to the Lenders,
        including, without limitation, the principal amount of this Note, plus accrued
        but unpaid interest, the indebtedness evidenced hereby shall be deemed canceled
        and paid in full. Except as otherwise required by law or by the provisions
        of
        this Note, payments received by the Lenders hereunder shall be applied first
        against expenses and indemnities, next against interest accrued on this Note,
        and next in reduction of the outstanding principal balance of this
        Note.

       

      7. Severability.
        If any
        provision of this Note is, for any reason, invalid or unenforceable, the
        remaining provisions of this Note will nevertheless be valid and enforceable
        and
        will remain in full force and effect. Any provision of this Note that is
        held
        invalid or unenforceable by a court of competent jurisdiction will be deemed
        modified to the extent necessary to make it valid and enforceable and as
        so
        modified will remain in full force and effect.

       

      8. Amendment
        and Waiver.
        This
        Note may be amended, or any provision of this Note may be waived, provided
        that
        any such amendment or waiver will be binding on a party hereto only if such
        amendment or waiver is set forth in a writing executed by the parties hereto.
        The waiver by any such party hereto of a breach of any provision of this
        Note
        shall not operate or be construed as a waiver of any other breach.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      9. Successors.
        Except
        as otherwise provided herein, this Note shall bind and inure to the benefit
        of
        and be enforceable by the parties hereto and their permitted successors and
        assigns.

       

      10.
        Assignment.
        This
        Note shall not be directly or indirectly assignable or delegable by the Company.
        The Lenders may assign this Note as long as such assignment complies with
        the
        Securities Act of 1933, as amended.

       

      11. No
        Strict Construction.
        The
        language used in this Note will be deemed to be the language chosen by the
        parties hereto to express their mutual intent, and no rule of strict
        construction will be applied against any party.

       

      12. Further
        Assurances.
        Each
        party hereto will execute all documents and take such other actions as the
        other
        party may reasonably request in order to consummate the transactions provided
        for herein and to accomplish the purposes of this Note.

       

      13. Governing
        Law.
        This
        Agreement shall be governed and construed in accordance with the laws of
        the
        State of New York without regard to any applicable principles of conflicts
        of
        law.

       

      14. No
        Inconsistent Agreements.
        None of
        the parties hereto will hereafter enter into any agreement, which is
        inconsistent with the rights granted to the parties in this Note.

       

      15. Entire
        Agreement.  This
        Note (including any recitals hereto) set forth the entire understanding of
        the
        parties with respect to the subject matter hereof, and shall not be modified
        or
        affected by any offer, proposal, statement or representation, oral or written,
        made by or for any party in connection with the negotiation of the terms
        hereof,
        and may be modified only by instruments signed by all of the parties
        hereto.

       

    

    
      IN
        WITNESS WHEREOF,
        this
        Promissory Note is executed by the undersigned as of the date hereof.

       

      
        	 	 	 
	 	GAMMACAN
                INTERNATIONAL, INC.
	 
 	 
 	 
 
	 	By:  	/s/ Patrick
                Schnegelsberg
	 	
                
                  

                

                Patrick
                  Schnegelsberg

                
                  Chief
                    Executive Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]