Document:

Exhibit 4.1

 

PROPERTY OPTION AGREEMENT

 

THIS PROPERTY OPTION AGREEMENT (the “Agreement”)
is made and entered into as of the 26th day of May, 2012.

 

	BETWEEN:	Knight Resources, a company having an office at
	 	9218 Ellerslie Road SW, Suite 110
	 	Edmonton, AB T6X 0K6
	 	 
	 	(herein called the “Optionor”)
	 	 
	 	OF THE FIRST PART
	 	 
	 	 
	AND:	Rush Exploration Inc., a company having an office at
	 	11215 Jasper Avenue, Suite 505
	 	Edmonton AB T5K 0L5
	 	 
	 	(herein called the “Optionee”)
	 	 
	 	OF THE SECOND PART

 

WHEREAS the Optionor has represented
that it has sole beneficial ownership in and to the property described in Schedule “A” attached hereto (the “Property);
and

 

WHEREAS the Optionor, subject to the
Net Smelter Royalty reserved to the Optionor, now wishes to grant to the Optionee the exclusive right and option to acquire an
undivided 100% right, title and interest in and to the Property on the terms and conditions hereinafter set forth;

 

NOW THEREFORE THIS AGREEMENT WITNESSETH
THAT in consideration of the premises, the mutual covenants herein set forth and the issuance of Fifty Million Shares of Optionee’s
fully paid and non-assessable Common Stock transferred by the Optionee to the Optionor (the receipt of w hi c h is hereby acknowledged),
the Parties hereto do hereby mutually covenant and agree as follows:

 

1.      Definitions

 

The following words, phrases and expressions
shall have the following meanings:

 

(a) “Expenditures”
includes all direct or indirect expenses [net of government incentives and not including payments to the Optionor pursuant to Section
4, paragraphs (a)(ii), (b)(ii), (c)(ii), (d)(ii) a n d (e) (ii) hereof of or incidental to Mining Operations. The certificate of
the Controller or other financial officer of the Optionee, together with a statement of Expenditures in reasonable detail shall
be prima facie evidence of such Expenditures; the parties hereto agree that property payments and property expenditures are separate
payments as outlined in Section 4;

 

 

    	Property Option Agreement	1 | Page

    	 

    

(b) “Facilities”
means all mines and plants, including without limitation, all pits, shafts, adits, haulageways, raises and other underground workings,
and all buildings, plants, facilities and other structures, fixtures and improvements, and all other property, whether fixed or
moveable, as the same may exist at any time in, or on the Property and relating to the operator of the Property as a mine or outside
the Property if for the exclusive benefit of the Property only;

 

(c) “Force Majeure”
means an event beyond the reasonable control of the Optionee that prevents or delays it from conducting the activities contemplated
by this Agreement other than the making of payments referred to in Section 4 herein. Such events shall include but not be limited
to acts of God, war, insurrection, action of governmental agencies reflecting an instability in government procedures, or delay
in permitting unacceptable to both Optionor and Optionee;

 

(d) “Mineral Products”
means the commercial end products derived from operating the Property as a mine:

 

(e) “Mining Operations”
includes:

 

(i) every kind of work done
on or with respect to the Property by or under the direction of the Optionee during the Option Period, as defined below, or pursuant
to an approved Work Program; and

 

(ii) without limiting the
generality of the foregoing, including all work capable of receiving assessment credits pursuant to the laws, rules, and regulations
of the applicable province and the work of assessment, geophysical, geochemical and geological surveys, studies and mapping, investigating,
drilling, designing, examining equipping, improving, surveying, shaft sinking, raising, cross-cutting and drifting, searching for,
digging, trucking, sampling, working and procuring minerals, ores and metals, in surveying and bringing any mineral claims to lease
or patent, in doing all other work usually considered to be prospecting, exploration, development, a feasibility study, mining
work, milling concentration, beneficiation or ores and concentrates, as well as the separation and extraction of Mineral Products
and all reclamation, restoration and permitting activities;

 

(f) “Net Smelter Royalty”
means that Net Smelter Royalty as defined in Schedule “B” attached hereto (“NSR”);

 

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(g) “Option” means
the option granted by the Optionor to the Optionee to acquire, subject to the NSR reserved to the Optionor, an undivided 100% right,
title and interest in and to the Property as more particularly set forth in Section 4;

 

(h) “Option Period”
means the period from the date hereof to the date at which the Optionee has performed its obligations to acquire its 100% interest
in the Property as set out in Section 4 hereof which ever shall be the lesser period;

 

(i) “Property”
means the mineral claims described in Schedule “A”;

 

(j) “Work Program”
means a program of work reasonably acceptable to both parties in respect of a particular Property, contained in a written document
setting out in reasonable detail:

 

(k) An outline of the Mining
Operations proposed to be undertaken and conducted on the Property, specifically stating the period of time during which the work
contemplated by the proposed program is to be done and performed

 

(ii) The
estimated cost of such Mining Operations including a proposed budget providing for estimated monthly cash requirements in advance
and giving reasonable details; and

 

(iii)
The identity and credentials of the person or persons undertaking the Mining Operations so proposed if not the Optionor, then a
person reasonably acceptable to both parties hereto.

 

2.      Headings

 

Any heading, caption
or index hereto shall not be used in any way in construing or interpreting any provision hereof

 

3.      Singular, Plural

 

Whenever the singular
or masculine or neuter is used in this Agreement, the same shall be construed as meaning plural or feminine or body politic or
corporate or vice versa, as the context so requires.

 

4.      Option

 

The Optionor hereby
grants to the Optionee, subject to the Net Smelter Royalty reserved to the Optionor, the sole and exclusive right and option (the
“Option”) to earn a I 00% interest in the Property exercisable as follows:

 

    	Property Option Agreement	3 | Page

    	 

    

 

 

		(a)	On or before May 26, 2013:

 

		(i)	The Optionee shall incur Expenditures of $100,000 CON on the property;

 

		(ii)	The Optionee shall pay $20,000 CON to the Optionor;

 

		(b)	On or before May 26,2014:

 

		(i)	Optionee shall incur Expenditures of $100,000 CON on the Property in addition to the expenditures referred to in clause (a)(i);

 

		(ii)	The Optionee shall pay $20,000 CON to the Optionor;

 

		(c)	On or before May 26,2015:

 

(i) The Optionee shall incur
Expenditures of $200,000 CON on the Property in addition to the expenditures referred to in clauses (a)(i) and (b)(i) hereof; and

 

		(ii)	The Optionee shall pay $40,000 CON to the Optionor;

 

		(d)	On or before May 26, 2016:

 

		(i)	The Optionee shall incur Expenditures of $300,000 CON on the Property in addition to the expenditures referred to in clauses
(a)(i), (b)(i) and (c)(i) hereof; and

 

(ii) The Optionee shall pay
$60,000 CON to the Optionor

 

		(e)	On or before May 26, 2017:

 

		(i)	The Optionee shall incur Expenditures of $300,000 CON on the Property in addition to the expenditures referred to in clauses
(a)(i), (b)(i),(c)(i) and (d)(i) hereof;

and

 

		(ii)	The Optionee shall pay $60,000 CON to the Optionor

 

Following which the Optionee shall be
deemed to have exercised the Option (the “Exercise Date”) and shall be entitled to an undivided 100% right, title and
interest in and to the Property with the full right and authority to equip the Property for production and operate the Property
as a mine subject to the rights of the Optionor to receive the NSR.

 

    	Property Option Agreement	4 | Page

    	 

    

The Optionor and
Optionee understand and confirm that all Expenditures incurred in a particular period, including any excess in the amount of Expenditures
required to be incurred to maintain the Option during such period, shall be carried over and included in the aggregate amount of
Expenditures for the subsequent period.

 

Notwithstanding
paragraphs (a)(i), (b)(i), (c)(i), (d)(i) and (e)(i) if the Optionee has not incurred the requisite Expenditures to maintain its
option in good standing prior to May 2 6, of any given year, the Optionee may pay to the Optionor within 60 days following the
expiry of such period, the amount of the deficiency and such amount shall thereupon be deemed to have been Expenditures incurred
by the Optionee during such period.

 

		(f)	This Agreement may be amended, supplemented or modified from time to time only by a written document
executed in the same manner as this Agreement.

 

		(g)	All figures are Canadian Funds.

 

		(h)	The doing of any act or the incurrence of any cash payments by the Optionee shall not obligate
the Optionee to do any further acts or make any further payments.

 

5.      Transfer of Title

 

Upon Optionee’s
completion of all requirements to earn I 00% interest in the Property, the Optionor will deliver or cause to be delivered, pursuant
to the Notice provisions below, a duly executed transfer of Property in favor of the Optionee (the “Optionee Transfer”).
The Optionee shall be entitled to record the Optionee Transfer with the appropriate government offices to effect transfer of legal
title of the Property into its own name upon the full and complete exercise of the Option by the Optionee. In the event the Optionee
Transfer is recorded, the Optionor shall be entitled to record notice of its NSR interest.

 

6.      Mining Operations During Option Period

 

During the Option
Period, the Optionor m a y provide its mineral exploration expertise on the Property, on a consultation basis for and on behalf
of the Optionee at commercially competitive rates. However, the Optionee has the exclusive right to determine what Expenditures
and Mining Operations it will perform and when they will be performed. The Optionor shall invoice time for consulting services
and related travel expenses from time to time and the prompt payment of such invoices when due shall constitute a portion of Expenditures
by the Optionee as contemplated under Section 4 hereof.

 

During the currency
of this Agreement, the Optionee, its servants, agents and workmen and any persons duly authorized by the Optionee, shall have the
right of access to and from and to enter upon and take possession of and prospect, explore and develop the Property in such manner
as the

 

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Optionee in its sole discretion may deem advisable and shall
have the right to remove and ship therefrom ores, minerals, metals, or other products recovered in any manner therefrom.

 

7.      Assignment

 

During the Option
Period, both parties shall have the right to sell, transfer, assign, mortgage, pledge its interest in this Agreement or its right
or interest in the Property. It will be a condition of any assignment under this Agreement that such assignee shall agree in writing
to be bound by the terms of this Agreement applicable to the assignor.

 

8.      Termination

 

This Agreement shall
forthwith terminate in circumstances where:

 

		(a)	The Optionee shall fail to comply with any of its obligations hereunder, subject to Force Majeure,
and within 30 days of receipt by the Optionee of written notice from the Optionor of such default, the Optionee has not:

 

		(i)	cured such default, or commenced proceedings to cure such default and prosecuted same to completion
without undue delay; or

 

		(ii)	given the Optionor notice that it denies that such default has occurred.

 

In the event that
the Optionee gives notice that it denies that a default has occurred, the Optionee shall not be deemed to be in default until the
matter shall have been determined finally through such means of dispute resolution as such matter has been subjected to by either
party; or

 

		(b)	The Optionee gives notice of termination to the Optionor, which it shall be at liberty to do at
any time after the execution of this Agreement. If and when the Optionee elects to terminate this Agreement, or terminate one of
the projects comprising the Property, at such time the Property or the specific project will be returned to the Optionor.

 

Upon the termination
of this Agreement under this Section 8, the Optionee shall cease to be liable to the Optionor in debt, damages, claim fees or otherwise,
other than to pay the claim fees as described in paragraph (b) of this Section 8 and all liabilities referred to in Section 11.

 

Upon termination
of this Agreement under this Section 8, the Optionee shall vacate the Property within a reasonable time after such termination,
but shall have the right of access to the Property for a period of six months thereafter for the purpose of removing its chattels,
machinery, equipment and fixtures.

 

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9.      Representations, Warranties and Covenants of the
Optionor

 

The Optionor represents,
warrants and covenants to and with the Optionee as follows:

 

		(a)	The Optionor is a company duly organized validly existing and in good standing under the laws of
Canada;

 

		(b)	The Optionor has full power and authority to carry on its business and to enter into this Agreement
and any agreement or instrument referred to or contemplated by this Agreement;

 

		(c)	Neither the execution and delivery of this Agreement, nor any of the agreements referred to herein
or contemplated hereby, nor the consummation of the transactions hereby contemplated hereby, nor the consummation of the transactions
hereby contemplated conflict with, result in the breach of or accelerate the performance required by, any agreement to which it
is a party;

 

		(d)	The execution and delivery of this Agreement and the agreements contemplated hereby will not violate
or result in the breach of the laws of any jurisdiction applicable or pertaining thereto or of its constating documents;

 

		(e)	The Agreement constitutes a legal, valid and binding obligation of the Optionor;

 

		(f)	The Property is accurately described in Schedule “A” and is in good standing under
the laws of the jurisdiction in which it is located and is free and clear of all liens, charges and encumbrances;

 

		(g)	The Optionor is the beneficial owner of the Property and has the exclusive right to enter into
this Agreement and all necessary authority to transfer its interest in the Property in accordance with the terms of this Agreement;

 

		(h)	No Person, firm or corporation has any proprietary or possessory interest in the Property other
than the Optionor, and no person, firm or corporation is entitled to any royalty or other payment in the nature of rent or royalty
on any minerals, ores, metals or concentrates or any other such products removed from the Property other than the government in
which it is located pursuant to statute; notwithstanding any Federal or Provincial royalties or net proceeds tax derived from mining
operations.

 

		(i)	Upon request by the Optionee, and at the sole cost of the Optionee, the Optionor shall deliver
or cause to be delivered to the Optionee copies of all available maps and other documents and data in its possession respecting
the Property. Nothing will be withheld, hidden, or kept from the Optionee, whether the data or information is held or not by the
Optionor; and

 

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		(j)	Subject to performance by the Optionee of its obligations under Section 4, during the Option Period,
the Optionor will keep the Property in good standing, free and clear of all liens, charges and encumbrances, will carry out all
Mining Operations on the Property in a miner-like fashion if the Optionee elects to use the mining expertise and consulting services
of the Optionor, will obtain all necessary licenses and permits as shall be necessary and will file all applicable work up to the
legal limits as assessment work under the laws of the applicable province.

 

10.      Representations, Warranties and Covenants of the
Optionee

 

The Optionee represent,
warrants and covenants to and with the Optionor that:

 

		(a)	The Optionee is a company duly organized validly existing and in good standing under the laws of
Canada;

 

		(b)	The Optionee has full power and authority to carry on its business and to enter into this Agreement
and any agreement or instrument referred to or contemplated by this Agreement;

 

		(c)	Neither the execution and delivery of this Agreement, nor any of the agreements referred to herein
or contemplated hereby, nor the consummation of the transactions hereby contemplated conflict with, result in the breach of or
accelerate the performance required by, any agreement to which it is a party;

 

		(d)	The execution and delivery of this Agreement and the agreements contemplated hereby will not violate
or result in the breach of the laws of any jurisdiction applicable or pertaining thereto or of its constating documents; and

 

		(e)	This Agreement constitutes a legal, valid and binding obligation of the Optionee.

 

11.      Indemnity and Survival of Representation

 

The representations
and warranties hereinbefore set out are conditions on which the parties have relied upon, and shall survive the acquisition of
any interest in the Property by the Optionee and each of the parties will indemnify and save the other harmless from all loss,
damage, costs, actions and suits arising out of or in connection with any breach of any representation, warranty, covenant, agreement
or condition made by them and contained in this Agreement.

 

The Optionor agrees
to indemnify and save harmless the Optionee from any liability to which it may be subject arising from any Mining Operations carried
out by the Optionor or at its direction on the Property. The Optionee agrees to indemnify and save harmless the Optionor from any
liability to which it may be subject arising from any Mining Operations carried out by the Optionee or at its direction on the
Property.

 

    	Property Option Agreement	8 | Page

    	 

    

The Optionor agrees
to indemnify and save harmless the Optionee from any liability arising from any and every kind of work done on or with respect
to the Property prior to the signing of this Agreement (the “Prior Operations”). Without limiting the generality of
the foregoing, Prior Operations includes all work capable of receiving assessment credits pursuant to the applicable province and
the work of assessment, geophysical, geochemical and geological surveys, studies and mapping, investigating, drilling, designing,
examining equipping, improving, surveying, shaft sinking, raising, cross-cutting and drifting, searching for, digging, trucking,
sampling, working and procuring minerals, ores and metals, in surveying and bringing any mineral claims to lease or patent, in
doing all other work usually considered to be prospecting, exploration, development, a feasibility study, mining work, milling,
concentration, beneficiation of ores and concentrates, as well as the separation and extraction of Mineral Products and all reclamation,
restoration and permitting activities.

 

12.      Confidentiality

 

The parties hereto
agree to hold in confidence all information obtained in confidence in respect of the Property or otherwise in connection with this
Agreement other than in circumstances where a party has an obligation to disclose such information in accordance with applicable
securities legislation, in which case such disclosure shall only be made after consultation with the other party.

 

13.      Notice

 

All notices, consents,
demands and requests (in this Section 13 called the “Communication”) required or permitted to be given under this Agreement
shall be in writing and may be delivered personally sent by telegram, by telex or telecopier or other electronic means or may be
forwarded by first class prepaid registered mail to the parties at their addresses first above written. Any Communication delivered
personally or sent by telegram, telex or telecopier or other electronic means including email shall be deemed to have been given
and received on the second business day next following the date of sending. Any Communication mailed as aforesaid shall be deemed
to have been given and received on the fifth business day following the date it is posted, addressed to the parties at their addresses
first above written or to such other address or addresses as either party may from time to time specify by notice to the other;
provided, however, that if there shall be a mail strike, slowdown or other labor dispute which might affect delivery of the Communication
by mail, then the Communication shall be effective only if actually delivered. Notice will be provided to each party should their
respective email address change.

 

14.      Further Assurances

 

Each of the parties
to this Agreement shall from time to time and at all times do all such further acts and execute and deliver all further deeds and
documents as shall be reasonably required in order to fully perform and carry out the terms of this Agreement.

 

    	Property Option Agreement	9 | Page

    	 

    

15.      Entire Agreement

 

The parties hereto
acknowledge that they have expressed herein the entire understanding and obligation of this Agreement and it is expressly understood
and agreed that no implied covenant, condition, term or reservation, shall be read into this Agreement relating to or concerning
any matter or operation provided for herein.

 

16.      Proper Law and Arbitration

 

This Agreement will
be governed by and construed in accordance with the laws of Canada. The parties hereto hereby irrevocably accede to the jurisdiction
of the courts of Canada. All disputes arising out of or in connection with this Agreement, or in respect of any defined legal relationship
associated therewith or derived therefrom, shall be referred to and finally resolved by a sole arbitrator by arbitration under
the laws of Canada.

 

17.      Enurement

 

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

 

18.      Default

 

Notwithstanding
anything in this Agreement to the contrary if any party (a “Defaulting Party”) is in default of any requirement herein
set forth the party affected by such default shall give written notice to the Defaulting Party specifying the default and the Defaulting
Party shall not lose any rights under this Agreement, unless thirty (30) days after the giving of notice of default by the affected
party the Defaulting Party has failed to take reasonable steps to cure the default by the appropriate performance and if the Defaulting
Party fails within such period to take reasonable steps to cure any such default, the affected party shall be entitled to seek
any remedy it may have on account of such default including, without limiting, termination of this Agreement.

 

19.      Payment

 

All references to
monies herein shall be in Canadian funds unless otherwise specified. The Optionee shall make payments for the Expenditures incurred
by the Optionor no later than 15 days after the receipt of invoices delivered by the Optionee to do any acts or make any payments
hereunder, and any act or payment or payments as shall be made hereunder shall not be construed as obligating the Optionee to do
any further act or make any further payment or payments.

 

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20.      Supersedes Previous Agreements

 

This Agreement supersedes
and replaces all previous oral or written agreements, memoranda, correspondence or other communications between the parties hereto
relating to the subject matter hereof.

 

21.      Counterparts.

 

This Agreement may
be signed in counterparts, each of which shall constitute an original and which collectively shall constitute one instrument.

 

22.      Restricted Securities

 

Optionor understands
that the Shares being received hereunder in consideration of the mutual covenants set forth herein have not been, and will not
be, registered under the Securities Act of 1933, by reason of a specific exemption from the registration pursuant to Regulation
S. The Optionor understands that the Shares being received from the Optionee are “restricted securities” under applicable
U.S. federal and state securities laws and that, pursuant to these laws, the Optionor must hold the Shares indefinitely unless
they are registered with the Securities and Exchange Commission and qualified by state authorities, or an exemption from such registration
and qualification requirements is available including, but not limited to, Rule 144. The Optionor acknowledges that the Company
has no obligation to register or qualify

Common Stock received herein.

 

IN WITNESS WHEREOF
the Parties hereto have duly executed this Agreement effective as of the date first above written.

 

 

OPTIONOR:

 

 

	By:	/s/	 
	Its:	 	 

 

 

 

OPTIONEE:

 

 

	By:	/s/	 
	Its:	 	 

 

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SCHEDULE “A”

 

	Property Name:	Mudersbach Property 
	 	 
	Beneficial Owner:	Knight Resources 

 

Claim Numbers:

 

List of unpatented claims located in Sections 5, 6, 31, 32
of TS/6N, R17W G&SR B&M, La Paz County, Arizona

 

 

	CLAIM NAME	BENEFICIAL OWNER	AMC NUMBER
	 	 	 
	PL028	Knight Resources	411331
	PL030	Knight Resources	411333
	PL032	Knight Resources	411335
	PL034	Knight Resources	411337
	PL036	Knight Resources	411339
	PL037	Knight Resources	411340
	PL038	Knight Resources	411341
	PL039	Knight Resources	411342
	PL040	Knight Resources	411343
	PL041	Knight Resources	411344
	PL042	Knight Resources	411345
	PL043	Knight Resources	411346
	PL044	Knight Resources	411347
	PL045	Knight Resources	411348
	PL046	Knight Resources	411349
	PL047	Knight Resources	411350
	PL048	Knight Resources	411351
	PL049	Knight Resources	411352
	PL050	Knight Resources	411353
	PL051	Knight Resources	411354
	PL052	Knight Resources	413312
	PL053	Knight Resources	413313
	PL054	Knight Resources	413314
	PL055	Knight Resources	413315
	PL056	Knight Resources	413316
	PL057	Knight Resources	413317
	PL058	Knight Resources	413318
	PL059	Knight Resources	413319
	PL060	Knight Resources	413320
	PL061	Knight Resources	413321
	PL062	Knight Resources	413322
	PL063	Knight Resources	413323

 

    	Property Option Agreement	12 | Page

    	 

    

SCHEDULE “B”

 

“Net Smelter Return” shall
mean the aggregate proceeds received by the Optionee from time to time from any smelter or other purchaser from the sale of any
ores, concentrates, metals or any other material of commercial value produced by and from the Property after deducting from such
proceeds the following charges only to the extent that they are not deducted by the smelter or other purchaser in computing the
proceeds:

 

		(a)	The cost of transportation of the ores, concentrates or metals from the Property to such smelter or other purchaser, including
related insurance;

 

		(b)	Smelting and refining charges including penalties; and

 

The Optionee shall reserve and pay
to the Optionor a NSR equal to Three Percent (3%) percent of Net Smelter Return.

 

Payment of NSR payable to the Optionor
hereunder shall be made quarterly within thirty (30) days after the end of each calendar quarter during which the Optionee receives
Net Smelter Returns in Canadian dollars or in kind bullion at the discretion of the Optionor. Within (60) days after the end of
each calendar quarter for which the NSR for such year shall be audited by the Optionee and any adjustments in the payments of NSR
to the Optionor shall be made forthwith alter completion of the audit. All payments of NSR to the Optionor for a calendar year
shall be deemed final and in full satisfaction of all obligations of the Optionee in respect thereof if such payments or the calculations
thereof are not disputed by the Optionor of the same audited statement. The Optionee shall maintain accurate records relevant to
the determination of the NSR and the Optionor or its authorized agent, shall be permitted the right to examine such records at
all reasonable times.exhibit_10-36.htm

Exhibit 10.36

 

EXECUTION VERSION

 

SALE AND PURCHASE AGREEMENT

 

This Sale and Purchase Agreement (the "Agreement"), is made and entered into this 29 day of December, 2013, by and between Infinity Augmented Reality Inc. (the "Purchaser"), on the one hand, and Motti Kushnir ("Motti") and Matan Protter ("Matan" and together with Motti, the "Sellers" and each a "Seller"). Each of the Sellers and the Purchaser shall be referred to as a "Party" and together as the "Parties".

 

WHEREAS, the Sellers are the owners of certain intellectual property; and

 

WHEREAS, the Sellers desire to sell such intellectual property to the Purchaser, and the Purchaser desires to purchase it, subject to the terms and conditions set forth herein.

 

NOW, THEREFORE, in consideration of the mutual representations, warranties, and covenants contained herein, the Parties hereby agree as follows:

 

	
1.

	
Sale of the IP.

 

	
  

	
a.

	
The Sellers hereby fully and forever irrevocably sell, assign, grant, convey and transfer, without any qualifications, limitations, conditions or reservations of any kind whatsoever, exclusively unto the Purchaser, its successors, assigns or nominees, all of their rights, title and interest in and to the intellectual property listed in Exhibit A attached hereto (the "Acquired IP"), together with any copies, in whatever form, written or electronically.

 

	
  

	
b.

	
The Sellers shall execute and deliver such conveyance and instruments and take such actions as may be necessary or desirable to evidence more fully the transfer of ownership of the Acquired IP to the Purchaser and any application for registration, or registration thereof, all as requested by the Purchaser. The Sellers therefore agree that, if requested by the Purchaser, they will: (i) execute, acknowledge, and deliver any affidavits or documents of assignment and conveyance regarding the Acquired IP; (ii) communicate to the Purchaser, its successors, assigns and representatives, all facts known to, and documents available to, them relating to the Acquired IP and the history thereof; (iii) provide testimony in connection with any proceeding affecting the right, title, or interest of the Purchaser in and to the Acquired IP; and (iv) generally perform any other acts, and/or execute any document or written instrument, deemed necessary by the Purchaser to carry out the foregoing assignment and for aiding in securing, maintaining and enforcing proper protection for the Acquired IP. All such actions will be at the Purchaser's expense.

 

	
2.

	
Consideration.

 

	
  

	
a.

	
In consideration for the sale of the Acquired IP, the Purchaser shall issue to the Sellers on the date hereof, 84,226 shares of common stock of the Purchaser (the "Shares"), which shall be restricted for a period of six months from the date of issuance or such longer period as may be required by the US Securities Laws.

 

  

  

  

 

	
  

	
b.

	
The Sellers undertake to take all actions and to sign all documents required, at the discretion of the Purchaser, in order to issue the Shares (including an undertaking not to make any disposition of any kind in the Shares during the restriction period)

 

	
  

	
c.

	
Any tax liability in connection with the sale of the Acquired IP or the issuance of the Shares, shall be borne solely by the Sellers.

 

	
3.

	
Representations and Warranties of the Sellers.

 

The Sellers, jointly and severaly, represent and warrant to the Purchasr that each of the statements set forth below is true and correct in all respects. Such representations, warranties, covenants and agreements constitute a material inducement to the Purchaser to enter into this Agreement, to purchase the Acquired IP and to consummate the transactions contemplated hereby.

 

	
  

	
a.

	
Authorization of Transaction. Each Seller has full power and authority to execute and deliver this Agreement and to perform its obligations hereunder and thereunder. This Agreement constitute the valid and legally binding obligations of each Seller, enforceable in accordance with their respective terms, subject, as to enforceability, to (a) laws of general application relating to bankruptcy, insolvency and the relief of debtors, and (b) rules of law governing specific performance, injunctive relief and other equitable remedies.

 

	
  

	
b.

	
Noncontravention. Neither the execution and the delivery of this Agreement, nor the consummation of the transactions contemplated hereby will (i) violate any law or order of any governmental body or court to which a Seller or any of the Acquired IP is subject. Neither Seller is required to give any notice to, make any filing with, or obtain any authorization, consent or approval of any governmental body or other person in order for the Parties to consummate the transactions contemplated by this Agreement (including the execution, delivery and performance thereof).

 

	
  

	
c.

	
Title. The Sellers are the sole owners of the Acquired IP, and no third party has any rights with respect thereto. The Sellers have good and valid title to and interest in all of Acquired IP, free and clear of any securities interests, pledges, charges, encumbrances, liens, attachments, or any other third party right of any nature whatsoever (collectively, "Liens"). On the date hereof, the Purchaser will receive good and valid title to the Acquired IP, free and clear of any Liens.

 

	
  

	
d.

	
Acquired IP. Neither of the Sellers has, in connection with the Acquired IP, directly or indirectly, interfered with, infringed upon, misappropriated, or violated any material intellectual property rights of any third party or received any charge, complaint, claim, demand or other notice or correspondence alleging any such interference, infringement, misappropriation or violation (including any claim that Sellers must license or refrain from using any intellectual property rights of any third party). To the Sellers' Knowledge, no third party has interfered with, infringed upon, misappropriated or violated any of the Acquired IP.

 

  

  

  

 

The Acquired IP constitutes all of the intellectual property developed, invented and/or conceived by the Sellers in connection with the PlayGround concept, including all copies thereof in whatever form or medium.

 

	
  

	
e.

	
Liabilities and Obligations. There are no liabilities and/or obligations which are related to, derived, arise or originating from the Acquired Assets, which, following the sale of the Acquired Assets hereunder, shall be imposed on or assumed by the Purchaser. Further, there are no claims, demands, litigations or proceedings, by a governmental authority or a third party, pending or to the knowledge of the Sellers, threatened, which are related to the Acquired Assets.

 

	
4.

	
Representations and Warranties of the Purchaser.

 

The Purchaser represents and warrants to the Sellers that each of the statements set forth below is true and correct in all material respects. Such representations, warranties, covenants and agreements constitute a material inducement to the Sellers to enter into this Agreement, to sell the Acquired IP and to consummate the transactions contemplated hereby.

 

	
  

	
a.

	
Authorization of Transaction. The Purchaser has full power and authority to execute and deliver this Agreement and to perform its obligations hereunder and thereunder. This Agreement constitute the valid and legally binding obligations of the Purchaser, enforceable in accordance with their respective terms, subject, as to enforceability, to (a) laws of general application relating to bankruptcy, insolvency and the relief of debtors, and (b) rules of law governing specific performance, injunctive relief and other equitable remedies.

 

	
  

	
b.

	
Noncontravention. To the best of its knowledge, neither the execution and the delivery of this Agreement, nor the consummation of the transactions contemplated hereby will (i) violate any law or order of any governmental body or court to which the Purchaser is subject. To the best of its knowledge, the Purchaser is not required to give any notice to, make any filing with, or obtain any authorization, consent or approval of any governmental body or other person in order for the Parties to consummate the transactions contemplated by this Agreement (including the execution, delivery and performance thereof).

 

	
5.

	
Liability and Indemnification.

 

	
  

	
a.

	
The Sellers shall indemnify, defend (upon request) and hold harmless Purchaser, its officers, employees, members, affiliates (and their respective officers, directors, and members), and agents (collectively, the "Indemnified Parties") from and against any action, loss, liability, damage, claim, fine, penalty, lien or expense, including legal costs, reasonable attorneys' fees, and expenses, (collectively, "Loss") to the extent the same arises out of (i) any breach by any of the Sellers of any representation, warranty, agreement, or covenant made by either of them herein, (ii) any tax, including use or sales tax, for which Sellers is or may be liable in respect of the Acquired IP prior to the date hereof or the sale hereunder,  or (iii) any claim arising out of or in connection with the Acquired IP prior to the date hereof.

 

  

  

  

 

	
  

	
b.

	
Each Indemnified Party will give prompt notice to the Sellers of any claim or condition to which the foregoing indemnification covenant relates, within 7 business days of becoming aware of the same. The Sellers shall have the right to participate in the defense of such claim, at their expense with counsel of its choice, but the respective Indemnified Party or Parties shall retain the right at all times to control the defense of such claims and in no event shall the Sellers settle any such claim without the consent of the respective Indemnified Party or Parties.

 

	
  

	
c.

	
Notwithstanding anything to the contrary stated herein or otherwise, and to the extent permissible under any mandatory law or regulation, the Sellers' liability and indemnification obligations hereunder shall not exceed NIS100,000, being the amount equal to the initial value of the Shares issued to them as consideration for the sale of the Acquired IP hereunder, except in the event of fraud or willful misconduct by the Sellers.

 

	
  

	
6.

	
Confidentiality. The Parties agree to keep the terms of this Agreement (including its existence) and the nature of their relationship in strict confidence.

 

	
  

	
7.

	
Non-assignability. The Sellers may not assign, sub-contract or transfer any or all of their rights or obligations under this Agreement.

 

	
  

	
8.

	
Entire Agreement. This Agreement constitutes the entire understanding between the Parties pertaining to the subject matter hereof and supersedes all prior agreements, understanding, negotiations and discussions, whether oral or written, regarding the subject matter. No amendment of any provision of this Agreement shall be valid unless the same shall be in writing and signed by each Party. No waiver by any Party of any default, misrepresentation or breach of warranty or covenant hereunder, whether intentional or not, shall be deemed to extend to any prior or subsequent default, misrepresentation or breach of warranty or covenant hereunder or affect in any way any rights arising by virtue of any prior or subsequent such occurrence

 

	
  

	
9.

	
Law.   This Agreement shall be governed by and construed in accordance with the laws of state of Israel.

 

	
  

	
10.

	
Expenses. All the expenses incurred by a Party in connection with the preparation of the agreements or documents required in order to effectuate the matters hereof shall be borne by such Party.

 

[Signature page to follow]

 

  

  

  

 

IN WITNESS WHEREOF, the parties hereto have executed this Sale and Purchase Agreement of the date first above written.

 

	 	
INFINITY AUGMENTED REALITY INC.

	 
	 	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title: 	 	 
	 	 	 	 
	 	
MOTTI KUSHNIR

	 
	 	 	 	 
	 	
MATAN PROTTER

	 
	 	 	 	 

 

  

  

  

Exhibit A

 

List of Intellectual Property

 

	
1.

	
Libraries of code demonstrating the following abilities:

	
  

	
1.1.

	
Detecting textured planes, by using stereoscopic 2D cameras, for the use of placing AR elements on/relative to them;

	
  

	
1.2.

	
Computing camera navigation (estimation of location and orientation) relative to the detected plane, for the use of displaying the AR elements while adjusting for the camera motion.

	
2.

	
Technical documentation, including:

	
  

	
2.1.

	
Description of identified algorithm challenges and proposed solutions;

	
  

	
2.2.

	
Proposed system architecture; and

	
  

	
2.3.

	
Chief scientist technology overview

 

	
3. 

	
Marketing materials – presentations, movies and business model

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