Document:

Blueprint

  EXHIBIT
4.29

	

Extension of Debenture Maturity Date

 

	

TO

 

	

Intellipharmaceutics
International Inc. (the “Company”)

 

	

RE:

 

	

Debenture
dated January 10, 2013, with an original face amount of
US$1,500,000 issued by the Company to Dr. Isa Odidi and Dr. Amina
Odidi (the “Debenture”) and the Maturity Date (as
defined in the Debenture) of such Debenture

 

 

 

The
undersigned hereby agree that the Maturity Date of the Debenture
(currently October 1, 2018) is extended to April 1,
2019.

 

DATED
as of October 1, 2018.

 

 

	

/s/ Isa Odidi

Isa
Odidi

	
 

	

/s/Amina Odidi

Amina
OdidiMANAGEMENT
SERVICES AGREEMENT

 

THIS
AGREEMENT dated as of June 4 , 2018, made between Uranium Trading Corporation, a corporation established under the laws of the
State of Delaware (“UTC”), and 92 Trading LLC, a limited liability company established under the laws of the
State of Nevada (the “Manager”).

 

WHEREAS
the Manager intends to provide management services to UTC;

 

WHEREAS
UTC is a corporation which directly invests its assets primarily in natural uranium oxide in concentrates (“U3O8”)
and uranium hexafluoride (“UF6”) and requires the services of the Manager to attend to the management
and administration of its business and affairs as directed by the board of directors of UTC (the “Board”);

 

WHEREAS
the Manager is willing to provide such services to UTC upon and subject to the terms and conditions hereinafter set forth;

 

NOW
THEREFORE, in consideration of the premises and the mutual covenants hereinafter set forth, the parties hereto agree as follows:

 

1.
Appointment 

 

UTC
hereby appoints the Manager effective from and after June 4, 2018 as the manager of UTC with full authority and responsibility
to manage and administer the business and affairs of UTC, and the Manager accepts such appointment and agrees to act in such capacity
upon and subject to the terms set forth in this management services agreement (the “Agreement”).

 

2.
Responsibilities of the Manager 

 

The
management responsibilities of the Manager hereunder shall include the general administration of UTC’s business and affairs
in accordance with the policies and directions established from time to time by the Board and, in particular but subject to Section
7 hereof, shall include, at the Manager’s expense:

 

		(a)	using
                                         commercially reasonable efforts to arrange for, and complete, for and on behalf of UTC,
                                         through industry-standard tenders or through direct negotiations in off-market transactions,
                                         the purchase and sale of U3O8 and UF6 or EUP as applicable
                                         at the best prices available to it over a prudent period of time as requested and approved
                                         by the Board from time to time; 

 

		(b)	providing
                                         to the Board, delivery and payment particulars in respect of each purchase and sale of
                                         U3O8 and UF6 or EUP as applicable; 

 

		(c)	pursuant
                                         to Section 3, arranging with Facilities (as defined below) for the storage of U3O8
                                         and UF6, or EUP as applicable, owned by UTC including arrangements regarding
                                         indemnities or insurance for the loss of such U3O8 and UF6
                                         or EUP as applicable in accordance with industry practices; 

 

		(d)	preparing,
                                         on a monthly basis, a report on the net asset value of each common share of UTC (the
                                         “NAV”), which shall be determined by multiplying the quantity of U3O8
                                         and UF6 or EUP as applicable held by or for UTC by the last spot price
                                         for U3O8 and UF6 or EUP as applicable published by Ux
                                         Consulting Company, LLC for the month, plus cash and any other assets held by UTC, on
                                         the last day of such month, less any and all outstanding payables, indebtedness and any
                                         other liabilities of UTC, divided by the total number of outstanding shares of Common
                                         Stock of UTC.; 

 

    	 	 	 

    	 

    

 

		(e)	providing
                                         the services of two separate individuals as nominees each to serve separately, one as
                                         Chief Executive Officer (“CEO Nominee”) and one as Chief Financial
                                         Officer (“CFO Nominee”) together with nominees for such other executive
                                         positions as may be required by UTC (collectively the “Nominees”).
                                         Subject to final approval by the Manager, the Board shall decide on the appointment of
                                         the Nominees or other duly qualified individuals to serve as Chief Executive Officer
                                         and Chief Financial Officer and such other positions as required; and

 

		(f)	managing
                                         generally the business of UTC.

 

Notwithstanding
the foregoing, the Manager agrees to consult the Board on all material issues prior to reaching or implementing a final decision
on any matters contemplated by this Agreement which are material in nature.

 

Any
officers or employees of the Manager who are also officers of UTC shall be paid by the Manager for serving in such capacities
and shall not receive any remuneration directly from UTC therefor.

 

3.
U3O8 and UF6 or EUP as applicable to be held on behalf of UTC 

 

		(a)	The
                                         Manager covenants and agrees that all U3O8 and UF6 or
                                         EUP as applicable acquired by the Manager on behalf of UTC will be stored at a licensed
                                         storage facility operated by a duly licensed operator (either one, a “Facility”
                                         or “Facilities”) in accordance with the following terms and conditions:
                                         

 

		(i)	the
                                         obligations of the Facility and the Manager will be reflected in a written agreement
                                         consistent with industry standards, a copy of which will be provided to the Board;

 

		(ii)	the
                                         Manager will ensure that the Facility indemnifies UTC against the loss of U3O8
                                         and UF6 or EUP as applicable stored by the Facility and further indemnifies
                                         its directors, officers and employees from and against all liabilities, claims and demands
                                         arising against UTC or its directors, officers or employees as a result of personal injury,
                                         death or property damage caused by the U3O8 or UF6 or
                                         ensure that UTC has the benefit of insurance arrangements obtained on standard industry
                                         terms;

 

		(iii)	the
                                         ownership interest of UTC in the U3O8 and UF6 or EUP
                                         as applicable stored with the Facility shall be evidenced in an account maintained by
                                         the Facility for UTC or for the Manager acting on behalf of UTC and the Facility will
                                         provide a written settlement statement each month indicating the amount of U3O8
                                         or UF6 ,or EUP as applicable, stored for the Manager, owned by UTC.

 

		(b)	The
                                         Manager acknowledges that any U3O8 and UF6,or EUP as
                                         applicable, purchased, on behalf or otherwise with funds of UTC or otherwise pursuant
                                         to this Agreement, will be owned by UTC and that the Manager will have no ownership interest
                                         therein other than in its role as Manager under the terms of this Agreement.

 

    	 	 	 

    	 

    

 

4.
Fees Payable to the Manager 

 

UTC
agrees to pay the following fees to the Manager (the “Manager’s Fees”):

 

		(a)	a
                                         base fee of $400,000 per annum, payable for the duration of the Agreement in equal quarterly
                                         installments on the first day of each financial quarter of Uranium Trading Corp;

 

		(b)	a
                                         variable fee equal to 0.3% per annum of UTC’s total assets in excess of $100 million
                                         as at the month-end Valuation Date (defined as the last business day of each month in
                                         which UTC determines the NAV). For such purposes, “total assets” shall mean
                                         the total assets of UTC as at the Valuation Date, which shall be calculated by multiplying
                                         the quantity of U3O8 and UF6 ,or EUP as applicable,
                                         held by or for UTC by the last spot price for U3O8 or UF6,or
                                         EUP as applicable, respectively for the month published by Ux Consulting Corporation,
                                         LLC plus cash, and any other assets held by UTC, less any outstanding payables, indebtedness
                                         and all other liabilities of UTC. The variable fee payable under this section 4(b) shall
                                         be paid within five (5) business days after the calculation of the NAV pursuant to Section
                                         12(a) of this Agreement. Further, the Board shall have the express authority to engage
                                         a third party for the purpose of conducting an independent evaluation or audit of the
                                         assets of UTC, at the cost of UTC; and 

 

		(c)	an
                                         incentive fee equal to 20% of UTC’s “Gross Trading Profits.” For
                                         the purposes of this Agreement, “Gross Trading Profits” means the gross trading
                                         profit reflected on UTC’s quarterly income statement, payable within five (5) business
                                         days following the filing of UTC’s financial statements with the Securities and
                                         Exchange Commission. In the event that Gross Trading Profits during any quarterly period
                                         are less than zero, no incentive fee under this Section 4(c) shall be paid until the
                                         aggregate of deficit Gross Trading Profits during all prior quarterly reporting periods
                                         has been recouped by UTC.

 

5.
Commissions Payable to the Manager 

 

UTC
agrees to pay the Manager the following:

 

		(a)	a
                                         commission of 1.0% of the gross purchase price of any purchases or sales of U3O8
                                         or UF6 completed at the request of the Board pursuant to Subsection
                                         2(a) (“Uranium Transactions”), to be paid not later than ten (10)
                                         business days upon the receipt of delivery of U3O8 or UF6
                                         or the delivery of U3O8 or UF6 by UTC, as the
                                         case may be, of such Uranium Transactions. Other than as set forth in section 7(k) of
                                         this Agreement, the Manager shall be responsible for any and all third party brokerage
                                         fees, commissions and service charges and other similar fees relating to all Uranium
                                         Transactions; and 
	 	 	 
		(b)	a
                                         commission of 1.0% of the interest fees payable to Uranium Participation Corp in connection
                                         with any loan arrangements of U3O8 or UF6 completed
                                         at the request of the Board, to be paid quarterly on the first day of each financial
                                         quarter of UTC during the term of any such loan arrangement. 

 

6.
Expenses Borne by Manager 

 

Subject
to Section 7 hereof, the Manager shall be responsible for bearing its own costs and expenses, including all costs and expenses
associated with compensating officers of UTC for their services

 

7.
Expenses Borne by UTC 

 

Notwithstanding
the foregoing, UTC shall be responsible for paying all costs and expenses incurred in connection with its business and whether
or not such costs are charged to UTC or the Manager, except those that are to be expressly borne by the Manager as set forth in
the foregoing Sections 2, 5 and 6 hereof. Such costs and expenses to be borne by UTC shall be purely of a flow-through nature
such that UTC shall pay the actual cost borne by the Manager and no profit or premium therefrom is to be received by the Manager
pursuant to this Section 7 and shall include, without limitation:

 

    	 	 	 

    	 

    

 

		(a)	all
                                         costs, charges and expenses incurred by UTC in the course of any of Manager’s trading
                                         activities on behalf of UTC

 

		(b)	all
                                         costs, charges and expenses, incurred by UTC with respect to any transaction involving
                                         the purchase, sale or holding of U3O8 and UF6 or other
                                         assets, including but not limited to all transportation costs, insurance fees, transfer
                                         and administrative fees, security services costs, taxes and safekeeping and fees payable
                                         to the Facility;

 

		(c)	all
                                         costs, charges and expenses associated with all professional services required by UTC
                                         including, but not limited to, legal, industry publication subscriptions, auditing, tax
                                         and accounting services;

 

		(d)	all
                                         costs, charges and expenses associated with any private or public financing conducted
                                         by UTC involving the offering of securities of UTC, including, but not limited to, all
                                         commissions and fees payable to any underwriter, counsel, transfer agent or regulatory
                                         authority and out-of-pocket expenses associated therewith;

 

		(e)	all
                                         costs, charges and expenses associated with listing the cshares of Common Stock or other
                                         security of UTC on any regulated exchange including, but not limited to, all listing,
                                         application, filing and maintenance fees or other requirements of a recognized exchange
                                         on which any security of UTC is listed;

 

		(f)	all
                                         costs, charges and expenses associated with the creation, printing, mailing and filing
                                         of any document or report, as required by any statute, regulatory authority or otherwise
                                         for any duly called meeting of the Shareholders (“Shareholders’ Meeting”),
                                         valuations of UTC, any report to Shareholders or other entity other than associated with
                                         a Shareholders’ Meeting, all regulatory filings and any other document for any
                                         purpose as required by law;

 

		(g)	all
                                         costs, charges and expenses payable to any registrar, transfer agent or trustee of any
                                         security of UTC;

 

		(h)	other
                                         than as provided in Section 4(e) hereunder, all costs, charges and expenses payable to
                                         any Director or Officer, including, but not limited to, fees, expenses or other remuneration
                                         payable to such Directors and Officers and all costs, charges and expenses associated
                                         with any insurance related to such Director or Officer;

 

		(i)	the
                                         Manager’s Fees payable pursuant to Section 4 hereunder; and

 

		(j)	the
                                         commissions payable pursuant to Section 5 hereunder.

 

    	 	 	 

    	 

    

 

8.
Delegation 

 

The
Manager may, with the prior written approval of the Board, delegate to any person, firm or corporation, any of its duties or obligations
under this Agreement (at the cost of the Manager). Further and pursuant to Section 4 of this Agreement, the Board has the express
authority to engage a third party for the purpose of conducting an independent valuation of the assets of UTC (at the cost of
UTC).

 

9.
Third Party Services 

 

The
Manager will also arrange, but at the expense of UTC, for a major trust company or transfer agent to act as registrar and transfer
agent of UTC’s cshares of Common Stock. The parties may mutually agree to appoint an agent for any other class of securities
that may be issued.

 

10.
Conduct of Administration 

 

The
Manager covenants and agrees to manage UTC’s operating business and affairs in accordance with commercially reasonable and
prudent business practices.

 

UTC
acknowledges that the Manager shall not be responsible for any loss of opportunity whereby the value of any assets of UTC or the
value of any particular U3O8 or UF6,or EUP as applicable,, monetary or currency investment could
have been increased, nor shall it be responsible for any decline in the value of any assets of UTC, unless such decline is the
result of the Manager’s gross negligence or willful failure to comply with express directions by resolution of the Board
or Shareholders of UTC or is the result of a breach of the Manager’s obligations under this Section 10. 

 

11.
Access to Records 

 

The
Manager shall, for the purposes of this Agreement, have full access to the Board, officers, auditors and other advisors to UTC
and to the books and records of UTC, all as reasonably required by the Manager to discharge its duties hereunder.

 

12.
Record-Keeping 

 

The
Manager shall arrange to maintain on behalf of UTC proper books of account and complete records of all transactions of UTC in
U3O8 and UF6 and other assets of UTC and shall cause to be provided to UTC: 

 

		(a)	monthly,
                                         within thirty-one (31) days of the end of each calendar month end a statement of account
                                         showing all investment transactions of UTC for the immediately preceding calendar month
                                         and a listing of the quantity of U3O8 and UF6 and any
                                         other assets held by UTC as at the end of such calendar month; and 

 

		(b)	monthly,
                                         within twenty-one (21) days of the end of each calendar month end, a statement showing
                                         the NAV.

 

13.
Right of Inspection to UTC 

 

The
Manager will, on reasonable notice and during normal business hours, make available to and permit the Board, officers and agents
of UTC and UTC’s auditors to inspect such books, records and accounts maintained by the Manager that relate to performance
of its duties and obligations hereunder.

 

    	 	 	 

    	 

    

 

14.
Liability and Indemnity 

 

In
acting in any capacity set forth in this Agreement, the Manager shall incur no liability for any actions taken or omitted to be
taken by it except for its own gross negligence, willful misconduct or breach of this Agreement, nor shall the Manager, its directors,
officers or employees, be liable for any taxes, assessments or governmental charges which may be levied or assessed on any basis
whatsoever in connection with the performance of the Manager’s duties and obligations hereunder excepting only those taxes
assessed against the Manager in its corporate capacity arising out of its compensation hereunder. UTC agrees to indemnify and
hold harmless the Manager from and against any and all losses, costs, claims and liabilities which it may suffer or incur by reason
of any matter or thing which the Manager may properly do or cause to be done pursuant to the terms of this Agreement, except as
a result of the Manager’s gross negligence, willful misconduct or breach of this Agreement.

 

15.
Confidentiality 

 

The
Manager covenants and agrees to keep confidential all information concerning UTC’s business and affairs which is not otherwise
available to the public, required to be disclosed by law or required to be disclosed for purposes of performance by the Manager
of its duties and obligations hereunder.

 

16.
Independent Contractor 

 

This
Agreement is not intended to be and shall not be treated as anything other than an agreement made by UTC with the Manager as an
independent contractor relating to the management and administration of the business and affairs of UTC with the respective rights,
duties and obligations of the parties hereto being none other than those ascribed to them hereunder. Without limitation, this
Agreement (and the relationship between UTC and the Manager provided for hereunder) is not a general partnership, limited partnership,
joint venture, co-venture, agency or any other form of relationship outside of the terms of this Agreement.

 

17.
Term 

 

This
Agreement shall become effective on _________, 2018, and shall be in force until May 31, 2028 (the “Term”)
and may be renewed thereafter on terms mutually acceptable to each party. This Agreement may be terminated:

 

		(a)	on
                                         or after May ____, 2021,by either party upon the provision of 120 days’ written
                                         notice;

 

		(b)	by
                                         UTC, within 90 days of the occurrence of one of the following events:

 

		(i)	within
                                         any 90 day period, both of the individuals serving as the CEO Nominee and CFO Nominee,
                                         as appointed pursuant to Section 2(g) hereof, are changed by the Manager, or are, for
                                         any reason, terminated, resign, retire or otherwise cease to be engaged as or serve as
                                         Chief Executive Officer and Chief Financial Officer of Uranium Participation Corp; or
	 	 	 
		(ii)	the
                                         Manager undertakes business transaction pursuant to which there is a “Change of
                                         Control of the Manager” or pursuant to which there is a change of both the Chief
                                         Executive Officer and Chief Financial Officer of the Manager.

 

For
the purposes hereof, “Change of Control of the Manager” means the occurrence of any one or more of the following
events: (I) a consolidation, merger, amalgamation, arrangement or other reorganization or acquisition involving the Manager or
any of its affiliates and another corporation or other entity, as a result of which the holders of Voting Securities (as defined
below) of the Manager prior to the completion of the transaction hold less than 50% of the Voting Securities of the successor
corporation after completion of the transaction; (II) any person, entity or group of persons or entities acting jointly or in
concert (an “Acquiror”) acquires or acquires control (including, without limitation, the right to vote or direct
the voting) of Voting Securities which, when added to the Voting Securities owned of record or beneficially by the Acquiror or
which the Acquiror has the right to vote or in respect of which the Acquiror has the right to direct the voting, would entitle
the Acquiror and/or its associates and/or affiliates of the Acquiror to cast or to direct the casting of 50% or more of the votes
attached to all of the Voting Securities which may be cast to elect directors of the Manager or the successor corporation (regardless
of whether a meeting has been called to elect directors); or (III) the board of directors of the Manager adopts a resolution to
the effect that a Change of Control of the Manager as defined herein has occurred or is imminent.

 

    	 	 	 

    	 

    

 

For
the purposes of the foregoing, “Voting Securities” means shares of Common Stock of the Manager and any other
shares entitled to vote for the election of directors and shall include any security, whether or not issued by the Manager, which
are not shares entitled to vote for the election of directors but are convertible into or exchangeable for shares which are entitled
to vote for the election of directors including any options or rights to purchase such shares or securities.

 

Notwithstanding
the above, this Agreement shall terminate (a) immediately where a winding-up, liquidation, dissolution, bankruptcy, sale of substantially
all assets, sale of business or insolvency proceeding have been commenced or are being contemplated by the Manager or (b) upon
the completion of any such proceeding by UTC.

 

18.
Exclusivity. 

 

The
Manager acknowledges and agrees that, during the term of this Agreement, it shall not directly or indirectly, encourage, solicit,
initiate or engage in any discussions or negotiations or respond to any enquiry or proposals (even if unsolicited) or participate
in any venture or undertaking with any person or entity involving the provision of management services to an entity primarily
engaged to invest in U3O8 or UF6 as such management services are provided by the Manager pursuant
to this Agreement. 

 

19.
Notice

 

Any
notice, approval or other communication (a “notice”) required or permitted to be given hereunder shall be properly
given if delivered personally to an employee or officer of the party to which it is addressed or if sent by prepaid registered
mail addressed as follows:

 

in
the case of UTC to:

 

Joe
Huber, Chairman

Uranium
Trading Corporation

2321
Rosecrans Avenue, Suite 3245

El
Segundo, CA 90245

 

with
a copy to:

 

J.P.
Galda

J.P.
Galda & Co.

40
E. Montgomery Avenue

Ardmore,
PA 19003 Legal*22511877.3 

 

and
in the case of the Manager to:

 

92
Trading LLC

2321
Rosecrans Avenue, Suite 3245

El
Segundo, CA 90245

 

	Attention:
    	 	 

 

    	 	 	 

    	 

    

 

or
to such other address as either party may from time to time specify by notice given to the other in accordance herewith. Any notice
if delivered personally shall be deemed to have been given at the time of delivery and if mailed as aforesaid shall be deemed
to have been given on the seventh business day after mailing.

 

20.
Entire Agreement

 

This
Agreement constitutes the entire agreement between the parties with respect to the subject matter of this Agreement and cancels
and supersedes any prior understandings, agreements, negotiations and discussions, written or oral, between the parties with respect
thereto. There are no representations, warranties, terms, conditions, undertakings or collateral agreements or understandings,
express or implied, between the parties other than those expressly set forth in this Agreement. This Agreement may not be amended,
supplemented or otherwise modified in any respect except by written instrument executed by the parties.

 

21.
Calculation of Time 

 

In
this Agreement, a period of days shall be deemed to begin on the first day after the event which began the period and to end at
5:00 p.m. (Los Angeles time) on the last day of the period. If any period of time is to expire hereunder on any day that is not
a business day (a business day being any day other than a Saturday, Sunday or other day on which banks are authorized or required
to close for business in Los Angeles, California), the period shall be deemed to expire at 5:00 p.m. (Los Angeles time) on the
next succeeding business day giving it, and only in the specific instance and for the specific purpose for which it has been given.
No failure on the part of any party to exercise, and no delay in exercising, any right under this Agreement shall operate as a
waiver of such right. No single or partial exercise of any such right shall preclude any other or further exercise of such right
or the exercise of any other right.

 

22.
Additional Rules of Interpretation 

 

		(a)	In
                                         this Agreement, unless the context requires otherwise, words in one gender include all
                                         genders and words in the singular include the plural and vice versa.

 

		(b)	The
                                         division of this Agreement into sections, and other subdivisions, and the inclusion of
                                         headings are for convenience of reference only and shall not affect the construction
                                         or interpretation of this Agreement. The headings in the Agreement are not intended to
                                         be full or precise descriptions of the text to which they refer.

 

		(c)	The
                                         words “hereof”, “herein”, “hereto”, “hereunder”,
                                         “hereby” and similar expressions shall be construed as referring to this
                                         Agreement in its entirety and not to any particular section or portion of it..3
                                         

 

    	 	 	 

    	 

    

 

23.
Time 

 

Time
shall be of the essence hereof.

 

24.
Governing Law 

 

This
Agreement shall be construed, interpreted and enforced under the laws of the State of Delaware without regard to its conflict
of laws provisions.

 

25.
Amendment 

 

No
provision of this Agreement may be changed, waived, discharged or terminated except by an instrument in writing signed by the
party against which enforcement of the change, waiver, discharge or termination is sought.

 

26.
Assignment 

 

		(a)	UTC
                                         and the Manager acknowledge and agree that this Agreement or portions thereof may be
                                         assigned to an affiliate of UTC and such assignment is hereby consented to by both parties
                                         hereto.

 

		(b)	UTC
                                         and the Manager further acknowledge and agree any assignee of UTC become solely responsible
                                         for any obligations, liabilities or responsibilities of the assigned Agreement or portions
                                         thereof as contemplated therein and for greater certainty, all fees and expenses associated
                                         with the administration of such assignee shall be borne by the assignee and the Manager
                                         shall have no financial responsibilities in this regard. The assets of such assignee
                                         will form a portion of the consolidated assets of UTC with respect to the calculation
                                         thereof as set out in this Agreement.

 

		(c)	UTC
                                         and the Manager acknowledge and agree that this Agreement may be assigned by the Manager
                                         with prior written consent.

 

IN
WITNESS WHEREOF, the parties have duly executed this Agreement.

 

	 	URANIUM TRADING CORPORATION
	 	 
	 	By:	                                             

 

	 	92 TRADING LLC
	 	 
	 	By:

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