Document:

Exhibit 10.3

 

Agreement
and Plan of Merger

 

by and among

 

ARGO
BLOCKCHAIN PLC

 

and

 

ARGO
INNOVATION FACILITIES (US), INC. 

 

and

 

DPN
LLC

 

and

 

THE DPN OWNERS

 

dated as of

 

March 4, 2021

 

    	 	 	 

     

    

 

AGREEMENT AND PLAN OF MERGER

 

This Agreement and Plan of Merger (this
 “Agreement”), dated as of March 4, 2021, is entered into among Argo Blockchain PLC, a UK public limited company
(“Argo”), Argo Innovation Facilities (US), Inc., Delaware corporation (“Merger Sub”), DPN LLC,
a Delaware limited liability company (“Company”), and the members of Company set forth in the Allocation Schedule attached
hereto as Schedule A-1 (each, an “Owner”, and collectively, the “Owners”, and together with the
Company, the “Seller Parties”).

 

RECITALS

 

WHEREAS,
the parties intend that Company be merged with and into the Merger Sub (the “Merger”), with the Merger Sub surviving
the Merger.

 

WHEREAS,
pursuant to this Agreement, the Merger will consist of a forward triangular merger, and the transactions contemplated in this Agreement
are intended to qualify as a tax-free reorganization under Section 368(a)(1)A), 368(a)(2)(D) and 367 of the Internal Revenue
Code (the “Code”);

 

WHEREAS,
Company owns and has an option to purchase property located in Dickens County, Texas, as more fully described on Exhibit A
to this Agreement (collectively, the “Helios Site”);

 

WHEREAS,
the Helios Site has been identified as a potential location to construct a cryptocurrency mining facility capable of accommodating
computing hardware designed to consume 40MWs for cryptocurrency mining (the “Mining Facility”) with the potential for
200 MWs (the “Mining Facility Business”);

 

WHEREAS,
Argo desires to acquire from Company the Helios Site with the purpose of using the Helios Site to conduct the Mining Facility
Business through Merger Sub;

 

WHEREAS,
the Manager of the Company (the “Company Manager”) has (a) determined that this Agreement and the transactions
contemplated hereby, including the Merger, are in the best interests of the Company and its Owners, (b) approved and declared advisable
this Agreement and the transactions contemplated hereby, including the Merger, and (c) resolved to recommend adoption of this Agreement
by the Owners of the Company in accordance with the Delaware Limited Liability Company Act (the “LLC Act”);

 

WHEREAS,
the respective boards of directors of Argo and Merger Sub have unanimously (a) determined that this Agreement and the transactions
contemplated hereby, including the Merger, are in the best interests of Argo, Merger Sub and their respective stockholders, and (b) approved
and declared advisable this Agreement and the transactions contemplated hereby, including the Merger; and

 

WHEREAS,
at the Closing, the Owners will receive Ordinary Shares based on a pre-agreed price in exchange for all of their respective
interests in the Company.

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

    	 	2	 

     

    

 

ARTICLE I

DEFINITIONS

 

“Action”
means any claim, action, cause of action, demand, lawsuit, arbitration, inquiry, audit, notice of violation, proceeding, litigation, citation,
summons, subpoena or investigation of any nature, civil, criminal, administrative, regulatory or otherwise, whether at law or in equity.

 

“Affiliate”
of a Person means any other Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is
under common control with, such Person. The term “control” (including the terms “controlled by” and “under
common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management
and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

 

“Agreement” has the meaning set forth
in the preamble.

 

“Ancillary
Documents” means the Nolan Employment Agreement, and the Subscription Agreements.

 

“Argo” has the meaning set forth in the
preamble.

 

“Bonus
Payment Amount” means a one-time cash payment of $200,000 which may be payable to Mr. and Mrs. Milton Daniel pursuant
to the Bonus Agreement, dated July 2019, between Mr. and Mrs. Milton Daniel and the Company.

 

“Business” has the meaning set forth
in the preamble.

 

“Business
Day” means any day except Saturday, Sunday or any other day on which commercial banks located in Delaware are authorized or
required by Law to be closed for business.

 

“Catch-up
Distribution” means the distribution of 174,891 Ordinary Shares to be made to Concerted immediately following the initial funding
of the Debt Facility.

 

“Certificate of Merger”
has the meaning set forth in  Section 2.03.

 

“Closing”
has the meaning set forth in  Section 2.02.

 

“Closing Date”
has the meaning set forth in  Section 2.02.

 

“Closing Consideration”
has the meaning set forth in  Section 2.04(a)(i).

 

“Code” means the Internal Revenue Code
of 1986, as amended.

 

“Company” has the meaning set forth in
the preamble.

 

“Company Charter
Documents” has the meaning set forth in  Section 3.03.

 

“Company Manager” has the meaning set
forth in the recitals.

 

“Company Manager
Recommendation” has the meaning set forth in  Section 3.02(b).

  

    	 	3	 

     

    

 

“Company
Membership Interest” means all of the issued and outstanding membership interests of the Company.

 

“Concerted”
means Concerted Ventures, Inc., a Delaware corporation, with offices at 33530 1st Way South, Suite 102, Federal Way, WA 98003.

 

“Contract”
has the meaning set forth in  Section 3.08(a).

 

“Conversion Formula”
has the meaning set forth in  Section 2.04(c).

 

“Debt
Facility” means any debt facility entered into by Argo or any of its Affiliates, including Merger Sub, with a third party
introduced to Argo, directly or indirectly, by Concerted.

 

“DGCL”
has the meaning set forth in  Section 2.07.

 

“Direct Claim”
has the meaning set forth in  Section 7.05(c).

 

“Disclosure
Schedules” means the Disclosure Schedules delivered by the Company and Argo concurrently with the execution and delivery of
this Agreement.

 

“Dollars or $” means the lawful currency
of the United States.

 

“Effective Time”
has the meaning set forth in  Section 2.07.

 

“Encumbrance”
means any charge, claim, community property interest, pledge, condition, equitable interest, lien (statutory or other), option, security
interest, mortgage, easement, encroachment, right of way, right of first refusal, or restriction of any kind, including any restriction
on use, voting, transfer, receipt of income or exercise of any other attribute of ownership.

 

“Environmental
Claim” means any Action, Governmental Order, lien, fine, penalty, or, as to each, any settlement or judgment arising therefrom,
by or from any Person alleging liability of whatever kind or nature (including liability or responsibility for the costs of enforcement
proceedings, investigations, cleanup, governmental response, removal or remediation, natural resources damages, property damages, personal
injuries, medical monitoring, penalties, contribution, indemnification and injunctive relief) arising out of, based on or resulting from:
(a) the presence, Release of, or exposure to, any Hazardous Materials; or (b) any actual or alleged non-compliance with any
Environmental Law or term or condition of any Environmental Permit.

 

“Environmental
Law” means any applicable Law, and any Governmental Order or binding agreement with any Governmental Authority: (a) relating
to pollution (or the cleanup thereof) or the protection of natural resources, endangered or threatened species, human health or safety,
or the environment (including ambient air, soil, surface water or groundwater, or subsurface strata); or (b) concerning the presence
of, exposure to, or the management, manufacture, use, containment, storage, recycling, reclamation, reuse, treatment, generation, discharge,
transportation, processing, production, disposal or remediation of any Hazardous Materials. The term “Environmental Law”
includes, without limitation, the following (including their implementing regulations and any state analogs): the Comprehensive Environmental
Response, Compensation, and Liability Act of 1980, as amended by the Superfund Amendments and Reauthorization Act of 1986, 42 U.S.C.
 §§ 9601 et seq.; the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act of 1976, as amended
by the Hazardous and Solid Waste Amendments of 1984, 42 U.S.C. §§ 6901 et seq.; the Federal Water Pollution Control Act of
1972, as amended by the Clean Water Act of 1977, 33 U.S.C. §§ 1251 et seq.; the Toxic Substances Control Act of 1976,
as amended, 15 U.S.C. §§ 2601 et seq.; the Emergency Planning and Community Right-to-Know Act of 1986, 42 U.S.C. §§
11001 et seq.; the Clean Air Act of 1966, as amended by the Clean Air Act Amendments of 1990, 42 U.S.C. §§ 7401 et seq.; and
the Occupational Safety and Health Act of 1970, as amended, 29 U.S.C. §§ 651 et seq.

 

    	 	4	 

     

    

 

“Environmental
Notice” means any written directive, notice of violation or infraction, or notice respecting any Environmental Claim relating
to actual or alleged non-compliance with any Environmental Law or term or condition of any Environmental Permit.

 

“Environmental Permit” means any Permit
required by or pursuant to Environmental Law.

 

“FIRPTA Statement”
has the meaning set forth in  Section 6.07.

 

“Fundamental
Representations Cap Amount” means one hundred percent (100%) of the amount actually received, in aggregate, by each Owner and
Concerted.

 

“General
Representations Cap Amount” means an amount equal to ten percent (10%) of the Merger Consideration actually received by each
Owner and Concerted.

 

“Governmental
Authority” means any federal, state, local or foreign government or political subdivision thereof, or any agency or instrumentality
of such government or political subdivision, or any self-regulated organization or other non-governmental regulatory authority or quasi-governmental
authority (to the extent that the rules, regulations or orders of such organization or authority have the force of Law), or any arbitrator,
court or tribunal of competent jurisdiction.

 

“Governmental
Order” means any order, writ, judgment, injunction, decree, stipulation, determination or award entered by or with any Governmental
Authority.

 

“Hazardous
Materials” means: (a) any material, substance, chemical, waste, product, derivative, compound, mixture, solid, liquid,
mineral or gas, in each case, whether naturally occurring or manmade, that is hazardous, acutely hazardous, toxic, or words of similar
import or regulatory effect under Environmental Laws; and (b) any petroleum or petroleum-derived products, radon, radioactive materials
or wastes, asbestos in any form, lead or lead-containing materials, urea formaldehyde foam insulation, and polychlorinated biphenyls.

 

“Helios Site” has the meaning set forth
in the preamble.

 

“Indebtedness”
means, without duplication and with respect to the Company, all (a) indebtedness for borrowed money; (b) obligations for the
deferred purchase price of property or services, (c) long or short-term obligations evidenced by notes, bonds, debentures or other
similar instruments; (d) obligations under any interest rate, currency swap or other hedging agreement or arrangement; (e) capital
lease obligations; (f) reimbursement obligations under any letter of credit, banker’s acceptance or similar credit transactions;
(g) guarantees made by the Company on behalf of any third party in respect of obligations of the kind referred to in the foregoing
clauses (a) through (f); and (h) any unpaid interest, prepayment penalties, premiums, costs and fees that would arise or become
due as a result of the prepayment of any of the obligations referred to in the foregoing clauses (a) through (g).

 

“Indemnified Party”
has the meaning set forth in  Section 7.05.

 

“Indemnifying Party”
has the meaning set forth in  Section 7.05.

 

    	 	5	 

     

    

 

“Independent Accountant”
has the meaning set forth in  Section 6.03(b).

 

“Insurance Policies”
has the meaning set forth in  Section 3.11.

 

“Knowledge”
means, when used with respect to the Company, the actual knowledge of Justin Nolan and Shahla F. Ali, after reasonable inquiry.

 

“Law”
means any statute, law, ordinance, regulation, rule, code, order, constitution, treaty, common law, judgment, decree, other requirement
or rule of law of any Governmental Authority.

 

“Liabilities”
has the meaning set forth in  Section 3.07.

 

“Losses”
means losses, damages, liabilities, deficiencies, Actions, judgments, interest, awards, penalties, fines, costs or expenses of whatever
kind, including reasonable attorneys’ fees and the cost of enforcing any right to indemnification hereunder and the cost of pursuing
any insurance providers; provided, however, that “Losses” shall not include consequential, special or punitive
damages, or lost profits, except to the extent actually awarded to a Governmental Authority or other third party.

 

“Material
Adverse Effect” means any event, occurrence, fact, condition or change that is materially adverse to (a) the Company’s
results of operations, or financial condition, or assets of the Company, or (b) the ability of the Company to consummate the transactions
contemplated hereby; provided, however, that “Material Adverse Effect” shall not include any event, occurrence, fact,
condition or change, directly or indirectly, arising out of or attributable to: (i) general economic or political conditions; (ii) conditions
generally affecting the industries in which the Company operates; (iii) any changes in financial or securities markets in general;
(iv) acts of war (whether or not declared), armed hostilities or terrorism, or the escalation or worsening thereof; (v) any
action required or permitted by this Agreement, except pursuant to Section 3.03; (vi) any changes in applicable Laws; or (vii) the
public announcement, pendency or completion of the transactions contemplated by this Agreement; provided further, however, that
any event, occurrence, fact, condition or change referred to in clauses (i) through (iv) immediately above shall be taken into
account in determining whether a Material Adverse Effect has occurred or could reasonably be expected to occur to the extent that such
event, occurrence, fact, condition or change has a disproportionate effect on the Company compared to other similarly positioned companies.

 

“Material Contracts”
has the meaning set forth in  Section 3.09.

 

“Merger” has the meaning set forth in
the recitals.

 

“Merger Consideration”
has the meaning set forth in  Section 2.04.

 

“Merger Sub” has the meaning set forth
in the preamble.

 

“Milestones”
has the meaning set forth in  Section 2.04(a)(ii).

 

“Milestone Payments”
has the meaning set forth in  Section 2.04(a)(ii).

 

“Ordinary
Shares” means the ordinary shares of common stock, par value £0.001, in the capital of Argo in issue and to be issued
pursuant to this Agreement and any other class of securities into which such securities may hereafter be reclassified or changed.

 

“Owners” has the meaning set forth in
the preamble.

 

    	 	6	 

     

    

 

“Owner Indemnitees”
has the meaning set forth in  Section 7.03.

 

“Permitted
Encumbrances” means (i) liens for Taxes not yet due and payable or being contested in good faith by appropriate procedures;
(ii) easements, rights of way, zoning ordinances and similar encumbrances affecting Real Property; and (iii) any Encumbrances
properly disclosed in the Disclosure Schedules.

 

“Permits”
means all permits licenses, franchises, approvals, authorizations, registrations, certificates, variances and similar rights obtained,
or required to be obtained, from Governmental Authorities.

 

“Person”
means an individual, corporation, partnership, joint venture, limited liability company, Governmental Authority, unincorporated organization,
trust, association or other entity.

 

“Post-Closing
Tax Period” means any taxable period beginning after the Closing Date and, with respect to any taxable period beginning before
and ending after the Closing Date, the portion of such taxable period beginning after the Closing Date.

 

“Post-Closing Taxes” means Taxes of the
Company for any Post-Closing Tax Period.

 

“Pre-Closing
Tax Period” means any taxable period ending on or before the Closing Date and, with respect to any taxable period beginning
before and ending after the Closing Date, the portion of such taxable period ending on and including the Closing Date.

 

“Pre-Closing Taxes” means Taxes of the
Company for any Pre-Closing Tax Period.

 

“Real
Property” means the real property owned, leased or subleased by the Company, together with all buildings, structures and facilities
located thereon.

 

“Release”
means any actual or threatened release, spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching,
dumping, abandonment, disposing or allowing to escape or migrate into or through the environment (including, without limitation, ambient
air (indoor or outdoor), surface water, groundwater, land surface or subsurface strata or within any building, structure, facility or
fixture).

 

“Representative”
means, with respect to any Person, any and all directors, officers, employees, consultants, financial advisors, counsel, accountants and
other agents of such Person.

 

“Straddle Period”
has the meaning set forth in  Section 6.04.

 

“Surviving Corporation”
has the meaning set forth in  Section 2.01.

 

“Taxes”
means all federal, state, local, foreign and other income, gross receipts, sales, use, production, ad valorem, transfer, franchise, registration,
profits, license, lease, service, service use, withholding, payroll, employment, unemployment, estimated, excise, severance, environmental,
stamp, occupation, premium, property (real or personal), real property gains, windfall profits, customs, duties or other taxes, fees,
assessments or charges of any kind whatsoever, together with any interest, additions or penalties with respect thereto and any interest
in respect of such additions or penalties.

 

“Tax Claim”
has the meaning set forth in  Section 6.05.

 

    	 	7	 

     

    

 

“Tax Return”
means any return, declaration, report, claim for refund, information return or statement or other document relating to Taxes, including
any schedule or attachment thereto, and including any amendment thereof.

 

“Third Party Claim”
has the meaning set forth in  Section 7.05(a).

 

ARTICLE II

THE MERGER

 

Section 2.01         The Merger. Subject to the terms and conditions of this Agreement, and in accordance with the DGCL and the LLC Act, at the Effective
Time, the Company will merge with and into Merger Sub, and Merger Sub shall be the corporation surviving the Merger (after the Effective
Date, the “Surviving Corporation”), and the separate existence of the Company shall cease.

 

Section 2.02          Closing. Subject to the terms and conditions of this Agreement, the closing of the Merger (the “Closing”)
shall take place remotely by electronic exchange of documents and signatures, on such date, time and place as the Company and Argo may
mutually agree (the date on which the Closing actually occurs, the “Closing Date”). Notwithstanding the foregoing,
the parties hereto intend that the Closing shall be deemed to be effective, and the transactions contemplated by this Agreement shall
be deemed to occur simultaneously, at 12:01 a.m., United States Eastern Time, on the Closing Date.

 

Section 2.03          Merger Certificate. At the Closing of the Merger, Argo will file with the Secretary of State of Delaware a Certificate
of Merger between the Company and Merger Sub, in the form attached hereto as Exhibit B (the “Certificate of Merger”).

 

Section 2.04          Merger
Consideration.

 

(a)            In
consideration of the Merger, Argo shall issue the following aggregate consideration (the “Merger Consideration”), and
distribute such consideration in the proportions set forth in the Allocation Schedule that is then in effect:

 

(i)            At
Closing, Argo shall issue 3,497,817 Ordinary Shares (the “Closing Consideration”).

 

(ii)           As
additional consideration for the Merger, immediately upon the occurrence of each event described below (each, a “Milestone”)
and no later than ten (10) business days thereafter, Argo shall issue and distribute in the proportions set forth in the Allocation
Schedule that is then in effect, the following payments (each, a “Milestone Payment”), as applicable:

 

(A)            A
total of 349,782 Ordinary Shares immediately following the initial funding of the Debt Facility;

 

(B)            A
total of 1,399,127 Ordinary Shares immediately following the functional interconnection of a 100 MW or greater substation on the Helios
Site;

 

(C)            A
total of 3,497,817 Ordinary Shares immediately following consumption of the first MWh of electrical energy for cryptocurrency mining on
the Helios Site;

 

    	 	8	 

     

    

 

(D)            A total
of 3,497,817 Ordinary Shares, less a number of Ordinary Shares that is equal to the Bonus Payment Amount, which shall be determined
using the Conversion Formula, as of the earlier of (i) the date of the certificate of occupancy for the construction of the Mining
Facility, or (ii) the date on which computing hardware is installed in the Mining Facility.

 

(b)           In
the event that less than all of the Milestones are achieved within twenty-four (24) months
following the Closing Date (“Milestone Period”), the Owners and Concerted, if applicable, shall be entitled to
the following payments in lieu of the unfulfilled Milestone Payments, to be made no later than ten (10) business days
thereafter:

 

(i)            If
none of the Milestones are achieved within the Milestone Period, then Argo shall immediately issue and distribute to the Owners an additional
4,197,381 Ordinary Shares;

 

(ii)           If
Milestones in  Section 2.04(a)(ii)(A) and Section 2.04(a)(ii)(B) are achieved within the Milestone Period but
Milestones in Section 2.04(a)(ii)(C) and Section 2.04(a)(ii)(D) are not achieved within the Milestone Period, then
Argo shall immediately issue and distribute to the Owners and Concerted an additional 2,448,472 Ordinary Shares; and,

 

(iii)          If
Milestones in Section 2.04(a)(ii)(A), Section 2.04(a)(ii)(B) and Section 2.04(a)(ii)(C) are achieved within the
Milestone Period but Milestone in Section 2.04(a)(ii)(D) is not achieved within the Milestone Period, then Argo shall immediately
issue and distribute to the Owners and Concerted an additional 1,399,127 Ordinary Shares.

 

(c)            If
Argo does not have a sufficient number of Ordinary Shares authorized for issuance at the time a Milestone is achieved or a payment is
otherwise due, Justin Nolan shall have the right (but not the obligation), exercised by written request, to require Argo to make the appropriate
payment in cash in U.S. Dollars, within ten (10) business days of such written request. If Justin Nolan, in his discretion, elects
to request a cash payment pursuant to the preceding sentence, Justin Nolan shall provide notice of such election to the remaining Owners
without delay, and within ten (10) business days upon receiving notice thereof the remaining Owners shall request Argo that their
respective Ordinary Shares are paid in cash, as set forth in this  Section 2.04(c). The cash amount payable hereunder shall
be determined by multiplying the number of Ordinary Shares issuable pursuant to the relevant Milestone Payment by the volume weighted
average price of an Ordinary Share of Argo on the London Stock Exchange, calculated from the closing price and daily trading volumes reported
by Bloomberg for the period of ten (10) full trading days ending on the trading day immediately prior to the date when the payment
is due (the “Conversion Formula”). Except in the event that a cash payment is expressly requested in accordance with
this Section 2.04(c), Argo’s failure to make a Milestone Payment in Ordinary Shares when due shall constitute a material
breach of this Agreement by Argo.

 

Section 2.05 Allocation
Schedule.

 

(a)            Attached
hereto as Schedule A-1 is a schedule (the “Allocation Schedule”), which sets forth a true, correct and complete schedule
of, each of the following items: (a) the portion of the Merger Consideration that will be payable or issuable as applicable to each
Owner, and (b) the allocation of the indemnification obligations of each Owner pursuant to ARTICLE  VII hereof, as of
the Closing Date and until such date when the Milestone set forth in  Section 2.04(a)(ii)(A) is achieved.

  

    	 	9	 

     

    

 

(b)            Attached
hereto as Schedule A-2 is an updated Allocation Schedule, which shall become effective immediately following achievement of the Milestone
set forth in Section  2.04(a)(ii)(A) and distribution of the Milestone Payment set forth therein in accordance with Section 2.05(c),
and which shall thereafter become operative for all purposes set forth in Section  2.05(a).

 

(c)            In
the event that Argo achieves the Milestone set forth in Section 2.04(a)(ii)(A), Argo shall first issue the Catch-up Distribution
of Ordinary Shares to Concerted and thereafter shall issue the remaining Ordinary Shares pursuant to such Milestone Payment as specified
in the Allocation Schedule attached as Schedule A-1 to the Owners. For avoidance of doubt, the total Milestone Payment under Section 2.04(a)(ii)(A) (including
the Catch-up Distribution) shall not exceed 349,782 Ordinary Shares.

 

Section 2.06 Closing
Deliverables.

 

(a)            At
or prior to the Closing, the Company shall deliver to Argo the following:

 

(i)              resignations
of the managers and officers of the Company pursuant to Section 2.09;

 

(ii)             a
certificate of the Secretary or an Assistant Secretary (or equivalent officer) of the Company certifying that (A) attached thereto
are true and complete copies of (1) all resolutions adopted by the Company Manager authorizing the execution, delivery and performance
of this Agreement and the consummation of the transactions contemplated hereby, and (2) resolutions of the Owners approving the Merger
and adopting this Agreement, and (B) all such resolutions are in full force and effect and are all the resolutions adopted in connection
with the transactions contemplated hereby and thereby;

 

(iii)            a
good standing certificate (or its equivalent) from the secretary of state or similar Governmental Authority of the jurisdiction under
the Laws in which the Company is organized;

 

(iv)            completed
and executed Subscription Agreements from each Owner, Concerted, and any other party that will receive Ordinary Shares pursuant to this
Agreement;

 

 (v)             the FIRPTA Statement;

 

(vi)            an
employment and restrictive covenant agreement between Merger Sub and Justin Nolan, in form and substance satisfactory to Argo and Justin
Nolan (“Nolan Employment Agreement”); and

 

(vii)           such
other documents or instruments as Argo reasonably requests and are reasonably necessary to consummate the transactions contemplated by
this Agreement.

 

(b)            At
the Closing, Argo shall deliver to the Company (or such other Person as may be specified herein) the following:

 

    	 	10	 

     

    

 

		(i)	The Closing Consideration, payable pursuant to Section 2.04(a)(i).

 

(ii)            a
certificate of the Secretary or an Assistant Secretary (or equivalent officer) of Argo and Merger Sub certifying that attached thereto
are true and complete copies of all resolutions adopted by the board of directors of Argo and Merger Sub, respectively, authorizing the
execution, delivery and performance of this Agreement and the Ancillary Documents and the consummation of the transactions contemplated
hereby and thereby, and that all such resolutions are in full force and effect and are all the resolutions adopted in connection with
the transactions contemplated hereby and thereby;

 

		(iii)	Executed counterparts of the Ancillary Documents; and

 

(iv)           such
other documents or instruments as the Company reasonably requests and are reasonably necessary to consummate the transactions contemplated
by this Agreement.

 

Section 2.07
Effective Time. Subject to the provisions of this Agreement, at the Closing, the Company, Argo and Merger Sub shall cause a
certificate of merger (the “Certificate of Merger”) to be executed, acknowledged and filed with the Secretary of State
of the State of Delaware in accordance with the relevant provisions of the Delaware General Corporation Law (“DGCL”)
and the LLC Act and shall make all other filings or recordings required under the DGCL and the LLC Act. The Merger shall become effective
at such time as the Certificate of Merger has been duly filed with the Secretary of State of the State of Delaware or at such later date
or time as may be agreed by the Company and Argo in writing and specified in the Certificate of Merger in accordance with the DGCL and
the LLC Act (the effective time of the Merger being hereinafter referred to as the “Effective Time”).

 

Section 2.08
Effects of the Merger. The Merger shall have the effects set forth herein and in the applicable provisions of the DGCL and the LLC
Act. Without limiting the generality of the foregoing, and subject thereto, from and after the Effective Time, all property, rights, privileges,
immunities, powers, franchises, licenses and authority of the Company and Merger Sub shall vest in the Surviving Corporation, and all
debts, liabilities, obligations, restrictions and duties of each of the Company and Merger Sub shall become the debts, liabilities, obligations,
restrictions and duties of the Surviving Corporation.

 

Section 2.09
Certificate of Incorporation; Bylaws. At the Effective Time, (a) the certificate of incorporation of Merger Sub
as in effect immediately prior to the Effective Time shall be the certificate of incorporation of the Surviving Corporation until thereafter
amended in accordance with the terms thereof or as provided by applicable Law, and (b) the bylaws of Merger Sub as in effect immediately
prior to the Effective Time shall be the bylaws of the Surviving Corporation until thereafter amended in accordance with the terms thereof,
the certificate of incorporation of the Surviving Corporation or as provided by applicable Law.

 

Section 2.10
Directors and Officers. The directors and officers of Merger Sub, in each case, immediately prior to the Effective Time
shall, from and after the Effective Time, be the directors and officers, respectively, of the Surviving Corporation until their successors
have been duly elected or appointed and qualified or until their earlier death, resignation or removal in accordance with the certificate
of incorporation and bylaws of the Surviving Corporation.

 

    11

     

    

 

Section 2.11
Effect of the Merger on Common Stock. At the Effective Time, as a result of the Merger and without any action on the part
of Argo, Merger Sub, the Company or any stockholder, the Company Membership Interest outstanding immediately prior to the Effective
Time shall be converted into the right to receive the Closing Consideration, which newly issued Ordinary Shares shall be validly
issued, fully paid and non-assessable, free and clear of all Encumbrances, and the right to receive the Milestone Payments, subject
to the terms of Section 2.04(a)(ii). Prior to the Closing hereof, Argo to issue and allot the Ordinary Shares contemplated by
section S.04(a)(i) of this Agreement.

 

Section 2.12
Surrender. At the Effective Time, the Company Membership Interest outstanding immediately prior to the Effective Time shall automatically
be cancelled and retired and shall cease to exist.

 

Section 2.13
No Further Ownership Rights in Company Membership Interest. All Merger Consideration paid or payable upon the surrender
of the Company Membership Interest in accordance with the terms hereof shall be deemed to have been paid or payable in full satisfaction
of all rights pertaining to the Company Membership Interest.

 

ARTICLE III

REPRESENTATIONS AND WARRANTIES OF THE COMPANY AND OWNERS

 

Except
as set forth in the correspondingly numbered Section of the Disclosure Schedules, the Company and Owners represent and warrant to
Argo that the statements contained in this ARTICLE  III are true and correct as of the date hereof.

 

Section 3.01
Organization and Qualification of the Company. The Company is a limited liability company duly organized, validly existing and in
good standing under the Laws of the state of Delaware and has full company power and authority to own, operate or lease the properties
and assets now owned, operated or leased by it and to carry on its business as it has been and is currently conducted. Section 3.01
of the Disclosure Schedules sets forth each jurisdiction in which the Company is licensed or qualified to do business. Except as set forth
in Section 3.01 of the Disclosure Schedules, the Company is duly licensed or qualified to do business and is in good standing in
each jurisdiction in which (a) the properties owned or leased by the Company or (b) the actions taken by the Company prior to
the Closing makes such licensing or qualification necessary.

 

Section 3.02 Authority;
Board Approval.

 

(a)           The Company
and the Owners have all necessary power and authority to enter into and perform their obligations under this Agreement and the Ancillary
Documents to which they are a party and to consummate the transactions contemplated hereby and thereby. The execution, delivery and performance
by the Company and the Owners of this Agreement and any Ancillary Document to which they are a party and the consummation by the Company
and the Owners of the transactions contemplated hereby and thereby have been duly authorized by the Owners and all requisite company action
on the part of the Company and no other corporate proceedings on the part of the Company are necessary to authorize the execution, delivery
and performance of this Agreement or to consummate the Merger and the other transactions contemplated hereby and thereby. This Agreement
has been duly executed and delivered by the Company and the Owners, and (assuming due authorization, execution and delivery by each other
party hereto) this Agreement constitutes a legal, valid and binding obligation of the Company and the Owners enforceable against the Company
and the Owners in accordance with its terms. When each Ancillary Document to which the Company or an Owner is or will be a party has been
duly executed and delivered by the Company or the Owner (assuming due authorization, execution and delivery by each other party thereto),
such Ancillary Document will constitute a legal and binding obligation of the Company or the Owner enforceable against it in accordance
with its terms.

 

    12

     

    

 

(b)           The Company
Manager, by resolutions duly adopted and, as of the date hereof, not rescinded or modified in any way, has (i) determined that this
Agreement and the transactions contemplated hereby, including the Merger, are fair to, and in the best interests of, the Owners, (ii) approved
and declared advisable the “agreement of merger” (as such term is used in Section 18-209 of the LLC Act) contained in
this Agreement and the transactions contemplated by this Agreement, including the Merger, in accordance with the LLC Act, (iii) directed
that the “agreement of merger” contained in this Agreement be submitted to the Owners for adoption, and (iv) resolved
to recommend that the Owners adopt the “agreement of merger” set forth in this Agreement (collectively, the “Company
Manager Recommendation”) and directed that such matter be submitted for consideration of the Owners at a meeting of the Company
Owners.

 

Section 3.03
No Conflicts; Consents. The execution, delivery and performance by the Company and the Owners of this Agreement and the Ancillary
Documents to which the Company or an Owner are a party, and the consummation of the transactions contemplated hereby and thereby, including
the Merger, do not and will not: (i) conflict with or result in a violation or breach of, or default under, any provision of the
certificate of formation, limited liability company agreement or other organizational documents of the Company (“Company Charter
Documents”); (ii) conflict with or result in a violation or breach of any provision of any Law or Governmental Order applicable
to the Company; (iii) require the consent, notice or other action by any Person under, conflict with, result in a violation or breach
of, constitute a default or an event that, with or without notice or lapse of time or both, would constitute a default under, result in
the acceleration of or create in any party the right to accelerate, terminate, modify or cancel any Contract to which the Company is a
party or by which the Company is bound or to which any of the Company’s properties and assets are subject (including any Material
Contract); or (iv) result in the creation or imposition of any Encumbrance other than Permitted Encumbrances on any properties or
assets of the Company. No consent, approval, Permit, Governmental Order, declaration or filing with, or notice to, any Governmental Authority
is required by or with respect to the Company in connection with the execution, delivery and performance of this Agreement and the Ancillary
Documents and the consummation of the transactions contemplated hereby and thereby, except for the filing of the Certificate of Merger
with the Secretary of State of Delaware and such filings as may be required to transfer ownership of the Helios Site to Merger Sub.

 

Section 3.04 Capitalization.

 

(a)           Section 3.04(a) of
the Disclosure Schedules set forth, as of the date hereof, the name of each Owner and the percent interest owned by such person that comprise
the Company Membership Interest.

 

(b)           There
are no outstanding or authorized unit appreciation, phantom stock, profit participation or other similar rights with respect to the Company
or any of its securities.

 

(c)           All
distributions, dividends, repurchases and redemptions of the Company Membership Interest (or other equity interests) of the Company were
undertaken in compliance with the Company Charter Documents then in effect, any agreement to which the Company then was a party and in
compliance with applicable Law.

 

Section 3.05
No Subsidiaries. The Company does not own, or have any interest in any shares or have an ownership interest in any other
Person.

 

Section 3.06
No Operations. Since July 8, 2019, the Company has not had any business operations or material assets other than
the Helios Site.

 

    13

     

    

 

Section 3.07
Undisclosed Liabilities. The Company has no liabilities, obligations or commitments of any nature whatsoever, asserted
or unasserted, known or unknown, absolute or contingent, accrued or unaccrued, matured or unmatured or otherwise (“Liabilities”),
except those which are adequately reflected in Section 3.07 of the Disclosure Schedules, and which are not, individually or in the
aggregate, material in amount.

 

Section 3.08
Absence of Certain Changes, Events and Conditions. Since January 1, 2021 there has not been, with respect to the
Company, any:

 

(a)           event,
occurrence or development that has had, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse
Effect;

 

(b)           amendment
of the certificate of formation, limited liability company agreement or other organizational documents of the Company;

 

(c)            issuance,
sale or other disposition of any of its membership interests or grant of any options, warrants or other rights to purchase or obtain (including
upon conversion, exchange or exercise) any of the Company Membership Interest;

 

(d)           declaration
or payment of any dividends or distributions on or in respect of any of the Company Membership Interests or redemption, purchase or acquisition
of the Company Membership Interest;

 

 (e)           entry into any Contract that would constitute a Material Contract;

 

(f)            incurrence,
assumption or guarantee of any indebtedness for borrowed money except unsecured current obligations and Liabilities incurred in the ordinary
course of business consistent with past practice;

 

(g)           material
damage, destruction or loss (whether or not covered by insurance) to the Company’s property;

 

 (h)           any capital investment in, or any loan to, any other Person;

 

(i)            acceleration,
termination, material modification to or cancellation of any Material Contract (including, but not limited to, any Material Contract)
to which the Company is a party or by which it is bound;

 

 (j)            any material capital expenditures;

 

(k)            imposition
of any Encumbrance upon any of the Company properties, membership interests or assets, tangible or intangible;

 

(l)            any
loan to (or forgiveness of any loan to), or entry into any other transaction with, any of its members or current or former managers or
officers;

 

(m)           except
for the Merger, adoption of any plan of merger, consolidation, reorganization, liquidation or dissolution or filing of a petition in bankruptcy
under any provisions of federal or state bankruptcy Law or consent to the filing of any bankruptcy petition against it under any similar
Law;

 

    14

     

    

 

(n)           other
than set forth on Section 3.08(n) of the Disclosure Schedules, the purchase, lease or other acquisition of the right to own,
use or lease any property or assets;

 

(o)           acquisition
by merger or consolidation with, or by purchase of a substantial portion of the assets or stock or units of, or by any other manner, any
business or any Person or any division thereof; or,

 

(p)           any
Contract to do any of the foregoing, or any action or omission that would result in any of the foregoing.

 

Section 3.09 Material
Contracts.

 

(a)           Section 3.09(a) of
the Disclosure Schedules lists each of the following contracts to which the Company is a party (each a
 “Contract”, and together with all contracts concerning the occupancy, management or operation of any Real
Property (including without limitation, brokerage contracts) listed or otherwise disclosed in Section 3.10(b) of the
Disclosure Schedules, the “Material Contracts”):

 

(i)             each
Contract of the Company involving aggregate consideration in excess of $30,000.00, and which, in each case, cannot be cancelled by the
Company without penalty or without more than 90 days’ notice;

 

(ii)            all
Contracts that provide for the indemnification by the Company of any Person or the assumption of any Tax, environmental or other Liability
of any Person;

 

(iii)           all
Contracts that relate to the acquisition or disposition of any business, a material amount of stock or assets of any other Person or any
real property (whether by merger, sale of stock, sale of assets or otherwise);

 

(iv)           all
broker, distributor, dealer, manufacturer’s representative, franchise, agency, sales promotion, market research, marketing consulting
and advertising Contracts to which the Company is a party;

 

(v)            all
Contracts with independent contractors or consultants (or similar arrangements) to which the Company is a party and which are not cancellable
without material penalty or without more than 90 days’ notice;

 

(vi)           all
Contracts relating to indebtedness (including, without limitation, guarantees) of the Company;

 

(vii)          any
Contracts to which the Company is a party that provide for any joint venture, partnership or similar arrangement by the Company;

 

(viii)         any
other Contract that is material to the Company and not previously disclosed pursuant to this  Section 3.09.

 

    15

     

    

 

(b)           Each
Material Contract is valid and binding on the Company in accordance with its terms and is in full force and effect. Neither the
Company nor, to the Company’s Knowledge, any other party thereto is in breach of or default under (or is alleged to be in
breach of or default under) in any material respect, or has provided or received any notice of any intention to terminate, any
Material Contract. No event or circumstance has occurred that, with notice or lapse of time or both, would constitute an event of
default under any Material Contract or result in a termination thereof or would cause or permit the acceleration or other changes of
any right or obligation or the loss of any benefit thereunder. Complete and correct copies of each Material Contract (including all
modifications, amendments and supplements thereto and waivers thereunder) have been made available to Argo.

 

Section 3.10 Title
to Assets; Real Property.

 

(a)           The
Company has good, valid and marketable fee simple title to all its Real Property, free and clear of Encumbrances, with the exception of
the Encumbrances set forth in Section 3.10(a) of the Disclosure Schedules.

 

(b)           Section 3.10(b) of
the Disclosure Schedules lists (i) the street address of each parcel of Real Property; (ii) if such property is leased or subleased
by the Company, the landlord under the lease, the rental amount currently being paid, and the expiration of the term of such lease or
sublease for each leased or subleased property; and (iii) the current use of such property. With respect to owned Real Property,
the Company has delivered or made available to Argo true, complete and correct copies of the deeds and other instruments (as recorded)
by which the Company acquired such Real Property, and copies of all title insurance policies, opinions, abstracts and surveys in the possession
of the Company and relating to the Real Property. The Company’s use and operation of the Real Property in the conduct of the Company’s
business prior to the date hereof do not violate in any material respect any Law, covenant, condition, restriction, easement, license,
permit or agreement. No material improvements constituting a part of the Real Property encroach on real property owned or leased by a
Person other than the Company. There are no Actions pending nor, to the Company’s Knowledge or Owner’s knowledge, threatened
against or affecting the Real Property or any portion thereof or interest therein in the nature or in lieu of condemnation or eminent
domain proceedings.

 

(c)           The
Company does not own any personal property or any other material asset that is located on the Real Property or owned in connection with
the Real Property.

 

Section 3.11
Insurance. Section 3.11 of the Disclosure Schedules sets forth a true and complete list of all current insurance
policies or binders maintained by Company and relating to the assets, business, operations, officers and directors of the Company (collectively,
the “Insurance Policies”). True and complete copies of such Insurance Policies have been made available to Argo. Such
Insurance Policies are in full force and effect. Except as set forth on Section 3.11 of the Disclosure Schedules, there are no claims
pending under any such Insurance Policies as to which coverage has been questioned, denied or disputed or in respect of which there is
an outstanding reservation of rights.

 

Section 3.12 Legal
Proceedings; Governmental Orders.

 

(a)           There
are no Actions pending or, to the Company’s Knowledge, threatened (a) against or by the Company affecting any of its properties
or assets; or (b) against or by the Company that challenges or seeks to prevent, enjoin or otherwise delay the transactions contemplated
by this Agreement. To the Company’s Knowledge, no event has occurred or circumstances exist that may give rise to, or serve as a
basis for, any such Action.

 

(b)           There
are no outstanding Governmental Orders and no unsatisfied judgments, penalties or awards against or affecting the Company or any of its
properties or assets.

 

    16

     

    

 

Section 3.13 Compliance
With Laws; No Permits.

 

(a)           The
Company has complied, and is now complying, with all Laws applicable to it or its business, properties or assets, in all material respects.

 

 (b)           The Company is not required to obtain or maintain any Permits to hold its assets.

 

Section 3.14
Environmental Matters.

 

(a)           To
Company’s Knowledge, the Company is currently and has been in compliance with all Environmental Laws in all material respects. The
Company has not received from any Person any: (i) Environmental Notice or Environmental Claim; or (ii) written request for information
pursuant to Environmental Law, which, in each case, either remains pending or unresolved, or is the source of ongoing obligations or requirements
as of the Closing Date.

 

(b)           No
Environmental Permits are necessary for the Company’s ownership, operation or use of the assets prior to the date hereof.

 

(c)           To
the Company’s Knowledge, there is no condition, event or circumstance that might prevent or impede, after the Closing Date, the
ownership, lease, or use of the property or assets of the Company as currently carried out.

 

(d)           The
Company has not caused or authorized, and to the Company’s Knowledge there has not been any Release of Hazardous Materials in contravention
of Environmental Law with respect to the assets of the Company or any real property currently or formerly owned or leased by the Company.
The Company has not received an Environmental Notice that any real property currently or formerly owned or leased by the Company (including
soils, groundwater, surface water, buildings and other structure located on any such real property) has been contaminated with any Hazardous
Material which could reasonably be expected to result in an Environmental Claim against, or a violation of Environmental Law by, the Company.

 

(e)           The
Company has not retained or assumed, by contract or operation of Law, any liabilities or obligations of third parties under Environmental
Law.

 

(f)            The
Company has provided or otherwise made available to Argo and listed in Section 3.14(f) of the Disclosure Schedules: (i) any
and all environmental reports, studies, audits, records, sampling data, site assessments, risk assessments, economic models and other
similar documents with respect to the business or assets of the Company or any currently or formerly owned or leased real property which
are in the possession or control of the Company related to compliance with Environmental Laws, Environmental Claims or an Environmental
Notice or the Release of Hazardous Materials; and (ii) any and all material documents concerning planned or anticipated capital expenditures
required to reduce, offset, limit or otherwise control pollution and/or emissions, manage waste or otherwise ensure compliance with current
or future Environmental Laws (including, without limitation, costs of remediation, pollution control equipment and operational changes).

 

(g)           The
Company is not aware of or reasonably anticipates, as of the Closing Date, any condition, event or circumstance concerning the Release
or regulation of Hazardous Materials that might, after the Closing Date, prevent, impede or materially increase the costs associated
with the ownership, lease, operation, performance or use of the assets of the Company as currently carried out.

 

    17

     

    

 

Section 3.15 Taxes.
Except as set forth in Section 3.15 of the Disclosure Schedules:

 

(a)           All
material Tax Returns required to be filed on or before the Closing Date by the Company have been, or will be, timely filed. Such Tax Returns
are, or will be, true, complete and correct in all material respects. All material Taxes due and owing by the Company (whether or not
shown on any Tax Return) have been, or will be, timely paid.

 

(b)           The
Company has withheld and paid each Tax required to have been withheld and paid in connection with amounts paid or owing to any independent
contractor, creditor, member or other party, and complied with all information reporting and backup withholding provisions of applicable
Law.

 

(c)           No
claim in writing has been made by any taxing authority in any jurisdiction where the Company does not file Tax Returns that it is, or
may be, subject to Tax by that jurisdiction.

 

(d)           No
extensions or waivers of statutes of limitations have been given or requested with respect to any Taxes of the Company.

 

 (e)           Section 3.15(e) of the Disclosure Schedules sets forth:

 

(i)             the
taxable years of the Company as to which the applicable statutes of limitations on the assessment and collection of Taxes have not expired;

 

(ii)            those
years for which examinations by the taxing authorities have been completed; and

 

(iii)           those
taxable years for which examinations by taxing authorities are presently being conducted.

 

(f)            All
deficiencies asserted, or assessments made, against the Company as a result of any examinations by any taxing authority have been fully
paid.

 

(g)           The
Company is not a party to any Action by any taxing authority. There are no pending or threatened Actions by any taxing authority.

 

(h)           The
Company has delivered to Argo copies of all federal, state, local and foreign income, franchise and similar Tax Returns, examination reports,
and statements of deficiencies assessed against, or agreed to by, the Company for all Tax periods ending after December 31, 2019.

 

(i)            There
are no Encumbrances for Taxes (other than for current Taxes not yet due and payable) upon the assets of the Company.

 

(j)            The
Company is not a party to, or bound by, any Tax indemnity, Tax sharing or Tax allocation agreement.

 

    18

     

    

 

(k)           No
private letter rulings, technical advice memoranda or similar agreement or rulings have been requested, entered into or issued by any
taxing authority with respect to the Company.

 

(l)            The
Company has not been a member of an affiliated, combined, consolidated or unitary Tax group for Tax purposes. The Company has no Liability
for Taxes of any Person (other than the Company) under Treasury Regulations Section 1.1502-6 (or any corresponding provision of state,
local or foreign Law), as transferee or successor, by contract or otherwise.

 

(m)          The
Company will not be required to include any item of income in, or exclude any item or deduction from, taxable income for taxable period
or portion thereof ending after the Closing Date as a result of:

 

(i)             any
change in a method of accounting under Section 481 of the Code (or any comparable provision of state, local or foreign Tax Laws),
or use of an improper method of accounting, for a taxable period ending on or prior to the Closing Date;

 

(ii)            an
installment sale or open transaction occurring on or prior to the Closing Date;

 

 (iii)           a prepaid amount received on or before the Closing Date;

 

(iv)           any
closing agreement under Section 7121 of the Code, or similar provision of state, local or foreign Law; or

 

 (v)            any election under Section 108(i) of the Code.

 

(n)           The
Company is not, nor has it been, a United States real property holding corporation (as defined in Section 897(c)(2) of the Code)
during the applicable period specified in Section 897(c)(1)(a) of the Code.

 

(o)           The
Company has not been a “distributing corporation” or a “controlled corporation” in connection with a distribution
described in Section 355 of the Code.

 

(p)           The
Company is not, and has not been, a party to, or a promoter of, a “reportable transaction” within the meaning of Section 6707A(c)(1) of
the Code and Treasury Regulations Section 1.6011 4(b).

 

Section 3.16
Books and Records. The minute books and stock record books of the Company, to the extent such books exist, have been made available
to Argo, and to the extent provided, are complete and correct and have been maintained in accordance with the Company’s practices.

 

Section 3.17
Related Party Transactions. No executive officer or director of the Company or any person owning 5% or more of the membership
interests of the Company (or any of such person’s immediate family members or Affiliates or associates) is a party to any Contract
with or binding upon the Company or any of its assets, rights or properties or has any interest in any property owned by the Company or
has engaged in any transaction with any of the foregoing within the last twelve (12) months.

 

Section 3.18
Brokers. Except for such persons listed in Section 3.18 of the Disclosure Schedules, no broker, finder or investment
banker is entitled to any brokerage, finder’s or other fee or commission in connection with the transactions contemplated by
this Agreement or any Ancillary Document based upon arrangements made by or on behalf of the Company.

 

    19

     

    

 

Section 3.19
No Other Representations and Warranties. Except for the representations and warranties contained in this ARTICLE  III
(including the relating portions of the Disclosure Schedules), neither the Company, the Owners nor any other Person has made or makes
any other express or implied representation or warranty, either written or oral, on behalf of the Company, including any representation
or warranty as to the accuracy or completeness of any information regarding the Company furnished or made available to Argo (including
information, documents or material delivered to Argo or made available to Argo in any data room, management presentations or in any other
form in expectation of the transactions contemplated hereby) or as to the future revenue, profitability or success of the Company, or
any representation or warranty arising from statute or otherwise in law.

 

Section 3.20
Full Disclosure. No representation or warranty by the Company in this Agreement and no statement contained in the Disclosure
Schedules to this Agreement or any certificate or other document furnished or to be furnished to Argo pursuant to this Agreement contains
any untrue statement of a material fact, or omits to state a material fact necessary to make the statements contained therein, in light
of the circumstances in which they are made, not misleading.

 

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF ARGO AND MERGER SUB

 

Argo
and Merger Sub represent and warrant to the Company that the statements contained in this ARTICLE  IV are true and correct
as of the date hereof.

 

Section 4.01
Organization and Authority of Argo and Merger Sub. Each of Argo and Merger Sub is a corporation duly organized, validly existing
and in good standing under the Laws of the jurisdiction of its incorporation. Each of Argo and Merger Sub has full corporate power and
authority to enter into and perform its obligations under this Agreement and the Ancillary Documents to which it is a party and to consummate
the transactions contemplated hereby and thereby. The execution, delivery and performance by Argo and Merger Sub of this Agreement and
any Ancillary Document to which they are a party and the consummation by Argo and Merger Sub of the transactions contemplated hereby and
thereby have been duly authorized by all requisite corporate action on the part of Argo and Merger Sub and no other corporate proceedings
on the part of Argo and Merger Sub are necessary to authorize the execution, delivery and performance of this Agreement or to consummate
the Merger and the other transactions contemplated hereby and thereby. This Agreement has been duly executed and delivered by Argo and
Merger Sub, and (assuming due authorization, execution and delivery by each other party hereto) this Agreement constitutes a legal, valid
and binding obligation of Argo and Merger Sub enforceable against Argo and Merger Sub in accordance with its terms. When each Ancillary
Document to which Argo or Merger Sub is or will be a party has been duly executed and delivered by Argo or Merger Sub (assuming due authorization,
execution and delivery by each other party thereto), such Ancillary Document will constitute a legal and binding obligation of Argo or
Merger Sub enforceable against it in accordance with its terms. Argo has been engaged in the active conduct of its trade or business outside
of the United States for at least three years immediately prior to Closing.

 

    20

     

    

 

Section 4.02
No Conflicts; Consents. The execution, delivery and performance by Argo and Merger Sub of this Agreement and the
Ancillary Documents to which they are a party, and the consummation of the transactions contemplated hereby and thereby, do not and
will not: (a) conflict with or result in a violation or breach of, or default under, any provision of the certificate of
incorporation, bylaws or other organizational documents of Argo or Merger Sub; (b) conflict with or result in a violation or
breach of any provision of any Law or Governmental Order applicable to Argo or Merger Sub; or (c) require the consent, notice
or other action by any Person under any Contract to which Argo or Merger Sub is a party. No consent, approval, Governmental Order,
declaration or filing with, or notice to, any Governmental Authority is required by or with respect to Argo or Merger Sub in
connection with the execution, delivery and performance of this Agreement and the Ancillary Documents and the consummation of the
transactions contemplated hereby and thereby, except for the filing of the Certificate of Merger with the Secretary of State of
Delaware and such filings as may be required to transfer ownership of the Helios Site to Merger Sub.

 

Section 4.03
No Prior Merger Sub Operations. Merger Sub was formed solely for the purpose of effecting the Merger and has not engaged
in any business activities or conducted any operations other than in connection with the transactions contemplated hereby.

 

Section 4.04
Brokers. Except for XMS Capital Partners, no broker, finder or investment banker is entitled to any brokerage, finder’s
or other fee or commission in connection with the transactions contemplated by this Agreement or any Ancillary Document based upon arrangements
made by or on behalf of Argo or Merger Sub.

 

Section 4.05
Legal Proceedings. There are no Actions pending or, to Argo’s or Merger Sub’s knowledge, threatened against or
by Argo, Merger Sub or any of their respective Affiliates that challenge or seek to prevent, enjoin or otherwise delay the transactions
contemplated by this Agreement. No event has occurred or circumstances exist that may give rise or serve as a basis for any such Action.

 

Section 4.06
Valid Issuance. The Ordinary Shares, when issued and delivered pursuant to this Agreement, (i) will have been validly issued
and will be fully paid and nonassessable and (ii) will not have been issued in violation of any preemptive or other similar rights
of any Person.

 

Section 4.07
Inspections; Non-Reliance. Inspections by Purchaser; Non-Reliance. Argo and Merger Sub are informed and sophisticated purchasers,
and have engaged expert advisors, experienced in the evaluation and purchase of companies such as the transactions contemplated by this
Agreement. Argo and Merger Sub have conducted their own independent investigation, review and analysis of the assets, liabilities and
prospects of the Company, which investigation, review and analysis was done by Argo and Merger Sub and, to the extent they deemed appropriate,
by its representatives and advisors. Each of Argo and Merger Sub acknowledge that it and its representatives and advisors have been provided
adequate access to the properties, premises and records of the Company for such purpose, and each of Argo and Merger Sub acknowledges
that it has undertaken such investigation and has been provided with and has evaluated such properties, premises and records of the Company
as it has deemed necessary to enable it to make an informed and intelligent decision with respect to the execution, delivery and performance
of this Agreement and the Ancillary Document to which it is a party. In entering into this Agreement and the Ancillary Document to which
it is a party, each of Argo and Merger Sub acknowledges that it has relied solely upon the aforementioned investigation, review and analysis
and not on any factual representations of the Company and or the Owners, except the specific representations and warranties of the Company
and the Owners set forth in ARTICLE III of this Agreement or any other Ancillary Document.

 

    21

     

    

 

ARTICLE V

COVENANTS

 

Section 5.01          Inspection.

 

(a)            With
respect to the Milestone set forth in Section 2.04(a)(ii)(A), Argo shall provide Justin Nolan of the identity and contact information
of the lenders with which it seeks to enter into the Debt Facility, and provide notice of completion of such Milestone. In the event that
Justin Nolan does not receive notice of achievement of the Milestone set forth in Section 2.04(a)(ii)(A) within six (6) months
following the Closing Date, Justin Nolan shall have the right to pursue verification of the status of the Debt Facility.

 

(b)            With
respect to the Milestones set forth in  Section 2.04(a)(ii)(B), Section  2.04(a)(ii)(C) and Section 2.04(a)(ii)(D),
to the extent that less than all such Milestones have been achieved, Argo shall (and shall cause its Affiliates, including Merger Sub,
to) provide Justin Nolan and/or his authorized representatives with on-site access to the Helios Site, and access to all relevant books
and records evidencing consumption of electricity on the Helios Site.

 

Section 5.02
        Achievement of Milestones. Argo shall exercise (and cause its Affiliates,
including Merger Sub, to exercise) best efforts, including devoting adequate resources and personnel, to achieve the Milestones set
forth in Section 2.04(a)(ii) within the Milestone Period, and to have a sufficient number of Ordinary Shares authorized
for issuance at the time a Milestone is achieved or a payment is otherwise due.

 

Section 5.03
         Nolan Director Agreement. If Argo and David Nolan do not enter into a Director Agreement in connection with David Nolan’s
appointment as a member of the Argo Board of Directors prior to or on the Closing Date, Argo and David Nolan shall take all action reasonably
necessary to effect such appointment as soon as practicable after the Closing.

 

ARTICLE VI

TAX MATTERS

 

Section 6.01
          Termination of Existing Tax Sharing Agreements. Any and all existing Tax sharing agreements (whether written or not)
binding upon the Company shall be terminated as of the Closing Date. After such date neither the Company nor any of its Representatives
shall have any further rights or liabilities thereunder.

 

Section 6.02         
Tax Indemnification. Each recipient of Ordinary Shares pursuant to the Allocation Schedule set forth in Schedule A-2 shall,
severally and not jointly (in accordance with the number of Ordinary Shares actually received by such recipient as consideration
under this Agreement), indemnify the Company, Argo, and each Argo Indemnitee and hold them harmless from and against (a) any
Loss attributable to any breach of or inaccuracy in any representation or warranty made in Section 3.15; (b) any Loss
attributable to any breach or violation of, or failure to fully perform, any covenant, agreement, undertaking or obligation in
ARTICLE  VI; (c) all Taxes of the Company or relating to the business, activities, or property holdings of the Company for
all Pre-Closing Tax Periods; (d) all Taxes of any member of an affiliated, consolidated, combined or unitary group of which the
Company (or any predecessor of the Company) is or was a member on or prior to the Closing Date by reason of a liability under
Treasury Regulation Section 1.1502-6 or any comparable provisions of foreign, state or local Law; and (e) any and all
Taxes of any person imposed on the Company arising under the principles of transferee or successor liability or by contract,
relating to an event or transaction occurring before the Closing Date. In each of the above cases, together with any out-of-pocket
fees and expenses (including attorneys’ and accountants’ fees) incurred in connection therewith, the Owners shall,
severally and not jointly (in accordance with the number of Ordinary Shares actually received by such recipient as consideration
under this Agreement), reimburse Argo for any Taxes of the Company that are the responsibility of the Owners pursuant to this
Section 6.02 within ten Business Days after payment of such Taxes by Argo or the Company.

 

    22 

     

    

 

Section 6.03          Tax
Returns.

 

(a)            The
Company shall prepare and timely file, or cause to be prepared and timely filed, all Tax Returns required to be filed by it that are due
on or before the Closing Date (taking into account any extensions), and shall timely pay all Taxes that are due and payable on or before
the Closing Date (taking into account any extensions), and shall timely pay all Taxes that are due and payable on or before the Closing
Date. Any such Tax Return shall be prepared in a manner consistent with past practice (unless otherwise required by Law).

 

(b)            Argo
shall prepare and timely file, or cause to be prepared and timely filed, all Tax Returns required to be filed by the Company after the
Closing Date with respect to a Pre-Closing Tax Period and for any Straddle Period. Any such Tax Return shall be prepared in a manner consistent
with past practice (unless otherwise required by Law) and, if it is an income or other material Tax Return, shall be submitted by Argo
to Owners (together with schedules, statements and, to the extent requested by the Owners, supporting documentation) at least 45 days
prior to the due date (including extensions) of such Tax Return. If Owners objects to any item on any such Tax Return that relates to
a Pre-Closing Tax Period, it shall, within 10 days after delivery of such Tax Return, notify Argo in writing that it so objects, specifying
with particularity any such item and stating the specific factual or legal basis for any such objection. If a notice of objection shall
be duly delivered, Argo and Owners shall negotiate in good faith and use their reasonable best efforts to resolve such items. If Argo
and Owners are unable to reach such agreement within 10 days after receipt by Argo of such notice, the disputed items shall be resolved
by the office of an impartial nationally recognized firm of independent certified public accountants (the “Independent Accountant”)
to be appointed by mutual agreement of the parties. Any determination by the Independent Accountant shall be final. The Independent Accountant
shall resolve any disputed items within 20 days of having the item referred to it pursuant to such procedures as it may require. If the
Independent Accountant is unable to resolve any disputed items before the due date for such Tax Return, the Tax Return shall be filed
as prepared by Argo and then amended to reflect the Independent Accountant’s resolution. The costs, fees and expenses of the Independent
Accountant shall be borne equally by Argo and Owners. The preparation and filing of any Tax Return of the Company that does not relate
to a Pre-Closing Tax Period or Straddle Period shall be exclusively within the control of Argo.

 

Section 6.04
          Straddle Period. In the case of Taxes that are payable with respect to a taxable period that begins before and ends after the
Closing Date (each such period, a “Straddle Period”), the portion of any such Taxes that are treated as Pre-Closing
Taxes for purposes of this Agreement shall be:

 

(a)            in
the case of Taxes (i) based upon, or related to, income, receipts, profits, wages, capital or net worth, (ii) imposed in connection
with the sale, transfer or assignment of property, or (iii) required to be withheld, deemed equal to the amount which would be payable
if the taxable year ended with the Closing Date; and

 

    23 

     

    

 

(b)            in the
case of other Taxes, deemed to be the amount of such Taxes for the entire period multiplied by a fraction the numerator of which is the
number of days in the period ending on the Closing Date and the denominator of which is the number of days in the entire period.

 

Section 6.05
          Contests. Argo agrees to give written notice to Owners of the receipt of any written notice to the Company, Argo or any of Argo’s
Affiliates which involves the assertion of any claim, or the commencement of any Action, in respect of which an indemnity may be sought
by Argo pursuant to this ARTICLE  VI (a “Tax Claim”). Argo shall control the contest or resolution of any Tax
Claim; provided, however, that Argo shall obtain the prior written consent of the Owners (which consent shall not be unreasonably
withheld, conditioned or delayed) before entering into any settlement of a claim or ceasing to defend such claim; and, provided further,
that the Owners shall be entitled to participate in the defense of such claim and to employ counsel of its choice for such purpose, the
fees and expenses of which separate counsel shall be borne solely by Owners.

 

Section 6.06
          Cooperation and Exchange of Information. The Owners, the Company and Argo shall provide each other with such cooperation and
information as either of them reasonably may request of the others in filing any Tax Return pursuant to this ARTICLE  VI or in connection
with any audit or other proceeding in respect of Taxes of the Company. Such cooperation and information shall include providing copies
of relevant Tax Returns or portions thereof, together with accompanying schedules, related work papers and documents relating to rulings
or other determinations by tax authorities. Each of the Owners, the Company and Argo shall retain all Tax Returns, schedules and work
papers, records and other documents in its possession relating to Tax matters of the Company for any taxable period beginning before the
Closing Date until the expiration of the statute of limitations of the taxable periods to which such Tax Returns and other documents relate,
without regard to extensions except to the extent notified by any of the other parties in writing of such extensions for the respective
Tax periods. Prior to transferring, destroying or discarding any Tax Returns, schedules and work papers, records and other documents in
its possession relating to Tax matters of the Company for any taxable period beginning before the Closing Date, the Owners, the Company
or Argo (as the case may be) shall provide the other parties with reasonable written notice and offer the other parties the opportunity
to take custody of such materials. The parties agree to treat the within transaction as a forward triangular merger within the meaning
of Section 368(a)(2)(D) and Section 367 of the Code and will not take any action or position inconsistent with same with
any taxing authority.

 

Section 6.07
         FIRPTA Statement. On the Closing Date, the Company shall deliver to Argo a certificate, dated as of the Closing Date,
certifying to the effect that no interest in the Company is a U.S. real property interest (such certificate in the form required by Treasury
Regulation Section 1.897-2(h) and 1.1445-3(c)) (the “FIPRTA Statement”).

 

Section 6.08
        Survival. Notwithstanding anything in this Agreement to the contrary, the provisions of Section 3.15 and this ARTICLE 
VI shall survive for the full period of all applicable statutes of limitations (giving effect to any waiver, mitigation or extension thereof)
plus 60 days.

 

    24 

     

    

 

ARTICLE VII

INDEMNIFICATION

 

Section 7.01
        Survival. Subject to the limitations and other provisions of this
Agreement, the representations and warranties contained herein (other than any representations or warranties contained in
Section 3.15 which are subject to ARTICLE  VI) shall survive the Closing and shall terminate at 5:00 p.m., United States
Eastern time, on the date that is 24 months from the Closing Date; provided, that the representations and warranties in
Section 3.01, Section 3.02(a), Section 3.04, Section 3.05 and Section 3.06 (collectively,
the “Fundamental Company Representations”), and  Section  4.01 and Section  4.02 (collectively,
the “Fundamental Argo Representations”) shall survive indefinitely. The survival period of each representation or
warranty as provided in this Section 7.01 is hereinafter referred to as the “Survival Period”. All covenants
and undertakings of the parties contained herein shall survive the Closing until fully performed or fulfilled. Notwithstanding the
foregoing, any claims asserted in good faith with reasonable specificity (to the extent known at such time) and in writing by notice
from the Indemnified Party to the Indemnifying Party prior to the expiration date of the applicable Survival Period shall not
thereafter be barred by the expiration of the relevant representation or warranty and such claims shall survive until finally
resolved.

 

Section 7.02
         Indemnification by Owners. Subject to the other terms and conditions of this ARTICLE  VII, each recipient of Ordinary
Shares pursuant to the Allocation Schedule set forth in Schedule A-2, severally and not jointly, in proportion to the number of Ordinary
Shares actually received by such recipient as consideration under this Agreement, shall indemnify and defend each of Argo and its Affiliates
and their respective Representatives (collectively, the “Argo Indemnitees”) against, and shall hold each of them harmless
from and against, and shall pay and reimburse each of them for, any and all Losses incurred or sustained by, or imposed upon, the Argo
Indemnitees based upon, arising out of, with respect to or by reason of:

 

(a)            any
inaccuracy in or breach of any of the representations or warranties of the Company contained in ARTICLE III of this Agreement, or
in any certificate or instrument delivered by or on behalf of the Company pursuant to this Section 2.06(a) of this Agreement
(other than in respect of Section 3.15, it being understood that the sole remedy for any such inaccuracy in or breach thereof shall
be pursuant to ARTICLE VI), as of the date such representation or warranty was made or as if such representation or warranty was
made on and as of the Closing Date (except for representations and warranties that expressly relate to a specified date, the inaccuracy
in or breach of which will be determined with reference to such specified date);

 

(b)            any
claim arising out of the Company’s failure to file the appropriate documentation to qualify to do business in the State of Texas;

 

(c)            any
breach or non-fulfillment of any covenant, agreement or obligation to be performed by the Company pursuant to this Agreement (other than
any breach or violation of, or failure to fully perform, any covenant, agreement, undertaking or obligation in ARTICLE VI, it being
understood that the sole remedy for any such breach, violation or failure shall be pursuant to ARTICLE VI);

 

(d)            any
claim made by any Owner relating to such Owner’s rights with respect to the Merger Consideration;

 

(e)            any
expenses incurred by the Company in connection with this Agreement or any Indebtedness of the Company outstanding as of the Closing, to
the extent not paid or satisfied by the Company at or prior to the Closing, or if paid by Argo or Merger Sub at or prior to the Closing,
to the extent not deducted in the determination of Closing Consideration.

 

    25 

     

    

 

Section 7.03         
Indemnification by Argo. Subject to the other terms and conditions of this ARTICLE  VII, Argo shall indemnify and defend
each recipient of Ordinary Shares pursuant to the Allocation Schedule set forth in Schedule A-2 (the
 “Recipients”) in proportion to the number of Ordinary Shares actually received by such Recipient as consideration
under this Agreement, and their Affiliates and their respective Representatives (together with the Recipients, the “Owner
Indemnitees”) against, and shall hold each of them harmless from and against, and shall pay and reimburse each of them
for, any and all Losses incurred or sustained by, or imposed upon, the Owner Indemnitees based upon, arising out of, with respect to
or by reason of:

 

(a)            any
inaccuracy in or breach of any of the representations or warranties of Argo and Merger Sub contained in ARTICLE IV of this Agreement,
or in any certificate or instrument delivered by or on behalf of Argo or Merger Sub pursuant to Section 2.06(b) of this Agreement,
as of the date such representation or warranty was made or as if such representation or warranty was made on and as of the Closing Date
(except for representations and warranties that expressly relate to a specified date, the inaccuracy in or breach of which will be determined
with reference to such specified date); or

 

(b)            any
breach or non-fulfillment of any covenant, agreement or obligation to be performed by Argo or Merger Sub pursuant to this Agreement (other
than  ARTICLE VI, it being understood that the sole remedy for any such breach thereof shall be pursuant to ARTICLE VI).

 

Section 7.04
          Limitations on Liability. Notwithstanding anything to the contrary in this Agreement:

 

(a)            The indemnification
obligations of the Recipients shall not apply until the aggregate amount of all Losses arising therefrom exceed $50,000 (the “Threshold
Amount”). The Recipients shall be liable for Losses with respect to claims in excess of the Threshold Amount, but subject to
a maximum aggregate liability amount equal to the General Representations Cap Amount; provided that claims for any inaccuracy in or breach
of any of the Fundamental Company Representations shall be subject to a maximum aggregate liability amount equal to the Fundamental Representations
Cap Amount.

 

(b)            Notwithstanding
the fact that any Indemnified Party may have the right to assert claims of Losses for indemnification under or in respect of more than
one provision of this Agreement in respect of any fact, event, condition or circumstance, no Indemnified Party shall be entitled to recover
the amount of any Losses suffered by such Indemnified Party more than once, regardless of whether such Losses may be as a result of a
breach of more than one representation, warranty or covenant.

 

Section 7.05        
Indemnification Procedures. The party making a claim under this ARTICLE VII is referred to as the “Indemnified Party”,
and the party against whom such claims are asserted under this ARTICLE  VII is referred to as the “Indemnifying Party”.
For purposes of this ARTICLE VII, (i) if Argo (or any other Argo Indemnitee) comprises the Indemnified Party, any references
to Indemnifying Party shall be deemed to refer to the Recipients, and (ii) if Argo comprises the Indemnifying Party, any references
to the Indemnified Party shall be deemed to refer to the Owner Indemnitees. Any payment received by the Recipients as the Indemnified
Party shall be distributed to the Recipients in accordance with the Allocation Schedule then in effect.

 

    26 

     

    

 

(a)            Third Party
Claims. If any Indemnified Party receives notice of the assertion or commencement of any Action made or brought by any Person who
is not a party to this Agreement or an Affiliate of a party to this Agreement or a Representative of the foregoing (a “Third
Party Claim”) against such Indemnified Party with respect to which the Indemnifying Party is obligated to provide indemnification
under this Agreement, the Indemnified Party shall give the Indemnifying Party reasonably prompt written notice thereof, but in any event
not later than 30 calendar days after receipt of such notice of such Third Party Claim. The failure to give such prompt written notice
shall not, however, relieve the Indemnifying Party of its indemnification obligations, except and only to the extent that the Indemnifying
Party forfeits rights or defenses by reason of such failure. Such notice by the Indemnified Party shall describe the Third Party Claim
in reasonable detail, shall include copies of all material written evidence thereof and shall indicate the estimated amount, if reasonably
practicable, of the Loss that has been or may be sustained by the Indemnified Party. The Indemnifying Party shall have the right to participate
in, or by giving written notice to the Indemnified Party to assume the defense of any Third Party Claim at the Indemnifying Party’s
expense and by the Indemnifying Party’s own counsel, and the Indemnified Party shall cooperate in good faith in such defense; provided,
that if the Indemnifying Party are the Owners, such Indemnifying Party shall not have the right to defend or direct the defense of
any such Third Party Claim that seeks an injunction or other equitable relief against the Indemnified Parties. In the event that the
Indemnifying Party assumes the defense of any Third Party Claim, subject to Section 7.04(a), it shall have the right to take such
action as it deems necessary to avoid, dispute, defend, appeal or make counterclaims pertaining to any such Third Party Claim in the
name and on behalf of the Indemnified Party. The Indemnified Party shall have the right to participate in the defense of any Third Party
Claim with counsel selected by it subject to the Indemnifying Party’s right to control the defense thereof. The fees and disbursements
of such counsel shall be at the expense of the Indemnified Party, provided, that if in the reasonable opinion of counsel to the
Indemnified Party, (A) there are legal defenses available to an Indemnified Party that are different from or additional to those
available to the Indemnifying Party; or (B) there exists a conflict of interest between the Indemnifying Party and the Indemnified
Party that cannot be waived, the Indemnifying Party shall be liable for the reasonable fees and expenses of counsel to the Indemnified
Party in each jurisdiction for which the Indemnified Party determines counsel is required. If the Indemnifying Party elects not to compromise
or defend such Third Party Claim, fails to promptly notify the Indemnified Party in writing of its election to defend as provided in
this Agreement or fails to diligently prosecute the defense of such Third Party Claim, the Indemnified Party may, subject to Section 7.04(b),
pay, compromise, defend such Third Party Claim and seek indemnification for any and all Losses based upon, arising from or relating to
such Third Party Claim. The Recipients and Argo shall cooperate with each other in all reasonable respects in connection with the defense
of any Third Party Claim, including making available records relating to such Third Party Claim and furnishing, without expense (other
than reimbursement of actual out-of-pocket expenses) to the defending party, management employees of the non-defending party as may be
reasonably necessary for the preparation of the defense of such Third Party Claim.

 

(b)            Settlement
of Third Party Claims. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not enter into
settlement of any Third Party Claim without the prior written consent of the Indemnified Party, except as provided in this
Section 7.04(b). If a firm offer is made to settle a Third Party Claim without leading to liability or the creation of a
financial or other obligation on the part of the Indemnified Party and provides, in customary form, for the unconditional release of
each Indemnified Party from all liabilities and obligations in connection with such Third Party Claim and the Indemnifying Party
desires to accept and agree to such offer, the Indemnifying Party shall give written notice to that effect to the Indemnified Party.
If the Indemnified Party fails to consent to such firm offer within ten (10) days after its receipt of such notice, the
Indemnified Party may continue to contest or defend such Third Party Claim and in such event, the maximum liability of the
Indemnifying Party as to such Third Party Claim shall not exceed the amount of such settlement offer. If the Indemnified Party fails
to consent to such firm offer and also fails to assume defense of such Third Party Claim, the Indemnifying Party may settle the
Third Party Claim upon the terms set forth in such firm offer to settle such Third Party Claim. If the Indemnified Party has assumed
the defense pursuant to Section 7.04(a), it shall not agree to any settlement without the written consent of the Indemnifying
Party (which consent shall not be unreasonably withheld, conditioned or delayed).

 

    27 

     

    

 

(c)            Direct
Claims. Any Action by an Indemnified Party on account of a Loss which does not result from a Third Party Claim (a “Direct
Claim”) shall be asserted by the Indemnified Party giving the Indemnifying Party reasonably prompt written notice thereof, but
in any event not later than thirty (30) days after the Indemnified Party becomes aware of such Direct Claim. The failure to give such
prompt written notice shall not, however, relieve the Indemnifying Party of its indemnification obligations, except and only to the extent
that the Indemnifying Party forfeits rights or defenses by reason of such failure. Such notice by the Indemnified Party shall describe
the Direct Claim in reasonable detail, shall include copies of all material written evidence thereof and shall indicate the estimated
amount, if reasonably practicable, of the Loss that has been or may be sustained by the Indemnified Party. The Indemnifying Party shall
have 30 days after its receipt of such notice to respond in writing to such Direct Claim. The Indemnified Party shall allow the Indemnifying
Party and its professional advisors to investigate the matter or circumstance alleged to give rise to the Direct Claim, and whether and
to what extent any amount is payable in respect of the Direct Claim and the Indemnified Party shall assist the Indemnifying Party’s
investigation by giving such information and assistance (including access to the Company’s premises and personnel and the right
to examine and copy any accounts, documents or records) as the Indemnifying Party or any of its professional advisors may reasonably request.
If the Indemnifying Party does not so respond within such 30 day period, the Indemnifying Party shall be deemed to have rejected such
claim, in which case the Indemnified Party shall be free to pursue such remedies as may be available to the Indemnified Party on the terms
and subject to the provisions of this Agreement.

 

(d)           Tax
Claims. Notwithstanding any other provision of this Agreement, the control of any claim, assertion, event or proceeding in
respect of Taxes of the Company (including, but not limited to, any such claim in respect of a breach of the representations and
warranties in  Section 3.15 hereof or any breach or violation of or failure to fully perform any covenant, agreement,
undertaking or obligation in ARTICLE  VI) shall be governed exclusively by ARTICLE  VI hereof.

 

Section 7.06          Payments.

 

(a)            Once
a Loss is agreed to by the Indemnifying Party or finally adjudicated to be payable pursuant to this ARTICLE  VII, subject
to Section 7.06(b) the Indemnifying Party shall satisfy its obligations within 15 Business Days of such final, non-appealable
adjudication by wire transfer of immediately available funds. Subject to Section 7.06(b), the parties hereto agree that should an
Indemnifying Party not make full payment of any such obligations within such 15 Business Day period, any amount payable shall accrue interest
from and including the date of agreement of the Indemnifying Party or final, non-appealable adjudication to and including the date such
payment has been made at a rate per annum equal to 1.00%. Such interest shall be calculated daily on the basis of a 365 day year and the
actual number of days elapsed.

 

(b)            Notwithstanding
the preceding sentence, in the event that Argo is the Indemnified Party, any recoverable Losses in excess of the Retention Amount
shall be recovered (x) first, from any earned but yet unpaid Milestone Payments; (y) thereafter, by cancelling Ordinary
Shares registered under the name of the relevant Owner in Argo’s book-entry system, Argo shall cancel a number of Ordinary
Shares determined by dividing the aggregate amount of Losses by the volume weighted average price of an Ordinary Share of Argo on
the London Stock Exchange calculated from the closing price and daily trading volumes reported by Bloomberg for the period of ten
(10) full trading days ending on the trading day immediately prior to the date when the payment of the Loss is due; and
(iii) thereafter, by recovering from each Owner directly, in which case payment will be subject to 
Section 7.06(a).

 

    28 

     

    

 

Section 7.07
          Tax Treatment of Indemnification Payments. All indemnification payments made under this Agreement shall be treated by
the parties as an adjustment to the Merger Consideration for Tax purposes, unless otherwise required by Law.

 

Section 7.08
           Effect of Investigation. The representations, warranties
and covenants of the Indemnifying Party, and the Indemnified Party’s right to indemnification with respect thereto, shall not
be affected or deemed waived by reason of any investigation made by or on behalf of the Indemnified Party (including by any of its
Representatives).

 

Section 7.09
          Exclusive Remedies. The sole and exclusive remedy of the parties and their heirs, successors and assigns after the Closing
with respect to a claim of Losses relating to this Agreement or the Merger, whether direct or resulting from any claim brought by a third
party (other than claims arising from fraud, criminal activity or willful misconduct 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 ARTICLE  VI and this ARTICLE  VII. 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 ARTICLE  VI and this ARTICLE  VII. Nothing in this Section 7.09 shall limit any Person’s right to seek
and obtain any equitable relief to which any Person shall be entitled or to seek any remedy on account of any party’s fraudulent,
criminal or intentional misconduct.

 

ARTICLE VIII

MISCELLANEOUS

 

Section 8.01
          Expenses. Except as otherwise expressly provided herein, all costs and expenses, including, without limitation, fees
and disbursements of counsel, financial advisors and accountants, incurred in connection with this Agreement and the transactions contemplated
hereby shall be paid by the party incurring such costs and expenses.

 

Section 8.02
          Notices. All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and
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 facsimile or e-mail 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 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 8.02):

 

    29 

     

    

 

	If
to the Company:	DPN LLC
	 	 
	 	178 8th Ave,
	 	 
	 	Brooklyn NY 11215
	 	 
	 	E-mail: justinhnolan@gmail.com
	 	 
	 	Attention:	Authorized Representative
	 	 	 
	with a copy to:	Zuber Lawler LLP
	 	 
	 	350 S. Grand Avenue, 32nd Floor
	 	 
	 	Los Angeles, CA 90071, USA
	 	 
	 	E-mail: jlawler@zuberlawler.com
	 	 
	 	Attention:	Josh Lawler, Esq.
	 	 	 
	If to Argo or Merger Sub:	Argo Innovation Facilities (US), Inc.
	 	 
	 	2028 East Ben White Boulevard, Suite 240
	 	 
	 	Austin, Texas 78741-6931
	 	 
	 	E-mail: pwall@argoblockchain.com
	 	 
	 	Attention:	Peter Wall, CEO
	 	 	 
	with a copy to:	Burns Figa & Will PC
	 	 
	 	6400 S. Fiddlers Green Circle, Suite 1000
	 	 
	 	Greenwood Village, CO 80111
	 	 
	 	E-mail: vbantz@bfwlaw.com
	 	 
	 	Attention:	Victoria Bantz, Esq.
	 	 	 
	If to Owners:	To the respective  mailing
address  and email  address listed in the Allocation Schedule

 

Section 8.03
          Interpretation. For purposes of this Agreement, (a) the words “include,” “includes” and “including”
shall be deemed to be followed by the words “without limitation”; (b) the word “or” is not exclusive; and
(c) the words “herein,” “hereof,” “hereby,” “hereto” and “hereunder”
refer to this Agreement as a whole. Unless the context otherwise requires, references herein: (x) to Articles, Sections, Disclosure
Schedules and Exhibits mean the Articles and Sections of, and Disclosure Schedules and Exhibits attached to, this Agreement; (y) to
an agreement, instrument or other document means such agreement, instrument or other document as amended, supplemented and modified from
time to time to the extent permitted by the provisions thereof and (z) to a statute means such statute as amended from time to time
and includes any successor legislation thereto and any regulations promulgated thereunder. This Agreement shall be construed without regard
to any presumption or rule requiring construction or interpretation against the party drafting an instrument or causing any instrument
to be drafted. The Disclosure Schedules and Exhibits referred to herein shall be construed with, and as an integral part of, this Agreement
to the same extent as if they were set forth verbatim herein.

 

Section 8.04
        Headings. The headings in this Agreement are for reference only and shall not affect the interpretation of this Agreement.

 

    30 

     

    

 

Section 8.05
         Severability. If any term or provision of this Agreement is
invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other
term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon
such determination that any term or other provision is invalid, illegal or unenforceable, the parties hereto shall negotiate in good
faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable
manner in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest extent
possible.

 

Section 8.06
         Entire Agreement. This Agreement and the Ancillary Documents constitute the sole and entire agreement of the parties to this Agreement
with respect to the subject matter contained herein and therein, and supersede all prior and contemporaneous understandings and agreements,
both written and oral, with respect to such subject matter. In the event of any inconsistency between the statements in the body of this
Agreement and those in the Ancillary Documents, the Exhibits and Disclosure Schedules (other than an exception expressly set forth as
such in the Disclosure Schedules), the statements in the body of this Agreement will control.

 

Section 8.07
          Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and
their respective successors and permitted assigns. Neither party may assign its rights or obligations hereunder without the prior written
consent of the other party, which consent shall not be unreasonably withheld, conditioned or delayed. No assignment shall relieve the
assigning party of any of its obligations hereunder.

 

Section 8.08
        No Third-party Beneficiaries. This Agreement is for the sole benefit of the parties hereto and their respective successors and permitted
assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person or entity any legal or equitable
right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

 

Section 8.09
         Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of
Delaware without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other
jurisdiction).

 

Section 8.10
          Specific Performance. The parties agree that irreparable damage would occur if any provision of this Agreement were not performed
in accordance with the terms hereof and that the parties shall be entitled to specific performance of the terms hereof, in addition to
any other remedy to which they are entitled at law or in equity. In no event shall any party be required to post a bond or any other form
of surety in conjunction with any grant of injunctive or other equitable relief.

 

Section 8.11
          Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together
shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail or other means of electronic
transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

 

Section 8.12
RELEASES. IN CONSIDERATION OF THE PROMISES AND AGREEMENTS SET FORTH IN THIS AGREEMENT, UPON THE CLOSING, EACH RECIPIENT WILL AND
HEREBY DOES RELEASE AND FOREVER DISCHARGES COMPANY AND EACH OTHER RECIPIENT (COLLECTIVELY, THE “RELEASEES”), OF
AND FROM ANY AND ALL CLAIMS OF EVERY KIND AND NATURE WHATSOEVER AT LAW OR IN EQUITY, CURRENT OR FUTURE, CONTINGENT OR
NON-CONTINGENT, MATURED OR UNMATURED, LIQUIDATED OR UNLIQUIDATED, SUSPECTED OR UNSUSPECTED, KNOWN OR UNKNOWN, FORESEEABLE OR
UNFORESEEABLE, DISCLOSED OR UNDISCLOSED, WHETHER OR NOT CONCEALED OR HIDDEN, THAT THE RELEASING PARTY EVER HAD, NOW HAS, OR IN THE
FUTURE MAY HAVE AGAINST THE RELEASEES FOR, UPON AND BY REASON OF OR IN CONNECTION WITH, ANY MATTER, CAUSE OR THING WHATSOEVER,
INCLUDING, WITHOUT LIMITATION, THE RECIPIENT’S STATUS AS A MEMBER OF THE COMPANY OR RECIPIENT’S RIGHTS TO ANY
PARTICIPATION OR INTEREST IN THE COMPANY OR MERGER SUB, UNLESS OTHERWISE PROVIDED IN THIS AGREEMENT OR ONE OF THE ANCILLARY
DOCUMENTS.

 

    31 

     

    

 

Section 8.13
          SEPARATE LEGAL COUNSEL. ZUBER LAWLER LLP solely represents the Company, Justin Nolan and David Nolan in connection with the
transactions set forth in this Agreement and its exhibits, schedules, attachments and Ancillary Documents (collectively, the “Transaction
Documents”). ZUBER LAWLER LLP does not represent any other person in connection with the transactions set forth in the Transaction
Documents, nor has provided any legal counsel in regard to the negotiation, interpretation, and/or execution of the Transaction Documents,
to any person other than the Company, Justin Nolan and David Nolan. ZUBER LAWLER LLP has no fiduciary duty to any person other than the
Company, Justin Nolan and David Nolan in that regard. Each Owner acknowledges to have been given reasonable opportunity, and to have been
strongly encouraged to review the Transaction Documents with its own legal counsel in order to protect such Owner’s interests.

 

[SIGNATURE PAGE FOLLOWS]

 

    32 

     

    

 

 

IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be executed as of the date first written above by their respective officers thereunto duly authorized.

 

 

	 	COMPANY:
	 	 
	 	DPN LLC
	 	 
	 	By	/s/ Justin Nolan
	 	Name: Justin Nolan
	 	Title: Authorized Signatory
	 	 
	 	 
	 	ARGO:
	 	 
	 	ARGO BLOCKCHAIN PLC
	 	 
	 	By	/s/ Peter Wall
	 	Name: Peter Wall
	 	Title: Chief Executive Officer
	 	 
	 	 
	 	MERGER SUB:
	 	 
	 	ARGO INNOVATION FACILITIES (US), INC.
	 	 
	 	By	/s/ Peter Wall
	 	Name: Peter Wall
	 	Title: Chief Executive Officer
	 	 
	 	 
	 	OWNERS:
	 	 
	 	 
	 	Justin Nolan
	 	 
	 	 
	 	David Nolan
	 	 
	 	 
	 	Shahla F. Ali
	 	 
	 	 
	 	Jon Cohen

 

    33

    

    

 

	 	 
	 	EEPLUS, Inc.
	 	By:
	 	Title:
	 	 
	 	 
	 	Savage IO, Inc.
	 	By:
	 	Title:
	 	 
	 	 
	 	Zach Winick
	 	 
	 	 
	 	Alex Freeman
	 	 
	 	 
	 	Concerted Ventures, Inc.
	 	By:
	 	Title:

 

    34

    

    

 

EXHIBIT A

 

Description of Helios Site

 

Owned Real Property:

 

SURFACE ESTATE ONLY to the Northeast One-fourth (NE/4) of
Survey 2, AB&M, Certificate No. 322, Abstract No. 1093, Dickens County, Texas.

 

Option to Purchase Real Property:

 

SURFACE ESTATE ONLY to 157.33 acres out of the Southeast
One-fourth (SE/4) of Survey 2, AB&M, Certificate No. 322, Abstract No. 1093, Dickens County, Texas.

 

    35

    

    

 

SCHEDULE A-1

 

Initial Allocation Schedule

 

	Owners	 	Ordinary Shares	 	 	Indemnification	 
	 	 	 	 	 	 	 
	Justin Nolan	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address: 178 8th Ave,	 	 	50.00	%	 	 	50.00	%
	Brooklyn NY 11215	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Email: justin.nolan@dpn.llc	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Jon Cohen	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address:114 Dean St. Apt 1, Brooklyn,	 	 	24.00	%	 	 	24.00	%
	NY 11201	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Email: jcohen09@outlook.com	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	David Nolan	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address: 200 Dorado Beach Drive Apr	 	 	10.00	%	 	 	10.00	%
	3722, Dorado Puerto Rico 00646	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Email: dpnolan7788@gmail.com	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Shahla Ali	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address:10 Emerson Court, Hampton	 	 	9.00	%	 	 	9.00	%
	Bays, NY 11946	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Email: shahlafali@gmail.com	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	EEPLUS, Inc.	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address: 405 State Highway 121	 	 	5.00	%	 	 	5.00	%
	Bypass, Suite A250, Lewisville, TX 	 	 	 	 	 	 	 	 
	75067	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Email:  talati@eeplus.com;	 	 	 	 	 	 	 	 
	sahni@eeplus.com	 	 	 	 	 	 	 	 

 

    36

    

    

 

	Savage IO, Inc.	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address: 45 O’Connor Rd, Fairport NY	 	 	1.00	%	 	 	1.00	%
	14450	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Email: sgarvin@savageio.com	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Zach Winick	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address: 141 Boulder Ridge Road,	 	 	0.50	%	 	 	0.50	%
	Scarsdale, NY 10583	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Email: zachwinick@gmail.com	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Alex Freeman	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address: 103 North 10th Street #4F,	 	 	0.50	%	 	 	0.50	%
	Brooklyn, NY 11249	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Email: alex.freeman2@gmail.com	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Concerted Ventures, Inc.	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address: 33530 1st Way South, Suite	 	 	0.00	%	 	 	0.00	%
	102, Federal Way, WA 98003	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Email: Tim@concertedventure.com,	 	 	 	 	 	 	 	 
	allan@concertedventure.com	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Total	 	 	100.00	%	 	 	100.00	%

 

    37

    

    

 

SCHEDULE A-2

 

Allocation Schedule Post Milestone 2.04(a)(ii)(A)

 

	Name of Receiving Party	 	Ordinary Shares	 	 	Indemnification	 
	 	 	 	 	 	 	 
	Justin Nolan	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address: 178 8th Ave,	 	 	47.52	%	 	 	47.52	%
	Brooklyn NY 11215	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Email: justin.nolan@dpn.llc	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Jon Cohen	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address:114 Dean St. Apt 1,	 	 	22.81	%	 	 	22.81	%
	Brooklyn, NY 11201	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Email: jcohen09@outlook.com :	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	David Nolan	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address: 200 Dorado Beach Drive Apr	 	 	9.50	%	 	 	9.50	%
	3722, Dorado Puerto Rico 00646	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Email:dpnolan7788@gmail.com	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Shahla Ali	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address:10 Emerson Court,	 	 	8.50	%	 	 	8.50	%
	Hampton Bays, NY 11946	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Email: shahlafali@gmail.com	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	EEPLUS, Inc.	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address: 405 State Highway 121	 	 	4.75	%	 	 	4.75	%
	Bypass, Suite A250,	 	 	 	 	 	 	 	 
	Lewisville, TX 75067	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Email:  talati@eeplus.com;	 	 	 	 	 	 	 	 
	sahni@eeplus.com	 	 	 	 	 	 	 	 

 

    38

    

    

 

	Savage IO, Inc.	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address: 45 O’Connor Rd,	 	 	0.95	%	 	 	0.95	%
	Fairport NY 14450	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Email: sgarvin@savageio.com	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Zach Winick	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address: 141 Boulder Ridge Road,	 	 	0.48	%	 	 	0.48	%
	Scarsdale, NY 10583	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Email: zachwinick@gmail.com	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Alex Freeman	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address: 103 North 10th Street #4F,	 	 	0.48	%	 	 	0.48	%
	Brooklyn, NY 11249	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Email: alex.freeman2@gmail.com	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Concerted Ventures, Inc.	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address: 33530 1st Way South, Suite	 	 	5.00	%	 	 	5.00	%
	102, Federal Way, WA 98003	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Email:  Tim@concertedventure.com,	 	 	 	 	 	 	 	 
	allan@concertedventure.com	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Total	 	 	100.00	%	 	 	100.00	%

 

    39

    

    

 

EXHIBIT B

 

Form of Certificate of Merger

 

State of Delaware

Certificate of Merger
of

Domestic Limited Liability
Company into

Domestic Corporation

 

Pursuant to Title
8, Section 264 of the Delaware General Corporation Law (the "DGCL") and Title 6, Section 18-209 of the Delaware
Limited Liability Company Act (“LLC Act”), the undersigned corporation executed the following Certificate of Merger.

 

FIRST: The name of
the surviving corporation is Argo Innovation Facilities (US), Inc. (“Surviving Corporation”) and the name of
the limited liability company being merged into this surviving corporation is DPN LLC (“Merging LLC”).

 

SECOND:
The Agreement and Plan of Merger has been approved, adopted, certified, executed, and acknowledged by the Surviving Corporation
and the Merging Corporation.

 

THIRD: The
name of the Surviving corporation is Argo Innovation Facilities (US), Inc. a Delaware corporation.

 

FOURTH: The
Certificate of Incorporation of the Surviving Corporation, as in effect immediately prior to the merger, shall be the Certificate of Incorporation
of the Surviving Corporation.

 

FIFTH: The merger is to become effective on March 4,
2021.

 

SIXTH:
The Agreement and Plan of Merger is on file at 2028 East Ben White Boulevard, Suite 240, Austin, Texas 78741-6931, the
place of business of the surviving corporation.

 

SEVENTH: A
copy of the Agreement and Plan of Merger will be furnished by the Surviving Corporation on request, without cost, to any member of Merging
LLC or any stockholder of Surviving Corporation.

 

    40

    

    

 

IN WITNESS WHEREOF,
the Surviving Corporation has caused this certificate to be signed by an authorized officer, the 4th day of March, 2021

 

 

	 	ARGO INNOVATION FACILITIES (US), INC.
	 	 
	 	By:	/s/ Peter Wall
	 	Name: Peter Wall
	 	Title: President

 

    41Exhibit 10.4

 

Execution Version

 

SHARE PURCHASE AGREEMENT

 

DATED AS OF FEBRUARY 2, 2021

 

    

    

    

 

TABLE OF CONTENTS

 

	Article 1 INTERPRETATION	2
	1.1 	Definitions	2
	1.2 	Articles, Sections and Headings	2
	1.3 	Extended Meanings	2
	1.4 	Accounting Principles	2
	1.5 	Currency	2
	1.6 	Calculation of Time	2
	1.7 	Exhibits and Schedules	3
	Article 2 PURCHASE AND SALE	3
	2.1 	Purchase and Sale of Purchased Shares; Assumed and Retained Liabilities	3
	2.2 	Purchase Price and Allocation	3
	2.3 	Payment of Purchase Price	3
	2.4 	Pre-Closing Purchase Price Adjustments	4
	2.5 	Post-Closing Purchase Price Adjustments	5
	2.6
	Payment of the Post-Closing Adjustment	8
	Article 3 REPRESENTATIONS AND WARRANTIES	8
	3.1 	Representations and Warranties of the Vendors	8
	3.2 	Representations and Warranties of the Purchaser	9
	3.3 	Investigation	9
	3.4 	Disclosure	9
	3.5 	Survival of Representations, Warranties and Covenants	9
	Article 4 COVENANTS	10
	4.1 	Operation of Business	10
	4.2 	Cooperation	14
	4.3 	Standstill	15
	4.4 	Notice and Cure Provisions	15
	4.5 	Certain Covenants of the Parties	16
	4.6 	Pre-Closing Reorganization	17
	4.7 	Transferred Employees	18
	Article 5 CONDITIONS PRECEDENT	19
	5.1 	Conditions Precedent in favour of the Purchaser	19
	5.2 	Conditions Precedent in favour of the Vendors	21
	Article 6 CLOSING ARRANGEMENTS	22
	6.1 	Closing	22
	6.2 	Vendors’ Closing Deliveries	22
	6.3 	Purchaser Closing Deliveries	24
	Article 7 INDEMNIFICATION	25
	7.1 	Indemnification by the Vendors	25
	7.2 	Indemnification by the Purchaser	25
	7.3 	Limitations on Indemnification	25
	7.4 	Direct Claims	26
	7.5 	Notice of Third Party Claims	26
	7.6 	Defence of Third Party Claims	27

 

    

    - 2
                                                                          -

    

 

	7.7	Defence of Third Party Claims for Taxes 	28
	7.8	Assistance for Third Party Claims 	29
	7.9	Right to Claim from Escrow	29
	7.10	Failure to Give Timely Notice 	29
	7.11	Payment and Interest 	29
	7.12	Purchase Price Adjustment 	30
	Article 8 TERMINATION   	30
	8.1	Termination 	30
	Article 9 GENERAL 	30
	9.1	Further Assurances	30
	9.2	No Waiver 	31
	9.3	Cost and Expenses 	31
	9.4	Public Announcements 	31
	9.5	Successors, Assigns and Assignments 	31
	9.6	Entire Agreement 	32
	9.7	Amendments and Waivers 	32
	9.8	Notices 	32
	9.9	Governing Law and Forum 	33
	9.10	Severability 	33
	9.11	Specific Performance and other Discretionary Rights 	33
	9.12	Counterparts 	33
	9.13	Language 	34
	Exhibit A Definitions 	1
	Exhibit B Form of Escrow Agreement 	1
	Exhibit C Form of Mutual Release 	1
	Exhibit D Form of D&O Release	1
	SCHEDULE 4.6.1(a)	1

 

    

    

    

 

EXECUTION
VERSION

 

THIS SHARE PURCHASE AGREEMENT is made as of February 2, 2021

 

		AMONG:	GPU.ONE HOLDING INC., a legal person duly incorporated under the Canada
Business Corporations Act, having its head office at 3680 avenue du Musée, Montreal, Quebec, H3G 2C9;

 

(“GPU Holding”)

 

		AND:	GPU.ONE ENTERPRISE INC., a legal person duly incorporated under the Canada Business Corporations Act, having its head office at 3682 avenue du Musée, Montreal, Quebec, H3G 2C9;

                                                                                 

                                                                                (“GPU Enterprise” and, collectively with GPU Holding, the “Vendors”)

 

		AND:	ARGO INNOVATION LABS INC., a legal person duly incorporated under the Business Corporations Act (British Columbia), having its head office at 700-401 W. Georgia St., Vancouver, British Columbia, V6B 5A1;

                                                                                 

                                                                                (the “Purchaser”)

 

		AND TO WHICH INTERVENES:	9366-5230
                                            QUÉBEC INC., a legal person duly incorporated under the Business Corporations
                                            Act (Quebec), having its head office at 3680 avenue du Musée, Montreal, Quebec,
                                            H3G 2C9;

                                                                                 

                                                                                (“MirabelCo”)

 

		AND:	9377-2556 QUÉBEC INC., a legal person duly incorporated
under the Business Corporations Act (Quebec), having its head office at 3680 avenue du Musée, Montreal, Quebec, H3G 2C9;

 

(“BaieComeauCo” and, collectively with MirabelCo, the “Targets”)

 

WHEREAS as of the date hereof, the Vendors
are the sole shareholders of each of the Targets and, immediately following the completion of the Pre-Closing Reorganization, GPU Enterprise
shall be the sole shareholder of each of the Targets;

 

WHEREAS the Targets are the owners of two
(2) cryptocurrency mining facilities located in Mirabel, QC, and Baie-Comeau, QC (the “Business”);

 

    

    - 2 -

    

 

WHEREAS the Purchaser desires to purchase,
and the Vendors desire to sell, all of the issued and outstanding shares in the share capital of the Targets, the whole subject to the
terms and conditions hereinafter set forth;

 

NOW THEREFORE, in consideration of the
premises and mutual agreements herein contained, and for other good and valuable consideration (the receipt and sufficiency of which are
acknowledged by each Party), the Parties agree as follows:

 

ARTICLE 1

INTERPRETATION

 

		1.1	Definitions 

 

The capitalized words and expressions
used in this Agreement or in its Schedules shall have the meaning ascribed to them in Exhibit A, unless otherwise expressly stated herein.

 

		1.2	Articles, Sections and Headings 

 

The division of this Agreement into
Articles, Sections, Exhibits and Schedules and the insertion of headings are for convenience of reference only and will not affect the
construction or interpretation of this Agreement. The terms “hereof”, “hereunder”, “herein” and similar
expressions refer to this Agreement and not to any particular Article, Section, Exhibit, Schedule or other portion hereof. References
herein to Articles, Sections, Exhibits or Schedules are to Articles, Sections, Exhibits and Schedules of this Agreement or of the Exhibits
and Schedules hereto unless otherwise expressly stated herein.

 

		1.3	Extended Meanings 

 

In this Agreement, words importing the
singular number also include the plural and vice versa and words importing any gender include all genders. The term “including”
means “including, without limiting the generality of the foregoing”.

 

		1.4	Accounting Principles 

 

Wherever in this Agreement reference
is made to a calculation to be made or an action to be taken in accordance with generally accepted accounting principles, such reference
will be deemed to be made to ASPE, applicable as at the date on which such calculation or action is made or taken or required to be made
or taken in accordance with ASPE.

 

		1.5	Currency 

 

Except as expressly provided herein,
all references to currency contained herein are to lawful money of Canada.

 

		1.6	Calculation of Time 

 

		1.6.1	Time. Time is of the essence of this Agreement.

 

    

    - 3 -

    

 

		1.6.2	Calculation of Time. Unless otherwise specified, time periods within or following which any payment
or action is to be taken shall be calculated by excluding the day on which the period commences and including the day on which the period
ends. Where the last day of any such time period is not a Business Day, such time period shall be extended to the next Business Day following
the day on which it would otherwise end.

 

		1.6.3	Time of Day. All references to times of the day are to the times of the day in Montreal, Québec.

 

		1.7	Exhibits and Schedules 

 

The following Exhibits and Schedules
attached hereto are incorporated by reference and deemed to be part hereof:

 

Exhibits 

 

	Exhibit A	Definitions
	 	 
	Exhibit B	Form of Escrow Agreement
	 	 
	Exhibit C	Form of Mutual Release
	 	 
	Exhibit D	Form of D&O Resignation and Release

 

ARTICLE 2

PURCHASE AND
SALE

 

		2.1	Purchase and Sale of Purchased Shares; Assumed and Retained Liabilities 

 

Upon and subject to the terms and conditions
hereof, the Vendors shall sell to the Purchaser, and the Purchaser shall purchase from the Vendors, on the Closing Date, all of the issued
and outstanding shares of the Targets (the “Purchased Shares”).

 

		2.2	Purchase Price and Allocation 

 

Subject to the adjustments provided
in Sections 2.4 and 2.5, the purchase price for the Purchased Shares shall be equal to $8,629,002.25 (the “Purchase Price”).

 

		2.3	Payment of Purchase Price 

 

The Purchase Price shall be paid and
satisfied at the Closing as follows:

 

		2.3.1	Initial Consideration. The Purchaser shall pay to the Vendors at the Closing, by wire transfer
of immediately available funds to the account specified by the Vendors to the Purchaser, an amount equal to $200,000.00 (the “Initial
Consideration”).

 

    

    - 4 -

    

 

		2.3.2	Hydro-Québec Deposit and ADM Deposit. The Purchaser shall pay to the Vendors at Closing
by wire transfer of immediately available funds to the account specified by the Vendors to the Purchaser, an amount equal to the Hydro-Québec
Deposit and the ADM Deposit.

 

		2.3.3	Set Off of Claims. The Vendors agree that the Purchaser shall operate compensation and set off
the following amounts from the Purchase Price payable hereunder: (i) an amount of $7,140,408.58 in deposits previously paid by the Purchaser
to the Vendors in accordance with the terms of the Master Services Agreement; and (ii) an amount of $819,730.27 in cash that the Vendors
received from the Purchaser on September 9, 2020 for subcontracted hosting services received from Core Scientific Inc.

 

		2.3.4	Adjustment and Indemnity Escrow. The Purchaser shall direct its legal counsel to pay to the Escrow
Agent at Closing, by wire transfer of immediately available funds to the account specified by the Escrow Agent to the Purchaser, an amount
equal to $300,000.00 (such amount, together with all interest earned thereon, is hereinafter referred to as the “Escrow Amount”).
The Escrow Amount shall be held and invested for a period of six (6) months following the Closing Date and shall be disbursed as specified
in the Escrow Agreement.

 

		2.4	Pre-Closing Purchase Price Adjustments 

 

		2.4.1	Estimated
                                            Closing Indebtedness and Closing Working Capital. Between the fifth (5th)
                                            and the third (3rd) Business Days prior to the Closing Date, the Vendors shall:
                                            

 

		(a)	deliver to the Purchaser a written good faith estimate of the Closing Indebtedness (the “Estimated
Closing Indebtedness”), together with the detailed calculations and backup information supporting such estimate; and for greater
certainty, liabilities that are included in Working Capital are excluded from Closing Indebtedness; and

 

		(b)	deliver to the Purchaser a written good faith estimate of the Closing Working Capital (the “Estimated
Closing Working Capital”), together with the detailed calculations and backup information supporting such estimate.

 

The Vendors shall supply to the Purchaser
such information and documentation required by the Purchaser, and shall make themselves available to respond to requests of the Purchaser,
with respect to the Estimated Closing Indebtedness and the Estimated Closing Working Capital.

 

For illustrative purposes, Section
2.4.1 of the Disclosure Letter contains a calculation of the Closing Indebtedness and the Closing Working Capital as if Closing had occurred
on December 31, 2020 and based upon the Year-End Financial Statements. Such Section indicates how the calculations will be made and not
how any particular item will be valued at Closing.

 

    

    - 5 -

    

 

		2.4.2	Pre-Closing Adjustments. The Initial Consideration shall be adjusted as follows prior to the Closing:

 

		(a)	If the Estimated Closing Indebtedness exceeds the Desjardins Loan Amount, the Initial Consideration and
the Purchase Price shall be decreased by an amount equal to the amount by which the Estimated Closing Indebtedness exceeds the Desjardins
Loan Amount.

 

		(b)	If the Estimated Closing Working Capital exceeds the Target Working Capital, the Initial Consideration
and the Purchase Price shall be increased by an amount equal to the amount by which the Estimated Closing Working Capital exceeds the
Target Working Capital. If the Estimated Closing Working Capital is less than the Target Working Capital, the Initial Consideration and
the Purchase Price shall be decreased by an amount equal to the amount by which the Target Closing Working Capital exceeds the Estimated
Closing Working Capital.

 

		(c)	In the event any negative adjustment arising from the application of Sections 2.4.2(a) and 2.4.2(b) results
in a decrease of the Initial Consideration in excess of the total value of the Initial Consideration, the remaining balance of the negative
adjustment shall be deducted from the Escrow Amount and immediately remitted by the Escrow Agent to the Purchaser.

 

		2.5	Post-Closing Purchase Price Adjustments 

 

		2.5.1	Post-Closing Adjustments. The Purchase Price shall be adjusted as follows after Closing (without
duplication of any adjustments taken into account in accordance with Section 2.4):

 

		(a)	If the Closing Indebtedness exceeds the Estimated Closing Indebtedness, the Purchase Price shall be decreased
by the amount by which the Closing Indebtedness exceeds the Estimated Closing Indebtedness. If the Closing Indebtedness is less than the
Estimated Closing Indebtedness, the Purchase Price shall be increased by the amount by which the Estimated Closing Indebtedness exceeds
the Closing Indebtedness.

 

		(b)	If the Closing Working Capital exceeds the Estimated Closing Working Capital, the Purchase Price shall
be increased by the amount by which the Closing Working Capital exceeds the Estimated Closing Working Capital. If the Closing Working
Capital is less than the Estimated Closing Working Capital, the Purchase Price shall be decreased by an amount equal to the amount by
which the Estimated Closing Working Capital exceeds the Closing Working Capital.

 

    

    - 6 -

    

 

		2.5.2	Closing Date Financial Statements 

 

		(a)	No later than ninety (90) days after the Closing Date, the Purchaser shall cause Crowe BGK LLP to prepare
and deliver (i) the Closing Date Financial Statements prepared in accordance with ASPE, (ii) the calculation of the Closing Indebtedness
and the Closing Working Capital based on such Closing Date Financial Statements (collectively, the “Closing Calculations”).
The Parties shall cooperate fully in the preparation of the Closing Calculations. The Purchaser and the Vendors shall be permitted access
to the working papers of Crowe BGK LLP in respect of the Closing Date Financial Statements and the Closing Calculations in accordance
with customary protocols regarding such access.

 

		(b)	Each of the Purchaser and the Vendors may object to the Closing Calculations by written notice to the
Purchaser parties, or the Vendor parties, as applicable, within thirty (30) Business Days following receipt thereof, which notice shall
specify in reasonable detail those items or amounts as to which the notifying Party objects (the “Objection Notice”)
and the Parties shall be deemed to have agreed upon all other items and amounts contained in such Closing Calculations which are not impacted
by items or amounts objected to in the Objection Notice. If no Objection Notice is made within the period and in the manner specified
in the preceding sentence, or if the Purchaser and the Vendors confirm in writing that they accept the Closing Calculations prior to the
end of such thirty (30) Business Day period, then the Closing Calculations shall be conclusive, final and binding on all the Parties without
possibility of amendment or appeal and shall constitute the final Closing Calculations.

 

		(c)	If an Objection Notice is delivered in the manner and within the thirty (30)  Business
Day period specified in the preceding paragraph, the Parties shall in good faith attempt to resolve any matters in dispute with respect
to the Closing Calculations as promptly as practicable. If the Purchaser and the Vendors are unable to resolve all such items in dispute
within ten (10) Business Days after the receipt of the Objection Notice giving rise to such dispute, then those items or calculations
in dispute shall be submitted for resolution within five (5) Business Days following such ten (10) Business Day period to Ernst &
Young LLP, or such other independent firm of chartered accountants as the Purchaser and the Vendors may agree in writing or, failing agreement,
as appointed by the court (each being the “Independent Firm”). The Independent Firm will limit its review only to the
specific items or calculations in dispute (except to the extent that ASPE requires adjustments to other items as a result thereof). The
Parties shall use commercially reasonable efforts to cause the Independent Firm to submit its determination or opinion in a written statement
delivered to the Purchaser and the Vendors as promptly
as practicable, but in no event later than thirty (30) Business Days of the appointment of such Independent Firm, and such determination
or opinion, together with those items accepted by the Purchaser and the Vendors in respect of the Closing Calculations or otherwise resolved
between the Purchaser and the Vendors, shall be conclusive, final and binding on all the Parties without possibility of amendment or appeal
and shall constitute the final Closing Calculations.

 

    

    - 7 -

    

 

		(d)	For greater certainty, upon receipt of the said Objection Notice all other amounts contained in such Closing
Calculations which are not impacted by items or amounts objected to in the Objection Notice shall be immediately considered as final,
and shall be paid concurrently with any other amounts owing in accordance with Section 2.6.

 

		(e)	While the Independent Firm is making its determination hereunder, the Parties shall not communicate with
the Independent Firm on the subject matter of its review, except by joint conference call, joint meeting or letter with copy simultaneously
delivered to the other Parties. Each of the Purchaser and the Vendors will be permitted by the Independent Firm to make a submission with
respect to its position on the matters in dispute.

 

		(f)	The Parties will bear their respective fees and expenses (including those of their respective advisors)
in preparing, auditing, reviewing, agreeing to, objecting to, or resolving, as the case may be, the Closing Calculations, except as otherwise
provided in the remainder of this paragraph. The costs of any fees and expenses of the Independent Firm and of any enforcement of the
determination thereof, shall be borne by the Purchaser, on the one hand, and the Vendors, on the other hand, in inverse proportion as
they may prevail on the matters resolved by the Independent Firm, which proportionate allocation shall be calculated on an aggregate basis
based on the relative dollar values of the amounts in dispute and shall be determined by the Independent Firm at the time the determination
of such firm is rendered on the merits of the matters submitted.

 

		(g)	The accounting and audit procedures provided for by this Section 2.5.2 shall be the exclusive and conclusive
methodology for determination of the matters covered thereby and shall be binding upon the Parties and shall not be contested by any of
them other than as provided for in this Section 2.5.2.

 

    

    - 8 -

    

 

		2.6	Payment of the Post-Closing Adjustment 

 

Within five (5) Business Days of the
Closing Calculations becoming final as per the provisions of Section 2.5.2(b) or Section 2.5.2(c), as the case may be:

 

		2.6.1	if the aggregate sum of the adjustments set forth in Section 2.5.1 results in an increase in the Purchase
Price (the “Positive Adjustment Amount”), the Positive Adjustment Amount shall be paid by wire transfer, as follows:

 

		(a)	the amount of the Positive Adjustment Amount shall be paid to the Vendors directly by the Purchaser; or

 

		2.6.2	if the aggregate sum of the adjustments set forth in Section 2.5.1 results in a reduction in the Purchase
Price (the “Negative Adjustment Amount”), the Negative Adjustment Amount shall be paid by wire transfer, as follows:

 

		(a)	if the Negative Adjustment Amount is less than or equal to the unpaid balance of the POD-1 Consideration,
the Purchaser and the Vendors shall operate compensation on such amounts owed to one another and the Vendors shall forever release and
discharge the Purchaser from payment of the portion of the POD-1 Consideration used to compensate the Negative Adjustment Amount; and

 

		(b)	if the Negative Adjustment Amount is greater than the unpaid balance of the POD-1 Consideration, (i) the
Purchaser and the Vendors shall operate compensation on the entirety of the POD-1 Consideration and the Vendors shall forever release
and discharge the Purchaser from payment of the full balance of the POD-1 Consideration used to compensate, in part, the Negative Adjustment
Amount; (ii) the Escrow Agent shall deliver to the Purchaser the amount by which the Negative Adjustment Amount exceeds the unpaid balance
of the POD-1 Consideration; and, if applicable, (iii) the amount by which the Negative Adjustment Amount exceeds the sum of the unpaid
balance of the POD-1 Consideration and
the Escrow Amount shall be paid to the Purchaser directly by the Vendors.

 

ARTICLE 3

REPRESENTATIONS AND WARRANTIES

 

		3.1	Representations and Warranties of the Vendors 

 

On the date hereof and on the Closing
Date, the Vendors solidarily with each other represent and warrant to and in favour of the Purchaser as set forth in Schedule 3.1 hereof
and acknowledge that the Purchaser is relying upon such representations and warranties in entering into this Agreement and purchasing
the Purchased Shares notwithstanding any investigation made at any time by or on behalf of the Purchaser.

 

    

    - 9 -

    

 

		3.2	Representations and Warranties of the Purchaser 

 

On the date hereof and on the Closing
Date, the Purchaser represents and warrants to and in favour of the Vendors as set forth in Schedule 3.2 hereof and acknowledges that
the Vendors are relying upon such representations and warranties in entering into this Agreement notwithstanding any investigation made
at any time by or on behalf of the Vendors.

 

		3.3	Investigation 

 

No investigations, inspections, reviews,
surveys or tests made by or on behalf of any Party at any time shall affect, mitigate, waive, diminish the scope of or otherwise affect
any representation or warranty made by any other Party in or pursuant to this Agreement.

 

		3.4	Disclosure 

 

Disclosure of any fact or item in any
Schedule referenced by or to a particular Article or Section in this Agreement shall be deemed to have been disclosed only with respect
to such Article or Section in this Agreement. The Purchaser and the Vendors acknowledge and agree that to the extent any disclosures made
in the Disclosure Letter are required to be updated pursuant to the terms and conditions of this Agreement, or the Party making such disclosure
deems it necessary to ensure that the disclosures made are accurate with respect to the representations and warranties made herein, the
Parties agree that such updated Section of the Disclosure Letter, as applicable, shall be included in the certificates contemplated to
be delivered at Closing in Sections 6.2.1(b) and 6.3.1(b), subject to the rights of the Parties set forth in Sections 5.1.2 and 5.2.2,
respectively, and Article 8 hereof. For avoidance of doubt, any such amended disclosure shall specifically identify the Section or Sections
of the Disclosure Letter, which are to be amended thereby.

 

		3.5	Survival of Representations, Warranties and Covenants 

 

		3.5.1	All representations and warranties made by the Vendors in this Agreement and in the officer certificates
delivered pursuant to Section 5.1.1(a) shall survive the Closing as follows:

 

		(a)	the representations and warranties set forth in Sections 3.1.1, 3.1.2, 3.1.3, 3.1.5, 3.1.6, 3.1.7, 3.1.8,
3.1.25 and 3.1.40 of Schedule 3.1 (collectively, the “Vendor Fundamental Representations”) shall survive the Closing
without time limit;

 

		(b)	the representations and warranties set forth in Sections 3.1.29 and 3.1.30 of Schedule 3.1 with respect
to Environmental and Tax matters shall survive the Closing and continue for a period ending ninety (90) days following the expiration
of all prescription periods pursuant to applicable Laws, including, in the case of Tax matters, all periods allowed for objecting to and
appealing from the determination of any proceedings relating to any assessment or reassessment in respect of any taxation period to which
such representations and warranties or indemnity extend, taking into account any waiver or similar
document extending such period; and

 

    

    - 10 -

    

 

		(c)	all of the other representations and warranties of the Vendors in this Agreement and in any Closing Document
shall survive the Closing and continue for a period of twenty-four (24) months from the Closing Date.

 

After such periods, the Vendors shall
have no further liability hereunder with respect to such representations and warranties except with respect to Claims made within such
periods in accordance with the terms of this Agreement.

 

		3.5.2	All representations and warranties made by the Purchaser in this Agreement and in the officer certificates
delivered pursuant to Section 5.2.1(a) shall survive the Closing as follows:

 

		(a)	the representations and warranties set forth in Sections 3.2.1 and 3.2.2 (the “Purchaser Fundamental
Representations”) shall survive the Closing without time limit; and

 

		(b)	all of the other representations and warranties of the Purchaser in this Agreement and in any Closing
Document shall survive the Closing and continue for a period of twenty-four (24) months from the Closing Date.

 

After such periods, the Purchaser shall
have no further liability hereunder with respect to such representations and warranties except with respect to Claims made within such
periods in accordance with the terms of this Agreement.

 

		3.5.3	The covenants, obligations and agreements of each Party contained in this Agreement and in any Closing
Document, as well as the right of the Purchaser Indemnified Parties to make Claims in respect of Section 7.1.1(c) and the right of the
Vendor Indemnified Parties to make Claims in respect of Section 7.2.1(c), shall survive the Closing and continue without time limit.

 

		3.5.4	Notwithstanding anything herein contained to the contrary, in the case of any breach by a Party of any
representation or warranty involving fraud, intentional or gross fault, there shall be no time limitation on the right of the other Parties
to bring any Claim in respect of such breach and to be indemnified in respect thereof.

 

ARTICLE 4

COVENANTS

 

		4.1	Operation of Business 

 

		4.1.1	General Terms. Without qualifying any other term of this Article 4, the Vendors hereby covenant
and agree from the date hereof until the Closing Date that they shall cause the Targets to carry on, the Business only in the Ordinary
Course and in compliance with all Laws. Without limiting any of the foregoing, the Vendors shall, at all times, maintain
the following equipment in good operation, so as to ensure that the Purchaser can maintain its VPN and cryptocurrency mining operations
currently facilitated by the Business: routing core ASA1fw.mir, and distribution cores rtr1.mir (6509), rtr2.mir (6509), sw1.local167
(2960) and sw1.office.

 

    

    - 11 -

    

 

		4.1.2	Negative Covenants. Without limiting the foregoing, the Vendors hereby covenant and agree that
they shall not, and shall cause the Targets not to, do or attempt to do, enter into any discussion or take any steps with respect to any
of the following:

 

		(a)	proceed with any merger, amalgamation, plan of arrangement, reorganization or other business combination
or similar transaction or the acquisition of all or a material portion of the shares, assets or business of any Person which would affect
the transactions contemplated herein;

 

		(b)	reduce the stated capital of the Targets;

 

		(c)	sell, lease, transfer, create or allow any Encumbrance to affect, or otherwise dispose of, any of the
assets of the Targets, other than inventory in the Ordinary Course;

 

		(d)	proceed with any joint venture, strategic alliance, non-competition or similar restrictive covenant or
other transaction which would restrict the Vendors’ or Targets’ ability to carry out the transactions contemplated herein;

 

		(e)	permit or have any acceleration or discounting in the collection of the Accounts Receivable, or any delay
in the payment of Accounts Payable of Targets, it being understood that the collection and payment of such accounts respectively shall
at all times be made in the Ordinary Course;

 

		(f)	change any accounting methods, principles, practices or policies or any business practices or policies
relating to the Targets;

 

		(g)	permit or have any material change in the nature or operation of the Business of Targets;

 

		(h)	incur or guarantee any Liability (other than in the Ordinary Course), make any loans, advances or capital
contributions to, or make any other investment in, any Person, or issue or sell any equity, debt or convertible securities;

 

		(i)	declare or pay any dividend or declare, authorize or make any distribution of, on or in respect of any
securities of the Targets;

 

		(j)	amend any of the Constating Records of the Targets;

 

    

    - 12 -

    

 

		(k)	split, combine or reclassify any shares in the share capital of the Targets or allot, reserve, set aside,
issue, authorize, purchase, redeem, deliver, create an Encumbrance or dispose of any shares in the share capital of the Targets and any
of its securities;

 

		(l)	institute, cancel or modify any Employee Plan;

 

		(m)	enter into any transaction, understanding or arrangement with any Person with whom the Vendors or the
Targets are not dealing at arm’s length (as this term is defined for the purpose of the Tax Act);

 

		(n)	effect any capital expenditure or make any commitment to make a capital expenditure in excess of $5,000;

 

		(o)	enter into, renew, or terminate any Material Contract, or amend or revise any Material Contract in a manner
which is adverse to any of the Targets which is party to such Material Contract or the Business going forward, or enter into: (i) any
multi-year Contracts that cannot be terminated by the Purchaser without penalty or that contain liquidated damage or penalty provisions
of any kind, or (ii) obligations under commodity purchase or option agreements or other commodity price hedging arrangements (whether
contingent or matured) or Derivative Contracts;

 

		(p)	proceed with any liquidation, consolidation, recapitalization or other restructuring of the Targets;

 

		(q)	pay or agree to pay to any Person: (i) any increase in compensation, benefits, severance or termination
pay, or (ii) any bonus, severance amounts for termination or termination packages;

 

		(r)	other than as expressly contemplated in this Agreement, hire, terminate or enter into any employment agreement
with any Employees;

 

		(s)	commence, settle or compromise any Claim (subject to the obligations of the Vendors pursuant to Section 4.5.2(e));

 

		(t)	with respect to Taxes of the Targets, make or change any Tax election, change any annual Tax accounting
period, adopt or change any material Tax accounting method, file any amended Tax Return, enter into any closing agreement, settle any
material Tax claim or assessment, enter into any advance pricing agreement with respect to Taxes, or other agreement with a Governmental
Authority, surrender any right to claim a Tax abatement, reduction, exemption, credit or refund, or consent to any extension or waiver
of the limitation period applicable to any material Tax claim or assessment, or take any similar action relating to the filing of any
material Tax Return or the payment of any material Tax; or

 

    

    - 13 -

    

 

		(u)	enter into any agreement or other commitment whatsoever to do any of the foregoing.

 

		4.1.3	Certain Positive Covenants. The Vendors hereby further covenant and agree that from the date hereof
until the Closing Date they shall, and they shall cause the Targets to:

 

		(a)	preserve and maintain all Permits required for the conduct of the Business as currently conducted or the
ownership and use of the assets of the Targets;

 

		(b)	timely (taking into account any applicable extension of time within which to file) file any Tax Return
required to be filed and pay all debts and Taxes when due and payable;

 

		(c)	continue to collect Accounts Receivable in the Ordinary Course, without discounting such Accounts Receivable;

 

		(d)	maintain the coverage under all policies listed on Section 3.1.38 of the Disclosure Letter in full
force and effect until the Closing Date;

 

		(e)	use their best efforts to preserve intact the respective business organizations and goodwill of the Targets
and keep available in all material respects the services of each member of the Target’s officers and key Employees and maintain
in all material respects satisfactory relationships with suppliers, distributors, customers and others with whom any Target has business
relationships;

 

		(f)	maintain and preserve all assets of the Targets and keep such assets in good repair, working order and
condition;

 

		(g)	maintain the Books and Records in the Ordinary Course;

 

		(h)	comply in all material respects with all Laws applicable to the conduct of the Business or the ownership
and use of the assets of the Targets.

 

		4.1.4	For the avoidance of doubt, the provisions of this Agreement, including without limitation Sections 4.1.2
and 4.1.3, shall not prevent the Vendors from entering into any agreement or transaction (including, without limitation, a sale) with
respect to its shares in any Subsidiary other than the Targets, nor any other transaction which may be contemplated in connection therewith,
provided that no such agreement or transaction has any adverse impact on the transactions contemplated in this Agreement, including the
sale of the Purchased Shares to the Purchaser or the Parties’ respective obligations
hereunder and under any Closing Document.

 

    

    - 14 -

    

 

		4.2	Cooperation

 

		4.2.1	General Terms. Each Party shall, from time to time and at all times hereafter (including after
the Closing Date), at the request of another Party, but without further consideration, perform all such acts and execute and deliver all
such documents and instruments as shall be reasonably required in order to fully perform, carry out or better evidence the terms and intent
hereof. In particular, the Vendors shall use their best efforts to efficiently transition the operations of the Business to the Purchaser,
including by assisting the Purchaser in pursuing any outstanding GST or QST Tax claims related to the 2019 and 2020 Tax years.

 

		4.2.2	Cooperation of Vendors. Without limiting the foregoing, the Vendors hereby covenant and agree that
they shall, and they shall cause the Targets to:

 

		(a)	permit the Purchaser and its Representatives to have reasonable access during business hours to the Business,
to the Constating Records and to the Books and Records, including all environmental files, customer and supplier files, price lists, claim
files, litigation files and Employee files related to the Business and to management of the Targets;

 

		(b)	promptly provide to the Purchaser all information (including but not limited to financial, customer, product
and operating data) and access to the Business, Books and Records, and personnel of the Business and the Targets that has not been provided
prior to the date hereof, as the Purchaser and its Representatives may reasonably request for the purpose of conducting such due diligence
as is required for the purposes contemplated hereby and the transactions contemplated by this Agreement; and

 

		(c)	for the first eight (8) weeks following the Closing Date and for a period of up to twenty (20)
                                                                hours per week, the Vendors shall make available certain of their key employees to the Purchaser including, without limitation,
                                                                Dominic Pilon and Luke Rossy, at no additional cost to the Purchaser. Such key employees of the Vendors shall cooperate with the
                                                                Purchaser and provide general assistance with respect to any transitional issues identified by the Purchaser from time to time
                                                                during such eight (8) week
period. As of the ninth (9th) week following the Closing Date, the Vendors shall
continue to provide access to such key employees upon reasonable request from the Purchaser at a rate equal to the gross hourly rate paid
by the Vendors to each key employee.

 

    

    - 15 -

    

 

		4.3	Standstill

 

Until the earlier of (A) the
Closing, or (B) such time as this Agreement is validly terminated pursuant to Article 8, the Vendors shall not, and shall
cause the Targets and each Representative of the Vendors or the Targets not to, directly or indirectly, solicit, initiate, encourage
or entertain any inquiries or proposals from, discuss or negotiate with, provide any non-public information to or consider the
merits of any inquiries or proposals from any Person (other than the Purchaser or its Affiliates) which may lead, directly or
indirectly, to (i) a sale or disposition of any securities of the Targets, any assets thereof or the Business (other than the
sale of inventory in the Ordinary Course), (ii) a sale of all or substantially all the assets of the Targets or any other
equity or ownership interest in the Targets (or any right to acquire the same), or (iii) a merger with or acquisition of any of
the Targets or other restructuring, recapitalization or reorganization involving the Targets or any of the Targets’ material
assets (each of the above described operations being hereinafter referred to as a “Competing Transaction”). The
Vendors hereby confirm that they and the Targets have terminated any and all negotiations relating to any Competing Transaction with
all Persons other than the Purchaser and its Affiliates. From the date hereof until the Closing Date, the Vendors shall notify the
Purchaser promptly of any offer or proposal and the terms thereof related to the Purchased Shares, the assets of the Targets or any
other proposed direct or indirect Competing Transaction, within twenty-four (24) hours of receipt or awareness of the same by the
Vendors or the Targets.

 

		4.4	Notice and Cure Provisions

 

		4.4.1	Each of the Purchaser and Vendors shall promptly notify the others of the occurrence, or failure to occur,
of any event or state of facts which occurrence or failure would, or would be reasonably likely to:

 

		(a)	cause any of the representations or warranties of such Party contained in this Agreement to be untrue
or inaccurate in any material respect at any time from the date of this Agreement to the Closing Date;

 

		(b)	result in the failure to comply with or satisfy any covenant, condition or agreement to be complied with
or satisfied by such Party under this Agreement in a manner that would be reasonably likely to impede or delay the transactions contemplated
hereby; or

 

		(c)	result in a Material Adverse Change.

 

		4.4.2	In the circumstances contemplated by Sections 4.4.1(a) and 4.4.1(b), the Purchaser or the Vendors,
as the case may be (the “Terminating Party”), may elect to terminate this Agreement, by delivering a written notice
(“Termination Notice”) to the other Party (the “Breaching Party”) specifying in reasonable detail
all breaches of covenants, representations and warranties or other matters which the Terminating Party asserts as the basis for termination.
After delivering a Termination Notice, provided the Breaching Party is proceeding diligently to cure such matter and such matter is capable
of being cured prior to the Outside Date, the Terminating Party
may not exercise such termination right until the earlier of (a) the Outside Date, and (b) the date that is ten (10) Business
Days following receipt of such Termination Notice by the Breaching Party, if such matter has not been cured by such date.

 

    

    - 16 -

    

 

		4.5	Certain Covenants of the Parties

 

		4.5.1	Certain Covenants of the Parties. Each Party hereby covenants and agrees in favour of the other
that it shall (and, in the case of the Vendors, that they shall cause the Targets to):

 

		(a)	perform all obligations required to be performed by such Party (and, in the case of the Vendors, required
to be performed by the Targets) under this Agreement and the Closing Documents, and shall do all such other acts and things not expressly
referenced herein as may be commercially reasonable in order to consummate and make effective, as soon as reasonably practicable, the
transactions contemplated hereby and thereby and shall not take any action that will have the effect of delaying, impairing or impeding
the Closing or the receipt of any authorizations, consents, orders or approvals to be sought pursuant to this Agreement or pursuant to
any Closing Document;

 

		(b)	not enter into any transaction or perform any act or omit to perform any act which would (i) interfere
or be inconsistent with the successful completion of the transactions contemplated in this Agreement or in any Closing Document in accordance
with the terms hereof or thereof, (ii) render
untrue or incorrect any of the representations and warranties of such Party set forth in this Agreement or in any Closing Document, or
(iii) adversely affect the ability of such Party (or, in the case of the Vendors, the ability of the Targets) to perform and comply
with its covenants and agreements under this Agreement or any Closing Document; and

 

		(c)	promptly advise the other Parties in writing of (i) any fact, event or any change occurring after
the date hereof that would render any representation or warranty of such Party contained in this Agreement, untrue or incorrect or would
result in any condition precedent in favour of the other Parties not being met, (ii) any Material Adverse Change, (iii) any
breach by such Party (and, in the case of the Vendors, any breach by the Targets ) of any covenant, undertaking or agreement contained
in this Agreement or in any Closing Document, or (iv) any actual or potential death, disability, resignation, termination of employment
or other departure of any Employee of the Group.

 

    

    - 17 -

    

 

		4.5.2	Covenants of the Vendors. Without limiting the foregoing, the Vendors shall and they shall cause
the Targets to:

 

		(a)	use its commercially reasonable efforts to cause the conditions set forth in Sections 5.1.1(b) to
5.1.1(h), inclusively, to be satisfied on or prior to the Closing Date;

 

		(b)	cause the conditions set forth in Section 5.1.1(a) to be satisfied on or prior to the Closing
Date;

 

		(c)	effect all necessary registrations, filings and submissions of information required by Governmental Authorities
from the Vendors and/or the Targets;

 

		(d)	comply promptly with all requirements which applicable Laws may impose on the Vendors or the Targets with
respect to the transactions contemplated in this Agreement or in any Closing Document;

 

		(e)	use its best efforts to lift or rescind any injunction or restraining order or other order relating to
the Targets, challenging or affecting this Agreement or the Closing Documents or the consummation of the transactions contemplated hereby
or thereby; and

 

		(f)	take, when required, on or prior to the Closing Date, all necessary steps and proceedings to permit the
Purchased Shares to be duly and regularly transferred to and registered in the name of the Purchaser.

 

		4.5.3	Covenants of the Purchaser. Without limiting the foregoing, the Purchaser shall:

 

		(a)	use its commercially reasonable efforts to cause the conditions in Section 5.2.1(b) to be satisfied
on or prior to the Closing Date;

 

		(b)	cause the conditions set forth in Section 5.2.1(a) to be satisfied on or prior to the Closing
Date.

 

		4.6	Pre-Closing Reorganization

 

		4.6.1	Prior to the Closing Date, the Vendors shall, and shall cause the Targets to, undergo and complete a corporate
reorganization of the Vendors, the Targets, and their respective assets (collectively, the “Pre-Closing Reorganization”),
pursuant to which, inter alia:

 

		(a)	any and all assets owned, leased or otherwise in the possession of the Vendors and required to operate
the Business of the Targets as it is currently carried out, excluding the assets making out the Vendors’ ‘POD-1’ which
shall be conveyed to the Purchaser or the Targets pursuant to the POD-1 Bill of Sale, shall be duly transferred to the Targets on a rollover basis for Tax purposes, including
for avoidance of doubt, all assets described in Schedule 4.6.1(a);

 

    

    - 18 -

    

 

		(b)	as consideration for the assets transferred as per Section 4.6.1(a), the Targets shall have issued
common shares to the Vendors, the whole in accordance with the provisions of the rollover agreements entered into among the Vendors and
the Targets and approved by the Purchaser;

 

		(c)	all intercompany debts, obligations or other liabilities owing by or to the Targets and the Vendors shall
be discharged in full; and

 

		(d)	all of the issued and outstanding shares in the Targets held by GPU Holding or any other Person shall
have been duly transferred to GPU Enterprise.

 

Prior to the Closing Date, the Vendors
shall deliver to the Purchaser true and complete copies of each of the executed and/or filed documents, including all resolutions, certificates,
agreements, elections and transfer forms, entered into by the Targets and the Vendors in order to effect the Pre-Closing Reorganization.

 

		4.7	Transferred Employees

 

		4.7.1	In accordance with Section 6.3.1(g), the Purchaser shall or shall cause the Targets to assume those
Employees agreed upon in writing by the Purchaser and the Vendors, and listed in Section 4.7 of the Disclosure Letter, upon terms
and conditions of employment which are at least substantially equivalent, in all material respects, to those in effect as at Closing (each
a “Transferred Employee”) and deliver the Employment Agreements. As of Closing, Purchaser shall, or shall cause the
Targets to recognize that each Transferred Employee’s length of service with the Purchaser or the Targets, as the case may be, includes
the length of service recognized by the Vendors. The Vendors and the Purchaser agree to cooperate with and assist one another in discussing
employment matters with the Transferred Employees.

 

		4.7.2	From and after the Closing Date, the Targets and/or the Purchaser, as the case may be, shall be responsible
for and shall assume all legal and contractual obligations, as the employer of the Transferred Employees, for wages, salaries, commissions,
bonuses, benefits, overtime pay, vacation pay, severance pay and other remuneration or benefits which accrue after the Closing Date, or,
to the extent such obligations have been properly accrued and reflected in the Closing Date Financial Statements, at any time prior to
the Closing.

 

    

    - 19 -

    

 

		4.7.3	The Vendors shall remain responsible for and shall retain all legal and contractual obligations, except
as otherwise provided as liabilities in the Closing Date Financial Statements:

 

		(a)	as the employer of the Transferred Employees, for wages, salaries, commissions, bonuses, benefits, overtime
pay, vacation pay, severance pay and other remuneration or benefits which accrue on or prior to the Closing except to the extent such
obligations have been properly accrued and reflected in the Closing Date Financial Statements.

 

		(b)	for wages, salaries, commissions, bonuses, benefits, overtime pay, vacation pay, severance pay and other
remuneration or benefits, in respect of all Employees who do not become Transferred Employees, regardless of whether such obligations
accrue on, after or prior to the Closing; and

 

		(c)	for any change of control, special bonuses, retention, termination, severance or any other similar payments
owed to Employees, the directors or officers of the Targets, or any other Person, conditional on, payable pursuant to, or in connection
with, the Closing, regardless of when such payments are actually paid or payable.

 

For the avoidance of doubt, the Targets,
the Purchaser and their respective Affiliates shall have no responsibilities or obligations in connection with the matters contemplated
by this Section 4.7.3.

 

		4.7.4	At Closing, the Vendors shall provide to the Targets copies of personnel records relating to the Transferred
Employees and any information reasonably required by the Purchaser for the purposes of administrating employee files and benefits.

 

ARTICLE 5

CONDITIONS PRECEDENT

 

		5.1	Conditions Precedent in favour of the Purchaser

 

		5.1.1	Conditions. The obligations of the Purchaser to purchase the Purchased Shares shall be subject
to the satisfaction, on or before the Closing Date, of each of the following conditions precedent (each of which is for the Purchaser’s
exclusive benefit and may be waived by the Purchaser, in whole or in part at its option, and any one or more of which, if not satisfied
or waived, will relieve the Purchaser of any obligation under this Agreement):

 

		(a)	each of the acts, undertakings, obligations, agreements and covenants of the Vendors and the Targets under
this Agreement or under any Closing Document to be performed or complied with on or before the Closing Date shall have been duly performed
or complied with in all material respects, and the Purchaser shall have received a certificate of the Vendors addressed to the Purchaser
and dated as of the Closing Date confirming same. The acceptance by the Purchaser, in its sole discretion, of a certificate which does
not correspond in all respects to the terms of the preceding sentence shall be deemed to constitute a variation or amendment, to the extent therein described,
of the provisions of this Agreement or any Closing Document;

 

    

    - 20 -

    

 

		(b)	each of the representations and warranties made in favour of the Purchaser pursuant to this Agreement
shall be true, complete and correct in all material respects (except that those representations and warranties which are qualified as
to material, materiality, Material Adverse Change or similar expressions, or are subject to the same or similar type exceptions, shall
be true, complete and correct in all respects) on the Closing Date as if made on and as of such date, and the Purchaser shall have received
a certificate of the Vendors addressed to the Purchaser and dated as of the Closing Date confirming same. The acceptance by the Purchaser,
in its sole discretion, of a certificate which does not correspond in all respects to the terms of the preceding sentence shall be deemed
to be a waiver of any representation or warranty contained in this Agreement to the extent therein described;

 

		(c)	there shall not have occurred, in the judgment of the Purchaser, acting reasonably, a Material Adverse
Change since the execution of this Agreement;

 

		(d)	the Purchaser shall be satisfied that no Claim or Threatened Claim shall have been taken, made, threatened
or instituted, whether or not having the force of Law, and no Law or Order shall have been proposed, enacted, promulgated, issued or applied:
(i) to prohibit or impose any limitation or condition on the completion of the transactions contemplated herein or in any Closing
Document or the right of the Purchaser to own or exercise full rights of ownership of all of the Purchased Shares; or (ii) which,
if the transactions contemplated herein were completed, could reasonably be expected to result in a Material Adverse Change or prevent
the Targets from carrying on, in all material respects, the Business as presently carried on;

 

		(e)	the Purchase shall be satisfied with the results of its due diligence relating to the Targets and the
Business;

 

		(f)	all Required Third Party Consents shall have been obtained;

 

		(g)	the Pre-Closing Reorganization shall have been duly completed to the satisfaction of the Purchaser; and

 

		(h)	the Purchaser shall be satisfied, acting reasonably, that no fact or circumstance identified in its confirmatory
due diligence of the Targets, their respective assets and the Business would or could result in a Material Adverse Change or materially
and adversely affect, delay or impair the transactions contemplated hereby.

 

    

    - 21 -

    

 

		5.1.2	Non-Fulfilment. In the event that one or more of the conditions set forth in this Section 5.1
is not fulfilled on or before the Closing Date and the Purchaser does not waive such condition pursuant to this Section 5.1, the
Purchaser may, in its discretion and upon delivery of written confirmation thereof to the Vendors, grant to the Vendors a thirty (30)
day extension period to fulfill such condition. Any additional extension period may be agreed to in writing by the Parties. However, in
the event that one or more of the conditions set forth in this Section 5.1 is not fulfilled on or before the extended date, the date
agreed upon by the Parties or, at the latest, the Outside Date and the Purchaser does not waive such condition pursuant to this Section 5.1,
the Purchaser may elect not to effect the Closing, and, if the Purchaser so elects, this Agreement shall be terminated, in which event
none of the Vendors nor the Purchaser shall have any further obligations hereunder nor any liability, recourse or penalty against one
another; provided that, if such condition is not fulfilled as a result of a voluntary breach of any representation or warranty of the
Vendors, or the failure at the volition of the Vendors or the Targets to perform a covenant, obligation or undertaking to be performed
by the Vendors or the Targets, such termination shall not prejudice the Purchaser’s right to pursue its legal remedies against the
Vendors with respect to such voluntary breach or failure.

 

		5.2	Conditions Precedent in favour of the Vendors

 

		5.2.1	Conditions. The obligations of the Vendors to sell the Purchased Shares shall be subject to the
satisfaction, on or before the Closing Date, of each of the following conditions precedent (each of which is for the exclusive benefit
of the Vendors and may be waived by the Vendors, in whole or in part at their option, and any one or more of which, if not satisfied or
waived, will relieve the Vendors of any obligation under this Agreement):

 

		(a)	each of the acts, undertakings, obligations, agreements and covenants of the Purchaser under this Agreement
or under any Closing Document to be performed or complied with on or before the Closing Date shall have been duly performed or complied
with in all material respects, and the Vendors shall have received a certificate of the Purchaser addressed to the Vendors and dated as
of the Closing Date, confirming same. The acceptance by the Vendors, in their sole discretion, of a certificate which does not correspond
in all respects to the terms of the preceding sentence shall be deemed to constitute a variation or amendment, to the extent therein described,
of the provisions of this Agreement or any Closing Document; and

 

    

    - 22 -

    

 

		(b)	each of the representations and warranties made in favour of the Vendors pursuant to this Agreement shall
be true, complete and correct in all material respects (except that those representations and warranties which are qualified as to material,
materiality, Material Adverse Change or similar expressions, or are subject to the same or similar type exceptions, shall be true, complete
and correct in all respects) on the Closing Date as if made on and as of
such date, and the Vendors shall have received a certificate of the Purchaser addressed to the Vendors and dated as of the Closing Date,
confirming same. The acceptance by the Vendors, in their sole discretion, of a certificate which does not correspond in all respects to
the terms of the preceding sentence shall be deemed to be a waiver of any representation or warranty contained in this Agreement to the
extent therein described.

 

		5.2.2	Non-Fulfilment. In the event that one or more of the conditions set forth in this Section 5.2
is not fulfilled on or before the Closing Date and the Vendors do not waive such condition pursuant to this Section 5.2, the Vendors
may, in their discretion and upon delivery of written confirmation thereof to the Purchaser, grant to the Purchaser a thirty
(30) day extension period to fulfill such condition. Any additional extension period may be agreed to by the Parties. However, in the
event that one or more of the conditions set forth in this Section 5.2 is not fulfilled on or before the extended date, the date
agreed upon by the Parties or, at the latest, the Outside Date and the Vendors do not waive such condition pursuant to this Section 5.2,
the Vendors may elect not to effect the Closing, and, if the Vendors so elect, this Agreement shall be terminated, in which event none
of the Vendors nor the Purchaser shall have any further obligations hereunder nor any liability, recourse or penalty against one another;
provided that, if such condition is not fulfilled as a result of a voluntary breach of any representation or warranty of the Purchaser,
or the failure at the volition of the Purchaser to perform a covenant, obligation or undertaking to be performed by such Purchaser, such
termination shall not prejudice the Vendors’ rights to pursue their legal remedies against the Purchaser with respect to such voluntary
breach or failure.

 

ARTICLE 6 

CLOSING ARRANGEMENTS

 

		6.1	Closing

 

The transactions contemplated herein
shall be completed effective as of 5:00 p.m. on the Closing Date at the Montreal offices of Fasken Martineau DuMoulin LLP, located
at 800 Square Victoria, Suite 3500, Montreal, Province of Québec or any other time or location agreed upon in writing by the
Purchaser and the Vendors.

 

		6.2	Vendors’ Closing Deliveries

 

		6.2.1	Vendors’ Deliveries. At the Closing, the Vendors shall deliver or cause to be delivered to
the Purchaser the following documents:

 

		(a)	all share certificates representing the Purchased Shares duly endorsed for transfer in favour of the Purchaser;

 

    

    - 23 -

    

 

		(b)	the certificate of a senior officer of the Vendors, acting as an officer and without personal liability,
confirming as of the Closing Date the representations, warranties and covenants
of the Vendors as set out in Sections 5.1.1(a) and 5.1.1(b) of this Agreement, in form and substance satisfactory to the Purchaser,
acting reasonably;

 

	 	(c)	evidence in form and substance satisfactory to the Purchaser that the Required Third Party Consents have
been obtained;

 

		(d)	evidence that the Parties have terminated the Master Services Agreement;

 

		(e)	at least five (5) days prior to the Closing Date, an accurate list of all the Third Party Assets
located on the Real Properties and a commitment from the Vendors, in a form agreeable to the Purchaser, that all such Third Party Assets
shall be removed by the Vendors, at their sole cost and expense, from the Real Properties within sixty (60) days after the Closing Date;

 

		(f)	the Pre-Closing Reorganization Documents, each duly executed by the parties thereto and in form and substance
satisfactory to the Purchaser;

 

		(g)	the duly executed Escrow Agreement;

 

		(h)	the duly executed POD-1 Bill of Sale;

 

		(i)	the duly executed Mutual Release;

 

		(j)	evidence that all outstanding municipal tax arrears relating to the Business have been paid in full;

 

		(k)	resignations and releases, in the form set forth in Exhibit D, from all directors or officers of
the Targets from their respective positions with the Targets;

 

		(l)	evidence in form and substance satisfactory to Purchaser that all Contracts between the Targets, on the
one hand, and any one or more of the Vendors or Representatives of any Related Party, on the other hand have been terminated, without
any penalty, obligations or other Liability imposed on the Targets;

 

		(m)	evidence in form and substance satisfactory to Purchaser, acting reasonably, that all loans, advances
and payables made or to be made by the Targets, on the one hand, to any Related Parties, together with all interest thereon, if applicable,
have been reimbursed in full (except as otherwise agreed to by the Parties);

 

		(n)	all Books and Records of the Targets and the Business (other than any minute books and other Constating
Records of the Vendors); and

 

    

    - 24 -

    

 

		(o)	all such other assurances, consents, transfer/deeds, agreements, instruments and Closing Documents as
may be reasonably required by the Purchaser to complete the transactions provided for in this Agreement, all of which shall be in form
and substance satisfactory to the Purchaser, acting reasonably.

 

		6.3	Purchaser Closing Deliveries

 

		6.3.1	Purchaser Deliveries. At the Closing, the Purchaser shall deliver or cause to be delivered to the
Vendors, or the Escrow Agent, as applicable, the following documents and payments:

 

		(a)	the payment of the Initial Consideration, as adjusted pursuant to Section 2.4.2;

 

		(b)	the certificate of a senior officer of the Purchaser, acting as an officer and without personal liability,
confirming as of the Closing Date the representations, warranties and covenants of the Purchaser as set out in Sections 5.2.1(a) and
5.2.1(b) of this Agreement, in form and substance satisfactory to the Vendors;

 

		(c)	the duly executed Escrow Agreement;

 

		(d)	the duly executed POD-1 Bill of Sale;

 

		(e)	evidence that the Parties have terminated the Master Services Agreement;

 

		(f)	the duly executed Mutual Release;

 

		(g)	the duly executed Employment Agreements; and

 

		(h)	all such other assurances, consents, agreements, instruments and Closing Documents as may be reasonably
required by the Vendors to complete the transactions provided for in this Agreement, all of which shall be in form and substance satisfactory
to the Vendors, acting reasonably.

 

    

    - 25 -

    

 

ARTICLE 7 

INDEMNIFICATION

 

		7.1	Indemnification by the Vendors

 

		7.1.1	Liability. Subject to Section 3.5.1, the Vendors shall solidarily with each other (each waiving
the benefit of division and discussion) indemnify, defend and save harmless the Purchaser and each of the Purchaser’s Representatives
from and against any and all Loss suffered or incurred by them or the Targets (each a “Purchaser Indemnified Party”), as
a result of, or arising in connection with or related in any manner whatsoever to:

 

		(a)	any inaccuracy, misrepresentation or breach of any representation or warranty made or given by the Vendors
in this Agreement and in the officer certificates delivered pursuant to Section 5.2.1(a);

 

		(b)	any failure by the Vendors to observe or perform any covenant or obligation contained in this Agreement;
or

 

		(c)	any Retained Liabilities.

 

		7.2	Indemnification by the Purchaser

 

		7.2.1	Liability. Subject to Section 3.5.2, the Purchaser shall indemnify, defend and save harmless
the Vendors and each of the Vendors’ Representatives (each a “Vendor Indemnified Party”) from and against any
and all Loss suffered or incurred by them, as a result of, or arising in connection with or related in any manner whatsoever to:

 

		(a)	any inaccuracy, misrepresentation or breach of any representation or warranty made or given by the Purchaser
in Section 3.2 of this Agreement and in the officer certificates delivered pursuant to Section 5.2.1(a);

 

		(b)	any failure by the Purchaser to observe or perform any covenant or obligation contained in this Agreement;
or

 

		(c)	any Assumed Liabilities.

 

For avoidance of doubt, and notwithstanding
any other provision in this Agreement to the contrary, the Purchaser shall not assume and shall not be responsible to assume, pay, satisfy,
discharge, perform or fulfill any Retained Liabilities. The Vendors shall assume, pay, satisfy, discharge, perform and fulfill all Retained
Liabilities.

 

		7.3	Limitations on Indemnification

 

		7.3.1	Recovery. Notwithstanding any other provision in this Agreement: (i) with respect to any Loss
which is indemnifiable, payable or for which a Party is liable under more than one provision of this Agreement, the Indemnified Party
shall have the right to make a Claim for an Indemnity Payment under the provision of its choosing, notwithstanding the fact that a limitation
of liability may apply under the provision not chosen by the Indemnified Party; and (ii) in no event shall the Indemnified Party
be entitled to recover more than once in respect of the same Loss.

 

    

    - 26 -

    

 

		7.3.2	Indirect Losses. In respect of any Direct Claim, the Indemnified Party shall not be entitled to
Claim for any indirect Loss (including loss of profit or loss of value) or punitive damages. In respect of any Third Party Claim, the
Indemnified Party shall be entitled to Claim the full amount of Loss contemplated by such Claim (including any loss of profit or loss
of value) or any punitive damages, in each case, to the extent such Losses are awarded by a Governmental Authority to the applicable third
party.

 

		7.4	Direct Claims

 

Any Direct Claim shall be asserted by
the Indemnified Party giving the Indemnifier reasonably prompt written notice thereof, but in any event not later than ninety (90) days
after the Indemnified Party becomes aware of acts, omissions or facts that may give rise to such Direct Claim. Such notice to the Indemnifier
shall describe the Direct Claim in reasonable detail and shall indicate, if reasonably practicable, the estimated amount of the Loss that
has been or may be sustained by the Indemnified Party. The Indemnifier shall then have a period of sixty (60) days to make such investigation
of the Direct Claim as it considers necessary or desirable and for the purpose of such investigation, the Indemnified Party shall make
available to the Indemnifier the information relied upon by the Indemnified Party to substantiate the Direct Claim, together with all
such other information as the Indemnifier may reasonably request. The Indemnifier shall respond in writing to such Direct Claim within
such period of sixty (60) days) (the “Response Period”). If the Indemnifier does not so respond within the Response
Period, the Indemnifier shall be deemed to have rejected such Claim, and in such event the Indemnified Party shall be free to pursue such
remedies as may be available to the Indemnified Party (including those provided for in the Escrow Agreement, if applicable). If the Indemnifier
agrees prior to the expiration of the Response Period as to the validity of the Direct Claim, the Parties shall direct the Escrow Agent
to pay to the Indemnified Party the amount of such Direct Claim forthwith upon such amount being quantified. If the Parties fail to agree
as to the validity of the Direct Claim or its amount, any Party may exercise all remedies as may be available to such Party.

 

		7.5	Notice of Third Party Claims

 

If an Indemnified Party receives notice
of the commencement or assertion of any Third Party Claim, the Indemnified Party shall give the Indemnifier reasonably prompt notice thereof,
but in any event no later than ten (10) days after receipt of such notice of such Third Party Claim. Such notice to the Indemnifier
shall describe the Third Party Claim in reasonable detail and shall indicate, if reasonably practicable, the estimated amount of the Loss
that has been or may be sustained by the Indemnified Party.

 

    

    - 27 -

    

 

		7.6	Defence of Third Party Claims

 

		7.6.1	Defence by Indemnifier. Subject to Section 7.6.2, the Indemnifier shall have the right to
participate in or, other than for a Third Party Claim for Tax, assume the defence of any Third Party Claim by giving notice to that effect
to the Indemnified Party not later than thirty (30) days after receiving notice of that Third Party Claim (the “Notice
Period”) provided the Indemnifier concurrently irrevocably acknowledges in writing complete responsibility for, and agrees to
indemnify the Indemnified Party in respect of, such Third Party Claim, subject to the provisions of Section 7.3. The Indemnifier’s
right to do so shall be subject to the rights of any insurer or other party who has potential liability in respect of that Third Party
Claim. The Indemnifier agrees to pay all of its own expenses of participating in or assuming such defence. The Indemnified Party shall
cooperate in good faith in the defence of each Third Party Claim, even if the defence has been assumed by the Indemnifier, and may participate
in such defence assisted by counsel of its own choice at the cost and expense of the Indemnified Party, provided that the Indemnifier
and its legal counsel shall lead the defence. The Indemnifier shall not enter into any compromise or settlement of any Third Party Claim
without obtaining the prior written consent of the Indemnified Party, which consent shall not be unreasonably withheld or delayed and
further provided that no such consent shall be required in the event that such compromise or settlement involves only the payment of monies
all of which are to be paid by the Escrow Agent or the Indemnifier.

 

		7.6.2	Defence by Indemnified Party. If the Indemnified Party has not received the notice and the acknowledgement,
within the Notice Period that the Indemnifier has elected to assume the defence of such Third Party Claim, the Indemnified Party may,
at its option, elect to settle or compromise the Third Party Claim or assume such defence, assisted by counsel of its own choosing and
the Indemnifier shall be liable for all reasonable costs and expenses paid or incurred in connection therewith and any Loss suffered or
incurred by the Indemnified Party with respect to such Third Party Claim, subject always to the provisions of Section 7.3. In addition,
if at any time, the Indemnifier fails to take reasonable steps necessary to defend diligently a Third Party Claim, the Indemnified Party
may, within thirty (30) days after giving notice that the Indemnified Party bona fide believes on reasonable grounds that the Indemnifier
has failed to take such steps, at its option, elect to assume the defence of and to compromise or settle the Third Party Claim assisted
by counsel of its own choosing and the Indemnifier shall be liable for all reasonable costs and expenses paid or incurred in connection
therewith.

 

		7.6.3	Seizure. The Parties shall cooperate in a good faith manner in respect of any purported, alleged
or valid Claim by a third party that could result in a seizure of the Purchased Shares or any assets of the Purchaser or of the Targets
after the Closing Date and shall keep each other informed of the status and progress thereof. If for any reason the Purchased Shares or
any assets of the Purchaser or the Targets are the subject of a seizure after the Closing Date due to an alleged, purported or valid Claim
by a third party which Claim may constitute a breach of a representation of the Vendors herein, the Purchaser shall immediately inform
the Vendors in writing of such seizure and require that the Vendors lift and cancel the seizure as soon as practicable, and in no case
later than three (3) Business Days, from the receipt of such notice. The Parties shall cooperate in good faith in the defence of
the seizure. Should the Vendors be unable to lift and cancel the seizure
within the aforesaid time period (either by paying the Claim, posting an adequate bond or obtaining a judgment), the Purchaser shall be
entitled to take such steps as it determines, in its sole discretion, are necessary to lift and cancel the seizure without prejudice to
its right to make a Direct Claim against the Vendors for any Loss suffered or incurred by it in respect of the seizure and the lifting
and cancellation of the seizure. The Purchaser shall advise the Vendors in writing of the steps it took to lift and cancel the seizure.
The Purchaser shall be entitled to assert a Claim against the Vendors by way of Direct Claim in order to recover any and all Losses incurred
in respect of the seizure and the lifting and cancellation of the seizure, the whole in accordance with Section 7.4 hereof.

 

    

    - 28 -

    

 

		7.7	Defence of Third Party Claims for Taxes

 

Notwithstanding Section 7.6,
with respect to a Claim relating to Taxes which would constitute a breach of a representation of the Vendors herein, before an
Indemnifier can either (i) require that a Target defend a contest from any Tax Authority relating to Taxes (a “Tax
Contest”), or (ii) participate in or assume the defense of any such Tax Contest, the Indemnifier shall provide such
Target with all funds that such Target is required to deposit or pay under any Law in order to contest such Tax Contest or is
required to pay notwithstanding the contest of the Tax Contest. Such funds shall first be provided from the Escrow Amount, to the
extent thereof, and thereafter from the Indemnifier’s own resources. The funds provided by the Indemnifier, which may
represent, among other amounts and without limitation, all or part of the Tax Contest, shall be provided to such Target on an
interest-free basis. If the required funds have been provided in accordance with the provisions hereof, the Indemnifier shall have
the right to elect to participate in or assume the defence of the Tax Contest and the provisions of Section 7.6.1 shall apply
thereto, mutatis mutandis. If such Target does not receive sufficient funds within a thirty (30) day period following the
sending to the Vendors of a notice of a Tax Contest to entitle it to fulfill all legal prerequisites necessary to contest a Tax
Contest, the Target shall be entitled to settle the Tax Contest and the Indemnifier shall be required to indemnify the Target
pursuant to the terms of this Agreement first from the amounts held in the Escrow Amount, to the extent thereof, and thereafter from
the Indemnifier’s own resources. To the extent that the required funds have been provided by the Indemnifier and the
contestation of the Tax Contest has resulted in a Final Determination by the competent authority or court rejecting the Tax Contest
in its entirety, the Target shall release and pay the funds received from the Indemnifier back to the Indemnifier within the five
(5) Business Days following the receipt of the funds from the third party or the application of the funds to other Tax
obligations of any Target. To the extent that the Tax Contest has been either wholly or partially upheld by the Final Determination
of the competent authority or the court, the Target shall release and pay back to the Indemnifier the amount, if any, by which the
funds provided by the Indemnifier and that are described in this Section 7.7 exceed the amount that must be paid by any Target,
pursuant to the Final Determination of the Tax Contest within the five (5) Business Days following the receipt of the funds
from the third party or the application of the funds to other Tax obligations of any Target. If the amount of funds that is
reimbursed pursuant to the Final Determination of the Tax Contest includes an amount of interest, the Target shall pay to the
Indemnifier within the five (5) Business Days following the receipt of the funds from the third party or the application
of the funds to other Tax obligations of any Target an amount equal to the interest received on the funds that were paid or
deposited, less an amount equal to the amount, as determined by the Target, that any Target shall pay to any Governmental Authority
as Taxes on the interest.

 

    

    - 29 -

    

 

		7.8	Assistance for Third Party Claims

 

The Indemnifier and the Indemnified
Party shall use all reasonable efforts to make available to the Party which is undertaking and controlling the defence of any Third Party
Claim (the “Defending Party”):

 

		7.8.1	those employees whose assistance, testimony or presence is necessary to assist the Defending Party in
evaluating and in defending any Third Party Claim; and

 

		7.8.2	all documents, records and other materials in the possession of such Party reasonably required by the
Defending Party for its use in defending any Third Party Claim.

 

Each of them shall otherwise cooperate
with the Defending Party. The Indemnifier shall be responsible for all expenses associated with making such documents, records and materials
available and for all reasonable out-of-pocket expenses of any employees made available by the Indemnified Party to the Indemnifier hereunder.

 

		7.9	Right to Claim from Escrow

 

The Parties expressly agree that the
Purchaser may claim all amounts to which it may be entitled under Section 7.1 against the Escrow Amount. If the funds available in
the Escrow Amount are insufficient to fully pay the Indemnity Payment, then the Vendors must fully pay any missing portion of the Indemnity
Payment to the Purchaser.

 

		7.10	Failure to Give Timely Notice

 

A failure to give timely notice as provided
in this Article 7 shall not affect the rights or obligations of any Party except and only to the extent that, as a result of such
failure, any Party which was entitled to receive such notice was deprived of its right to recover any payment under its applicable insurance
coverage or otherwise sustained a Loss as a result of such failure or was prejudiced in its ability to assert any rights or defences.

 

		7.11	Payment and Interest

 

All Losses shall bear interest at a
rate per annum equal to the Prime Rate, calculated and payable monthly, both before and after judgement, from the date on which notice
of Claim was given to the Indemnifier, to the date of payment by the Indemnifier to the Indemnified Party. Any Indemnity Payment made
pursuant to this Agreement shall be grossed up by the amount of any applicable withholding Taxes, except to the extent a Tax credit in
respect of such withheld amount is available to the Indemnified Party.

 

    

    - 30 -

    

 

		7.12	Purchase Price Adjustment

 

Any Indemnity Payment made under this
Article 7 shall be treated by the Purchaser and the Vendors as an adjustment to the Purchase Price. Such adjustment shall be allocated
to the Purchased Shares.

 

ARTICLE 8 

TERMINATION

 

		8.1	Termination

 

		8.1.1	Mutual Termination. This Agreement may, at any time before Closing be terminated by the mutual
written agreement of the Parties.

 

		8.1.2	Termination by the Purchaser. The Purchaser, when not in default in any material respect in the
performance of its obligations under this Agreement, may, without prejudice to any other rights, terminate this Agreement by written notice
to the Vendors if any condition contained in Section 5.1 is not fulfilled, waived or satisfied in accordance with Section 5.1.2;

 

		8.1.3	Termination by the Vendors. The Vendors, when the Vendors are not in default in any material respect
in the performance of their obligations under this Agreement, may, without prejudice to any other rights, terminate this Agreement by
written notice to the Purchaser if any condition contained in Section 5.2 is not fulfilled, waived or satisfied in accordance with
Section 5.2.2.

 

		8.1.4	Effect of Termination. In the case of any termination of this Agreement pursuant to this Article 8
or Sections 5.1.2 or 5.2.2, this Agreement shall be of no further force and effect except for Sections 9.3, 9.4, 9.6, 9.8 and 9.9, which
shall continue in full force and effect. No termination of this Agreement shall relieve any Party from liability for any breach of this
Agreement.

 

ARTICLE 9 

GENERAL

 

		9.1	Further Assurances

 

		9.1.1	Each of the Parties hereto shall from time to time execute and deliver all such further documents and
instruments and do all acts and things as another Party may, either before or after the Closing Date, reasonably require to effectively
carry out or better evidence or perfect the full intent and meaning of this Agreement.

 

		9.1.2	The Parties shall cooperate in order to effect a prompt and orderly transition of the Business from the
Vendors to the Purchaser following the Closing. Accordingly, the Parties agree that, following the Closing, the Purchaser and its employees
and representatives will have access to the information systems and facilities of the Vendors as may be required in connection
with such transition.

 

    

    - 31 -

    

 

		9.1.3	In connection with the transition matters contemplated by Section 9.1.2, the Vendors shall, as required
and requested by Purchaser, act as agent of the Purchaser for the purposes of, without limitation, transitioning bank accounts and business
credit cards, administering payroll, benefits and insurance, conducting invoicing, receipt of receivables on Purchaser`s behalf, collecting
sales taxes, paying Accounts Payable and collecting Accounts Receivable.

 

		9.2	No Waiver

 

Failure of a Party to insist upon the
strict performance of any term or condition of this Agreement or to exercise any right, remedy or recourse hereunder shall not be construed
as a waiver or relinquishment of any such term and condition.

 

		9.3	Cost and Expenses

 

Except as expressly set forth herein,
each of the Parties shall be responsible for and pay their respective legal, financial advisory and accounting costs and expenses incurred
in connection with the consummation of the transactions provided herein, including the preparation, execution and delivery of this Agreement
and the Closing Documents, and any other costs and expenses whatsoever and howsoever incurred in connection herewith and/or therewith.
For greater certainty, the Vendors shall assume all costs and expenses incurred by the Targets in connection with this Agreement and the
consummation of the transactions provided herein.

 

		9.4	Public Announcements

 

No Party shall issue any press release
or otherwise make public statements or filings with respect to this Agreement or the Closing Documents, or the transactions contemplated
herein or therein, without the consent of the other Parties, which consent shall not be unreasonably withheld or delayed. Notwithstanding
the foregoing, the Purchaser and its Affiliates shall be permitted to issue any such press release or public statement to comply with
applicable Laws, including any disclosure requirements applicable to public issuers listed on any recognized stock exchange.

 

		9.5	Successors, Assigns and Assignments

 

This Agreement will enure to the benefit
of and be binding upon the respective successors and permitted assigns of the Parties. This Agreement may not be assigned by any Party
without the prior written consent of the other Parties, and (ii) that the Purchaser may, without the prior written consent of the
other Parties, assign all or part of its rights and/or obligations under this Agreement to one or more Affiliates of the Purchaser.

 

    

    - 32 -

    

 

		9.6	Entire Agreement

 

This Agreement and the Closing Documents
constitute the entire agreement between the Parties with respect to the subject matters hereof and thereof and cancels and supersedes
any prior understandings and agreements between the Parties with respect thereto, including the Letter of Intent. There are no representations,
warranties, terms, conditions, undertakings or collateral agreements, express, implied or statutory, between the Parties other than as
expressly set forth in this Agreement.

 

		9.7	Amendments and Waivers

 

No amendment to this Agreement shall
be valid or binding unless set forth in writing and duly executed by all Parties. No waiver of any breach of any provision of this Agreement
shall be effective or binding unless made in writing and signed by the Party purporting to give the same and, unless otherwise provided,
will be limited to the specific breach waived.

 

		9.8	Notices

 

Any demand, notice or other communication
to be given in connection with this Agreement shall be given in writing and will be given by personal delivery, by courier services, by
registered mail or by facsimile or e-mail as set forth below, and if another address, facsimile number or e-mail address has been designated
by notice by any recipient Party to the other, to such other address, facsimile number or e-mail address.

 

Notice to the Purchaser:

 

Argo Innovation Labs Inc.

700-401 W.
Georgia St.,

Vancouver, British Columbia, V6B 5A1

 

		Attention:	Ian MacLeod, Executive Chairman

		E-mail:	imacleod@argoblockchain.com

 

Notice to Vendors:

 

GPU.ONE Holding Inc.

3680 avenue du Musée,

Montreal,
Quebec, H3G 2C9

 

		Attention:	Vladimir Plessovskikh

		E-mail:	vlad@gpu.one

 

Any
demand, notice or other communication given by personal delivery or courier services shall be conclusively deemed to have been given
on the day of actual delivery thereof and, if given by registered mail, on the third (3rd)
Business Day following the deposit thereof in the mail and, if given by facsimile or e-mail, on the day of transmittal thereof if
given during the normal business hours of the recipient on a Business Day and on the next Business Day if not given during such
hours. If the Party giving any demand, notice or other communication knows or ought reasonably to know of any difficulties with the
postal system that might affect the delivery of mail, any such demand, notice or other communication may not be mailed but must be
given by personal delivery or by electronic communication.

 

    

    - 33 -

    

 

		9.9	Governing Law and Forum

 

This Agreement shall be governed by
and construed in accordance with the Laws of the Province of Québec and the Laws of Canada applicable therein (excluding any conflict
of laws rule or principle, foreign or domestic, which might refer such interpretation to the laws of another jurisdiction). The Parties
hereby irrevocably and unconditionally submit to the exclusive jurisdiction of the courts of the Province of Québec and elect domicile
in the City of Montreal with respect to any matter relating to the execution or construction of this Agreement or the exercise of any
right or the enforcement of any obligation arising hereunder (excluding any conflict of forum rule or principle, foreign or domestic,
which might refer such matter to the courts of another jurisdiction). Notwithstanding the foregoing, nothing contained in this Section 9.9
shall limit: (i) the right of any Party to seek provisional or protective relief in the courts of another country prior to, during
or after any substantive proceedings have been instituted in Canada pursuant this Agreement; or (ii) the right of the Parties to
bring enforcement proceedings in another jurisdiction in connection with a Canadian judgment.

 

		9.10	Severability

 

If any provision of this Agreement is
determined by a court of competent jurisdiction to be invalid, illegal or unenforceable in any respect, such determination shall not impair
or affect the validity, legality or enforceability of the remaining provisions hereof, and each provision is hereby declared to be separate,
severable and distinct.

 

		9.11	Specific Performance and other Discretionary Rights

 

Each of the Parties recognizes, acknowledges
and agrees that a breach by a Party of any obligation in this Agreement shall cause the other Party to sustain injury for which it would
not have an adequate remedy at Law for money damages. Therefore, each of the Parties agrees that in the event of any such breach, the
aggrieved Party shall be entitled to specific performance of such obligation and provisional interlocutory and permanent injunctive relief
and other discretionary remedies in addition to any other remedy to which it may be entitled and the Parties further agree to waive any
requirement for the securing or posting of any bond in connection with the obtaining of any such injunctive relief or other equitable
remedies.

 

		9.12	Counterparts

 

This Agreement may be executed in one
or more counterparts, each of which shall conclusively be deemed to be an original but all of which taken together shall be deemed to
constitute one and the same agreement. A facsimile or electronic transmission of the Agreement bearing a signature on behalf of a Party
shall be legal and binding on such Party.

 

    

    - 34 -

    

 

		9.13	Language

 

The Parties acknowledge that they have
required that this Agreement and all related documents be drawn up in English. Les parties reconnaissent avoir exigé que la
présente convention et tous les documents connexes soient rédigés en anglais.

 

(remainder of this page left blank intentionally)

 

     

     

    

 

IN WITNESS WHEREOF the Parties have executed this Agreement
on the date first written hereinabove.

 

	ARGO INNOVATION LABS INC.	 	 	 
	 	 	 	 
	By: 	/s/ Peter Wall	 	 	 
	Name: 	Peter Wall	 	 	 
	Title: 	CEO	 	 	 

 

 

	GPU.ONE HOLDING INC.	 	GPU.ONE ENTERPRISE INC.
	 	 	 
	By:	/s/ Vladimir Plessovskikh	 	By:	/s/ Vladimir Plessovskikh
	Name:	Vladimir Plessovskikh	 	Name:	Vladimir Plessovskikh
	Title:	President	 	Title:	President

 

 

AND TO WHICH INTERVENE:

 

 

	9366-5230 QUÉBEC INC.	 	9377-2556 QUÉBEC INC.
	 	 	 
	By:	/s/ Vladimir Plessovskikh  	 	By:	/s/ Vladimir Plessovskikh  
	Name:	Vladimir Plessovskikh	 	Name:	Vladimir Plessovskikh
	Title:	President	 	Title:	President

 

(Signature page to the Share Purchase Agreement)

 

     

     

    

 

EXHIBIT A 

DEFINITIONS

 

		1.1	“Accounts Payable” means the trade accounts payable of the Business incurred on or
before the Closing Date (including those for which invoices are received after the Closing Date) payable by the Targets that remain unpaid
on the Closing Date but relate to products purchased or services performed prior to the Closing Date;

 

		1.2	“Accounts Receivable” means all accounts receivable, trade accounts, notes receivable,
book debts and other debts (other than cash on hand and deposit accounts held with banks and other financial institutions) of the Business
due, accruing and payable to the Targets which arise from services performed and sales made by the Targets in the Ordinary Course on or
before the Closing Date;

 

		1.3	“ADM Deposit” means the deposit in the amount of $93,863.42 paid by the Vendors to
Aéroports de Montréal in connection with the Leased Real Property leased by MirabelCo;

 

		1.4	“Affiliate” has the meaning ascribed thereto in the CBCA;

 

		1.5	“Agreement” means this agreement, its recital, together with its Schedules and Exhibits
and all amendments made hereto by written agreement between the Parties;

 

		1.6	“ASPE” means the Accounting Standards for Private Enterprises in effect as of a given
date.

 

		1.7	“Assessment” has the meaning ascribed thereto in Section 3.1.32(j);

 

		1.8	“Assumed Liabilities” means, except to the extent any such Liabilities are Retained
Liabilities:

 

		(a)	all current Liabilities set forth in the Closing Date Financial Statements relating to the Business that
are due or accruing due after the Closing, including all Liabilities of Targets in respect of the Letters of Credit;

 

		(b)	all Liabilities of the Vendors in respect of the Transferred Employees to the extent that such Liabilities
are based on facts, circumstances or events that arise after the Closing on the Closing Date; and

 

		(c)	all Liabilities of the Targets in respect of the Desjardins Loans as they relate to the Business, up to
an aggregate amount equal to the Desjardins Loan Amount.

 

		1.9	“Baie-ComeauCo” has the meaning ascribed thereto in the preamble;

 

    

    - 2 -

    

 

		1.10	“Books and Records” means, except for the minute books and other Constating Records
of the Vendors, any books, records and accounts of the Targets (originals, to the extent they exist, or, if originals do not exist, copies
thereof) related to the Business, the Purchased Shares and the Employees of the Targets including, without limitation, databases, documents,
forms, advertising material, brochures, books and records relating to the purchase of materials and supplies, the services performed or
provided, dealings with customers, invoices, customer lists, mailing lists, suppliers lists, telephone numbers, financial records, personnel
records (to the extent permitted by Law) and Taxes;

 

		1.11	“Breaching Party” has the meaning ascribed thereto in Section 4.4.2;

 

		1.12	“Business” has the meaning ascribed thereto in the preamble hereof;

 

		1.13	“Business Day” means any day on which commercial deposit-taking banks are generally
open for business in Montreal (Québec), other than a Saturday, a Sunday or a day observed as a non-juridical day in either such
location under applicable Laws in Québec;

 

		1.14	“Capital Lease” means any lease of any property (whether real, personal, moveable,
immoveable or mixed) by the Targets as lessee that, in accordance with ASPE, either would be required to be classified and accounted for
as a capital lease on a balance sheet of such Person or would otherwise be disclosed as such in a note to the financial statements sheet,
a complete and accurate list of each such lease appearing in Section 1.14 of the Disclosure Letter;

 

		1.15	“CBCA” means the Canada Business Corporations Act, as now in effect and as may
be amended from time to time prior to the Closing Date;

 

		1.16	“Claims” includes claims, notices, demands, requests, complaints, proceedings (including
any eminent domain taking, expropriation, condemnation or similar proceedings), actions, arbitrations, suits, causes of action, appeals,
audits, hearings, investigations, inquiries, assessments or reassessments (including claims, assessments and reassessments for Tax), charges,
judgments, grievances or hearings;

 

		1.17	“Closing” means the completion on the Closing Date of the sale to, and purchase by,
the Purchaser of the Purchased Shares and the completion of all other transactions contemplated by this Agreement which are to occur concurrently
with the purchase and sale of the Purchased Shares;

 

		1.18	“Closing Calculations” has the meaning ascribed thereto in Section 2.5.1;

 

		1.19	“Closing Date” means, unless another date is agreed to in writing by the Purchaser
and the Vendors, the fifth Business Day following the satisfaction or waiver of the conditions set forth in Sections 6.2 and 6.3 (excluding
conditions that, by their terms, cannot be satisfied until the Closing Date, but subject to the satisfaction or waiver of those conditions
on the Closing Date), provided that if such fifth Business Day does not fall
on the last day of a calendar month, the Closing Date shall be the last day of the following calendar month, and provided further that
the Closing Date shall be no later than the Outside Date;

 

    

    - 3 -

    

 

		1.20	“Closing Date Financial Statements” means the unaudited, unconsolidated financial statements
of the Targets for the period ending on the Closing Date;

 

		1.21	“Closing Document” means any agreement, assignment, undertaking, resolution, share
certificate, certificate or any other document delivered in relation to the Closing, including without limitation the Escrow Agreement,
the Pre-Closing Reorganization Documents, and the Mutual Release;

 

		1.22	“Closing Indebtedness” means the Liabilities of each of the Targets at the Closing
but disregarding any unamortized transaction cost or other similar account which reduces the value of the long term debt on the balance
sheet;

 

		1.23	“Closing Working Capital” means the Working Capital of each of the Targets at Closing
based on the Closing Date Financial Statements;

 

		1.24	“Collective Agreement” means any collective agreement, letters of understanding, letters
of intent or other written agreement with any trade union or association which may qualify as a trade union, which would cover any Employee;

 

		1.25	“Competing Transaction” has the meaning ascribed thereto in Section 4.3;

 

		1.26	“Competition Act” means the Competition Act (Canada), as amended from time to
time;

 

		1.27	“Constating Records”
means, in respect of any entity, the corporate and constating records of such entity, including (a) all articles, constituting and
organizational documents and by-laws (including any partnership agreement, deed of trust or other); (b) all shareholders agreements
affecting such entity, (c) all
minutes of meetings and resolutions of shareholders and directors (and any committees); and (d) the share certificate books, securities
register, register of transfers and register of directors;

 

		1.28	“Contract” means any and all written or verbal contracts and agreements (including
quotations, orders and rebates), work in progress, Derivative Contracts, leases (including Capital Leases and Real Property Leases), insurance
policies, deeds, indentures, instruments, entitlements, warranties and warranty rights, commitments, indemnities, guarantees, undertakings
and orders made by or to which any Target is a party or by which Target is bound or under which any Target has, or will have, any rights
or obligations and includes rights to use, franchises, license and sub-licences agreements and agreements for the purchase and sale of
assets or shares;

 

		1.29	“Defending Party” has the meaning ascribed thereto in Section 7.8;

 

    

    - 4 -

    

 

		1.30	“Derivative Contracts” means all Contracts involving foreign exchange, forward contracts,
swaps, risk management contracts or any other form of derivative instruments used by or binding any Target, a complete and accurate list
of which is set forth in Section 1.30 of the Disclosure Letter;

 

		1.31	“Desjardins Loan Amount” means an aggregate amount of $8,634,853.88;

 

		1.32	“Desjardins Loans” means, collectively, (i) the Loan Agreement entered into between
MirabelCo and Caisse Desjardins de Sainte-Foy, undated; (ii) the Loan Agreement entered into between Baie-ComeauCo and Caisse
Desjardins de Sainte-Foy dated November 16, 2018; (iii) the Guarantee Agreement entered into between Baie-ComeauCo and Investissement
Québec dated December 7, 2018; and (iv) any other ancillary agreement required to be entered into by the Targets
as part of the security granted in connection with the Desjardins Loans.

 

		1.33	“Direct Claim” means any Claim by an Indemnified Party against an Indemnifier which
does not result from a Third Party Claim;

 

		1.34	“Disclosure Letter” means the letter of disclosure dated the date hereof and delivered
to Purchaser by the Vendors and the Targets;

 

		1.35	“Employees” means all of the employees of the Targets, a complete and accurate list
of which is set forth in Section 3.1.32 of the Disclosure Letter, and, for greater certainty, includes (a) employees employed
on an hourly or salaried basis, (b) part-time employees, and (c) employees receiving short-term or long-term disability benefits
or payments or workmen's compensation and employees on sick leave, maternity leave or leave of absence, in each case who have a reasonable
expectation to return to work;

 

		1.36	“Employee Plans” means each and every retirement, pension, supplemental pension, savings,
retirement savings, bonus, profit sharing, deferred compensation, severance or termination pay (including any redundancy policy), change
of control, life insurance, medical, hospital, dental care, vision care, drug, sick leave, short term or long term disability, salary
continuation, unemployment benefits, vacation, incentive, compensation, stock purchase, stock option, phantom stock, share appreciation
rights, fringe benefit or other employee benefit plan, program, arrangement, policy or practice whether written or oral, formal or informal,
funded or unfunded, registered or unregistered, bargained or unbargained, insured or self-insured that is maintained or otherwise funded
or contributed to, or required to be funded or contributed to, by or on behalf of the Targets, or under which any Target pays premiums
or benefits, for the benefit of the Employees or any of them or the beneficiary of any of them or for the benefit of any consultant or
other independent contractor who currently provides or formerly provided services to them or the beneficiary of any such consultant or
other independent contractor;

 

    

    - 5 -

    

 

		1.37	“Employment Agreements” means the employment agreements between the Targets or the
Purchaser, as the case may be, and each Transferred Employee to be entered into on the Closing Date, on substantially the same terms and
conditions as the employment agreements between each Transferred Employee and the Vendors;

 

		1.38	“Encumbrances” means pledges, liens (statutory or otherwise), charges, security interests,
leases, offers to lease, privileges, license agreements, title retention agreements, mortgages, hypothecs, trust deeds, trust or deemed
trust (whether contractual, statutory or otherwise arising), assignments by way of security, security interests, conditional sales contracts
or other title retention agreements, or other similar interests or instruments charging, or creating a security interest in, or against
title, restrictions, development or similar agreements, easements, servitudes, rights-of-way (registered or unregistered), restrictive
covenants, contamination notice, title defects, restrictions, executions, tax arrears, permissions, options or adverse claims, encroachments
or burden or any other right or claim or encumbrances of any kind or character whatsoever or however arising, or any agreement to enter
into or create any of the foregoing, on or affecting all or any part of any of the assets of a Person or any of its Subsidiaries or any
interest therein, or any direct or indirect interest in such Person or any of its Subsidiaries, including any conditional sale or other
title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing, the filing of any
financing statement, encumbrances of mechanics, labourers, workmen, builders, contractors, suppliers of material or architects or other
similar encumbrances incidental to construction, maintenance or repair operations and other similar liens, legal hypothecs and encumbrances;

 

		1.39	“Environment” means the environment as defined pursuant to the Environment Quality
Act (Québec) and as defined in all other Laws related to the environment, and includes air (and all layers of the atmosphere),
surface water, underground water, land surface, soil, underground spaces, cavities, land submerged under water, subsurface strata, stream
sediments, ambient air (including indoor air), plant and animal life, organic and inorganic matter and other living organisms, and the
environment in the workplace; for greater certainty, the interacting natural systems that include components referred to above or any
combination or part thereof are included in the definition of “Environment”; and “Environmental” shall have the
correlative meaning;

 

		1.40	“Environmental Authorizations” means certificates of authorization, authorizations,
permits, consents, agreements (including any sewer surcharge agreement), plans (including any stormwater pollution prevention plan or
spill prevention and counter-measures control plan), instructions, directions, or registrations issued, granted, conferred or required
by a Governmental Authority pursuant to any Environmental Law;

 

    

    - 6 -

    

 

		1.41	“Environmental Laws” means all applicable Laws relating in any way to the protection
of the Environment, pollution, and the protection of human health, including such Laws relating to the withdrawal, contamination and use
of groundwater and surface water, to management, excavation and soil contamination, the delivery of Environmental Authorizations or to
inspections and surveys, remedial actions and rehabilitation in connection with any presence, emission, discharge, emission, generation,
holding, handling, labelling, abatement, management, control, monitoring, existence, escape or disposal or threat of same of any Hazardous
Material, or relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of any Hazardous
Material, or to the release, threatened release or arranging for the transportation of any Hazardous Material;

 

		1.42	“Escrow Agent” means AST Trust Company (Canada) or such other escrow agent as determined
upon mutual agreement by the Parties;

 

		1.43	“Escrow Agreement” means the escrow agreement between the Parties and the Escrow Agent
to be executed on or prior to the Closing, in the form attached hereto as Exhibit B;

 

		1.44	“Escrow Amount” has the meaning ascribed thereto in Section 2.3.4;

 

		1.45	“Estimated Closing Indebtedness” has the meaning ascribed thereto in Section 2.4.1(a);

 

		1.46	“Estimated Closing Working Capital” has the meaning ascribed thereto to Section 2.4.1(b);

 

		1.47	“Final Determination” means: (i) with respect to a Direct Claim, an Order or any
settlement with respect to such Direct Claim; and (ii) with respect to a Third Party Claim, an Order or any settlement with respect
to such Third Party Claim, as between the Purchaser and the Vendors;

 

		1.48	“Financial Statements” means the Year End Financial Statements and the Interim Financial
Statements, copies of which are attached as Section 3.1.18 of the Disclosure Letter;

 

		1.49	“Fixed Assets” means the fixed assets and tangible moveable or personal property, machinery,
equipment, computers, networking equipment, fixtures, furniture, furnishings, vehicles, material handling equipment, implements, parts,
tools, machine tools, jigs, dies, molds, patterns and tooling, spare parts furniture, supplies, photocopiers and office equipment owned,
held or used by the Targets in connection with the Business, wherever located;

 

    

    - 7 -

    

 

		1.50	“Governmental Authority” means any (a) multinational, federal, provincial, state,
regional, municipal, local, governmental or public department, ministry, central bank, court, tribunal, arbitral body, commission, agency
board or bureau, domestic or foreign, (b) subdivision, agent, commission, board or authority of any of the foregoing,
(c) quasi-governmental or private body exercising any regulatory, administrative, expropriation or Tax Authority under or for the
account of any of the foregoing, including any private body having received a mandate to perform public services, and (d) judiciary
or quasi-judiciary tribunal, court or body;

 

		1.51	“GPU Enterprise” has the meaning ascribed thereto in the preamble;

 

		1.52	“GPU Holding” has the meaning ascribed thereto in the preamble;

 

		1.53	“GST” means Taxes imposed under Part IX of the Excise Tax Act (Canada)
and the regulations made thereunder;

 

		1.54	“Hazardous Material” means any material, including an odour, a sound or a vibration,
that is listed, defined, designated or classified as, or otherwise determined to be, hazardous, radioactive explosive, gaseous, flammable,
toxic, corrosive, oxidizing or leachable or a pollutant, a substance or a contaminant established under applicable Environmental Laws,
including any mixture thereof;

 

		1.55	“Hydro-Québec Deposit” means the deposit in the amount of $75,000 paid by MirabelCo
to Hydro-Québec for the provision of electricity services to the data center owned by MirabelCo;

 

		1.56	“Indemnifier” means any party obligated to provide indemnification under this Agreement;

 

		1.57	“Indemnified Party” means any Person entitled to indemnification under this Agreement;

 

		1.58	“Indemnity Payment” means any amount of Loss required to be paid pursuant to Section 7.1
or 7.2 hereof;

 

		1.59	“Independent Firm” has the meaning ascribed thereto in Section 2.5.2(c);

 

		1.60	“Initial Consideration” has the meaning ascribed thereto in Section 2.3.1;

 

    

    - 8 -

    

 

		1.61	“Intellectual Property” means any or all intellectual property rights, whether
                                                                registered or not, including those rights arising out of or related to: (i) all domestic and foreign patents and applications
                                                                therefore and all re-examinations, reissues, divisions, renewals, extensions, provisionals, continuations and continuations-in-part
                                                                thereof; (ii) all trade-marks, trade names, service marks, service names, certification marks, brands, logos, trade dresses,
                                                                domain names and social media identifiers, together with the goodwill associated therewith; (iii) all copyrights, data rights,
                                                                integrated circuit topographies and protected plant varieties; (iv) all industrial designs, CAD designs and works protected by
                                                                copyright including computer software, documentation, designs, schematics, specifications or records; (v) all inventions
                                                                (whether or not patentable); and (vi) all
proprietary and confidential business and technical information including technical data, trade secrets, ideas, formulae, algorithms,
methods, techniques, processes, research and development and technology know-how, databases, data compilations and collections and technical
data; including, in the case of each of clauses (i) through (v), inclusively, whether such rights are registered or not and, in the
case of each of clauses (i) through (vi), exclusively, any and all registrations, applications, recordings, common-law rights and
Contracts, all rights of privacy or moral rights, however denominated, throughout the world and in all media now known, and all rights
to sue at law or in equity for any past infringement or other impairment of any and all of the foregoing, including the right to receive
all proceeds and damages therefrom, where applicable at Law;

 

		1.62	“Interim Financial Statements” means the unaudited, quarterly financial statements
of the Targets for periods beginning after December 31, 2019;

 

		1.63	“Key Intellectual Property of the Targets” has the meaning attributed to this term
in Section 3.1.36;

 

		1.64	“knowledge” of any Person means the actual knowledge of such Person or any of its
                                                                officers or managers (and more specifically in the case of the Vendors, the actual knowledge of Vladimir Plessovskikh and Gabriel
                                                                Ibghy acting as directors, officers or employees of the Vendors, as applicable, and in each case without personal liability) after
                                                                due and diligent inquiry with respect to the relevant matter, or the knowledge that any of them would have had if they had conducted
                                                                such due and diligent inquiry with respect to the relevant matter. The due and diligent inquiry of any Person with respect to a
                                                                matter includes (i) consulting
Persons who in the normal scope of their duties ought to reasonably be expected to have knowledge of the matter with respect to which
knowledge is asserted, and (ii) taking such other action, if reasonably necessary, to discover the facts with respect to which knowledge
is asserted;

 

		1.65	“Laws” means all laws (including the common law), statutes, codes, ordinances, decrees,
rules, regulations, by-laws, statutory rules, principles of law, published policies and guidelines, judicial or arbitral or administrative
or ministerial or departmental or regulatory judgments, orders, decisions, rulings or awards and terms and conditions of any grant of
approval, permission, authority or Permit of any Governmental Authority, self-regulatory authority or statutory body and the term “applicable”
with respect to such Laws and in the context that refers to one or more Persons, means that such Laws apply to such Person or Persons
or its or their business, undertaking, property or securities and emanate from a Person having or claiming to exercise legal jurisdiction
over the Person or Persons or its or their business, undertaking, property or securities;

 

		1.66	“Leased Real Properties” means the immovable property, lands, buildings and premises
used in connection with the Business which are leased, subleased or with respect to which a right to use or occupy has been
granted to any Target, a complete list of which is attached as Section 3.1.35 of the Disclosure Letter;

 

    

    - 9 -

    

 

		1.67	“Letter of Intent” means the letter of intent of Argo Blockchain PLC dated October 6,
2020 with respect to the transactions contemplated hereby and accepted by the Vendors and the Targets;

 

		1.68	“Letters of Credit” means the letter of credit issued on December 3, 2020 by Caisse
Desjardins de Sainte-Foy, and guaranteed by Export Development Canada, in favour of the City of Baie-Comeau in the amount of CAD$916,935.00,
as required pursuant to the terms of the Convention visant à établir certaines conditions relativement aux services d’électricité
entered into among the City of Baie-Comeau and BaieComeauCo on April 10, 2018, as amended from time to time;

 

		1.69	“Liability” means, other than those liabilities comprising a component of Working Capital,
any liability, debt or other obligation, whether direct or indirect, absolute, accrued or unaccrued, asserted or unasserted, fixed or
contingent, liquidated or unliquidated, mature or inchoate, due or to become due, known or unknown, or otherwise, including the following:

 

		(a)	all indebtedness, obligations and liabilities of whatsoever nature and kind of any Target for borrowed
money or for the deferred purchase price of property or services (including reimbursement and all other obligations with respect to surety
bonds, letters of credit, note purchase obligations and bankers’ acceptances, whether or not matured) and including any short term
portion of long term indebtedness and any shareholders’ loans or advances;

 

		(b)	all indebtedness of any Target created or arising under any conditional sale, other title retention agreements
with respect to acquired property or pursuant to deferred purchase price obligations;

 

		(c)	all obligations of any Target as lessee under a Capital Lease that, in accordance with ASPE, would appear
on a balance sheet of such lessee in respect of such Capital Lease or otherwise be disclosed as such in a note to such balance sheet;
and obligations under sale leasebacks of any Target;

 

		(d)	all indebtedness, obligations and liabilities of whatsoever nature and kind of any Target resulting from
any subsidy agreement, contribution agreement or similar agreement between any Target and any Governmental Authority;

 

		(e)	all obligations guaranteeing or providing indemnification or insurance with respect to any indebtedness
or other obligation of any Person (other than an obligation by a Target to guarantee or provide indemnification for the obligations of
the other Target);

 

    

    - 10 -

    

 

		(f)	all accrued interests relating to any indebtedness of the type referred to in any of the items of this
definition;

 

		(g)	any amounts payable by the Vendors to a Tax Authority in respect of Taxes owing by the Vendors and sales
Taxes required to be collected by the Vendors and remitted to a Tax Authority; and

 

		(h)	all prepayment penalties or break-up fees of any nature relating to any indebtedness of the type referred
to in any of the items of this definition which is being repaid on or immediately after Closing.

 

		1.70	“Loss” means any and all loss, liability, debt, Tax, damage, cost, expense, charge,
fine, penalty or assessment paid by the Indemnified Party, including the costs and expenses incurred in investigating, pursuing or settling
a Claim and all interest and reasonable fees and expenses of attorneys and experts incurred in connection therewith (excluding, except
in each case to the extent awarded by a Governmental Authority in respect of a Third Party Claim to the applicable third party, or in
the case of fraud or intentional or gross fault, loss of profits, loss of value, indirect costs and expenses, punitive, consequential,
incidental or exemplary damages, fines, penalties);

 

		1.71	“Master Services Agreement” means that certain master services agreement among Argo
Blockchain PLC, the Purchaser and the Vendors dated August 8, 2018, as amended from time to time;

 

		1.72	“Material Adverse Change” means any change, effect, event or occurrence that, individually
or in the aggregate with all other changes, effects, events or occurrences: (i) is or is reasonably likely to have a material and
adverse effect upon any of the Business, operations, affairs, assets, liabilities, capitalization, results of operations, cash flows,
condition, prospects, Permits, rights or privileges of any Target, or (ii) could reasonably be expected to materially impair or delay
the ability of any of the Vendors or any Target to perform its obligations under this Agreement;

 

		1.73	“Material Contract” means any:

 

		(a)	Contract involving aggregate payments in any year to or by any Target of an amount or value in excess
of $5,000 (other than those disclosed at (b) below);

 

		(b)	existing order of an amount or value in excess of $5,000;

 

		(c)	Contract between any Target and any Related Party;

 

		(d)	Contract not entered into in the Ordinary Course and that involves expenditures or receipts of any Target
in excess of $5,000;

 

    

    -11-

    

 

		(e)	lease, rental or occupancy agreement (including each Real Property Lease), license (other than a license
agreement for commercially available software sold through retailers), instalment and conditional sale agreement, and other Contract affecting
the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal
property leases and instalment and conditional sales agreements having a value per item or aggregate payments of less than $5,000);

 

		(f)	Contract with respect to Intellectual Property or which is a Derivative Contract (other than a license
agreement for commercially available software sold through retailers);

 

		(g)	Contract containing covenants that in any way restrict or purport to restrict the business activity of
any Target to engage in any business or to compete with any Person;

 

		(h)	power of attorney of any Target that is currently effective and outstanding;

 

		(i)	warranty, guarantee, support, bond, indemnification, assumption or other similar commitment with respect
to the obligations, liabilities (whether accrued, absolute, contingent or otherwise) or indebtedness of any Person other than in the Ordinary
Course;

 

		(j)	Contract which concerns any joint venture, partnership or other Contract (however named) involving a sharing
of profits, losses, costs, or liabilities by any Target;

 

		(k)	Contract relating to or creating any trust indenture, mortgage, hypothec, promissory note, bond, loan
agreement or other contract for the borrowing of money or otherwise evidencing any Liability of any Target;

 

		(l)	Contract relating to any individual capital expenditure to be incurred after the date of this Agreement
in excess of $5,000;

 

		(m)	Contract containing liquidated damages or penalty entered into in the Ordinary Course; or

 

		(n)	amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing.

 

		1.74	“MirabelCo” has the meaning ascribed thereto in the preamble;

 

		1.75	“Mutual Release” means the release by the Parties to be executed on or prior to the
Closing, in the form attached hereto as Exhibit C.

 

     

    - 12 - 

    

 

		1.76	“Negative Adjustment Amount” has the meaning ascribed thereto in Section 2.6.2;

 

		1.77	“Notice Period” has the meaning ascribed thereto in Section 7.6 hereof;

 

		1.78	“Objection Notice” has the meaning ascribed thereto in Section 2.5.2(b);

 

		1.79	“Order” means any final and enforceable order or any judgment, injunction, decree,
ruling, stipulation, award or writ of any court, tribunal, arbitrator or other Governmental Authority having jurisdiction;

 

		1.80	“Ordinary Course” means, when used in relation to the conduct of the Business, any
action which: (i) is consistent with the past practices of each Target and is taken in the ordinary course of the normal day-to-day
operations of such Person; (ii) is not required to be authorized by the board of directors of any Target and is not required to be
specifically authorized by the parent company (if any) of such Person; and (iii) is similar in nature and magnitude to actions customarily
taken, without any authorization by the board of directors, in the ordinary course of the normal day-to-day operations of other Persons
that are in the same line of business as the Targets;

 

		1.81	“Outside Date” means July 31, 2021;

 

		1.82	“Owned Properties” means any real or immovable property, lands, plants, buildings,
structures, erections, improvements, appurtenances and fixtures (including fixed machinery and fixed equipment) situated or forming part
thereon of which any Target is the registered or beneficial owner, a complete and accurate list of which is set forth in Section 3.1.35
of the Disclosure Letter;

 

		1.83	“Parties” means the Vendors and the Purchaser, and “Party” means
any one of them;

 

		1.84	“Permits” means all permits, certificates, certificates of authorization, certificates
of compliance, authorizations, consents, licenses, approvals of and registrations with any Governmental Authority or pursuant to any Laws
used or held in connection with the Business;

 

		1.85	“Permitted Encumbrances” means (a) any easements, servitudes, rights-of-way,
                                                                               licenses, agreements, restrictions that run with the land and other minor Encumbrances (including easements, rights-of-way and
                                                                               agreements for railways, sewers, drains, gas and water mains or electric light and power or telephone, telecommunications or cable
                                                                               conduits, poles, wires and cables) which do not affect the use or value of the Real Property affected thereby and provided the same
                                                                               have been complied with up to and on the Closing Date; (b) reservations, limitations, provisos and
                                                                               conditions, if any, expressed in any original grants of land by a Governmental Authority which do not affect the use or value of the
                                                                               Real Property affected thereby and provided the same have been complied with up to and on the Closing Date; (c) encumbrances of
                                                                               mechanics, labourers, workmen, builders, contractors, suppliers of material or architects or other similar encumbrances
                                                                               incidental to construction, maintenance or repair operations which have either been registered or filed pursuant to Laws against any
                                                                               Target or not yet registered or filed and which, in any such case, relate to obligations not due and payable; (d) statutory
                                                                               encumbrances relating to obligations not due and payable; (e) Encumbrances for Taxes, assessments, Governmental Authority
                                                                               charges or levies not due and payable as at the Closing Date; (f) Encumbrances for public utilities not due and payable as at
                                                                               the Closing Date; and (h) any other Encumbrances set forth in Section 3.1.25 of the Disclosure Letter which are indicated
                                                                               to be Permitted Encumbrances;

 

     

    - 13 - 

    

 

		1.86	“Person” includes any individual, trust, trustee, executor, administrator, legal personal
representative, estate, firm, partnership, joint venture, venture capital fund, joint stock company, association, body corporate, corporation,
unincorporated association or organization, Governmental Authority, syndicate or other entity, whether or not having legal status;

 

		1.87	“POD-1 Bill of Sale” means that certain bill of sale entered into among the Purchaser
and the Vendors at Closing relating to the sale of the assets making up the Vendors’ ‘POD-1’;

 

		1.88	“POD-1 Consideration” means the consideration allocated to the assets listed in the
POD-1 Bill of Sale;

 

		1.89	“Positive Adjustment Amount” has the meaning ascribed thereto in Section 2.6.1;

 

		1.90	“Pre-Closing Reorganization” has the meaning ascribed thereto in Section 4.6;

 

		1.91	“Pre-Closing Reorganization Documents” means all agreements, assignments, undertakings,
resolutions, share certificates, certificates, election forms, transfer forms, and other documents delivered in relation to the Pre-Closing
Reorganization;

 

		1.92	“Prime Rate” means the annual rate of interest announced from time to time by the Bank
of Montreal as being its reference rate then in effect for determining interest rates on commercial loans in Canadian dollars made in
Canada to its most credit worthy borrowers by such bank plus five percent (5%);

 

		1.93	“Purchase Price” has the meaning ascribed thereto in Section 2.2 hereof;

 

		1.94	“Purchased Shares” has the meaning ascribed thereto in Section 2.1;

 

		1.95	“Purchaser” has the meaning ascribed thereto in the preamble hereof;

 

		1.96	“Purchaser Fundamental Representations” has the meaning ascribed thereto in Section 3.5.2(a);

 

     

    - 14 - 

    

 

		1.97	“Purchaser Indemnified Party” has the meaning ascribed thereto in Section 7.1.1;

 

		1.98	“QST” means Taxes imposed under an Act Respecting the Québec Sales Tax
and the regulations made thereunder;

 

		1.99	“Real Properties” means the Owned Properties and the Leased Real Properties;

 

		1.100	“Real Property Leases” means
the leases, subleases and other agreements or arrangements under which the Leased Real Properties are leased, subleased, licensed by a
Target as lessee or under which any right to use or occupy the Leased Real Properties is otherwise granted to a Target, a complete list
of which is set forth in Section 3.1.35 of the Disclosure Letter;

 

		1.101	“Related Party” means (a) the
Vendors, or (b) any partner, shareholder, director, officer, trust, trustee or similar fiduciary, or any Affiliate of the Vendors, (c) any Person not acting at arm’s length (as defined in the Tax Act) with any of the Vendors;

 

		1.102	“Representatives” means, with
respect to any Person, the Affiliates, officers, directors, employees and agents of such Person;

 

		1.103	“Required Third Party Consents”
means the Third Party Consents set forth in Section 1.103 of the Disclosure Letter;

 

		1.104	“Response Period” has the meaning ascribed
thereto in Section 7.4;

 

		1.105	“Retained Liabilities” means all Liabilities
of the Targets, including:

 

		(a)	any Liability of any Target arising or incurred in connection with the negotiation, preparation, investigation
and performance of this Agreement, the Closing Documents and the transactions contemplated hereby and thereby, including fees and expenses
of counsel, accountants, consultants, advisers and others;

 

		(b)	any Liability in respect of debt, loans, credit facilities or other indebtedness of any Target or the
Business owing to financial institutions, excluding the Desjardins Loans and the Letters of Credit;

 

		(c)	any Liability relating to the Desjardins Loans in excess the Desjardins Loan Amount;

 

		(d)	any Liability relating to any Claim by any Tax Authority (whether made prior to, or after the Closing
Date) against any Target for Taxes, including any penalties or interest thereon, relating to periods (or portions thereof) ending on or
before the Closing Date;

 

     

    - 15 - 

    

 

		(e)	any Liability relating to any Claim by any Tax Authority which results or arises from a breach of a representation
contained in Section 3.1.30(a) hereof;

 

		(f)	any Liability related to any transfer of assets or securities or reorganization between the date of the
Letter of Intent and the Closing;

 

		(g)	any Liability related to the Pre-Closing Reorganization and/or the Pre-Closing Reorganization Documents;

 

		(h)	any Liability under any Claims relating to the Business, any Target, or the Purchased Shares (i) pending
or Threatened as of the Closing Date (including any Claims disclosed or required to be disclosed in Section 3.1.28 of the Disclosure
Letter) or (ii) asserted, Threatened or initiated after the Closing Date that arise out of or relate to any action, inaction, error,
omission, event or condition that existed or occurred or is alleged to have existed or occurred prior to the Closing Date, regardless
of whether any such Claim is asserted, threatened or initiated prior to, on or after the Closing;

 

		(i)	any Liabilities of the Vendors or the Targets in respect of the Transferred Employees to the extent that
such Liabilities are based on facts, circumstances or events that arise before the Closing, the termination of the employment of Transferred
Employees by the Vendors or the Targets, any Liabilities in respect of other employees of such Vendor or Target including all severance
payments, damages for wrongful dismissal and all related costs, the whole pertaining to the period before the Closing;

 

		(j)	any Liabilities which arose prior to the Closing to indemnify, reimburse or advance amounts to any present
or former officer, director, employee or agent of the Targets (including with respect to any breach of obligations by such Person), except
for indemnification of such Person under Article 7;

 

		(k)	any Liability, loss, damage or cost whatsoever arising out of or in connection with any Environmental
condition, matter, fact or circumstance occurring or existing, in whole or in part, on or prior to the Closing Date in relation to the
Targets, the Business or the assets of the Targets or the operations conducted at the Real Properties, whether or not known at such time,
and whether or not appearing before or after Closing, including, without limiting the generality of the foregoing, all liabilities arising
out of any duty or violation of any Environmental Laws by the Targets or the presence of Hazardous Materials;

 

		(l)	any Liabilities arising out of, in respect of or in connection with the failure by the Targets to comply
with any Law or Order;

 

     

    - 16 - 

    

 

		(m)	any Liability of the Targets existing or arising at any time prior to the Closing which is not disclosed
in this Agreement, including any Liability for Taxes, any violation of applicable Law, any violation, contravention or breach of any contract,
undertaking or agreement to which any Target is a party or any of the assets may be bound, and any Liability for services provided by
any Target at any time prior to the Closing;

 

		1.106	“Subsidiary” has the meaning ascribed thereto
in the CBCA;

 

		1.107	“Targets” has the meaning ascribed thereto
in the preamble;

 

		1.108	“Target Working Capital” means CAD $0;

 

		1.109	“Tax” and “Taxes”
includes any taxes, duties, fees, premiums, assessments, imposts, levies and other charges of any kind whatsoever and wheresoever imposed
by any Governmental Authority, including all interest, penalties, fines, additions to tax or other additional amounts imposed by any Governmental
Authority in respect thereof, and including those levied on, or measured by, or referred to as, income, gross receipts, profits, capital,
transfer, land transfer, sales, goods and services, harmonized sales, use, local, value-added, excise, stamp, withholding, business, franchising,
property, development, occupancy, employer health, payroll, employment, health, social services, education and social security taxes,
all surtaxes, all customs duties and import and export taxes, countervail and anti-dumping, all license agreements, franchise and registration
fees and all employment insurance, health insurance and Canada, Québec and other Governmental Authority pension plan premiums or
contributions and for greater certainty, all contributions payable under any tax Laws;

 

		1.110	“Tax
Act” means the Income Tax Act (Canada);

 

		1.111	“Tax Authority” means the
Canada Revenue Agency, and any other national, state, local, provincial, territorial or other Governmental Authority responsible for the
administration, implementation, assessment, determination, enforcement, compliance, collection or other imposition of any Taxes;

 

		1.112	“Tax
Contest” has the meaning ascribed in Section 7.7;

 

		1.113	“Tax Returns” means any and
all returns, reports, declarations, statements, information, estimates, rebates or credits, elections, designations, schedules, filings
or other documents (including any related or supporting information) relating to Taxes filed or required to be filed by any Tax Authority
or pursuant to any Law relating to Taxes or in fact filed with any Tax Authority, including all information returns, Claims for refund,
amended returns, declarations of estimated Taxes, and requests for extensions of time to file any of the preceding items;

 

     

    - 17 - 

    

 

		1.114	“Termination Notice” has the meaning ascribed
thereto in Section 4.4.2;

 

		1.115	“Terminating Party” has the meaning ascribed
thereto in Section 4.4.2;

 

		1.116	“Third Party Assets” means
all movable property located on the Real Properties at the time of Closing which is unrelated to the operation of the Business and includes,
without limitation, (i) all movable property specifically and solely required for the monitoring or network of the Vendors’
New Brunswick facility and any other facility; and (ii) all movable property owned by any third party, such as all servers belonging
to the Evo Group, all metal cutting materials and tools belonging Cutworks, and all personal property belonging to any Employees.

 

		1.117	“Third Party Claim” means
any Claim asserted against an Indemnified Party, that is paid or payable to, or claimed by, any Person who is not a Party or an Affiliate
of a Party;

 

		1.118	“Third Party Consents” means
all consents, approvals, notices, orders, rulings, authorizations, acknowledgements, registrations, declarations, filings, submissions
of information, waivers, sanctions, licenses, exemptions or permits (including the Environmental Authorizations) necessary or otherwise
required from any Governmental Authority or Person or pursuant to any Law in order for the Vendors to consummate the transactions contemplated
by this Agreement or any Closing Document; a complete and accurate list of the Third Party Consents is set forth in Section 3.1.9
of the Disclosure Letter;

 

		1.119	“Threatened” a Claim or other
matter will be deemed to have been “Threatened” if any demand or statement has been made (orally or in writing) or any notice
has been given (orally or in writing), or if any other event has occurred or any other circumstances exist, that would lead to a prudent
Person to conclude that such a Claim or matter is likely to be asserted, commenced, taken or otherwise pursued in the future;

 

		1.120	“Transferred Employees” has the meaning ascribed
thereto in Section 4.7.1;

 

		1.121	“Vendors” has the meaning ascribed thereto
in the preamble hereof;

 

		1.122	“Vendor Fundamental Representations”
has the meaning ascribed thereto in Section 3.5.1(a);

 

		1.123	“Vendor Indemnified Party”
has the meaning ascribed thereto in Section 7.2.1;

 

		1.124	“Working Capital” means the
current assets of the Targets, including cash, Accounts Receivable, supplier rebates, Tax credits, and prepaid expenses of the Targets,
minus the current liabilities of the Targets, including accounts payable, accrued liabilities, income Taxes payable of the Targets, and
deferred revenue; but excluding any deposits for Fixed Assets;

 

     

    - 18 - 

    

 

		1.125	“Work Orders” all outstanding work orders,
deficiency notices or orders to comply issued by any Governmental Authority with respect to the Real Properties; and

 

		1.126	“Year End Financial Statements” means the
unaudited, unconsolidated financial statements of the Targets for the years ended December 31, 2019 and December 31, 2018.

 

     

    

    

 

EXHIBIT B

FORM OF ESCROW AGREEMENT

 

(See attached document)

 

     

     

    

 

THIS ESCROW AGREEMENT is made as of [●],
2021.

 

	AMONG:	GPU.ONE HOLDING INC., a legal person duly incorporated under the Canada Business Corporations Act, having its head office at 3680 avenue du Musée, Montreal, Quebec, H3G 2C9;
	 	 
	 	(“GPU Holding”)
	 	 
	AND:	GPU.ONE ENTERPRISE
    INC., a legal person duly incorporated under the Canada Business Corporations Act, having its head office at 3682 avenue
    du Musée, Montreal, Quebec, H3G 2C9;
	 	 
	 	(“GPU Enterprise” and, collectively with GPU Holding, the “Vendors”) 
	 	 
	AND:	ARGO INNOVATION LABS INC., a legal person duly incorporated under the Business Corporations Act (British Columbia), having its head office at 700-401 W. Georgia St., Vancouver, British Columbia, V6B 5A1;
	 	 
	 	(the “Purchaser”)
	 	 
	AND:	[●],
    a legal person duly incorporated under the [●], having its head office at
    [●];
	 	 
	 	(the “Escrow Agent”)

  

WHEREAS the Purchaser and the Vendors have
entered into a share purchase agreement on February 2, 2021 (the “Share Purchase Agreement”) pursuant to which, inter
alia, the Purchaser agreed to purchase, and the Vendors agreed to sell, all the issued and outstanding shares of 9366-5230 Québec
Inc. and 9377-2556 Québec Inc., the whole in accordance with the terms and subject to the conditions therein contained;

 

WHEREAS the execution, delivery and performance
of this Escrow Agreement between the Purchaser, the Vendors and the Escrow Agent is a condition precedent to the obligation of the Purchaser
to complete the transactions and satisfy the obligations set forth in the Share Purchase Agreement, without which the Purchaser would
not have agreed to enter into the Share Purchase Agreement;

 

NOW THEREFORE, in consideration of the premises and mutual agreements
herein contained, and for other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged by each party),
the parties hereto agree as follows:

  

     

     

    

- 2 -

  

ARTICLE 1

INTERPRETATION

 

		1.1	Definitions 

 

The capitalized words and expressions
used in this Escrow Agreement or in its Schedules, unless otherwise defined herein, shall have the meaning ascribed to them in the Share
Purchase Agreement.

 

		1.2	Articles, Sections and Headings 

 

The division of this Escrow Agreement
into Articles, Sections, Exhibits and Schedules and the insertion of headings are for convenience of reference only and will not affect
the construction or interpretation of this Escrow Agreement. The terms “hereof”, “hereunder”, “herein”
and similar expressions refer to this Escrow Agreement and not to any particular Article, Section, Exhibit, Schedule or other portion
hereof. References herein to Articles, Sections, Exhibits or Schedules are to Articles, Sections, Exhibits and Schedules of this Escrow
Agreement or of the Exhibits and Schedules hereto unless otherwise expressly stated herein.

 

		1.3	Extended Meanings 

 

In this Escrow Agreement words importing
the singular number also include the plural and vice versa and words importing any gender include all genders. The term “including”
means “including, without limiting the generality of the foregoing”.

 

		1.4	Currency 

 

Except as expressly provided herein,
all references to currency contained herein are to lawful money of Canada.

 

		1.5	Calculation of Time 

 

		1.5.1	Time. Time is of the essence of this Escrow Agreement.

 

		1.5.2	Calculation of Time. Unless otherwise specified, time periods within or following which any payment
is to be made or act is to be done shall be calculated by excluding the day on which the period commences and including the day on which
the period ends. Where the last day of any such time period is not a Business Day, such time period shall be extended to the next Business
Day following the day on which it would otherwise end.

 

		1.5.3	Business Days. Whenever any action to be taken or payment to be made pursuant to this Escrow Agreement
would otherwise be required to be made on a day that is not a Business Day, such action shall be taken or such payment shall be made on
the first Business Day following such day.

 

		1.5.4	Time of Day. All references to times of the day are to the times of the day in Montreal, Québec.

 

     

     

    

- 3 -

 

ARTICLE 2

APPOINTMENT AND ADJUSTMENT HOLDBACK

 

		2.1	Appointment 

 

The parties hereto hereby appoint the
Escrow Agent to act as escrow agent pursuant to the terms and provisions of this Escrow Agreement. The Escrow Agent acknowledges receipt
of a sum in the amount of $300,000.00 (the “Escrow Holdback”) which shall be held and dealt with by the Escrow Agent
in accordance with the terms of this Escrow Agreement. The Escrow Agent acknowledges and agrees that it is not the beneficial owner of
the Escrow Holdback but holds same as agent for the Purchaser or the Vendors on the terms and conditions set out herein.

 

		2.2	Investment 

 

Up to the date of release, the Escrow
Agent shall invest the Escrow Holdback in an interest bearing trust account, or in bonds of the Government of Canada or any province of
Canada. All interest earned and paid on the Escrow Holdback shall added to the Escrow Holdback and dealt with by the Escrow Agent in accordance
with the terms of this Escrow Agreement. For income tax purposes, the Escrow Agent shall provide the Purchaser or the Vendors, on an annual
basis, with the tax statements prescribed by the applicable tax laws attesting that all interest earned on the Escrow Holdback has been
earned by the Purchaser or the Vendors.

 

		2.3	Payment 

 

The parties hereto understand and agree
that the Escrow Agent shall never be compelled to deliver to any party hereto any amount which exceeds the sums available in the Escrow
Holdback. Any amount required to be paid in excess of the Escrow Holdback shall be payable directly by such party to the party entitled
to such payment pursuant to this Escrow Agreement or the Share Purchase Agreement.

 

		2.4	Fees 

 

The Escrow Agent shall be entitled to
the reimbursement of reasonable out-of-pocket expenses and reasonable fees (collectively, the “Escrow Fees”) for carrying
out its duties hereunder. The Purchaser and the Vendors shall each be liable for the payment of fifty percent (50%) of the Escrow Fees.

 

ARTICLE 3

RELEASE UPON COMPLETION OF POST-CLOSING ADJUSTMENTS

 

		3.1	Adjustments 

 

The Purchaser or the Vendors shall send
to the Escrow Agent a copy of the final Closing Date Financial Statements and Closing Calculations pursuant to the Share Purchase Agreement,
together with a joint written direction setting forth the manner in which Escrow Holdback (or any portion thereof) should be disbursed,
as further contemplated by Section 3.2.

  

     

     

    

- 4 -

 

		3.2	Release of Escrow Holdback 

 

		3.2.1	If the aggregate sum of the adjustments set forth in Section 2.5.1 of the Share Purchase Agreement results
in a Positive Adjustment Amount, the Positive Adjustment Amount shall be paid to the Vendors directly by the Purchaser, without having
recourse to the amounts held in the Escrow Holdback.

 

		3.2.2	If the aggregate sum of the adjustments set forth in Section 2.5.1 of the Share Purchase Agreement results
in a Negative Adjustment Amount, and if the Negative Adjustment Amount is less than or equal to the unpaid balance of the POD-1 Consideration,
the Purchaser and the Vendors shall operate compensation on such amounts owed to one another and the Vendors shall forever release and
discharge the Purchaser from payment of the portion of the POD-1 Consideration used to compensate the Negative Adjustment Amount.

 

		3.2.3	If the aggregate sum of the adjustments set forth in Section 2.5.1 of the Share Purchase Agreement results
in a Negative Adjustment Amount which is greater than the unpaid balance of the POD-1 Consideration:

 

		(a)	the Purchaser and the Vendors shall operate compensation on the entirety of the POD-1 Consideration and
the Vendors shall forever release and discharge the Purchaser from payment of the full balance of the POD-1 Consideration used to compensate,
in part, the Negative Adjustment Amount;

 

		(b)	the Escrow Agent shall remit to the Purchaser by wire transfer, within five

 

(5) Business Days of the receipt by
the Escrow Agent of the final Closing Date Financial Statements and Closing Calculations, the amount by which the Negative Adjustment
Amount exceeds the unpaid balance of the POD-1 Consideration; and

 

		(c)	if applicable, the amount by which the Negative Adjustment Amount exceeds the sum of the unpaid balance
of the POD-1 Consideration and the Escrow Holdback shall be paid to the Purchaser directly by the Vendors.

 

ARTICLE 4

RELEASE UPON SETTLEMENT OF DIRECT CLAIM OR THIRD PARTY CLAIM

 

		4.1	Notice of Claim 

 

The Purchaser shall send to the Escrow
Agent a copy of any notice of Direct Claim or of Third Party Claim (as such terms are defined in the Share Purchase Agreement) made during
the term of this Escrow Agreement (such claims being hereinafter referred to, collectively, as “Outstanding Claims”
and, individually, as an “Outstanding Claim”). The Purchaser shall send a copy of such transmission to the Vendors.

  

     

     

    

- 5 -

  

		4.2	Release of Escrow Holdback 

 

The Escrow Agent shall release to the
accounts set forth in Schedule A hereto all or part of the Escrow Holdback as follows:

 

		4.2.1	Within three (3) Business Days following receipt of a joint written direction of the Purchaser and the
Vendors, in the amounts and as set forth in such joint written direction.

 

		4.2.2	To the Purchaser, three (3) Business Days after the expiry of the thirty (30) day period following receipt
by the Escrow Agent of a copy of the notice of Direct Claim addressed to the Vendors, but only if the Escrow Agent has not received a
copy of the written response of the Vendors to such Direct Claim within such thirty (30) day period.

 

		4.2.3	To the Purchaser, to the extent of any amount payable to the Purchaser pursuant to an Order with respect
to an Outstanding Claim or pursuant to any out-of-court settlement with respect to an Outstanding Claim, three (3) Business Days following
receipt by the Escrow Agent of a certified copy of such Order or out-of-court settlement as the case may be, provided however that in
the case of a final judgment, the certified copy thereof shall be accompanied by a certificate issued by the court in question or other
satisfactory proof that such judgment is not under appeal or that the delays for appeal have expired.

 

		4.2.4	To the Vendors, within three (3) Business Days of the six (6)-month anniversary of the Closing Date, the
amount by which the amount of the Escrow Holdback still held by the Escrow Agent at such time exceeds the amount of all Outstanding Claims
at such time.

 

		4.2.5	With respect to any amount retained by the Escrow Agent after the six (6)-month anniversary of the Closing
Date, to the Vendors or the Purchaser, to the extent and in the amount payable pursuant to an Order with respect to an Outstanding Claim
or pursuant to any out-of-court settlement with respect to an Outstanding Claim, in both cases, within three (3) Business Days following
receipt by the Escrow Agent of a certified copy of such Order or out-of-court settlement, as the case may be, provided however that in
the case of a final judgment, the certified copy thereof shall be accompanied by a certificate issued by the court in question or other
satisfactory proof that such judgment is not under appeal or that the delays for appeal have expired.

 

ARTICLE 5

RESIGNATION, REMOVAL OF ESCROW AGENT

 

The Escrow Agent may resign and be discharged
from all further duties and liabilities hereunder upon ten (10) Business Days prior written notice to the other parties hereto, and may
be removed from its office of Escrow Agent by the Purchaser and the Vendors at any time upon not less than ten (10) Business Days’
prior written notice given to the Escrow Agent by the Purchaser and the Vendors acting jointly. Upon the discharge or removal of the Escrow
Agent, the latter shall release the Escrow Holdback and any related documents in its possession to any Person designated by the Purchaser and the Vendors, acting
jointly, in a written notice delivered to the Escrow Agent not later than two (2) Business Days following such discharge or termination
(the “Transfer Notice”). Where the Purchaser and the Vendors acting jointly fail to remit the Transfer Notice to the
Escrow Agent in the manner set forth in this Article 5, the Escrow Agent shall release the Escrow Holdback and any related documents in
its possession to a trust company or legal counsel of its choosing, at the cost and expense of the Purchaser and the Vendors.

 

     

     

    

- 6 -

 

ARTICLE 6

DUTIES AND LIABILITIES OF THE ESCROW AGENT

 

		6.1	Duties and liabilities 

 

The Escrow Agent shall have no duties
or responsibilities other than those expressly set forth in this Escrow Agreement, and no implied duties or obligations of the Escrow
Agent shall be read into this Escrow Agreement. In addition:

 

		6.1.1	The Escrow Agent shall have no duty to enforce any obligation of any Person, other than as expressly provided
herein.

 

		6.1.2	The Escrow Agent shall not be liable for any action taken or omitted by it, in good faith and in the exercise
of its reasonable judgment, unless it shall be proved that the Escrow Agent committed an intentional or gross fault.

 

		6.1.3	The Escrow Agent may rely, and shall be protected in acting, upon any judgment, order, notice, demand,
direction, certificate or other instrument, paper or document which may be submitted to it in connection with its duties hereunder and
the directions incorporated therein and which is or are believed by the Escrow Agent to be genuine and signed or presented by the proper
Person(s), and may accept same as sufficient evidence of the facts stated therein. The Escrow Agent shall in no way be bound to request
further evidence (whether as to due execution or validity or as to the truth of any fact), and shall not be responsible for any loss that
may be occasioned by its failing to do so.

 

		6.1.4	If the Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions,
claims or demands from any party hereto or from a third Person with respect to any matter arising pursuant to this Escrow Agreement which,
in its opinion, are in conflict with any provision of this Escrow Agreement, it shall be entitled to obtain all third party counsel as
it shall deem necessary in its discretion and shall at all times be further entitled to refrain from taking any action authorized and
directed hereunder until it shall be authorized or directed otherwise in writing by each of the relevant parties hereto, or by an order
of a court of competent jurisdiction from which no further appeal may be taken.

 

		6.1.5	The Escrow Agent is automatically released from any and all liabilities and obligations upon release of
the Escrow Holdback in accordance with Article 4.

  

     

     

    

- 7 -

  

ARTICLE 7

INDEMNIFICATION OF ESCROW AGENT

 

		7.1	Indemnification 

 

The parties hereto will hold harmless
and solidarily indemnify the Escrow Agent and its respective partners, officers, directors and employees (the “Releasees”)
against all actions, proceedings, losses, liabilities, costs, claims and demands incurred or sustained by any Releasee in respect of
any matter or thing done by it under, pursuant to or in connection with this Escrow Agreement, or otherwise arising in connection with
the office of [●] as Escrow Agent hereunder, except insofar as the same arose through
the intentional or gross fault of the Escrow Agent. Notwithstanding anything else herein contained, this indemnity shall survive the
termination of this Escrow Agreement.

 

		7.2	Claim 

 

The Escrow Agent shall not have the
obligation to initiate a Claim, defend a Claim or intervene to a Claim with respect to this Escrow Agreement unless and until it has been
indemnified for all the Escrow Fees and for all fees and expenses that it would have to incur with respect to such Claim.

 

ARTICLE 8

TERMINATION OF THIS ESCROW AGREEMENT

 

Upon the resignation or discharge of the Escrow
Agent or upon the release of all of the Escrow Holdback in accordance with this Escrow Agreement, this Escrow Agreement shall terminate,
subject however to the terms set forth in Article 7.

 

ARTICLE 9

GENERAL PROVISIONS

 

		9.1	Further Assurances 

 

Each of the parties hereto shall from
time to time execute and deliver all such further documents and instruments and do all acts and things as another party may, either before
or after the Closing Date, reasonably require to effectively carry out or better evidence or perfect the full intent and meaning of this
Escrow Agreement.

 

		9.2	No Waiver 

 

Failure of a party hereto to insist
upon the strict performance of any term or condition of this Escrow Agreement or to exercise any right, remedy or recourse hereunder shall
not be construed as a waiver or relinquishment of any such term and condition.

 

		9.3	Successors, Assigns and Assignment 

 

This Escrow Agreement will enure to
the benefit of and be binding upon the respective successors and permitted assigns of the parties hereto. Except as set forth in Article
5, this Escrow Agreement may not be assigned by any party hereto without the prior written consent of the other parties, except that the Purchaser may
assign all or part of its rights and/or obligations under this Agreement to an Affiliate or a wholly-owned Subsidiary of the Purchaser
without the prior written consent of the other parties hereto, provided that the Purchaser shall remain liable with its assignee for
any obligations hereunder.

 

     

     

    

- 8 -

 

		9.4	Entire Agreement 

 

This Escrow Agreement, together with
Sections 2.6 and 7.9 of the Share Purchase Agreement (as between the parties hereto other than the Escrow Agent, which shall not be bound
by any such terms), constitutes the entire agreement between the parties hereto with respect to the subject matters hereof and cancels
and supersedes any prior understandings and agreements between the parties with respect hereto. There are no representations, warranties,
terms, conditions, undertakings or collateral agreements, express, implied or statutory, between the parties hereto other than as expressly
set forth in this Escrow Agreement.

 

		9.5	Amendments and Waivers 

 

No amendment to this Escrow Agreement
shall be valid or binding unless set forth in writing and duly executed by all parties hereto. No waiver of any breach of any provision
of this Escrow Agreement shall be effective or binding unless made in writing and signed by the party purporting to give same and, unless
otherwise provided, will be limited to the specific breach waived.

 

		9.6	Notices 

 

Any notice, direction or other communication
to be given under this Escrow Agreement shall be in writing and given or made in accordance with Section 9.8 of the Share Purchase Agreement
which shall apply, mutatis mutandis, to this Escrow Agreement, provided that any such notice, direction or other communication intended
for the Escrow Agent shall be addressed:

 

[●]

 

Attention: [●]

Fascimile: [●]

 

		9.7	Governing Law and Forum 

 

This Escrow Agreement shall be governed
by and construed in accordance with the Laws of the Province of Québec and the Laws of Canada applicable therein (excluding any
conflict of laws rule or principle, foreign or domestic, which might refer such interpretation to the laws of another jurisdiction). The
parties hereto hereby irrevocably and unconditionally submit to the exclusive jurisdiction of the courts of the Province of Québec
and elect domicile in the City of Montreal with respect to any matter relating to the execution or construction of this Escrow Agreement
or the exercise of any right or the enforcement of any obligation arising hereunder (excluding any conflict of forum rule or principle,
foreign or domestic, which might refer such matter to the courts of another jurisdiction).

 

 

     

     

    

- 9 -

 

		9.8	Severability 

 

If any provision of this Escrow Agreement
is determined by a court of competent jurisdiction to be invalid, illegal or unenforceable in any respect, such determination shall not
impair or affect the validity, legality or enforceability of the remaining provisions hereof, and each provision is hereby declared to
be separate, severable and distinct.

 

		9.9	Counterparts 

 

This Escrow Agreement may be executed
in one or more counterparts, each of which shall conclusively be deemed to be an original but all of which taken together shall be deemed
to constitute one and the same agreement. A facsimile transmission of this Escrow Agreement bearing a signature on behalf of a party shall
be legal and binding on such party.

 

		9.10	Language 

 

The parties hereto acknowledge that
they have required that this Escrow Agreement and all related documents be drawn up in English. Les parties aux présentes reconnaissent
avoir exigé que la présente convention d’écrou et tous les documents connexes soient rédigés
en anglais. 

 

(remainder of this page left blank intentionally)

 

     

     

    

   

(signature page to Escrow Agreement)

 

IN WITNESS WHEREOF the parties hereto have executed this Escrow
Agreement.

   

	GPU.ONE HOLDING INC.	GPU.ONE ENTERPRISE INC.

 

	 	 	 	 
	Per:	/s/ Vladimir Plessovskikh	 	Per:	/s/ Vladimir Plessovskikh
	 	Vladimir Plessovskikh	 	 	Vladimir Plessovskikh
	 	 	 	 
	 	 	ARGO INNOVATION LABS INC.

 

 

		 	 	Per:	/s/ Ian MacLeod
	 	 	 	Ian MacLeod

 

[ESCROW AGENT]

  

 

	 	 	 	 	 
	Per: 	[●]		 	 

  

     

     

    

 

SCHEDULE A

WIRE TRANSFER INSTRUCTIONS

 

If payment is to be made to the Vendors:

 

GPU.ONE HOLDING INC.

 

Beneficiary account name: [●]

Beneficiary address: [●]

Beneficiary bank name: [●]

Bank number (or ABA in US): [●]

SWIFT Code: [●]

Bank transit number: [●]

Bank address: [●]

Beneficiary account number: [●]

 

GPU.ONE ENTERPRISE INC.

 

Beneficiary account name: [●]

Beneficiary address: [●]

Beneficiary bank name: [●]

Bank number (or ABA in US): [●]

SWIFT Code: [●]

Bank transit number: [●]

Bank address: [●]

Beneficiary account number: [●]

 

If payment is to be made to the Purchaser:

 

Beneficiary account name: [●]

Beneficiary address: [●]

Beneficiary bank name: [●]

Bank number (or ABA in US): [●]

SWIFT Code: [●]

Bank transit number: [●]

Bank address: [●]

Beneficiary account number: [●]

 

     

     

    

 

EXHIBIT C

FORM OF MUTUAL RELEASE

 

(See attached document)

 

     

     

    

 

MUTUAL RELEASE

 

	To:	Argo
Innovation Labs Inc. (the “Purchaser”)
	 	GPU.ONE Holding
Inc. (“GPU Holding”)
	 	GPU.ONE Enterprise Inc. (“GPU Enterprise”
and, collectively with GPU Holding, the “Vendors”)
	 	9366-5230 Québec Inc. (“9366”)
	 	9377-2556 Québec Inc. (“9377” and,
collectively with 9366, the “Corporations”)

 

WHEREAS the Purchaser, the Vendors and
the Corporations have entered into a share purchase agreement on February 2, 2021 (the “Purchase Agreement ”)
pursuant to which, inter alia, the Purchaser agreed to purchase, and the Vendors agreed to sell, all the issued and outstanding
shares of the Corporations; and

 

WHEREAS the execution, delivery and performance
of this release is integral to the obligation of the Purchaser and the Vendors to complete the transactions and satisfy the obligations
set forth in the Purchase Agreement, without which the Purchaser and the Vendors would not have agreed to enter into the Purchase Agreement.

 

		1.	For good and valuable consideration, the receipt and sufficiency of which is hereby recognized, each of
the Vendors, on behalf of itself, its Affiliates, and their respective successors and assigns (hereinafter collectively referred to as
the “Vendor Releasors”) does hereby fully and unconditionally remise, release and forever discharge the Purchaser,
the Corporations, their respective Affiliates, officers, directors, employees, servants and agents, and all of their respective heirs,
successors and assigns (hereinafter collectively referred to as the “Vendor Releasees”), individually and collectively
from any and all Vendor Released Claims except for the Vendor Excluded Claims.

 

“Vendor Released Claims”
means actions, causes of action, suits, proceedings, debts, dues, contracts and covenants, whether expressed or implied, claims or demands
for damages, sums due, indemnity, costs, interest, loss or injury of every nature and kind whatsoever and howsoever arising which the
Vendor Releasors may heretofore have had, may now have, or may hereinafter have for or by reason of or in any way arising out of any cause,
matter or thing done or omitted to be done, including without limitation, in any way relating to or in connection with having been a creditor,
guarantor, director or shareholder of the Corporations.

 

“Vendor Excluded Claims”
means any claim relating to or arising out of the Vendor Releasors’ rights under (i) the Purchase Agreement, or (ii) any
Closing Document.

 

		2.	For good and valuable consideration, the receipt and sufficiency of which is hereby recognized, each of
the Corporations, on behalf of itself, its Affiliates, and their respective successors and assigns (hereinafter collectively referred
to as the “Corporation Releasors”) does hereby fully and unconditionally remise, release and forever discharge the
Vendors and their respective Affiliates, officers, directors, employees, servants and agents, and all of their respective
heirs, successors and assigns (hereinafter collectively referred to as the “Corporation Releasees”), individually and
collectively from any and all Corporation Released Claims except for the Corporation Excluded Claims.

 

     

    -2-

    

 

“Corporation Released Claims”
means actions, causes of action, suits, proceedings, debts, dues, contracts and covenants, whether expressed or implied, claims or demands
for damages, sums due, indemnity, costs, interest, loss or injury of every nature and kind whatsoever and howsoever arising which the
Corporation Releasors may heretofore have had, may now have, or may hereinafter have for or by reason of or in any way arising out of
any cause, matter or thing done or omitted to be done, including without limitation, in any way relating to or in connection with having
been a creditor, guarantor, director or subsidiary of the Vendors.

 

“Corporation Excluded Claims”
means any claim relating to or arising out of the Purchaser’s or the Corporation Releasors’ rights under (i) the Purchase
Agreement, or (ii) any Closing Document.

 

		3.	Each of the Vendor Releasors agrees and undertakes not to encourage or instigate any claims by other persons
or entities against the Vendor Releasees in connection with the Vendor Released Claims except for the Vendor Excluded Claims or institute
or continue any proceedings by way of action, arbitration or otherwise against any person or entity who or which might be entitled to
claim contribution, indemnity, damages or other relief over or against the Vendor Releasees in connection with the Vendor Released Claims
except for the Vendor Excluded Claims. Each of the Vendor Releasors further represents and warrants to and in favour of the Vendor Releasees
that it has not assigned, transferred or otherwise alienated any of its rights in any Vendor Released Claims to any person.

 

		4.	Each of the Corporation Releasors agrees and undertakes not to encourage or instigate any claims by other
persons or entities against the Corporation Releasees in connection with the Corporation Released Claims except for the Corporation Excluded
Claims or institute or continue any proceedings by way of action, arbitration or otherwise against any person or entity who or which might
be entitled to claim contribution, indemnity, damages or other relief over or against the Corporation Releasees in connection with the
Corporation Released Claims except for the Corporation Excluded Claims. Each of the Corporation Releasors further represents and warrants
to and in favour of the Corporation Releasees that it has not assigned, transferred or otherwise alienated any of its rights in any Corporation
Released Claims to any person.

 

		5.	This release shall enure to the benefit of each Vendor Releasee’s and Corporation Releasee’s
respective heirs, executors, administrators, legal and/or personal representatives, successors and assigns, as applicable, and shall be
binding upon the successors and assigns of the Vendor Releasors and the Corporation Releasors, as the case may be.

 

     

    -3-

    

 

		6.	The capitalized words and expressions used in this release, unless otherwise defined herein, shall have
the meaning ascribed to them in the Purchase Agreement. This release shall be governed by and construed in accordance with the Laws of
the Province of Québec and the Laws of Canada applicable therein (excluding any
conflict of laws rule or principle, foreign or domestic, which might refer such interpretation to the laws of another jurisdiction).
This release may be executed in one or more counterparts, each of which shall conclusively be deemed to be an original but all of which
taken together shall be deemed to constitute one and the same agreement and shall become effective, subject to any escrow arrangements
as agreed by counsel to the Purchaser and the Vendors, when one or more counterparts have been signed by each of the parties and delivered
to the other parties. A facsimile, PDF or other electronic transmission of this release bearing a signature on behalf of a party shall
be legal, valid and binding on such party and have the same force and effect as a manually signed original. The parties hereto acknowledge
that they have required that this release and all related documents be drawn up in English. Les parties aux présentes reconnaissent
avoir exigé que la présente quittance et tous les documents connexes soient rédigés en anglais.

 

 

(Signatures on following page)

 

     

    -4-

    

 

DATED this ______ day of ________________,
2021.

 

	GPU.ONE
HOLDING INC.	 	GPU.ONE ENTERPRISE INC.
	 	 	 
	 	 	 
	 	 	 
	By:	                	 	By:	                   
	 	 	 
	 	 	 
	9366-5230
QUÉBEC INC.	 	9377-2556 QUÉBEC INC.
	 	 	 
	 	 	 
	 	 	 
	By:	 	 	By:	 

 

READ AND ACCEPTED on this ______ day of ________________, 2021.

 

	ARGO INNOVATION LABS INC.	 
		 
	 	 
	By:	 	 	 	 

 

     

    

    

 

EXHIBIT D

FORM OF D&O RELEASE

 

(See attached document)

 

     

    

    

 

RESIGNATION AND RELEASE

 

[●],
2021

 

	TO:	9366-5230 Québec Inc. (“9366”)
	 	 
	 	
    9377-2556 Québec Inc. (“9377” and,
    collectively with 9366, the “Corporations”)

	 	
	AND TO:	The shareholders thereof

 

 

The undersigned hereby resigns
as a [director and/or officer] of the Corporations, such resignation to be effective as of the date hereof.

 

For good and valuable consideration
(the receipt and sufficiency of which is acknowledged), the undersigned irrevocably and unconditionally remises, releases and forever
discharges each of the Corporations, their respective predecessors, subsidiaries, affiliates, officers, directors, shareholders, representatives,
agents, successors and assigns (the “Released Persons”), from any and all actions, causes of action, suits, debts,
accounts, covenants, contracts, damages, demands and all other claims whatsoever, whether contingent or otherwise, which the undersigned,
as a director, officer, employee, shareholder or creditor of the Released Persons, or otherwise, ever had, now has or hereafter can, shall
or may have, now or at any time in the future, for or by reason of or in any way arising out of any cause, matter or thing whatsoever
existing up to the date hereof and, including, without limiting the generality of the foregoing, for or by reason of or in any way arising
out of any claim for indebtedness of the Released Persons to the undersigned, of every nature and kind.

 

Notwithstanding the foregoing,
this Release shall not extend to or include the covenants, obligations, representations or warranties of the parties made in, under or
pursuant to the share purchase agreement entered into on February 2, 2021 among Argo Innovation Labs Inc., GPU.ONE Holding Inc.,
GPU.ONE Enterprise Inc. and the Corporations (the “Purchase Agreement”).

 

This release shall enure to
the benefit of each Released Person’s respective heirs, executors, administrators, legal and/or personal representatives, successors
and assigns, as applicable, and shall be binding upon the successors and assigns of the undersigned.

 

The capitalized words
and expressions used in this release, unless otherwise defined herein, shall have the meaning ascribed to them in the Purchase
Agreement. This resignation and release shall be governed by and construed in accordance with the Laws of the Province of
Québec and the Laws of Canada applicable therein (excluding any conflict of laws rule or principle, foreign or domestic,
which might refer such interpretation to the laws of another jurisdiction). A facsimile, PDF or other electronic transmission of
this resignation and release bearing a signature on behalf of the undersigned shall be legal, valid and binding on the undersigned
and have the same force and effect as a manually signed original. The parties hereto acknowledge that they have required that this
resignation and release and all related documents be drawn up in English. Les parties aux présentes reconnaissent avoir
exigé que la présente demission et quittance et tous les documents connexes soient rédigés en
anglais

 

(remainder of this page left blank intentionally)

 

     

    

    

 

	 	 
	 	[●]

 

 

Signature Page - Resignation and Release

 

     

    

    

 

SCHEDULE 2.4.1

 

CALCULATION OF ADJUSTMENTS

 

     

    

    

 

SCHEDULE 3.1

 

REPRESENTATIONS AND WARRANTIES OF THE VENDORS

 

Representations in respect of Vendors

 

		3.1.1	Capacity and No Violation of Vendors.

 

		(a)	Each of the Vendors has been duly incorporated under all applicable Laws, is validly subsisting and is
in good standing under the Laws of its jurisdiction of incorporation. Each of the Vendors has full corporate or legal power and authority
to own and lease its assets and carry on its business as currently owned and carried on. Each of the Vendors is duly registered, licensed
or qualified to carry on business in each jurisdiction in which the nature of the business now being carried on or the property owned
or leased by it makes such registration, licensing or qualification necessary. No resolution has been adopted providing for the dissolution
or winding up of the Vendors.

 

		(b)	The Vendors have the requisite capacity and authority to enter into this Agreement and each Closing Document
to which they are a party and to perform their obligations hereunder and thereunder.

 

		(c)	The execution of this Agreement and the execution of the Closing Documents by each of the Vendors which
is a party thereto, and the consummation of the transactions contemplated hereby and thereby, have been duly authorized by all necessary
corporate action of the Vendors.

 

		(d)	This Agreement has been and each of the Closing Documents to which any of the Vendors is a party shall
at Closing have been duly executed by such Parties and constitute legal, valid and binding obligations, enforceable against such Parties
in accordance with their terms, subject to bankruptcy, insolvency and other similar Laws affecting creditors’ rights generally.

 

		(e)	The approval of this Agreement and each of the Closing Documents to which any of the Vendors is a party,
the execution by the Vendors of this Agreement and of each of the Closing Documents to which any of the Vendors is a party and the performance
by them of their obligations hereunder and thereunder and the completion of the transactions contemplated herein and in the Closing Documents,
will not result in:

 

		(i)	a violation of, default under or breach of, require any consent (except for the Third Party
                                                                Consents) to be obtained under or give rise to any termination rights by a third party, payment obligation by the Vendors or rights
                                                                of a third party the exercise of which would result in any breach or default under any provision of: (i) any Constating Records
                                                                of the Vendors, (ii) any Contract or Permit to which the Vendors are party or by which any of the Vendors (or the Purchased
                                                                Shares) is bound, or by which any of the Vendors is subject or is the beneficiary, (iii) any shareholders’ agreement, or
                                                                (iv) any Laws, or

 

     

    - 2 -

    

	 	 	 
		(ii)	the creation or imposition of any Encumbrance upon the Purchased Shares.

 

		3.1.2	Approvals and Consents. Other than the Third Party Consents, no consent, approval, notice, order,
ruling, authorization, registration, declaration, filing, submission of information, waiver, sanction, license, exemption or permit is
necessary or otherwise required to be obtained by any of the Vendors from any Governmental Authority or Person or pursuant to any Law
in connection with the execution of this Agreement or any Closing Document to which any of the Vendors is a party or the consummation
by the Vendors of the transactions contemplated hereby or thereby.

 

		3.1.3	Title to Purchased Shares. As of the date hereof, the Vendors are the absolute legal and beneficial
owners of, and have good and marketable title to, all of the Purchased Shares, free and clear of all Encumbrances. Immediately following
the completion of the Pre-Closing Reorganization and at the Closing, GPU Enterprise will be the absolute legal and beneficial owner of,
and will have good and marketable title to, all of the Purchased Shares, free and clear of all Encumbrances.

 

		3.1.4	Residency. The Vendors are not “non-residents” of Canada within the meaning of the
Tax Act.

 

Representations in respect of the Targets

 

		3.1.5	Organization.

 

		(a)	Each Target has been duly incorporated under all applicable Laws, is validly subsisting and is in
                                                                good standing under the Laws of its jurisdiction of incorporation. Each Target has full corporate or legal power and authority to
                                                                own and lease its assets and carry on its businesses as currently owned and carried on. Each Target is duly registered, licensed or
                                                                qualified to carry on business in each jurisdiction in which the nature of the business now being carried on or the property owned
                                                                or leased by it makes such registration, licensing or qualification necessary, all of which are set forth in Section 3.1.6 of
                                                                the Disclosure Letter. No resolution has been adopted providing for the dissolution or winding up of any Target. There has been no
                                                                formal request for the annulment or the dissolution of any Target or for the appointment of a receiver or trustee or any similar
                                                                person or entity to manage any of their affairs, nor has any petition been
filed with any competent authority requesting the initiation of any restructuring or liquidation procedures with respect to any Target.
No Target has been declared unable to meet its debts as they fall due, and there is no valid basis currently existing upon which it could
be reasonably expected that a third party could require the dissolution or winding up of any Target.

 

     

    - 3 -

    

 

		3.1.6	Capitalization

 

		(a)	Section 3.1.6 of the Disclosure Letter contains a complete and accurate list of each Target showing:
(i) legal name, trade names, jurisdiction of incorporation or formation, the jurisdiction in which it is authorized to do business,
(ii) authorized as well as issued and outstanding share capital, securities or other ownership interests (together with the holders
thereof), and (iii) their directors and officers. The Targets do not hold any direct or indirect interest in any Person.

 

		(b)	All of the outstanding share capital, securities and other ownership interests of the Targets are set
forth in Section 3.1.6 of the Disclosure Letter and all have been duly authorized, are validly issued, fully paid and non-assessable
and except as disclosed in Section 3.1.6 of the Disclosure Letter, all such share capital, securities and other ownership interests
are owned directly by the Vendors, free and clear of all Encumbrances and, immediately following the completion of the Pre-Closing Reorganization
and at the Closing, all such share capital, securities and other ownership interests will be owned directly by GPU Enterprise, free and
clear of all Encumbrances.

 

		(c)	There is no:

 

		(i)	outstanding security held by any Person which is convertible or exchangeable into shares, securities or
rights in the capital of the Targets;

 

		(ii)	outstanding subscription, option, warrant, call, pre-emptive right, commitment or agreement of any nature
whatsoever, written or verbal (other than this Agreement) obligating the Targets to issue, sell, purchase or transfer shares or securities
which in any way relate to the authorized or issued capital of the Targets;

 

		(iii)	agreement, commitment or understanding of any nature whatsoever, written or verbal (other than this Agreement)
which grants to any Person the right to purchase or otherwise acquire or have a Claim against issued and outstanding shares or securities
of the Targets;

 

     

    - 4 -

    

 

		(iv)	shareholders’ agreement, voting trust, voting agreement, pooling agreement or proxy with respect
to any shares, securities or other ownership interests of the Targets; or

 

		(v)	partnership, trust, joint venture, association or similar jointly owned business undertaking of whatsoever
nature involving the Targets.

 

		(d)	All dividends or distributions declared or paid by the Targets have been declared or paid in accordance
with their Constating Records or other equivalent documents, applicable Laws and any agreements or arrangements made with any third party
regulating the payment of dividends and distributions.

 

		3.1.7	Constating Records. The Constating Records of the Targets are complete and accurate in all material
respects, and are maintained in accordance with all applicable Laws and contain copies of all Constating Records and resolutions passed
by the respective shareholders and directors of the Targets since the date of their incorporation. Complete and accurate copies of the
Constating Records of the Targets which reflect all amendments made thereto have been delivered to the Purchaser. The Targets are not
in default under, or in violation of, any provision of their Constating Records, documents or by-laws.

 

		3.1.8	Capacity and No Violation of Targets.

 

		(a)	Each Target has the requisite capacity and authority to enter into this Agreement (to the extent it is
a party to this Agreement) and each Closing Document (to the extent it is a party to such Closing Document) and to perform each of its
obligations hereunder and thereunder.

 

		(b)	The execution and delivery of this Agreement and the execution and delivery of the Closing Documents by
each Target which is a party thereto, and the consummation of the transactions contemplated hereby and thereby, have been duly authorized
by all necessary corporate action of each Target.

 

		(c)	This Agreement and each of the Closing Documents to which any Target is a party have been duly executed
and delivered by such Target and constitute legal, valid and binding obligations, enforceable against it in accordance with their terms,
subject to bankruptcy, insolvency and other similar Laws affecting creditors’ rights generally.

 

		(d)	Except for the Third Party Consents, the approval of this Agreement and each of the Closing Document to
which any Target is a party, the execution and delivery by any Target of this Agreement and of each of the Closing Documents to which
it is a party and the performance by each Target of its respective obligations hereunder and thereunder and the completion of the transactions contemplated herein and
in the Closing Documents, will not result in:

 

     

    - 5 -

    

 

		(i)	a violation of, default under or breach of, require any consent to be obtained under or give rise to any
termination rights by a third party, payment obligation by any Target or rights of a third party the exercise of which would result in
any breach or default under any provision of: (i) any Constating Records of any Target, (ii) any
Contract or Permit to which any Target is party or by which any Target (or their respective assets or securities) are bound, or by which
any Target is subject or is the beneficiary, (iii) any shareholders’ agreement binding
upon any Target, or (iv) any Laws;

 

		(ii)	the creation or imposition of any Encumbrance upon the securities or the assets of any Target, or otherwise
restrict, hinder, impair or limit the ability of any Target to carry on the Business as and where it is not being carried on or as and
where it may be carried on in the future.

 

		3.1.9	Approvals and Consents. Other than the Third Party Consents: (i) no consent, approval, notice,
order, ruling, authorization, registration, declaration, filing, submission of information, waiver, sanction, license, exemption or permit
is necessary or otherwise required to be obtained by any Target from any Governmental Authority or Person or pursuant to any Law in connection
with the execution and delivery of this Agreement or any Closing Document to which any Target is a party or the consummation by any Target
of the transactions contemplated hereby or thereby or the conduct by any Target of the Business following the Closing as conducted on
the date hereof, and (ii) no consent of or notice to any other Person is required to prevent any Contract from terminating or any
Liability owing by the Targets from becoming due or to prevent the acceleration of any obligation of any Target.

 

		3.1.10	Competition Act Assets and Revenues. The Targets do not have assets in Canada that exceed C$96
million or annual gross revenues from sales in or from Canada that exceed C$96 million, in either case, as determined in accordance with
the Competition Act and the regulations thereunder.

 

		3.1.11	Compliance with Laws. Except as disclosed in Section 3.1.11 of the Disclosure Letter, each
Target has complied with and is not, and has at no time been, in violation of any applicable Laws or received any notice, written or verbal,
of any violation under or non-compliance with any applicable Law and, to the knowledge of the Vendors, there is no basis therefor. There
is no investigation, request for information, or other proceeding by any Governmental Authority to the knowledge of the Vendors pending
or Threatened against any Target. Without limiting the generality of the foregoing, all securities of the Targets (including, without
limitation, all options, rights or other convertible or exchangeable securities) have been
issued in compliance with all applicable securities Laws and all securities to be issued upon exercise of any such options, rights and
other convertible or exchangeable securities will be issued in compliance with all applicable securities Laws.

 

     

    - 6 -

    

 

		3.1.12	Absence of Questionable Payments; Anti-Money Laundering.

 

		(a)	No Target, director or officer or to the knowledge of the Vendors, employee, agent, sales representative,
distributor or other Person acting on behalf of any Target, has used any Target funds or made or facilitated any bribe, illegal rebate,
payoff, payment, kickback, unlawful contribution, payment, gift, entertainment or other unlawful expenditures of any nature. No current
or former director, officer, employee, agent, sales representative, distributor or other Person acting on behalf of any Target has accepted
or received any bribe, illegal rebate, payoff, payment, kickback, unlawful contribution, payment, gift, entertainment or other unlawful
expenditures of any nature. The Targets have at all times complied in all respects, and are in compliance in all respects, with all applicable
provisions of the Corruption of Foreign Public Officials Act and applicable Laws relating to prevention of corrupt practices in
similar matters under the Criminal Code of Canada and any similar Laws in foreign jurisdictions. No Target, nor to the knowledge
of the Vendors, any of their respective directors, officers, representatives, agents, partners or employees has established or maintained,
or is maintaining, any illegal fund of corporate moneys or other properties.

 

		(b)	The Business is and has at all times been conducted in compliance with applicable financial recordkeeping
and reporting requirements and all applicable anti-money laundering Laws and any similar or related Laws issued, administered or enforced
by any Governmental Authority related to anti-money laundering and no Claim by or before any Governmental Authority involving any Target
with respect to the foregoing is pending or, to the knowledge of the Vendors, Threatened. Each Target has in place policies and procedures
reasonably designed to detect and prevent activities prohibited by applicable anti-money laundering Laws, true and complete copies of
which have been provided to the Purchaser, and the Business is and has at all times been conducted at all times in compliance with such
policies and procedures.

 

		3.1.13	Permits. All Permits that each Target is required to obtain that are related to the Business or
the ownership or operation of its properties and assets have been obtained, are listed in Section 3.1.13 of the Disclosure Letter
and are currently valid, in full force and effect and in good standing. Other than as set forth in Section 3.1.13 of the Disclosure
Letter, there is no Permit required to carry on the Business as presently carried on or as proposed to be carried on after the Closing.
No Target has violated the terms or conditions of any such Permits and there is no reason why any of the Permits should be suspended,
cancelled, revoked or not renewed on the same terms.

 

     

    - 7 -

    

 

		3.1.14	Restrictions on Business Activities. Except as set forth in Section 3.1.14 of the Disclosure
Letter, there is no Contract or Order binding upon any Target that has or could reasonably be expected to have the effect of prohibiting,
restricting or impairing any business practice of any Target, any acquisition of property by any Target or the conduct of the Business
as currently conducted.

 

		3.1.15	Absence of Certain Changes or Events. Except as disclosed in Section 3.1.15 of the Disclosure
Letter, since December 31, 2019, each Target has conducted its business only in the Ordinary Course and there has not occurred:

 

		(a)	any Material Adverse Change or any damage, destruction or loss to the assets of any Target, whether covered
by insurance or not;

 

		(b)	any redemption, repurchase or other acquisition of shares or securities by the Targets or any declaration
of, payment of or agreement to pay any dividend, or the declaration or authorization of any other distribution of, on or in respect of
any of its securities whether payable in cash, securities or otherwise;

 

		(c)	any (i) increase in or modification of any compensation, bonus, pension, insurance or benefit arrangement
or any granting of severance or termination pay made to, for or with any of the directors, officers or Employees of any Target representing
an aggregate amount in excess of $5,000, or (ii) removal of directors or termination of officers of any Target other than as contemplated
herein;

 

		(d)	any acquisition, lease, sale, Encumbrance or other disposition of property or assets other than in the
Ordinary Course;

 

		(e)	any failure to pay or otherwise satisfy any Accounts Payable, liabilities or obligations when due and
payable, representing an aggregate amount in excess of $5,000, or any alteration of the practices and policies relating to the payment
and collection of Accounts Payable and/or Accounts Receivable;

 

		(f)	(i) any incurrence, creation, assumption or guarantee by any Target of any debt for borrowed money
or of any Encumbrance on any asset in excess of $5,000, (ii) any issuance or sale of any securities convertible into or exchangeable
for debt securities of any Target, or (iii) any issuance or sale of options or other rights to acquire from any Target debt securities
or any securities convertible into or exchangeable for any such debt securities;

 

     

    - 8 -

    

 

		(g)	any entering into, amendment, or relinquishment, termination or non-renewal by any Target of any Material
Contract, other than in the Ordinary Course;

 

		(h)	any waiver or cancellation of any Claim, Account Receivable, or right, in each case other than in the
Ordinary Course;

 

		(i)	any labour dispute or charge of unfair labour practice involving any Vendor or Target or any termination
or closure of any facility, business or operation;

 

		(j)	other than in the Ordinary Course, any loss of any customer or supplier nor have the Targets received
information to the effect that any of them may lose any customer or supplier (other than as may have been agreed independently by the
Purchaser and the Vendors);

 

		(k)	any change in the accounting methods, principles or practices or in the pricing, promotion or warranty
policies and practices of any Target;

 

		(l)	a split, combination or reclassification of any of the outstanding shares or securities of any Target;

 

		(m)	other than in the Ordinary Course, any writing up or writing down of any of the assets or re-evaluation
of inventory of any Target;

 

		(n)	any Contract to take any action which would make any representation or warranty set forth in this Agreement
or any Closing Document untrue, misleading or incorrect as of the date when made or at the Closing Date;

 

		(o)	in respect of the Purchased Shares, except as required by law, (i) any change in Tax reporting or
accounting principles; (ii) the settlement or compromise of any Tax liability; (iii) the making, change or rescission of any
Tax election; (iv) the surrender of any right to claim a Tax abatement, reduction, exemption, credit or refund; (v) the filing
of any amended Tax Return; or (vi) the consent to any extension or waiver of the limitation period, in each case, that is likely
to cause a Material Adverse Change on Purchaser or with respect to the Purchased Shares after the Closing Date; or

 

		(p)	any agreement or commitment to do any of the foregoing.

 

		3.1.16	Contracts

 

		(a)	Section 3.1.16 of the Disclosure Letter sets forth a list of all Material Contracts. Complete and
accurate copies of the Material Contracts (and written summaries setting forth the terms and conditions of each verbal Material Contract)
have been delivered to the Purchaser.

 

     

    - 9 -

    

 

		(b)	Each Material Contract is a legal, valid and binding obligation of each Person party thereto, enforceable
by or against the Target party to such Material Contract, and to the knowledge of the Vendors, any other Person party to such Material
Contract, in accordance with its terms, and is in full force and effect, and (subject to meeting or obtaining all Third Party Consents)
will be in full force and effect on identical terms immediately following the Closing, subject to bankruptcy, insolvency and other similar
Laws affecting creditors’ rights generally.

 

		(c)	All obligations of each Target under each of the Material Contracts have been performed, and there are
no defaults, events of default or violations (or which with or without notice, lapse of time or both, could reasonably be expected to,
individually or in the aggregate, result in a default, event of default or violation) under any of the Material Contracts on the part
of any Target or to the knowledge of the Vendors, on the part of the other party (or parties) to such Contract. No Target and no other
party (or parties) to any Contract has repudiated any Material Contract.

 

		(d)	No notice of termination of a Material Contract has been received or served by any Target and to the knowledge
of the Vendors, there are no grounds for termination, resiliation, rescission, avoidance or repudiation of any such contract.

 

		3.1.17	Major Suppliers and Customers. Section 3.1.17 of the Disclosure Letter contains a complete
and accurate list, as of the date hereof, of the ten (10) most important suppliers by supplier number, determined by the amounts
paid by the Targets to such suppliers, of goods and services to the Targets in the last three years and of the ten (10) most important
customers by customer number, determined by the amounts paid to the Targets by such customers, of the Targets for each of the last three
years. The relationships of the Targets with such customers and suppliers are good commercial working relationships. No such supplier
or customer notified any Target of its intention to change to a material extent its relationship or the terms upon which it conducts business
with them (including, in the case of suppliers, the payment and credit terms extended to the Target and, in the case of customers, the
rate or amount of sales or purchases) and, to the knowledge of the Vendors, there is no basis for such change. To the knowledge of the
Vendors, no Target has any reason to believe that any such supplier or customer would change the terms upon which it conducts business
with the Targets (including the payment and credit terms extended to them) as a result of the consummation of the transactions contemplated
by this Agreement.

 

		3.1.18	Financial Statements.

 

		(a)	The Year End Financial Statements have been prepared in accordance with ASPE and present fairly, in all
material respects, the financial position of the Targets as of the date and for the periods
presented therein.

 

     

    - 10 -

    

 

		(b)	The Interim Financial Statements present fairly, in all material respects, the financial position of the
Targets as of the date and for the periods presented therein, subject to normal year-end adjustments and the fact that no notes are appended
thereto.

 

		(c)	Each Target has devised and maintains internal accounting controls and information systems sufficient
to provide reasonable assurances that (i) information relating to any
Target is made known to its management, and (ii) the financial reporting and the preparation of financial statements for external
purposes in accordance with ASPE is reliable.

 

		3.1.19	Absence of Undisclosed Liabilities. No Target has any Liabilities other than those set forth and
adequately provided for or reserved against in the balance sheet included in the Financial Statements or those incurred in the Ordinary
Course and consistent with past practice since December 31, 2019; any Liabilities incurred in the Ordinary Course since the date
of the balance sheet included in the Financial Statements have not caused and could not reasonably be expected to cause a Material Adverse
Change.

 

		3.1.20	Capital Expenditures. Since December 31, 2019, each Target has made capital expenditures only
in the Ordinary Course and to the extent reasonably necessary to operate and maintain the Business and has not delayed or cancelled any
previously scheduled capital expenditures.

 

		3.1.21	Grants and Subsidies. No Target has applied for or received any grant, subsidy, payment or allowance
from any Governmental Authority, or has any present Liability of whatsoever nature and kind resulting from any subsidy agreement, contribution
agreement or similar agreement between any Target and any Governmental Authority.

 

		3.1.22	Bank Accounts and Related Powers of Attorney. Section 3.1.22 of the Disclosure Letter sets
forth (i) the name of each Person with whom the Targets maintain an account or safety deposit box and the names of all Persons authorized
to draw thereon or to have access thereto; and (ii) the name of each Person holding a general or special power of attorney from the
Targets for banking purposes and a summary of the terms thereof.

 

		3.1.23	Accounts Receivable. The Accounts Receivable of the Targets have arisen only from bona fide transactions
in the Ordinary Course. To the knowledge of the Vendors, there is no fact or circumstance generally (other than general economic conditions)
which could result in any increase in the non-collectability of the Accounts Receivable as a class in excess of the reserves therefore
(if any) set forth in the Financial Statements. All Accounts Receivable are fully and validly due and owing to a Target and are good and
fully collectible within 180 days of the
date of their issuance, subject to the reserve for bad debts recorded in the Books and Records. The Accounts Receivable constitute, and
will constitute at Closing, only valid, undisputed claims of the Targets not subject to valid claims of setoff or other defences or counterclaims
other than normal cash discounts accrued in the Ordinary Course.

 

     

    - 11 -

    

 

		3.1.24	Sufficiency of Assets. To the knowledge of the Vendors, the assets of the Targets are adequate
and sufficient to operate the Business immediately following the Closing in substantially the same manner as currently carried on.

 

		3.1.25	Title to Assets.

 

		(a)	Subject to Section 3.1.3, and except as set forth in Section 3.1.25 of the Disclosure Letter,
each Target is the absolute legal and beneficial owner of, and has good and marketable title to, or (in the case of property held under
a lease) an enforceable lease with respect to, or (in the case of property held under another Contract) an enforceable interest in or
right to use, all the assets used by such Target in connection with the Business, free and clear of all Encumbrances other than Permitted
Encumbrances;

 

		(b)	The Targets own and are in possession of each of the assets shown or reflected on the Financial Statements
or otherwise on the books of the Targets (except only those assets which have been disposed of in the Ordinary Course since the dates
thereof) and all other assets acquired since the dates thereof with good and marketable title, free and clear of all Encumbrances other
than Permitted Encumbrances. No Target has received in respect of its assets or any of them any notice of conflict with the asserted rights
of any other Person.

 

		3.1.26	Condition of Assets. The assets of the Targets (including, without limitation, the Fixed Assets
and the Real Properties) are adequate and suitable for their present and intended uses and are sufficient to conduct the Business as it
is currently conducted.

 

		3.1.27	Books and Records. The Books and Records of each Target (i) have been maintained in accordance
with applicable Laws and good business practices on a basis consistent with prior years, (ii) are stated in reasonable detail and
accurately and fairly reflect the transactions and dispositions of the assets of such Target, and (iii) accurately and fairly reflect
the basis for the Financial Statements.

 

		3.1.28	Litigation. Except as set forth in Section 3.1.28 of the Disclosure Letter, there is no Claim,
Order or investigation pending or, to the knowledge of the Vendors, Threatened against any Target or affecting any of the Purchased Shares
or any Permits, assets or business practices of any Target before any Governmental Authority, nor are the Vendors aware of any
facts which should, or could, form the basis of any such Claim, Order, investigation.

 

     

    - 12 -

    

 

		3.1.29	Environmental Matters. Except as disclosed in Section 3.1.29 of the Disclosure Letter:

 

		(a)	Each Target and the Real Properties are and have been in compliance with all Environmental Laws in effect
in any jurisdiction where a Real Property is located and in any jurisdiction where any Target is presently operating or has operated.

 

		(b)	Each Target has obtained from the relevant Governmental Authorities all Environmental Authorizations required
to operate the Business on the Real Properties, and all such Environmental Authorizations remain valid and in good standing on the date
hereof and will be valid and in good standing on the Closing Date.

 

		(c)	None of the Real Properties or of the immovable or real properties formerly owned by the Targets or over
which any Target has or had charge, management, custody or control (i) has ever been used for purposes of carrying on an industrial
or commercial activity as categorized in Schedule III of the Land Protection and Rehabilitation Regulation (c. Q 2, r. 37); or
(ii) has ever been used by any Target or any Person under its control as a waste disposal site; or (iii) has ever contained
equipment, such as emergency back-up generators, that discharges air emissions in excess of the limits prescribed under applicable Environmental
Laws; or (iv) has ever had, asbestos, asbestos-containing materials, PCBs, lead, radioactive substances or other Hazardous Material
located on, at, in or under the land, soil, surface water or groundwater of the Real Properties, except in compliance with Environmental
Laws, nor was there any petroleum equipment, active or abandoned, aboveground or underground, located on, at or under any of the Real
Properties, other than where such matters were in compliance with Environmental Laws.

 

		(d)	To the knowledge of the Vendors, no property adjacent to any of the Real Properties is contaminated,
                                                                or is at risk of being contaminated or is a potential source of contamination for any Real Property and no Hazardous Material in
                                                                excess of the limits prescribed under applicable Environmental Laws is (i) present at the limits of any Real Property, or (ii)
represents a serious risk of off-site contamination on or from any Real Property.

 

		(e)	No Target has transported, removed or disposed of any Hazardous Materials outside of Canada or the United
States, or to a location that is not duly authorized by the appropriate Governmental Authority to receive such Hazardous Materials.

 

     

    - 13 -

    

 

 

		(f)	No Target has been required by any Governmental Authority to (i) alter any of the Real Properties
in a material way in order to be in compliance with Environmental Laws, (ii) file any notice with any Governmental Authority relating
to any potential or actual contaminated Real Property, or (iii) conduct a cessation of activities, a change of use all within the
meaning of Section IV.2.1 of the Environment Quality Act, a closure, an environmental rehabilitation or an environmental remediation
of any Real Property.

 

		(g)	There are no pending Claims or, to the knowledge of the Vendors, Threatened Claims or restrictions of
any nature arising, resulting under or pursuant to any Environmental Laws with respect to or adversely affecting any Target or any of
the Real Properties. No Target and none of their respective directors or officers has been convicted of an offense for non-compliance
with Environmental Laws, been fined or received a penalty for non-compliance with Environmental Laws or settled a lawsuit relating to
non-compliance with Environmental Laws.

 

		(h)	The Targets have not received, and have no reasonable basis to expect the receipt of, any directive, inquiry,
notice, Order, non-compliance, warning, sanction or other communication from any Governmental Authority or other Persons that relates
to any Hazardous Material or to any offence or failure or any non-compliance real, alleged or potential, in connection with applicable
Environmental Laws and they do not believe that there is a reasonable basis for receiving any such directive, inquiry, notice, Order,
warning or other communication.

 

		(i)	The Targets have provided the Purchaser with complete and accurate copies of all documents and information
in their possession or control relating to the existing Environmental condition of the Real Properties, including any environmental reports,
any Environmental Authorization and any written correspondence with any Governmental Authority related to the Environmental condition
of the Real Properties.

 

		3.1.30	Tax Matters. In each case, except as disclosed on Section 3.1.30 of the Disclosure Letter:

 

		(a)	Each of the Targets has duly and timely made or prepared or caused to be made or prepared and filed all
Tax Returns required to be filed by it prior to the Closing Date with the appropriate Governmental Authorities and has duly, completely
and correctly reported to such appropriate Governmental Authorities all income and all other amounts and information required to be reported
thereon and all such Tax Returns continue to be true, correct and complete in all material respects. No claim has ever been made by an
authority in a jurisdiction where the Targets do not file Tax Returns that such Target is or may be subject to taxation by that jurisdiction, or is otherwise required to
file Tax Returns in that jurisdiction.

 

    

    -14-

    

 

		(b)	The Targets have paid all Taxes, including all instalments on account of Taxes for the current year, that
are due and payable by them whether or not assessed by the appropriate Governmental Authority and there are no Taxes that would be due
if asserted by any Governmental Authority. The Targets have established reserves that are reflected on their Books and Records and on
the Financial Statements that are adequate for the payment by the Targets of all Taxes that are not yet due and payable (and that will
not be due and payable by the Closing Date) and that relate to periods or portions thereof ending on or prior to the Closing Date. Except
to the extent provided for in the Financial Statements, the Targets are not liable for any Tax at the date hereof, no deficiencies for
any Taxes have been asserted in writing or assessed against the Targets which remain unpaid, except for deficiencies which are being contested
in good faith and for which adequate provision has been made in the Financial Statements.

 

		(c)	With respect to any period for which Tax Returns are not yet required to be filed or for which Taxes are
not yet due and payable, the Targets have only incurred liabilities for Taxes in the Ordinary Course.

 

		(d)	Further to any audits that might have been conducted on the Targets, the Tax Authorities have not challenged
their residency for Tax purposes and there are no valid grounds for such challenge.

 

		(e)	The Targets will not be required to include any item of income in, or exclude any item of deduction from,
taxable income for a period (or portion thereof) ending on or after the Closing Date as a result of any (i) change in accounting
methods or principles; or (ii) instalment sale gain, where the inclusion in income would result in a Tax liability in excess of the
reserves therefore; (iii) agreement with any Governmental Authority executed prior to the Closing; (iv) intercompany transaction
entered into prior to the Closing; (v) open transaction disposition made prior to the Closing; or (vi) prepaid amount received
on or prior to the Closing Date.

 

		(f)	The Targets have not requested or entered into any agreement or other arrangement or executed any waiver,
which agreement, arrangement or waiver is still in effect, providing for any extension of time within which (i) to file any Tax Return covering
any Taxes for which the Targets are or may be liable; (ii) to file any elections, designations or similar filings relating to Taxes
for which the Targets are or may be liable; (iii) the Targets are required to pay or remit any Taxes or amounts on account of Taxes;
or (iv) any Governmental Authorities may assess or collect Taxes for which the Targets are or may be liable.

 

    

    -15-

    

 

		(g)	There are no reassessments of Taxes or notices of Tax deficiencies that have been issued and are outstanding
with respect to the Targets. There are no Claims now pending or, to the knowledge of the Vendors, Threatened against the Targets in respect
of any Tax Return or of any such Taxes and there are no matters under discussion, audit, objection or appeal with any Governmental Authorities
relating to such Taxes and there are no matters under discussion, audit, objection or appeal with any Governmental Authorities relating
to such Taxes. More specifically, but without limiting the generality of the foregoing, no Tax Authority is now asserting or, to the knowledge
of the Vendors, Threatening to assert against the Targets any deficiency or Claim for additional Taxes and there are no such deficiencies
or potential Claims for additional Taxes and there are no requests for information currently outstanding that could affect the Taxes of
the Targets.

 

		(h)	Each of the Vendors and the Targets has duly and timely withheld from any amount paid or credited, or
deemed paid or credited, by it to or for the account or benefit of any Person, including any Employees, officers or directors and any
non-resident Person, the amount of all Taxes and other deductions required by any Laws to be withheld from any such amount, has duly and
timely remitted the same to the appropriate Governmental Authorities, has complied in all material respects with all Tax information reporting
provisions of all applicable Laws, and has not received any notice that it is in violation of any applicable Law relating to the payment
or withholding of Taxes. Each of the Vendors and the Targets has remitted all Quebec Pension Plan contributions, Canada Pension Plan contributions,
other applicable pension contributions, unemployment insurance premiums, employer health Taxes and other Taxes payable by each of them
in respect of their Employees and have remitted such amounts to the proper Governmental Authorities within the time required by applicable
Laws.

 

		(i)	For all transactions between the Vendors or the Targets on the one hand, and any non-resident Person with
whom the Vendors or the Targets was not dealing at arm’s length during a taxation year ending on or before the Closing Date on the
other hand, each of the Vendors and the Targets, as applicable, has respected the contemporaneous documentation requirements imposed by
Law and made or obtained records or documents that meet the requirements of paragraphs 247(4)(a) to (c) of the Tax Act (or any
corresponding provision of other applicable law). No Governmental Authority is asserting (or has threatened to assert) in writing a claim
against the Targets under or as a result of a failure to maintain arm’s length treatment with respect to intercompany transactions.

 

    

    -16-

    

 

		(j)	Where a Target is required by applicable Law to be registered under an applicable valued-added or sales
tax Law, it is duly registered under such Law. Each Target has timely collected
paid and remitted to the appropriate Governmental Authorities when required by Law to do so, all amounts required to be collected, deemed
to have been collected by it or that should have been collected or paid on account of all Taxes under any valued-added or sales tax Law
in Canada.

 

		(k)	Section 3.1.30 of the Disclosure Letter accurately sets out the status of the following tax accounts
of the Targets as of the Closing Date: (i) the adjusted cost base of the shares of the Targets, (ii) the paid-up capital for
purposes of the Tax Act of its issued and outstanding shares (by class and series) and all the Tax elections in prescribed forms, designations
and elections made and filed on behalf of, or in respect of, the Targets for every taxation year ended on or prior to the Closing Date
to the extent that these elections and designations are relevant in any taxation year commencing after the Closing Date.

 

		(l)	The Targets do not have, nor had, any obligation to file on or prior to the Closing Date any Tax Return
required to be made, prepared or filed under the applicable Law of any jurisdiction in respect of any Taxes and the Targets do not have
any outstanding liability on account of any failure to comply with any such obligation.

 

		(m)	The Targets are neither (i) a party to any tax sharing, indemnification or allocation agreement (other
than any agreement entered into in the ordinary course of business and not primarily related to Taxes, such as a loan or lease agreement);
nor (ii) have any Liability for the Taxes of any Person under applicable Law, as a transferee or successor or by contract or agreement.

 

		(n)	The Targets are, in all material respects, in compliance with the terms and conditions of any applicable
Tax exemptions, Tax agreements or Tax Orders of any Governmental Authority to which they are subject.

 

		(o)	Any adjustment of Taxes of the Targets made by a Governmental Authority which is required to be reported
to another Governmental Authority has been so reported.

 

		3.1.31	Related Party Transactions. Section 3.1.31 of the Disclosure Letter sets forth a complete
and accurate list (including the name of the parties) of all Contracts between (i) the Vendors and the Targets, (ii) any Targets
and any Related Party. Complete and accurate originals (or a detailed summary in the case of any verbal agreement) of each such Contract
(and, where no originals are available to the Targets, copies of such Contracts) were delivered to the Purchaser.

 

    

    -17-

    

 

		3.1.32	Employee Matters

 

		(a)	Section 3.1.32 of the Disclosure Letter contains a complete and accurate list of: (i) all Employees,
as well as all consultants, sales representatives, agents or directors employed or engaged
by the Targets showing, for each such Person, the name, the employer, his/her title, date of hire, vacation pay entitlement, leave of
absence status, current annual remuneration, bonus entitlement and any other entitlement or benefit, and (ii) all Persons to whom
offers of employment or engagement under an employment, consultancy or service agreement has been made by any Target that has not yet
been accepted, or which has been accepted but where the employment or engagement has not yet started.

 

		(b)	Section 3.1.32 of the Disclosure Letter
also contains, separately, a complete and accurate list of all written individual employment, management, consulting or agency Contracts,
any written employee or human resources personnel policies, handbooks or manuals of any Target, any change of control agreement, indemnity
agreement, agreement as to the length of notice of termination of employment, all Collective Agreements, and any severance, retention
or separation Contracts. Complete and accurate copies of such Contracts have been delivered to the Purchaser and complete and accurate
copies of policies, handbooks or manuals have been made available to the Purchaser.

 

		(c)	Except as set forth in Section 3.1.32 of the Disclosure Letter, no Target is bound to any employment
or service contract (whether written or oral) with any Employee, consultant or other Person which is not terminable on the giving of reasonable
notice in accordance with applicable Law, nor are there any management agreements, retention bonuses or employment contracts providing
for cash or other compensation or benefits upon the consummation of the transaction contemplated by this Agreement.

 

		(d)	The Targets are not, nor have they been, a party, either directly or by operation of law, to any Collective
Agreement. No trade union, council of trade unions, employee bargaining agency, association of employees or affiliated bargaining agent
holds bargaining rights with respect to any of the Employees by way of certification, interim certification, voluntary recognition, related
employer or successor employer rights, or has applied or to the knowledge of the Vendors, Threatened to apply, to be certified as the
bargaining agent of any of the Employees. To the knowledge of the Vendors, there are no pending or Threatened union organizing activities
involving the Employees.

 

    

    -18-

    

 

		(e)	Except as set forth in Section 3.1.32 of the Disclosure Letter, each Target has complied in all material
respects with all applicable employment Contracts, written employee or human resources personnel policies (to the extent they contain
enforceable obligations), handbooks or manuals relating to the Targets (to the extent they contain enforceable obligations), any severance
or separation Contracts, collective agreements, codes of conduct or practice, customs and practices and all applicable Laws relating to labour and
employment matters, including any provision thereof relating to wages, salary or other compensation, pension provisions, the payment of
employee benefits including any bonus under the relevant bonus scheme, hours of work or other employment standards, immigration, data
protection, personal information protection, occupational safety and health, workers’ compensation, compensation and health compensation
for employment injuries and the consequences they entail, labour relations, collective bargaining, human rights, unfair labour practices,
discrimination in employment, pay equity or provisions relating to termination of employment, and there are no payments due thereunder
which have not been paid. Except as set forth in Section 3.1.32 of the Disclosure Letter, there are no outstanding Claims with respect
to the Employees or in respect of such Laws.

 

		(f)	All accruals for unpaid vacation pay or other paid leaves or benefits, premiums for employment insurance,
Québec and Canada Pension Plan premiums (and premiums under similar legislation in the other applicable jurisdictions), accrued
wages, salaries, bonuses, incentive payments, commissions and employee benefit plan payments have been reflected in the Financial Statements
or will be reflected on the Closing Date Financial Statements, and there is no fact that indicates that such accruals reflected in the
Financial Statements are understated.

 

		(g)	None of the Targets or the Vendors has or has any reason to expect any labour dispute, and there is no
reason to believe that there may be an interruption of operations or that the consummation of the transactions contemplated by this Agreement
will result in a disruption in, or change in the quality of, current labour relations. There is no strike or lock-out occurring or, to
the knowledge of the Vendors, Threatened. No Target has suffered during the past thirty-six (36) months any strike, lock-out, work stoppage or
slackening, or other labour dispute.

 

		(h)	No liability has been incurred and which remains outstanding by any Target for breach of any contract
of service or for services, for reinstatement or re-engagement, or for compensation for wrongful or unfair dismissal or discrimination
or for failing to comply with any order for the reinstatement or re-engagement of any employee or for failure to comply with a tribunal
or court order, decision, binding recommendation or determination relating to an employee or former employee. No material gratuitous payment
has been made or promised by any Target in connection with the termination or proposed termination of the employment of any present or
former director or employee. There is no person previously employed by the Vendors or the Targets who, to the knowledge of the Vendors,
now has or may have a right to return to work or a right to be re-instated or be re-engaged by any Target.

 

    

    - 19-

    

 

		(i)	The Vendors have provided the Purchaser with all inspection reports in the possession of the Vendors
                                                                and issued within the last three (3) years, under occupational health and safety Laws relating to the Business or any Target.
                                                                There are no outstanding inspection orders nor any pending or to the knowledge of the Vendors, Threatened, charges made under any
                                                                occupational health and safety Laws relating to the Business or any Target. There have been no fatal or critical accidents within
                                                                the last three (3) years which might lead to charges under occupational health and safety Laws
                                                                relating to the Business or any Target. The Vendors have complied in all respects with any orders issued under occupational health
                                                                and safety Laws relating to the Business or any Target. There are no appeals of any orders under occupational health and safety Laws
                                                                relating to the Business or any Target which are currently outstanding.

 

		(j)	There are no notices of assessment, provisional assessment, reassessment, supplementary assessment, penalty
assessment or increased assessment (collectively, “Assessments”) or any other communications related thereto which
the Vendors have received from any workers’ compensation or workplace safety and insurance board or similar Governmental Authorities
in any jurisdictions where the Business is carried on. There are no Assessments which have not been paid in full and there are no facts
or circumstances which may result in an increase in liability to the Vendors or any Target under any applicable workers’ compensation
or workplace safety and insurance Laws after the Closing.

 

		3.1.33	Employee Plans. There are no Employee Plans, including any related trust agreements, insurance
contracts and other documents governing any Employee Plan, in effect among the Employees and the Vendors or the Targets, nor have there
ever been. Neither the Vendors nor the Targets have initiated any steps or made any written or oral commitments to implement any Employee
Plan.

 

		3.1.34	Data protection. Each Vendor and Target has fully complied with the requirements of all applicable
Laws concerning rights in respect of privacy and personal data.

 

		3.1.35	Real Properties

 

		(a)	Section 3.1.35 of the Disclosure Letter contains a list of all of the Real Property Leases
                                                                setting out, in respect of each Real Property Lease, the identity of the lessor and of the lessee, a description of the leased
                                                                premises (by municipal address and proper legal description), the term of the Real Property Lease (specifying the current expiration
                                                                date), the space occupied, the rental payments under the Real Property Lease (specifying any breakdown of base rent and additional
                                                                rents and the date through which such payments have been made), any security deposit or other guarantee such as letters of credit or
                                                                movable hypothecs, any rights of renewal or termination and
the terms thereof, any “must operate” requirements and any restrictions on use of leased premises or on assignment or change
of control of the lessee. Complete and accurate copies of the Real Property Leases including all amendments, modifications, notices or
memoranda of lease, all estoppel certificates or subordinations, non-disturbance and attornment agreements, if any, and other documents
related thereto have been delivered to the Purchaser.

 

    

    - 20-

    

 

		(b)	All rent to be paid and other payments required to be made by any Target pursuant to the Real Property
Leases have been duly paid or made to date, and no Target is otherwise in default in meeting its obligations under any of the Real Property
Leases. The Targets are not party to any lease or sub-lease as lessor or sub-lessor. None of the lessors under any of the Real Property
Leases is in default in meeting any of its obligations under any of the Real Property Leases. No situation exists which, by reason of
the passage of time or the giving of notice, or both, would constitute a default by any party to any of the Real Property Leases.

 

		(c)	The present use of, and operations conducted at, each Leased Real Property is permitted under the terms
of the Real Property Lease applicable thereto, and no Real Property Lease is a sublease.

 

		(d)	Section 3.1.35 of the Disclosure Letter also contains, separately, a complete and accurate list of
all Owned Properties. Except for Permitted Encumbrances, the Targets are the absolute legal beneficial owners of and have good and marketable
title to, all the Owned Properties, free and clear of all Encumbrances.

 

		(e)	The Real Properties constitute all of the real and immovable property interests held for use, or used,
by the Targets.

 

		(f)	Except as disclosed in Section 3.1.35 of the Disclosure Letter, there are no Contracts granting to
any other Person the option to or the right of use or occupancy of any of the Real Properties (or any portion thereof), and there is no
other Person in possession of all or any portion of the Real Properties.

 

		(g)	None of the facilities currently existing on any of the Real Properties encroaches upon, and any facilities
under construction on any of the Real Properties will not encroach upon, the real or immovable property of any other Person except for
Permitted Encumbrances. No facility of any other Person encroaches upon any of the Real Properties. Each facility currently existing on
any of the Real Properties is supplied with utilities and other services (including gas, electricity, water, drainage, sanitary sewer,
storm sewer, fire protection and telephone) necessary for the operation of such facility as
the same is currently operated. Each parcel of Real Property has a legally valid and enforceable right to access by Persons or vehicles
to a public road.

 

    

    - 21-

    

 

		(h)	Owned Properties are zoned in a final and binding manner which permits its current use.

 

		(i)	Except as disclosed in Section 3.1.35 of the Disclosure Letter, there are no outstanding Work Orders
or other requirements or notices relating to the Real Properties which have been issued by any other Governmental Authority or any board
of any fire underwriters or any insurer nor are there any notices or matters under discussion with any such departments or authorities
relating to Work Orders or other requirements or notices;

 

		(j)	The Targets have not received any notice from any Governmental Authority with respect to any by-law change
affecting any of the Real Properties or any notice relating to any threatened or pending condemnation of any of the buildings located
on the Real Properties.

 

		(k)	The Targets have not received any notice and are not aware of any material or substantial facts or circumstances
relating to any of the Real Properties or to the zoning, or permitted uses thereof, or the provisions of any of the Real Property Leases,
which have not been disclosed to the Purchaser and which might, if disclosed, be reasonably expected to affect the Purchaser’s decision
to enter into this Agreement.

 

		(l)	All repairs and improvements to the buildings located at the Real Properties being carried out by the
Vendors shall be completed in a good and workerlike manner and fully paid for prior to the Closing Date.

 

		(m)	To the knowledge of the Vendors, there are no latent defects in the Real Properties.

 

		(n)	No business or operations are conducted at or on any of the Real Properties other than those of the Targets.

 

		(o)	Complete and accurate copies of all Real Estate Leases and of all certificates of location, surveys, title,
opinion or report, deeds of acquisition and title insurance which relate, in whole or in part, to the Owned Properties have been given
to the Purchaser.

 

    

    - 22
                                                                          -

    

 

 

		3.1.36	Intellectual Property Rights

 

		(a)	Section 3.1.36 of the Disclosure Letter contains a complete and accurate list of (i) all registered
Intellectual Property of each Target; (ii) all pending applications for Intellectual Property; (iii) all domain names and social
media identifiers that are owned in connection with the business of the Targets; (iv) all trade-marks and trade names used and owned
by the Targets that have not been registered or applied for (indicating for each trade-mark or trade name the relevant products, services
and activities); and (v) any other Intellectual Property owned by the Targets that is necessary and important for the Business, products
and services as they stand at the date of Closing (hereinafter collectively the “Key Intellectual Property of the Targets”).
One Target is the exclusive owner of each item of Key Intellectual Property of the Targets, free and clear of all Encumbrances other than
Permitted Encumbrances. Complete and accurate copies of all the aforesaid registrations and applications, in each case as amended or otherwise
modified and in effect, have been delivered to the Purchaser.

 

		(b)	Each item of registered or applied for Intellectual Property listed in Section 3.1.36 of the Disclosure
Letter (i) is validly existing, subsisting and in full force and effect, is not subject to cancellation for failure to use or unauthorized
use by third parties, (ii) was validly registered or issued or, in the case of an application, was applied for in compliance with
applicable legislation, (iii) was renewed or extended to the full extent permitted by applicable law, (iv) will be valid, subsisting
and in full force and effect on identical terms immediately following Closing, and (v) is not subject to any maintenance fees or
Taxes or actions falling due within ninety (90) days following the Closing, save as specifically set forth in Section 3.1.36 of the
Disclosure Letter. Nothing has been done or not been done as a result of which any Intellectual Property has ceased or might cease to
be valid, subsisting and in full force and effect.

 

		(c)	To the knowledge of the Vendors no third party (i) infringes, nor has infringed in the three (3) year
period prior to Closing, any Intellectual Property of the Targets; (ii) is committing, nor has committed in the three (3) year
period prior to Closing, any misappropriation, passing off or actionable illegal acts in connection with the Intellectual Property of
the Targets.

 

		(d)	To the knowledge of the Vendors, the activities, products and services of the Targets: (i) have not
infringed, do not infringe and are not likely to infringe the Intellectual Property of any third party; (ii) have not constituted,
do not constitute and are not likely to constitute any breach of confidence, passing off or actionable act of unfair competition or other
illegal acts in connection with the Intellectual Property of a third party; and (iii) have not given and do not give rise to any
obligation to pay any royalty, fee, compensation or any other sum whatsoever
in connection with the Intellectual Property of a third party.

 

     

    - 23 -

    

 

		(e)	No other Person has the right to use any Intellectual Property owned by Targets. No Governmental Authority
has funded or contributed to the development of Intellectual Property of any Target.

 

		(f)	Each Target has taken all commercially reasonable steps (including measures to protect secrecy and confidentiality)
to protect its respective right, title and interest in its Intellectual Property, including, without limitation, by registering Intellectual
Property, by contractual means, by physical means and by electronic means. To the knowledge of the Vendor, there has been no unauthorized
disclosure of such Intellectual Property made in a manner that would prevent any Target or a successor in interest from obtaining a right
in respect of any such Intellectual Property that would otherwise be susceptible to obtain.

 

		3.1.37	Computer Systems and Software. The computer systems and software of the Targets or made available
to the Targets by means of cloud computing, including servers, personal computers and special purpose systems, websites, databases, telecommunications
equipment and facilities and other information technology systems, are fully operational, are adequate for the current needs of the Targets,
and members of the Targets may access at no cost at all times the documentation required for their operation, such documentation describing,
among other things, the operation and maintenance of all hardware, software, operating systems, applications and utilities. The Targets
are in full compliance with all terms and conditions stipulated by the licenses governing the computer systems and software used by Targets
in connection with the Business.

 

		3.1.38	Insurance

 

		(a)	Each Target maintains such policies of insurance, issued by responsible and reputable insurers, as is
appropriate adequate and sufficient for the conduct of business, in such amounts and covering such risks and with such deductibles as
are generally maintained by like businesses.

 

		(b)	Section 3.1.38 of the Disclosure Letter contains a complete and accurate list of all fidelity bonds
and insurance policies currently maintained by or for any Target, as well as all self-insurance arrangements (including reserves established
thereunder). Such policies and arrangements, including the coverage thereunder: (i) are in full force and effect; (ii) are sufficient
for compliance with all requirements of Law and all agreements to which any Target is a party. Complete and accurate copies of all such
policies and arrangements which the Vendors have in their possession have been delivered to the Purchaser.

 

     

    - 24 -

    

 

		(c)	No Target is in default under any provision of any such policy or arrangement and has not received notice
of cancellation or non-renewal of any such policy or arrangement, and no misstatement or misrepresentation has been made by any Target
in any application for any policy of insurance. There is no Claim by any Target pending under any of such policies or arrangements as
to which coverage has been questioned, denied or disputed by the underwriters or carriers of such policies and, to the knowledge of the
Vendors, there is no basis for denial of any claim under any such policy. All claims, occurrences, litigation and circumstances that could
lead to a Claim that would be covered by insurance policies of the Targets have been properly reported to and accepted by the applicable
insurer.

 

		(d)	The Vendors have no knowledge of any state of facts, or of the occurrence of any event, which the Vendors
know or have reason to believe might reasonably result in a material increase in insurance premiums of any Target. No Target has received
any notice from or on behalf of any insurance carrier issuing such policies that any policy will be amended or that any modification of
any of the methods of doing business by any Target, or any assets thereof, will be required or suggested.

 

		3.1.39	Warranties and Product Liability. Attached as Section 3.1.39 of the Disclosure Letter hereto
is a description of each express warranty, if any, given by each Target with respect to services sold during the past three (3) years
and the Purchaser has been provided with a complete and accurate copy of each such warranty. During such three (3) year period, there
has been no change in the policies of any Target relative to such warranties or returns and allowances.

 

		3.1.40	No Broker. Neither the Vendors nor any Target has any liability of any kind to any broker, intermediary,
agent or any similar Person for or on account of the transactions contemplated herein.

 

		3.1.41	Material Facts Disclosed. No representation or warranty in this Agreement or in any Closing Document
contains any untrue statement of a material fact and the representations and warranties contained in this Agreement and in any Closing
Document do not omit to state any material fact necessary to make any of the representations or warranties contained herein not misleading
to a prospective purchaser of the Purchased Shares seeking full information as to the Purchased Shares, the Targets, the Business and
their assets.

 

     

     

    

 

SCHEDULE 3.2

 

REPRESENTATIONS AND WARRANTIES OF THE PURCHASER

 

Representations in respect of the Purchaser

 

		3.2.1	Organization. The Purchaser has been duly constituted under all applicable Laws, is validly subsisting
and in good standing under the Laws of its jurisdiction of constitution. The Purchaser has full corporate or legal power and authority
to own and lease its properties and carry on its businesses as currently owned and carried on.

 

		3.2.2	Authority and No Violation

 

		(a)	The Purchaser has the requisite power and authority to enter into this Agreement and each Closing Document
to which it is a party and to perform its obligations hereunder and thereunder. The execution of this Agreement by the Purchaser and of
each Closing Document to which it is a party and the consummation by it of the transactions contemplated by this Agreement and each Closing
Document to which it is a party have been duly approved.

 

		(b)	This Agreement and each Closing Document to which the Purchaser is a party have been duly executed by
the Purchaser and constitute legal, valid and binding obligations, enforceable against it in accordance with their terms, subject to bankruptcy,
insolvency and other similar Laws affecting creditors’ rights generally.

 

		(c)	The approval of this Agreement and each Closing Document to which the Purchaser is a party, the execution
by the Purchaser of this Agreement and each Closing Document to which it is a party and the performance by the Purchaser of its obligations
hereunder and thereunder and the completion of the transactions contemplated herein and thereby, will not result in a violation of, default
under or breach of, require any consent to be obtained under or give rise to any termination rights by a third party, payment obligation
or rights of a third party under any provision of:

 

		(i)	the certificate of incorporation, articles, by-laws or other charter documents or any agreement with a
shareholder in respect of the Purchaser; or

 

		(ii)	any Laws.

 

     

     - 2 -

    

 

		3.2.3	Approvals and Consents. No sanction, ruling, consent, order, exemption, permit, declaration, filing,
waiver or other approval of any Governmental Authority or other Person is required to be obtained by the Purchaser in connection with
the execution and delivery of this Agreement or any Closing Documents to which it is a party or the consummation by the Purchaser of the
transactions contemplated hereby or thereby.

 

		3.2.4	Accredited Investor Status. The Purchaser is an “accredited investor” within the meaning
of National Instrument 45-106 – Prospectus and Registration Exemptions.

 

		3.2.5	Residency. The Purchaser is not a “non-resident” of Canada within the meaning of the
Tax Act.

 

		3.2.6	Targets’ Assets. Purchaser has, prior to the date of this Agreement, inspected the assets
of the Targets (including, without limitation, the Fixed Assets and the Real Properties). Subject to, and without limiting, the Purchaser’s
indemnification rights set forth in this Agreement, including with respect to the right to be indemnified for any Retained Liabilities,
the Purchaser acknowledges and agrees that no warranty or representation as to the condition of the assets of the Targets is given by
the Vendors or Targets or any Related Party, other than as set forth in Schedule 3.1.

 

		3.2.7	Employment Matters. Purchaser represents that it will enter into new employments agreements with
the Transferred Employees and undertakes to respect the current terms of employment of each of the Transferred Employees.

 

		3.2.8	Litigation. No Proceeding is pending or, to the Purchaser’s knowledge, threatened against
the Purchaser that may adversely affect its ability to enter into this Agreement, the Closing Documents or for the Purchaser to complete
the Purchase of the Purchased Shares and the assumption of the Assumed Liabilities, or the consummation by the Purchaser of the transactions
contemplated hereby or thereby.

 

     

     

    

 

SCHEDULE 4.6.1(A)

 

PRE-CLOSING REORGANIZATION

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}]]