Document:

Exhibit 10.2

 

REGISTRATION RIGHTS AGREEMENT

 

REGISTRATION RIGHTS
AGREEMENT (this "Agreement"), dated as of August 14, 2020, by and between ODYSSEY GROUP INTERNATIONAL,
INC., a Nevada corporation (the "Company"), and LINCOLN PARK CAPITAL FUND, LLC, an
Illinois limited liability company (together with it permitted assigns, the “Buyer”). Capitalized
terms used herein and not otherwise defined herein shall have the respective meanings set forth in the Purchase Agreement by and
between the parties hereto, dated as of the date hereof (as amended, restated, supplemented or otherwise modified from time to
time, the "Purchase Agreement").

 

WHEREAS:

 

The Company has agreed,
upon the terms and subject to the conditions of the Purchase Agreement, to sell to the Buyer up to Ten Million Two Hundred Fifty
Dollars ($10,250,000) of Purchase Shares and to induce the Buyer to enter into the Purchase Agreement, the Company has agreed to
provide certain registration rights under the Securities Act of 1933, as amended, and the rules and regulations thereunder, or
any similar successor statute (collectively, the "Securities Act"), and applicable state securities laws.

 

NOW, THEREFORE,
in consideration of the promises and the mutual covenants contained herein and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Company and the Buyer hereby agree as follows:

 

1.       DEFINITIONS.

 

As used in this Agreement,
the following terms shall have the following meanings:

 

a.       "Investor"
means the Buyer, any transferee or assignee thereof to whom a Buyer assigns its rights under this Agreement in accordance with
Section 9 and who agrees to become bound by the provisions of this Agreement, and any transferee or assignee thereof to whom a
transferee or assignee assigns its rights under this Agreement in accordance with Section 9 and who agrees to become bound by the
provisions of this Agreement.

 

b.       "Person"
means any individual or entity including but not limited to any corporation, a limited liability company, an association, a partnership,
an organization, a business, an individual, a governmental or political subdivision thereof or a governmental agency.

 

c.       "Register,"
"registered," and "registration" refer to a registration effected by preparing and filing one
or more registration statements of the Company in compliance with the Securities Act and pursuant to Rule 415 under the Securities
Act or any successor rule providing for offering securities on a continuous basis ("Rule 415"), and the declaration
or ordering of effectiveness of such registration statement(s) by the United States Securities and Exchange Commission (the "SEC").

 

d.       "Registrable
Securities" means all of the Commitment Shares and all of the Purchase Shares, including, without limitation, all of the
Initial Purchase Shares, that may, from time to time, be issued or become issuable to the Investor under the Purchase Agreement
(without regard to any limitation or restriction on purchases), and any and all shares of capital stock issued or issuable with
respect to the Purchase Shares, the Commitment Shares or the Purchase Agreement as a result of any stock split, stock dividend,
recapitalization, exchange or similar event or otherwise, without regard to any limitation on purchases under the Purchase Agreement

 

e.       "Registration
Statement" means one or more registration statements of the Company covering only the sale of the Registrable Securities.

 

 

 

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2.       REGISTRATION.

 

a.       Mandatory
Registration. The Company shall, within twenty (20) Business Days after the date hereof, file with the SEC an initial Registration
Statement covering the maximum number of Registrable Securities as shall be permitted to be included thereon in accordance with
applicable SEC rules, regulations and interpretations so as to permit the resale of such Registrable Securities by the Investor
under Rule 415 under the Securities Act at then prevailing market prices (and not fixed prices), as mutually determined by both
the Company and the Investor in consultation with their respective legal counsel, subject to the aggregate number of authorized
shares of the Company’s Common Stock then available for issuance in its Certificate of Incorporation. The initial Registration
Statement shall register only the Registrable Securities. The Investor and its counsel shall have a reasonable opportunity to review
and comment upon such Registration Statement and any amendment or supplement to such Registration Statement and any related prospectus
prior to its filing with the SEC, and the Company shall give due consideration to all such comments. The Investor shall furnish
all information reasonably requested by the Company for inclusion therein. The Company shall use its reasonable best efforts to
have the Registration Statement and any amendment declared effective by the SEC at the earliest possible date. The Company shall
use reasonable best efforts to keep the Registration Statement effective pursuant to Rule 415 promulgated under the Securities
Act and available for the resale by the Investor of all of the Registrable Securities covered thereby at all times until the date
on which the Investor shall have resold all the Registrable Securities covered thereby and no Available Amount remains under the
Purchase Agreement (the "Registration Period"). The Registration Statement (including any amendments or supplements
thereto and prospectuses contained therein) shall not contain any untrue statement of a material fact or omit to state a material
fact required to be stated therein, or necessary to make the statements therein, in light of the circumstances in which they were
made, not misleading.

 

b.       Rule
424 Prospectus. The Company shall, as required by applicable securities regulations, from time to time file with the SEC, pursuant
to Rule 424 promulgated under the Securities Act, the prospectus and prospectus supplements, if any, to be used in connection with
sales of the Registrable Securities under the Registration Statement. The Investor and its counsel shall have a reasonable opportunity
to review and comment upon such prospectus prior to its filing with the SEC, and the Company shall give due consideration to all
such comments. The Investor shall use its reasonable best efforts to comment upon such prospectus within one (1) Business Day from
the date the Investor receives the substantially final pre-filing version of such prospectus.

 

c.       Sufficient
Number of Shares Registered. In the event the number of shares available under the Registration Statement is insufficient to
cover all of the Registrable Securities, the Company shall amend the Registration Statement or file a new Registration Statement
(a ”New Registration Statement”), so as to cover all of such Registrable Securities as soon as practicable,
but in any event not later than ten (10) Business Days after the necessity therefor arises, subject to any limits that may be imposed
by the SEC pursuant to Rule 415 under the Securities Act. The Company shall use its reasonable best efforts to cause such amendment
and/or New Registration Statement to become effective as soon as practicable following the filing thereof.

 

d.       Offering. If
the staff of the SEC (the “Staff”) or the SEC seeks to characterize any offering pursuant to a Registration
Statement filed pursuant to this Agreement as constituting an offering of securities that does not permit such Registration Statement
to become effective and be used for resales by the Investor under Rule 415 at then-prevailing market prices (and not fixed prices),
or if after the filing of the initial Registration Statement with the SEC pursuant to Section 2(a), the Company is otherwise required
by the Staff or the SEC to reduce the number of Registrable Securities included in such initial Registration Statement, then the
Company shall reduce the number of Registrable Securities to be included in such initial Registration Statement (after consulting
with the Investor and its legal counsel as to the specific Registrable Securities to be removed therefrom) until such time as the
Staff and the SEC shall so permit such Registration Statement to become effective and be used as aforesaid. In the event of any
reduction in Registrable Securities pursuant to this paragraph, the Company shall file one or more New Registration Statements
in accordance with Section 2(c) until such time as all Registrable Securities have been included in Registration Statements that
have been declared effective and the prospectus contained therein is available for use by the Investor. Notwithstanding any provision
herein or in the Purchase Agreement to the contrary, the Company’s obligations to register Registrable Securities (and any
related conditions to the Investor’s obligations) shall be qualified as necessary to comport with any requirement of the
SEC or the Staff as addressed in this Section 2(d).

 

 

 

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3.       RELATED
OBLIGATIONS.

 

With respect to the
Registration Statement and whenever any Registrable Securities are to be registered pursuant to Section 2 including on any New
Registration Statement, the Company shall use its reasonable best efforts to effect the registration of the Registrable Securities
in accordance with the intended method of disposition thereof and, pursuant thereto, the Company shall have the following obligations:

 

a.       The
Company shall prepare and file with the SEC such amendments (including post-effective amendments) and supplements to any registration
statement and the prospectus used in connection with such registration statement, which prospectus is to be filed pursuant to Rule
424 promulgated under the Securities Act, as may be necessary to keep the Registration Statement or any New Registration Statement
effective at all times during the Registration Period, and, during such period, comply with the provisions of the Securities Act
with respect to the disposition of all Registrable Securities of the Company covered by the Registration Statement or any New Registration
Statement until such time as all of such Registrable Securities shall have been disposed of in accordance with the intended methods
of disposition by the seller or sellers thereof as set forth in such registration statement.

 

b.       The
Company shall permit the Investor to review and comment upon the Registration Statement or any New Registration Statement and all
amendments and supplements thereto at least two (2) Business Days prior to their filing with the SEC. The Investor shall use its
reasonable best efforts to comment upon the Registration Statement or any New Registration Statement and any amendments or supplements
thereto within two (2) Business Days from the date the Investor receives the substantially final version thereof. The Company shall
furnish to the Investor, without charge any correspondence from the SEC or the staff of the SEC to the Company or its representatives
relating to the Registration Statement or any New Registration Statement.

 

c.       Upon
request of the Investor, the Company shall furnish to the Investor, (i) promptly after the same is prepared and filed with the
SEC, at least one copy of such registration statement and any amendment(s) thereto, including financial statements and schedules,
all documents incorporated therein by reference and all exhibits, (ii) upon the effectiveness of any registration statement, a
copy of the prospectus included in such registration statement and all amendments and supplements thereto (or such other number
of copies as the Investor may reasonably request) and (iii) such other documents, including copies of any preliminary or final
prospectus, as the Investor may reasonably request from time to time in order to facilitate the disposition of the Registrable
Securities owned by the Investor. For the avoidance of doubt, any filing available to the Investor via the SEC’s live EDGAR
system shall be deemed “furnished to the Investor” hereunder.

 

d.       The
Company shall use reasonable best efforts to (i) register and qualify the Registrable Securities covered by a registration statement
under such other securities or "blue sky" laws of such jurisdictions in the United States as the Investor reasonably
requests, (ii) prepare and file in those jurisdictions, such amendments (including post-effective amendments) and supplements to
such registrations and qualifications as may be necessary to maintain the effectiveness thereof during the Registration Period,
(iii) take such other actions as may be necessary to maintain such registrations and qualifications in effect at all times during
the Registration Period, and (iv) take all other actions reasonably necessary or advisable to qualify the Registrable Securities
for sale in such jurisdictions; provided, however, that the Company shall not be required in connection therewith or as a condition
thereto to (x) qualify to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section
3(d), (y) subject itself to general taxation in any such jurisdiction, or (z) file a general consent to service of process in any
such jurisdiction. The Company shall promptly notify the Investor who holds Registrable Securities of the receipt by the Company
of any notification with respect to the suspension of the registration or qualification of any of the Registrable Securities for
sale under the securities or "blue sky" laws of any jurisdiction in the United States or its receipt of actual notice
of the initiation or threatening of any proceeding for such purpose.

 

e.       As
promptly as practicable after becoming aware of such event or facts, the Company shall notify the Investor in writing of the happening
of any event or existence of such facts as a result of which the prospectus included in any registration statement, as then in
effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under which they were made, not misleading, and promptly prepare
a supplement or amendment to such registration statement to correct such untrue statement or omission, and deliver a copy of such
supplement or amendment to the Investor (or such other number of copies as the Investor may reasonably request). The Company shall
also promptly notify the Investor in writing (i) when a prospectus or any prospectus supplement or post-effective amendment has
been filed, and when a registration statement or any post-effective amendment has become effective (notification of such effectiveness
shall be delivered to the Investor by email or facsimile on the same day of such effectiveness and by overnight mail), (ii) of
any request by the SEC for amendments or supplements to any registration statement or related prospectus or related information,
and (iii) of the Company's reasonable determination that a post-effective amendment to a registration statement would be appropriate.

 

 

 

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f.       The
Company shall use its reasonable best efforts to prevent the issuance of any stop order or other suspension of effectiveness of
any registration statement, or the suspension of the qualification of any Registrable Securities for sale in any jurisdiction and,
if such an order or suspension is issued, to obtain the withdrawal of such order or suspension at the earliest possible moment
and to notify the Investor of the issuance of such order and the resolution thereof or its receipt of actual notice of the initiation
or threat of any proceeding for such purpose.

 

g.       The
Company shall (i) cause all the Registrable Securities to be listed on each securities exchange on which securities of the same
class or series issued by the Company are then listed, if any, if the listing of such Registrable Securities is then permitted
under the rules of such exchange, or (ii) secure designation and quotation of all the Registrable Securities on the Principal Market.
The Company shall pay all fees and expenses in connection with satisfying its obligation under this Section.

 

h.       The
Company shall cooperate with the Investor to facilitate the timely preparation and delivery of certificates (not bearing any restrictive
legend) representing the Registrable Securities to be offered pursuant to any registration statement and enable such certificates
to be in such denominations or amounts as the Investor may reasonably request and registered in such names as the Investor may
request.

 

i.       The
Company shall at all times provide a transfer agent and registrar with respect to its Common Stock.

 

j.       If
reasonably requested by the Investor, the Company shall (i) immediately incorporate in a prospectus supplement or post-effective
amendment such information as the Investor believes should be included therein relating to the sale and distribution of Registrable
Securities, including, without limitation, information with respect to the number of Registrable Securities being sold, the purchase
price being paid therefor and any other terms of the offering of the Registrable Securities; (ii) make all required filings of
such prospectus supplement or post-effective amendment as soon as practicable upon notification of the matters to be incorporated
in such prospectus supplement or post-effective amendment; and (iii) supplement or make amendments to any registration statement.

 

k.       The
Company shall use its reasonable best efforts to cause the Registrable Securities covered by any registration statement to be registered
with or approved by such other governmental agencies or authorities as may be necessary to consummate the disposition of such Registrable
Securities.

 

l.       Within
one (1) Business Day after any registration statement which includes the Registrable Securities is declared effective by the SEC,
the Company shall deliver, and shall cause legal counsel for the Company to deliver, to the transfer agent for such Registrable
Securities (with copies to the Investor) confirmation that such registration statement has been declared effective by the SEC in
the form attached hereto as Exhibit A. Thereafter, if requested by the Buyer at any time, the Company shall require its
counsel to deliver to the Buyer a written confirmation whether or not the effectiveness of such registration statement has lapsed
at any time for any reason (including, without limitation, the issuance of a stop order) and whether or not the registration statement
is current and available to the Buyer for sale of all of the Registrable Securities.

 

m.       The
Company shall take all other reasonable actions necessary to expedite and facilitate disposition by the Investor of Registrable
Securities pursuant to any registration statement.

 

4.       OBLIGATIONS
OF THE INVESTOR.

 

a.       The
Company shall notify the Investor in writing of the information the Company reasonably requires from the Investor in connection
with any registration statement hereunder. The Investor shall promptly furnish to the Company such information regarding itself,
the Registrable Securities held by it and the intended method of disposition of the Registrable Securities held by it as shall
be reasonably required to effect the registration of such Registrable Securities and shall execute such documents in connection
with such registration as the Company may reasonably request.

 

b.       The
Investor agrees to cooperate with the Company as reasonably requested by the Company in connection with the preparation and filing
of any registration statement hereunder.

 

 

 

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c.       The
Investor agrees that, upon receipt of any notice from the Company of the happening of any event or existence of facts of the kind
described in Section 3(f) or the first sentence of 3(e), the Investor will immediately discontinue disposition of Registrable Securities
pursuant to any registration statement(s) covering such Registrable Securities until the Investor's receipt of the copies of the
supplemented or amended prospectus contemplated by Section 3(f) or the first sentence of 3(e). Notwithstanding anything to the
contrary, the Company shall cause its transfer agent to promptly deliver shares of Common Stock without any restrictive legend
in accordance with the terms of the Purchase Agreement in connection with any sale of Registrable Securities with respect to which
an Investor has entered into a contract for sale prior to the Investor's receipt of a notice from the Company of the happening
of any event of the kind described in Section 3(f) or the first sentence of Section 3(e) and for which the Investor has not yet
settled.

 

5.       EXPENSES
OF REGISTRATION.

 

All reasonable expenses,
other than sales or brokerage commissions, incurred in connection with registrations, filings or qualifications pursuant to Sections
2 and 3, including, without limitation, all registration, listing and qualifications fees, printers and accounting fees, and fees
and disbursements of counsel for the Company, shall be paid by the Company.

 

6.       INDEMNIFICATION.

 

a.       To
the fullest extent permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend the Investor, each
Person, if any, who controls the Investor, the members, the directors, officers, partners, employees, agents, representatives of
the Investor and each Person, if any, who controls the Investor within the meaning of the Securities Act or the Securities Exchange
Act of 1934, as amended (the "Exchange Act") (each, an "Indemnified Person"), against any losses,
claims, damages, liabilities, judgments, fines, penalties, charges, costs, attorneys' fees, amounts paid in settlement or expenses,
joint or several, (collectively, "Claims") incurred in investigating, preparing or defending any action, claim,
suit, inquiry, proceeding, investigation or appeal taken from the foregoing by or before any court or governmental, administrative
or other regulatory agency, body or the SEC, whether pending or threatened, whether or not an indemnified party is or may be a
party thereto ("Indemnified Damages"), to which any of them may become subject insofar as such Claims (or actions
or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon: (i) any untrue statement or
alleged untrue statement of a material fact in the Registration Statement, any New Registration Statement or any post-effective
amendment thereto or in any filing made in connection with the qualification of the offering under the securities or other "blue
sky" laws of any jurisdiction in which Registrable Securities are offered ("Blue Sky Filing"), or the omission
or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading,
(ii) any untrue statement or alleged untrue statement of a material fact contained in the final prospectus (as amended or supplemented,
if the Company files any amendment thereof or supplement thereto with the SEC) or the omission or alleged omission to state therein
any material fact necessary to make the statements made therein, in light of the circumstances under which the statements therein
were made, not misleading, (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any
other law, including, without limitation, any state securities law, or any rule or regulation thereunder relating to the offer
or sale of the Registrable Securities pursuant to the Registration Statement or any New Registration Statement or (iv) any material
violation by the Company of this Agreement (the matters in the foregoing clauses (i) through (iv) being, collectively, "Violations").
The Company shall reimburse each Indemnified Person promptly as such expenses are incurred and are due and payable, for any reasonable
legal fees or other reasonable expenses incurred by them in connection with investigating or defending any such Claim. Notwithstanding
anything to the contrary contained herein, the indemnification agreement contained in this Section 6(a): (i) shall not apply to
a Claim by an Indemnified Person arising out of or based upon a Violation which occurs in reliance upon and in conformity with
information about the Investor furnished in writing to the Company by such Indemnified Person expressly for use in connection with
the preparation of the Registration Statement, any New Registration Statement or any such amendment thereof or supplement thereto,
if such prospectus was timely made available by the Company pursuant to Section 3(c) or Section 3(e); (ii) with respect to any
superseded prospectus, shall not inure to the benefit of any such person from whom the person asserting any such Claim purchased
the Registrable Securities that are the subject thereof (or to the benefit of any person controlling such person) if the untrue
statement or omission of material fact contained in the superseded prospectus was corrected in the revised prospectus, as then
amended or supplemented, if such revised prospectus was timely made available by the Company pursuant to Section 3(c) or Section
3(e), and the Indemnified Person was promptly advised in writing not to use the incorrect prospectus prior to the use giving rise
to a violation and such Indemnified Person, notwithstanding such advice, used it; (iii) shall not be available to the extent such
Claim is based on a failure of the Investor to deliver or to cause to be delivered the prospectus made available by the Company,
if such prospectus was timely made available by the Company pursuant to Section 3(c) or Section 3(e); and (iv) shall not apply
to amounts paid in settlement of any Claim if such settlement is effected without the prior written consent of the Company, which
consent shall not be unreasonably withheld. Such indemnity shall remain in full force and effect regardless of any investigation
made by or on behalf of the Indemnified Person and shall survive the transfer of the Registrable Securities by the Investor pursuant
to Section 9.

 

 

 

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b.       In
connection with the Registration Statement or any New Registration Statement, the Investor agrees to indemnify, hold harmless and
defend, to the same extent and in the same manner as is set forth in Section 6(a), the Company, each of its directors, each of
its officers who signs the Registration Statement or any New Registration Statement, each Person, if any, who controls the Company
within the meaning of the Securities Act or the Exchange Act (collectively and together with an Indemnified Person, an "Indemnified
Party"), against any Claim or Indemnified Damages to which any of them may become subject, under the Securities Act, the
Exchange Act or otherwise, insofar as such Claim or Indemnified Damages arise out of or are based upon any Violation, in each case
to the extent, and only to the extent, that such Violation occurs in reliance upon and in conformity with written information about
the Investor set forth on Exhibit B attached hereto and furnished to the Company by the Investor expressly for use in connection
with such registration statement; and, subject to Section 6(d), the Investor will reimburse any legal or other expenses reasonably
incurred by them in connection with investigating or defending any such Claim; provided, however, that the indemnity agreement
contained in this Section 6(b) and the agreement with respect to contribution contained in Section 7 shall not apply to amounts
paid in settlement of any Claim if such settlement is effected without the prior written consent of the Investor, which consent
shall not be unreasonably withheld; provided, further, however, that the Investor shall be liable under this Section 6(b) for only
that amount of a Claim or Indemnified Damages as does not exceed the net proceeds to the Investor as a result of the sale of Registrable
Securities pursuant to such registration statement. Such indemnity shall remain in full force and effect regardless of any investigation
made by or on behalf of such Indemnified Party and shall survive the transfer of the Registrable Securities by the Investor pursuant
to Section 9.

 

c.       Promptly
after receipt by an Indemnified Person or Indemnified Party under this Section 6 of notice of the commencement of any action or
proceeding (including any governmental action or proceeding) involving a Claim, such Indemnified Person or Indemnified Party shall,
if a Claim in respect thereof is to be made against any indemnifying party under this Section 6, deliver to the indemnifying party
a written notice of the commencement thereof, and the indemnifying party shall have the right to participate in, and, to the extent
the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume control of the defense
thereof with counsel mutually satisfactory to the indemnifying party and the Indemnified Person or the Indemnified Party, as the
case may be; provided, however, that an Indemnified Person or Indemnified Party shall have the right to retain its own counsel
with the fees and expenses to be paid by the indemnifying party, if, in the reasonable opinion of counsel retained by the indemnifying
party, the representation by such counsel of the Indemnified Person or Indemnified Party and the indemnifying party would be inappropriate
due to actual or potential differing interests between such Indemnified Person or Indemnified Party and any other party represented
by such counsel in such proceeding. The Indemnified Party or Indemnified Person shall cooperate fully with the indemnifying party
in connection with any negotiation or defense of any such action or claim by the indemnifying party and shall furnish to the indemnifying
party all information reasonably available to the Indemnified Party or Indemnified Person which relates to such action or claim.
The indemnifying party shall keep the Indemnified Party or Indemnified Person fully apprised at all times as to the status of the
defense or any settlement negotiations with respect thereto. No indemnifying party shall be liable for any settlement of any action,
claim or proceeding effected without its written consent, provided, however, that the indemnifying party shall not unreasonably
withhold, delay or condition its consent. No indemnifying party shall, without the consent of the Indemnified Party or Indemnified
Person, consent to entry of any judgment or enter into any settlement or other compromise which does not include as an unconditional
term thereof the giving by the claimant or plaintiff to such Indemnified Party or Indemnified Person of a release from all liability
in respect to such claim or litigation. Following indemnification as provided for hereunder, the indemnifying party shall be subrogated
to all rights of the Indemnified Party or Indemnified Person with respect to all third parties, firms or corporations relating
to the matter for which indemnification has been made. The failure to deliver written notice to the indemnifying party within a
reasonable time of the commencement of any such action shall not relieve such indemnifying party of any liability to the Indemnified
Person or Indemnified Party under this Section 6, except to the extent that the indemnifying party is prejudiced in its ability
to defend such action.

 

d.       The
indemnification required by this Section 6 shall be made by periodic payments of the amount thereof during the course of the investigation
or defense, as and when bills are received or Indemnified Damages are incurred.

 

e.       The
indemnity agreements contained herein shall be in addition to (i) any cause of action or similar right of the Indemnified Party
or Indemnified Person against the indemnifying party or others, and (ii) any liabilities the indemnifying party may be subject
to pursuant to the law.

 

 

 

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7.       CONTRIBUTION.

 

To the extent any indemnification
by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the maximum contribution with respect
to any amounts for which it would otherwise be liable under Section 6 to the fullest extent permitted by law; provided, however,
that: (i) no seller of Registrable Securities guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any seller of Registrable Securities who was not guilty of fraudulent misrepresentation;
and (ii) contribution by any seller of Registrable Securities shall be limited in amount to the net amount of proceeds received
by such seller from the sale of such Registrable Securities.

 

8.       REPORTS
AND DISCLOSURE UNDER THE SECURITIES ACTS.

 

With a view to making
available to the Investor the benefits of Rule 144 promulgated under the Securities Act or any other similar rule or regulation
of the SEC that may at any time permit the Investor to sell securities of the Company to the public without registration ("Rule
144"), the Company agrees, at the Company’s sole expense, to:

 

a.       make
and keep public information available, as those terms are understood and defined in Rule 144;

 

b.       file
with the SEC in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange
Act so long as the Company remains subject to such requirements and the filing of such reports and other documents is required
for the applicable provisions of Rule 144;

 

c.       furnish
to the Investor so long as the Investor owns Registrable Securities, promptly upon request, (i) a written statement by the Company
that it has complied with the reporting and or disclosure provisions of Rule 144, the Securities Act and the Exchange Act, (ii)
a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company,
and (iii) such other information as may be reasonably requested to permit the Investor to sell such securities pursuant to Rule
144 without registration; and

 

d.       take
such additional action as is requested by the Investor to enable the Investor to sell the Registrable Securities pursuant to Rule
144, including, without limitation, delivering all such legal opinions, consents, certificates, resolutions and instructions to
the Company’s Transfer Agent as may be requested from time to time by the Investor and otherwise fully cooperate with Investor
and Investor’s broker to effect such sale of securities pursuant to Rule 144.

 

The Company agrees that
damages may be an inadequate remedy for any breach of the terms and provisions of this Section 8 and that Investor shall, whether
or not it is pursuing any remedies at law, be entitled to equitable relief in the form of a preliminary or permanent injunctions,
without having to post any bond or other security, upon any breach or threatened breach of any such terms or provisions.

 

 9.        ASSIGNMENT OF REGISTRATION RIGHTS.

 

The Company shall not
assign this Agreement or any rights or obligations hereunder without the prior written consent of the Investor. The Investor may
not assign its rights under this Agreement without the written consent of the Company, other than to an affiliate of the Investor
controlled by Jonathan Cope or Josh Scheinfeld.

 

10.     AMENDMENT
OF REGISTRATION RIGHTS.

 

No provision of this
Agreement may be amended or waived by the parties from and after the date that is one Business Day immediately preceding the initial
filing of the Registration Statement with the SEC. Subject to the immediately preceding sentence, no provision of this Agreement
may be (i) amended other than by a written instrument signed by both parties hereto or (ii) waived other than in a written instrument
signed by the party against whom enforcement of such waiver is sought. Failure of any party to exercise any right or remedy under
this Agreement or otherwise, or delay by a party in exercising such right or remedy, shall not operate as a waiver thereof.

 

 

 

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11.     MISCELLANEOUS.

 

a.       A
Person is deemed to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such Registrable
Securities. If the Company receives conflicting instructions, notices or elections from two or more Persons with respect to the
same Registrable Securities, the Company shall act upon the basis of instructions, notice or election received from the registered
owner of such Registrable Securities.

 

b.       Any
notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must be
in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent
by facsimile or email (provided confirmation of transmission is mechanically or electronically generated and kept on file by the
sending party); or (iii) one (1) Business Day after deposit with a nationally recognized overnight delivery service, in each case
properly addressed to the party to receive the same. The addresses for such communications shall be:

 

	 	If to the Company:
	 	 	Odyssey Group International, Inc.
	 	 	2372 Morse Avenue
	 	 	Irvine, CA 92614
	 	 	Telephone:	(619) 832-2900
	 	 	E-mail:	michael@odysseygi.com
	 	 	Attention:	Michael Redmond,
President and CEO
	 	 	 	 

 

	 	With a copy to (which shall not
constitute notice or service of process):
	 	 	Troutman Pepper Hamilton Sanders
LLP
	 	 	400 Berwyn Park
	 	 	899 Cassatt Road
	 	 	Berwyn, PA 19312
	 	 	Telephone:	(610) 640-7853
	 	 	Facsimile:	(610) 640-7835
	 	 	Email:	scott.jones@troutman.com
	 	 	Attention:	Scott R. Jones,
Esq.

 

	 	If to the Investor:
	 	 	Lincoln Park Capital Fund, LLC
	 	 	440 North Wells, Suite 410
	 	 	Chicago, IL 60654
	 	 	Telephone:	312-822-9300
	 	 	Facsimile:	312-822-9301
	 	 	E-mail:	jscheinfeld@lpcfunds.com/jcope@lpcfunds.com
	 	 	Attention:	Josh Scheinfeld/Jonathan
Cope

 

	 	With a copy to (which
shall not constitute notice or service of process):
	 	 	Dorsey &
Whitney LLP
	 	 	51 West 52nd
Street
	 	 	New York,
NY 10019
	 	 	Telephone:	(212)
415-9214
	 	 	Facsimile:	(212) 953-7201
	 	 	E-mail:	marsico.anthony@dorsey.com
	 	 	Attention:	Anthony
J. Marsico, Esq.

 

 

 

    	 	8	 

     

    

 

or at such other address and/or facsimile
number and/or to the attention of such other person as the recipient party has specified by written notice given to each other
party three (3) Business Days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient
of such notice, consent, waiver or other communication, (B) mechanically or electronically generated by the sender's facsimile
machine or email account containing the time, date, recipient facsimile number or email address, as applicable, and an image of
the first page of such transmission or (C) provided by a nationally recognized overnight delivery service, shall be rebuttable
evidence of personal service, receipt by facsimile or receipt from a nationally recognized overnight delivery service in accordance
with clause (i), (ii) or (iii) above, respectively.

 

c.       The
corporate laws of the State of Nevada shall govern all issues concerning the relative rights of the Company and its stockholders.
All other questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by
the internal laws of the State of Illinois, without giving effect to any choice of law or conflict of law provision or rule (whether
of the State of Illinois or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than
the State of Illinois. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting
the State of Illinois, County of Cook, for the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought
in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives
personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof
to such party at the address for such notices to it under this Agreement and agrees that such service shall constitute good and
sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve
process in any manner permitted by law. If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction,
such invalidity or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement in that
jurisdiction or the validity or enforceability of any provision of this Agreement in any other jurisdiction. EACH PARTY HEREBY
IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER
OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

d.       This
Agreement and the Purchase Agreement constitute the entire agreement among the parties hereto with respect to the subject matter
hereof and thereof. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to
herein and therein. This Agreement and the Purchase Agreement supersede all prior agreements and understandings among the parties
hereto with respect to the subject matter hereof and thereof.

 

e.       Subject
to the requirements of Section 9, this Agreement shall inure to the benefit of and be binding upon the successors and permitted
assigns of each of the parties hereto.

 

f.       The
headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

 

g.       This
Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and
shall become effective when counterparts have been signed by each party and delivered to the other party; provided that a facsimile
signature or signature delivered by e-mail in a “.pdf” format data file, including any electronic signature complying
with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com, www.echosign.adobe.com, etc., shall be considered due execution
and shall be binding upon the signatory thereto with the same force and effect as if the signature were an original signature.

 

h.       Each
party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver
all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry
out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

i.       The
language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent and no rules
of strict construction will be applied against any party.

 

j.       This
Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns, and is not for
the benefit of, nor may any provision hereof be enforced by, any other Person.

 

 

 

* * * * * *

 

 

 

    	 	9	 

     

    

 

IN WITNESS WHEREOF,
the parties have caused this Registration Rights Agreement to be duly executed as of day and year first above written.

 

 

 

	 	THE COMPANY:
	 	 
	 	ODYSSEY GROUP INTERNATIONAL,
INC.
	 	 
	 	By:_/s/ J. Michael
Redmond____
	 	Name: Joseph Michael
Redmond
	 	Title: President
and CEO
	 	 
	 	 
	 	 
	 	BUYER:
	 	 
	 	LINCOLN PARK CAPITAL FUND, LLC
	 	

BY: LINCOLN
PARK CAPITAL, LLC

	 	BY: ROCKLEDGE
CAPITAL CORPORATION
	 	 
	 	 
	 	By:_/s/ Josh Scheinfeld________
	 	Name: Josh Scheinfeld
	 	Title: President

 

 

 

 

 

 

 

 

 

 

 

 

    	 	10	 

     

    

 

EXHIBIT A

 

TO REGISTRATION
RIGHTS AGREEMENT

 

FORM OF NOTICE OF EFFECTIVENESS

OF REGISTRATION STATEMENT

 

 

[Date]

 

[TRANSFER AGENT]

___________________

___________________

 

Re: [__________]

 

Ladies and Gentlemen:

 

We are counsel to
Odyssey Group International, Inc., a Nevada corporation (the “Company”), and have represented the Company in
connection with that certain Purchase Agreement, dated as of August 14, 2020 (the “Purchase Agreement”), entered
into by and between the Company and Lincoln Park Capital Fund, LLC (the “Buyer”), pursuant to which the Company
has issued to the Buyer an aggregate of 1,396,224 shares of the Company's common stock, $0.001 par value per share (the “Common
Stock”), and may in the future issue to the Buyer shares of Common Stock in an amount up to an additional Ten Million
Dollars ($10,000,000), in accordance with the terms of the Purchase Agreement. In connection with the transactions contemplated
by the Purchase Agreement, the Company has registered with the U.S. Securities and Exchange Commission (the “SEC”)
the following shares of Common Stock:

 

		(1)	602,422 shares of Common Stock that have been issued to the Buyer on the date of the Purchase
Agreement (the “Initial Purchase Shares”);

 

		(2)	[____________] shares of Common Stock to be issued to the Buyer upon purchase by the Buyer from
the Company from time to time in accordance with the terms of the Purchase Agreement (the “Purchase Shares”);
and

 

		(3)	793,802 shares of Common Stock that have been issued to the Buyer as a commitment fee on the date
of the Purchase Agreement (the “Commitment Shares”).

 

Pursuant to the Purchase
Agreement, the Company also has entered into a Registration Rights Agreement, dated as of August 14, 2020, with the Buyer (the
“Registration Rights Agreement”) pursuant to which the Company agreed, among other things, to register the Initial
Purchase Shares, the Purchase Shares, and the Commitment Shares under the Securities Act of 1933, as amended (the “Securities
Act”). In connection with the Company's obligations under the Purchase Agreement and the Registration Rights Agreement,
on [_________], 2020, the Company filed a Registration Statement (File No. 333-[_________]) (the “Registration Statement”)
with the SEC relating to the resale of the Initial Purchase Shares, the Purchase Shares and the Commitment Shares.

 

In connection with
the foregoing, we advise you that the SEC has entered an order declaring the Registration Statement effective under the Securities
Act at [_____] [A.M./P.M.] on [__________], 2020 and we have no knowledge, after review of the stop order notification website
maintained by the SEC, that any stop order suspending its effectiveness has been issued or that any proceedings for that purpose
are pending before, or threatened by, the SEC and the Initial Purchase Shares, the Purchase Shares and the Commitment Shares are
available for resale under the Securities Act pursuant to the Registration Statement and may be issued without any restrictive
legend or stop transfer orders maintained against them.

 

Very truly yours,

[Company Counsel]

 

 

By:____________________

 

 

cc:           Lincoln Park Capital Fund, LLC

 

 

 

    	 	11	 

     

    

 

 

EXHIBIT B

 

TO REGISTRATION RIGHTS AGREEMENT

 

Information About The Investor Furnished
To The Company By The Investor 

Expressly For Use In Connection With
The Registration Statement

 

 

Information With Respect to Lincoln
Park Capital

 

As of the date of the Purchase Agreement,
Lincoln Park Capital Fund, LLC, beneficially owned 1,396,224 shares of our common stock. Josh Scheinfeld and Jonathan Cope, the
Managing Members of Lincoln Park Capital, LLC, the manager of Lincoln Park Capital Fund, LLC, are deemed to be beneficial owners
of all of the shares of common stock owned by Lincoln Park Capital Fund, LLC. Messrs. Cope and Scheinfeld have shared voting and
investment power over the shares being offered under the prospectus filed with the SEC in connection with the transactions contemplated
under the Purchase Agreement. Lincoln Park Capital, LLC is not a licensed broker dealer or an affiliate of a licensed broker dealer.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	12SALE AND PURCHASE AGREEMENT

 

Exhibit 4.1

Dated 17 August 2020

CHINA NATURAL RESOURCES, INC.

as Purchaser

and

FEISHANG GROUP LIMITED

as Vendor

			
	 

	

SALE AND PURCHASE AGREEMENT

relating to

120,000,000 ordinary shares in

FEISHANG ANTHRACITE RESOURCES LIMITED

 

	 

 

THIS AGREEMENT is made on 17 August 2020

BETWEEN:

1.

China Natural Resources, Inc., a company incorporated in the British Virgin Islands with limited liability and listed on the NASDAQ Capital Market under the symbol “CHNR”, and whose registered office is at Sea Meadow House, Blackborne Highway, PO Box 116, Road Town, Tortola, British Virgin Islands (“Purchaser”); and

2.

Feishang Group Limited, a company incorporated in the British Virgin Islands with limited liability, whose registered office is at P.O. Box 3444, Road Town, Tortola, the British Virgin Islands (“Vendor”).

WHEREAS:

(A)

The Company (as defined below) is a company incorporated in the British Virgin Islands with limited liability and listed on the SEHK (as defined below). At the date of this Agreement, the Company has issued 1,380,545,800 Shares (as defined below).

(B)

At the date of this Agreement, the Vendor holds 724,029,650 Shares (as defined below), representing approximately 52.44% of the issued share capital of the Company.

(C)

The Vendor has agreed to sell, and the Purchaser has agreed to buy, the Sale Shares (as defined below) upon the terms and conditions of this Agreement.

NOW IT IS HEREBY AGREED as follows:-

1.

INTERPRETATION

1.1

In this Agreement the following expressions have the following meanings:-

			
	 
	“Applicable Laws”

	any constitutions, enactments, ordinances, regulations, orders, notices, judgments, common law, treaties and any other legislations or laws of any relevant jurisdictions;

	 
	“Business Day”

	a day on which the SEHK is open for the transaction of business;

1

 

			
	 
	“Company”

	Feishang Anthracite Resources Limited, a company incorporated in the British Virgin Islands with limited liability with its registered office at Kingston Chambers, P.O. Box 173, Road Town, Tortola, British Virgin Islands, and listed on the SEHK (stock code: 1738);

	 
	“Completion”

	the completion of the sale and purchase of the Sale Shares in accordance with this Agreement;

	 
	“Completion Date”

	the Business Day after the last outstanding Condition (other than the Conditions which can only be fulfilled upon Completion) shall have been fulfilled or waived (or such other date agreed by the Purchaser and the Vendor in writing) on which Completion is to take place or such other date as the parties hereto may agree;

	 
	“Conditions”

	the conditions referred to in Clause 4.1, Clause 5.2 and Clause 5.3;

	 
	“Consideration CHNR Shares”

	has the meaning ascribed to it under Clause 5.3.1;

	 
	“Encumbrance”

	a mortgage, charge, pledge, lien, option, restriction, right of first refusal, right of pre-emption, third-party right or interest, other encumbrance or security interest of any kind, or another type of preferential arrangement (including, without limitation, a title transfer or retention arrangement) having similar effect;

	 
	“Hong Kong”

	the Hong Kong Special Administrative Region of the People's Republic of China;

	 
	“HK$”

	Hong Kong Dollars;

	 
	“Listing Rules”

	The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited;

	 
	“Long Stop Date”

	21 September 2020, or another date as agreed by the Parties in writing;

	 
	“Sale Shares”

	the 120,000,000 Shares held by the Vendor;

	 
	“SEHK”

	The Stock Exchange of Hong Kong Limited; 

	 
	“SFC”

	The Securities and Futures Commission;

	 
	“Shareholder”

	the holders of Shares;

2

 

			
	 
	“Share”

	An ordinary share with a par value of HK$0.001 each in the capital of the Company in issue from time to time;

	 
	“Tax” or “Taxation”

	(1)

any form of tax whenever created or imposed and whether of Hong Kong, the United States or elsewhere, payable to or imposed by any taxation authority and includes, without limitation, profits tax, provisional profits tax, interest tax, salaries tax, property tax, land appreciation tax, taxes on income, estate duty, capital duty, stamp duty, payroll tax and other similar liabilities or contributions and any other taxes, levies, duties, charges, imposts, social security contributions, rates or withholdings similar to, corresponding with, or replacing or replaced by any of the foregoing and including an amount equal to any deprivation of any relief from taxation; and

(2)

all charges, interests, penalties and fines, incidental or relating to any Taxation falling within (1) above;

	 
	“Total Share Consideration”

	has the meaning ascribed to it under Clause 3.1;

	 
	“Warranties”

	the warranties and representations made by the Vendor in Clause 6 and “Warranty” means any one of them; 

	 
	“Warranty Expiry Date”

	shall have the meaning ascribed in Clause 6.5; and

	 
	“%”

	per cent.

3

 

1.2

In this Agreement:-

1.2.1

references to “Clauses”, “Recitals” and “Schedules”, unless the context otherwise requires, are references to clauses, recitals and schedules to this Agreement; and

1.2.2

a reference to a “party”, unless the context otherwise requires, is a reference to a party to this Agreement.

1.3

Headings in this Agreement are for ease of reference only and shall not affect the interpretation or construction of this Agreement.

2.

SALE AND PURCHASE

The Vendor agrees to sell as beneficial owner, and the Purchaser agrees to purchase, the Sale Shares and each right attaching to such shares at or after the date of this Agreement, free of all Encumbrances.

3.

CONSIDERATION

3.1

The aggregate consideration payable for the Sale Shares (“Total Share Consideration”) shall be HK$87,522,000.

3.2

The Total Share Consideration shall be payable by the Purchaser to the Vendor upon Completion. 

4.

CONDITIONS PRECEDENT

4.1

Completion of this Agreement is conditional upon:

4.1.1

the passing of the necessary resolutions by the Purchaser approving this Agreement and all other transactions contemplated hereunder and the granting of such regulatory approvals as may be necessary, including without limitation in accordance with the Listing Rules and other Applicable Laws;

4.1.2

the representation, warranties and/or undertakings given by the Vendor under this Agreement shall remain true, accurate and not misleading throughout the period from the date of this Agreement to the Completion Date, and there having been no breach by any party of this Agreement; and

4.1.3

(if required) all requisite waivers, consents and approvals from any relevant governments or regulatory authorities or other relevant third parties in connection with the transactions contemplated by this 

4

 

Agreement required to be obtained on the part of the Purchaser having been obtained.

4.2

In the event that the conditions set out in Clause 4.1 shall not have been fulfilled (or waived in accordance with the terms of this Agreement) at or before 12:00 noon (Hong Kong time) on the Long Stop Date, this Agreement shall lapse and be of no further effect (save for Clauses 5, 7, 8, 9, 10 and 11) which shall continue to take effect), and no party to this Agreement shall have any liability and obligation to the other parties, save in respect of any antecedent breaches of this Agreement.

5.

COMPLETION

5.1

Subject to fulfilment of all the conditions set out in Clause 4.1 or the effective waiver thereof in accordance with the terms of this Agreement, Completion shall take place at or before 4:00 p.m. (Hong Kong time) on the Completion Date at such place as shall be agreed by the parties hereto when all of the business required under Clause 5 shall be transacted.

5.2

The Vendor shall deliver or cause to be delivered to the Purchaser:

5.2.1

in respect of the Sale Shares, duly executed instrument(s) of transfer and the related sold notes in respect of all such Sale Shares in favour of the Purchaser and/or such nominee(s) as the Purchaser may designate, such waivers or consents (if any) as the Purchaser may require to be signed by the Vendor to enable the Purchaser and/or its nominee(s) to be registered as a holder or holders of the Sale Shares;

5.2.2

the original certificate(s) for the Sale Shares;

5.2.3

contract notes (a) duly executed by (i) the Vendor as transferor and (ii) the Purchaser as transferee in respect of the Sale Shares and (b) duly stamped;

5.2.4

a copy, certified as true and complete by a director of the Vendor, of the minutes of meeting or written resolutions of the board of directors of the Vendor approving, among other matters, this Agreement and the transactions contemplated thereby and authorising the execution (under seal, if required) by any of the Vendor’s directors of the said documents and other documents ancillary thereto.

5.3

Upon performance of all the obligations of the Vendor contained in Clauses 5.2, the Purchaser shall: 

5.3.1

arrange for payment of the Total Share Consideration to the Vendor:

5

 

(a) by way of allotment to the Vendor of 9,077,166 fully paid-up common shares duly issued by the Purchaser (“Consideration CHNR Shares”) with restriction thereon by a legend similar in effect to the following “THE SECURITIES REFERENCED HEREIN HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR QUALIFIED UNDER THE SECURITIES LAWS OF ANY STATE.  THESE SECURITIES MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR OR QUALIFICATION OF THE SECURITIES UNDER APPLICABLE SECURITIES LAWS OR UNLESS SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED, TRANSFERRED OR ASSIGNED PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THOSE LAWS.  THE COMPANY SHALL BE ENTITLED TO REQUIRE AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED PRIOR TO ANY SALE, OFFER FOR SALE, PLEDGE, HYPOTHECATION, TRANSFER OR ASSIGNMENT OF THE SECURITIES.”; 

(b) by means of updating the Purchaser’s register of members to record and give effect to such allotment and issuance of Consideration CHNR Shares and their registration in the name of the Vendor; and 

(c) by delivering to the Vendor an undertaking in writing certifying that the obligations in sub-paragraph (a) and (b) above have been fulfilled and that the following documents will be delivered to the Vendor as post-Completion obligations as soon as practicable after Completion: (i) a certified true copy of the updated register of members of the Purchaser; and where the Vendor requires (ii) share certificate(s) in respect of the Consideration CHNR Shares.

5.3.2

deliver a certified true copy of the board resolutions of the Purchaser (certified as a true and complete copy by a director of the Purchaser) approving this Agreement and authorising one or more person(s) to execute and deliver this Agreement on its behalf (and to affix the common seal thereon, if applicable).

5.4

No party hereto shall be obliged to complete this Agreement or perform any obligations hereunder unless the other party complies fully with the requirements of Clauses 5.2 to 5.3.  Notwithstanding the foregoing, the parties acknowledge that stamping of the contract notes referred to in Clause 5.2.3 in 

6

 

respect of one party may, at the sole discretion of the other party, be waived at Completion and designated as a post-Completion obligation. 

5.5

In the event that the Completion cannot take place due to the default of the defaulting party, such defaulting party shall bear all the professional fees, expenses and/or costs in connection with the transactions contemplated under this Agreement incurred by the non-defaulting party and shall settle such fees, expenses and/or costs within 10 Business Days from the date of termination of this Agreement.

6.

REPRESENTATIONS, WARRANTIES AND UNDERTAKINGS

6.1

The Vendor represents and warrants to the Purchaser that it has the legal right, full power, legal capacity and authority, and has obtained all necessary approvals, to enter into this Agreement and any other documents to be executed by such pursuant to or in connection with this Agreement and to exercise its rights and perform its obligations hereunder, and this Agreement and the said documents when signed shall constitute legal, valid and binding obligations on the Vendor and enforceable in accordance with their terms.

6.2

The Vendor represents and warrants to the Purchaser that upon Completion, the Sale Shares sold by the Vendor shall be fully paid up and are legally and beneficially owned by it, and it has the power, authority, legal capacity and has obtained authorisation to sell and transfer the Sale Shares to be sold by it, and that the Sale Shares to be sold by it shall be free from Encumbrances with all rights attached thereto on the Completion Date.

6.3

If, after the signing of this Agreement and before Completion, any event shall occur or matter shall arise which results or may result in any of the Warranties being untrue, misleading or inaccurate in any respect, the Vendor giving such Warranty shall immediately notify the Purchaser in writing thereof prior to Completion.

6.4

The total aggregate liability of the Vendor for any claim or claims of breaches under this Agreement (excluding other legal and other costs and expenses) shall not in any event exceed an amount equals to the Total Share Consideration.

6.5

No claim may be brought against the Vendor in respect of a breach of any of the Warranties after expiration of a period of six months from the Completion Date (“Warranty Expiry Date") and the Vendor shall not be liable in respect of a breach of any of the Warranties unless it shall have received written notice from the Purchaser prior to the Warranty Expiry Date giving reasonable details of the relevant claim and any such claim shall (if not previously 

7

 

satisfied, settled or withdrawn) be deemed to have been waived or withdrawn at the expiry of a period of six months after the Warranty Expiry Date unless proceedings in respect thereof shall have already been commenced against the Vendor.

6.6

No claim shall lie against the Vendor (under or in relation to the Warranties or any provision of this Agreement) or to the extent that such claim is attributable to any voluntary act, omission, transaction, or arrangement carried out directly by the Purchaser or on its behalf or by persons deriving title from any of the Purchaser after the Completion.

6.7

The Vendor represents and warrants that, in entering into this Agreement: (i) it is not in possession of any inside information relating to the Company; (ii) it has not communicated, disseminated, relayed or disclosed any inside information relating to the Company, any shares of the Company, any directors or officers of the Company or any substantial shareholders of the Company; and (iii) it is not in breach or violation of, and has not engaged in any acts, omissions or conduct which may cause it or the Purchaser to be in breach or violation of, any Applicable Laws, including any provisions of Parts XIII or XIV of the Securities and Futures Ordinance (Cap. 571 of the laws of Hong Kong).

7.

CONFIDENTIALITY AND ANNOUNCEMENT

7.1

For the purpose of this Clause 7 “Confidential Information” means all information received or obtained as a result of entering into or performing, or supplied by or on behalf of a party in the negotiations leading to this Agreement and which relates to:

7.1.1

the Group or any of its members;

7.1.2

the provisions this Agreement;

7.1.3

the negotiations relating to this Agreement; or

7.1.4

the subject matter of this Agreement.

7.2

Each party (“Receiving Party”) hereby undertakes to each other party (“Disclosing Party”), both during and after the term or termination of this Agreement, to preserve the confidentiality of, and not directly or indirectly reveal, report, publish, disclose or transfer or use the Confidential Information for its own or any purposes other than for the sole purpose of the transactions or matters contemplated in this Agreement except:

7.2.1

under the circumstances set out in Clause 7.3; or

8

 

7.2.2

to the extent otherwise expressly permitted by this Agreement; or

7.2.3

with the prior written consent of the Disclosing Party and the party to whose affairs such Confidential Information relates; or

7.2.4

under the provisions set out in Clause 7.4.

7.3

The circumstances referred to in Clause 7.2.1 above are:

7.3.1

where the Confidential Information, before it is furnished to the Receiving Party, is in the public domain; or

7.3.2

where the Confidential Information, after it is furnished to the Receiving Party, enters the public domain otherwise than as a result of a breach by the Receiving Party of its obligations in this Clause 7; or

7.3.3

if and to the extent the Receiving Party makes disclosure of the Confidential Information to any person:

(i)

in compliance with any requirement of law;

(ii)

in response to any applicable regulatory authority to which it is subject where such requirement has the force of law; or

(iii)

in order to obtain tax or other clearances or consents from any relevant taxing or regulatory authorities; or

7.3.4

where the Company is required to disclose the Confidential Information or make public announcements in respect of this Agreement as required by the SEHK or the SFC or under the Listing Rules. 

7.4

The Receiving Party is allowed to provide the Confidential Information to those of the employees, directors, officers, accountants and attorneys (collectively, the “Related Parties” for the purpose of this Clause 7) of the Receiving Party who need to know the same for the sole purpose of the transactions or matters contemplated in this Agreement and who also have been informed of the confidential nature of the Confidential Information and have been directed to hold such information in strict confidence and to use such information solely for the purposes permitted hereunder.

7.5

The Receiving Party agrees that it will procure its Related Parties who will have access to the Confidential Information at any time (whether during the term or after the termination of this Agreement) to refrain from:

9

 

7.5.1

using any Confidential Information for any purposes other than in connection with the transaction or matters contemplated in this Agreement; and

7.5.2

disclosing any Confidential Information to any person other than the Receiving Party and those of the Receiving Party’s Related Parties permitted to have access to Confidential Information as provided above, and any such use or disclosure shall be at all times and in all events on the terms of and in compliance with the restrictions of this Clause 7.

Each party agrees to be responsible for the compliance by its Related Parties under this Clause 7.

7.6

The restrictions contained in this Clause 7 shall continue to apply after the termination of this Agreement without limit in time.

7.7

The damage that a Disclosing Party will suffer in the event that a Receiving Party breaches any covenant or agreement contained in this Clause 7 cannot be compensated by monetary damages alone, and the Receiving Party therefore agrees that the Disclosing Party, in addition to any other remedies or rights which it may have either under this Agreement or otherwise, shall have the right to obtain an injunction against the Receiving Party or any other appropriate form of equitable relief from any court of competent jurisdiction, enjoining any such breach.

7.8

Notwithstanding anything to the contrary in this Agreement, each of the parties hereto acknowledges that the other party and/or the Company may disclose any Confidential Information for purposes of compliance with the Listing Rules and relevant laws and regulations which include, but is not limited to, publication of announcement, filing of relevant disclosure of interests forms, and compliance with any applicable requirements of the NASDAQ Capital Market.

8.

GENERAL

8.1

This Agreement shall be binding on and shall enure for the benefit of each party's successors and assigns, but no party may assign any of its rights or obligations hereunder without the prior written consent of the other party.

8.2

Time shall be of the essence of this Agreement.

8.3

The failure to exercise, or any delay in exercising, a right or remedy provided by this Agreement or by law shall not impair or constitute a waiver of such right or remedy or an impairment of or a waiver of any other right or remedy.

10

 

8.4

The Vendor will bear all the legal and professional fees, costs and expenses (including those incurred by the Purchaser) incurred in connection with the negotiation and preparation of this Agreement.

8.5

All stamp duty payable in connection with the sale and purchase of the Sale Shares shall be borne by the Vendor and the Purchaser respectively in accordance with its respective portion as vendor and purchaser.

8.6

This Agreement may be signed in any number of counterparts, each of which shall be binding on the party who shall have executed it and which together shall constitute but one agreement.

8.7

This Agreement sets forth the entire agreement and understanding between the parties in relation to the Company and the subject matter of this Agreement and supersedes all previous agreements, letters of intent, correspondence, understandings, agreements and undertakings (if any) between the parties with respect to the Company and the subject matter hereof, whether written or oral.

8.8

All provisions of this Agreement shall so far as they are capable of being performed or observed continue in full force and effect notwithstanding Completion except in respect of those matters then already performed.

8.9

Save as required by law or any relevant stock exchange or pursuant to any applicable listing rules, no press or other announcement shall be made in connection with the subject matter of this Agreement by any party without the prior approval of the other.  

8.10

The invalidity, illegality or unenforceability of any provision of this Agreement shall not affect or impair the continuation in force of the other provisions of this Agreement.

8.11

Except to the extent required by applicable law or applicable listing rules, or by any regulatory authority or stock exchange, no party shall (and shall procure that none of its directors, employees, independent contractors or subsidiaries shall) at any time disclose to any person (other than professional advisers who are subject to obligations of confidentiality) the terms of this Agreement or any trade secret or other confidential information relating to the Company or the parties, or make any use of such information other than to the extent necessary for the purpose of exercising or performing its rights and obligations under this Agreement.

9.

NOTICES

9.1

Any notice or other communication under or in connection with this Agreement shall be in writing and shall be left at or sent by pre-paid registered 

11

 

airmail or facsimile transmission to the respective addresses set out below or to such other address and/or number as may have been last notified in writing by such party to the other.

To the Purchaser:

Address:

Room 2205, 22/F, West Tower, Shun Tak Centre, 200 Connaught Road Central, Sheung Wan, Hong Kong

Attention:

WONG Wah On Edward 

Facsimile:

852-28106963

To the Vendor:

Address:

Room 2205, 22/F, West Tower, Shun Tak Centre, 200 Connaught Road Central, Sheung Wan, Hong Kong

Attention:

LI Feilie

Facsimile: 

852-28106963

9.2

A notice delivered personally shall be deemed to be received when delivered and any notice sent by pre-paid recorded delivery post shall be deemed (in the absence of evidence of earlier receipt) to be received two days after posting (six days if sent by airmail) and in proving the time of despatch it shall be sufficient to show that the envelope containing such notice was properly addressed, stamped and posted.  A notice sent by facsimile transmission shall be deemed to have been received when confirmation of successful transmission has been recorded by the sender's facsimile machine.

9.3

The Vendor hereby irrevocably appoints the Company whose principal place of business in Hong Kong is at Room 2205, Shun Tak Centre, 200 Connaught Road Central, Hong Kong as its service agent to receive and acknowledge on its behalf service of any notice, writ, summons, order, judgment or communication in relation to this Agreement and further agrees that any such legal process or notice shall be sufficiently served on it if delivered during normal office hours to such agent for service at its address for the time being in Hong Kong.

9.4

The Purchaser hereby irrevocably appoints the Company whose principal place of business in Hong Kong is at Room 2205, Shun Tak Centre, 200 Connaught Road Central, Hong Kong as its service agent to receive and acknowledge on its behalf service of any notice, writ, summons, order, judgment or communication in relation to this Agreement and further agrees that any such 

12

 

legal process or notice shall be sufficiently served on it if delivered during normal office hours to such agent for service at its address for the time being in Hong Kong.

10.

THIRD PARTY RIGHTS

A person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties) Ordinance (Chapter 623 of the Laws of Hong Kong) to enforce or to enjoy the benefit of any term of this Agreement.

11.

GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of Hong Kong, and the parties hereby submit to the non-exclusive jurisdiction of the courts of Hong Kong in respect of all matters arising in connection with this Agreement.

[The rest of the page is left blank intentionally]

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

Purchaser

			
	SIGNED by WONG Wah On Edward

	)

	/s/ WONG Wah On Edward

	for and on behalf of

	)

	 

	CHINA NATURAL RESOURCES, INC.

	)

	 

	in the presence of: YUE Ming Wai Bonaventure-

	)

	/s/ YUE Ming Wai Bonaventure

Vendor

			
	SIGNED by LI Feilie

	)

	/s/ LI Felie

	for and on behalf of

	)

	 

	FEISHANG GROUP LIMITED

	)

	 

	in the presence of: ZHENG Xinyi-  

	)

	/s/ ZHENG Xinyi

[Execution Page to Sale and Purchase Agreement]

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