Document:

Exhibit 4.1 

 

Alaia Capital, LLC 

 10 Corbin Drive 

 Darien, Connecticut 06820 

 June 20, 2017 

 Alaia Market Linked Trust, Series 1-3 

 Alaia Defined Outcome Solution 

 c/o The Bank of New York Mellon, as Trustee 

 2 Hanson Place, 12th Floor 

 Brooklyn, New York 11217 

	 Re: 	
 Alaia Defined Outcome Solution (the “Trust”) 

 Ladies and Gentlemen: 

 We have examined Amendment No. 2 to the Registration Statement (File No. 333-218110) for the above captioned Trust.  We hereby consent to the use in the Registration Statement of the references to Alaia Capital, LLC as evaluator. 

 You are hereby authorized to file a copy of this letter with the Securities and Exchange Commission. 

	
 

	
 Very truly yours, 

	
 

	
 

	
 

	
 

	
 

	   	
 Alaia Capital, LLC 

	   
	   	   	   	   
	   	
 By: 

	
 /s/  Oscar Loyanz 

	
 

	
 

	
 

	
 Name: Oscar Loyanz 

	
 

	
 

	
 

	
 Title:  Managing DirectorExhibit 4.2

 CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 

 We have issued our report dated June 20, 2017, with respect to the financial statement of Alaia Market Linked Trust Series 1-3, comprising the Alaia Defined Outcome Solution, contained in Amendment No. 1 to the Registration Statement on Form S-6 (File No. 333-218110) and related Prospectus. We consent to the use of the aforementioned report in the Registration Statement and Prospectus, and to the use of our name as it appears under the caption “Independent Registered Public Accounting Firm”. 

 /s/ GRANT THORNTON LLP 

 Chicago, Illinois 

 June 20, 2017Converted by EDGARwiz

ANTI-DILUTION AGREEMENT

 

THIS ANTI-DILUTION AGREEMENT (the “Agreement”) is dated as of February 22, 2017 and is by and among THE GREATER CANNABIS COMPANY, INC., a Florida corporation (the “Company” or “GCC”) and SYLIOS CORP, a Florida corporation (“Sylios”).

 

WHEREAS, Sylios and the Company are both parties to that certain Letter Agreement (“Letter”), dated February 2, 2017, which contemplates the execution and delivery of this Agreement by the parties hereto; and

WHEREAS, at the time of entry into the Letter, Sylios had filed with FINRA to spin-off 80.01% of the common shares of GCC to Sylios shareholders as of record of the close of business on February 3, 2017; and

WHEREAS, Sylios would retain a 19.99% equity stake in GCC through common shares.

 

NOW, THEREFORE, in consideration of the premises and the representations, warranties, covenants and agreements contained in this Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged (including, without limitation, the entering into the Letter dated February 2, 2017, by and between Sylios and GCC (which at the time was a wholly owned subsidiary of Sylios) the parties hereto hereby agree as follows:

 

SECTION 1. Additional Issuances.

 

(a) At any time after the date hereof, if the Company shall issue or propose to issue any additional shares of the Company’s common stock, par value, $0.001 per share (“Common Stock”), or warrants, options (excluding any options granted to employees of the Company in accordance with any employee plans, now or hereinafter in effect) or other rights or instruments of any kind convertible into or exercisable or exchangeable for shares of Common Stock (the “Additional Securities”), Sylios shall have the right to subscribe for and to purchase at the same price per share that number of Additional Securities necessary to maintain a Fully-Diluted Ownership Percentage (as defined herein below) in the Company equal to the lesser of: (i) Fully-Diluted Ownership Percentage of the Company on the date that a Subscription Notice (as defined below) is delivered to Sylios hereunder, and (ii) of 19.99% of the Company’s issued and outstanding Common Stock. Any offer of Additional Securities made to Sylios under this Section 1 shall be made by notice in writing (the “Subscription Notice”) at least 20 Business Days prior to the issuance of such Additional Securities. The Subscription Notice shall set forth (i) the number of Additional Securities proposed to be issued to any Person other than Sylios and the terms of such Additional Securities, (ii) the consideration (or manner of determining the consideration), if any, for which such Additional Securities are proposed to be issued and the terms of payment, (iii) the number of Additional Securities offered to Sylios in compliance with the provisions of this Section 1 and (iv) the proposed date of issuance of such Additional Securities. Not later than 5 Business Days after delivery of a Subscription Notice in accordance with the notice provisions hereof, Sylios shall deliver a notification to the Company in writing whether it elects to purchase all or any portion of the Additional Securities offered to Sylios, pursuant to the Subscription Notice; provided however, that the failure of Sylios to respond in writing within 5 Business Days shall be deemed a waiver and negative

election by Sylios to purchase any of the Additional Securities offered by such Subscription Notice. If Sylios elects to purchase any such additional Securities, the Additional Securities that it shall have elected to purchase shall be issued and sold to Sylios by the Company at the same time and on the same terms and conditions as the Additional Securities are issued and sold to third parties. If, for any reason, the issuance of Additional Securities to third parties is not consummated, Sylios’ right to its share of such issuance shall lapse, subject to Sylios’ ongoing subscription right with respect to issuances of Additional Securities at later dates or times.

 

(b) The Company represents and covenants to Sylios that (i) upon issuance, all the shares of Additional Securities sold to Sylios pursuant to this Section 1 shall be duly authorized, validly issued, fully paid and nonassessable and will be approved (if outstanding securities of the Company of the same type are at the time already approved) for listing on the OTC Pinksheets or for quotation or listing on the principal trading market for the securities of the Company at the time of issuance, (ii) upon delivery of such shares, they shall be free and clear of all liens, claims and encumbrances (other than any restrictions imposed by applicable federal, state and foreign securities laws of any nature and shall not be subject to any preemptive right of any stockholder of the Company and (iii) this Section 1 does not and upon the issuance of such Additional Securities will not (a) violate or conflict with any provision of the Articles of Incorporation or Bylaws of GCC, each as amended then to date (b) conflict with or 

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constitute a violation by GCC of any applicable law (including the General Corporation Law of Florida), judgment, order, injunction, decree, rule, regulation or ruling of any governmental authority applicable to GCC the enforcement of which would have a material adverse effect on GCC or on GCC’s ability to perform its obligations hereunder or the ability of GCC to consummate issuance of the Additional Securities and (c) either alone or with the giving of notice or the passage of time, or both, modify, violate, conflict with, constitute grounds for termination of, or accelerate the performance required by, or result in a breach or default of the terms, conditions or provisions of, or constitute a default under any contract, agreement, note bond, mortgage, indenture, deed of trust, license, franchise, permit, commitment, waiver, exemption, order, obligation, lease, sublease, undertaking, agreement, offer or other instrument, which violation, conflict, termination, acceleration, breach or default would have a material adverse effect on GCC or on the ability of GCC to perform its obligations hereunder or the ability of GCC to issue such shares.

 

(c) As used herein, the term “Business Day” shall mean any day other than a Saturday, Sunday, U.S. national legal holiday, or a legal holiday under the laws of the State of Florida or the United States of America, and the term “Person” shall mean an individual, corporation, partnership, joint venture, joint stock company, association, trust, business trust, unincorporated organization, government authority, or any other entity of whatever nature. As used herein, the term “Fully-Diluted Ownership Percentage” shall mean the percentage ownership calculated by dividing (i) the aggregate number of shares of Common Stock (including any shares of Common Stock issuable upon exercise or conversion of options, warrants or other securities or rights) beneficially owned (as such term is determined in accordance with the Rule 13d-3 promulgated under the Securities Exchange Act of 1934, as amended) by the applicable Person or Persons, howsoever and whenever acquired, by (ii) the aggregate number of all issued and outstanding shares of Common Stock of the Company (including any shares of Common Stock which are issuable upon exercise or conversion of options, warrants or other securities or rights within 60 days of the date on which such calculation is being made).

 

 

(d) If the Company, at any time while this Agreement is in force and effect, by reclassification of securities or otherwise (including, but not limited to, a “reincorporation,” merger with or into a wholly owned subsidiary of the Company, an exchange or stock swap or another type of reorganization or recapitalization), shall change or exchange its Common Stock into (or for) different securities of another class or classes or ceases to have common stock, then Sylios’ rights hereunder shall thereafter represent the right to acquire such number and kind of securities as would have been issuable as the result of such change with respect to the securities that were subject to the Agreement immediately prior to such reclassification or other change. All such adjustments shall be made so as to equitably adjust Sylios’ rights hereunder.

 

SECTION 2. Further Assurances. Each of the parties hereto agrees that, at any time and from time to time after the date hereof, it shall, upon written request from the other party hereto, and without further consideration, perform such other and further acts, and execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, such further instruments, documents and assurances as such other party reasonably may request for the purpose of carrying out this Agreement.

 

SECTION 3. Binding Agreement; Assignment. This Agreement is binding upon, will inure to the benefit of, and be enforceable by, the parties hereto and their respective heirs, successors and permitted assigns. Neither this Agreement nor any of the rights, interests or obligations under this Agreement shall be assigned, in whole or in part, by operation of law or otherwise by any of the parties hereto, without the prior written consent of the other party hereto.

 

SECTION 4. Entire Agreement; No Third-Party Beneficiaries. This Agreement constitutes the entire agreement and understanding of the parties hereto with respect to the subject matters hereof and thereof and supersedes any and all prior negotiations, agreements, arrangements and understandings between the parties, written or oral, relating to the matters provided for herein or therein. Except as expressly provided in this Agreement, nothing contained in this Agreement, express or implied, is intended to or shall confer on any Person other than the parties hereto and their heirs, successors and permitted assigns, any rights, benefits, remedies or claims under or by reason of this Agreement.

 

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SECTION 5. Amendment; Modification. This Agreement may not be amended or modified except by an instrument in writing signed by a duly authorized officer of each of the Company and Sylios.

 

SECTION 6. Extensions; Waivers; Remedies Cumulative.

 

(a) The conditions to each of the parties’ obligations to consummate this Agreement are for the sole benefit of such party and may be waived by such party in whole or in part to the extent permitted by applicable law. With regard to this Agreement, any party may (i) extend the time for the performance of any of the obligations or other acts of any other party with such first party, or (ii) waive compliance with any of the agreements of any party with such first party or with any conditions to its own obligations. Any agreement on the part of a party hereto to any such extension or waiver of any provision of this Agreement shall be valid and effective only if set forth in an instrument in writing signed on behalf of such party against whom enforcement of any waiver or consent is sought by such first party or a duly authorized officer thereof, if applicable.

 

(b) No failure or delay on the part of any party in exercising any right, privilege, power, or remedy under this Agreement, and no course of dealing among the parties, shall operate as a waiver of such right, privilege, power, or remedy, nor shall any single or partial exercise of any right, privilege, power, or remedy under this Agreement preclude any other or further exercise of such right, privilege, power, or remedy, or the exercise of any other right, privilege, power, or remedy. No notice to or demand on any party in any case shall entitle such party to any other or further notice or demand in any similar or other circumstances or constitute a waiver of the right of the party giving such notice or making such demand to take any other or further action in any circumstances without notice or demand.

 

SECTION 7. Section Headings; Interpretation. Reference in this Agreement to a Section unless otherwise indicated, shall constitute references to a Section or an Article of this Agreement. The section headings contained in this Agreement are for convenience of reference only and do not form a part thereof and shall not affect in any way the meaning or interpretation of this Agreement. The parties hereto agree that this Agreement is the product of negotiations among sophisticated parties, all of whom were represented by counsel, and each of whom had an opportunity to participate in, and did participate in the drafting of each provision hereto. Accordingly, ambiguities in this Agreement, if any, shall not be construed strictly against any party hereto but rather shall be given a fair and reasonable construction without regard to the rule of contra proferentem.

 

SECTION 8. Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Florida applicable to agreements made and to be performed entirely within the State of Florida without giving effect to the laws that might otherwise govern under applicable principles of conflict of laws thereof.

 

SECTION 9. Notices. Any notice, demand, claim, request, waiver or consent or other communication required or permitted to be given under the provisions of this Agreement shall be in writing and shall be deemed to have been duly delivered if delivered by any of the following means of delivery, and shall be deemed to have been duly delivered and received on the date (or the next Business Day if delivery is not made on a Business Day) of personal delivery or facsimile transmission or on the date (or the next Business Day if delivery is not made on a Business Day) of receipt, if mailed by registered or certified mail, postage prepaid and return receipt requested, or on the date (or the next Business Day if delivery is not made on a Business Day) of a stamped receipt, if sent by an overnight delivery service, and sent to the following addresses (or to such other address as any party may request, in the case of the Company, by notifying Sylios, and in the case of Sylios, by notifying the Company in each case in accordance with this Section):

 

				
	 

	(a)

	 

	If to the Company:

 

				
	 

	  

	 

	The Greater Cannabis Company, Inc.

				
	 

	  

	 

	P.O. Box 521

				
	 

	  

	 

	St. Petersburg, FL 33731

				
	 
	 
	 
	 

3

				
	 

	  

	 

	Attn: Wayne Anderson

				
	 

	  

	 

	Telephone: (727) 482-1505

				
	 

	  

	 

	E-mail: info@greatercannabiscompany.com

 

 

				
	 

	(b)

	 

	If to Sylios Corp:

 

				
	 

	  

	 

	Sylios Corp

				
	 

	  

	 

	244 2nd Ave N., Suite 9

				
	 

	  

	 

	St. Petersburg, FL 33701

				
	 

	  

	 

	Attn: Wayne Anderson

				
	 

	  

	 

	Telephone: (727) 482-1505

				
	 

	  

	 

	E-mail: info@sylios.com

 

 

 

SECTION 10. Consent to Jurisdiction. Each of the parties agrees to submit itself to the jurisdiction of any state or federal court sitting in the State of Florida. In addition, each of the parties hereto agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court, and that it will not bring any action relating to this Agreement or any of the transactions contemplated by this Agreement in any court other than such court.

 

SECTION 11. Severability. The parties agree that (i) the provisions of this Agreement shall be severable in the event that any of the provisions hereof are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable, (ii) they shall negotiate in good faith to replace any provisions that are finally determined to be invalid, void or otherwise unenforceable with other provisions that are as similar as possible in terms to such invalid, void or otherwise unenforceable provisions but are valid and enforceable, and (iii) the balance of this Agreement shall not be affected and shall remain enforceable to the fullest extent permitted by law. Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be valid and shall be enforced to the fullest extent permitted by law.

 

SECTION 12. Counterparts. This Agreement may be executed in one or more counterparts, each of which when executed and delivered shall be deemed an original, and all of which when taken together shall be considered one and the same instrument, and this Agreement shall become effective when such counterparts have been signed by each of the parties hereto and delivered to the other parties. The parties hereto agree that signatures of the parties and their duly authorized officers may be exchanged by facsimile transmission, and that such signatures shall be binding to the same extent, and have the same force and effect, as the exchange of original written signatures. The originals of such signatures shall be sent to the other parties hereto by overnight courier.

 

(Signature Page Follows)

 

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This Agreement has been duly executed by an authorized officer, by each of the following parties, as of the date first set forth above.

 

						
	THE GREATER CANNABIS COMPANY, INC.

	 

	

	

	

	 

	By:

	 

	  

	 

	   /s/ Wayne Anderson

	

	 

	 

	 

	Name:

	 

	 Wayne Anderson

	 

	 

	Title:

	 

	 President

	

	 

	SYLIOS CORP

	 

	

	

	

	 

	By:

	 

	

	 

	  /s/ Wayne Anderson

	

	 

	 

	 

	Name:

	 

	 Wayne Anderson

	 

	 

	Title:

	 

	 President

 ______________________

          

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