Document:

ex-4.1

  Exhibit 4.1
  
 DESCRIPTION OF THE REGISTRANT’S SECURITIES
 REGISTERED PURSUANT TO SECTION 12 OF THE
 SECURITIES EXCHANGE ACT OF 1934
  
 Bullfrog Gold Corp. (the “Company”) has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended, which is the Company’s common stock, $0.0001 par value per share.
  
 Description of Common Stock
  
 The authorized capital stock of the Company consists of 750,000,000 shares of common stock at a par value of $0.0001 per share, and 250,000,000 shares of preferred stock, par value $0.0001.
  
 Holders of the Company’s common stock are entitled to one vote for each share on all matters submitted to a stockholder vote. Holders of common stock do not have cumulative voting rights.  Therefore, subject to the rights of any outstanding preferred stock, holders of a majority of the shares of common stock voting for the election of directors can elect all of the directors. Holders of the Company’s common stock representing a majority of the voting power of the Company’s capital stock issued, outstanding and entitled to vote, represented in person or by proxy, are necessary to constitute a quorum at any meeting of stockholders. A vote by the holders of a majority of the Company’s outstanding shares is required to effectuate certain fundamental corporate changes such as merger or an amendment to the Company’s certificate of incorporation.
  
 Holders of the Company’s common stock are entitled to share in all dividends that the board of directors, in its discretion, declares from legally available funds. In the event of a liquidation, dissolution or winding up, each outstanding share entitles its holder to participate pro rata in all assets that remain after payment of liabilities and after providing for each class of stock, if any, having preference over the common stock. The Company’s common stock has no pre-emptive rights, no conversion rights and there are no redemption provisions applicable to the Company’s common stock.Exhibit 4.4

 

DESCRIPTION
OF THE REGISTRANT’S SECURITIES

REGISTERED
PURSUANT TO SECTION 12 OF THE SECURITIES

EXCHANGE
ACT OF 1934

 

The
descriptions of the securities contained herein summarize the material terms and provisions of the ordinary shares of Intec Pharma
Ltd., registered under Section 12 of the Securities Exchange Act of 1934.

 

General

 

The
following are summaries of material provisions of our articles of association and the Israeli Companies Law 5759-1999, or the
Companies Law, insofar as they relate to the material terms of our ordinary shares.

 

As of December 31, 2019, our authorized share capital consists
of 100,000,000 ordinary shares, no par value, of which 35,892,209 ordinary shares were issued and outstanding. All of our outstanding
ordinary shares are validly issued, fully paid and non-assessable. Our ordinary shares are not redeemable and do not have any
preemptive rights.

 

Holders
of our ordinary shares have one vote for each ordinary share held on all matters submitted to a vote of shareholders at a shareholder
meeting. Because our ordinary shares do not have cumulative voting rights in the election of directors, the holders of a majority
of the voting power represented at a shareholders meeting have the power to elect all of our directors, subject to the special
approval requirements for external directors (if applicable). Shareholders may vote at shareholder meetings either in person,
by proxy or by written ballot. The Companies Law does not allow public companies to adopt shareholder resolutions by means of
written consent in lieu of a shareholder meeting. The board of directors shall determine and provide a record date for each shareholders
meeting and all shareholders at such record date may vote. Unless stipulated differently in the Companies Law or in our articles
of association, all shareholders’ resolutions shall be approved by a simple majority vote. An amendment to our articles
of association requires the prior approval of a simple majority of our shares represented and voting at a general meeting and
of the holders of a class of shares whose rights are being affected. Our number with the Israeli Registrar of Companies is 513022780.
Our purpose is set forth in Section 2 of our articles of association and as to engage in any legal business.

 

Transfer
of Shares

 

Our
ordinary shares that are fully paid for are issued in registered form and may be freely transferred under our articles of association,
unless the transfer is restricted or prohibited by applicable law or the rules of a stock exchange on which the shares are traded.
The ownership or voting of our ordinary shares by non-residents of Israel is not restricted in any way by our articles of association
or Israeli law, except for ownership by nationals of some countries that are, or have been, in a state of war with Israel.

 

Exercise
of Power by the Board

 

Pursuant
to the Companies Law and our articles of association, our board of directors may exercise all powers and take all actions that
are not required under law or under our articles of association to be exercised or taken by our shareholders, including the power
to borrow money for company purposes.

 

Changes
in Share Capital

 

Our
articles of association enable us to increase or reduce our share capital. Any such change is subject to the provisions of the
Companies Law and must be approved by a resolution duly passed by our shareholders at a general or special meeting by voting on
such change in the capital. In addition, transactions that have the effect of reducing capital, such as the declaration and payment
of dividends in the absence of sufficient retained earnings and profits and an issuance of shares for less than their nominal
value, require a resolution of our board of directors and court approval.

 

     

     

    

 

Dividends

 

Under
the Companies Law, we may declare and pay dividends only if, upon the determination of our board of directors, there is no reasonable
concern that the distribution will prevent us from being able to meet the terms of our existing and foreseeable obligations as
they become due. Under the Companies Law, the distribution amount is further limited to the greater of retained earnings or earnings
generated over the two most recent years legally available for distribution according to our then last reviewed or audited financial
statements, provided that the date of the financial statements is not more than six months prior to the date of distribution.
In the event that we do not have retained earnings or earnings generated over the two most recent years legally available for
distribution, we may seek the approval of the court in order to distribute a dividend. The court may approve our request if it
is convinced that there is no reasonable concern that the payment of a dividend will prevent us from satisfying our existing and
foreseeable obligations as they become due.

  

Shareholder
Meetings

 

Under
the Companies Law, we are required to hold an annual general meeting of our shareholders once in every calendar year and no later
than 15 months following the date of the previous annual general meeting. All meetings other than the annual general meeting of
shareholders are referred to as special meetings. Our board of directors may call special meetings whenever it deems fit, at such
time and place, within or outside of Israel, as it may determine. In addition, the Companies Law and our articles of association
provide that our board of directors is required to convene a special meeting upon the written request of (i) any two of our directors
or one quarter of the directors then in office or (ii) one or more shareholders holding, in the aggregate, (a) 5% of our issued
share capital and 1% of our outstanding voting power or (b) 5% of our outstanding voting power.

 

Subject
to the provisions of the Companies Law and the regulations promulgated thereunder, shareholders entitled to participate and vote
at general meetings are the shareholders of record on a date to be decided by the board of directors. Furthermore, the Companies
Law and our articles of association require that resolutions regarding the following matters must be passed at a general meeting
of our shareholders:

 

	 	●	amendments
    to our articles of association;

 

	 	●	appointment or termination
    of our auditors;

 

	 	●	appointment and
    dismissal of external directors (if applicable);

 

	 	●	approval of acts
    and transactions requiring general meeting approval pursuant to the Companies Law;

 

	 	●	director compensation
    and compensation of the principal executive officer (subject to certain exceptions);

 

	 	●	increases or reductions
    of our authorized share capital;

 

	 	●	a merger;

 

	 	●	the exercise of
    our board of directors’ powers by a general meeting, if our board of directors is unable to exercise its powers and
    the exercise of any of its powers is required for our proper management; and

 

	 	●	authorization of
    the chairman of the board of directors or his relative to act as the company’s chief executive officer or act with such
    authority; or authorization of the company’s chief executive officer or his relative to act as the chairman of the board
    of directors or act with such authority.

 

The
Companies Law requires that a notice of any annual or special shareholders meeting be provided at least 21 days prior to the meeting
and if the agenda of the meeting includes the appointment or removal of directors, the approval of transactions with office holders
or interested or related parties, or an approval of a merger, notice must be provided at least 35 days prior to the meeting.

 

    2

     

    

 

The
Companies Law does not allow shareholders of publicly traded companies to approve corporate matters by written consent.

 

Pursuant
to our articles of association, holders of our ordinary shares have one vote for each ordinary share held on all matters submitted
to a vote before the shareholders at a general meeting.

 

Quorum

 

The
quorum required for our general meetings of shareholders consists of at least two shareholders present in person, by proxy or
written ballot who hold or represent between them at least thirty three and one third percent (331/3%) of the total
outstanding voting rights, within half an hour from the appointed time.

 

A
meeting adjourned for lack of a quorum is adjourned to the same day in the following week at the same time and place or on a later
date if so specified in the summons or notice of the meeting. At the reconvened meeting, the quorum required consists of at least
two shareholders present in person, by proxy or written ballot who hold or represent between them at least thirty three and one
third percent (331/3%) of the total outstanding voting rights, within half an hour from the appointed time.

 

Resolutions

 

Our
articles of association provide that all resolutions of our shareholders require a simple majority vote, unless otherwise required
by applicable law.

  

Under
the Companies Law, a shareholder of a public company may vote in a meeting and in a class meeting by means of a written ballot
in which the shareholder indicates how he or she votes on resolutions relating to the following matters:

 

	 	●	an appointment or
    removal of directors;

 

	 	●	an approval of transactions
    with office holders or interested or related parties, that require shareholder approval;

 

	 	●	an approval of a
    merger;

 

	 	●	authorizing the
    chairman of the board of directors or his relative to act as the company’s chief executive officer or act with such
    authority; or authorize the company’s chief executive officer or his relative to act as the chairman of the board of
    directors or act with such authority;

 

	 	●	any other matter
    that is determined in the articles of association to be voted on by way of a written ballot. Our articles of association do
    not stipulate any additional matters; and

 

	 	●	other matters which
    may be prescribed by Israel’s Minister of Justice.

 

The
Companies Law provides that a shareholder, in exercising his or her rights and performing his or her obligations toward the company
and its other shareholders, must act in good faith and in a customary manner, and avoid abusing his or her power. This is required
when voting at general meetings on matters such as changes to the articles of association, increasing the company’s authorized
share capital, mergers and approval of certain interested or related party transactions. A shareholder also has a general duty
to refrain from depriving any other shareholder of its rights as a shareholder. In addition, any controlling shareholder, any
shareholder who knows that its vote can determine the outcome of a shareholder’s vote and any shareholder who, under such
company’s articles of association, can appoint or prevent the appointment of an office holder or has other power towards
the company, is required to act with fairness towards the company. The Companies Law does not describe the substance of this duty
except that the remedies generally available upon a breach of contract will also apply to a breach of the duty to act with fairness,
and, to the best of our knowledge, we believe there is no binding case law that addresses this subject directly.

 

    3

     

    

 

Under
the Companies Law, unless provided otherwise in a company’s articles of association, a resolution at a shareholders meeting
requires approval by a simple majority of the voting rights represented at the meeting, in person, by proxy or written ballot,
and voting on the resolution. Generally, a resolution for the voluntary winding up of the company requires the approval of holders
of 75% of the voting rights represented at the meeting, in person, by proxy or by written ballot and voting on the resolution.

 

In
the event of our liquidation, after satisfaction of liabilities to creditors, our assets will be distributed to the holders of
our ordinary shares in proportion to their shareholdings. This right, as well as the right to receive dividends, may be affected
by the grant of preferential dividend or distribution rights to the holders of a class of shares with preferential rights that
may be authorized in the future.

 

Access
to Corporate Records

 

Under
the Companies Law, all shareholders of a company generally have the right to review minutes of the company’s general meetings,
its shareholders register and principal shareholders register, its articles of association, its financial statements and any document
it is required by law to file publicly with the Israeli Companies Registrar and the Israeli Securities Authority, or ISA. Any
of our shareholders may request access to review any document in our possession that relates to any action or transaction with
a related party, interested party or office holder that requires shareholder approval under the Companies Law. We may deny a request
to review a document if we determine that the request was not made in good faith, that the document contains a commercial secret
or a patent or that the document’s disclosure may otherwise prejudice our interests.

 

Acquisitions
under Israeli Law

 

Full
Tender Offer

 

A
person wishing to acquire shares or a class of shares of an Israeli public company and who would, as a result, own more than 90%
of the target company’s issued and outstanding share capital or of a certain class of its shares, is required by the Companies
Law to make a full tender offer (as defined in the Companies Law) to all of the company’s shareholders for the purchase
of all of the issued and outstanding shares of the company or class of shares. If either (i) the shareholders who do not accept
the offer hold, in the aggregate, less than 5% of the issued and outstanding share capital of the company or of the applicable
class, and more than half of the shareholders who do not have a personal interest in the offer accept the offer, or (ii) the shareholders
who do not accept the offer hold less than 2% of the issued and outstanding share capital of the company or of the applicable
class, then all of the shares that the acquirer offered to purchase will be transferred to the acquirer by operation of law. However,
a shareholder that had its shares so transferred, whether or not it accepted the tender offer (unless otherwise provided in the
offering memorandum), may, within six months from the date of acceptance of the tender offer, petition the court to determine
that the tender offer was for less than fair value and that the fair value should be paid as determined by the court. If either
(i) the shareholders who did not accept the tender offer hold at least 5% of the issued and outstanding share capital of the company
or of the applicable class of shares or the shareholders who accept the offer constitute less than a majority of the offerees
that do not have a personal interest in the acceptance of the tender offer, or (ii) the shareholders who did not accept the tender
offer hold 2% or more of the issued and outstanding share capital of the company (or of the applicable class), the acquirer may
not acquire shares of the company that will increase its holdings to more than 90% of the company’s issued and outstanding
share capital or of the applicable class from shareholders who accepted the tender offer. Shares purchased not in accordance with
those provisions shall become “dormant shares” and shall not grant the purchaser any rights so long as they are held
by the purchaser.

  

    4

     

    

 

Special
Tender Offer

 

According
to the Companies Law, an acquisition pursuant to which a purchaser shall hold a “controlling stake”, that is
defined as 25% or more of the voting rights if no other shareholder holds a controlling stake, or an acquisition pursuant to which
such purchaser shall hold more than 45% of the voting rights of the company if no other shareholder owns more than 45% of the
voting rights, may not be performed by way of market accumulation, but only by way of a special tender offer (as defined in the
Companies Law) made to all of the company’s shareholders on a pro rata basis. A special tender offer may not be consummated
unless a majority of the shareholders who announced their stand on such offer have accepted it (in counting the total votes of
such shareholders, shares held by the controlling shareholders, shareholders who have a personal interest in the offer, shareholders
who own 25% or more of the voting rights in the company, relatives or representatives of any of the above or the bidder and corporations
under their control, shall not be taken into account). A shareholder may be free to object to such an offer without such objection
being deemed as a waiver of his right to sell its respective shares if the transaction is approved by a majority of the company’s
shareholders despite his objection. Shares purchased not in accordance with those provisions shall become “dormant shares”
and shall not grant the purchaser any rights so long as they are held by the purchaser. If a special tender offer is accepted,
then the purchaser or any person or entity controlling it or under common control with the purchaser or such controlling person
or entity may not make a subsequent tender offer for the purchase of shares of the target company and may not enter into a merger
with the target company for a period of one year from the date of the offer, unless the purchaser or such person or entity undertook
to effect such an offer or merger in the initial special tender offer.

 

Under
regulations enacted pursuant to the Companies Law, the above special tender offer requirements may not apply to companies whose
shares are listed for trading on a foreign stock exchange if, among other things, the relevant foreign laws or the rules of the
stock exchange include provisions limiting the percentage of control which may be acquired or that the purchaser is required to
make a tender offer to the public. However, we believe the ISA’s current opinion is that such leniency does not apply with
respect to companies whose shares are listed for trading on stock exchanges in the United States, including the Nasdaq Capital
Market.

 

Merger

 

The
Companies Law permits merger transactions if approved by each party’s board of directors and, unless certain requirements
described under the Companies Law are met, a majority of each party’s shares voted on the proposed merger at a shareholders’
meeting called with at least 35 days’ prior notice.

 

For
purposes of the shareholder vote, unless a court rules otherwise, the merger will not be deemed approved if a majority of the
shares represented at the shareholders meeting that are held by parties other than the other party to the merger, or by any person
who holds 25% or more of the outstanding shares or the right to appoint 25% or more of the directors of the other party, vote
against the merger. If the transaction would have been approved but for the separate approval of each class or the exclusion of
the votes of certain shareholders as provided above, a court may still approve the merger upon the request of holders of at least
25% of the voting rights of a company, if the court holds that the merger is fair and reasonable, taking into account the value
of the parties to the merger and the consideration offered to the shareholders.

 

Upon
the request of a creditor of either party to the proposed merger, the court may delay or prevent the merger if it concludes that
there exists a reasonable concern that, as a result of the merger, the surviving company will be unable to satisfy the obligations
of any of the parties to the merger, and may further give instructions to secure the rights of creditors.

 

In
addition, a merger may not be completed unless at least 50 days have passed from the date that a proposal for approval of the
merger was filed by each party with the Israeli Registrar of Companies and 30 days have passed from the date the merger was approved
by the shareholders of each party.

 

Antitakeover
Measures

 

The
Companies Law allows us to create and issue shares having rights different from those attached to our ordinary shares, including
shares providing certain preferred rights, distributions or other matters and shares having preemptive rights. As of the date
of this prospectus, we do not have any authorized or issued shares other than our ordinary shares. In the future, if we do create
and issue a class of shares other than ordinary shares, such class of shares, depending on the specific rights that may be attached
to them, may delay or prevent a takeover or otherwise prevent our shareholders from realizing a potential premium over the market
value of their ordinary shares. The authorization of a new class of shares will require an amendment to our articles of association
which requires the prior approval of the holders of a majority of our shares at a general meeting.

 

The
Nasdaq Capital Market

 

Our
ordinary shares are listed on the Nasdaq Capital Market and trade under the symbol “NTEC.”

 

Transfer
agent 

 

The
transfer agent of our ordinary shares is VStock Transfer, LLC.

 

 

5

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