Document:

SHARE EXCHANGE AGREEMENT

THIS SHARE EXCHANGE AGREEMENT (this "Agreement"), dated as of the 26th day of March, 2015 (this "Agreement") is entered into by and among, GMCI CORP. (also known as "Pacific Metals, Corp.), a corporation organized under the laws of the State of Nevada ("GMCI"), LIEW CHIN LOONG, an individual residing in the Malaysia ("Liew"), LOK KHING MING, an individual residing in the Malaysia ("Lok") and LYF & SON REALTY SDN. BHD., a Malaysian corporation ("LYF") (Liew, Lok and LYF are collectively referred to herein as the "Owners"). GMCI and Owners are referred to singularly as a "Party" and collectively as the "Parties."

WITNESSETH:

WHEREAS, the Owners own all of the issued and outstanding shares of SBS Mining Corp. Malaysia Sd. Bhd., a Malaysian corporation ("SBS");

WHEREAS, SBS is in the business of mining and exploring certain mining properties located in Mukim of Batu Talam District of Raub, State of Pahang Darul Makmur, Malaysia (the "Properties"), pursuant to those two (2) certain written agreements dated January 6, 2014, entered into by and between SBS and YM Tengku Dato Kalsom Ibni Al-Marhum Sultan Abu Bakar (the "Mining Agreements";

WHEREAS, GMCI wishes to acquire all of the issued and outstanding shares of capital stock of SBS (referred to hereinafter as the "SBS Shares") with the purpose of owning and operating SBS as GMCI's wholly-owned subsidiary; and

WHEERAS, GMCI, SBS, and the Owners propose to enter into this Agreement which provides, among other things, that the Owners will deliver the SBS Shares to GMCI in exchange for a total of 500 million shares of GMCI's common stock (the "Share Exchange") as described in Section 2.01 of this Agreement, on the terms and conditions set forth herein and such additional items as more fully described in this Agreement.

NOW, THEREFORE, in consideration, of the promises and of the mutual representations, warranties and agreements set forth herein, the Parties hereto agree as follows:

ARTICLE I

DEFINITIONS

Section 1.01.                                        Definitions. The following terms shall have the following respective meanings:

	
"Affiliate"

	 	
with respect to any Party, a Person that directly or indirectly controls, is controlled by, or is under common control of such Party.  For the purpose of this definition, "control" means (i) ownership of more than ten percent (10%) of the voting shares of a Person or (ii) the right or ability to direct the management or policies of a Person through ownership of voting shares or other securities, pursuant to a written agreement or otherwise;

 

 

 

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"Business Day"

	 	
a day (other than a Saturday) on which banks in Nevada are open for business throughout their normal business hours;

 

	
"Closing"

	 	
the closing of the transactions contemplated by this Agreement;

 

	
"Completion"

	 	
completion of acquisition of the SBS Shares by GMCI and issuance of the Exchange Shares (as such term is defined below) in accordance with the terms and conditions of this Agreement;

 

	
"Encumbrance"

	 	
any mortgage, charge, pledge, lien, (otherwise than arising by statute or operation of law), equities, hypothecation or other encumbrance, priority or security interest, preemptive right deferred purchase, title retention, leasing, sale-and-repurchase or sale-and-leaseback arrangement whatsoever over or in any property, assets or rights of whatsoever nature and includes any agreement for any of the same and reference to "Encumbrances" shall be construed accordingly;

 

	
"Exchange Act"

	 	
the US Securities Exchange Act of 1934;

 

	
"Person"

	
any individual, firm, company, government, state or agency of a state or any joint venture, association or partnership (whether or not having separate legal personality);

 

	 
	
"Securities Act"

	 	
the US Securities Act of 1933;

 

	
"SEC"

	 	
the US Securities and Exchange Commission;

 

	
"US"

	 	
United States of America;

 

	
"United States Dollars"

or "US$"

	 	
United States dollars;

Section 1.02.                          Rules of Construction.

            (a)            Unless the context otherwise requires, as used in this Agreement:  (i) "including" means "including, without limitation"; (ii) words in the singular include the plural; (iii) words in the plural include the singular; (iv) words applicable to one gender shall be construed to apply to each gender; (v) the terms "hereof," "herein," "hereby," "hereto" and derivative or similar words refer to this entire Agreement, including the Schedules hereto; (vi) the terms "Article," "Section" and "Schedule" shall refer to the specified Article, Section or Schedule of or to this Agreement and references to paragraphs shall refer to the relevant paragraph of a specified Schedule and (vii) the term "day" shall refer to calendar days.

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(b)            Titles and headings to Articles and Sections are inserted for convenience of reference only, and are not intended to be a part of or to affect the meaning or interpretation of this Agreement.

ARTICLE II

THE SHARE EXCHANGE

Section 2.01                          Share Exchange.

(a)            Subject to and upon the terms and conditions of this Agreement, on the Closing Date (as defined hereafter), GMCI shall acquire all of the SBS Shares from the Owners with all of such interests acquired being free from all Encumbrances together with all rights now or hereafter attaching thereto.

(b)            In exchange for the delivery of the SBS Shares, GMCI shall provide the following to the Owners at the closing, a total of Five Hundred Million (500,000,000) shares of GMCI's common stock (the "Exchange Shares"), allocated as follows:

Liew                          75 million shares

Lok                          50 million shares

LYF                          375 million shares

provided, however,  that the Exchange Shares to be issued to any particular Owner shall be issued to any affiliate, trustee, legal entity or representative as directed by such Owner.

(c)            The Share Exchange shall take place upon the terms and conditions provided for in this Agreement and in accordance with applicable law. If the Closing does not occur as set forth in Section 2.02 of this Agreement due to one Party's failure to perform, then the other Party may terminate the Agreement.

Section 2.02.                                        Closing Location.  The Closing of the Share Exchange and the other transactions contemplated by this Agreement will occur as soon as possible (the "Closing Date"), at the offices of Booth Udall Fuller, PLC, 1255 W. Rio Salado Parkway, Tempe, Arizona.

Section 2.03.                                        Owner's Closing Documents.  At the Closing, the Owners will tender to GMCI:

(a)            Original certificates issued in the name of the Owner or Owners representing all of the SBS Shares, duly endorsed for transfer by the Owners, with either a medallion signature guarantee or notarization of such endorsement, and marked "cancelled for transfer" or as otherwise directed by GMCI or its counsel, in accordance with the laws of the Malaysia;

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(b)            One (1) new certificate issued by SBS in the name of GMCI representing the SBS Shares;

(c)            A certified copy of the register of shareholders of SBS showing GMCI as the registered owner of the SBS Shares; and

(d)            A resolution from the Owners certifying that the conditions in Section 8.01(b) have been satisfied.

Section 2.04.                                        GMCI's Closing Documents.  At the Closing, GMCI will tender to the Owners:

(a)            A certified copy(ies) of resolutions of the Board of Directors of GMCI in a form satisfactory to the Owners, acting reasonably, authorizing:

                          (i)            the execution and delivery of this Agreement by GMCI; and

		(ii)	the issuance of the Exchange Shares to the Owners.

(b)            Share certificates, registered in the name of the Owners representing the Exchange Shares; and

(c)            A certificate executed by a duly appointed officer of GMCI certifying that the conditions in Section 9.01(b) have been satisfied.

ARTICLE III

REPRESENTATIONS AND WARRANTIES

Section 3.01.                          Each Party represents and warrants to the other Party that each of the warranties it makes is accurate in all respects and not misleading as at the date of this Agreement.

Section 3.02.                          Each Party undertakes to disclose in writing to the other Party anything which is or may constitute a breach of or be inconsistent with any of the warranties immediately upon the same coming to its notice at the time of and after Completion.

Section 3.03.                          Each Party agrees that each of the warranties it makes shall be construed as a separate and independent warranty and (except where expressly provided to the contrary) shall not be limited or restricted by reference to or inference from the terms of any other warranty or any other term of this Agreement.

Section 3.04.                          Each Party acknowledges that the restrictions contained in Section 11.01 shall continue to apply after the Closing without limit in time.

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ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF GMCI

Section 4.01.                                        Organization, Standing and Authority; Foreign Qualification. GMCI is a corporation duly organized, validly existing and in good standing under the laws of the State of Nevada and has all requisite corporate power and authority to own, lease and operate its properties and to conduct its business as presently conducted and as proposed to be conducted and is duly qualified or licensed as a foreign corporation in good standing in each jurisdiction in which the character of its properties or the nature of its business activities require such qualification.

Section 4.02.                                        Corporate Authorization. The execution, delivery and performance by GMCI of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized by all necessary corporate action on the part of GMCI, and this Agreement constitutes a valid and binding agreement of GMCI. The Exchange Shares to be issued in accordance with this Agreement shall be duly authorized and, upon such issuance, will be validly issued, fully paid and non-assessable.

Section 4.03.                                        Capitalization.  GMCI's authorized capital stock, as of the Closing Date upon issuance of the Exchange Shares, shall consist of 4,000,000,000 authorized shares of common stock, of which 2,000,802,346 common shares shall be issued and outstanding (including the Exchange Shares. All of such issued and outstanding shares of GMCI's common stock and preferred stock are duly authorized, validly issued, fully paid and non-assessable. There are no outstanding options, warrants, agreements or rights to subscribe for or to purchase, or commitments to issue, shares of GMCI's common stock or any other security of GMCI or any plan for any of the foregoing, except for conversion rights associated with a certain convertible promissory note in the principal amount of $195,000, which is convertible into shares of GMCI's common stock at a price of $0.05 per share. GMCI is not obligated to register the resale of any of its common stock on behalf of any shareholder of GMCI under the Securities Act.

Section 4.04.                                        Subsidiaries. GMCI's does not have any subsidiaries.

Section 4.05.                          Articles of Incorporation and Bylaws.  GMCI has heretofore delivered, or prior to Closing GMCI shall deliver, to the Owners true, correct and complete copies of its Articles of Incorporation, certified by the Secretary of State of the State of Nevada and Bylaws or comparable instruments, certified by GMCI's corporate secretary.

Section 4.06.                          No Conflict.  The execution, delivery and performance of this Agreement and the completion of the transactions contemplated herein will not:

(a)            violate any provision of the Articles of Incorporation, Bylaws or other charter or organizational document of GMCI;

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(b)            violate, conflict with or result in the breach of any of the terms of, result in any modification of the effect of, otherwise give any other contracting party the right to terminate, or constitute (or with notice or lapse of time or both constitute) a default under, any contract to which GMCI is a party or by or to which either of its assets or properties, may be bound or subject;

(c)            violate any order, judgment, injunction, award or decree of any court, arbitrator or governmental or regulatory body against, or binding upon, or any agreement with, or condition imposed by, any governmental or regulatory body, foreign or domestic, binding upon GMCI or upon the securities, assets or business of GMCI;

(d)            violate any statute, law or regulation of any jurisdiction as such statute, law or regulation relates to GMCI or to the securities, properties or business of GMCI; or

(e)            result in the breach of any of the terms or conditions of, constitute a default under, or otherwise cause an impairment of, any permit or license held by GMCI.

Section 4.07.                          Litigation. There is no litigation, suit, proceeding, action or claim at law or in equity, pending or to GMCI's best knowledge threatened against or affecting GMCI or involving any of GMCI's property or assets, before any court, agency, authority or arbitration tribunal, including, without limitation, any product liability, workers' compensation or wrongful dismissal claims, or claims, actions, suits or proceedings relating to toxic materials, hazardous substances, pollution or the environment. GMCI is not subject to or in default with respect to any notice, order, writ, injunction or decree of any court, agency, authority or arbitration tribunal.

Section 4.08.                          Compliance with Laws. To the best knowledge of GMCI, it has complied with all laws, municipal bylaws, regulations, rules, orders, judgments, decrees and other requirements and policies imposed by any governmental authority applicable to it, its properties or the operation of its business, except where the failure to comply will not have a material adverse effect on the business, properties, financial condition or earnings of GMCI.

Section 4.09.                          True and Correct Copies. All documents furnished or caused to be furnished to the Owner by GMCI are true and correct copies, and there are no amendments or modifications thereto except as set forth in such documents.

Section 4.10.                                        Contracts.

            (a)            Except for the contracts set forth on Schedule 4.10 and excluding any obligation referenced in this Agreement, GMCI is not a party to any:

                          (i)            contracts with any current or former officer, director, employee, consultant, agent or other representative having more than three (3) months to run from the date hereof or providing for an obligation to pay and/or accrue compensation of $100,000 or more per annum, or providing for the payment of fees or other consideration in excess of $100,000 in the aggregate to any officer or director of GMCI, or to any other entity in which GMCI has an interest;

 

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(ii)            contracts for the purchase or sale of equipment or services that contain an escalation, renegotiation or re-determination clause or that can be cancelled without liability, premium or penalty only on ninety (90) days' or more notice;

                          (iii)            contracts for the sale of any of its assets or properties or for the grant to any person of any preferential rights to purchase any of its or their assets or properties;

                          (iv)            contracts (including, without limitation, leases of real property) calling for an aggregate purchase price or payments in any one (1) year of more than $100,000 in any one case (or in the aggregate, in the case of any related series of contracts);

                          (v)            contracts relating to the acquisition by GMCI of any operating business of, or the disposition of any operating business by, any other person;

                          (vi)            executory contracts relating to the disposition or acquisition of any investment or of any interest in any person;

                          (vii)            joint venture contracts or agreements;

                          (viii)            contracts under which GMCI agrees to indemnify any party, other than in the ordinary course of business or in amounts not in excess of $100,000 or to share tax liability of any party;

                          (ix)            contracts containing covenants of GMCI not to compete in any line of business or with any person in any geographical area or covenants of any other person not to compete with GMCI in any line of business or in any geographical area;

                          (x)            contracts for or relating to computers, computer equipment, computer software or computer services; or

                          (xi)            contracts relating to the borrowing of money by GMCI or the direct or indirect guarantee by GMCI of any obligation for, or an agreement by GMCI to service, the repayment of borrowed money, or any other contingent obligations in respect of indebtedness of any other Person, including, without limitation:

                                        (A)            any contract with respect to lines of credit;

                                        (B)            any contract to advance or supply funds to any other person other than in the ordinary course of business;

                                        (C)            any contract to pay for property, products or services of any other person even if such property, products or services are not conveyed, delivered or rendered;

 

 

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                          (D)            any keep-well, make-whole or maintenance of working capital or earnings or similar contract; or

                                        (E)            any guarantee with respect to any lease or other similar periodic payments to be made by any other person; and

                          (xii)            any other material contract whether or not made in the ordinary course of business.

Section 4.11.                                        Operations of GMCI.  During the last ninety (90) days prior to the date hereof, GMCI has not:

(a)            except for (i) the reverse split of GMCI's common stock at the ratio of 25 for one that was made effective on January 7, 2015 by FINRA and (ii) the pending change of its corporate name to "GMCI Corp."; amended its Articles of Incorporation or Bylaws or merged with or into or consolidated with any other person or entity, subdivided or in any way reclassified any shares of its capital stock or changed or agreed to change in any manner the rights of its outstanding capital stock or the character of its business;

(b)            except for the issuance of 2 billion shares of common stock in anticipation of the Share Exchange; issued, reserved for issuance, sold or redeemed, repurchased or otherwise acquired, or issued options or rights to subscribe to, or entered into any contract or commitment to issue, sell or redeem, repurchase or otherwise acquire, any shares of its capital stock or any bonds, notes, debentures or other evidence or indebtedness;

(c)            declared or paid any dividends or declared or made any other distributions of any kind to its shareholders; or

(d)            made any loan or advance to any of  its shareholders or to any of its directors, officers or employees, consultants, agents or other representatives, or made any other loan or advance, otherwise than in the ordinary course of business.

Section 4.12.                          Material Information.  This Agreement, the Schedules attached hereto and all other information provided, in writing, by GMCI or representatives thereof to the Owners, taken as a whole, do not contain any untrue statement of a material fact or omit to state a material fact necessary to make any statement contained herein or therein not misleading. There are no facts or conditions which have not been disclosed to the Owners in writing which, individually or in the aggregate, could have a material adverse effect on GMCI or a material adverse effect on the ability of GMCI to perform any of its obligations pursuant to this Agreement.

Section 4.13.                          Brokerage.  No broker or finder has acted, directly or indirectly, for GMCI nor did GMCI incur any finder's fee or other commission, in connection with the transactions contemplated by this Agreement.

 

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ARTICLE V

REPRESENTATIONS AND WARRANTIES OF THE OWNER

The Owners represent to GMCI as follows:

Section 5.01.                                        Organization, Standing and Authority; Foreign Qualification. (a) SBS is a corporation duly organized, validly existing and in good standing under the laws of Malaysia and has all requisite corporate power and authority to own, lease and operate its respective properties and to conduct its respective business as presently conducted and as proposed to be conducted and is duly qualified or licensed as a foreign corporation in good standing in each jurisdiction in which the character of its properties or the nature of its business activities require such qualification.

Section 5.02.                                        Authorization. The execution, delivery and performance by the Owners of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized by all necessary actions, as the case may be, on the part of the Owners. The Owners have duly executed and delivered this Agreement and this Agreement constitutes a valid and binding agreement of the Owners. The SBS Shares to be transferred to GMCI in accordance with this Agreement have been duly authorized and validly issued, fully paid and non-assessable. Upon transfer of the SBS Shares, no Encumbrance shall exist thereon.

Section 5.03.                                        Capitalization.

(a)            SBS's current total share capital is allocated as follows:

Liew                          90,000 shares                                                                      15%

Lok                            60,000 shares                                                                      10%

LYF                      450,000 shares                                                                    75%

		(b)	All of such issued and outstanding shares of capital stock of SBS are duly authorized, validly issued, fully paid and non-assessable.  There are no outstanding options, warrants, agreements or rights to subscribe for or to purchase, or commitments to issue, shares of capital stock in SBS or any other security of SBS or any plan for any of the foregoing.

(c)            The SBS Shares are not subject to any option, right of first refusal or any other restriction on transfer, whether by contract, agreement, applicable law, regulation or statute, as the case may be.

(d)            There are no outstanding loans, debts, bonds, indentures or promissory notes giving the holder thereof the right to convert such instruments into shares of SBS's capital stock.

Section 5.04.                                        Subsidiaries. SBS does not have any direct or indirect subsidiaries.

 

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Section 5.05.                          Sale of Exchange Shares. Upon completion of the purchase and sale of the Exchange Shares, the Owners shall be the beneficial and record holder of the Exchange Shares.

Section 5.06.                          Investment Risk.  The Owners understand that an investment in GMCI includes a high degree of risk, have such knowledge and experience in financial and business matters, investments, securities and private placements as to be capable of evaluating the merits and risks of their investment in the Exchange Shares, are in a financial position to hold the Exchange Shares for an indefinite period of time, and are able to bear the economic risk of, and withstand a complete loss of such investment in the Exchange Shares.

Section 5.07.                          Cooperation. If required by applicable securities laws or order of a securities regulatory authority, stock exchange or other regulatory authority, the Owners will execute, deliver, file and otherwise assist GMCI in filing such reports, undertakings and other documents as may be required with respect to the issuance of the Exchange Shares.

Section 5.08.                          Tax Advice.  The Owners are solely responsible for obtaining such legal, including tax, advice as it considers necessary or appropriate in connection with the execution, delivery and performance by them of this Agreement and the transactions contemplated herein.

Section 5.09.                                        Investment Representations.  All of the acknowledgements, representations, warranties and covenants set out in Exhibit A hereto are true and correct as of the date hereof and as of the Closing Date as for the Owners.

Section 5.10.                          No Conflict.  The execution, delivery and performance of this Agreement and the completion of the transactions contemplated herein will not:

(a)            violate any provision of the Articles or Certificate of Incorporation, Bylaws or other charter or organizational document of SBS;

(b)            violate, conflict with or result in the breach of any of the terms of, result in any modification of the effect of, otherwise give any other contracting party the right to terminate, or constitute (or with notice or lapse of time or both constitute) a default under, any contract to which SBS or the Owners is a party or by or to which their assets or properties, including the SBS Shares, may be bound or subject;

(c)            violate any order, judgment, injunction, award or decree of any court, arbitrator or governmental or regulatory body against, or binding upon, or any agreement with, or condition imposed by, any governmental or regulatory body, foreign or domestic, binding upon SBS or the Owners or upon the securities, assets or business of SBS and/or the Owners;

(d)            violate any statute, law or regulation of any jurisdiction as such statute, law or regulation relates to SBS and/or the Owners or to the securities, properties or business of SBS and/or the Owners; or

 

 

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(e)            result in the breach of any of the terms or conditions of, constitute a default under, or otherwise cause an impairment of, any permit or license held by SBS and/or the Owners.

Section 5.11.                          Organizational Documents.

            (a)            The Owners have heretofore delivered to GMCI true, correct and complete copies of SBS's Articles of Incorporation or Association (or such similar organizational documents), certified by the Companies Commission of Malaysia or such other governmental entity with the power and authority to certify SBS' incorporation documents and Bylaws or comparable instruments, certified by the corporate secretary thereof.

(b)            The minute books of SBS accurately reflect all actions taken at all meetings and consents in lieu of meetings of its respective members or owners, and all actions taken at all meetings and consents in lieu of meetings of its managing members from the date of incorporation to the date hereof.

Section 5.12.                          Compliance with Laws.  To the best of the Owners' knowledge, neither SBS nor the Owners are in violation of any applicable order, judgment, injunction, award or decree nor are they in violation of any federal, provincial, state, local, municipal or foreign law, ordinance or regulation or any other requirement of any governmental or regulatory body, court or arbitrator, other than those violations which, in the aggregate, would not have a material adverse effect on SBS or the Owners and have not received written notice that any violation is being alleged.

Section 5.13.                          Material Information.  This Agreement, the Schedules attached hereto and all other information provided in writing by the Owners or representatives thereof to GMCI, taken as a whole, do not contain any untrue statement of a material fact or omit to state a material fact necessary to make any statement contained herein or therein not misleading.  There are no facts or conditions which have not been disclosed to GMCI in writing which, individually or in the aggregate, could have a material adverse effect on SBS and/or the Owners or a material adverse effect on the ability of the Owners to perform any of their obligations pursuant to this Agreement.

Section 5.14.                                        Actions and Proceedings.  There are no outstanding orders, judgments, injunctions, awards or decrees of any court, governmental or regulatory body or arbitration tribunal against or involving SBS or the Owners.  There are no actions, suits or claims or legal, regulatory, administrative or arbitration proceedings pending or, to the knowledge of the Owners, threatened against or involving SBS or the Owners, their respective assets or the SBS Shares.

Section 5.15.                                        Operations.  Except as contemplated by this Agreement, since its date of incorporation, SBS has not:

(a)            amended its Certificate or Articles of Association or Bylaws (or similar document) or merged with or into or consolidated with any other person or entity, subdivided or in any way reclassified any of its ownership interests or changed or agreed to change in any manner the rights of its ownership interests or the character of its business;

 

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(b)            issued, reserved for issuance, sold or redeemed, repurchased or otherwise acquired, or issued options or rights to subscribe to, or entered into any contract or commitment to issue, sell or redeem, repurchase or otherwise acquire, any ownership interests or any bonds, notes, debentures or other evidence or indebtedness; or

(c)            made any loan or advance to any manager, officer, director or employee, consultant, agent or other representative.

Section 5.16.                          Brokerage.  The Owners shall pay any brokerage, finder's fee or other commission owed in connection with the transactions contemplated by this Agreement.

ARTICLE VI

COVENANTS AND AGREEMENTS OF OWNERS

Section 6.01.                          Conduct of Businesses in the Ordinary Course.  From the date of this Agreement to the Closing Date, the Owners shall cause SBS to conduct its respective business substantially in the manner in which it is currently conducted.

Section 6.02.                          Preservation of Permits and Services.  From the date of this Agreement to the Closing Date, the Owners shall cause SBS to use its best efforts to preserve any permits and licenses in full force and effect and to keep available the services, and preserve the goodwill, of its present managers, officers, employees, agents, and consultants.

Section 6.03.                          Conduct Pending the Closing Date.  From the date of this Agreement to the Closing Date: (a) the Owners shall cause SBS to use its best efforts to conduct its affairs in such a manner so that, except as otherwise contemplated or permitted by this Agreement, the representations and warranties contained in Article V shall continue to be true and correct on and as of the Closing Date as if made on and as of the Closing Date; and (b) the Owners shall promptly notify GMCI of any event, condition or circumstance that would constitute a violation or breach of this Agreement by the Owners.

Section 6.04.                                        Corporate Examinations and Investigations.  Prior to the Closing Date, GMCI shall be entitled, through its employees and representatives, to make such reasonable investigation of the assets, liabilities, properties, business and operations of SBS, and such examination of the books, records, tax returns, results of operations and financial condition of SBS. Any such investigation and examination shall be conducted at reasonable times and under reasonable circumstances and the Owners and their employees and representatives, including without limitation, their counsel and independent public accountants, shall cooperate fully with such representatives in connection with such reasonable review and examination.

 

 

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ARTICLE VII

COVENANTS AND AGREEMENTS OF GMCI

Section 7.01.                          Conduct of Businesses in the Ordinary Course.  From the date of this Agreement to the Closing Date, GMCI shall conduct its businesses substantially in the manner in which it is currently conducted and shall not enter into any contract described in Section 4.10, or undertake any of the actions specified in Sections 4.11.

Section 7.02.                                        Litigation.  From the date of this Agreement to the Closing Date, GMCI shall notify the Owner of any actions or proceedings of the type described in Section 4.07 that are threatened or commenced against GMCI or against any officer, director, employee, properties or assets of GMCI and of any requests for information or documentary materials by any governmental or regulatory body in connection with the transactions contemplated hereby.

Section 7.03.                          Conduct of GMCI Pending the Closing.  From the date hereof through the Closing Date:

(a)            GMCI shall use its best efforts to conduct its affairs in such a manner so that, except as otherwise contemplated or permitted by this Agreement, the representations and warranties contained in Article IV shall continue to be true and correct on and as of the Closing Date as if made on and as of the Closing Date; and

(b)            GMCI shall promptly notify the Owner of any event, condition or circumstance occurring from the date hereof through the Closing Date that would constitute a violation or breach of this Agreement by GMCI.

Section 7.04.                                        Corporate Examinations and Investigations.  Prior to the Closing Date, the Owners shall be entitled, through employees and representatives, to make any investigation of the assets, liabilities, properties, business and operations of GMCI; and such examination of the books, records, tax returns, results of operations and financial condition of GMCI. Any such investigation and examination shall be conducted at reasonable times and under reasonable circumstances and GMCI and its employees and representatives shall cooperate fully with such representatives in connection with such reasonable review and examination.

ARTICLE VIII

CONDITIONS PRECEDENT TO THE OBLIGATION OF GMCI TO CLOSE

The obligations of GMCI to be performed by it at the Closing pursuant to this Agreement are subject to the fulfillment on or before the Closing Date, of each of the following conditions, any one or more of which may be waived by it, to the extent permitted by law:

Section 8.01.                          Representations and Covenants.  (a) The representations and warranties of the Owners contained in this Agreement shall be true and correct on and as of the Closing Date with the same force and effect as though made on and as of the Closing Date, except that any of such representations and warranties that are given as of a particular date and relate solely to a particular date or period shall be true as of such date or period; and

 

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(b)          The Owner shall have performed and complied with all covenants and agreements required by this Agreement to be performed or complied with by him on or before the Closing Date. The Owners shall have delivered to GMCI a certificate, dated the Closing Date, and signed by the Owners to the foregoing effect.

Section 8.02.                          Governmental Permits and Approvals.

            (a)            All approvals, authorizations, consents, permits and licenses from governmental and regulatory bodies required for the transactions contemplated by this Agreement and to permit the business currently carried on by SBS to continue to be carried on substantially in the same manner immediately following the Closing Date shall have been obtained and shall be in full force and effect, and GMCI shall have been furnished with appropriate evidence, reasonably satisfactory to them, of the granting of such approvals, authorizations, consents, permits and licenses; and

(b)            There shall not have been any action taken by any court, governmental or regulatory body then prohibiting or making illegal on the Closing Date the transactions contemplated by this Agreement.

Section 8.03.                          Third Party Consents.  All consents, permits and approvals from parties to contracts with SBS that may be required in connection with the performance by the Owners hereunder or the continuance of such contracts in full force and effect after the Closing Date, shall have been obtained.

Section 8.04.                          Litigation.  No action, suit or proceeding shall have been instituted and be continuing or be threatened by any person to restrain, modify or prevent the carrying out of the transactions contemplated hereby, or to seek damages in connection with such transactions, or that has or could have a material adverse effect on SBS, the Owners, or on the SBS Shares.

Section 8.05                          Closing Documents.  The Owners shall have executed and delivered the documents described in Section 2.03 above.

ARTICLE IX

CONDITIONS PRECEDENT TO THE OBLIGATION OF THE OWNERS TO CLOSE

The obligations of the Owners to be performed by them at the Closing pursuant to this Agreement are subject to the fulfillment, on or before the Closing Date, of each the following conditions, any one or more of which may be waived by him, to the extent permitted by law:

Section 9.01.                          Representations and Covenants.  (a)  The representations and warranties of GMCI contained in this Agreement shall be true and correct on and as of the Closing Date with the same force and effect as though made on and as of the Closing Date, except that any of such representations and warranties that are given as of a particular date and relate solely to a particular date or period shall be true as of such date or period; and

 

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(b)            GMCI shall have performed and complied with all covenants and agreements required by this Agreement to be performed or complied with by it on or before the Closing Date. GMCI shall have delivered to the Owners a certificate dated the Closing Date, and signed by an authorized signatory of GMCI to the foregoing effect.

Section 9.02.                          Governmental Permits and Approvals.  (a)                                                                                                  All approvals, authorizations, consents, permits and licenses from governmental and regulatory bodies required for the transactions contemplated by this Agreement and to permit the business currently carried on by GMCI to continue to be carried on substantially in the same manner immediately following the Closing Date shall have been obtained and shall be in full force and effect, and the Owners shall have been furnished with appropriate evidence, reasonably satisfactory to them, of the granting of such approvals, authorizations, consents, permits and licenses; and

            (b)            There shall not have been any action taken by any court, governmental or regulatory body then prohibiting or making illegal on the Closing Date the transactions contemplated by this Agreement.

Section 9.03.                          Litigation.  No action, suit or proceeding shall have been instituted and be continuing or be threatened by any person to restrain, modify or prevent the carrying out of the transactions contemplated hereby, or to seek damages in connection with such transactions, or that has or could have a material adverse effect on GMCI.

Section 9.04.                          Closing Documents.  GMCI shall have executed and delivered the documents described in Section 2.04 above.

ARTICLE X

TERMINATION

Section 10.01.                         Termination.

(a)            Notwithstanding anything to the contrary in this Agreement, this Agreement may be terminated and the Share Exchange and the other transactions contemplated by this Agreement shall be abandoned at any time prior to the Closing:

                          (i)            by mutual written consent of the Owners and GMCI;

                          (ii)            by either the Owners or GMCI in the event that a temporary restraining order, preliminary or permanent injunction or other judicial order preventing the consummation of the Share Exchange or any of the other transactions contemplated hereby shall have become final and non-appealable; provided, that, the party seeking to terminate this Agreement pursuant to this clause (ii) shall have used all commercially reasonable efforts to have such order, injunction or other order vacated;

                          (iii)            by GMCI if GMCI is not then in material breach of this Agreement and if there shall have been any breach by the Owners (which has not been waived) of one or more of its representations or warranties, covenants or agreements set forth in this Agreement, which breach or breaches (A) would give rise to the failure of a condition set forth in Article VIII, and (B) shall not have been cured within thirty (30) days following receipt by the Owners of written notice of such breach, or such longer period in the event that such breach cannot reasonably be expected to be cured within such 30‐day period and the Owners are diligently pursuing such cure;

 

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                  (v)            by the Owner if the Owners are not then in material breach of this Agreement and if there shall have been any breach by GMCI (which has not been waived) of one or more of its representations or warranties, covenants or agreements set forth in this Agreement, which breach or breaches (A) would give rise to the failure of a condition set forth in Article IX, and (B) shall not have been cured within thirty (30) days following receipt by GMCI of written notice of such breach; or

(b)            In the event of termination by the Owners or GMCI pursuant to this Section 10.01, written notice thereof shall forthwith be given to the other Party and the transactions contemplated by this Agreement shall be terminated, without further action by any Party.

Section 10.02.                                        Effect of Termination.  If this Agreement is terminated and the transactions contemplated hereby are abandoned as described in Section 10.01, this Agreement shall become null and void and of no further force and effect, except for the provisions of (i) Section 10.01 and this Section 10.02; and (ii) Section 11.01 relating to publicity. Nothing in this Section 10.02 shall be deemed to release any Party from any liability for any breach by such Party of the terms, conditions, covenants and other provisions of this Agreement or to impair the right of any Party to compel specific performance by any other Party of its obligations under this Agreement.

ARTICLE XI

POST-CLOSING COVENANTS

Section 11.01                                        GMCI's Covenants. GMCI hereby covenants with the Owners and promises to re-elect Liew and Lok as members of the Board of SBS

		(a)	.

Section 11.02 Owners' Covenants. The Owners, jointly and severally, hereby covenant with GMCI and promises as follows:

		(a)	To maintain the books, records, accounting and financial statements of SBS and all operations related to its mining operations, in accordance with applicable accounting principles and practices.

		(b)	To maintain all of the legal requirements that permit SBS to continue its mining operations under all applicable federal, state and/or provincial laws and regulations of Malaysia and comply with all other federal, state and/or provincial laws and regulations of Canada.

 

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		(c)	Not to incur any debt by SBS in any event whatsoever, except with the prior written consent of the Board of Directors of GMCI.

MISCELLANEOUS

Section 11.01.                                        Public Notices.  The Parties agree that all notices to third parties and all other publicity concerning the transactions contemplated by this Agreement shall be jointly planned and coordinated and no Party shall act unilaterally in this regard without the prior approval of the others, such approval not to be unreasonably withheld.

Section 11.02.                                        Time.  Time shall be of the essence hereof.

Section 11.03.                                        Notices.  Any notice or other writing required or permitted to be given hereunder or for the purposes hereof shall be sufficiently given if delivered or faxed to the Party to whom it is given or, if mailed, by prepaid registered mail addressed to such Party at:

if to the Owners, at:

                                                      

                                                      

                                                      

                                                      

if to GMCI, at:

GMCI Corp.

c/o W. Scott Lawler, Esq.

                        Booth Udall Fuller PLC

                       1255 W Rio Salado Pkwy #215

                        Tempe, AZ 85281

or at such other address as the Party to whom such writing is to be given shall have last notified to the Party giving the same in the manner provided in this article. Any notice mailed shall be deemed to have been given and received on the fifth Business Day next following the date of its mailing unless at the time of mailing or within five (5) Business Days thereafter there occurs a postal interruption which could have the effect of delaying the mail in the ordinary and usual course, in which case any notice shall only be effectively given if actually delivered or sent by telecopy. Any notice delivered or faxed to the Party to whom it is addressed shall be deemed to have been given and received on the Business Day next following the day it was delivered or faxed.

Section 11.04.   Severability.  If a court of competent jurisdiction determines that any one or more of the provisions contained in this Agreement is invalid, illegal or unenforceable in any respect in any jurisdiction, the validity, legality and enforceability of such provision or provisions shall not in any way be affected or impaired thereby in any other jurisdiction and the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby, unless in either case as a result of such determination this Agreement would fail in its essential purpose.

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Section 11.05.                                        Entire Agreement.  This Agreement constitutes the entire agreement between the Parties and supersedes all prior agreements and understandings, oral or written, by and between any of the Parties with respect to the subject matter hereof.

Section 11.06.                                        Further Assurances.  The Parties shall with reasonable diligence, do all such things and provide all such reasonable assurances as may be required to consummate the transactions contemplated by this Agreement, and each Party shall provide such further documents or instruments required by the other Party as may be reasonably necessary or desirable to give effect to the purpose of this Agreement and carry out its provisions whether before or after the Closing Date.

Section 11.07.                                        Waiver.  Except as provided in this Article, no action taken or inaction pursuant to this Agreement will be deemed to constitute a waiver of compliance with any warranties, conditions or covenants contained in this Agreement and will not operate or be construed as a waiver of any subsequent breach, whether of a similar or dissimilar nature.  No waiver of any right under this Agreement shall be binding unless executed in writing by the Party to be bound thereby.

Section 11.08.  Counterparts.  This Agreement may be executed in as many counterparts as may be necessary or by facsimile and each such counterpart agreement or facsimile so executed shall be deemed to be an original and such counterparts and facsimile copies together shall constitute one and the same instrument and shall be valid and enforceable.

IN WITNESS WHEREOF the Parties hereto have set their hand and seal as of the day and year first above written.

	
GMCI CORP. (also known as Pacific Metals Corp.),   a Nevada corporation

 	 	
"OWNERS"

	 
	 	 	 	 	 
	
By:

	 /s/ LOK KHING MING	 	
/s/ LIEW CHIN LOONG

	 
	
Name:

	 LOK KHING MING	 	 LIEW CHIN LOONG	 
	
Title:

	 	 	 	 
	 	 	 	 	 
	 			/s/ LOK KHING MING	
	 	 	 	
LOK KHING MING

	 
	 	 	 	 	 
	 				
	 				
	 	 	 	
LYF & SON REALTY SDN. BHD., a Malaysian corporation

	 
	 	 	 	 	 
	 	 	 	
By: /s/ LIEW YOKE FOONG

	 
	 	 	 	
Name: LIEW YOKE FOONG

	 
	 	 	 	
Title: DIRECTOR

	 

 

 

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EXHIBIT A

Non-U.S. Person Certificate

March 26, 2015

GMCI Corp.

c/o W. Scott Lawler, Esq.

Booth Udall Fuller, PLC

1255 W. Rio Salado Parkway

Suite 215

Tempe, AZ 85281

Defined terms used but not defined herein shall have the meaning ascribed to such terms in the Share Exchange Agreement (the "Share Agreement") dated March ____, 2015, by and among GMCI CORP. (also known as "Pacific Metals, Corp.") ("GMCI"), a corporation organized under the laws of the State of Nevada, LIEW CHIN LOONG, an individual residing in the Malaysia, LOK KHING MING, an individual residing in the Malaysia and LYF & SON REALTY SDN. BHD., a Malaysian corporation, whereby GMCI is acquiring from the other parties all of issued and outstanding shares of SBS Mining Corp. Malaysia Sd. Bhd., a Malaysian corporation, in exchange for shares of GMCI's common stock ("the Shares").

		1.	The undersigned hereby represents, warrants and certifies that:

		(a)	It is not a "U.S. Person" (as such term is defined by Rule 902 of Regulation S under the U.S. Securities Act) and is not acquiring the Shares, directly or indirectly, for the account or benefit of any U.S. person.

Rule 902 under the U.S. Securities Act, defines a "U.S. Person" as:

		(A)	Any Natural person resident in the United States;

		(B)	Any partnership or corporation organized or incorporated under the laws of the United States;

		(C)	Any estate of which any execution or administrator is a U.S. Person;

		(D)	Any trust of which any trustee is a U.S. Person;

		(E)	Any agency or branch of a foreign entity located in the United States;

		(F)	Any non-discrectionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account of a U.S. Person;

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		(G)	Any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated, or (if an individual) resident in the United States; and

		(H)	Any partnership or corporation if:

		(1)	Organized or incorporated under the laws of any foreign jurisdiction; and

		(2)	Formed by a U.S. Person principally for the purpose of investing in securities not registered under the Securities Act, unless it is organized or incorporated, and owned, by accredited investors (as defined in Rule 501(a) under the Securities Act) who are not natural person, estates or trusts.

The following are not "U.S. Persons:

		(A)	Any discretionary account or similar account (other than an estate or trust) held for the benefit or account of a Non-U.S. Person by a dealer or other professional fiduciary organized, incorporated, or (if an individual) resident in the United States;

		(B)	Any estate of which any professional fiduciary acting as executor or administrator is a U.S. Person if:

		(1)	An executor or administrator of the estate who is not a U.S. Person has sole or shared investment discretion with respect to the assets of the estate; and

		(2)	The estate is governed by foreign law;

		(C)	Any trust of which any professional fiduciary acting as trustee is a U.S. Person, if a trustee who is not a U.S. Person has sole or shared investment discretion with respect to the trust assets, and no beneficiary of the trust (and no settler if the trust is revocable) is a U.S. Person;

		(D)	Any employee benefit established and administered in accordance with the law of a country other than the United States and customary practices and documentation of such country;

		(E)	Any agency or branch of a U.S. person located outside the United States if:

		(1)	The agency or branch operates for valid business reasons; and

 

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		(2)	The agency or branch is engaged in the business of insurance or banking and is subject to substantive insurance or banking regulation, respectively, in the jurisdiction where located; and

		(F)	The International Monetary Fund, the International Bank for Reconstruction and Development, the Inter-American Development Bank, the Asian Development Bank, the African Development Bank, the United Nations, and their agencies, affiliates and pension plans, and any other similar international organizations, their agencies, affiliates and pension plans.

		(b)	The offer and scale of the Shares was made in an "offshore transaction" (as defined under Regulation S under the U.S. Securities Act), in that:

		(i)	The undersigned was outside the United States at the time the buy order for such Shares was originated; and

		(ii)	The offer to sell the Shares was not made to the undersigned in the United States.

		(c)	The transaction (i) has not been pre-arranged with a purchaser located inside of the United States or is a U.S. Person, and (ii) is not part of a plan or scheme to evade the registration requirements of the U.S. Securities Act.

		2.	The undersigned hereby covenants that:

		(a)	During the period prior to one year after the Closing (the "Restricted Period") it will not engage in hedging transactions with regard to the Shares unless such transactions are made in compliance with the U.S. Securities Act;

		(b)	If it decides to offer, sell or otherwise transfer any of the Shares, it will not offer, sell or otherwise transfer any of such Shares directly or indirectly, unless:

		(i)	The sale is to the Company;

		(ii)	The sale is made outside the United States in a transaction meeting the requirements of Regulation S under the U.S. Securities Act and in compliance with applicable local laws and regulations; provided, however, that during the period prior to the expiration of the Restrictive Period no sale may be made to any U.S. Person or for the account or benefit of the U.S. person (other than a distributor) and all purchasers of such Shares will be required to execute and deliver to the Company a certificate substantially in the form hereof;

		(iii)	The sale is made in the United States pursuant to the exemption from the registration requirements under the U.S. Securities Act provided by Rule 144 thereunder and in accordance with any applicable state securities or "blue sky" laws and the purchaser has prior to such sale furnished to the Company an opinion of counsel reasonably satisfactory to the Company to the effect that such transaction does not require registration pursuant to Rule 144 under the U.S. Securities Act;

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		(iv)	The Shares are sold in the United States in a transaction that does not require registration under U.S. Securities Act or any applicable state laws and regulations governing the offer and sale of securities, and it has prior to such sale furnished to the Company an opinion of counsel reasonably satisfactory to the Company to the effect that such transaction does not require registration; or

		(v)	The sale is made in the United States pursuant to an effective registration statement filed under the U.S. Securities Act.

		3.	The undersigned acknowledges and agrees that:

		(a)	The Shares are and will be "restricted securities" as that term is defined in Rule 144 under the U.S. Securities Act, and the certificates representing the Shares, as well as all certificates issued in exchange for or in substitution of the foregoing, until such time as is no longer required under the applicable requirements of the U.S. Securities Act or applicable state securities laws, will be subject to the terms of and bear, on the face of such certificate, a legend in substantially the following for:

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 (THE "U.S. SECURITIES ACT") OR ANY STATE SECURITIES LAWS, AND ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT. THESE SECURITIES ARE RESTRICTED SECURITIES (AS DEFINED UNDER RULE 144 UNDER THE U.S. SECURITIES ACT) AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF FOR VALUE EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S PROMULGATED UNDER THE U.S. SECURITIES ACT, PURSUANT TO REGISTRATION UNDER THE U.S. SECURITIES ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION THEREUNDER.

DURING THE PERIOD PRIOR TO OCTOBER ____, 2015 [ONE YEAR AFTER THE CLOSING] (THE "RESTRICTED PERIOD"), THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY WITHIN THE UNITED STATES, TO A U.S. PERSON (AS DEFINIED IN REGULATION S UNDER THE U.S. SECURITIES ACT), OR FOR THE ACOUNT OR BENEFIT OF A U.S. PERSON, EXCEPT PURSUANT TO REGISTRATION UNDER THE U.S. SECURITIES ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION THEREUNDER. DURING THE RESTRICTED PERIOD HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE CONDUCTED UNLESS SUCH TRANSACTIONS ARE MADE IN COMPLIANCE WITH THE U.S. SECURITES ACT.  THIS PARAGRAPH SHALL HAVE NO FURTHER EFFECT SUBSEQUENT TO THE EXPIRATION OF THE RESTRICTED PERIOD AND THEREAFTER MAY BE REMOVED.

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		(b)	The Company will refuse to register any sale of Shares made in breach of the provisions hereof.

		(c)	The addressees of this certificate and others will rely upon the truth and accuracy of the foregoing acknowledgements, representations, warranties and agreements, and irrevocably authorizes the addressees of this certificate to produce the same or a copy thereof to any interested party in any administrative or legal proceeding or official enquiry with respect to the matters set forth herein. The undersigned further agrees that if any of acknowledgements, representations, warranties or agreements made herein is no longer accurate, it shall promptly notify the Company

	March 26, 2015		March 26, 2015	
	
Date

	 	
Date

	 
	 	 	 	 
	 			
	
/s/ LIEW CHIN LOONG

	 	
/s/ LOK KHING MING

	 
	 LIEW CHIN LOONG		LOK KHING MING	
	 	 	 	 
	March 26, 2015			
	
Date            

	 	
 

	 
	 	 	 	 
	 			
	 /s/ LIEW YOKE FOONG			
	
LYF & SON REALTY SDN. BHD., a

Malaysian corporation

	 	 	 
	 	 	 	 
	March 26, 2015			
	Date	 	 	 
	 	 	 	 
	
By: /s/ LIEW YOKE FOONG

	 	 	 
	
Name: LIEW YOKE FOONG

	 	 	 
	
Title: DIRECTOR

	 	 	 

                                                                                                                                                                      

                                                                                                                                                                      

 

23ESCROW AGREEMENT (PUBLIC OFFERING)

 

THIS
AGREEMENT (this “Agreement”) is made this August 31, 2017 by and among Greenpro Capital Corp. (the
“Issuer”) and the Placement Agent whose name and address appears on the Information Sheet (as defined herein) attached
to this Agreement and Continental Stock Transfer & Trust Company, 1 State Street, 30th Floor, New York, New York 10004 (the
“Escrow Agent”).

 

W I T N E S S E T H:

 

WHEREAS,
the Issuer has filed with the Securities and Exchange Commission (the “Commission”) a Registration Statement (the “Registration
Statement”) covering a proposed public offering of its securities as described on the Information Sheet;

 

WHEREAS,
the Placement Agent proposes to offer the Securities, as agent for the Issuer, for sale to the public on a “best efforts”
only basis for at least the Minimum Securities Amount and Minimum Dollar Amount and at most the Maximum Securities Amount and Maximum
Dollar Amount and at the price per share or other unit all as set forth, on the Information Sheet;

 

WHEREAS
the Issuer and the Placement Agent propose to establish an Escrow Account (the “Escrow Account”), to which subscription
monies which are received by the Escrow Agent from the Placement Agent in connection with such public offering are to be credited,
and the Escrow Agent is willing to establish the Escrow Account and the terms are subject to the conditions hereinafter set forth;

 

WHEREAS,
the Escrow Agent has an agreement with JP Morgan Chase to establish a special Bank Account (the “Bank Account”)
into which the subscription monies, which are received by the Escrow Agent from the Placement Agent and credited to the Escrow
Account, are to be deposited;

 

WHEREAS,
the Issuer, the Placement Agent and the Escrow Agent wish to enter into this Agreement; and

 

NOW,
THEREFORE in consideration of the premises and mutual covenants herein contained, the parties hereto hereby agree as
follows:

 

	1	Information Sheet. Each capitalized term not otherwise defined in this Agreement shall have the meaning set forth for such term on the information sheet which is attached to this Agreement and is incorporated by reference herein and made a part hereof (the “Information Sheet”).
	 	 
	2	Establishment of the Bank Account.
	 	 
	2.1	The Escrow Agent shall establish a non-interest bank account at the branch of JP Morgan Chase selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Placement Agent from prospective purchasers of the Securities and are delivered by the Placement Agent to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

 

     

     

    

 

	2.2	On or before the date of the initial deposit in the Bank Account pursuant to this Agreement, “The Placement Agent shall notify the Escrow Agent in writing of the Effective Date of the Registration Statement (the “Effective Date”), and the Escrow Agent shall not be required to accept any amounts for credit to the Escrow Account or for deposit in the Bank Account prior to its receipt of such notification.
	 	 
	2.3	The Offering Period, which shall be deemed to commence on the Effective Date, shall consist of the number of calendar days or business days set forth on the Information Sheet. The Offering Period shall be extended by an Extension Period only if the Escrow Agent shall have received joint written notice thereof from the Issuer and the Placement Agent at least five (5) business days prior to the expiration of the Offering Period. The Extension Period, which shall be deemed to commence on the next calendar day following the expiration of the Offering Period, shall consist of the number of calendar days or business days set forth on the Information Sheet. The last day of the Offering Period, or the last day of the Extension Period (if the Escrow Agent has received written notice thereof as hereinabove provided), is referred to herein as the “Termination Date”. Except as provided in Section 4.3 hereof, after the Termination Date the Placement Agent shall not deposit, and the Escrow Agent shall not accept, any additional amounts representing payments by prospective purchasers.
	 	 
	3	Deposits to the Bank Account.
	 	 
	3.1	The Placement Agent shall promptly deliver to the Escrow Agent all monies in the form of checks or wire transfers
which it receives from prospective purchasers of the Securities by noon of the next business day following receipt where internal
supervisory review is conducted at the same location at which subscription documents and monies are received.  Upon the
Escrow Agent’s receipt of such monies, they shall be credited to the Escrow Account. All checks delivered to the Escrow Agent
shall be made payable to “CST&T Greenpro Capital Corp Escrow Account.”  Any check payable other than
to the Escrow Agent as required hereby shall be returned to the prospective purchaser, or if the Escrow Agent has insufficient
information to do so, then to the Placement Agent (together with any Subscription Information, as defined below or other documents
delivered therewith) by noon of the next business day following receipt of such check by the Escrow Agent, and such check shall
be deemed not to have been delivered to the Escrow Agent pursuant to the terms of this Agreement.
	 	 
	3.2	Promptly after receiving subscription monies as described in Section 3.1, the Escrow Agent shall deposit the same into the Bank Account.  Amounts of monies so deposited are hereinafter referred to as “Escrow Amounts”.  The Escrow Agent shall cause the Bank to process all Escrow Amounts for collection through the banking system.  Simultaneously with each deposit to the Escrow Account, the Placement Agent (or the Issuer, if such deposit is made by the Issuer) shall inform the Escrow Agent in writing of the name, address, and the tax identification number of the purchaser, the amount of Securities subscribed for by such purchase, and the aggregate dollar amount of such subscription (collectively, the “Subscription Information”).

 

    	2

     

    

 

	3.3	The Escrow Agent shall not be required to accept for credit to the Escrow Account or for deposit into the Bank Account checks which are not accompanied by the appropriate Subscription Information, which at minimum shall include the name address, tax identification number and the number of shares/units.  Wire transfers representing payments by prospective purchasers shall not be deemed deposited in the Escrow Account until the Escrow Agent has received in writing the Subscription Information required with respect to such payments.
	 	 
	3.4	The Escrow Agent shall not be required to accept in the Escrow Account any amounts representing payments by prospective purchasers, whether by check or wire, except during the Escrow Agent’s regular business hours.
	 	 
	3.5	Only those Escrow Amounts, which have been deposited in the Bank Account and which have cleared the banking system and have been collected by the Escrow Agent, are herein referred to as the “Fund”.
	 	 
	3.6	If the proposed offering is terminated before the Termination Date, the Escrow Agent shall refund any portion of the Fund prior to disbursement of the Fund in accordance with Article 4 hereof upon instructions in writing signed by both the Issuer and the Placement Agent.
	 	 
	4	Disbursement from the Bank Account.
	 	 
	4.1	Subject to Section 4.3 below, if by the close of regular banking hours on the Termination Date the Escrow Agent determines that the amount in the Fund is less than the Minimum Dollar Amount or the Minimum Securities Amount, as indicated by the Subscription information submitted to the Escrow Agent, then in either such case, the Escrow Agent shall promptly refund to each prospective purchaser the amount of payment received from such purchaser which is then held in the Fund or which thereafter clears the banking system, without interest thereon or deduction therefrom, by drawing checks on the Bank Account for the amounts of such payments and transmitting them to the purchasers. In such event, the Escrow Agent shall promptly notify the Issuer and the Placement Agent of its distribution of the Fund.
	 	 
	4.2	Subject to Section 4.3 below, if at any time up to the close of regular banking hours on the Termination Date, the Escrow Agent determines that the amount in the Fund is at least equal to the Minimum Dollar Amount and represents the sale of not less than the Minimum Securities Amount, the Escrow Agent shall promptly notify the Issuer and the Placement Agent of such fact in writing. The Escrow Agent shall promptly disburse the Fund, by drawing checks on the Bank Account in accordance with instructions in writing signed by both the Issuer and the Placement Agent as to the disbursement of the Fund, promptly after it receives such instructions.

 

    	3

     

    

 

	4.3	(This provision applies only if a Collection Period has been provided for by the appropriate indication on the Information Sheet.)  If the Escrow Agent or the Placement Agent has on hand at the close of business on the Termination Date any uncollected amounts which when added to the Fund would raise the amount in the Fund to the Minimum Dollar Amount, and result in the Fund represent the sale of the Minimum Securities Amount, the Collection Period (consisting of the number of business days set forth on the Information Sheet) shall be utilized to allow such uncollected amounts to clear the banking system. During the Collection Period, the Placement Agent (and the Issuer) shall not deposit and the Escrow Agent shall not accept, any additional amounts; provided, however, that such amounts as were received by the Placement Agent (or the Issuer) by the close of business on the Termination Date may be deposited with the Escrow Agent by noon of the next business day following the Termination Date. If, at the close of business on the last day of the Collection Period, an amount sufficient to raise the amount in the Fund to the Minimum Dollar Amount and which would result in the Fund representing the sale of the Minimum Securities Amount shall not have cleared the banking system, the Escrow Agent shall promptly notify the Issuer and the Placement Agent in writing of such fact and shall promptly return all amounts then in the Fund, and any amounts which thereafter clear the banking system to the prospective purchasers as provided in Section 4.2 hereof. The holding period on physical checks for deposit will be 5 business days.
	 	 
	4.4	Upon disbursement of the Fund pursuant to the terms of this Article 4, the Escrow Agent shall be relieved of all further obligations and released from all liability under this Agreement. It is expressly agreed and understood that in no event shall the aggregate amount of payments made by the Escrow Agent exceed the amount of the Fund.
	 	 
	5	Rights, Duties and Responsibilities of Escrow Agent.  It is understood and agreed that the duties of the Escrow Agent are purely ministerial in nature, and that:
	 	 
	5.1	The Escrow Agent shall notify the Placement Agent, on a daily basis, of the Escrow Amounts which have been deposited in the Bank Account and of the amounts, constituting the Fund, which have cleared the banking system and have been collected by the Escrow Agent.
	 	 
	5.2	The Escrow Agent shall not be responsible for or be required to enforce any of the terms or conditions of the underwriting agreement or any other agreement between the Placement Agent and the Issuer nor shall the Escrow Agent be responsible for the performance by the Placement Agent or the Issuer of their respective obligations under this Agreement.
	 	 
	5.3	The Escrow Agent shall not be required to accept from the Placement Agent (or the Issuer) any Subscription Information pertaining to prospective purchasers unless such Subscription Information is accompanied by checks, or wire transfers meeting the requirements of Section 3.1, nor shall the Escrow Agent be required to keep records of any information with respect to payments deposited by the Placement Agent (or the Issuer) except as to the amount of such payments; however, the Escrow Agent shall notify the Placement Agent within a reasonable time of any discrepancy between the amount set forth in any Subscription Information and the amount delivered to the Escrow Agent therewith. Such amount need not be accepted for deposit in the Escrow Account until such discrepancy has been resolved.

 

    	4

     

    

 

	5.4	The Escrow Agent shall be under no duty or responsibility to enforce collection of any check delivered to it hereunder. The Escrow Agent, within a reasonable time, shall return to the Placement Agent any check received which is dishonored, together with the Subscription Information, if any, which accompanied such check.
	 	 
	5.5	The Escrow Agent shall be entitled to rely upon the accuracy, act in reliance upon the contents, and assume the genuineness of any notice, instruction, certificate, signature, instrument or other document which is given to the Escrow Agent pursuant to this Agreement without the necessity of the Escrow Agent verifying the truth or accuracy thereof. The Escrow Agent shall not be obligated to make any inquiry as to the authority, capacity, existence or identity or any person purporting to give any such notice or instructions or to execute any such certificate, instrument or other document.
	 	 
	5.6	If the Escrow Agent is uncertain as to its duties or rights hereunder or shall receive instructions with respect to the Bank Account, the Escrow Amounts or the Fund which, in its sole determination, are in conflict either with other, instructions received by it or with any provision of this Agreement, it shall be entitled to hold the Escrow Amounts, the Fund, or a portion thereof, in the Bank Account pending the resolution of such uncertainty to the Escrow Agent’s sole satisfaction, by final judgment of a court or courts of competent jurisdiction or otherwise;  or the Escrow Agent, at its sole option, may deposit the Fund (and any other Escrow Amounts that thereafter become part of the Fund) with the Clerk of a court of competent jurisdiction in a proceeding to which all parties in interest are joined. Upon the deposit by the Escrow Agent of the Fund with the Clerk of any court, the Escrow Agent shall be relieved of all further obligations and released from all liability hereunder.
	 	 
	5.7	The Escrow Agent shall not be liable for any action taken or omitted hereunder, or for the misconduct of any employee, agent or attorney appointed by it, except in the case of willful misconduct or gross negligence. The Escrow Agent shall be entitled to consult with counsel of its own choosing and shall not be Liable for any action taken, suffered or omitted by it in accordance with the advice of such counsel.
	 	 
	5.8	The Escrow Agent shall have no responsibility at any time to ascertain whether or not any security interest exists in the Escrow Amounts, the Fund or any part thereof or to file any statement under the Uniform Commercial Code with respect to the Fund or any part thereof.
	 	 
	6	Amendment; Resignation.  This Agreement may be altered or amended only with the written consent of the Issuer, the Placement Agent and the Escrow Agent.

 

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	6.1	The Escrow Agent may resign for any reason upon thirty (30) business days’ written notice to the Issuer and the Placement Agent. Should the Escrow Agent resign as herein provided, it shall not be required to accept any deposit, make any disbursement or otherwise dispose of the Escrow Amounts or the Fund, but its only duty shall be to hold the Escrow Amounts until they clear the banking system and the Fund for a period of not more than five (5) business days following the effective date of such resignation, at which time (a) if a successor escrow agent shall have been appointed and written notice thereof (including the name and address of such successor escrow agent) shall have been given to the resigning Escrow Agent by the Issuer, the Placement Agent and such successor escrow agent, then the resigning Escrow Agent shall pay over to the successor escrow agent the Fund, less any portion thereof previously paid out in accordance with this Agreement; or (b) if the resigning Escrow Agent shall not have received written notice signed by the Issuer, the Placement Agent and a successor escrow agent, then the resigning Escrow Agent shall promptly refund the amount in the Fund to each prospective purchaser without interest thereon or deduction therefrom, and the resigning Escrow Agent shall promptly notify the Issuer and the Placement Agent in writing of its liquidation and distribution of the Fund; whereupon, in either case, the Escrow Agent shall be relieved of all further obligations and released from all liability under this Agreement. Without limiting the provisions of Section 8 hereof, the resigning Escrow Agent shall be entitled to be reimbursed by the Issuer and the Placement Agent for any actual expenses incurred in connection with its resignation, transfer of the Fund to a successor escrow agent or distribution of the Fund pursuant to this Section 6.
	 	 
	7	Representations and Warranties.  The issuer and the Placement Agent hereby jointly and severally represent and warrant to the Escrow Agent that:
	 	 
	7.1	No party other than the parties hereto and the prospective purchasers have, or shall have, any lien, claim or security interest in the Escrow Amounts or the Fund or any part thereof.
	 	 
	7.2	No financing statement under the Uniform Commercial Code is on file in any jurisdiction claiming a security interest in or describing (whether specifically or Generally) the Escrow Amounts or the Fund or any part thereof.
	 	 
	7.3	The Subscription information submitted with each deposit shall, at the time of submission and at the time of disbursement of the Fund, be deemed a representation and warranty that such deposit represents a bona fide payment by the purchaser described therein for the amount of securities in such described as Subscription Information.
	 	 
	7.4	All of the information contained in the Information Sheet is, as of the date hereof, and will be, at the time of any disbursement of the Fund, true and correct.
	 	 
	7.5	Reasonable controls have been established and required due diligence performed to comply with “Know Your Customer” regulations, USA Patriot Act, Office of the Foreign Asset Control (OFAC) regulations and the Bank Secrecy Act.
	 	 
	8	Fees and Expenses.  The Escrow Agent shall be entitled to the Escrow Agent Fees set forth on the Information Sheet, payable as and when stated therein. In addition, the Issuer and the Placement Agent jointly and severally agree to reimburse the Escrow Agent for any reasonable expenses incurred in connection with this Agreement, including, but not limited to, reasonable counsel fees. Upon receipt of the Minimum Dollar Amount, the Escrow Agent shall have a lien upon the Fund to the extent of its fees for services as Escrow Agent.

 

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	9	Indemnification and Contribution.
	 	 
	9.1	The Issuer and the Placement Agent (collectively referred to as the “Indemnitors”) jointly and severally agree to indemnify the Escrow Agent and its officers, directors, employees, agents and shareholders (collectively referred to as the “ Indemnitees”) against, and hold them harmless of and from, any and all loss, liability, cost, damage and expense, including without limitation, reasonable counsel fees, which the Indemnitees may suffer or incur by reason of any action, claim or proceeding brought against the Indemnitees arising out of or relating in any way to this Agreement or any transaction to which this Agreement relates, unless such action, claim or proceeding is the result of the willful misconduct or gross negligence of the Indemnitees.
	 	 
	9.2	If the indemnification provided for in Section 9.1 is applicable, but for any reason is held to be unavailable, the Indemnitors shall contribute such amounts as are just and equitable to pay, or to reimburse the Indemnitees for, the aggregate of any and all losses, liabilities, costs, damages and expenses, including counsel fees, actually incurred by the Indemnitees as a result of or in connection with, and any amount paid in settlement of, any action, claim or proceeding arising out of or relating in any way to any actions or omissions of the Indemnitors.
	 	 
	9.3	The provisions of this Article 9 shall survive any termination of this Agreement, whether by disbursement of the Fund, resignation of the Escrow Agent or otherwise.
	 	 
	10	Governing Law and Assignment. This Agreement shall be construed in accordance with and governed by the laws of the State of New York and shall be binding upon the parties hereto and their respective successors and assigns; provided, however, that any assignment or transfer by any party of its rights under this Agreement or with respect to the Escrow Amounts or the Fund shall be void as against the Escrow Agent unless (a) written notice thereof shall be given to the Escrow Agent; and (b) the Escrow Agent shall have consented in writing to such assignment or transfer.
	 	 
	11	Notices.  All
    notices required to be given in connection with this Agreement shall be sent by registered or certified mail, return receipt
    requested, electronic mail (“e-mail”) with PDF attachment executed by an authorized signer of the Party/Parties
    to the e-mail address given below or by hand delivery with receipt acknowledged, or by the Express Mail service offered by
    the United States Post Office, and addressed, if to the Issuer or the Placement Agent, at their respective addresses set forth
    on the Information Sheet, and if to the Escrow Agent, at its address set forth above, to the attention of the Trust Department.
    The notice shall be deemed to have been duly given: (a) when received if personally delivered; (b) the day after it is sent,
    if sent for next day delivery to a domestic address by a recognized overnight delivery service (e.g., Federal Express); and
    (c) upon receipt, if sent by certified or registered mail, return receipt requested.  The commencement of any notice
    periods set forth in a notice shall begin upon the deemed delivery date of such notice.

 

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	12	Severability.  If
    any provision of this Agreement or the application thereof to any person or circumstance shall be determined to be invalid
    or unenforceable, the remaining provisions of this Agreement or the application of such provision to persons or circumstances
    other than those to which it is held invalid or unenforceable shall not be affected thereby and shall be valid and enforceable
    to the fullest extent permitted by law.
	 	 
	13	Execution
    in Several Counterparts.  This
    Agreement may be executed in several counterparts or by separate instruments, and all of such counterparts and instruments
    shall constitute one agreement, binding on all of the parties hereto.
	 	 
	14	Entire
    Agreement.  This
    Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes
    all prior agreements and understandings (written or oral) of the parties in connection therewith.

 

    	8

     

    

 

IN WITNESS WHEREOF, the undersigned have executed
this Agreement as of the day and year first above written.

 

	THE ISSUER	 	CONTINENTAL
    STOCK TRANSFER & TRUST COMPANY
	Greenpro
    Capital Corp.	 	 	 
	 	 	 	 	 
	By:	/s/
    Loke Che Chan Gilbert	 	By:	/s/ Sharmin
    Carter
	Name:	Loke Che Chan Gilbert	 	Name:	Sharmin Carter
	Title:	CFO, Director	 	Title:	Vice President

 

	THE PLACEMENT AGENT

 

Network 1 Financial Securities, Inc.

	 
	 	 	 
	By:	/s/ Adam Pasholk	 
	Name:	Adam Pasholk	 
	Title:	Managing Director	 

 

     

     

    

 

EXHIBIT A

 

ESCROW AGREEMENT INFORMATION SHEET

 

	1.	The Issuer

 

Name:
Greenpro Capital Corp.

Address:
Room 1701-1703, 17/F The Metropolis Tower, 10 Metropolis Drive, Hung Hom

Kowloon, Hong Kong

 

	2.	The Placement Agent

 

Name: Network 1 Financial Securities,
Inc.

Address: 2 Bridge Avenue, Red Bank,
NJ 07701 USA

 

	3.	The Securities

 

Description of the Securities to
be offered: Up to 2,500,000 shares of the Issuer.

 

	4.	Minimum Amounts and Conditions Required for Disbursement of the Escrow Account

 

Aggregate
dollar amount which must be collected before the Escrow Account may be disbursed to the Issuer: US$3,000,000

 

Maximum
Amounts and Conditions Required for Disbursement of the Escrow Account US$15,000,000

 

	5. 	Plan of Distribution of the Securities: Collection Period

 

Initial Offering Period: Through
December 31, 2017

Extension Period, if any: Until June
30, 2018

 

	6.	Title of Escrow Account

 

“CST&T Greenpro Capital Corp Escrow Account”

 

	7.	Escrow Agent Fees and Charges

 

$5,500 for the first 6 months: $2,750.00
payable at signing of the Escrow Agreement, plus $2,750.00 at the Closing. (Note: $250.00 online “view only” access
to the bank account is included). A fee of $500 will be payable for document review services related to each amendment/extension
to the Escrow Agreement. In addition, the Escrow Agent shall be paid a fee of $500.00 for each additional closing beyond the Initial
Offering Period. Should the Escrow Agent continue for more than six months, the Escrow Agent shall receive a fee of $600.00 per
month, or any portion thereof, payable in advance or the first business day of the month.

 

Distribution charges:

$10.00 per check

$50.00 per wire

$100.00 per check returned (NSF)
check

$100.00 lost check replacement fee

$50.00 per DWAC (share movement to
DTC)

$10.00 per share certificate

 

	8.	Collection Period

 

The collection
period will be 7 business days.

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