Document:

Exhibit
10.1

 

SECURITIES
PURCHASE AGREEMENT

 

THIS
PURCHASE AGREEMENT (“Agreement”) is made as of the 18th day of November, 2016 by and between Algae Dynamics Corp.,
(the “Company”), and GHS Investments, LLC (the “Investor”).

 

Recitals

 

 A. The
Investor wishes to purchase from the Company and the Company wishes to sell and issue to the Investor, upon the terms and conditions
stated in this Agreement:

 

1.
$56,500 of Securities, in the form of a Promissory Note (the “Note”), attached hereto.

 

  In
consideration of the mutual promises made herein and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows:

 

1. Definitions.
In addition to those terms defined above and elsewhere in this Agreement, for the purposes of this Agreement, the following terms
shall have the meanings set forth below:

 

“Affiliate”
means, with respect to any Person, any other Person which directly or indirectly through one or more intermediaries Controls,
is controlled by, or is under common control with, such Person.

 

“Business
Day” means a day, other than a Saturday or Sunday, on which banks in New York City are open for the general transaction
of business.

 

“Common
Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to
acquire at any time Common Stock, including without limitation, any debt, preferred stock, rights, options, warrants or other
instrument that is at any time convertible into or exchangeable for, or otherwise entitles the holder thereof to receive, Common
Stock.

 

“Company’s
Knowledge” means the actual knowledge of the executive officers (as defined in Rule 405 under the 1933 Act) of the Company,
after due inquiry.

 

“Confidential
Information” means trade secrets, confidential information and know-how (including but not limited to ideas, formulae,
compositions, processes, procedures and techniques, research and development information, computer program code, performance specifications,
support documentation, drawings, specifications, designs, business and marketing plans, and customer and supplier lists and related
information).

 

    	 

    	 		 

    

 

“Control”
(including the terms “controlling”, “controlled by” or “under common control with”) means
the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person,
whether through the ownership of voting securities, by contract or otherwise.

 

“Intellectual
Property” means all of the following: (i) patents, patent applications, patent disclosures and inventions (whether or
not patentable and whether or not reduced to practice); (ii) trademarks, service marks, trade dress, trade names, corporate names,
logos, slogans and Internet domain names, together with all goodwill associated with each of the foregoing; (iii) copyrights and
copyrightable works; (iv) registrations, applications and renewals for any of the foregoing; and (v) proprietary computer software
(including but not limited to data, data bases and documentation).

 

“Material
Adverse Effect” means a material adverse effect on (i) the assets, liabilities, results of operations, condition (financial
or otherwise), business, or prospects of the Company and its Subsidiaries taken as a whole, or (ii) the ability of the Company
to perform its obligations under the Transaction Documents.

 

“Person”
means an individual, corporation, partnership, limited liability company, trust, business trust, association, joint stock company,
joint venture, sole proprietorship, unincorporated organization, governmental authority or any other form of entity not specifically
listed herein.

 

“Purchase
Price” means $50,000, representing a 10% original issuance discount on the Note and $1,500 to offset transaction, diligence
and legal costs.

 

“SEC”
means the United States Securities and Exchange Commission.

 

“Securities”
means the Note and the common shares issuable at  conversion.

 

“Subsidiary”
of any Person means another Person, an amount of the voting securities, other voting ownership or voting partnership interests
of which is sufficient to elect at least a majority of its Board of Directors or other governing body (or, if there are no such
voting interests, 50% or more of the equity interests of which) is owned directly or indirectly by such first Person.

 

“Transaction
Documents” means this Agreement, the Note, the Company Representation Letter, and supporting documents.

 

“1933
Act” means the Securities Act of 1933, as amended, or any successor statute, and the rules and regulations promulgated
thereunder.

 

“1934
Act” means the Securities Exchange Act of 1934, as amended, or any successor statute, and the rules and regulations
promulgated thereunder.

 

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2. Purchase
and Sale of the Securities. Subject to the terms and conditions of this Agreement, the Company shall sell and issue to the
Investor a Promissory Note in the principal amount of $56,500.

 

2.1 Security
As Security for the Company’s obligations contained herein and in all Notes issued by the Company to the Holder, following
any Event of Default, the Holder shall be granted an unconditional first priority interest in and to, any and all property of
the Company and its subsidiaries, of any kind or description, tangible or intangible, whether now existing or hereafter arising
or acquired until the balance of all Notes has been reduced to $0. “Any and all property,” as described herein shall
be inclusive of, but not limited to, assets reported by the Company on its SEC filings, cash, inventory, accounts receivable,
intellectual property rights, equipment and property. Following an Event of Default, the Investor is authorized to make all filings
the Investor, in its discretion, deems necessary to evidence its security interests.

 

3. Closing. Upon confirmation
that the other conditions to closing specified herein have been satisfied or duly waived by the Investor, the Company shall deliver
to the Investor, a Note registered the name of the Investor and the Investor shall cause a wire transfer in same day funds to
be sent to the account of the Company as instructed in writing by the Company, in an amount representing the Purchase Price for
the Note(the “Closing Date”).

 

4. Representations
and Warranties of the Company. The Company hereby represents and warrants to the Investor that, except as set forth in the
schedules delivered herewith (collectively, the “Disclosure Schedules”):

 

4.
1 Organization, Good Standing and Qualification. Each of the Company and its Subsidiaries
is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation
and has all requisite corporate power and authority to carry on its business as now conducted and to own its properties. Each
of the Company and its Subsidiaries is duly qualified to do business as a foreign corporation and is in good standing in each
jurisdiction in which the conduct of its business or its ownership or leasing of property makes such qualification or leasing
necessary unless the failure to so qualify has not and could not reasonably be expected to have a Material Adverse Effect. The
Company’s Subsidiaries are listed on the Company’s public disclosures filed with the SEC.

 

4.2 Authorization.
The Company has full power and authority and, has taken all requisite action on the part of the Company, its officers, directors
and stockholders necessary for (i) the authorization, execution and delivery of the Transaction Documents, (ii) authorization
of the performance of all obligations of the Company hereunder or thereunder, and (iii) the authorization, issuance (or reservation
for issuance) and delivery of the Securities The Transaction Documents constitute the legal, valid and binding obligations of
the Company, enforceable against the Company in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer,
reorganization, moratorium and similar laws of general applicability, relating to or affecting creditors’ rights generally.

 

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4.3 Capitalization.
As of the date hereof, the authorized capital stock of the Company on the date hereof is unlimited; (b) the number of shares of
capital stock issued and outstanding is 10,828,801; (c) the number of shares of capital stock issuable pursuant to the Company’s
stock plans is 1,624,320; and (d) the number of shares of capital stock issuable and reserved for issuance pursuant to securities
(other than the Securities) exercisable for, or convertible into or exchangeable for any shares of capital stock of the Company
are 726,350. All of the issued and outstanding shares of the Company’s capital stock have been duly authorized and validly
issued and are fully paid, nonassessable and free of pre-emptive rights. All of the issued and outstanding shares of capital stock
of each Subsidiary have been duly authorized and validly issued and are fully paid, nonassessable and free of pre-emptive rights,
were issued in full compliance with applicable state and federal securities law and any rights of third parties and are owned
by the Company, beneficially and of record, subject to no lien, encumbrance or other adverse claim. No Person is entitled to pre-emptive
or similar statutory or contractual rights with respect to any securities of the Company. Other than described herein and in the
Company’s periodic reports filed with the SEC, there are no outstanding warrants, options, convertible securities or other
rights, agreements or arrangements of any character under which the Company or any of its Subsidiaries is or may be obligated
to issue any equity securities of any kind and except as contemplated by this Agreement, neither the Company nor any of its Subsidiaries
is currently in negotiations for the issuance of any equity securities of any kind.

 

The
issuance and sale of the Securities hereunder will not obligate the Company to issue shares of Common Stock or other securities
to any other Person (other than the Investor) and will not result in the adjustment of the exercise, conversion, exchange or reset
price of any outstanding security.

 

The
Company does not have outstanding stockholder purchase rights or “poison pill” or any similar arrangement in effect
giving any Person the right to purchase any equity interest in the Company upon the occurrence of certain events.

 

4.4 Valid
Issuance. The issued Securities have been duly and validly authorized and, when issued and paid for pursuant to this Agreement,
shall be free and clear of all encumbrances and restrictions (other than those created by the Investor), except for restrictions
on transfer set forth in the Transaction Documents or imposed by applicable securities laws. Upon the due conversion of the Debenture,
the Converted Shares will be validly issued, fully paid and non-assessable free and clear of all encumbrances and restrictions,
except for restrictions on transfer set forth in the Transaction Documents or imposed by applicable securities laws and except
for those created by the Investor. The Company has reserved a sufficient number of shares of Common Stock for issuance upon the
exercise of the Debenture, free and clear of all encumbrances and restrictions, except for restrictions on transfer set forth
in the Transaction Documents or imposed by applicable securities laws and except for those created by the Investor.

 

4.5 Consents.
The execution, delivery and performance by the Company of the Transaction Documents,
and the offer, issuance and sale of the Securities require no consent of, action by or in respect of, or filing with, any Person,
governmental body, agency, or official other than filings that have been made pursuant to applicable state securities laws, and
post-sale filings pursuant to applicable state and federal securities laws which the Company undertakes to file within the applicable
time periods. Subject to the accuracy of the representations and warranties of the Investor set forth in Section 5 hereof, the
Company has taken all action necessary to exempt (i) the issuance and sale of the Securities, (ii) the issuance of the Shares
upon due conversion of the Debenture, and (iii) the other transactions contemplated by the Transaction Documents from the provisions
of any shareholder rights plan or other “poison pill” arrangement, any anti-takeover, business combination or control
share law or statute binding on the Company or to which the Company or any of its assets and properties may be subject and any
provision of the Company’s Articles of Incorporation or By-laws that is or could reasonably be expected to become applicable
to the Investor as a result of the transactions contemplated hereby, including without limitation, the issuance of the Securities
and the ownership, disposition or voting of the Securities by the Investor or the exercise of any right granted to the Investor
pursuant to this Agreement or the other Transaction Documents.

 

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4.6 Delivery
of SEC Filings; Business. The Company has made available to the Investor through the EDGAR system, true and complete copies
of the Company’s most recent Annual Report on Form 10-K for its last fiscal year (the “10-K”), and all other
reports filed by the Company pursuant to the 1934 Act since the filing of the 10-K and prior to the date hereof (collectively,
the “SEC Filings”). The SEC Filings are the only filings required of the Company pursuant to the 1934 Act for such
period. The Company and its Subsidiaries are engaged in all material respects only in the business described in the SEC Filings
and the SEC Filings contain a complete and accurate description in all material respects of the business of the Company and its
Subsidiaries, taken as a whole.

 

4.7 Use
of Proceeds. The net proceeds of the sale of the Note hereunder shall be used by the Company for working capital and general
corporate purposes. The Company agrees that it shall not use the funds from this Agreement, at any time, to lend money, give credit
or make advances to any officers, directors, employees, subsidiaries and affiliates of the Company.

 

4.8 No
Conflict, Breach, Violation or Default. The execution, delivery and performance of the Transaction Documents by the Company
and the issuance and sale of the Securities will not conflict with or result in a breach or violation of any of the terms and
provisions of, or constitute a default under (i) the Company’s Articles of Incorporation or the Company’s Bylaws,
both as in effect on the date hereof (true and complete copies of which have been made available to the Investor through the EDGAR
system), or (ii)(a) any statute, rule, regulation or order of any governmental agency or body or any court, domestic or foreign,
having jurisdiction over the Company, any Subsidiary or any of their respective assets or properties, or (b) any agreement or
instrument to which the Company or any Subsidiary is a party or by which the Company or a Subsidiary is bound or to which any
of their respective assets or properties is subject.

 

4.9 Brokers
and Finders. No Person will have, as a result of the transactions contemplated by the Transaction Documents, any valid right,
interest or claim against or upon the Company, any Subsidiary or an Investor for any commission, fee or other compensation pursuant
to any agreement, arrangement or understanding entered into by or on behalf of the Company.

 

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4.10 No
Directed Selling Efforts or General Solicitation. Neither the Company nor any Person acting on its behalf has conducted any
general solicitation or general advertising (as those terms are used in Regulation D) in connection with the offer or sale of
any of the Securities.

 

4.11 No
Integrated Offering. Neither the Company nor any of its Affiliates, nor any Person acting on its or their behalf has, directly
or indirectly, made any offers or sales of any Company security or solicited any offers to buy any security, under circumstances
that would adversely affect reliance by the Company on Section 4(2) for the exemption from registration for the transactions contemplated
hereby or would require registration of the Securities under the 1933 Act.

 

4.12 Private
Placement. The offer and sale of the Securities to the Investor as contemplated hereby is exempt from the registration requirements
of the 1933 Act.

 

5. Representations
and Warranties of the Investor. The Investor hereby represents and warrants to the Company that:

 

5.1 Organization
and Existence. Such Investor is a validly existing corporation, limited partnership or limited liability company and has all
requisite corporate, partnership or limited liability company power and authority to invest in the Securities pursuant to this
Agreement.

 

5.2 Authorization.
The execution, delivery and performance by such Investor of the Transaction Documents to which such Investor is a party have been
duly authorized and will each constitute the valid and legally binding obligation of such Investor, enforceable against such Investor
in accordance with their respective terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium
and similar laws of general applicability, relating to or affecting creditors’ rights generally.

 

5.3 Purchase
Entirely for Own Account. The Securities to be received by such Investor hereunder will be acquired for such Investor’s
own account, not as nominee or agent, and not with a view to the resale or distribution of any part thereof in violation of the
1933 Act, and such Investor has no present intention of selling, granting any participation in, or otherwise distributing the
same in violation of the 1933 Act without prejudice, however, to such Investor’s right
at all times to sell or otherwise dispose of all or any part of such Securities in compliance with applicable federal and state
securities laws. Nothing contained herein shall be deemed a representation or
warranty by such Investor to hold the Securities for any period of time. Such Investor is not a broker-dealer registered
with the SEC under the 1934 Act or an entity engaged in a business that would require it to be so registered.

 

5.4 Investment
Experience. Such Investor acknowledges that it can bear the economic risk and complete loss of its investment in the Securities
and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of
the investment contemplated hereby.

 

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5.5 Disclosure
of Information. Such Investor has had an opportunity to receive all information related to the Company requested by it and
to ask questions of and receive answers from the Company regarding the Company, its business and the terms and conditions of the
offering of the Securities. Such Investor acknowledges receipt of copies of the SEC Filings. Neither such inquiries nor any other
due diligence investigation conducted by such Investor shall modify, amend or affect such Investor’s right to rely on the
Company’s representations and warranties contained in this Agreement.

 

5.6 Restricted
Securities. Such Investor understands that the Securities are characterized as “restricted securities” under the
U.S. federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering
and that under such laws and applicable regulations such securities may be resold without registration under the 1933 Act only
in certain limited circumstances.

 

5.7 Legends.
It is understood that, except as provided below, certificates evidencing the Securities may bear the following or any similar
legend:

 

(a) “The
securities represented hereby may not be transferred unless (i) such securities have been registered for sale pursuant to the
Securities Act of 1933, as amended, (ii) such securities may be sold pursuant to Rule 144(i), or (iii) the Company has received
an opinion of counsel reasonably satisfactory to it that such transfer may lawfully be made without registration under the Securities
Act of 1933 or qualification under applicable state securities laws.”

 

(b) If
required by the authorities of any state in connection with the issuance of sale of the Securities, the legend required by such
state authority.

 

5.8 Accredited
Investor. Such Investor is an accredited investor as defined in Rule 501(a) of Regulation D, as amended, under the 1933 Act.

 

5.9 No
General Solicitation. Such Investor did not learn of the investment in the Securities as a result of any public advertising
or general solicitation.

 

5.10 Brokers
and Finders. No Person will have, as a result of the transactions contemplated by the Transaction Documents, any valid right,
interest or claim against or upon the Company, any Subsidiary or an Investor for any commission, fee or other compensation pursuant
to any agreement, arrangement or understanding entered into by or on behalf of such Investor.

 

6.
  Conditions to Closing.

 

6.1 Conditions
to the Investor’s Obligations. The obligation of the Investor to purchase the Note at Closing is subject to the fulfillment
to such Investor’s satisfaction, on or prior to the Closing Date, of the following conditions, any of which may be waived
by the Investor:

 

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(a) The
representations and warranties made by the Company in Section 4 hereof qualified as to materiality shall be true and correct at
all times prior to and on the Closing Date, except to the extent any such representation or warranty expressly speaks as of an
earlier date, in which case such representation or warranty shall be true and correct as of such earlier date, and, the representations
and warranties made by the Company in Section 4 hereof not qualified as to materiality shall be true and correct in all material
respects at all times prior to and on the Closing Date, except to the extent any such representation or warranty expressly speaks
as of an earlier date, in which case such representation or warranty shall be true and correct in all material respects as of
such earlier date. The Company shall have performed in all material respects all obligations and conditions herein required to
be performed or observed by it on or prior to the Closing Date.

 

(b) The
Company shall have obtained any and all consents, permits, approvals, registrations and waivers necessary or appropriate for consummation
of the purchase and sale of the Securities, and the consummation of the other transactions contemplated by the Transaction Documents,
all of which shall be in full force and effect.

 

(c) No
judgment, writ, order, injunction, award or decree of or by any court, or judge, justice or magistrate, including any bankruptcy
court or judge, or any order of or by any governmental authority, shall have been issued, and no action or proceeding shall have
been instituted by any governmental authority, enjoining or preventing the consummation of the transactions contemplated hereby
or in the other Transaction Documents.

 

(d) The
Company shall have executed and delivered the Convertible Note and supporting documentation.

 

(e) The
Company shall have executed and delivered the Irrevocable Transfer Agent Instructions.

 

(f) No
stop order or suspension of trading shall have been imposed by the public markets on which the Company’s common stock is
traded or quoted, the SEC or any other governmental or regulatory body with respect to public trading in the Common Stock.

 

6.2 Conditions
to Obligations of the Company. The Company’s obligation to sell and issue the Note at Closing is subject to the fulfillment
to the satisfaction of the Company on or prior to the Closing Date of the following conditions, any of which may be waived by
the Company:

 

(a) The
representations and warranties made by the Investor in Section 5 hereof, other than the representations and warranties contained
in Sections 5.3, 5.4, 5.5, 5.6, 5.7, 5.8 and 5.9 (the “Investment Representations”), shall be true and correct in
all material respects when made, and shall be true and correct in all material respects on the Closing Date with the same force
and effect as if they had been made on and as of said date. The Investment Representations shall be true and correct in all respects
when made, and shall be true and correct in all respects on the Closing Date with the same force and effect as if they had been
made on and as of said date. The Investor shall have performed in all material respects all obligations and conditions herein
required to be performed or observed by them on or prior to the Closing Date.

 

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(b) The
Investor shall have delivered the Purchase Price to the Company in accordance with the schedule outlined herein.

  

6.3 Termination
of Obligations to Effect Closing; Effects.

 

(a) The
obligations of the Company, on the one hand, and the Investor, on the other hand, to effect the Closing shall terminate as follows:

 

(i) Upon
the mutual written consent of the Company and the Investor;

 

(ii) By
the Company if any of the conditions set forth in Section 6.2 shall have become incapable of fulfillment, and shall not have been
waived by the Company;

 

(iii) By
the Investor if any of the conditions set forth in Section 6.1 shall have become incapable of fulfillment, and shall not have
been waived by the Investor; orprovided, however, that, except in the case of clause (i) above, the party seeking to terminate
its obligation to effect the Closing shall not then be in breach of any of its representations, warranties, covenants or agreements
contained in this Agreement or the other Transaction Documents if such breach has resulted in the circumstances giving rise to
such party’s seeking to terminate its obligation to effect the Closing.

 

7. Survival
and Indemnification.

 

7.1
Survival. The representations, warranties, covenants and agreements contained in this Agreement shall survive the Closing
of the transactions contemplated by this Agreement.

 

7.2
Indemnification. The Company agrees to indemnify and hold harmless each Investor and its Affiliates and their respective
directors, officers, employees and agents from and against any and all losses, claims, damages, liabilities and expenses (including
without limitation reasonable attorney fees and disbursements and other expenses incurred in connection with investigating, preparing
or defending any action, claim or proceeding, pending or threatened and the costs of enforcement thereof) (collectively, “Losses”)
to which such Person may become subject as a result of any breach of representation, warranty, covenant or agreement made by or
to be performed on the part of the Company under the Transaction Documents, and will reimburse any such Person for all such amounts
as they are incurred by such Person.

 

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7.3
Conduct of Indemnification Proceedings. Promptly after receipt by any Person (the “Indemnified
Person”) of notice of any demand, claim or circumstances which would or might give rise to a claim or the commencement of
any action, proceeding or investigation in respect of which indemnity may be sought pursuant to Section 7.2, such Indemnified
Person shall promptly notify the Company in writing and the Company shall assume the defense thereof, including the employment
of counsel reasonably satisfactory to such Indemnified Person, and shall assume the payment of all fees and expenses; provided,
however,that the failure of any Indemnified Person so to notify the Company shall not relieve the Company of its obligations
hereunder except to the extent that the Company is materially prejudiced by such failure to notify. In any such proceeding, any
Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense
of such Indemnified Person unless: (i) the Company and the Indemnified Person shall have mutually agreed to the retention of such
counsel; or (ii) in the reasonable judgment of counsel to such Indemnified Person representation of both parties by the same counsel
would be inappropriate due to actual or potential differing interests between them. The Company shall not be liable for any settlement
of any proceeding effected without its written consent, which consent shall not be unreasonably withheld, but if settled with
such consent, or if there be a final judgment for the plaintiff, the Company shall indemnify and hold harmless such Indemnified
Person from and against any loss or liability (to the extent stated above) by reason of such settlement or judgment. Without the
prior written consent of the Indemnified Person, which consent shall not be unreasonably withheld, the Company shall not affect
any settlement of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party
and indemnity could have been sought hereunder by such Indemnified Party, unless such settlement includes an unconditional release
of such Indemnified Person from all liability arising out of such proceeding.

 

8. Miscellaneous.

 

8.1 Successors
and Assigns. This Agreement may not be assigned by a party hereto without the prior written consent of the Company or the
Investor, as applicable, provided, however, that an Investor may assign its rights and delegate its duties hereunder in whole
or in part to an Affiliate or to a third party acquiring some or all of its Securities in a private transaction without the prior
written consent of the Company, after notice duly given by such Investor to the Company. The provisions of this Agreement shall
inure to the benefit of and be binding upon the respective permitted successors and assigns of the parties. Nothing in this Agreement,
express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns
any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

 

8.2 Counterparts;
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. This Agreement may also be executed via facsimile, which shall be deemed an original.

 

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8.3 Titles
and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered
in construing or interpreting this Agreement.

 

8.4 Notices.
Unless otherwise provided, any notice required or permitted under this Agreement shall be given in writing and shall be deemed
effectively given as hereinafter described (i) if given by personal delivery, then such notice shall be deemed given upon such
delivery, (ii) if given by fax, then such notice shall be deemed given upon receipt of confirmation of complete transmittal, (iii)
if given by mail, then such notice shall be deemed given upon the earlier of (A) receipt of such notice by the recipient or (B)
three days after such notice is deposited in first class mail, postage prepaid, and (iv) if given by an internationally recognized
overnight air courier, then such notice shall be deemed given one business day after delivery to such carrier. All notices shall
be addressed to the party to be notified at the address as follows, or at such other address as such party may designate by ten
days’ advance written notice to the other party:

 

If
to the Company:

 

Algae
Dynamics Corp._

4120
Ridgeway Dr., Unit 37

Mississauga,
Ontario L5L 5S9 Canada

Attn:
Paul Ramsay

Fax:
416-352-5712

Tel:
416-704-3040

 

If
to the Investor:

 

GHS
Investments, LLC

200
Stonehinge Lane, Suite 3

Carle
Place, NY 11514

 

8.5 Expenses.
The parties hereto shall pay their own costs and expenses in connection herewith. In the event that legal proceedings are commenced
by any party to this Agreement against another party to this Agreement in connection with this Agreement or the other Transaction
Documents, the party or parties which do not prevail in such proceedings shall severally, but not jointly, pay their pro rata
share of the reasonable attorneys’ fees and other reasonable out-of-pocket costs and expenses incurred by the prevailing
party in such proceedings.

 

8.6 Amendments
and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either
generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company
and the Investor. Any amendment or waiver effected in accordance with this paragraph shall be binding upon each holder of any
Securities purchased under this Agreement at the time outstanding, each future holder of all such Securities, and the Company.

 

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8.7 Severability.
Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof but shall be interpreted
as if it were written so as to be enforceable to the maximum extent permitted by applicable law, and any such prohibition or unenforceability
in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. To the extent permitted
by applicable law, the parties hereby waive any provision of law which renders any provision hereof prohibited or unenforceable
in any respect.

 

8.8 Entire
Agreement. This Agreement, including the Exhibits and the Disclosure Schedules, and the other Transaction Documents constitute
the entire agreement among the parties hereof with respect to the subject matter hereof and thereof and supersede all prior agreements
and understandings, both oral and written, between the parties with respect to the subject matter hereof and thereof.

 

8.9 Further
Assurances. The parties shall execute and deliver all such further instruments and documents and take all such other actions
as may reasonably be required to carry out the transactions contemplated hereby and to evidence the fulfillment of the agreements
herein contained.

 

8.10 Governing
Law; Consent to Jurisdiction; Waiver of Jury Trial. This Agreement shall be governed by, and construed in accordance with,
the internal laws of the State of Nevada, without regard to principles of conflicts of law. Each of the parties hereto irrevocably
submit to the exclusive jurisdiction of any United States Federal court sitting in New York State over any action or proceeding
arising out of or relating to this Agreement and the parties hereto hereby irrevocably agree that all claims in respect of such
action or proceeding may be heard and determined in such Federal court. The parties hereto agree that a final judgment in any
such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other
manner provided by law. The parties hereto further waive any objection to venue in the State of New York and any objection to
an action or proceeding in the State of New York on the basis of forum non conveniens.

 

[signature
page follows]

 

    	-12- 

    	 		 

    

 

IN
WITNESS WHEREOF, the parties have executed this Agreement or caused their duly authorized officers to execute this Agreement as
of the date first above written.

 

	The
    Company:	Algae
    Dynamics Corp. 
	 	 	 
	 	By:	/s/
    Paul     Ramsay
	 	Name:	Paul
    Ramsay
	 	Title:	President

 

	The
    Investor:	GHS
    Investments, LLC. 
	 	 	 
	 	By:	/s/
    Safraz Hajee
	 	 	Member

 

    	-13-Exhibit 10.1

 

SUBSCRIPTION AGREEMENT

 

Yatra Online, Inc.

1101-03, 11th Floor, Tower-B

Unitech Cyber Park

Sector 39, Gurgaon, Haryana 122002

India

 

Ladies and Gentlemen:

 

Subject to the terms
and conditions set forth herein, the undersigned proposes to purchase the Ordinary Shares, par value $0.0001 per share (the “Shares”),
from Yatra Online, Inc., a Cayman Islands exempted company limited by shares (the “Company”) for a purchase
price of $10.00 per share. In connection therewith, the undersigned and the Company agree as follows:

 

1.                 
The undersigned hereby irrevocably subscribes for and agrees to purchase from the Company such number of Shares as is set
forth on the signature page of this Subscription Agreement on the terms provided for herein. The undersigned understands and agrees
that the Company reserves the right to accept or reject the undersigned’s subscription for the Shares for any reason or for
no reason, in whole or in part, at any time prior to its acceptance by the Company, and the same shall be deemed to be accepted
by the Company only when this Subscription Agreement is signed by a duly authorized person by or on behalf of the Company; the
Company may do so in counterpart form. In the event of rejection of the entire subscription by the Company or the termination of
this subscription in accordance with the terms hereof, the undersigned’s payment hereunder will be returned promptly to the
undersigned along with this Subscription Agreement, and this Subscription Agreement shall have no force or effect. In the event
that the Company rejects the subscription in part, the undersigned may terminate this Subscription Agreement by providing notice
to the Company within one business day of receiving notification that its subscription was rejected in part.

 

2.                 
The closing of the sale of Shares contemplated hereby (the “Closing”) is contingent upon the consummation
of the Company’s proposed business combination (the “Transaction”) with Terrapin 3 Acquisition Corporation,
a Delaware corporation (“Terrapin 3”). The Company intends to hold the Closing immediately following the closing
of the Transaction. Upon (i) satisfaction of the conditions set forth in Section 3 below and (ii) not less than three (3) business
days’ written notice from (or on behalf of) the Company to the undersigned (the “Closing Notice”), that
the Company reasonably expects all conditions to the closing of the Transaction to be satisfied on a date that is not less than
five (5) business days from the date of the Closing Notice, the undersigned shall deliver to the Company on the closing date specified
in the Closing Notice (the “Closing Date”) the subscription amount for the Shares subscribed by wire transfer
of United States dollars in immediately available funds to the account set forth on Exhibit A attached hereto (or such other
account specified by the Company in the Closing Notice) against delivery to the undersigned of the Shares in book entry form as
set forth in the following sentence. The Company shall deliver (or cause the delivery of) the Shares in book entry form to the
undersigned or to a custodian designated by undersigned, as applicable, as indicated below. This Subscription Agreement shall terminate
and be of no further force or effect, without any liability to either party hereto, if the Company notifies the undersigned in
writing that it has abandoned its plans to move forward with the Transaction and/or terminates the undersigned’s obligations
without the delivery of the Shares having occurred.

 

     
 

     

    

 

3.                 
The Closing is also subject to the closing condition that, on the Closing Date, no suspension of the qualification of the
Shares for offering or sale or trading in any jurisdiction, or initiation or threatening of any proceedings for any of such purposes,
shall have occurred.

 

4.                 
The undersigned acknowledges and agrees that, without the prior written consent of the Company, during the period commencing
on the Closing Date and continuing until the expiration of the ninety (90) day period commencing on the date of the closing of
the Transaction, the undersigned shall not (a) sell, assign, transfer (including by operation of law), incur any liens, charges,
security interests, options, claims, mortgages, pledges, proxies, voting trusts or agreements, obligations, understandings or arrangements
or other restrictions on title or transfer of any nature whatsoever, dispose of or otherwise encumber (each, a “Transfer”),
(b) make any short sale of, grant any option for the purchase of, or (c) enter into any hedging or similar transaction with the
same economic effect as a Transfer of, any of the Shares. The Company may impose stop-transfer instructions and may stamp each
certificate representing the Shares with an appropriate legend to enforce the provisions of the foregoing sentence. Any purported
Transfer or other transaction in violation of this Section 4 shall be null and void.

 

5.                 
The undersigned is (i) a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of
1933, as amended (the “Securities Act”)) or (ii) an “accredited investor” (within the meaning of
Rule 501(a) under the Securities Act), in each case, satisfying the requirements set forth on Schedule A, and is acquiring
the Shares only for his, her or its own account and not for the account of others, and not on behalf of any other account or person
or with a view to, or for offer or sale in connection with, any distribution thereof in violation of the Securities Act (and shall
provide the requested information on Schedule A following the signature page hereto). The undersigned is not an entity formed
for the specific purpose of acquiring the Shares.

 

6.                 
The Company represents and warrants that:

 

		a.	The Company has been duly incorporated, is validly existing and is in good standing under the laws
of the Cayman Islands, with corporate power and authority to own, lease and operate its properties and conduct its business as
presently conducted.

 

		b.	The Shares have been duly authorized and, when issued and delivered to the undersigned against
full payment therefor in accordance with the terms of this Subscription Agreement, the Shares will be validly issued, fully paid
and non-assessable and will not have been issued in violation of or subject to any preemptive or similar rights created under the
Company’s Articles of Association or under the law of the Cayman Islands.

 

		c.	This Subscription Agreement has been duly authorized, executed and delivered by the Company and
is enforceable in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent
conveyance, reorganization, moratorium or other laws relating to or affecting the rights of creditors generally, and (ii) principles
of equity, whether considered at law or equity.

 

    	 	2	 

     

    

 

		d.	The issuance and sale of the Shares and the compliance by the Company with all of the provisions
of this Subscription Agreement and the consummation of the transactions herein will not conflict with or result in a breach or
violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien,
charge or encumbrance upon any of the property or assets of the Company or any of its subsidiaries pursuant to the terms of (i)
any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which the Company or
any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property
or assets of the Company is subject, which would have a material adverse effect on the business, properties, financial condition,
stockholders’ equity or results of operations of the Company (a “Material Adverse Effect”) or affect the
validity of the Shares or the legal authority of the Company to comply with the terms of this Subscription Agreement; (ii) result
in any violation of the provisions of the organizational documents of the Company or any of its subsidiaries; or (iii) result in
any violation of any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or
foreign, having jurisdiction over the Company or any of its subsidiaries or any of its properties which would have a Material Adverse
Effect or affect the validity of the Shares or the legal authority of the Company to comply with this Subscription Agreement; subject,
in the case of the foregoing clauses (i) and (iii) with respect to the consummation of the transactions therein contemplated.

 

7.                 
The undersigned understands that the Shares are being offered in a transaction not involving any public offering within
the meaning of the Securities Act and that the Shares have not been registered under the Securities Act. The undersigned understands
that the Shares may not be resold, transferred, pledged or otherwise disposed of by the undersigned absent an effective registration
statement under the Securities Act except (i) to the Company or a subsidiary thereof, (ii) to non-U.S. persons pursuant to offers
and sales that occur outside the United States within the meaning of Regulation S under the Securities Act or (iii) pursuant to
another applicable exemption from the registration requirements of the Securities Act, and in each of cases (i) and (iii) in accordance
with any applicable securities laws of the states and other jurisdictions of the United States, and that any certificates representing
the Shares shall contain a legend to such effect. The undersigned acknowledges that the Shares will not be eligible for resale
pursuant to Rule 144 promulgated under the Securities Act. The undersigned understands and agrees that the Shares will be subject
to transfer restrictions and, as a result of these transfer restrictions, the undersigned may not be able to readily resell the
Shares and may be required to bear the financial risk of an investment in the Shares for an indefinite period of time. The undersigned
understands that it has been advised to consult legal counsel prior to making any offer, resale, pledge or transfer of any of the
Shares.

 

    	 	3	 

     

    

 

8.                 
The Company agrees that, within 30 days after the Closing Date, the Company will file with the Securities and Exchange Commission
(the “SEC”) a registration statement registering (among other securities) the resale of the Shares (the “Registration
Statement”), and the Company shall use its commercially reasonable efforts to have the Registration Statement declared
effective as soon as practicable after the filing thereof; provided, however, that the Company’s obligations to include the
Shares in the Registration Statement are contingent upon the undersigned furnishing in writing to the Company such information
regarding the undersigned, the securities of the Company held by the undersigned and the intended method of disposition of the
Shares as shall be reasonably requested by the Company to effect the registration of the Shares, and shall execute such documents
in connection with such registration as the Company may reasonably request that are customary of a selling stockholder in similar
situations.

 

9.                 
The undersigned understands and agrees that the undersigned is purchasing Shares directly from the Company. The undersigned
further acknowledges that there have been no representations, warranties, covenants and agreements made to the undersigned by the
Company, or its officers or directors, expressly or by implication, other than those representations, warranties, covenants and
agreements included in this Subscription Agreement.

 

10.             
The undersigned represents and warrants that its acquisition and holding of the Shares will not constitute or result in
a non-exempt prohibited transaction under Section 406 of the Employee Retirement Income Security Act of 1974, as amended, Section
4975 of the Internal Revenue Code of 1986, as amended (the “Code”), or any applicable similar law (a “Prohibited
Transaction”).

 

11.             
The undersigned acknowledges and agrees that the undersigned has received such information as the undersigned deems necessary
in order to make an investment decision with respect to the Shares. Without limiting the generality of the foregoing, the undersigned
acknowledges that it has reviewed the documents provided to the undersigned by the Company and listed on Schedule B hereto
(the “Disclosure Package”). The undersigned represents and agrees that the undersigned and the undersigned’s
professional advisor(s), if any, have had the full opportunity to ask such questions, receive such answers and obtain such information
as the undersigned and such undersigned’s professional advisor(s), if any, have deemed necessary to make an investment decision
with respect to the Shares. The undersigned further acknowledges that the information contained in the Disclosure Package is preliminary
and subject to change, and that any changes to the information contained in the Disclosure Package, including, without limitation,
any changes based on updated information or changes in terms of the Transaction, shall in no way affect the undersigned’s
obligation to purchase the Shares hereunder.

 

12.             
The undersigned became aware of this offering of the Shares solely by means of direct contact between the undersigned and
the Company, and the Shares were offered to the undersigned solely by direct contact between the undersigned and the Company. The
undersigned did not become aware of this offering of the Shares, nor were the Shares offered to the undersigned, by any other means.
The undersigned acknowledges that the Company represents and warrants that the Shares (i) were not offered by any form of general
solicitation or general advertising and (ii) are not being offered in a manner involving a public offering under, or in a distribution
in violation of, the Securities Act, or any state securities laws.

 

    	 	4	 

     

    

 

13.             
The undersigned acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of
the Shares, including those set forth in the Disclosure Package.

 

14.             
The undersigned has such knowledge and experience in financial and business matters as to be capable of evaluating the merits
and risks of an investment in the Shares, and the undersigned has sought such accounting, legal and tax advice as the undersigned
has considered necessary to make an informed investment decision.

 

15.             
Alone, or together with any professional advisor(s), the undersigned represents and acknowledges that the undersigned has
adequately analyzed and fully considered the risks of an investment in the Shares and determined that the Shares are a suitable
investment for the undersigned and that the undersigned is able at this time and in the foreseeable future to bear the economic
risk of a total loss of the undersigned’s investment in the Company. The undersigned acknowledges specifically that a possibility
of total loss exists.

 

16.             
In making its decision to purchase the Shares, the undersigned represents that it has relied solely upon independent investigation
made by the undersigned.

 

17.             
The undersigned understands and agrees that no federal or state agency has passed upon or endorsed the merits of the offering
of the Shares or made any findings or determination as to the fairness of this investment.

 

18.             
The execution, delivery and performance by the undersigned of this Subscription Agreement are within the powers of the undersigned,
have been duly authorized and will not constitute or result in a breach or default under or conflict with any order, ruling or
regulation of any court or other tribunal or of any governmental commission or agency, or any agreement or other undertaking, to
which the undersigned is a party or by which the undersigned is bound, and, if the undersigned is not an individual, will not violate
any provisions of the undersigned’s charter documents, including, without limitation, its incorporation or formation papers,
bylaws, indenture of trust or partnership or operating agreement, as may be applicable. The signature on this Subscription Agreement
is genuine, and the signatory, if the undersigned is an individual, has legal competence and capacity to execute the same or, if
the undersigned is not an individual the signatory has been duly authorized to execute the same, and this Subscription Agreement
constitutes a legal, valid and binding obligation of the undersigned, enforceable against the undersigned in accordance with its
terms.

 

19.             
Neither the due diligence investigation conducted by the undersigned in connection with making its decision to acquire the
Shares nor any representations and warranties made by the undersigned herein shall modify, amend or affect the undersigned's right
to rely on the truth, accuracy and completeness of the Company's representations and warranties contained herein.

 

    	 	5	 

     

    

 

20.             
The undersigned represents and warrants that the undersigned is not (i) a person or entity named on the List of Specially
Designated Nationals and Blocked Persons administered by the U.S. Treasury Department’s Office of Foreign Assets Control
(“OFAC”) or in any Executive Order issued by the President of the United States and administered by OFAC (“OFAC
List”), or a person or entity prohibited by any OFAC sanctions program, (ii) a Designated National as defined in the
Cuban Assets Control Regulations, 31 C.F.R. Part 515, or (iii) a non-U.S. shell bank or providing banking services indirectly to
a non-U.S. shell bank (collectively, a “Prohibited Investor”). The undersigned agrees to provide law enforcement
agencies, if requested thereby, such records as required by applicable law, provided that the undersigned is permitted to do so
under applicable law. The undersigned represents that if it is a financial institution subject to the Bank Secrecy Act (31 U.S.C.
Section 5311 et seq.) (the “BSA”), as amended by the USA PATRIOT Act of 2001 (the “PATRIOT Act”),
and its implementing regulations (collectively, the “BSA/PATRIOT Act”), that the undersigned maintains policies
and procedures reasonably designed to comply with applicable obligations under the BSA/PATRIOT Act.  The undersigned also
represents that, to the extent required, it maintains policies and procedures reasonably designed for the screening of its investors
against the OFAC sanctions programs, including the OFAC List. The undersigned further represents and warrants that, to the extent
required, it maintains policies and procedures reasonably designed to ensure that the funds held by the undersigned and used to
purchase the Shares were legally derived.

 

21.             
Neither this Subscription Agreement nor any rights that may accrue to the undersigned hereunder (other than the Shares acquired
hereunder, if any) may be transferred or assigned.

 

22.             
The Company may request from the undersigned such additional information as the Company may deem necessary to evaluate the
eligibility of the undersigned to acquire the Shares, and the undersigned shall provide such information as may reasonably be requested,
to the extent readily available and to the extent consistent with its internal policies and procedures.

 

23.             
The undersigned acknowledges that the Company and others will rely on the acknowledgments, understandings, agreements, representations
and warranties contained in this Subscription Agreement. Prior to the Closing, the undersigned agrees to promptly notify the Company
if any of the acknowledgments, understandings, agreements, representations and warranties set forth herein are no longer accurate.
The undersigned agrees that each purchase by the undersigned of Shares from the Company will constitute a reaffirmation of the
acknowledgments, understandings, agreements, representations and warranties herein (as modified by any such notice) by the undersigned
as of the time of such purchase.

 

24.             
The Company is entitled to rely upon this Subscription Agreement and is irrevocably authorized to produce this Subscription
Agreement or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to
the matters covered hereby.

 

25.             
The Company shall not publicly disclose the name of any undersigned or any affiliate or investment adviser of the undersigned,
or include the name of any undersigned or any affiliate of the undersigned in any filing with the SEC (other than in any filings
made in respect of this transaction or in accordance with periodic filing requirements under the Securities Exchange Act of 1934,
as amended, or in connection with the registration statement that the Company is required to file pursuant to the terms of this
Subscription Agreement, in each case to the extent such disclosure is required by law or regulations) or any regulatory agency,
without the prior written consent of such undersigned, except to the extent such disclosure is required by law or regulations,
in which case the Company shall provide the undersigned with prior notice of such disclosure, to the extent such notice is practicable.

 

    	 	6	 

     

    

 

26.             
Other than with respect to the transactions contemplated herein, since the time that the undersigned was first contacted
by the Company or any other Person regarding the transactions contemplated hereby, neither the undersigned nor any affiliate of
the undersigned has directly or indirectly, nor has any person or entity acting on behalf of or pursuant to any understanding with
the undersigned, effected or agreed to effect any purchases or sales of the securities of Terrapin 3 (including, without limitation,
any short sales involving Terrapin 3’s securities). “Short Sales” includes, without limitation, (i) all
“short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act, whether or not against
the box, and all types of direct and indirect stock pledges, forward sale contracts, options, puts, calls, short sales, swaps,
“put equivalent positions” (as defined in Rule 16a-1(h) under the Securities Exchange Act or 1934, as amended) and
similar arrangements (including on a total return basis), and (ii) sales and other transactions through non-U.S. broker dealers
or foreign regulated brokers.

 

THIS SUBSCRIPTION
AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE PRINCIPLES
OF CONFLICTS OF LAWS THAT WOULD OTHERWISE REQUIRE THE APPLICATION OF THE LAW OF ANY OTHER STATE.

 

    	 	7	 

     

    

 

IN WITNESS WHEREOF,
the undersigned has executed or caused this Subscription Agreement to be executed by its duly authorized representative as of the
date set forth below.

 

	Signature of Investor:	Signature of Joint Investor, if applicable:
	 	 
	Name of Investor	Name of Joint Investor, if applicable:
	 	 
	(Please print. Please indicate name and capacity of person signing above) 	(Please Print.  Please indicate name and capacity of person signing above)
	 	 
	Name in  which shares are to be registered (if different):	Date: ______________, 2016 

	 	 
	Email Address:	 
	 	 
	 	 

If there are joint investors, please check
one:

 

 ̈Joint
Tenants with Rights of Survivorship

 

 ̈Tenants-in-Common

 

 ̈Community
Property

 

    	 	8	 

     

    

 

 

	Investor’s EIN:	Joint Investor’s EIN:
	 	 
	Business Address-Street:	Mailing Address-Street (if different):
	 	 
	City, State, Zip:	City, State, Zip:
	 	 
	Attn:__________________	Attn:__________________
	 	 
	Telephone No.:	Telephone No.:
	 	 
	Facsimile No.:	Facsimile No.:
	 	 
	Number of Shares subscribed for:	 
	 	 
	Aggregate Subscription Amount: $	Price Per Share: $10.00

 

You must pay the Subscription
Amount by wire transfer of United States dollars in immediately available funds to the account set forth on Exhibit A attached
hereto (or to such other account specified by the Company in the Closing Notice). To the extent the offering is oversubscribed,
the number of Shares received may be less than the number of Shares subscribed for.

  

    	 	9	 

     

    

 

IN WITNESS WHEREOF,
Yatra Online, Inc. has accepted this Subscription Agreement as of the date set forth below.

 

 

	 	YATRA ONLINE, INC.
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

  

Date:                        , 2016

 

 

    	 	10	 

     

    

 

SCHEDULE A

ELIGIBILITY REPRESENTATIONS OF THE INVESTOR

 

A.        QUALIFIED
INSTITUTIONAL BUYER STATUS

(Please check the applicable
subparagraphs):

 

		 ̈	The Investor is a “qualified institutional buyer” (as defined in Rule 144A under the
Securities Act).

 

B.        ACCREDITED
INVESTOR STATUS

:

 

		 ̈	The Investor is an “accredited investor” (within the meaning of Rule 501(a) under the
Securities Act) for one or more of the following reasons (Please check the applicable subparagraphs):

 

		 ̈	The Investor is an individual (not a partnership, corporation,
etc.) whose individual net worth (excess of total assets at fair market value, including homes, automobiles and personal property,
over total liabilities), or joint net worth with his or her spouse, presently exceeds US$1,000,000. The undersigned further certifies
that all liabilities necessary to make a determination of net worth will be disclosed.

 

		 ̈	The Investor is an individual (not a partnership, corporation,
etc.) who had an income in excess of US$200,000 in each of the two (2) most recent years, or joint income with his or her spouse
in excess of US$300,000 in each of those years (in each case including foreign income, tax exempt income and full amount of capital
gains and losses but excluding any income of other family members and any unrealized capital appreciation) and has a reasonable
expectation of reaching the same income level in the current year.

 

		 ̈	The Investor is a bank, as defined in Section 3(a)(2)
of the Securities Act or any savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities
Act, whether acting in an individual or a fiduciary capacity.

 

		 ̈	The Investor is a broker or dealer registered under
Section 15 of the Securities Exchange Act of 1934, as amended.

 

		 ̈	The Investor is an insurance company, as defined in
Section 2(13) of the Securities Act.

 

		 ̈	The Investor is an investment company registered under
the Investment Company Act of 1940 or a business development company, as defined in Section 2(a)(48) of that act.

 

		 ̈	The Investor is a Small Business Investment Company
licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958.

 

		 ̈	The Investor is a plan established and maintained by
a state, its political subdivisions or any agency or instrumentality of a state or its political subdivisions for the benefit
of its employees, if the plan has total assets in excess of $5 million.

 

    	 	Schedule A	 

     

    

 

		 ̈	The Investor is an employee benefit plan within the
meaning of Title I of the Employee Retirement Income Security Act of 1974, if the investment decision is being made by a plan
fiduciary, as defined in Section 3(21) of such act, and the plan fiduciary is either a bank, an insurance company, or a registered
investment adviser, or if the employee benefit plan has total assets in excess of $5 million.

 

		 ̈	The Investor is a private business development company,
as defined in Section 202(a)(22) of the Investment Advisers Act of 1940.

 

		 ̈	The Investor is a corporation, Massachusetts or similar
business trust, or partnership, or an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended,
that was not formed for the specific purpose of acquiring the Securities, and that has total assets in excess of $5 million.

 

		 ̈	The Investor is a trust with total assets in excess
of $5 million not formed for the specific purpose of acquiring the Securities, whose purchase is directed by a sophisticated person
as described in Rule 506(b)(2)(ii) under the Securities Act.

 

		 ̈	The Investor is an entity in which all of the equity
owners are accredited investors.

  

C.        AFFILIATE
STATUS

 

(Please check the applicable
box)

 

THE INVESTOR:

 

		 ̈	is:

 

		 ̈	is not:

 

an
“affiliate” (as defined in Rule 144 under the Securities Act) of the Company or acting on behalf of an affiliate of
the Company.

 

This page should
be completed by the Investor and constitutes a part of the Subscription Agreement.

 

    	 	Schedule A	 

     

    

 

 

SCHEDULE B

DISCLOSURE PACKAGE

 

 

 

    	 	Schedule B	 

     

    

 

 

Exhibit A

 

Wire Transfer Instructions

 

 

 

    	 	Exhibit A

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