Common use of Acknowledgement of Canadian Resale Restrictions Clause in Contracts

Acknowledgement of Canadian Resale Restrictions. The Lender acknowledges and agrees that the Company is an “OTC reporting issuer” as that term is defined in MI 51-105, and that the Securities will be, issued and sold pursuant to exemptions from the prospectus requirements of applicable Canadian securities laws. The Lender further acknowledges and agrees that the Securities may not be traded in or from a jurisdiction in Canada unless such trade is made in accordance with the provisions of MI 51-105, the Lender will, and will cause its Affiliates to, comply with such conditions in making any trade of the Securities in or from a jurisdiction in Canada and the Company will refuse to register any transfer of the Securities made in connection with a trade of the Securities in or from a jurisdiction in Canada and not made in accordance with the provisions of MI 51-105. Notwithstanding the generality of the forgoing, as of the date hereof, MI 51-105 generally provides that the Securities may not be traded in or from a jurisdiction in Canada unless the following conditions have been met:

Acknowledgement of Canadian Resale Restrictions. The Lender Inventor acknowledges and agrees that the Company is an “OTC reporting issuer” as that term is defined in MI 51-105, and that the Securities Released Share will be, issued and sold pursuant to exemptions from the prospectus requirements of applicable Canadian securities laws. The Lender Inventor further acknowledges and agrees that the Securities Released Shares may not be traded in or from a jurisdiction in Canada unless such trade is made in accordance with the provisions of MI 51-105, the Lender will, and Inventor will cause its Affiliates to, comply with such conditions in making any trade of the Securities Released Shares in or from a jurisdiction in Canada and the Company will refuse to register any transfer of the Securities Released Shares made in connection with a trade of the Securities Released Shares in or from a jurisdiction in Canada and not made in accordance with the provisions of MI 51-105. Notwithstanding the generality of the forgoing, as of the date hereof, MI 51-105 generally provides that the Securities Released Shares may not be traded in or from a jurisdiction in Canada unless the following conditions have been met: