Contract
THIS
PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT (THE "SUBSCRIPTION AGREEMENT") RELATES
TO AN OFFERING OF SECURITIES IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE
NOT
U.S. PERSONS (AS DEFINED HEREIN) PURSUANT TO REGULATION S UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT").
NONE
OF THE SECURITIES TO WHICH THIS SUBSCRIPTION AGREEMENT RELATES HAVE BEEN
REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS
SO
REGISTERED, NONE MAY BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED
STATES OR TO U.S. PERSONS (AS DEFINED HEREIN) EXCEPT IN ACCORDANCE WITH THE
PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION
FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF
THE
1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES
AND PROVINCIAL LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES
MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933
ACT.
SUBSCRIPTION
AGREEMENT
(Non-US
Investors)
THIS
SUBSCRIPTION AGREEMENT
made as
of this ______ day
of
______________,
2007
between VANTECH
PLASTICS CORP.
(the
“Company”), a British Columbia corporation, and the undersigned
(the “Subscriber”).
WHEREAS:
A. The
Company desires to issue a maximum of _______________ shares
of
common stock of the Company at a price of US$______ per share (the “Offering”)
in order to finance its business plan; and
B. The
Subscriber desires to acquire the number of common shares of the Offering,
as
set forth below, on the terms and subject to the conditions of this Subscription
Agreement.
NOW
THEREFORE THIS SUBSCRIPTION AGREEMENT witnesses that,
for
good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree as follows:
1.
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Subscription
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1.1 The
Subscriber hereby irrevocably subscribes for and agrees to purchase
__________ common
shares in the capital of the Company (the "Shares") at a price of US$______
per
Share (such subscription and agreement to purchase being the "Subscription"),
for the total purchase price of US$______
(the
"Subscription Proceeds"), which is tendered herewith, on the basis of the
representations and warranties and subject to the terms and conditions set
forth
herein.
1.2 Subject
to the terms hereof, the Subscription will be effective upon its acceptance
by
the Company. Any acceptance by the Company of the Subscription is conditional
upon compliance with all securities laws and other applicable laws of the
jurisdiction in which the Subscriber is resident.
2.
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Payment
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2.1 The
Subscription Proceeds must accompany this Subscription and shall be paid by
cash
or cheque or bank draft drawn on a major Canadian or U.S. chartered bank made
payable to the Company and delivered to the Company or its lawyers or may be
wired directly to either one of them. If the Subscription proceeds are delivered
to the Company's lawyers, the Subscriber authorizes the Company's lawyers to
deliver the Subscription Proceeds to the Company on the Closing Date.
2.2 The
Subscriber acknowledges and agrees that this Subscription Agreement, the
Subscription Proceeds and any other documents delivered in connection herewith
will be held by the Company's lawyers on behalf of the Company. In the event
that this Subscription Agreement is not accepted by the Company for whatever
reason within 30 days of the delivery of an executed Subscription Agreement
by
the Subscriber, this Subscription Agreement, the Subscription Proceeds and
any
other documents delivered in connection herewith will be returned to the
Subscriber at the address of the Subscriber as set forth in this Subscription
Agreement.
2.3 Where
the
Subscription Proceeds are paid to the Company, the Company is entitled to treat
such Subscription Proceeds as an interest free loan to the Company until such
time as the Subscription is accepted and the certificates representing the
Shares have been issued to the Subscriber.
3.
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Documents
Required from
Subscriber
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3.1 The
Subscriber must complete, sign and return to the Company two (2) executed copies
of this Subscription Agreement.
3.2 The
Subscriber shall complete, sign and return to the Company as soon as possible,
on request by the Company, any documents, questionnaires, notices and
undertakings as may be required by any regulatory authorities, stock exchanges,
or applicable laws.
4.
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Closing
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4.1 Closing
of the offering of the Shares (the "Closing") shall occur on or before
_____________, 2007, or on such other date as may be determined by the Company
(the "Closing Date").
5.
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Acknowledgements
of Subscriber
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5.1 The
Subscriber acknowledges and agrees that:
(a)
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none
of the Shares have been or will be registered under the 1933 Act,
or under
any state securities or "blue sky" laws of any state of the United
States,
and, unless so registered, may not be offered or sold in the United
States
or, directly or indirectly, to U.S. Persons, as that term is defined
in
Regulation S under the 1933 Act ("Regulation S"), except in accordance
with the provisions of Regulation S, pursuant to an effective registration
statement under the 1933 Act, or pursuant to an exemption from, or
in a
transaction not subject to, the registration requirements of the
1933 Act
and in each case only in accordance with any applicable state securities
and provincial laws;
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(b)
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the
Company has not undertaken, and will have no obligation, to register
any
of the Shares under the 1933 Act or qualify any of the Shares under
any
state or provincial securities
laws;
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(c)
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the
Subscriber has received and carefully read this Subscription
Agreement;
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(d)
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the
decision to execute this Subscription Agreement and purchase the
Shares
agreed to be purchased hereunder has not been based upon any oral
or
written representation as to fact or otherwise made by or on behalf
of the
Company;
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(e)
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the
Subscriber and the Subscriber's advisor(s) have had a reasonable
opportunity to ask questions of and receive answers from the Company
in
connection with the Offering, and to obtain additional information,
to the
extent possessed or obtainable by the Company without unreasonable
effort
or expense;
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(f)
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the
books and records of the Company were available upon reasonable notice
for
inspection, subject to certain confidentiality restrictions, by
Subscribers during reasonable business hours at its principal place
of
business and that all documents, records and books in connection
with the
Offering have been made available for inspection by the Subscriber,
the
Subscriber's attorney and/or
advisor(s);
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(g)
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the
Company is entitled to rely on the representations and warranties
of the
Subscriber contained in this Subscription Agreement and the Subscriber
will hold harmless the Company from any loss or damage it or they
may
suffer as a result of the Subscriber's failure to correctly complete
this
Subscription Agreement;
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(h)
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the
Subscriber will indemnify and hold harmless the Company and, where
applicable, its respective directors, officers, employees, agents,
advisors and shareholders from and against any and all loss, liability,
claim, damage and expense whatsoever (including, but not limited
to, any
and all fees, costs and expenses whatsoever reasonably incurred in
investigating, preparing or defending against any claim, lawsuit,
administrative proceeding or investigation whether commenced or
threatened) arising out of or based upon any representation or warranty
of
the Subscriber contained herein or in any document furnished by the
Subscriber to the Company in connection herewith being untrue in
any
material respect or any breach or failure by the Subscriber to comply
with
any covenant or agreement made by the Subscriber to the Company in
connection therewith;
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(i)
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the
Subscriber has been advised to consult the Subscriber’s own legal, tax and
other advisors with respect to the merits and risks of an investment
in
the Shares and with respect to applicable resale restrictions and
the
Subscriber is solely responsible (and the Company is not in any way
responsible) for compliance with applicable resale
restrictions;
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(j)
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there
is no market for the Shares, no market for the Shares may ever exist
and
none of the Shares are listed on any stock exchange or automated
dealer
quotation system and no representation has been made to the Subscriber
that any of the Shares will become listed on any stock exchange or
automated dealer quotation system;
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(k)
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the
Company is a “private issuer” as that term is defined in National
Instrument (“NI 45-106”), as adopted by the British Columbia Securities
Commission, and as such, until the Company ceases to be a “private
issuer”:
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(i)
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the
securities of the Company cannot be transferred without the previous
consent of the Company’s board of directors, expressed by resolution of
the board, at their sole discretion;
and
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(ii)
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there
are restrictions on the number of shareholders of the
Company;
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(l)
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the
Subscriber is acquiring the Shares pursuant to an exemption from
the
registration and prospectus requirements of applicable securities
legislation in all jurisdictions relevant to this Subscription, and,
as a
consequence, the Subscriber will not be entitled to use most of the
civil
remedies available under applicable securities legislation and the
Subscriber will not receive information that would otherwise be required
to be provided to the Subscriber pursuant to applicable securities
legislation;
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(m)
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the
Subscriber has been advised that the business of the Company is in
a
start-up phase and acknowledges that there is no assurance that the
Company will raise sufficient funds to adequately capitalize the
business
or that the business will be profitable in the
future;
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(n)
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the
Company is not a reporting issuer in any Canadian province and
accordingly, resale of any of the Shares in Canada is restricted
except
pursuant to an exemption from applicable securities
legislation;
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(o)
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neither
the SEC nor any other securities commission or similar regulatory
authority has reviewed or passed on the merits of the
Shares;
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(p)
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no
documents in connection with the Offering have been reviewed by the
SEC or
any state securities administrators;
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(q)
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there
is no government or other insurance covering any of the
Shares;
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(r)
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the
issuance and sale of the Shares to the Subscriber will not be completed
if
it would be unlawful or if, in the discretion of the Company acting
reasonably, it is not in the best interests of the
Company;
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(s)
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the
statutory and regulatory basis for the exemption claimed for the
offer and
sale of the Shares, although in technical compliance with Regulation
S,
would not be available if the offering is part of a plan or scheme
to
evade the registration provisions of the 1933 Act;
and
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(t)
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this
Subscription Agreement is not enforceable by the Subscriber unless
it has
been accepted by the Company.
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6.
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Representations,
Warranties and Covenants of the
Subscriber
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6.1
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The
Subscriber hereby represents and warrants to and covenants with the
Company (which representations, warranties and covenants shall survive
the
Closing) that:
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(a)
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the
Subscriber is not a U.S. Person;
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(b)
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the
Subscriber is not acquiring the Shares for the account or benefit
of,
directly or indirectly, any U.S.
Person;
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(c)
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the
Subscriber is resident in the jurisdiction set out under the heading
"Name
and Address of Subscriber" on the signature page of this Subscription
Agreement and the sale of the Shares to the Subscriber as contemplated
in
this Subscription Agreement complies with or is exempt from the applicable
securities legislation of the jurisdiction of residence of the
Subscriber;
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(d)
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the
Subscriber is purchasing the Shares as principal for investment purposes
only and not with a view to resale or distribution and, in particular,
the
Subscriber has no intention to distribute, either directly or indirectly,
any of the Shares in the United States or to U.S. Persons;
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(e)
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the
Subscriber is outside the United States when receiving and executing
this
Subscription Agreement;
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(f)
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the
Subscriber is not an underwriter of, or dealer in, the common shares
of
the Company, nor is the Subscriber participating, pursuant to a
contractual agreement or otherwise, in the distribution of the
Shares;
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(g)
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the
Subscriber understands and agrees that none of the Shares have been
registered under the 1933 Act, or under any state securities or "blue
sky"
laws of any state of the United States, and, unless so registered,
may not
be offered or sold in the United States or, directly or indirectly,
to
U.S. Persons except in accordance with the provisions of Regulation
S,
pursuant to an effective registration statement under the 1933 Act,
or
pursuant to an exemption from, or in a transaction not subject to,
the
registration requirements of the 1933 Act and in each case only in
accordance with applicable state and provincial securities
laws;
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(h)
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the
Subscriber understands and agrees that offers and sales of any of
the
Shares prior to the expiration of a period of one year after the
date of
original issuance of the Shares (the one year period hereinafter
referred
to as the "Distribution Compliance Period") shall only be made in
compliance with the safe harbor provisions set forth in Regulation
S,
pursuant to the registration provisions of the 1933 Act or an exemption
therefrom;
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(i)
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the
Subscriber understands and agrees not to engage in any hedging
transactions involving any of the Shares unless such transactions
are in
compliance with the provisions of the 1933
Act;
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(j)
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the
Subscriber understands and agrees that the Company will refuse to
register
any transfer of the Shares not made in accordance with the provisions
of
Regulation S, pursuant to an effective registration statement under
the
1933 Act or pursuant to an available exemption from the registration
requirements of the 1933 Act;
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(k)
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the
Subscriber acknowledges that the Subscriber has not acquired the
Shares as
a result of, and will not itself engage in, any "directed selling
efforts"
(as defined in Regulation S under the 0000 Xxx) in the United States
in
respect of any of the Shares which would include any activities undertaken
for the purpose of, or that could reasonably be expected to have
the
effect of, conditioning the market in the United States for the resale
of
any of the Shares; provided, however, that the Subscriber may sell
or
otherwise dispose of any of the Shares pursuant to registration of
any of
the Shares pursuant to the 1933 Act and any applicable state securities
laws or under an exemption from such registration requirements and
as
otherwise provided herein;
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(l)
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the
Subscriber is aware that an investment in the Company is speculative
and
involves certain risks, including the possible loss of the entire
investment;
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(m)
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the
Subscriber has made an independent examination and investigation
of an
investment in the Shares and the Company and has depended on the
advice of
the Subscriber’s legal and financial advisors and agrees that the Company
will not be responsible in anyway whatsoever for the Subscriber's
decision
to invest in the Shares and the
Company;
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(n)
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the
Subscriber (i) has adequate net worth and means of providing for
its
current financial needs and possible personal contingencies, (ii)
has no
need for liquidity in this investment, and (iii) is able to bear
the
economic risks of an investment in the Shares for an indefinite period
of
time;
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(o)
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it
(i) is able to fend for itself in the Subscription; (ii) has such
knowledge and experience in financial and business matters as to
be
capable of evaluating the merits and risks of its investment in the
Shares
and the Company; and (iii) has the ability to bear the economic risks
of
its prospective investment and can afford the complete loss of such
investment;
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(p)
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the
Subscriber recognizes that the purchase of Shares involves a high
degree
of risk in that the Company does not have any commercial operations
or
other business assets and may require substantial funds in addition
to the
proceeds of this Offering;
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(q)
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the
Subscriber understands and agrees that the Company and others will
rely
upon the truth and accuracy of the acknowledgements, representations
and
agreements contained in this Subscription Agreement and agrees that
if any
of such acknowledgements, representations and agreements are no longer
accurate or have been breached, the Subscriber shall promptly notify
the
Company;
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(r)
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the
Subscriber has the legal capacity and competence to enter into and
execute
this Subscription Agreement and to take all actions required pursuant
hereto and, if the Subscriber is a corporation, it is duly incorporated
and validly subsisting under the laws of its jurisdiction of incorporation
and all necessary approvals by its directors, shareholders and others
have
been obtained to authorize execution and performance of this Subscription
Agreement on behalf of the
Subscriber;
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(s)
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the
entering into of this Subscription Agreement and the transactions
contemplated hereby do not result in the violation of any of the
terms and
provisions of any law applicable to, or the constating documents
of, the
Subscriber or of any agreement, written or oral, to which the Subscriber
may be a party or by which the Subscriber is or may be
bound;
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(t)
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the
Subscriber has duly executed and delivered this Subscription Agreement
and
it constitutes a valid and binding agreement of the Subscriber enforceable
against the Subscriber in accordance with its
terms;
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(u)
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if
it is acquiring the Shares as a fiduciary or agent for one or more
investor accounts, it has sole investment discretion with respect
to each
such account and it has full power to make the foregoing acknowledgments,
representations and agreements on behalf of such
account;
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(v)
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the
Subscriber is not aware of any advertisement of any of the Shares
and is
not acquiring the Shares as a result of any form of general solicitation
or general advertising including advertisements, articles, notices
or
other communications published in any newspaper, magazine or similar
media
or broadcast over radio or television, or any seminar or meeting
whose
attendees have been invited by general solicitation or general
advertising;
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(w)
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no
person has made to the Subscriber any written or oral
representations:
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(i)
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that
any person will resell or repurchase any of the
Shares;
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(ii)
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that
any person will refund the purchase price of any of the
Shares;
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(iii)
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as
to the future price or value of any of the Shares;
or
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(iv)
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that
any of the Shares will be listed and posted for trading on any stock
exchange or automated dealer quotation system or that application
has been
made to list and post any of the Shares of the Company on any stock
exchange or automated dealer quotation system;
and
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(x)
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the
Subscriber is (tick
one or more of the following boxes):
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A.
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a
director, officer, employee, founder or control person of the
Company
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o
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B.
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a
spouse, parent, grandparent, brother, sister or child of a director,
executive officer, founder or control person of the
Company
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o
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C.
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a
parent, grandparent, brother, sister, child of the spouse of a director,
executive officer, founder or control person of the
Company
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o
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D.
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a
close personal friend of a director, executive officer or control
person
of the Company
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o
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E.
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a
close business associate of a director, executive officer or control
person of the Company
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o
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F.
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a
current holder of common shares or other designated securities of
the
Company
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o
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G.
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an
accredited investor
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o
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H.
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a
company, partnership or other entity of which a majority of the voting
securities are beneficially owned by, or a majority of the directors
are,
persons described in paragraphs A to G
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o
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I.
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a
trust or estate of which all of the beneficiaries or a majority of
the
trustees or executors are persons described in paragraphs A to
G
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o
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6.2 If
the
Subscriber has ticked one or more of boxes B, C, D, E, H or I in Section
6.1(x)
above,
the director(s), executive officer(s), or control person(s) of the Company
with
whom the Subscriber has the relationship is:
(Instructions
to Subscriber: fill in the name of each director. executive officer, founder
and
control person with whom you have the above-mentioned relationship. If you
have
checked box H or I, also indicate which of A to G describes the securityholders,
directors, trustees or beneficiaries which qualify you as box H or I and provide
the names of those individuals. Please attach a separate page if
necessary.)
6.3 If
the
Subscriber has ticked box G in Section 6.1(x)
above,
the Subscriber acknowledges and agrees that the Company shall not consider
the
Subscriber's Subscription for acceptance unless the Subscriber provides to
the
Company, along with an executed copy of this Subscription:
(a)
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a
fully completed and executed Accredited Investor Questionnaire in
the form
attached as Exhibit 1 hereto;
and
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(b)
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such
other supporting documentation that the Company or its legal counsel
may
request to establish the Subscriber's qualification as an accredited
investor.
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6.4 The
Subscriber acknowledges that the representations and warranties contained herein
and, if applicable, in an Accredited Investor Questionnaire, are made by the
Subscriber with the intention that they may be relied upon by the Company and
its legal counsel in determining the Subscriber's eligibility to acquire the
Shares under relevant legislation. The Subscriber further agrees that by
accepting delivery of the Shares, the Subscriber will be representing and
warranting that the foregoing representations and warranties are true and
correct as at the time of delivery of such Shares with the same force and effect
as if they had been made by the Subscriber at such time, and that they shall
survive the completion of the transactions contemplated under this Subscription
and remain in full force and effect thereafter for the benefit of the Company
for a period of one year.
6.5 In
this
Subscription Agreement, the term "U.S. Person" shall mean:
(a)
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any
natural person resident in the United
States;
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(b)
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any
partnership or corporation organized or incorporated under the laws
of the
United States;
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(c)
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any
estate of which any executor or administrator is a U.S.
person;
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(d)
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any
trust of which any trustee is a U.S.
person;
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(e)
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any
agency or branch of a foreign entity located in the United
States;
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(f)
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any
non-discretionary 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)
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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
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(h)
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any
partnership or corporation if:
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(i)
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organized
or incorporated under the laws of any foreign jurisdiction;
and
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(ii)
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formed
by a U.S. person principally for the purpose of investing in securities
not registered under the 1933 Act, unless it is organized or incorporated,
and owned, by accredited investors, as that term is defined in Regulation
D of the 1933 Act, who are not natural persons, estates or
trusts.
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7.
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Representations
by the Company
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7.1 The
Company represents and warrants to the Subscriber that:
(a)
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the
Company is a corporation duly organized, existing and in good standing
under the laws of the Province of British Columbia and has the corporate
power to conduct the business which it conducts and proposes to conduct;
and
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(b)
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upon
issue, the Shares will be duly and validly issued, fully paid and
non-assessable common shares in the capital of the
Company.
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8.
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Representations
and Warranties will be Relied Upon by the
Company
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8.1 The
Subscriber acknowledges that the representations and warranties contained herein
are made by it with the intention that such representations and warranties
may
be relied upon by the Company and its legal counsel in determining the
Subscriber's eligibility to purchase the Shares under applicable securities
legislation, or (if applicable) the eligibility of others on whose behalf it
is
contracting hereunder to purchase the Shares under applicable securities
legislation. The Subscriber further agrees that by accepting delivery of the
certificates representing the Shares on the Closing Date, it will be
representing and warranting that the representations and warranties contained
herein are true and correct as at the Closing Date with the same force and
effect as if they had been made by the Subscriber on the Closing Date and that
they will survive the purchase by the Subscriber of Shares and will continue
in
full force and effect notwithstanding any subsequent disposition by the
Subscriber of such Shares.
9.
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Canadian
Resale Restrictions
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9.1 The
Subscriber acknowledges that (i) the Shares are subject to resale restrictions
in Canada and may not be traded except as permitted by the various securities
acts of the provinces of Canada and the rules made thereunder, and (ii) that
the
Subscriber has been advised to consult the Subscriber's own legal advisors
with
respect to the applicable resale restrictions, and it is solely responsible
(and
the Company is not in any way responsible) for compliance with:
(a)
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any
applicable laws of the jurisdiction in which the Subscriber is resident
in
connection with the distribution of the Securities hereunder,
and
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(b)
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applicable
resale restrictions.
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9.2 Pursuant
to National Instrument 45-102, as adopted by the provincial securities
commission, a subsequent trade in the Shares will be a distribution subject
to
the prospectus and registration requirements of applicable Canadian securities
legislation unless certain conditions are met, which conditions include a hold
period (the "Canadian Hold Period") that shall have elapsed from the date on
which the Shares were issued to the Subscriber and, during the currency of
the
Canadian Hold Period, any certificate representing the Shares is to be imprinted
with a restrictive legend (the "Canadian Legend").
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9.3 By
executing and delivering this Subscription Agreement, the Subscriber will have
directed the Company not to include the Canadian Legend on any certificates
representing the Shares to be issued to the Subscriber.
9.4 As
a
consequence, the Subscriber will not be able to rely on the resale provisions
of
National Instrument 45-102, and any subsequent trade in the Shares during or
after the Canadian Hold Period will be a distribution subject to the prospectus
and registration requirements of Canadian securities legislation, to the extent
that the trade is at that time subject to any such Canadian securities
legislation.
10.
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Resale
Restrictions
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10.1 The
Subscriber acknowledges that any resale of the Shares will be subject to resale
restrictions contained in the securities legislation applicable to each
Subscriber or proposed transferee. The Subscriber acknowledges that the Shares
have not been registered under the 1933 Act of the securities laws of any state
of the United States and that the Company does not intend to register same
under
the 1933 Act, or the securities laws of any such state and has no obligation
to
do so. The Shares may not be offered or sold in the United States unless
registered in accordance with United States federal securities laws and all
applicable state securities laws or exemptions from such registration
requirements are available.
11.
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Acknowledgement
and Waiver
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11.1 The
Subscriber has acknowledged that the decision to purchase the Shares was solely
made on the basis of publicly available information. The Subscriber hereby
waives, to the fullest extent permitted by law, any rights of withdrawal,
rescission or compensation for damages to which the Subscriber might be entitled
in connection with the distribution of any of the Shares.
12.
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Legending
and Registration of Subject
Shares
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12.1 The
Subscriber hereby acknowledges that a legend may be placed on the certificates
representing any of the Shares to the effect that the Shares represented by
such
certificates are subject to a hold period and may not be traded until the expiry
of such hold period except as permitted by applicable securities
legislation.
12.2 The
Subscriber hereby acknowledges and agrees to the Company making a notation
on
its records or giving instructions to the registrar and transfer agent of the
Company in order to implement the restrictions on transfer set forth and
described in this Subscription Agreement.
13.
|
Costs
|
13.1 The
Subscriber acknowledges and agrees that all costs and expenses incurred by
the
Subscriber (including any fees and disbursements of any special counsel retained
by the Subscriber) relating to the purchase of the Shares shall be borne by
the
Subscriber.
14.
|
Governing
Law
|
14.1 This
Subscription Agreement is governed by the laws of the Province of British
Columbia. The Subscriber, in its personal or corporate capacity and, if
applicable, on behalf of each beneficial purchaser for whom it is acting,
irrevocably attorns to the jurisdiction of the Province of British
Columbia.
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9
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15.
|
Survival
|
15.1 This
Subscription Agreement, including without limitation the representations,
warranties and covenants contained herein, shall survive and continue in full
force and effect and be binding upon the parties hereto notwithstanding the
completion of the purchase of the Shares by the Subscriber pursuant
hereto.
16.
|
Assignment
|
16.1 This
Subscription Agreement is not transferable or assignable.
17.
|
Execution
|
17.1 The
Company shall be entitled to rely on delivery by facsimile machine of an
executed copy of this Subscription Agreement and acceptance by the Company
of
such facsimile copy shall be equally effective to create a valid and binding
agreement between the Subscriber and the Company in accordance with the terms
hereof.
18.
|
Severability
|
18.1 The
invalidity or unenforceability of any particular provision of this Subscription
Agreement shall not affect or limit the validity or enforceability of the
remaining provisions of this Subscription Agreement.
19.
|
Entire
Agreement
|
19.1 Except
as
expressly provided in this Subscription Agreement and in the agreements,
instruments and other documents contemplated or provided for herein, this
Subscription Agreement contains the entire agreement between the parties with
respect to the sale of the Shares and there are no other terms, conditions,
representations or warranties, whether expressed, implied, oral or written,
by
statute or common law, by the Company or by anyone else.
20.
|
Notices
|
20.1 All
notices and other communications hereunder shall be in writing and shall be
deemed to have been duly given if mailed or transmitted by any standard form
of
telecommunication. Notices to the Subscriber shall be directed to the address
on
page 11 and notices to the Company shall be directed to it at 0000
Xxxxxxxxx Xxxx, Xxxxx, Xxxxxxx Xxxxxxxx X0X 0X0 Attention: The
President.
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10
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21. |
Counterparts
|
21.1 This
Subscription Agreement may be executed in any number of counterparts, each
of
which, when so executed and delivered, shall constitute an original and all
of
which together shall constitute one instrument.
IN
WITNESS WHEREOF
the
Subscriber has duly executed this Subscription Agreement as of the date first
above mentioned.
DELIVERY
INSTRUCTIONS
1.
|
Delivery
- please deliver the certificates
to:
|
2.
|
Registration
- registration of the certificates which are to be delivered at closing
should be made as follows:
|
(name)
(address)
3.
|
The
undersigned hereby acknowledges that it will deliver to the Company
all
such additional completed forms in respect of the Subscriber's purchase
of
the Shares as may be required for filing with the appropriate securities
commissions and regulatory
authorities.
|
(Name
of Subscriber – Please type or print)
|
|
(Signature
and, if applicable, Office)
|
|
(Address
of Subscriber)
|
|
(City,
State or Province, Postal Code of
Subscriber)
|
|
(Country
of Subscriber)
|
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11
-
A
C C E P T A N C E
The
above-mentioned Subscription Agreement in respect of the Shares is hereby
accepted by VANTECH
PLASTICS CORP.
DATED
at
___________________________________________, the _________ day
of
_____________________,
2007.
Per:
|
|
Authorized
Signatory
|
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EXHIBIT
1
NI
45-106 ACCREDITED INVESTOR QUESTIONNAIRE
All
capitalized terms herein, unless otherwise defined, have the meanings ascribed
thereto in the Subscription.
The
purpose of this Questionnaire is to assure the Company that each purchaser
will
meet certain requirements of National
Instrument 45-106 (“NI 45-106”).
The
Company will rely on the information contained in this Questionnaire for the
purposes of such determination.
The
undersigned (the “Subscriber”) covenants, represents and warrants to the Company
that:
1.
|
the
Subscriber has such knowledge and experience in financial and business
matters as to be capable of evaluating the merits and risks of the
transactions detailed in the Subscription and the Subscriber is able
to
bear the economic risk of loss arising from such
transactions;
|
2.
|
the
Subscriber satisfies one or more of the categories of “accredited
investor” (as that term is defined in NI 45-106) indicated below (please
check the appropriate box):
|
o |
(a)
a Canadian financial institution as defined in National Instrument
14-101,
or an authorized foreign bank listed in Schedule III of the Bank
Act
(Canada);
|
o |
(b)
the Business Development Bank of Canada incorporated under the
Business
Development Bank Act
(Canada);
|
o |
(c)
a subsidiary of any person referred to in any of the foregoing categories,
if the person owns all of the voting securities of the subsidiary,
except
the voting securities required by law to be owned by directors of
that
subsidiary;
|
o |
(d)
an individual registered or formerly registered under securities
legislation in a jurisdiction of Canada, as a representative of a
person
or company registered under securities legislation in a jurisdiction
of
Canada, as an adviser or dealer, other than a limited market dealer
registered under the Securities
Act
(Ontario) or the Securities
Act
(Newfoundland);
|
o |
(e)
an individual registered or formerly registered under the securities
legislation of a jurisdiction of Canada as a representative of a
person
referred to in paragraph (d);
|
o |
(f)
the government of Canada or a province, or any crown corporation
or agency
of the government of Canada or a
province;
|
o |
(g)
a municipality, public board or commission in Canada and a metropolitan
community, school board, the Comite de gestion de la taxe scholaire
de
l’ile de Montreal or an intermunicipal management board in
Québec;
|
o |
(h)
a national, federal, state, provincial, territorial or municipal
government of or in any foreign jurisdiction, or any agency
thereof;
|
o |
(i)
a pension fund that is regulated by either the Office of the
Superintendent of Financial Institutions (Canada) or a pension commission
or similar regulatory authority of a jurisdiction of
Canada;
|
o |
(j)
an individual who either alone or with a spouse beneficially owns,
directly or indirectly, financial assets (as defined in NI 45-106)
having
an aggregate realizable value that, before taxes but net of any related
liabilities, exceeds CDN$1,000,000;
|
o |
(k)
an individual whose net income before taxes exceeded CDN$200,000
in each
of the two more recent calendar years or whose net income before
taxes
combined with that of a spouse exceeded $300,000 in each of those
years
and who, in either case, reasonably expects to exceed that net income
level in the current calendar year;
|
o |
(l)
an individual who, either alone or with a spouse, has net assets
of at
least CDN$5,000,000;
|
o |
(m)
a person, other than a person or investment fund, that had net assets
of
at least CDN$5,000,000 as reflected on its most recently prepared
financial statements;
|
o |
(n)
an investment fund that distributes it securities only to persons
that are
accredited investors at the time of distribution, a person that acquires
or acquired a minimum of CDN$150,000 of value in securities, or a
person
that acquires or acquired securities under Sections 2.18 or 2.19
of NI
45-106;
|
o |
(o)
an investment fund that distributes or has distributed securities
under a
prospectus in a jurisdiction of Canada for which the regulator or,
in
Québec, the securities regulatory authority, has issued a
receipt;
|
o |
(p)
a trust company or trust corporation registered or authorized to
carry on
business under the Trust
and Loan Companies Act
(Canada) or under comparable legislation in a jurisdiction of Canada
or a
foreign jurisdiction, acting on behalf of a fully managed account
managed
by the trust company or trust corporation, as the case may
be;
|
o |
(q)
a person acting on behalf of a fully managed account managed by that
person, if that person (i) is registered or authorized to carry on
business as an adviser or the equivalent under the securities legislation
of a jurisdiction of Canada or a foreign jurisdiction, and (ii) in
Ontario, is purchasing a security that is not a security of an investment
fund;
|
o |
(r)
a registered charity under the Income
Tax Act
(Canada) that, in regard to the trade, has obtained advice from an
eligibility advisor or an advisor registered under the securities
legislation of the jurisdiction of the registered charity to give
advice
on the securities being traded;
|
o |
(s)
an entity organized in a foreign jurisdiction that is analogous to
any of
the entities referred to in paragraphs (a) to (d) or paragraph (i)
in form
and function;
|
o |
(t)
a person in respect of which all of the owners of interests, direct,
indirect or beneficial, except the voting securities required by
law are
persons or companies that are accredited
investors.
|
o |
(u)
an investment funds that is advised by a person registered as an
advisor
or a person that is exempt from registration as an advisor;
or
|
o |
(v)
a person that is recognized or designated by the securities regulatory
authority or, except in Ontario and Québec, the regulator as (i) an
accredited investor, or (ii) an exempt purchaser in Alberta or British
Columbia after this instrument comes into
force;
|
-
2
-
The
Subscriber acknowledges and agrees that the Subscriber may be required by the
Company to provide such additional documentation as may be reasonably required
by the Company and its legal counsel in determining the Subscriber’s eligibility
to acquire the Shares under relevant Legislation.
IN
WITNESS WHEREOF, the undersigned has executed this Questionnaire as of
the _______ day
of
__________________,
2007.
If
a Corporation, Partnership or Other Entity:
|
||
Signature
|
Print
or Type Name of Entity
|
|
Print
or Type Name
|
Signature
of Authorized Signatory
|
|
Type
of Entity
|
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3
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