AGENCY AGREEMENTAgency Agreement • August 10th, 2010
Contract Type FiledAugust 10th, 2010We understand that Medicago Inc. (the “Company”) proposes to issue and sell up to 18,518,520 units of the Company (the “Offered Units”) at a price of $0.405 per Offered Unit (the “Issue Price”) to raise up to $7,500,000.60 (the “Offering”). Each Unit will consist of one common share in the share capital of the Company (a “Common Share”) and three- quarter of one common share purchase warrant (each whole warrant, a “Warrant”). Each whole Warrant will entitle the holder thereof to purchase one Common Share (a “Warrant Common Share”) at an exercise price of $0.50 per Warrant Common Share at any time in the 60 months following the Closing Date. The Warrants shall be created and issued pursuant to a warrant indenture (the “Warrant Indenture”) to be dated as of the Closing Date between Computershare Trust Company of Canada (the “Warrant Agent”) and the Company.