Common use of Background/Context Clause in Contracts

Background/Context. Rainmaker Worldwide Inc. (“RAKR”) is a Nevada company which operates through two wholly owned subsidiaries; Rainmaker Worldwide Inc. (Ontario) (“ RWI”) which hosts the Company’s head office in P▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇, and Rainmaker Holland B.Y. (“RHBV”) which functions as the Company’s innovation and manufacturing center in Rotterdam, Netherlands. The Company’s patented water technology provides economical drinking water wherever it’s needed and at scale. The company began in 2008 as Dutch Rainmaker BV (“DRM”) by inventor P▇▇▇ ▇▇▇▇▇▇▇▇▇▇ together with an affiliated company, Wind En Water Technologie Holding BV (“WWT”). DRM and WWT evolved through 2014, with units of the first-generation technology deployed in Kuwait and Northern Holland. Rainmaker Worldwide Inc. (Ontario) was formed in P▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ in 2014 to consolidate all assets, intellectual property, and the executive management expertise of DRM and WWT. The restructuring of DRM and WWT was completed with asset sale transactions by each company to RWI completed in December 2015 contemporaneously with a Round 1 financing of RWI. The first full year of operation of RWI was 2016. RHBV was established in late 2015 as a wholly owned subsidiary of RWI as part of the DRM-WWT-RWT restructuring (“RM BV”). RM BV fulfills R&D, assembly and manufacturing operations in the Netherlands for the group. The creation of DR BV also facilitated a loan from an affiliate of the Port of Rotterdam (“SOFIE”) the proceeds of which supplemented the working capital necessary to outfit the Rotterdam assembly facility with the necessary tools and equipment. In July 2017, the shareholders of RWI entered into a share exchange agreement with RAKR that resulted in RWI becoming a wholly owned subsidiary of RAKR trading on OTC pink sheet markets. To-date, over $15 million has been collectively invested in technology research, development and deployment within DRM, WWT and RWI.

Background/Context. Rainmaker Worldwide Inc. (“RAKR”) is a Nevada company which operates through two wholly owned subsidiaries; Rainmaker Worldwide Inc. (Ontario) (“ RWI”) which hosts the Company’s head office in P▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇, and Rainmaker Holland B.Y. (“RHBV”) which functions as the Company’s innovation and manufacturing center in Rotterdam, Netherlands. The Company’s patented water technology provides economical drinking water wherever it’s needed and at scale. The company began in 2008 as Dutch Rainmaker BV (“DRM”) by inventor P▇▇▇ ▇▇▇▇▇▇▇▇▇▇ together with an affiliated company, Wind En Water Technologie Holding BV (“WWT”). DRM and WWT evolved through 2014, with units of the first-generation technology deployed in Kuwait and Northern Holland. Rainmaker Worldwide Inc. (Ontario) was formed in P▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ in 2014 to consolidate all assets, intellectual property, and the executive management expertise of DRM and WWT. The restructuring of DRM and WWT was completed with asset sale transactions by each company to RWI completed in December 2015 contemporaneously with a Round 1 financing of RWI. The first full year of operation of RWI was 2016. RHBV was established in late 2015 as a wholly owned subsidiary of RWI as part of the DRM-WWT-RWT restructuring (“RM BV”). RM BV fulfills R&D, assembly and manufacturing operations in the Netherlands for the group. The creation of DR BV also facilitated a loan from an affiliate of the Port of Rotterdam (“SOFIE”) the proceeds of which supplemented the working capital necessary to outfit the Rotterdam assembly facility with the necessary tools and equipment. In July 2017, the shareholders of RWI entered into a share exchange agreement with RAKR that resulted in RWI becoming a wholly owned subsidiary of RAKR trading on OTC pink sheet markets. To-date, over $15 million has been collectively invested in technology research, development and deployment within DRM, WWT and RWI.. RAKR builds two types of energy-efficient, fresh water-producing technologies: