Common use of The Placement Clause in Contracts

The Placement. The Placement is expected to consist of a sale of up to $7.0 million (the “Total Subscription Amount”) of the Company’s Securities. The structure of the Placement will be one (1) Common Share and one (1) paper Warrant. The Warrant will be exercisable for one (1) Common Share with a strike price at the public offering price and a five (5) year term. The pricing of the Placement will be as set forth in the Pricing Disclosure attached hereto. Aegis will act as Placement Agent for the Placement subject to, among other matters referred to herein and additional customary conditions, completion of Aegis’s due diligence examination of the Company and its affiliates, listing approval by the Nasdaq Capital Market (“Exchange”) of the Securities to be issued, and the execution of this Agreement and receipt of any other applicable regulatory approvals. The actual size of the Placement, the precise number of Securities to be offered by the Company and the offering price will be the subject of continuing negotiations between the Company and Aegis.

The Placement. The Placement is expected to consist of a sale of up to $7.0 15.0 million (the “Total Subscription Amount”) of the Company’s Securities. The structure of the Placement will be one (1) Common Share and one (1) paper Warrant. The Warrant will be exercisable for one (1) Common Share with a strike price at the public offering price and a five (5) year term. The pricing of the Placement will be as set forth in mutually agreed upon by the Pricing Disclosure attached heretoCompany and Aegis. Aegis will act as Placement Agent for the Placement subject to, among other matters referred to herein and additional customary conditions, completion of Aegis’s due diligence examination of the Company and its affiliates, listing approval by the Nasdaq Capital Market (“Exchange”) of the Securities to be issued, and the execution of this Agreement and receipt of any other applicable regulatory approvals. The actual size of the Placement, the precise number of Securities to be offered by the Company and the offering price will be the subject of continuing negotiations between the Company and Aegis.