<SEC-DOCUMENT>0001161697-12-000146.txt : 20120316
<SEC-HEADER>0001161697-12-000146.hdr.sgml : 20120316
<ACCEPTANCE-DATETIME>20120316090446
ACCESSION NUMBER:		0001161697-12-000146
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120312
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120316
DATE AS OF CHANGE:		20120316

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VISUALANT INC
		CENTRAL INDEX KEY:			0001074828
		STANDARD INDUSTRIAL CLASSIFICATION:	MEASURING & CONTROLLING DEVICES, NEC [3829]
		IRS NUMBER:				911948357
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-30262
		FILM NUMBER:		12695787

	BUSINESS ADDRESS:	
		STREET 1:		500 UNION STREET
		STREET 2:		SUITE 406
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101
		BUSINESS PHONE:		206-903-1351

	MAIL ADDRESS:	
		STREET 1:		500 UNION STREET
		STREET 2:		SUITE 406
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Visualant, INC
		DATE OF NAME CHANGE:	20050106

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	STARBERRYS CORP
		DATE OF NAME CHANGE:	20020918

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CIGAR KING CORP
		DATE OF NAME CHANGE:	19990127
</SEC-HEADER>
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<TYPE>8-K
<SEQUENCE>1
<FILENAME>form_8-k.htm
<DESCRIPTION>FORM 8-K FOR 03-12-2012
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<P style="margin:0" align=center><B>UNITED STATES</B></P>
<P style="margin:0" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin:0" align=center><B>Washington, D.C. 20549</B></P>
<P style="margin:0" align=center><BR></P>
<P style="margin:0" align=center><B>FORM 8-K</B></P>
<P style="margin:0" align=center><BR></P>
<P style="margin:0" align=center><B>CURRENT REPORT</B></P>
<P style="margin:0" align=center><BR></P>
<P style="margin:0" align=center><B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B></P>
<P style="margin:0" align=center><BR></P>
<P style="margin:0" align=center><B>Date of Report: March 12, 2012</B></P>
<P style="margin:0"><BR></P>
<P style="margin:0" align=center><B><U>&nbsp;&nbsp;&nbsp;&nbsp;VISUALANT, INCORPORATED&nbsp;&nbsp;&nbsp;&nbsp;</U></B></P>
<P style="margin:0" align=center>(Exact name of Registrant as specified in its charter)</P>
<P style="margin:0"><BR></P>
<TABLE style="margin-top:0; font-size:10pt" cellpadding=0 cellspacing=0 width=100%><TR height=0 style="font-size:1pt"><TD width=240 ></TD><TD ></TD><TD width=239 ></TD></TR>
<TR><TD style="margin-top:0" width=240><P style="margin:0" align=center><B><U>&nbsp;&nbsp;&nbsp;&nbsp;Nevada&nbsp;&nbsp;&nbsp;&nbsp;</U></B></P>
</TD><TD style="margin-top:0"><P style="margin:0" align=center><B><U>&nbsp;&nbsp;&nbsp;&nbsp;0-25541&nbsp;&nbsp;&nbsp;&nbsp;</U></B></P>
</TD><TD style="margin-top:0" width=239><P style="margin:0" align=center><B><U>&nbsp;&nbsp;&nbsp;&nbsp;91-1948357&nbsp;&nbsp;&nbsp;&nbsp;</U></B></P>
</TD></TR>
<TR><TD style="margin-top:0" valign=top width=240><P style="margin:0" align=center>(State or jurisdiction of incorporation)</P>
</TD><TD style="margin-top:0" valign=top><P style="margin:0" align=center>(Commission File No.)</P>
</TD><TD style="margin-top:0" valign=top width=239><P style="margin:0" align=center>(IRS Employer Identification No.)</P>
</TD></TR>
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<P style="margin:0"><BR></P>
<P style="margin:0" align=center><B>500 Union Street, Suite 406</B></P>
<P style="margin:0" align=center><B>Seattle, Washington 98101</B></P>
<P style="margin:0" align=center><B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(206) 903-1351&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B></P>
<P style="margin:0" align=center>(Address of Registrant&rsquo;s principal executive office and telephone number)</P>
<P style="margin:0"><BR></P>

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<P style="margin:0"><B>Section 1 - Registrant's Business and Operations</B></P>
<P style="margin:0"><BR></P>
<P style="margin:0"><B>Item 1.01. &nbsp;Entry into a Material Definitive Agreement.</B></P>
<P style="margin:0"><BR></P>
<P style="margin:0; text-align: justify"><B><I>Amended Securities Purchase Agreement with Gemini Master Fund, Ltd. and Ascendiant Capital Partners, LLC ("Investors")</I></B></P>
<P style="margin:0"><BR></P>
<P style="margin:0; text-align: justify">On May 19, 2011, Visualant, Inc. ("Visualant" or the "Company") entered into a Securities Purchase Agreement ("Agreement") with Gemini Master Fund, Ltd. and Ascendiant Capital Partners, LLC  ("Investors") pursuant to which the Company agreed to issue $1.2 million of 10% convertible debentures due May 1, 2012. The Company received $1.0 million in cash related to the Agreement.</P>
<P style="margin:0"><BR></P>
<P style="margin:0; text-align: justify">On March 12, 2012, the Company and Investors entered into First Amendment to Securities Purchase Agreement and Debentures ("Amendment"). The Amendment extended the maturity date of the convertible debentures form from May 1, 2012 to September 30, 2012. In addition, the additional investment and participation rights as defined in the Agreement were extended from May 1, 2012 to September 30, 2012.</P>
<P style="margin:0"><BR></P>
<P style="margin:0; text-align: justify">The above description of the Amendment is intended only as a summary of such agreement.  The full agreement is filed as Exhibit 10.1 and is hereby incorporated by reference.</P>
<P style="margin:0"><BR></P>

<P style="margin:0"><B>Item 9.01 &nbsp;Financial Statements and Exhibits.</B></P>
<P style="margin:0"><BR></P>
<P style="margin:0; text-indent:24">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits &ndash;</P>
<P style="margin:0"><BR></P>
<TABLE style="margin-top:0; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=96 ></TD><TD width=624 ></TD></TR>
<TR><TD style="margin-top:0" valign=top width=96><P style="margin:0" align=center><B><U>Exhibit No.</U></B></P>
</TD><TD style="margin-top:0" valign=top width=624><P style="margin:0; text-indent:228"><B><U>Description</U></B></P>
</TD></TR>
<TR><TD style="margin-top:0" valign=top width=96><P style="margin:0" align=center>&nbsp;</P>
</TD><TD style="margin-top:0" valign=top width=624><P style="margin:0">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0" valign=top width=96><P style="margin:0" align=center>10.1</P>
</TD><TD style="margin-top:0" valign=top width=624><P style="margin:0">First Amendment to Securities Purchase Agreement and Debentures</P>
</TD></TR>
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<P style="margin:0"><BR></P>
<P style="margin:0"><BR></P>
<P style="margin:0" align=center><B>SIGNATURES</B></P>
<P style="margin:0; text-align: justify"><BR></P>
<P style="margin:0; text-align: justify">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
<P style="margin:0; text-align: justify"><BR></P>
<TABLE style="margin-top:0; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=360 ></TD><TD width=24 ></TD><TD width=336 ></TD></TR>
<TR><TD style="margin-top:0" valign=top width=360><P style="margin:0">&nbsp;</P>
</TD><TD style="margin-top:0" valign=top width=360 colspan=2><P style="margin:0">Registrant: VISUALANT, INCORPORATED</P>
</TD></TR>
<TR><TD style="margin-top:0" valign=top width=360><P style="margin:0">&nbsp;</P>
</TD><TD style="margin-top:0" valign=top width=24><P style="margin:0">&nbsp;</P>
</TD><TD style="margin-top:0" valign=top width=336><P style="margin:0">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0" valign=top width=360><P style="margin:0">&nbsp;</P>
</TD><TD style="margin-top:0" valign=top width=24><P style="margin:0">By:</P>
</TD><TD style="margin-top:0" valign=top width=336><P style="margin:0"><U>/s/&nbsp;Mark Scott</U></P>
</TD></TR>
<TR><TD style="margin-top:0" valign=top width=360><P style="margin:0">&nbsp;</P>
</TD><TD style="margin-top:0" valign=top width=24><P style="margin:0">&nbsp;</P>
</TD><TD style="margin-top:0" valign=bottom width=336><P style="margin:0">Mark Scott, CFO</P>
</TD></TR>
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<P style="margin:0"><BR></P>
<P style="margin:0">March 16, 2012</P>
<P style="margin:0; text-align: justify"><BR></P>
<P style="margin:0" align=center><B>Exhibit Index</B></P>
<P style="margin:0"><BR></P>
<TABLE style="margin-top:0; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=96 ></TD><TD width=624 ></TD></TR>
<TR><TD style="margin-top:0" valign=top width=96><P style="margin:0" align=center><B><U>Exhibit No.</U></B></P>
</TD><TD style="margin-top:0" valign=top width=624><P style="margin:0; text-indent:228"><B><U>Description</U></B></P>
</TD></TR>
<TR><TD style="margin-top:0" valign=top width=96><P style="margin:0" align=center>&nbsp;</P>
</TD><TD style="margin-top:0" valign=top width=624><P style="margin:0">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0" valign=top width=96><P style="margin:0" align=center><A HREF="ex_10-1.htm">10.1</A></P>
</TD><TD style="margin-top:0" valign=top width=624><P style="margin:0">First Amendment to Securities Purchase Agreement and Debentures.</P>
</TD></TR>
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<P style="margin:0"><BR></P>

<P style="margin:0" align=center>2</P>

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<DESCRIPTION>FIRST AMENDMENT TO SECURITIES PURCHASE AGREEMENT AND DEBENTURES
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<P style="margin:0" align=center><B>Exhibit 10.1</B></P>
<P style="margin:0" align=center><BR></P>
<P style="margin:0; font-size:12pt" align=center><B>FIRST AMENDMENT TO </B></P>
<P style="margin:0; font-size:12pt" align=center><B>SECURITIES PURCHASE AGREEMENT AND DEBENTURES</B></P>
<P style="margin:0; text-align: justify"><BR></P>
<P style="margin:0; text-indent:48; font-size:12pt; text-align: justify">This First Amendment to Securities Purchase Agreement and Debentures (this &ldquo;<U>Amendment</U>&rdquo;) is dated as of March 12, 2012.</P>
<P style="margin:0; text-align: justify"><BR></P>
<P style="margin:0; text-indent:48; font-size:12pt; text-align: justify">WHEREAS, the parties hereto entered into a Securities Purchase Agreement dated as of May 19, 2011 (the &ldquo;<U>Agreement</U>&rdquo;) between Visualant, Incorporated, a Nevada corporation (the &ldquo;<U>Company</U>&rdquo;), and each purchaser identified on the signature pages hereto (each, including its successors and assigns, a &ldquo;<U>Purchaser</U>&rdquo; and collectively the &ldquo;<U>Purchasers</U>&rdquo;); and</P>
<P style="margin:0; text-align: justify"><BR></P>
<P style="margin:0; text-indent:48; font-size:12pt; text-align: justify">WHEREAS, pursuant to the Agreement, the Company issued certain Debentures (as such term is defined in the Agreement) to each Purchaser as follows: (a)&nbsp;10% Convertible Debenture in the principal amount of USD&nbsp;$900,000 issued on May 19, 2011 to Gemini Master Fund, Ltd.; and (b)&nbsp;10% Convertible Debenture in the principal amount of USD&nbsp;$300,000 issued on May 19, 2011 to Ascendiant Capital Partners LLC; and</P>
<P style="margin:0; text-align: justify"><BR></P>
<P style="margin:0; text-indent:48; font-size:12pt; text-align: justify">WHEREAS, the Company and each of the Purchasers have agreed to extend the Maturity Date of the Debentures to September 30, 2012, among other things; </P>
<P style="margin:0; text-align: justify"><BR></P>
<P style="margin:0; text-indent:48; font-size:12pt; text-align: justify">NOW THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company and each Purchaser agree as follows: </P>
<P style="margin:0; text-align: justify"><BR></P>
<TABLE style="margin-top:0; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=48 ></TD><TD width=24 ></TD><TD width=648 ></TD></TR>
<TR><TD style="margin-top:0" valign=top width=48><P style="margin:0; padding:0">&nbsp;</P></TD><TD style="margin-top:0" valign=top width=24><P style="margin:0; font-size:12pt; text-align: justify">1.</P>
</TD><TD style="margin-top:0" valign=top width=648><P style="margin:0; font-size:12pt; text-align: justify"><U>Extension of Maturity Date of Debentures</U>.</P>
</TD></TR>
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<P style="margin:0; text-align: justify"><BR></P>
<P style="margin:0; margin-left:72; font-size:12pt; text-align: justify">The Maturity Date, as such term is defined in the Debentures, of each Debenture issued to the Purchasers is hereby extended from May 1, 2012 to September 30, 2012.</P>
<P style="margin:0; text-align: justify"><BR></P>
<TABLE style="margin-top:0; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=48 ></TD><TD width=24 ></TD><TD width=648 ></TD></TR>
<TR><TD style="margin-top:0" valign=top width=48><P style="margin:0; padding:0">&nbsp;</P></TD><TD style="margin-top:0" valign=top width=24><P style="margin:0; font-size:12pt; text-align: justify">2.</P>
</TD><TD style="margin-top:0" valign=top width=648><P style="margin:0; font-size:12pt; text-align: justify"><U>Extension of Additional Investment Right and Participation Right</U>.</P>
</TD></TR>
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<P style="margin:0; text-align: justify"><BR></P>
<P style="margin:0; margin-left:72; font-size:12pt; text-align: justify">The additional investment right is hereby extended to September 30, 2012, such that the words &ldquo;On or prior to the date which is one year following the Closing Date,&rdquo; in the first sentence of Section 2.4(a) of the Agreement shall be replaced with &ldquo;On or prior to September 30, 2012&rdquo;. &nbsp;The Purchasers&rsquo; right to participate in Subsequent Financings is hereby extended to September 30, 2012, such that the words &ldquo;until the date that is the 12 month anniversary of the Closing Date,&rdquo; in the first sentence of Section 4.12(a) of the Agreement shall be replaced with &ldquo;until September 30, 2012&rdquo;.</P>
<P style="margin:0; text-align: justify"><BR></P>
<TABLE style="margin-top:0; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=48 ></TD><TD width=24 ></TD><TD width=648 ></TD></TR>
<TR><TD style="margin-top:0" valign=top width=48><P style="margin:0; padding:0">&nbsp;</P></TD><TD style="margin-top:0" valign=top width=24><P style="margin:0; font-size:12pt; text-align: justify">3.</P>
</TD><TD style="margin-top:0" valign=top width=648><P style="margin:0; font-size:12pt; text-align: justify"><U>No Other Amendment</U>.</P>
</TD></TR>
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<P style="margin:0; text-align: justify"><BR></P>
<P style="margin:0; margin-left:72; font-size:12pt; text-align: justify">Except as expressly and specifically amended hereby, all other terms, conditions and provisions of the Debentures and the Agreement shall remain unchanged and shall continue in full force and effect.</P>
<P style="margin:0; text-align: justify"><BR></P>
<TABLE style="margin-top:0; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=48 ></TD><TD width=24 ></TD><TD width=648 ></TD></TR>
<TR><TD style="margin-top:0" valign=top width=48><P style="margin:0; padding:0">&nbsp;</P></TD><TD style="margin-top:0" valign=top width=24><P style="margin:0; font-size:12pt; text-align: justify">4.</P>
</TD><TD style="margin-top:0" valign=top width=648><P style="margin:0; font-size:12pt; text-align: justify"><U>Counterparts</U>.</P>
</TD></TR>
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<P style="margin:0; text-align: justify"><BR></P>
<P style="margin:0; margin-left:72; font-size:12pt; text-align: justify">This Amendment may be executed in two or more counterparts, electronically or by facsimile, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument.</P>
<P style="margin:0"><BR></P>

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<P style="margin:0; text-indent:48; font-size:12pt">IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.</P>
<P style="margin:0"><BR></P>
<P style="margin:0; font-size:12pt"><B>VISUALANT, INCORPORATED</B></P>
<P style="margin:0"><BR></P>
<TABLE style="margin-top:0; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=48 ></TD><TD width=312 ></TD></TR>
<TR><TD style="margin-top:0" valign=top width=48><P style="margin:0; font-size:12pt">By:</P>
</TD><TD style="margin-top:0" valign=top width=312><P style="margin:0; font-size:12pt">/s/ Ronald P. Erickson</P>
</TD></TR>
<TR><TD style="margin-top:0" valign=top width=48><P style="margin:0; padding:0; font-size:12pt">&nbsp;</P></TD><TD style="margin-top:0" valign=top width=312><P style="margin:0; font-size:12pt">Name: &nbsp;Ronald P. Erickson</P>
</TD></TR>
<TR><TD style="margin-top:0" valign=top width=48><P style="margin:0; padding:0; font-size:12pt">&nbsp;</P></TD><TD style="margin-top:0" valign=top width=312><P style="margin:0; font-size:12pt">Title: &nbsp;&nbsp;&nbsp;Chief Executive Officer</P>
</TD></TR>
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<P style="margin:0"><BR></P>
<P style="margin:0"><BR></P>
<TABLE style="margin-top:0; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=142.133 ></TD><TD width=577.867 ></TD></TR>
<TR><TD style="margin-top:0" valign=top width=142.133><P style="margin:0; font-size:12pt">Name of Purchaser:</P>
</TD><TD style="margin-top:0" valign=top width=577.867><P style="margin:0; font-size:12pt"><B>GEMINI MASTER FUND, LTD.</B></P>
</TD></TR>
<TR><TD style="margin-top:0" valign=top width=142.133><P style="margin:0; padding:0; font-size:12pt">&nbsp;</P></TD><TD style="margin-top:0" valign=top width=577.867><P style="margin:0; padding:0; font-size:12pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0" valign=top width=142.133><P style="margin:0; padding:0; font-size:12pt">&nbsp;</P></TD><TD style="margin-top:0" valign=top width=577.867><P style="margin:0; font-size:12pt; text-align: justify">By: GEMINI STRATEGIES LLC, INC. as investment manager</P>
</TD></TR>
</TABLE>
<P style="margin:0; text-align: justify"><BR></P>
<P style="margin:0; font-size:12pt; text-align: justify"><I>Signature of Authorized Signatory of Purchaser</I>: &nbsp;<I>/s/</I> Steven Winters</P>
<P style="margin:0; text-align: justify"><BR></P>
<P style="margin:0; font-size:12pt; text-align: justify">Name of Authorized Signatory: &nbsp;Steven Winters</P>
<P style="margin:0; text-align: justify"><BR></P>
<P style="margin:0; font-size:12pt; text-align: justify">Title of Authorized Signatory: &nbsp;President</P>
<P style="margin:0"><BR></P>
<P style="margin:0; text-align: justify"><BR></P>
<TABLE style="margin-top:0; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=141.267 ></TD><TD width=578.733 ></TD></TR>
<TR><TD style="margin-top:0" valign=top width=141.267><P style="margin:0; font-size:12pt; text-align: justify">Name of Purchaser:</P>
</TD><TD style="margin-top:0" valign=top width=578.733><P style="margin:0; font-size:12pt; text-align: justify"><B>ASCENDIANT CAPITAL PARTNERS LLC</B></P>
</TD></TR>
</TABLE>
<P style="margin:0; text-align: justify"><BR></P>
<P style="margin:0; font-size:12pt; text-align: justify"><I>Signature of Authorized Signatory of Purchaser</I>: &nbsp;/s/ Bradley J. Wilhite</P>
<P style="margin:0; text-align: justify"><BR></P>
<P style="margin:0; font-size:12pt; text-align: justify">Name of Authorized Signatory: &nbsp;Bradley J. Wilhite</P>
<P style="margin:0; text-align: justify"><BR></P>
<P style="margin:0; font-size:12pt; text-align: justify">Title of Authorized Signatory: &nbsp;Managing Partner</P>
<P style="margin:0"><BR></P>
<P style="margin:0" align=center>Page 2</P>

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